Investigating Factors Related to Fear, Uncertainty, and Doubt (FUD) in End-User Cryptocurrency Behaviours

Abstract

Fear, Uncertainty, and Doubt or FUD, is relatively understudied in relation to cryptocurrency. It is a feeling derived from negative cryptocurrency-related information and it prompts adverse sentiment. This thesis addresses knowledge gaps on FUD by exploring its relationship with trust, and cryptocurrency information-seeking practices. We conducted 23 semi-structured interviews with cryptocurrency adopters and non-adopters to investigate triggers of FUD, FUD-induced behaviours, and how people form trust assessments of cryptocurrency information. Using thematic analysis, we classified FUD triggers found in our data across the personal, societal, and systemic level. Furthermore, we identified how participants make either cursory, extensive, or negative trust assessments of cryptocurrency information using attachment and depth. To illustrate this process, we proposed a model of trust assessment pathways. We then provide four recommendations on combating FUD, and suggest areas of future work.