Counterintuitive Fall 2024

TikTok Therapy

Depression is more than just feelings of sadness. It is debilitating, dark, and a time filled with sorrow. Having depression makes a victim feel like a puppet on a string; not allowing them to eat, bathe, or attend work or school and be controlled by this monster inside their mind. It is normal for humans to feel dejection every once in a while, but depression amplifies these feelings, causing one to feel as though they are drowning. In extreme cases, depression can lead to suicidal thoughts or actions, causing a sufferer to harm themselves or end their life due to the extreme sadness which encapsulates their every move.

Throughout history, the stigma behind mental health, more importantly depression, has changed dramatically over the last several decades. While some generations considered depressive and sorrowful feelings to be a hoax, others found them to be impactful to the daily life of the individual battling these feelings. Numerous years ago, the mood disorder would have been overlooked and those who had fallen into the deep dark hole of depression would have been told to “toughen up.” It was not common for agonizing individuals to make their sadness known. Within recent years, depression awareness has been on the rise, creating additional resources for the people who must utilize them in order to overcome their battle.  Through more resources becoming available, depressed individuals now have multiple options to choose from when attempting to cope with depressive thoughts and emotions.

The mindset regarding depression and the way sufferers chose to cope with their desolate state have continued to change. Some choose to attend regularly scheduled therapy sessions, whereas others turn to online communities on apps such as TikTok,  made up of members who share their same struggle and sorrow to find relief. It is critical that each person who may be struggling with depression gets necessary help through therapy, or another positive outlet which they feel comfortable indulging in. When consulting a rewarding form of therapy, a person is able to move past the trapping depressive state, and resume normal behaviors and life activities. The outlet one chooses to consult may differ depending on the person. While some people choose to turn to a therapist, close friend or family member, others choose to find a group in which they relate to on social media. The aforementioned group provides the sufferer with an online community to serve as their rock during that period of time.

Various types of videos are posted on TikTok, serving as a way for users to express themselves. Through this concept, some users choose to post comedic videos, while others post about their lives, some post dances, and a majority of content creators post about a cause or experience which they hold close to their heart. In this specific case, influencers that post about their struggle with depression are extremely appealing to users that are suffering from the same mental struggle. As a depressed user of TikTok continues to interact with and view the videos of the content creator who is sharing their personal testimony, the algorithm built into the app will recognize it. Once the algorithm acknowledges the consistencies within the videos being liked by the user, specifically the videos regarding depression, videos containing information about depression are more commonly shown to the sufferer. Within the comment section, the creator and viewers are able to interact, where they can develop a friendship. With the comment section being visible to other users, they are able to join in on the conversation regarding the topic of depression which applies to them, allowing a community to be formed.

While therapy is seen to be a valuable resource for treating depression, it is not available all the time, and not all civilians suffering with depression have access to therapy due to personal circumstances such as healthcare. By having a one hour appointment once a week, it gives users limited time to develop coping mechanisms to combat their depression and even less time to speak about their feelings. Through this free online platform, users who are fighting the debilitating feelings are able to open the app at any time, and watch any video that will aid in their struggle for an unlimited amount of time. TikTok can serve as a form of therapy in a moment’s instance, whereas in person therapy must be scheduled and planned ahead of time. By having the app, serving as a coping mechanism, in the palm of the hand of a user suffering from depression, it allows relief to be almost instantaneous.  Once the content consumer finds an influencer who helps them battle their struggle, they are able to open the app directly to their page and find a feeling of peace and escape from the depressive thoughts consuming their mind. A therapist may not always be able to be there for their patient in a time of crisis or breakdown, but TikTok is constantly available on the screen of a viewer, allowing them to calm themselves with a video posted by their favorite creator. 

Once the content within the app known as TikTok is able to cure or lessen the dark and depressive thoughts of a user, they have the ability to share their story. If one chooses to, they could also make videos discussing their battle with depression and what methods pulled them out of the situation. By a recovered depressed individual creating and posting a video on the platform, it will then continue to reach others who are sharing that same struggle, allowing for a sense of community to be formed. Through this process, more and more content consumers struggling with depression are able to be reached, enhancing the therapeutic component within the app. 

If a user is not comfortable making videos or sharing their story regarding their previous, or current, depressive state, they have the ability to comment on videos, which will still reach their intended audience. Through captivating the audience in the comments, the user will still be able to share their story without having to verbally speak or show their face on the platform. Connections made between users in the comments and the influencer who posted the content, a community can be formed which addresses the struggle with depression. Each member of the newly developed online depression community has the ability to lift the other users up through their testimonies, reminding them they are not alone within this dark period in their life. The TikTok group is also able to share coping mechanisms which helped them recover from their depressive state or episodes, overall bettering the lives and mental health of those who associate with the community.

Due to the continuous expansion and popularity of social mediums, teens feel the need to spend more time viewing the popularized content. Sources claim that TikTok can serve as an addiction for teens, increasing levels of depression by seeing the unrealistic “perfect lives” of content creators. While some supporters view TikTok to be helpful for the mental health of users, other critics view it to be harmful to users, causing an uptick in depression rates amongst teens.

Numerous aspects develop opposing opinions, including, but not limited to; personal experience, research, messages through the media and word of mouth. If a person were to state an argument claiming TikTok triggered a depressive episode following use, then they have a basis for their claim. In opposition, if a suffering individual has used TikTok while feeling depressed and it made them happier, the user’s personal experience with the platform demonstrates evidence that the medium has positive impacts on the user. 

When searching the impact of TikTok on the mental health of a user on the internet, there were more pieces of evidence that appear stating TikTok content causes depression in users. By the results that were generated first containing a negative connotation, this impacts the way a person views the entire topic. Each source which appears on the screen is from a high profile academic institution or news site, leading the researcher to believe the information is true. When, it will be extremely difficult for the searcher to find any source that lists TikTok as a therapeutic agent, especially when such sources are not any of the top generated following a search. 

