Cryptocurrency Conspiracy Culture: The Unpleasant Nature Of The Bitcoin Space

The Unpleasant Conspiracy Culture of the Crypto Space

Since its inception, the crypto space has witnessed its share of both positive and negative theories, one of which is about a few families that control the entire economic system. This article looks into the unsavory conspiracy culture of the modern economic system, which often boils down racist and anti-religious reactions.

In a recent article published in Slate, a writer David Z. Morris pointed up what is believed to be happening in the crypto space—the threat of anti Semitism. Morris used a YouTube video, which has since been removed, connecting Goldman Sachs, the Rothschild family, and the crypto space in what seems like a gigantic conspiratorial network.

According to the video, which was linked to Zycrypto website, the Rothschild family is involved in consolidating global financial system using “IMMO,”—a digital asset.

Morris wrote:

“Zycrypto summarized mainstream reports that the banks Goldman Sachs and ING were strengthening their ties to cryptocurrency businesses. But it added the claim that both ING and Goldman Sachs are “owned by the Rothschild Group.”

The real name of the financial institution is Rothschild & Co. According to Morris,

“In a statement to Slate, Rothschild & Co. denied any involvement with cryptocurrency called IMMO and said it had no plans to launch any cryptocurrency at all. [….] Zycrypto’s other claim was equally preposterous. Citing only information “leaked on social networks, including closed Telegram channels,” the post claimed that “the Rothschild Group” was launching its own cryptocurrency project called IMMO.”

For the Rothschild family, the issue of conspiracy theory has revolved around it for centuries owing to its Jewish heritage. This simply perpetuates the winding spiral of anti-Semitic theories. If anything, these complex conspiracy theories date back to the era of the European fascism when people used mainstream media for almost similar purposes.

Morris further notes:

“The Rothchild’s supposed world dominance was the subject of one of the propaganda films Joseph Goebbels deployed to pave the way for the Holocaust. The fraudulent Protocols of the Elders of Zion elaborated on the “Jewish banking conspiracy,” but that document was actually created by czarist secret police in pre-revolutionary Russia.”

This obviously brings a fine line into the scene, which shows that no doubt certain influential institutions can exploit the crypto space to control the financial sector. This poses the question, “Should the crypto community be skeptical of the world’s dominant financial institutions and their dealings in the crypto space?”

Alternatively, such doubts often degenerate into suspicious reactions that borrow from the age-old stereotypes.

In the end, the decision rests with the crypto community, as to which voices are genuine and which institutions are risky and dangerous. The main challenge now is how crypto enthusiasts and investors can trust their wealth with a small but honest minority.

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