Beginning of FUD propaganda war?

[DaC0nsumeR]

If one Mars boi can influence the Bitcoin price to such an extent with a single tweet, causing the Cubans and Pomps et al. to come out on the defence, and now this crowdfunded pro-Bitcoin doc (https://cointelegraph.com/news/maximalists-at-the-movies-bitcoiners-crowdfunding-anti-fud-documentary-film), are we witnessing the beginning of a new cryptocurrency propaganda war?

[mk4]

Not sure such thing is necessary. While I'd like some FUD counter attack content for the newbies, if such a documentary would be fully funded by Bitcoiners, then I could already see the counter-argument from the FUDders — "the documentary is propaganda because it's fully funded by Bitcoiners".

[amishmanish]

I am in the camp that would say that the propaganda war never stopped but it has definitely gained a lot of Anti-Bitcoin backers in this bullrun. Seeing how everyone's and their grandma's Alt-coins are mooning, the Alt-coiners see this as an opportunity into a future where anybody can pre-mine shit and launch a company calling it "fair distribution".

They have warmed up to the possibility that PoW can be replaced as the Store of Value for Trillions of dollars of wealth as well as institutional adoption. This is actually about making a pariah out of PoW, not so much as to replace Bitcoin; but to ensure that people like the Garlignhouse's can print money for themselves whenever they want. This is uniting all the dogs against the king.

So yeah, the propaganda war is heating up and this documentary idea is a good one. I'll go donate.

[pooya87]

What you mean "beginning"? LOL
The "FUD propaganda war" has been a part of the bitcoin community for as long as I can think of and people have been trying to debunk them just as long; basically starting the same day bitcoin started being traded and had a price of 1 US cent. The earliest I've experienced was back in 2014-15 where they spread FUD about bitcoin that it is dead and will no longer go up and causes a 40% drop all the way down to $150.

influence the Bitcoin price to such an extent

He is not even in the top 20 FUD dumps of all time with the panic sell of about 17%.

[MFahad]

If one Mars boi can influence the Bitcoin price to such an extent with a single tweet, causing the Cubans and Pomps et al. to come out on the defence, and now this crowdfunded pro-Bitcoin doc (https://cointelegraph.com/news/maximalists-at-the-movies-bitcoiners-crowdfunding-anti-fud-documentary-film), are we witnessing the beginning of a new cryptocurrency propaganda war?

If you look in the history of bitcoin, you will find there is always people who spread fud. Their mission sometimes is not to bring the value of bitcoin down permanently, but to dump it s that they can fill their bags for cheap. These people like Elon Musk will again accept bitcoin in the future.

[cryptoperkele]

Funny thing is, FUD has been very efective and people started to talk flippening again like it was a new phenomena. If ETH doesn't flip bitcoin in MC this time, there will be very suprised faces how alts will crash so much harder on the next bear market. But i think this is far from over. Wait until btc takes twice of the energy to mine it and some politicians will be pressured to set new carbon taxes for it.

[amishmanish]

--snip--
The earliest I've experienced was back in 2014-15 where they spread FUD about bitcoin that it is dead and will no longer go up and causes a 40% drop all the way down to $150.

So from the perspective of someone who has been through possibly three of these epochs, would you say that the Anti-bitcoiners were ever so strong or had access to so much influence and wealth compared to the Bitcoiners of the day??

For example, as i pointed in the earlier reply, there are now hundreds of legitimate projects built on Ethereum that are regularly seeing billions of dollars in TVL and millions in daily volume. Compound, AAVE, MKR, Uniswap are just a few of them. They have big communities and sincere developers trying to bring DeFi to life. The thing is that most of those devs aren't concerned about the underlying "money" as long as it keeps coming onto their platforms. They are also not big fans of high transaction fees on PoW chains. This is why a lot of them find it beneficial to rally behind these other custodial solutions.

Apart from these, there are the obvious shadow players who just want to get rich at the expense of everyone else. Take for example, Ripple. People in that group will do everything in their power to discredit PoW and by extension, Bitcoin.

I feel like this is a threat unlike anything that Bitcoin has faced earlier and to top it off, the community is more distracted than ever. That is why, initiatives like this documentary are a must and the whole community should support them.

[mk4]

What you mean "beginning"? LOL

I think what OP meant by going to "war" is Bitcoiners actually fighting in retaliation not through the typical forum or social media posts, but through one of the mediums that big media businesses are using — documentaries.

[pooya87]

So from the perspective of someone who has been through possibly three of these epochs, would you say that the Anti-bitcoiners were ever so strong or had access to so much influence and wealth compared to the Bitcoiners of the day??

Their strength should be seen in relation to the size and maturity of the market.
For example if you have something like 0.02BTC you can be considered a big whale in a lot of altcoins and can effectively manipulate their price. Bitcoin market has been growing and maturing over the years so much so that it has made FUD less effective. Take the recent drama we had with the small hashrate drop due to power outage in China, it would have crashed the price for 40% back in 2014 but in 2021 it could only cause a small drop, I think it was 7% or something like that. FUD was strong during it too, they brought out all the big guns of "China controls bitcoin", "bitcoin will be dead soon", etc. People even started panic selling to the point where fees went over 150 sat/byte.

This is not to mention the massive FUD campaign of 2017 sponsored by a lot of malicious people with deep pockets including the bcash scammers, Ripple foundation, Dash pumpers and Ethereum foundation who even funded a lot of the spam attacks during 2017 to congest the network more and spike the fees. We still saw the >2000% rise during that year!

[germsite]

If one Mars boi can influence the Bitcoin price to such an extent with a single tweet, causing the Cubans and Pomps et al. to come out on the defence, and now this crowdfunded pro-Bitcoin doc (https://cointelegraph.com/news/maximalists-at-the-movies-bitcoiners-crowdfunding-anti-fud-documentary-film), are we witnessing the beginning of a new cryptocurrency propaganda war?

I guess we are lucky there aren't too many Mars bois (as you call them) around. Bitcoin has reacted to different influences in the past but became more resistant over time. I don't think we'll end up with Musk having any say over Bitcoin. It was just the excitement and his tweets found fertile grounds during the hype.

[BitcoinGirl.Club]

The "FUD propaganda war"

It's what make bitcoin great LOL
We have survived long years and have faced this kind of propaganda so many times that it feels nothing any more. The ride for bitcoin is a roller coaster. One day it could be over $60k and another day I will be below $60k. So what?

It has limited supply.
The demand is increasing.
Value will ultimately go skyrocket.

Just HODL!

[kano]

Reminder, a large majority of the world spends their time on twitter and facebook and are, to be blunt, mindless sheep.

The price today is still so far up from 6 months ago, it makes me wonder what people might be expecting ...

Every 'financial expert' who says they know what bitcoin is going to do, is lying.
The 'good' financial 'experts' are, from of all those who guess, those who happen to guess it right.
Next time they'll probably guess it wrong.

Last BTC high (end of 2017) it was trading that caused it, thus it was indeed just a bubble, and didn't stay up for long.
HOWEVER, it's lowest price after that was still much higher than any year before.

This is the first 'bubble' that isn't a true bubble. It's been high for many months.
No doubt due to more diverse interest in Bitcoin this time.
I suspect that interest wont even be able to suddenly disappear over night.

Meanwhile, the price went up a bit again in the last hour