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
Previous Blogchain posts:
- My Tweets from March, 2019
- My Tweets from February, 2019
- My Tweets from January, 2019
- The Ten Commandments of Bitcoin Core
- 10 GB Blocks
- Really, Really Big Blocks
- My Most Popular Videos on YouTube
- Against Lightning Network
- Let the Trolls Have Twitter
- Notes on Craig Wright’s “Trolls and bullies”
- How I Became the First Person to Upload More Than 1 GB of Data to the Blockchain
- My Photos From Blockchain History Day
- How I Filled the Three Largest Blocks in History with Thousands of Button Swipes
- Continuing Up Potrero Hill: A 57 MB Block
- 50 MB Blocks of Potrero Hill
- 300 MB Photo Journey of Ocean Beach
- Results of the First User-Activated Stress Test (UAST)
- Presentations, Panels and Podcasts (2014 - 2018)
- The Other Side of San Francisco: A 280 MB Photo Tour of the Tenderloin
- Uploading 173 MB of High Resolution Photos to the Blockchain
- Uploading Large Photos to the Blockchain
- Notes on Craig Wright’s “Free Speech” as it Pertains to Money Button
- Notes on “Theory of Money and Credit” by Ludwig von Mises
- My Notes on Craig Wright’s “Profiting from Privacy”
- My Notes on “Godel’s Proof”
- My Notes on “The Handicap Principle”
- Payment Channels, Craig Wright, and Money Button
- Putting Domain Names and Email on the Blockchain