The decision of El-Salvador to adopt Bitcoin as a legal tender, the reaction, from both within and outside the crypto World was undeniably loud. There were both positive and negative reactions in kind, perhaps justifiably so from whatever position the observer took. The major issue with those reactions though was the tendency to exaggerate outcomes and hastily pass judgement.

From a symbolic revolution to a collapse of El-Salvador's economy, a lot of things were said in the spur of the moment. It is in this type of sensational reporting that the mainstream media seems to thrive. A lot of People stop thinking at the point of sensational news (good or bad) coming their way, making it easy to get carried away.

Beware of Alarmists

We have seen their works play out severally, and it is mostly carried out by big news outlets seeking to either push an agenda or grab attention. When Alarmists operate, they make a deliberate effort to pass the effect of their message, even if it means the actual truth is relegated to the background. We saw that in quite a few examples when there were attempts to discredit the entire cryptoverse as a beehive for fraudulent activities despite the obvious security the blockchain offers compared to our conventional monetary system. If we are not on guard, it is easy to be swayed by doomsday reports especially when we fail to do our own research.

Beware of Echo Chambers

These exaggerations go both ways though. For us in the space we are in as much danger believing our own bull**** than we are falling prey to external doomsayers. I go back to the El-Salvador example because it is fairly recent. There were way too many opinions (I think a couple were from me) on how we were on course to a complete overhaul of the monetary system. The problem with echo chambers is that we give timelines to processes as if they were mere goals, and become hasty in our expectations.

Let's always remember that crypto is beyond its current prices, or future prices for that matter. It is a technology that will usher us into a new era of more secure, less centralized and more trustworthy transactions than we have

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