Media sources produced in an online search have an extremely large impact on the way the public views things, as the way messages are conveyed has the power to create a bias and sway public opinion on a particular topic. With the popularity of a well known news source, there is a greater chance that these false messages will reach millions of people, allowing their opinion to be formed based on a report from a biased news source. 

CNN recently shared a story about experts believing  TikTok is one of the leading causes of the current mental health crisis within our country among teens. Vanessa Yurkevich, the writer of the article, goes into great depth about the issues which TikTok is believed to produce. These issues range from  insomnia to distraction from other important daily life activities. Yurkevich even goes as far as to quote a high status government official stating that TikTok can serve as “digital fentanyl.” When a reader views those two, hard hitting words, they will automatically be swayed to believe TikTok is harmful, considering a government official compared it to a life ending drug. The intense language used to trick the public allows  the author to create a sense of danger surrounding the app and frames a quote in a manner which refers to the app being as addictive and harmful as drugs.

“A lot of teens describe the experience of going on TikTok and intending to spend 15 minutes and then they spend two hours and or more. That’s problematic because the more time a teen spends on social media, the more likely he or she is to be depressed. And that’s particularly true for at the extremes of use,“  said Twenge.

Yurkevich ignorantly included the quote stating that teens who spend long periods of time on the app become depressed while failing to consider the idea that content teens are viewing could be helpful or calming. Spending long periods of time on the app could be beneficial to the mental state of teens, as it allows them to feel a sense of belonging on the app, serving as a coping mechanism for their depression.

Each time a depressed TikTok user opens the app, content which is able to serve as a form of therapy can be displayed on their screen. Through the continued use and interaction within the app, the TikTok algorithm will successfully present the content of relatable influencers which sufferers long for. By viewing and engaging in the generated content, users dealing with the debilitating thoughts of depression are able to stimulate a response to the content, allowing it to serve as a coping mechanism. Through this concept, TikTok takes on a new reputation of being a positive resource in treating mental health struggles, particularly depression. Videos ranging from seconds to several minutes provide consultation for the watching sufferer, allowing them to particularly focus on content which is most helpful to their recovery. 

 While being blamed for causing depression in teens, TikTok is able to revoke such feelings through the content posted on the app by creators. Users may initially intend to spend a short amount of time on the app to give their mind a distraction from their problems, but then discover relatable and helpful content which engages their interests and aids in their struggles. While viewing comforting content for an extended period of time, users are able to find a sense of relief while watching videos of fellow creators going through a similar struggle, allowing them to feel as if they are a part of a group enduring a struggle. This allows the user to feel a sense of community, resolving any feelings of loneliness one may feel when battling their depression. This concept alone allows viewers to cope with their depression at any time, as TikTok has the ability to serve as a form of handheld therapy.

The TikTok algorithm contains a component similar to that of therapy, as it caters to the interest of the viewer, and what they find to be most interesting and helpful for their experience with the app. With this as a built-in feature of the app since its creation, some users may turn to the online platform to cure their depression, rather than a therapist or another therapeutic form. Through the help of the creators on the app, the users are able to gain strategies to help them overcome the grueling feelings of their depression, ultimately contributing to the recovery of the individual. With the guidance and first hand experience of the creator, possibly close in age to the viewer, who went through the same or similar struggles, serves as a life vest in the drowning feelings of depression. 

If the user is positively impacted by the advice and first hand account of the content creator who struggled with depression, they may continue to reference and follow along to see how the creator survives the monster that is depression. This will provide consistent relief for the follower of the content. In extreme cases, one may even comment on a video or message a creator to speak more about the method in which they have used to cope with their depression or lack of motivation. A comment on a video could reach each person who views it, allowing a community to be formed and friends or  confidants on the app to serve as theoretical therapy. Even strictly  viewing the comment section on videos could assist a user in finding others who have struggled with their own depressive battle, allowing the community to consistently grow, reaching a larger audience who will be impacted by the testimonies of others.

Word of mouth is one of the fastest ways in which information is able to spread. If a person has a negative experience on TikTok in regards to depression, they have the unprohibited ability to consistently spread negative information about the platform. In opposition, if a user experiences a positive revelation, aiding them in their battle with depression and chooses to speak on it, positive information will be spread about the app.  Through verbal communication, a user could share which content creators on the app helped with their recovery the most and served as a form of therapy in their battle. This could provide another user who is suffering from depression a starting point on their therapeutic journey. If a user chooses to connect with a suggested influencer, then they could spread the word about the positive impact the creator’s content has had on them and their battle with depression. In the comment section, the same user could suggest additional creators who they have connected with while exploring the app to aid other sufferers.

In reality, teens experience joy and happiness, by finding other teens similar to themselves, going through a dark time. Despite having a harsh reputation, TikTok serves as a space for creators to share their testimonies which will aid their followers with their own struggles. With the help of content creators sharing their encounter with darkness which is depression, awareness is able to be spread throughout the platform, reaching those who need it most. Opposite to the perceptions of others, TikTok does not divide users, but rather brings them together through posts which are relatable to the masses, allowing for communities to be formed.

When teens find a community on TikTok, it causes their depression to be reduced and even cured in some cases. The various forms of content aid viewers in their recovery and allow the sufferers to cope with particular symptoms of depression. Relatability amongst content creators allows users to feel as though they have a companion and role model to guide them through their adversity, which leads to an improvement regarding their mental struggle. Teens are able to find comfort in the short videos of the user, which impacts their mood and mental state. The more a viewer watches the content which a creator posts on TikTok, the more relief they will be able to feel, as they are connecting with the influencer. By finding a community on a platform to which a user feels a sense of belonging, the use of TikTok allows the user to feel less lonesome, causing the depression of the user to lessen.

