441 sats \ 19 replies \ @orthwyrm 4 Mar \ on: Stacker Saloon
Day 324 of snailposting everyday 'til BTC hits $100k.
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Not really. As you say, most are just looking for a trade back into fiat and don't really "get it".
I'm not quite sure what the hurdle is for most people. I don't think it's a question of technical proficiency or intelligence.
One thing I've noticed with Bitcoin in particular is that it seems to attract an unusually high number of engineers (Saylor, Lyn Alden, Saifedean to name a few). You probably do need some innate systems-thinking skills to appreciate the elegance of Bitcoin's design and identify the flaws of fiat, altcoins, etc.
Politics does play a part, as Bitcoin is innately an anti-state tool. But I think it's more that Bitcoin converts many people towards libertarianism / anarchism. Many anarchists have been at the game for decades and still don't get Bitcoin (see all the silly goldbugs).
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"systems-thinking"
True. Understanding fiat banking at a system level one can fairly conclude it is a ticking time bomb.
Agree, most people get repelled when they realize bitcoin is anti-state. Their assumption being Anti-state => Anarchy => Violence and disorder.
P.S. Are you an engineer as well? I am.
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Yeah, sorta! My roots are in physics really but I've transitioned to engineering and software over the years.
I have noticed less physicists than engineers in the Bitcoin ecosystem (although I have noticed some on SN!). Both disciplines promote finding simple, elegant solutions to complicated problems and that's basically what Bitcoin is. It really "clicked" for me when I thought of Bitcoin as an economic constant, and how ridiculous any economic system must be without constants / ground truths.
An appreciation of thinking in terms of exponentials / log scales certainly helps too.
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"economic constant" Truth!!
First time I heard of bitcoin was coincidentally on the same week as I was researching on password hashing practices for user login info. back in 2010/2011 on a chess website troll room. I got into bitcoin.org and figured it was internet money built similar to torrent and was amused. But it never crossed my mind that it was relevant to me as i was not an online shopper and back then i wasn't even using online banking. Had no clue about central banking scam nor what money actually meant.
Poor and naive normie mango.
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There is a huge premium to buy sats here. >5% in kyc exchanges. 10-15% P2P it is mostly because of capital control laws by the govt. official usd-inr exchange rate is 83inr/usd. however usdt trades at 92inr/usdt.
People in general(no-coiners) view it like any other place. crazy made up internet money used by black marketers and hackers. Plenty of shitcoiners too.
Most have btc/shitcoins bought in exchange and keep it there in the hope of an exit.
However I've observed a drastic increase in bitcoiners over the years who 'get it'.
Most people here are statists. But thanks to the internet, there does exist a ground up antistate culture only likely to grow over time.
information asymmetry is so absurd in the age of internet. People whom I considered smart, incapable to grock bitcoin.
Just can't imagine myself on the other side without a single sat while bitcoiners been airhorning bitcoin signal all the while.
P.S. waiting for new bitstein twitter memes to hit.
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'-'_@__
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@carlosfandango will be mightily relieved when he comes here n sees your post. It’s like his calming elixir haha
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Lol. I have been bothering @orthwyrm and the snail for a long time now….
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🫡
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👍
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Great stuff. You were right about ATH…
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