The Dark Influence of Werther: The Werther Effect Unveiled

Hello crypto enthusiasts! In this blog post, we'll dive into the intriguing and sometimes toxic events behind the crypto world. 🧐
In 1774, shortly after the publication of Goethe's masterpiece "The Sorrows of Young Werther," young men in Germany, Denmark, and Italy became obsessed with the novel, mimicking the main character Werther. 📚 Initially, it started with imitating Werther's fashion, but things escalated. A cult formed around the novel, with boys imitating Werther's speech and behavior towards girls. Artists began selling Werther-themed cups and plates, and someone even designed an "Eau de Werther" perfume to cash in on the craze. 🎭
However, the frenzy didn't end there; it took a dark turn. A wave of copycat suicides followed, with victims mainly young boys wearing the same eerie uniform, committing the act in the same fashion, using the same kind of pistol.
This led to the rapid banning of the novel.
The Werther effect
Two centuries later, in 1974, sociology professor David P. Phillips, the first to connect the dots, coined the term the "Werther effect." He published a scientific paper on the influence of suggestion on suicide, showing evidence that suicide rates increased immediately after a suicide story was publicized in the media. The more publicity the story attracted, the more significant the increase in suicides thereafter.
The Werther effect epitomizes the core thesis behind the social contagion theory. Sociocultural phenomena spread through populations like infectious agents. The social contagion theory views cultural traits as analogous to mind viruses or thought contagions, reproduced from one mind to another through mimicry or communication.
Does this sound familiar?
In 1989, evolutionary biologist Richard Dawkins coined the term "meme" in his book "The Selfish Gene," defining it as "a unit of cultural transmission or a unit of imitation and replication." Memetics suggests that memes, like genes, are discrete units of culture that spread by replication. In the post-Selfish Gene era, memes became reminiscent of the crypto industry during the ICO craze of 2017-2018.
Just as crypto influencers made ambitious claims, the "science of memetics" promised a new, unifying theory of culture. Despite its lack of academic support, meme theory is developed enough to adopt the meme's eye view — a useful tool for investigating culture.
Crypto tribalism through the meme's eye view
The crypto community is deeply factionalized and, as a result, almost unbearably toxic. Twitter, Reddit, or Telegram is a battleground.
Ethereum vs. EOS, Tron, and Tezos; Bitcoin vs. Bitcoin Cash and SV; XRP army threatening anyone critical of Ripple — it's chaos. What's worse, it's often fueled not by the masses but by high-profile figures: journalists, developers, lawyers, and entrepreneurs.
Mike Dudas and Peter McCormack built businesses by picking fights on Twitter. Vlad Zamfir increased stroke and seizure risks with "legal thought leadership." Changpeng Zhao threatened journalists, and Justin Sun vowed to sponsor cyber-harassment campaigns. Udi Wertheimer riles up the entire Ethereum and DeFi community.
Many in crypto contemplate leaving due to the toxicity.
The notion of quitting crypto for a pre-crypto life is as absurd as the idea that tribalism is detrimental to the industry.
The prevailing narrative is that progress could happen if everyone got along. However, Hayek's denationalization of money — the fundamental idea behind crypto — aimed to detach cash from the state, arriving at better money through competition.
Not getting along got us from a forum post to a $250 billion market cap in just over 10 years. Arguing over ideas is a driving force behind technological progress.
During the Cold War, tribalism got humans to the moon. Today, it's the toxygen fueling the crypto rocket. Factionalization allows testing different ideas. It might be toxic for hosts but invigorating for ideas.
Adopting the meme stance
The culture war is seen as a war between individuals. Adopting the meme stance is a better heuristic. Tribalism is a battleground of ideas, unrefined but potentially disruptive.
The bullish case for tribalism
Social contagion evidence suggests our opinions aren't our own. Acknowledging the bullish case for tribalism requires a shift to the meme's point of view.
The clash between digital gold and digital cash in Bitcoin isn't a bifurcated community but a clash between two fit memes, representing legitimate visions for a new financial asset. The fitness of memes will determine the asset's use, design, and regulation.
Nobody can predict the meme war's outcome. Both memes may survive in niche subcultures, or one may triumph. Tribalism isn't stopping crypto; it's the toxygen fueling the rocket. Factionalization is healthy for the industry.
Nothing can stop an idea whose time has come.
Even if memetics ends up in history's dumpster, the crypto community can use the meme's eye view. Stressors like shills, scams, and hacks help the industry evolve. Only those immersed in crypto are aware of these stressors.
The sun still rises, and the external world remains undisrupted — as if Bitcoin was never invented at all. 🌅 Crypto is antifragile, gaining from exposure to stress and disorder. The drama is part of the evolutionary process.
While memetics isn't a full-blown theory, the meme's eye view can help the crypto community appreciate antifragility. Embrace the chaos; it fuels progress. 🚀