Exposing Censorship at r/EuropeFIRE
On 06.02.2021, I was censored on the r/EuropeFIRE subreddit.
The TLDR version:
I started a thread to address some of the users’ questions and misconceptions regarding an asset class that seemed boycotted on the sub. Within a few minutes, my post was removed. The details are below.
The Full Story
It all started while I was reading the comments on this post:
“How much of your portfolio is crypto?” (Reddit link)
The responses were somewhat negative, at least initially, with this being the top rated comment at this moment:
“Nil. And every time I talk to a crypto advocate, it reinforces that decision.”
I understand that many people are disdainful about it, and that’s okay, but I was quite surprised with the lack of constructive discussion about crypto in a FIRE subreddit… I remember seeing a post every once in a while, but each time it’d be met with a similar, generally negative sentiment.
If you’re a reader of MonkWealth, you already know that I’m pro-crypto. I decided to start a new thread where the detractors can share their arguments and I’d try to address them in a rational discussion, unrelated to price speculation or compatibility for their portfolios.
So I wrote a post:
I went to get coffee, came back to see if there are any responses yet, and boom – my post was deleted within minutes. The moderator instructed me to use the existing thread (the one I linked to above) to discuss with people that are against crypto.
Anyway, I expected some backlash, but this selective filtering of crypto content caught my attention… And it all became obvious all of a sudden.
I wrote my post while wondering why is there such a bad sentiment about crypto and why knowledgeable enthusiasts were afraid of speaking up…
Well, maybe they weren’t afraid.
What if they’re simply silenced?
Censored.
Okay, am I blowing this out of proportion to call it censorship?
At the end, we’re talking about a subreddit that can be moderated however the moderators see fit. Of course it can be… And here are my thoughts about it:
Selective removal of posts is more than just bias
One doesn’t need to struggle much to notice the strong bias against crypto in the subreddit.
I’ve seen it in action and saw people getting ridiculed, downvoted, and made to feel guilty to even consider this asset class in their portfolios.
But hey, some bias is fine. I don’t see major issues with certain investments being frowned upon by a community. Disliking the same things can create stronger bonds than liking the same things.
However, once you start deleting posts on the topic, especially constructive ones from which the whole community could benefit, and selectively, it’s more than just bias.
It’s supposed to be a FIRE forum
My motivation to publish a post like this is because r/EuropeFIRE is the only subreddit (that I know of), or at least the most popular one, that claims to be about reaching financial independence in Europe. As it holds monopoly, its (currently) 26k users apparently have a limited access to differing opinions or discussing alternative investments.
I have nothing against any entity deserving its market share, but things change once silencing opinions becomes a thing in such an environment. Especially when people actually seek this information. Remember, the curious beginner came to ask questions at r/EuropeFIRE, not r/EuropeFIREByInvestingInStocksAndBondsOnly.
Discussions on any asset class should be welcomed in a FIRE subreddit. Both sides of the arguments need to be heard and informative disagreements need to be embraced. Removing on-topic posts of constructive nature, with good intentions, and potentially packed with valuable insights leads to the total opposite. It’s simply suppression of information.
What can you do?
Let’s park r/EuropeFIRE on the side for a moment.
If you’re being suppressed, silenced, or manipulated in any way, online or IRL, don’t just let it happen.
You don’t necessarily need to fight it either, unless it stops you from achieving a goal. But the minimum you should do is to seek more welcoming alternatives and share your experience with other people. Have in mind, nobody is completely unique – it’s likely that others went through something similar as you did. These people need to hear your experience, because many are left wondering if they’re doing something wrong just because the “majority” they interacted with was prejudiced.
Back to r/EuropeFIRE now…
Do I think participating in this subreddit is wrong?
No.
Actually, I think it’s a good place to ask questions as you’re beginning your investment journey. But once you’re beyond the point of “DeGiro vs Interactive Brokers” or “VWRL vs IWDA + EMIM“, there is not much value to be added, given that discussions get deleted.
And to be perfectly clear, I don’t think that anyone should go 100% crypto. I’m actually against 100% in anything, as an investor. I’m also a big proponent of stock market investing through a globally diversified portfolio of low-cost index funds or ETFs. I even published a book on the subject. And I think that traditional investments and investing principles should be understood first, before one even starts considering crypto.
And with my experience to support my claims, I can confidently say that an intelligent person on a FIRE journey would not settle for a dogmatic, one-dimensional, close-minded approach. He’d also most probably see the beauty in crytpo – as an investor first and then ideologically, as the libertarian he (probably) is by pursuing independence.
What did I do?
I left the sub and won’t interact with/in it anymore.
I would’ve stayed if I got downvoted and ridiculed, as I’m pro free speech. But censorship is beyond the threshold of things I want to be associated with.
Why am I writing this post?
Raising awareness.
Based on the swiftness with which this happened, I’m certain I’m not the only one that got censored.
Make no mistake, I don’t care that my challenge got deleted, although writing a blog post about it may imply otherwise. However, the truth is that it’s not about me – it’s about the community. If you were asking about cryptocurrency in r/EuropeFIRE and was left with bad taste and even more confused than before, please remember that it’s not because you’re dumb… Necessarily… You just found yourself at the wrong place to discuss these topics.
This post is for every beginner that asked questions and faced undeserved backlash.
Some additional comments and details for the curious
- Contrary to naysayers’ views, investing in crypto is more than a “YOLO bet” for me. That’s why I like to share the bigger picture with as many people as possible. By no means I’m encouraging making investment decisions without a careful assessments of one’s risk tolerance – with allocation proportional to their knowledge and expectations about the asset (class).
- If you visit the subreddit using the new reddit layout, you’ll see a rule against crypto in the sidebar. This section was added shortly after my post. I wouldn’t have opened a discussion if I saw rules against it in the sidebar, although I strongly disagree with a crypto ban on a FIRE sub in 2021.
- This post is not meant to be a critique of the moderators of r/EuropeFIRE. I actually had interactions with another moderator in the past, even linked to his blog a few times, and feel uneasy about writing a post like this. However, I’ll stay true to my purpose and raise awareness when freedom of speech and availability of information are suppressed.
- I’m not necessarily against filtering spam and off-topic discussions, although I believe that in more mature communities, the users’ votes (whether literally or using their attention) would do a better job of keeping communities true to their purpose than a human moderator.
- And for my fellow crypto enthusiasts, remember that some people can get overly or unjustifiably offended or resentful during a bull run they missed.
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