Bitcoin: A Cult Phenomenon
Though the term “cult” has a negative connotation, adherence to the Bitcoin ideology is about changing the world for the better.According to Tim Draper, an American venture capital investor, Netflix will be the next Fortune 100 company to buy bitcoin. Moreover, the billionaire believes that it’s only a matter of time before Amazon has little option but to accept the cryptocurrency for payments. This comes at a time when the likes of MicroStrategy and Tesla are moving parts of their corporate treasuries into Bitcoin. PayPal has been busy purchasing a technology firm called Curv, which....
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Former Goldman Sachs analyst, Murad Mahmudov has unexpectedly criticized two prominent cryptocurrencies, Cardano (ADA) and XRP. The analyst has labeled both altcoins as cult meme coins, sparking heated debate within the crypto community. Analyst Claims XRP And Cardano Are Cult Meme Coins In an X (formerly Twitter) post on June 4, Mahmudov declared that XRP […]
CULT DAO, one of the projects pushing for faster adoption of decentralized finance, revealed plans for a Revolt 2 Earn (RVLT) token, which earned the awareness of Anonymous. According to the group’s recent Twitter bio, the collective known for its hacktivist activity seems to appreciate the upcoming concept. This alleged support does not come as […]
Nobel Prize-winning economist Paul Krugman says he has given up predicting the imminent demise of bitcoin. The economist now suggests thinking of the cryptocurrency “as a cult that can survive indefinitely.” Nonetheless, Krugman still believes that bitcoin has no fundamentals. Paul Krugman Likens Bitcoin to a Cult That Can Survive Indefinitely Nobel laureate Paul Krugman said on Twitter last week that he has given up on predicting bitcoin’s demise. Krugman won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 “for his analysis of....
A recent article by Filip Martinka delivers a damning characterization of the cryptocurrency world: we are a bunch of cultists, acting against our self-interest, religiously promoting something and trying to draw others into it as a means to expand its influence. The article takes the typical characteristics of a cult and breaks them down alongside the characteristics of Bitcoiners. Here are some of the things that, according to Martinka, make us cultists: The group is preoccupied with bringing in new members. The group is preoccupied with making money. The group has a polarized....
Do Bitcoin fans gravitate toward steak so often because they view themselves as cowboys, or because they’re just health-conscious?