You have to understand that tech people possess no qualifications to see the abstract value crypto brings. “Bitcoin is just public key cryptography and hashing,

You have to understand that tech people possess no qualifications to see the abstract value crypto brings. “Bitcoin is just public key cryptography and hashing, it’s not that clever!” Crypto is a technology, but the innovation innate in it is economic in nature, not technical. This misconception leads to a whole cohort of tech people who knew about Bitcoin, never bought, and now have to rationalize as those less technically literate than them are more and more starting to believe and starting to profit. They should not have this expectation to understand crypto, anymore than an economist should be expected to understand what makes online banking secure, but everyone (including themselves) puts that expectation on them, causing them to rationalize by claiming that crypto is all a scam and completely useless. The more they try and understand it technically, the less they see what’s important.