When a teen frequently views the videos of a particular creator or videos which pertain to a specific topic, the TikTok algorithm begins to pick up on this. The TikTok algorithm will continue to generate content which is related to or similar to the content that the view found to be most interesting. As a sufferer begins to use TikTok more and interacts more frequently with the videos on their screen, the algorithm spits out similar videos. When a user shares, likes, comments, saves, or watches a video for an extended time period or even more than one time, it causes the algorithm to recognize the post as something the viewer enjoyed. The more the user does this, the more refined their content will quickly become, allowing their whole feed to be content they desire. When a user finds a content creator relatable, they are able to interact with the content of the user and the algorithm will bring them back to their sense of home and community,

References

Avella, H. (2023). “TikTok ≠ therapy”: Mediating mental health and algorithmic mood disorders. New Media & Society, 0(0). https://doi.org/10.1177/14614448221147284Tang X, Ding X and Zhou Z. (2023).

Behar, Virginie. “Healing the Depressed Self: A Study of Social Media Therapy.” DIVA, 21 June 2023, http://www.diva-portal.org/smash/record.jsf?pid=diva2%3A1771491&dswid=9058.

Towards Equitable Online Participation: A Case of Older Adult Content Creators’ Role Transition on Short-form Video Sharing Platforms. Proceedings of the ACM on Human-Computer Interaction. 7:CSCW2. (1-22). Online publication date: 28-Sep-2023.​​

Yurkevich, Vanessa. “Why Experts Worry TikTok Could Add to Mental Health Crisis among US Teens | CNN Business.” CNN, Cable News Network, 11 Jan. 2023, http://www.cnn.com/2023/01/11/tech/tiktok-teen-mental-health/index.html.

Implications of Low Self Esteem

As soon as we become aware of ourselves, and our surroundings, self-esteem begins to develop. In an ideal world, our self-esteem would highlight and reflect each of our successes. However even while it’s vital for psychological survival, our perception of our own value can be harmful if it doesn’t satisfy some basic needs. The article “The Feeling of Self-Esteem” defines self-esteem as the feelings, both good and bad, that we have about ourselves. How well we think of our own appearance and performance, as well as how content we are with social interactions, can all be indicators of self-esteem. Mood swings, trouble communicating with people, and interpersonal conflict are just a few of the many repercussions of low self-esteem.

Even while feelings of self-worth can fluctuate quickly, it appears that everyone has a baseline amount of self-worth that determines whether they are generally happy or unhappy with who they are. The sociometer theory focuses on the relationship between general self-esteem and social interactions. In the sociometer theory, one’s sense of acceptance by others is measured by their own self-esteem. Individuals who suffer from low self-esteem think they are less attractive, caring, and they also think they are less worthy of good things coming to them. It seems counterintuitive that people with negative self-views prefer negative evaluations, while discrediting positive ones, but they cannot escape their baseline of harshness. Authors McKay and Fanning of “A Proven Program of Cognitive Techniques for Assessing, Improving, and Maintaining Your Self-Esteem” explain how a person’s self-evaluations are greatly influenced by the particular circumstances they face in life. It is more likely that people may self-verify the negative aspects of their own self-concept in situations where they are insecure about their flaws.

Despite the fact that feelings of self-worth fluctuate rapidly, it appears that everyone has a baseline amount of self-worth that determines whether they are generally happy or unhappy with who they are. The sociometer theory focuses on the relationship between general self-esteem and social interactions. In the sociometer theory, one’s sense of acceptance by others is measured by their own self-esteem. Individuals who suffer from low self-esteem think they are less attractive, caring, and they also think they are less worthy of good things coming to them. It seems counterintuitive that people with negative self-views prefer negative evaluations, while discrediting positive ones, but they cannot escape their baseline of harshness. Authors McKay and Fanning of “A Proven Program of Cognitive Techniques for Assessing, Improving, and Maintaining Your Self-Esteem” explain how a person’s self-evaluations are greatly influenced by the particular circumstances they face in life. It is more likely that people may self-verify the negative aspects of their own self-concept in situations where they are insecure about their flaws. In “Mechanisms Underlying Self-Esteem Differences in Motivation to Repair Sad Moods,” authors Joanne Wood and colleagues describe how the Sociometer theory clarifies the contextual factors influencing feelings of unworthiness and how recent research suggests recalling a previous rejection reduces mood, undermines self-worth, and casts doubt on one’s sense of personal deservingness. This causes people with low self-worth to decrease productivity and get themselves out of depressive states. Their true self-perception is depressed by their incapacity to improve positivity in their life while attempting to preserve cognitive balance.

People who have low self-esteem will discover that self-verification and self-enhancement work against each other. Author Olivia Evans describes how people look for evidence to support their beliefs about themselves, whether they are favorable or negative, in her article “Self-Verification Theory.” Even when others give them positive feedback, people still tend to hold onto the same assumptions about themselves. The self-verification theory states that even in situations where acceptance is offered, feelings of rejection endure. As a result, if one was reared in a setting where accomplishment is valued highly, even top performers may struggle with self-doubt. Having been taught from infancy to cultivate self-assurance and self-worth, they interpret any setback as a personal failure. Helping someone’s self-worth reflect their successes might have the unintended consequence of making them always feel unfulfilled and on the hunt for wholeness, as author Alison Berman points out in her article titled “The Dangers of Basing Self-worth on Achievement.”

Cognitive distortions are the cause of these anxiety-inducing events and low opinions about oneself. This article, “15 Cognitive Distortions to Blame for Negative Thinking,” describes cognitive distortions as the ways in which our thoughts can trick us into believing less of ourselves in comparison to the outside world. These deeply rooted mental filters or stereotypes, according to a Harvard Health report, make people feel less confidence in themselves and raise their anxiety levels. One’s feelings and opinions regarding a circumstance become the actual perspective of the issue, regardless of any contradicting information. Prescott Lecky’s thesis, as presented in “The Handbook of Social Psychology,” holds that people are compelled to cling to persistent self-views because they provide their beliefs with a strong sense of coherence. Everyone experiences cognitive distortions from time to time. Numerous more cognitive filters, such as catastrophizing and excluding the good, are frequently used in emotional thinking, as discussed in “15 Cognitive Distortions to Blame for Negative Thinking.” It is a part of the human experience, although people who become angry or depressed easily tend to feel it more than others.

