With the recent mass of influencers releasing their own meme coins and shilling projects known by insiders, many community members are stating their frustrations towards unwanted misrepresentation of blockchain technology and causing barriers for onboarding new crypto users.
Pro Crypto vs. A Quick Buck
What an interesting topic of discussion - What can we define as someone who is "pro crypto" ? Some people might interpret the idea as having a knack for buying and selling coins. Ideally someone pro crypto should be one who adopts the idea and supports the narrative. Looking forward to innovation on blockchain technology, decentralization of secure assets and real world utility. Not everyone will have the same outlook on the purpose and opportunities crypto brings. Not everyone will agree on one thing but the adoption of crypto is universal to all 'pro crypto movements'.
While one threshold of holders contains enough optimism to sacrifice time and money for the future of the technology, another threshold contains opportunistic adventurers and sharks ready to make a quick buck. Two significantly different motives, each setting eachother back.
Community Backlash
Long time crypto OG's with historically accurate predictions and pro crypto advocates have been sharing their frustrations online - The misleading tactics influencers have used to gain large amounts of money has essentially created fear and skepticism of crypto as a whole for new users, despite the spectacular innovation taking place on the blockchain.
With the recent "rug pull" from the President of Argentina, even people who have never purchased crypto would be hearing about this.
Would you want to invest in crypto if this was the first thing you heard?
Outlook on the Future
Ultimately the future is bright and crypto still has it's best days ahead. Blockchains host a whirlwind of innovation and it can be easy for new users to get caught up in a scam or make poor investment decisions. With the growth of mainstream adoption accelerating and governments recognizing the potential of crypto, we are seeing more and more real world use cases and i believe the trend is only going to continue. While influencers pose challenges to trust and security of innovative projects, I am optimistic that this will be a short term obstacle and humans will adapt to detect scams better every day and eventually flush out the over-hyped false narratives, bringing full utility projects to the spotlight it deserves.
