Posted anonymously, 1 year ago


The cryptocurrency world has a lot of demagogues. These are people who control others through emotion (like anger or greed) rather than through evidence and reason.

Because these people use FOMO (fear of missing out) as a primary tactic, they distinguish themselves from typical demogogues. Thus I have dubbed them “fomogogues”. Their strategy is called “fomogoguery”.

I want two things written on my gravestone when I die:

  • Coined the phrase “blogchain”.
  • Coined the phrase “fomogogue”.

What follows are some humorous tweets I created about fomogogues and fomogoguery. They are humorous because they are so, so true.

Fomogoguery is an appeal to people that plays on their emotions and prejudices rather than on their rational side. Fomogoguery is a manipulative approach — often associated with pumpers, scammers, and Twitter — that appeals to the worst nature of people.

Fomogoguery isn’t based on reason, issues, and doing the right thing; it’s based on stirring up fear of missing out and hatred of the original protocol to control people. For example, a scammer that stirs up a fear of Satoshi to distract from other issues is using fomogoguery.

Fomogogue: A cryptocurrency leader who seeks support by appealing to the desires and prejudices of ordinary people rather than by using rational argument.

A fomogogue gains popularity on Twitter by exploiting prejudice and ignorance among the common people, whipping up the passions of the crowd and shutting down reasoned deliberation. Fomogogues promise or threaten to overturn established norms of political conduct.

“What is a fomogogue? He is a politician skilled in flattery and invective tweets; evasive in discussing vital issues; promising everything to everybody; appealing to the passions rather than the reason of the followers; and arousing PoW, PoS, and other consensus prejudices—“

“—a man whose lust for power without recourse to principle leads him to seek to become a master of the masses. He has for several bubbles practiced his profession of ‘man of the people’. He is a product of a political tradition nearly as old as Bitcoin itself. He is a fomogogue.”

Ryan X. Charles

Founder & CEO of Money Button

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