It frequently happens in the crypto space that people with valid criticism or concerns are being discriminated as FUDers. Not every negative news you hear is automatically FUD, sometimes it is simply bad news based on cold facts.
It is important to figure out the difference between valid criticism and FUD by doing your own research. I admit this can be difficult but in the end, you alone are responsible for your own investment decisions and it is up to you alone to evaluate the information.
Attack of the FUD Fighters
There are numerous examples in crypto history where “FUD” Fighters trolled people who raised valid concerns. A famous example is the SafeMoon FUD Fighter Armee. They do nothing else than troll those who say anything bad about their beloved project even if it is legit.
This is something that happens frequently, especially in crypto and it is not limited to one single project. It is a phenomenon that if someone has justified criticism of a project, they will be hit with the FUD racket by the supporters of this project. It is a special kind of trolling critics.
My story about this Pantera guy involves Bitcoin Cash but I like to point out that Pantera is not representing the whole Bitcoin Cash Community. The great majority of the Bitcoin Cash Community are awesome people I enjoyed hanging out with on noise.
Pantera is not like the majority as he is just a Maximalist who likes to push things to the extreme and in the end, he is the one intoxicating the whole community. I believe that maximalists like the real green Bitcoin Cash warrior Pantera are actually harmful to their project even if they don’t realize it. I still believe that people who are bashing other cryptos more than they bash the banks and the traditional financial system are just toxic.
What is FUD?
According to the CoinGecko Glossary for cryptocurrency terms, FUD (short for Fear, Uncertainty, And Doubt) is
a strategy to dissuade people from buying a particular cryptocurrency by spreading false information.
Well, that’s definitely shady to spread false information just for the purpose to harm another project to drive the price of a certain cryptocurrency down. That is why no one likes FUDers, I get that. FUDer is a swear word.
The opposite of FUD is valid criticism based on hard facts. Valid criticism is important for the whole industry to grow and trying to label valid criticism as baseless FUD is as harmful as FUD itself. It is also shady behavior. These people don’t fight FUD at all but they are creating more of it.
My Criticism Of Bitcoin Cash
At the beginning of 2021, I had a real problem as I was not able to send my Bitcoin Cash anymore, not even by paying an exorbitant high transaction fee.
Screenshot of my cluttered BCH wallet with some fun stickers.
How did that happen? Until then I thought that Bitcoin Cash is famous for its super-low transaction fees. I thought this is impossible and I initially blamed Atomic Wallet for this super-high transaction fee.
I reached out to Atomic Wallet regarding these high transaction fees. Atomic Wallet replied to me and explained that this issue can be caused by many incoming transactions that are cluttering the wallet. This is an issue of the Bitcoin Cash Blockchain and not an issue with the wallet.
Many incoming transactions, I was wondering. Indeed, I had hundreds even thousands of tiny incoming transactions, mostly fractions of cents. They all came from a platform called noise.cash that was newly created. It was somehow like Twitter but with sponsored micro tips in Bitcoin Cash.
I was happy to receive a lot of these micro-tips until I realize that I was able to move my funds not even by paying a super-high transaction fee. This was what happened to me and I believe that you can emphasize to me that I had been upset about the inability to move my funds.
My Criticism Had Been Valid
My criticism had been valid, even if some people like Pantera did not want it to be true. Over time, more and more users from noise.cash were facing the same issue when they tried to send their earnings from noise, even those who mocked me before.
At one point, even noise.cash understood the problem that was caused by all the micro transactions and acted on it.
You now had to enter your keys directly on the website. This allowed the website to start auto-consolidations. The thing is that you can avoid cluttering the wallet with many incoming transactions by sending the funds to your own wallet address. This costs a few cents of transaction fees and people started wondering about the “missing funds”.
After enough users wondered about the outgoing transactions, noise cash explained that this would make the wallet faster. But they did not tell you that this prevents your wallet from getting completely cluttered.
However, the issue was real, my criticism was valid and this is how noise solved it. After ten received tips, the wallet automatically sends all the funds back to itself.
The Reaction From The Real Green BCH Warrior (and Marc De Meselman)
As I was upset that this was an issue with the Bitcoin Cash Blockchain, I reached out to one of its biggest supporters Marc de Meselman on Twitter. I asked how is such a high transaction fee for sending BCH possible.
He retweeted my tweet and added the question “Is this FUD?”
This was the moment that I was officially marked as a FUDer for publicly mentioning that I am facing this problem with my Bitcoin Cash wallet.
It is a fact that many tiny incoming transactions are cluttering the wallet but nevertheless, I remained the FUDer, at least for some Bitcoin Cash Maximalists like this Pantera guy. He even wrote a whole article about it, exposing me as a FUDer who is too stupid to use a non-custodial wallet. I couldn’t believe my eyes when I read it but do you know what.
I know that I am right and that I always had been right. Guys like Pantera can’t silence me.
Here is an excerpt from Pantera’s FUD hunter post “How to spot FUD and how to defeat it”. This article is FUD itself and many who believed it got their own wallets cluttered in the end.
Make sure you read it. It is so stupid but at the same time entertaining to read.
For the record:
- Atomic Wallet is a non-custodial Wallet
- Of course, I wrote down my 12-word seed phrase. This is for multi-currency wallets.
- Some Wallets can handle the Bitcoin Cash blockchain better than others but at some point, ALL of them reach their limits, also Bitcoin.com wallet.
- I had the proof but he was too blind to see it in his biased Maxi mind.
However, I guess this is the stuff and the kind of people you have to deal with when you expose shit.
This will not stop me from bringing up criticisms or asking difficult questions. Such juvenile reactions like the one from the green BCH Troll Pantera are exactly what keep me going.
By the way, I also wrote an article back in the day to explain the issue with high fees for sending Bitcoin Cash. You can still read it here: A 15 Dollar Transaction Fee For Sending Bitcoin Cash!? 🤯
And another interesting thing. Noise.cash is closing soon, something that I predicted more than a year ago and again, I had been called a FUDer.
Also, in this case, I don’t care if they call me a FUDer because I know that I had been right: “I Go All-In On Bitcoin Cash Because It Is The Real Bitcoin” 🤨 Really?
My Final Conclusion
At the end of my post, I like to point out that the essential message of this post is not that I had been right and Pantera man had been wrong. The essential message is that critics are frequently getting labeled as FUDers and it is up to you to spot that.
You alone are responsible for your investment decisions, that’s why you always have to do your own research to separate baseless FUD from valid criticism.
Most of you already know that FUD is a method of market manipulation. On the other hand, silencing everyone who has critics as a FUDer is also a shady method of influencing the markets. There may not be a special acronym in the cryptocurrency glossary for this kind of trolling but nevertheless, it is as shady as FUD.
Thank you for reading and if this is the kind of stuff you like to read here on Publish0x, I would be happy about a follow.
If you like you can follow me on Twitter and Medium.