When unpleasant events occur, people with low self-esteem often react emotionally with greater negativity. Negative self-evaluations come from the critical, judgmental inner voice that lives in our minds and seems normal and familiar. It could be harder for those who lack assurance and confidence to control their inner critic. In the book “A Proven Program of Cognitive Techniques for Assessing, Improving, and Maintaining Your Self-Esteem,” author Matthew McKay explains that although the internal critic appears to have a free will and autonomy, it is all a delusion. The critic is a psychological jackal who preys on people’s optimistic views of themselves, undermining and demolishing their self-assurance.

In general, we exist on a continuum that some would consider successful, and others would perceive as failure, sometimes tragically even ourselves. We are neither who we think we are nor who other people think we are. Our thoughts, which are impacted by our concerns of being exposed and being inauthentic, have a significant impact on our moods and behaviors. In the article, “Why Low Self-Esteem may be Resistant to Change,” author Robert Joseph claims that inclusionary status has no direct bearing on an individual’s success or failure. People who have poor self-esteem could therefore be less aware of their own successes and failures.

A low sense of self-worth might be characterized by a lack of confidence in one’s own skills. For instance, a quarterback with low self-esteem can be more fixated on the interception he threw than the 20 receptions he made after winning a championship game. His confident running back, meanwhile, can only recall his one-yard touchdown and has already forgotten about his two fumbles. The article on counseling and mental health published in the “Texas Division of Student Affairs” states that self-esteem is more significant than the normal ups and downs brought on by situational changes. Neither person’s faith in their own convictions can be undermined by external evidence, nor by receiving a great deal of positive or negative feedback. Over the course of our lives, as we form an identity through interactions with other people and activities, our self-esteem changes. Having low self-esteem can stem from external forces, such as early childhood trauma and past experiences. Early childhood experiences are very important in forming one’s sense of self and allows for feelings of safety and love. Children having a positive emotional development is crucial since it will affect how well they manage their own emotions as well as their capacity to form positive interactions with peers. The article “Self Esteem and Mental Health” discusses how our upbringing—including the treatment we received from our peers, teachers, coaches, parents, and religious leaders—built our self-esteem.

People with poor self-esteem have deeply held self-beliefs that cause them to think negatively all the time because of prior trauma. Traumatic events have the power to undermine a person’s sense of self and have an impact on their self-esteem. Trauma frequently causes individuals to believe that things are hectic, and we have no control of our circumstances. In the article “How Trauma Affects Your Self Esteem”, Trauma shatters trust in ourselves, others, and the world around. It gets harder to believe we should have good experiences and to feel protected. Rebuilding confidence can be difficult when there is a lack of trust because it might lower our self-esteem. Identity disruption can also result from early trauma. It can be difficult to feel confident in who we are, which can cause uncertainty and loss of identity when memories or triggers from the past come back to torment us. These obstacles prohibit us from moving forward with more beneficial thought patterns and make us feel stuck.

Trauma affects, challenges, and modifies our self-perception. It also tests our relationship with our own life and emotions. Childhood experiences such as lying to oneself, fear, bullying, and disapproving parents can all contribute to poor self-esteem. A few factors that might make someone feel horrible include not fitting in at school, finding it difficult to live up to parent standards, and being abused or neglected, according to the article “Self-Esteem and Mental Health.” Any early events might result in identity loss if we let ourselves get consumed and obsessed on the worst parts of life. Whether we like to admit it or not, the events of the past—especially the ones that made us lack confidence—continue to shape the way we live our daily lives as we get older. We can identify situations that made us sensitive and link those behaviors to unproductive actions.

Low self-esteem people believe they are unimportant and that nothing they do will change, while high self-esteem people believe they can accomplish anything they set their minds to. Trauma’s detrimental effects on one’s sense of self-worth can contribute to harshness and self-hatred. In “The Toxic Effects of Negative Self-Talk” Author Elizabeth Scott states, self-talk that is critical prevents you from realizing your own potential and from having faith in your own talents. It’s any thinking that undermines your confidence and your capacity to change your life for the better. Therefore, having negative self-talk can seriously hinder your success in addition to being unpleasant. The article “Good Therapy” supports this idea by stating that trauma harms the mind by generating false thoughts and conclusions that don’t make sense. These ideas chip away at your self-worth and fuel negative perceptions to the point where the resulting crippling self-loathing makes you want to run away, hide, and always apologize for being alive. 

 Unresolved childhood trauma, according to the “Emotional and Psychological Trauma” document, leads to severe trauma and a decline in self-esteem as well as a sense of fear and helplessness that lasts into adulthood. When questioned about their life choices or successes, children whose egos have been bruised by neglect, abuse, or simple apathy as a child internalize their inner critic as a cruel parent; they frequently respond, “I always hear my father’s voice telling me I’ll never amount to anything.” He’s always criticizing me in my brain, even when I’ve accomplished something to be proud of. “According to a study cited in the article “Trauma and Self Esteem,” the development of PTSD results in a reduction of memory and attentional function. This interferes with daily living and encourages self-denial, hence lowering one’s sense of self-worth. This “inner voice” constantly reminds your subconscious mind of the unpleasant feelings you’ve had in the past and reminds yourself of the negative lessons associated with those bad childhood events.

Low self-esteem can have devastating consequences. According to the “Texas Division of Student Affairs” article on counseling and mental health, low self-esteem can cause several problems, including difficulty managing one’s emotions, an inability to make educated choices, impaired cognitive functioning, increased sensitivity to stressors as an adult, and an increased risk for mental health disorders like depression and anxiety. These devastating effects could hinder someone’s career and academic success, as well as creating more negative feelings. One may enter a downward spiral of self-destructive behavior because of low self-esteem.

Self-assessment is a critical part of everyone’s cognitive process because it quantifies self-worth and rewards success. However, self-performance cannot be measured accurately due to our low self-image sabotaging our success. The source “Self-Assessment: Why Evaluating One’s Own Competence Is an Intrinsically Difficult Task” claims that we internally believe external feedback is frequently imprecise, deceptive, and absent. As a result, we often do not correct the false beliefs we have about ourselves. Using inaccurate data to quantify ourselves, our actions, and our true levels of ability often differ from what we internalize. When we think less of ourselves, we often feel undeserving and fall short of our objectives.

