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It reads like a concise summary of red flags around cryptocurrency, on many dimensions. It doesn't mention 'tendies' at all, call anyone names, it doesn't reek
by jodrellblank 6y ago
It reads like a concise summary of red flags around cryptocurrency, on many dimensions. It doesn't mention 'tendies' at all, call anyone names, it doesn't reek of someone bitter because they lost all their money or missed out on a get rich quick opportunity, or have that cynical nihilistic "I'm smarter than everyone" geek attitude. And it isn't framed at a rant against a /group/ as much as a warning about being a victim to the (most vocal) self-appointed leaders of the group.
Yes, they're not citations to academic studies, but you don't see an in-group/out-group dynamic of "people who believe in the glorious future of Canadian dollars" vs "people who don't", or the desperation for the world to realise the truth of Mexican Pesos that only the faithful currently know, or etc.
- cinntaile 6y agoWe're getting a bit side tracked but here goes... You can at least critique the ones where he describes what cryptocurrencies do and that cryptocurrencies would be some kind of cult. Paragraph 3 and the last one specifically. Those are opinions, but they are presented as facts. It's certainly true that some cryptocurrencies are marketed as investments but it doesn't describe the market as a whole, there are so many things happening in that space that I would describe it as a mischaracterization. The believer point you bring up is really no different from people believing in a certain stock, they're heavily invested and try to rationalize their choices. This behaviour looks like some form of cognitive dissonance. You see this quite often online in Facebook stock groups and similar groups, typical retail investor behaviour unfortunately.