Watch Out for the FUD Puppets

They have a name. They have an audience. They have perceived clout. It seems sometimes they have an agenda to dismantle certain ideas or reinforce a particular narrative. Who pays their wages? — not sure, but the FUD Puppets seem to come out strong on mainstream media against Bitcoin when needed.

They spread FUD — fear, uncertainty and doubt — which keeps the general public at bay. Most people don't have time to look into Bitcoin facts and when they hear these big names discredit Bitcoin, it just pushes it down further on their list of must-dos. The average person doesn't spend the time to validate whether what they hear is opinion or fact. FUD Puppets spew doubt into the minds of potential investors.

Image: Bitcoin Brunch

Here's a few FUD Puppet examples, posted on X:

Carol Alexander on BBC said, "[Bitcoin] it was just built as a sort of toy example."

Bill Maher recently said, — "Its ridiculous what crypto really is."

Jamie Dimon recently said, — "I've always been deeply opposed to crypto, Bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money launderers, tax avoidance..."

Jim Cramer once said, — "I would sell my Bitcoin right into this rally...I had been a believer onetime in Bitcoin, not here, not now."

The FUD Puppet's claims of doubt and pessimism rub off on the average listener. Investors and analysts alike, generally take the word of financial experts or the promoted narrative without spending the time to investigate a bit deeper.

It reminds me of the book, The Money Game (Adam Smith, 1968) — which is an investors classic about money that reveals how people and their perceptions are important factors in the game of money. As much as it is important to understand the fundamentals of investing, it is even more useful to understand the psychology of the market.

“No, Virginia, there is still a They, which may come as a surprise. They do get information first, They do have the ability to move stocks, and it helps a lot if you know what They are doing.” — Adam Smith

Once you understand the psychology of money and get past the head spin, it's easier to ignore them and it's not hard to focus on the mechanics of Bitcoin. The only hard part is deciding whether to call them Bitcoin Bozos or FUD Puppets.

Don't listen to what people say, watch what they do.

☕️ Bitcoin Brunch