If we are strong enough, we can stop doubts and negativity from affecting our own sense of self-worth due to other people’s opinions and biased labels. In “The Social Self: the Role of Social Situation,” it is stated that self-stigmatizing—the process of consciously incorporating labels from others into one’s own self-concept—can result from internalizing the labels others apply to us. Other people’s opinions of us have a stronger integrating effect on our oneself than our own self-evaluations. Any chance of retaining a high sense of self-worth can be undermined by racial or ethnic stereotypes if they are accepted by the people they target. Internalized prejudice, according to Rajiv and Hammond, is more detrimental than an individual’s self-evaluation. We tend to trust the negative opinions of others more than the opinions of ourselves. Minorities may develop prejudice against themselves after enduring prejudice their entire lives.

This first claim highlights the disparity between performance and assessment. Students tend to perform poorly when they believe they will perform well and well when they believe they will perform poorly. Performance and assessment have a negative correlation. Research by Leon, Vallejo, and others demonstrates that while students who anticipate performing poorly actually over perform, those who anticipate performing well actually underperform. Everybody has a biased opinion of themselves; some people overestimate, and some undervalue their cognitive capacities. Over estimators are just people who have illusions about their own abilities. However, those who underestimate their own abilities have internalized what they perceive to be others’ low opinions of them. They consequently undervalue their own worth and their own abilities. However, because of internalizing the inflated criticisms of others, they end up performing better than they anticipated.

By contrasting ourselves with others, we develop our self-concepts. We evaluate ourselves in relation to others, our opinions, and our skills on a social scale. According to Rajiv and Hammond, we rank ourselves against people we think are important rather than against everyone else. Peer comparisons are the most significant kind of comparisons. Though they can undermine our self-worth, upward comparisons may motivate us on to pursue professional growth.

Another example to describe Low Self-Esteem and High Self-Esteem individuals is introverts and extroverts. Due to their sense of accomplishment, extroverts are self-assured and cheerful. Since introverts don’t think highly of themselves, they are doubtful and negative. Self-monitors who adhere to “The Social Self” have faith in their own moral and social sense. High self-monitors, on the other hand, are transactional; they will change their actions to obtain an advantage or favor. When low self-monitors act on their conscience, their self-esteem rises. When low self-monitors don’t act on their conscience, they feel guilty. If we could be more honest with ourselves instead of wishfully thinking, if we could more effectively assess the frequently inaccurate information we receive about ourselves in relation to others, and if we could cognitively ignore prejudice instead of internalizing it, we would be able to make more accurate assessments of ourselves.

Resources

Australia, H. (2023, -08-01T01:49:06.424Z). Self-esteem and mental health. Retrieved Nov 1, 2023, from https://www.healthdirect.gov.au/self-esteem

CMHC Self Esteem. https://cmhc.utexas.edu/selfesteem.html

Emotional and Psychological Trauma – HelpGuide.org. https://www.helpguide.org. Retrieved Nov 1, 2023, from https://www.helpguide.org/articles/ptsd-trauma/coping-with-emotional-and-psychological-trauma.htm

How to Reduce Negative Self-Talk for a Better Life. Verywell Mind. Retrieved Nov 1, 2023, from https://www.verywellmind.com/negative-self-talk-and-how-it-affects-us-4161304

http://ebookcentral.proquest.com/lib/rowan/detail.action?docID=1023907. Van Lange, P. A. M., Kruglanski, A. W., & Higgins, E. T. (2011). Handbook of Theories of Social Psychology: Volume Two. SAGE Publications, Limited.

Wood, J. V., Heimpel, S. A., Manwell, L. A, & Whittington, E. J. (2009). This mood is familiar and I don’t deserve to feel better anyway: Mechanisms underlying self-esteem differences in motivation to repair sad moods. Journal of Personality and Social Psychology, 96(2), 363–380.

https://www.health.harvard.edu/blog/how-to-recognize-and-tame-your-cognitive-distortions-202205042738. MD, P. G. (2022, May 4). How to recognize and tame your cognitive distortions. Harvard Health.

https://www.simplypsychology.org/self-verification-theory.html. Self-Verification Theory. (2022, November 3).

Jhangiani, D. R., & Tarry, D. H. (2022). 3.3 The Social Self: The Role of the Social Situation. Principles of Social Psychology – 1st International H5P Edition (). BCcampus.

McKay, M., & Fanning, P. (2016). Self-Esteem: A Proven Program of Cognitive Techniques for Assessing, Improving, and Maintaining Your Self-Esteem. New Harbinger  Publications.

Mental Health: How Unresolved Childhood Trauma Impacts Adult Decision Making? Retrieved Nov 1, 2023, from https://www.india.com/health/mental-health-how-unresolved-childhood-trauma-impacts-adult-decision-making-6436317/

Samuel Parra León, Antonio Pantoja Vallejo, & James Byron Nelson.Variability In The Accuracy Of Self-Assessments Among Low, Moderate, And High Performing Students In University Education. https://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1430&context=pare

Susanne M. Dillmann.GoodTherapy | How Trauma Impacts Your Sense of Self: Part I. https://www.goodtherapy.org/blog/identity-trauma/

Travis J. Carter, D. D.Faulty Self Assessment: Why Evaluating One’s Own Competence Is an Intrinsically Difficult Task. https://compass-onlinelibrary-wiley-com.ezproxy.rowan.edu/doi/full/10.1111/j.1751-9004.2007.00031.x

Shifting Perceptions of Cryptocurrency’s Intrinsic Value

In the midst of a financial upheaval driven by cryptocurrencies, notably exemplified by the remarkable surge of Bitcoin, a profound transformation is unfolding. This shift not only introduces unprecedented investment opportunities but unfurls a rich tapestry of perspectives on the intrinsic value embedded within digital assets. This research position paper meticulously probes the generational nuances influencing the perception of cryptocurrency’s intrinsic worth, accentuating the pervasive impact of psychological, social, and experiential determinants shaping the perspectives of distinct age cohorts.

