Too much BTC , Too much Crypto - What the crypto naysayers are saying amidst the rising BTC value?

Today I did an experiment. Nothing fancy but I tried something that I would normally not do. So, what do I normally do?

Typically, I would spend 100% of my spare time reading and learning about issues that matter to me. The top of the list is - crypto, regulations and related economic events. That means, I spend almost all my free reading time learning about crypto. It includes my engagement on hive and leofinance. I read, curate and write. And, most of the posts I read and write are on crypto assets.

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I never realized that I am deep into the crypto rabbit hole. Lately, I tend to only talk about crypto assets with my friends. I am not sure whether they enjoy the topic or not. My family members realized that I have been sharing too much information on bitcoin and blockchain technology. It means, I am spending way too much time on crypto and bitcoin. But, I am not complaining.

Just to leave this bitcoin and crypto echo chamber and to see what the other side has to say about this ongoing crypto rallied, I decided to follow a twitter handle that is well known for its opposite view. I wanted to spend some time to see what the narratives are and how the BTC naysayers are saying now when the BTC value is rallying like crazy.

One of the twitter handles I know is of Amy Castor, a journalist writing about cryptocurrencies, finance and blockchain. As expected, she is a non-believer. It is actually fun to go through her tweets and to read her retweets and likes.

I genuinely wanted to know what's the alternative narrative when I dived into this experiment. Here are a couple of tweets that I found.

These clearly show that the non-believers consider BTC and crypto projects as ponzi schemes. Bitcoiners are considered a cult who does not like to listen to the arguments against them. The no-coiners think that the price rallies are the manipulation controlled by the large stakeholders (the whales), money launderers and early adopters. The price pump and dump is artificial and will benefit the massive money printing that's happening through non-regulated stable coin mechanisms. Financial freedom and decentralization are the terminologies used to manipulate newbies.

So, I got out of my echo chamber but I am not convinced. I need more facts and arguments. There are always two sides of a coin. There will always be believers and non-believers. Everybody on the planet cannot and should not support a singular ideal. We need dynamism. But, we also need solid facts and evidence. Until then, let me read posts on Leofinance

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