Crypto: When does pessimism become FUD?
I saw a post today on Hive where the author was trying to do some technical analysis about the market. So I noticed that the person didn't do hopium or FUD analyses, just analyses based on the altruistic state of the market and what to expect next.
So, after reading through, I decided to check the comment section, and there was one particular comment that piqued my interest.
I have had similar comment from this particular user on my post sometimes back, and the sentiment they echoed on my post was just like the one they left on this beautiful piece of technical analysis sone by the original poster.
The original poster's post was quite long, and in one of the paragraphs, they expressed some concerns about Hive. Now, the person who commented below highlighted that section of the post and wrote their entire comment on it.
They did not even take the time to read the original poster's analyses, and I have noticed that this same user expresses this sentiment almost everywhere they see a technical analysis of the market, particularly TAs about Hive.
In the majority of their comments, they were certain that Hive would fail and would most likely not pump with the rest of the market because the DHF was funding useless projects.
They also went on to say they don't mind if everywhere goes to hell , as they have nothing to lose.
Now, this account has a strong reputation and has been sharing content for a long time. So my question was, why stay on a ship that will potentially sink, while also seeking for active support for their contents?
I guess eat their cake and have it
For me, there is a distinction between constructive criticism and FUD, and we sometimes transition from the former to the latter.
Now, if this account had not been sharing this sentiment on posts everywhere they went, I might have assumed it was the market making them angry, as it does to all of us.
Almost everyone shares the DHF funding sentiments. 90% of the people here are against the DHF piling debts on Hive, and while there are many people who want the DHF to be terminated, it is still disbursing cash to valueplan and others.
I understand how infuriating and annoying this can be, but using it as a narrative to spread FUD throughout the chain is no longer considered constructive criticism.
At some point, it begins to rub off as the truth
Because of our life experiences, it is easy for us to fall into pessimism. I've been in a pessimistic place, and it's hard to imagine that a fun guy like me will be in that place, but here's what I've learned about pessimism: It causes you to ignore all positive cues and concentrate on the only negative cue.
It is like a kid finishing second in class. Now they forget that they beat 20 or 30 other students in class to second place and concentrate on the fact that they were unable to beat or outperform the person in first place.
We now underestimate how easily pessimism can rub off on others. Most of the time, we reflect our ideas or perceived reality on how reality feels, which can cause or create ripples.
Will the DHF stop or reduce funding for valueplan?
I do not know.
Unfortunately, this is one of the few drawbacks to the Hive Blockchain's consensus mechanism, delegated proof of stake (DPOS). Users with no stake in influencing DHF funding can only complain but not change anything, so why?
Because the Blockchain is designed in such a way that they only need a skin to have a voice.
Will this have fatal consequences?
Perhaps, but should we dwell on it, or should we continue to speak out and advocate until something changes? Maybe the second idea is better.
For me, I try to avoid FUDsters as much as possible because I believe their perception of what will happen is skewed. We do not know what will happen in 3 to 4 months, but we are not the worst in the crypto space, and we have done more good than bad.
I like to see the glass as half full rather than half empty, and I am a very pessimistic person to some extent, but I try as much as possible not to let my pessimism become FUD.
Interested in some more of my posts
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The DHF funding has been something a lot of people have talked about, but its hard to affect anything regarding it because of how much stake the whales have. I still think Hive is great despite the DHF funding.
Well that's true. The valueplan aspect is even the one that needs urgent attention, because let's be honest, people needs something that puts their mind at ease.
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We all know the DHF is an anchor around the neck of Hive, and needs to be controlled. Will it ever be reigned in? I hope so but who knows. People who write that the end is near yet keep a huge stake and want to earn more rewards just makes no sense. If it's so bad why not just get out before the ship sinks?
As far as the DHF and Value Plan goes most of us have no power over it as our stake isn't nearly big enough, and it gets approved by just a few people with very large stakes...
It's really saddening, and this account has interacted with me in the past with the whole "sinking ship" ideology. I made sure not to argue with them and just let it be. It's sad to see how they now spread these FUD all around, while still waiting to keep earning rewards, it's shameful.
Personally I wish the big guns like blocktrade can see what people feels about valueplan and probably reduced the funding. Somehow I feel it brings this vote of no confidence. They have to probably do the needful. I hate to see it when people carry the DHF agenda and take advantage of it to FUD the chain.
I think it would make more sense to push for changes that would allow more people to have a say in what gets funded or perhaps try out different voting ideas because in the end complaining never solves anything and Hive still has some very good features such as the ability to play with tokens or have a blog directly on the chain, so even though the DHF part is annoying it's not the only thing that matters, Hive can be way more than a blogging platform, at least thats how I see things as someone who still not even a year into the chain
Hive isn't just a blogging platform, that side id probably just one of the marketing scheme of the chain. The chain is capable of a lot more, and when we look at even the HBD stable side that pays APR, that's one huge aspect of the ecosystem.
Unfortunately DPOS will not change anytime soon, but this doesn't mean we cannot tweak how it works. Everyone is angry with the DHF and it makes no sense that nothing concrete has been done about it, but I think that's really not a reason to FUD the chain.
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