The Misuse of the Word 'Community' in Crypto
Kate Irwin, Head of Content at Veda, recently shared her thoughts on social media about how the word 'community' is the most misused in the crypto industry. Many believe that simply owning the same asset creates a community, but this is a misunderstanding of what a real community should be.
A real 'community' should be built on shared values and mutual trust—not just financial interest. If people consider themselves part of a community just because they invested in the same project, that definition is inaccurate.
Investors ≠ Community Members
In many crypto projects, so-called 'community members' are often just investors, gamblers, or collectors. Their main concern is price movement, not the project’s mission or long-term vision.
Relationships based solely on financial gain cannot form a true community. A real community requires mutual support, trust, and long-term commitment among its members.
Re-defining 'Community'
- True communities share common values and goals
- They involve trust and long-term interaction among members
- Not everyone who invests in a project should be labeled as part of the 'community'
The crypto industry needs to reevaluate the concept of 'community' to ensure it is used accurately and meaningfully. Only then can the industry move toward a healthier and more sustainable future.