AUS
NZ
UK
CA
USA
IND
Summary
- FUD is an acronym for fear, uncertainty and doubt – all very familiar emotions for the cryptocurrency investor.
- FUD is the spreading of false or negative information about particular cryptocurrencies or the crypto market as a whole.
- The crypto community has a long list of protagonists, including Warren Buffet and Elon Musk, who have voiced cynical opinions concerning cryptocurrency in the past.
The world of cryptocurrency investing holds some interesting terminology, much like the world of stock investing.
One of these is FUD – an acronym for fear, uncertainty and doubt – all very familiar emotions for the investor.
More specifically, FUD is the spreading of false or negative information about particular cryptocurrencies or the crypto market as a whole.
Many crypto investors will use the term FUD to label anything that goes against crypto, particularly Bitcoin.
Source: © Rogistok | Megapixl.com
Moreover, the term FUDster is used to describe anyone who adopts a critical view of digital currency in general.
Who are the primary FUDsters?
The crypto community has a long list of protagonists who have voiced cynical opinions regarding cryptocurrency in the past.
These include famous investor Warren Buffet and economist Paul Krugman – both of whom have displayed negative opinions about digital currencies in the past.
Another interesting case is that of Tesla Chief Executive Elon Musk, who has often been one of crypto’s biggest advocates. But such is his seemingly stronghold influence over the crypto market that any negative word he utters seems to correlate to a downturn in the market.
Source: © Eamesbot | Megapixl.com
Earlier in 2021, Musk was criticized for voicing the concern that Bitcoin mining was having a harmful impact on the environment after he announced his car company, Tesla, would no longer accept Bitcoin for their electric vehicles.
This announcement corresponded with a massive correction in the price of Bitcoin, which has just reached record heights. This, in turn, resulted in Musk being touted as a FUDster.
Some Popular FUD Opinions
The criticism which comes from various crypto naysayers usually follows one of a handful of themes.
This includes the rhetoric that Bitcoin and cryptocurrency, at large, holds no real value. Some even go as far as to say that Bitcoin is the biggest Ponzi scheme of all time and that the government will soon ban it as well as the broader crypto market.
Another popular opinion is that cryptocurrency permits and attracts cybercrime and cyberattacks.
As Elon Musk made famous, another FOB opinion is that the mining of digital currencies is harming the environment.
Crypto enthusiasts will often tout these negative opinions as either inconsequential or already debunked. Some even go as far as to say it’s outright propaganda from certain government agencies.
The term FUD and FUDster is largely used on popular internet website and forum’s such as Reddit and Twitter.
MUST READ: From FUD to HODL, 10 Crypto Slangs Every Investor Should Know!