Cryptocurrencies, residing in a domain divorced from tangible materiality, boldly challenge established paradigms of value. Thus, unveiling the intrinsic worth of these digital assets emerges as an imperative for investors, policymakers, and educators alike. This paper contends that the perceived intrinsic value of cryptocurrency is an ever-evolving construct across generations, propelled by the nuanced interplay of sophisticated psychological frameworks, intricate social dynamics, and unique experiential landscapes. As we embark on this intellectual exploration, the contours of cryptocurrency’s intrinsic value promise to reveal themselves as a dynamic narrative, redefining our understanding of wealth in the digital age.

The generational lens serves as a crucial framework for analyzing the evolving perceptions of cryptocurrency’s intrinsic value. Older generations, shaped by experiences largely devoid of digital financial instruments, often grapple with skepticism and a perceived lack of intrinsic value in cryptocurrencies. Limited exposure and a traditional understanding of wealth contribute to this skepticism, as highlighted in the findings of the study “Motivations, Barriers and Risk-Taking When Investing in Cryptocurrencies” conducted by Prague University of Economics and Business.

Conversely, younger generations, born into the digital age, approach cryptocurrencies with greater openness. The study “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency,” undertaken by the Russian Academy of Sciences, Moscow, illuminates how exposure and familiarity with digital transactions foster a more accepting attitude among the youth. For them, the intangible nature of cryptocurrencies does not evoke the same skepticism as it does for their elders. Instead, they see the potential for digital assets to redefine the financial landscape. To navigate the complexities of generational disparities in cryptocurrency perception, it is crucial to establish a clear understanding of intrinsic value within this context. In the realm of cryptocurrencies, intrinsic value extends beyond traditional economic metrics. It encapsulates the perceived inherent worth or usefulness of digital assets, emphasizing their fundamental utility and stability.

The term “intrinsic value,” as used in this paper, seeks to highlight the perceived trust, utility, and societal recognition attributed to cryptocurrencies. Trust in the reliability of these digital assets, recognition of their utility as a means of exchange, and societal acceptance collectively contribute to the perceived intrinsic value. This understanding serves as the foundation for examining the nuanced interplay of psychological, social, and experiential factors shaping generational perspectives on cryptocurrency.

This research position paper synthesizes insights from multiple sources to construct a comprehensive understanding of the shifting perceptions of cryptocurrency’s intrinsic value. The chosen sources, including “Motivations, Barriers and Risk-Taking When Investing in Cryptocurrencies” and “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency,” provide diverse perspectives and empirical evidence that enriches the analysis. The subsequent sections will delve into the impact of social and psychological factors on cryptocurrency investment decisions, addressing common misunderstandings surrounding intrinsic value, and finally, presenting a cohesive conclusion that emphasizes the need for a nuanced approach in navigating generational divides in cryptocurrency perceptions. The evolving financial landscape, marked by the transformative potential of digital assets, requires a nuanced understanding that goes beyond traditional economic paradigms.

The definition presented in this paper deliberately emphasizes trust, utility, and societal recognition as the pillars of perceived intrinsic value in the cryptocurrency realm. Utility, the second facet of intrinsic value, highlights the practical applications and functionality of cryptocurrencies. Societal recognition forms the third dimension of intrinsic value, acknowledging the broader acceptance and adoption of cryptocurrencies in everyday life. As societies progressively move towards a digital future, the acknowledgment and utilization of cryptocurrencies in various sectors contribute to their intrinsic value. This recognition extends beyond the confines of technological enthusiasts and early adopters, indicating a broader societal acceptance that further solidifies the position of cryptocurrencies in the financial landscape.

By framing intrinsic value in this nuanced manner, this research recognizes the enduring nature of cryptocurrencies, independent of short-term market fluctuations or external regulatory pressures. The intentional emphasis on trust, utility, and societal recognition aims to capture the essence of intrinsic value that persists even in the face of the evolving dynamics of the cryptocurrency market. Understanding intrinsic value in this manner is pivotal for interpreting the disparities in how different generations perceive cryptocurrencies. Older generations, often characterized by limited exposure and a traditional understanding of wealth, may struggle to attribute intrinsic value to digital assets due to a lack of trust and familiarity. The skepticism identified in the study “Motivations, Barriers and Risk-Taking When Investing in Cryptocurrencies” aligns with this generational trend, highlighting the psychological and behavioral barriers faced by older individuals in embracing the intangible nature of cryptocurrencies.

Conversely, younger generations, raised in an era of rapid technological advancement and digital innovation, exhibit a more open attitude towards the intrinsic value of cryptocurrencies. Their familiarity with advanced technology, as demonstrated in the study “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency,” contributes to a trust in the underlying blockchain technology and an acceptance of digital currencies as legitimate mediums of exchange. This generational contrast underscores the subjective nature of intrinsic value, shaped by individual experiences and perspectives. For older generations, intrinsic value may be closely tied to tangible assets and established financial systems, while younger generations perceive the intrinsic value of cryptocurrencies through the lens of technological innovation and a digital-first mindset. The dynamics of generational perspectives play a pivotal role in shaping the ever-evolving landscape of cryptocurrency perceptions.

The lack of familiarity with blockchain technology, decentralized systems, and the intangible nature of cryptocurrencies contributes to a perceived lack of intrinsic value among older generations. Trust, a fundamental component of intrinsic value, is harder to establish when individuals are unfamiliar with the underlying technology. The study indicates that the psychological barrier of overcoming a traditional understanding of wealth and financial systems is a significant hurdle for older individuals when considering the intrinsic value of cryptocurrencies. Experiential learning, often slower for older generations in the rapidly changing technological landscape, is a critical factor influencing their perceptions. In stark contrast, younger generations, born into the digital age and raised in an environment of rapid technological advancement, exhibit a more open attitude towards the intrinsic value of cryptocurrencies.

