FOMO, FUD, and the Human Condition

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Cultural memes about a specific phenomenon can give us general insight to the human condition. Cryptocurrency is characterized by volatile valuations that are endured by loyalists in the name of privacy, decentralization, and, if you’re lucky, a lambo.

 

Like any new enterprise, crypto creates neologisms (or neoacronymisms, to be more precise). Two of the most pervasive are FOMO and FUD. FOMO is fear of missing out. FUD is fear, uncertainty, and doubt.

Bitcoin

While these are legitimate worries for cryptocurrency investors, they are also hallmarks of existential angst about the very meaning of life itself. What am I doing with my life? Have I chosen the right career? Or at least the right altcoin? How important is privacy? Do I really need to do my own research?

 

Fear, uncertainty and doubt can haunt us, and sometimes lead to undue harshness when it comes to investing, and when it comes to life in general. Fear is the real problem, however. Because in life, investing, and all future events, we cannot escape uncertainty. This certainty of uncertainty makes a degree of doubt rational. So there is no reason to fear uncertainty because that is the condition of life. There is no reason to fear missing out either, as this sentiment arises from an unhealthy and unhelpful comparison to others.

 

Blockchain technology should make us excited for a future where decentralization might radically increase access to a global system of exchange. It may even change the very nature of wealth and valuation. This is no place for fear, but for the fearless. In crypto and in life, the best things happen when we move right past the FUD and so have no more FOMO.

Andrea

Co-Creator at Sedona Philosophy
Andrea creates opportunities for people to practice philosophy in nature and the public sphere, making it a resource for everyday life. She has been locally and nationally recognized for her work.

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