If you’re a Bitcoin holder or cryptocurrency enthusiast who also likes to use Twitter, you should probably know about one of the hottest new slang terms around sentiment on the short form social media space.
If you haven’t heard of people getting “ratio-ed” for their tweets, it’s a simple idea – take the number of likes versus the number of comments on a Twitter post.
If there are more than twice the number of comments, many would assume that there are enough naysayers to cancel out enthusiasm over what’s being said.
This week, news is making the rounds that the European Central Bank got ratio-ed for talking about fiat money.
“As a central bank, we can create money to buy assets,” tweeted a bank spokestweeter, setting off a tweet storm of questions about how exactly that works.
“Another tweet that got royally ratioed last night came from the European Central Bank, which was promoting the hashtag #AskECB. They got a little more engagement then they were probably expecting…” wrote an eToro guest poster Wednesday. “As you can probably imagine, the responses were filled with people wondering how they, as private citizens, could also “create money to buy assets” and of course an abundance of memes from the bitcoin community.”
Cryptocurrency fiends piled on, as the page mentions, partly because so much of the criticism of blockchain cryptocurrencies from central banks has to do with what they see as insufficiently backed or stabilized assets.
In other words, if Bitcoin can’t do it, why should central banks be able to imagine that they can whip up money out of thin air?
All of these happenings take place in the context of big debate over central bank digital currencies and much more. In the US, we’re looking at taking cues from regulators such as the SEC with its very slow process toward adoption or approval of a Bitcoin ETF. We see these ideas being batted back and forth, sometimes on twitter, and maybe looking at twitter ratios gives us another tool to understand whether or not we’re getting closer to making 2019 the year of the blockchain.
Regardless, as an investor, you can decide which coins you want to back, and how to assess their progress. Of course, you want to watch markets looking for Bitcoin or Ethereum’s rebound, but you can also take it a page from finance officials who have their own definite ideas about how cryptocurrencies will work in the financial future.