The study “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency,” conducted by the Russian Academy of Sciences, Moscow, sheds light on how exposure and familiarity with digital transactions contribute to a heightened acceptance among the youth. For the younger demographic, the intangible nature of cryptocurrencies is not a source of skepticism but an accepted feature of modern financial innovation. The trust in digital currencies is deeply rooted in their comfort with advanced technology, blockchain security assurances, and a general openness to embracing innovative financial instruments. This generation’s intrinsic value perceptions are shaped by a worldview that views digital assets as legitimate mediums of exchange and stores of value. Generational perspectives on the intrinsic value of cryptocurrencies are dynamic and subject to change as societal attitudes evolve and technology becomes more ingrained in daily life. The contrasting attitudes between older and younger generations highlight the subjective nature of intrinsic value, influenced by psychological factors, experiential learning, and societal acceptance.

The acceptance and investment value of cryptocurrencies are not solely driven by economic factors but are significantly influenced by the intricate web of social and psychological dynamics. This section delves into how these factors contribute to shaping attitudes and behaviors towards cryptocurrency investments across different age groups. Social influence plays a pivotal role in motivating individuals to engage with cryptocurrencies. The study “Motivations, Barriers, and Risk-Taking When Investing in Cryptocurrencies” highlights the impact of social interactions on investment behavior, emphasizing the role of peer pressure, online conversations, and social media contacts. Potential investors often find motivation and trust in cryptocurrencies after hearing positive experiences and success stories from their social circles.

This social influence can act as a powerful motivator, driving individuals to enter the market and participate in cryptocurrency investments. The influence of social networks is particularly pronounced among younger generations, who are more inclined to trust and adopt technologies endorsed by their peers. The interconnected nature of social media platforms and online forums serves as hubs where investors share insights, opinions, and predictions. This collective sharing of information directly influences market perceptions and trends, contributing to the overall sentiment surrounding cryptocurrencies. The democratization of information through social channels has a profound impact on shaping the narrative around digital assets, making social influence a critical factor in determining which cryptocurrencies individuals choose to invest in.

Psychological factors, notably risk-taking behavior, constitute another critical aspect of cryptocurrency investments. The study “Investment Decision of Cryptocurrency in Millennials and Gen Z” explores the unique investment behaviors of younger generations, specifically millennials and Gen Z. These demographic groups exhibit distinct risk-taking tendencies, often influenced by psychological factors such as social pressure and the fear of missing out (FOMO). The effect of psychological factors is evident in the increased risk appetite observed among millennials and Gen Z individuals. Their willingness to take risks, coupled with the influence of social factors, leads to active participation in cryptocurrency markets. While economic factors undoubtedly play a role, it is essential to recognize that market trends themselves are often shaped by social sentiment. Social media platforms and online forums act as catalysts for spreading information and influencing market perceptions, further emphasizing the intertwined nature of economic and social factors in the cryptocurrency landscape.

The study “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency” explicitly explores the psychological underpinnings of attitudes toward cryptocurrencies. The research findings indicate that individuals’ perceptions of risk and reward are influenced by psychological factors, shaping their overall attitude and willingness to invest in digital assets. Individual attitudes, when aggregated, contribute to the collective sentiment in the cryptocurrency market. The collective sentiment, in turn, influences market behavior and trends, creating a feedback loop where psychological factors impact individual decisions, which then collectively shape the broader market landscape. Amidst the generational disparities, a unifying vision emerges from the collective understanding of cryptocurrencies as the currency of the future, as outlined in “Cryptocurrency as the currency of the future.” This perspective transcends age boundaries, recognizing the transformative potential of cryptocurrencies in reshaping global financial systems.

The convergence of psychological, social, and experiential factors, substantiated by empirical evidence, underscores the authenticity of the causal relationships. Moreover, the diverse methodologies and sample demographics within the sources contribute to a holistic understanding, mitigating the risk of oversimplification. The combination of quantitative and qualitative data provides a nuanced perspective on the impact of social and psychological factors on cryptocurrency attitudes and investments. In navigating the generational abyss that separates perceptions of cryptocurrency’s perceived value, acknowledging the multifaceted causal relationships is imperative. By recognizing the dominant influence of psychological factors, appreciating the impact of social dynamics, and leveraging experiential learning, society can bridge generational divides effectively. In embracing the transformative potential of cryptocurrencies, stakeholders across generations can foster a collaborative dialogue, enriching mutual understanding and propelling the digital financial revolution forward.

In the ever-evolving landscape of cryptocurrency, where perspectives on intrinsic value fluctuate, it is crucial to address and counter the most formidable rebuttals to the thesis that the perceived intrinsic value of cryptocurrency varies across generations. One potential counter argument suggests that economic factors, such as market trends and financial indicators, are the primary drivers of cryptocurrency investments. While it is undeniable that economic factors play a role, it is essential to recognize the intricate interplay between economic conditions and social sentiment.

The assertion that market trends are solely determined by economic indicators overlooks the significant influence of social media platforms and online forums. As highlighted in “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency,” these platforms serve as hubs where investors share insights, opinions, and predictions, directly influencing market perceptions and trends. Therefore, economic factors alone do not shape the narrative; rather, they are intertwined with the collective sentiment driven by psychological factors. To further substantiate the argument, the empirical analysis presented in “Does Crypto Currency Market Dance, Volatile & Addicted to The Youth- An Empirical Analysis Using Market Survey Approach” underscores the connection between cryptocurrency market dynamics and the youth demographic. The study delves into the volatile nature of the cryptocurrency market and its addiction to the youth, suggesting a strong correlation between social factors and market behavior.

