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Why do cryptocurrencies invoke strong emotional response? Why would one care if someone calls bitcoin ponzi? Or why would someone put so much effort into provin

by tappio 5y ago

Why do cryptocurrencies invoke strong emotional response? Why would one care if someone calls bitcoin ponzi? Or why would someone put so much effort into proving that it is one? Does not seem too rational. Maybe someone can explain? My observations may be biased, but the comment section here and on the earlier time the same post was here support my observation? Edit: probably just a biased opinion because because the minority who care are most vocal. It would seem that general public does not really care.

sparkie 5y ago
It evokes an emotional response in bitcoiners because it is literally the only viable solution to the massive problem of theft via inflation of the money supply. People care about this great injustice which is one of the main sources of inequality. It evokes an emotional response in communists and socialists, because it forever puts a thorn in their ability to just steal people's property and claim it as belonging to everyone.
- lowmagnet 5y ago
  It evokes an emotional response in bit-coiners because they have a perceived stake in it.
fosk 5y ago
I believe it is also due to the fact that people are naturally jealous of other people's fortunes, since wealth is generally being perceived as zero-sum, whether it's true or not. So here you have a bunch of people that seem to be getting rich "at the expense" of others, and maybe don't fully understand why, therefore they put up a fight. Very natural tribal behavior identifiable in a variety of different ways in the history of human kind. Also people think of themselves as naturally intelligent (ego), so if something is creating wealth but they don't fully understand why, the instinctive reaction is to dismiss it because the other option is to essentially admit lack of knowledge which hurts their ego, therefore it is again a natural "self preservation" reaction. Also this more naturally creates an emotional response, since ego is a highly emotional subject to begin with. To be against Bitcoin is also a generally safer bet: dismissive opinions are almost always small easy wins in the unpredictability of the future of Bitcoin. But Bitcoin maximalist only have to be right once eventually. We saw this with every major invention, electricity (will kill people!), internet (just a fad!), etc. Now with that said I am not expressing an opinion on the eventual success of Bitcoin, it could very well fail.

by tappio 5y ago

sparkie 5y ago

It evokes an emotional response in bitcoiners because it is literally the only viable solution to the massive problem of theft via inflation of the money supply. People care about this great injustice which is one of the main sources of inequality. It evokes an emotional response in communists and socialists, because it forever puts a thorn in their ability to just steal people's property and claim it as belonging to everyone.

lowmagnet 5y ago
It evokes an emotional response in bit-coiners because they have a perceived stake in it.

fosk 5y ago

I believe it is also due to the fact that people are naturally jealous of other people's fortunes, since wealth is generally being perceived as zero-sum, whether it's true or not. So here you have a bunch of people that seem to be getting rich "at the expense" of others, and maybe don't fully understand why, therefore they put up a fight. Very natural tribal behavior identifiable in a variety of different ways in the history of human kind. Also people think of themselves as naturally intelligent (ego), so if something is creating wealth but they don't fully understand why, the instinctive reaction is to dismiss it because the other option is to essentially admit lack of knowledge which hurts their ego, therefore it is again a natural "self preservation" reaction. Also this more naturally creates an emotional response, since ego is a highly emotional subject to begin with. To be against Bitcoin is also a generally safer bet: dismissive opinions are almost always small easy wins in the unpredictability of the future of Bitcoin. But Bitcoin maximalist only have to be right once eventually. We saw this with every major invention, electricity (will kill people!), internet (just a fad!), etc. Now with that said I am not expressing an opinion on the eventual success of Bitcoin, it could very well fail.