What is FUD? .:. Who is spreading it and why?

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Published on Jan 22, 2021

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In the last couple of months, I have talked a lot of times about the FOMO (Fear Of Missing Out) mentality... Today, it's time to meet the FOMO's younger brother... the FUD...

The FUD abbreviation is shortened for "Fear, Uncertainty, and Doubt" and it is a propaganda tactic, mostly used in marketing, sales, politics... Everything that has something with changing your feelings and emotions to take an ACTION in a different manner than usual... So, it is very similar to the FOMO, as the result seems very the same... Impacting on your emotions, trying to provoke irrational action instead of, cold-headed, rational thinking...

If you are in crypto for some time, you have probably noticed FUD a lot of times... To be more exact, crypto is living in the constant FUD... lol... I remember that I was talking about similar things just a couple of days ago, and 2-3 days ago, we got another same narrative as before...

The main "actress" was the Treasury Secretary nominee, Janet Yellen, with her famous calling out that crypto is being used “mainly for illicit financing." So, if you are in this space, you have probably heard this like a million times from the mouths of different politicians, bankers, etc, but lately, I have to admit I didn't hear that for some time...

It's probably because a lot of those who were calling out Bitcoin and other cryptocurrencies, have filled up their bags and they are "on OUR side"... But, as we have witnessed, the narrative is still here, served by mainstream media and incompetent politicians... Why so hard words? Well, because the statement is a huge lie and not the truth at all... There are studies that only around 0.34% of crypto transactions WERE used for such "activities", which is ridiculously far away from MAINLY USAGE!

Personally, I couldn't care less for mainstream media, and I said that many time... We got "news", or better said, "STORIES" that we HAVE TO hear at a certain time... But, unfortunately, a lot of people find valid mainstream media as a valid source of information...

Also, we have another group of people who USE this kind of misinformation for reaching their goals... And something like that was (is) happening at these moments... After that unlucky statement, it was a perfect trigger for the next big FUD, and a great opportunity to dump Bitcoin price... So, whales have used that by dumping their BTC, trying to lower its price (and succeed in that)... When "mainstream media believers" dumped their BTC, what do you think, who will pick them up? But this time 40-50-60% more than they had BEFORE the dump...

Don't forget to check out the video...

Thank you for your valuable time,

~ph~

Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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