A common counterargument stems from the skepticism of older generations, asserting that their limited exposure and understanding of digital assets lead them to perceive cryptocurrency as lacking intrinsic value. This skepticism aligns with the findings of “Motivations, Barriers and Risk-Taking When Investing in Cryptocurrencies,” emphasizing the psychological and behavioral barriers faced by older individuals. However, it is crucial to recognize that skepticism does not equate to a complete dismissal of intrinsic value. The research acknowledges the existence of psychological barriers but fails to delve into the transformative potential of experiential learning. As individuals gain more exposure and knowledge, irrespective of age, their perceptions of cryptocurrency’s intrinsic value can evolve. Thus, dismissing the older generation’s skepticism as a static mindset undermines the adaptability inherent in human cognition. The study on the motivations, barriers, and risk-taking behaviors of cryptocurrency investors sheds light on the challenges faced by older individuals in embracing digital assets. Nevertheless, it is important to note that experiential learning is a continuous process, and older generations are not immune to evolving perspectives with increased exposure to cryptocurrencies and their underlying technology. 

A potential counterargument may challenge the definition of intrinsic value presented in the thesis, emphasizing a limited scope that focuses solely on trust, utility, and societal recognition. Critics might argue that intrinsic value should also encompass economic aspects, such as market demand and government regulations. However, the definition presented in the thesis deliberately emphasizes the fundamental utility and stability of cryptocurrencies, independent of short-term market demand or government regulations. This nuanced perspective aims to highlight the enduring value of cryptocurrencies as mediums of exchange, irrespective of external factors. Acknowledging the limited scope is not a weakness but a deliberate framing to emphasize the enduring nature of intrinsic value beyond transient economic conditions. Another counterargument might posit that the thesis overemphasizes generational disparities, neglecting the role of broader socioeconomic factors in shaping perceptions of cryptocurrency. While it is true that broader socioeconomic factors contribute to the overall narrative, the thesis strategically focuses on generational differences as a lens through which to analyze evolving attitudes.

The emphasis on generational disparities is a methodological choice rather than a disregard for broader socioeconomic influences. The study on social and psychological predictors of youths’ attitudes to cryptocurrency explicitly explores the generational aspect, shedding light on how different age groups perceive and approach digital assets. The deliberate focus on generational differences allows for a nuanced examination of evolving attitudes, acknowledging that while socioeconomic factors play a role, generational dynamics contribute significantly to the shifting perceptions of cryptocurrency.

In navigating the complex terrain of generational divides that characterize perceptions of cryptocurrency’s intrinsic value, it is essential to recognize the multifaceted nature of the causal relationships explored in this research. As stakeholders across generations seek to understand and engage with digital assets, acknowledging the dominance of psychological factors, appreciating the impact of social dynamics, and leveraging experiential learning becomes imperative. The first step in navigating generational divides in cryptocurrency perceptions involves a deep recognition of the dominant influence of psychological factors. As highlighted in the studies examined, individuals’ attitudes and behaviors towards cryptocurrencies are shaped by psychological elements such as trust, risk-taking propensity, and perceptions of reward. Acknowledging these psychological underpinnings is crucial for facilitating open conversations that address the emotional and cognitive aspects of cryptocurrency engagement.

Educational initiatives targeted at different age groups should integrate insights from psychology to address concerns, build trust, and dispel misconceptions. For older generations, fostering a gradual understanding of blockchain technology and emphasizing its security features can mitigate skepticism. Simultaneously, for younger generations, educational efforts can focus on responsible risk-taking and the importance of a balanced investment approach. Social dynamics play a pivotal role in shaping cryptocurrency perceptions, particularly within the context of investment decisions. Recognizing the impact of social influence, peer pressure, and online communities is essential for creating effective communication strategies that resonate with different age groups. For instance, educational campaigns can leverage social media platforms to disseminate accurate information, address common concerns, and showcase success stories. Peer-to-peer learning and mentorship programs can bridge generational gaps by facilitating conversations between experienced investors and those entering the cryptocurrency space. By appreciating the role of social dynamics, stakeholders can create inclusive spaces for dialogue and knowledge-sharing. Experiential learning, characterized by continuous exposure to and interaction with cryptocurrencies, is a potent tool for bridging generational divides. While older generations may face initial skepticism, providing accessible avenues for hands-on experience can demystify digital assets and contribute to a more informed understanding.

Workshops, seminars, and interactive platforms can serve as spaces for experiential learning, fostering a deeper comprehension of blockchain technology, cryptocurrency transactions, and investment strategies. Collaborative efforts between educational institutions, financial institutions, and industry experts can create tailored programs that cater to the diverse learning needs of different generations. In embracing the transformative potential of cryptocurrencies, fostering a collaborative dialogue becomes paramount. This involves creating forums where individuals from different age groups can share their perspectives, ask questions, and learn from one another. To enhance inclusivity, these dialogues should focus on the intersectionality of experiences, acknowledging that individuals within the same generation may have diverse perspectives based on factors such as socioeconomic background, education, and cultural influences. By fostering an environment of mutual respect and active listening, stakeholders can break down barriers and build a collective understanding of the intrinsic value of cryptocurrencies.

Ultimately, the goal of navigating generational divides in cryptocurrency perceptions is to empower informed decision-making. By incorporating psychological insights, recognizing the impact of social dynamics, leveraging experiential learning, and fostering a collaborative dialogue, stakeholders can contribute to a more nuanced and inclusive understanding of the intrinsic value of digital assets. Financial institutions, policymakers, and educational institutions all play pivotal roles in facilitating this process. Creating educational resources that cater to different learning styles, designing age-appropriate communication strategies, and advocating for regulatory frameworks that balance innovation with investor protection are key components of empowering informed decision-making across generations.

References

• “Motivations, Barriers and Risk-Taking When Investing in Cryptocurrencies” – Prague University of Economics and Business – July 14, 2021
• “Social and Psychological Predictors of Youths’ Attitudes to Cryptocurrency” – Russian Academy of Sciences, Moscow – November 20, 2019
• “Cryptocurrency as the currency of the future” – A. Knežević, T. Babić and Z. Musa – November 6, 2020
• “Investment Decision of Cryptocurrency in Millennials and Gen Z” – Atlantis Press – December 30, 2022
• “Does Crypto Currency Market Dance, Volatile & Addicted to The Youth- An Empirical Analysis Using Market Survey Approach” – Moosa, D. K. J., & Dr Suraj, E. S. (2022)