50 sats \ 3 replies \ @badabing 11 Jan \ parent \ on: Taking the ETF temperature on Hacker News bitcoin
Subconsiously they understand it and feel their purchasing power slipping away? Maybe it's a form of self hate lol.
I don't know. It's certainly true that people can be stubborn and refuse to update their worldview in the face of overwhelming evidence, but I suspect it runs much deeper than that.
Some people are simply wary of disruptions to the status quo. Others find comfort in living under the thumb of the state. And then you have a small cohort of bitter goblins who thrive on resentment, as we see in the dark caves of r/buttcoin. Yet still, the hostility continues to baffle me.
Who knows? We're witnessing a fascinating psychological experiment unfold here. One of my favorite things about Bitcoin is that it has a tendency to make people I agree with rich, and people who I disagree with poor. Let the coping and seething continue, because it's only going to get more hilarious as time goes on.
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My take is that a decent amount of the variance is based on the dissonance from a web of connected beliefs. If you think of your belief in btc as a tower, where the tallest block (btc) is set on top of many other blocks, what are those blocks? Many of them take a long time to acquire. Sometimes one block has a weird shape and prevents other important blocks from stacking on top of it. (@k00b and I had a far-ranging discussion on this someplace, but I can't dig it up atm sadly.)
Anyway, this metaphor isn't exactly right, but if there was ever an illustration of how much of the iceberg lies below the surface of the water, it's with btc. Which suggests that it's going to be a long time before I stop saying how early we are. Maybe I'll be dead first.
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I think it's because they are brainwashed by the fud and the idiot box (aka tv)
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