Fear, Uncertainty and Doubt or FUD is the new acronym in crypto circles, but it\'s not so new as all that. The first recorded usage of the term occurred around 1920, and it was commonly used in the 70s within the computer industry. The modern term is connected to an employee of IBM who left to found his own company and who then was targeted by IBM with lots of bad press because he was seen as a competitor.

This is one purpose of FUD: to keep one’s own customer base by talking down a rival product, usually because you\'re scared the rival product will be much better. Typically, any established industry will be bound to spread FUD about any new industry which threatens to supplant it.

FUD strategies include spreading fake news, giving out misleading information and outright scorn. To undermine public confidence in new technology, practitioners of old tech call it fraudulent, a bubble or a scam. If the system has kinks and needs work, the FUD will impede its development.

Does this sound familiar? As Bitcoin technology gets stronger critics in the mainstream are now beginning to spread FUD. Bankers see profits diminishing, and governments see potential tax income floating away on a tide of decentralised ledger transactions, and so they issue serious warnings about \"potential threats\" and \"asset insecurity,\" but in reality, all of this talk is just FUD.