Crypto in the era of Fake News: Fear the FUD

I can not believe what I am about to say: the annoying agent orange Trump may be right about how some news are covered. From different personal life lessons, I have witnessed the lack of specific knowledge of the news channels, with most of them just re-posting without any kind of fact-checking. During the past 18 months I have been invested in cryptocurrencies and lived with the apparently never-ending price corrections, but none was like this one. I am not talking about the magnitude of the price drop, I am talking about how the market has been driven by a mass of new investors that believes all the crap from the mainstream media. Certainly, I believe a correction from the December “over-hyped reaction” was needed and for those arguing that the bubble just burst I remember you that one-year return for those who are true believers of the power of decentralization is still over 8x, so just keep whining over crypto and investing in bonds and other boring stuff.

I believe that blockchain could probably be the most important invention of the 21st century tough it is not rocket science, but the economic disruptions that it could lead are mind-blowing, from making the real estate completely liquid to create a universal identification trustworthy database. Of course there are some scammers in the field and it is not too hard to spot them, but you will need to be more educated in the cryptoworld, but that does not have to undermine the greatest technological revolution of our era. As expected the ones trying to undermine this revolution are those that have led a world where wealth inequality have skyrocketed for the past decades. Are you really believe that Bitcoin and the cryptoworld were going to win this war without losing some battles? The January drawback was caused by a bunch of bad news but most of it misleading information and the increasing concern of regulators. The loved excuse of the regulators is that secrecy of crypto transactions make it easier for criminals? Come on, even in the mainstream financial system criminals operate with impunity and big corporations like HSBC help in money-laundering. This is a very pathetic way to diffuse attention to real issues like government’s corruption, that in the long-term cause even more damage. There are two great examples of how this is a very naughty war lead by misleading information paladins.