Polish Financial Authorities have started a new smear campaign in order to warn people about investments in cryptocurrencies. The campaign is basically receiving promotions on youtube and facebook. The warnings are being issued through renowned youtubers and for the same Polish Financial Authorities paid them as well. The video consists of the warnings that are basically issued to educate the public against the risky investments which are no more uncommon throughout the globe.
Let us get into the insights of the matter. The Central Bank of Poland, Narodowy Bank Polski (NBP) along with the Financial Supervision Authority of the country Komisja Nadzoru Finansowego or KNF took this step. The motive of doing this was to spread awareness and conduct a smear campaign against the crypto investments. For carrying this task out smoothly both the parties together made a payment of more than 90,000 PLN. The amount is transferred to the youtube network of Poland to assure the maximum reach of the campaign.
Moreover, the results of the campaign are not satisfactory enough. A silly video depicting the entire scenario is being viral on various youtube channels. The title of the video is ‘I Lost All My Money’ which is depicting the negative investments of cryptocurrencies. The video appeared on 8 March on youtube on Marcin Dubiel’s channel. The channel is owned by a Polish youtube prankster and has more than 900,000 subscribers. The video is marked with a hashtag #uważajnakryptowaluty. The hashtag is associated with the website which is developed by NBP and KNF.
The meaning of the hashtag is a warning which goes ‘virtual money is not money’. However, the local reports claim that there is no sign of any campaign issued by NBP and KNF on the video. Also, there is not any mark of paid promotion on that video. Further, if anyone judges the video on the basis of the content in the video then it can only influence kids. Thus, if we analyse the outcome of this step taken by the Polish Financial Authorities, there still exists a scope of some improvement.