I've read some of the cryptocurrency subreddits recently and it has been absolutely fascinating. The degree of group cognitive dissonance is something else.
To add to this, crypto communities _appear_ (I’d be pleased to be wrong here if anyone has examples) to be filled with people who are absolutely opposed to any kind of economic governance, if it’s not “let the magic hand of the market decide” they’re seemingly not interested.
Seems like there is no worse platform to discuss the merits and weaknesses of cryptocurrencies somewhat objectively than those specific subreddits. They are so full of greed and ideology, it's absurd. It's quite hard to look through the hype, so the academics are my best bet when trying to understand things.
This is one of the reasons I generally stopped paying attention to the cryptocurrency world.
The number of voices with an accurate understanding is far outweighed by the number of people with some kind of personal and ideological axe to grind about (insert some combination of one or more of: government/regulation/inflation/economics/etc) and from my perspective the whole scene got increasingly wild.
The financial world is absolutely ripe for an overthrow... People don't seem to want to think or talk about that though.. Means embracing a certain cryptocurrency that everyone wants to hate. Cognitive dissonance casts a strange aura over the future that many don't enjoy confronting.
The ones who have overcome it are always just sitting and waiting for everyone else to catch on.. (think social media). Takes a while of digesting and overcoming misunderstandings.
I think it's pretty obvious that people here are very literate about the cryptocurrency space and just find it amusing, apparently to the chagrin of true believers.
As someone who's been part of the crypto community since 2011, the level of discourse in most of cryptoland is rock bottom. I attribute it to the decentralized nature of the technology, which encourages lots of people to attempt manipulate prices through trolling.
I used to wonder this a lot as well. It struck me as odd that a crowd of people with whom I'd often share a lot of the same values and beliefs, would be pretty much point blank against a whole industry that I've been so heavily involved with for many years. On a few occasions, it even shook my confidence and made me wonder if I'm doing the right thing. If so many smart people are against crypto, am I the crazy one?
I have since learned to live with it. In the same way that I live with the fact that crypto is full of grifters, I've learned to live with the fact that majority of the world has a very narrow view of what the space is about. The only thing that I find unfortunate now-a-days is how quick people are to turn towards radical thoughts and approaches, without even considering that they might not know what they are talking about.
It is really interesting to see the crypto topic become so polarized. Either you think it is this amazing revolution that will be the future or you are a "No-Coiner" and you are against crypto.
During the DOT COM bubble things were not this divided. There were certainly plenty of people pointing out that giving a company 100M just because they own a domain name may not end well, but it wasn't this heated.
I assume this is because of social media. A lot more people have voices to point out flaws in the other side's arguments and then everyone gets echo chambered into one of two sides with the arguments that best support their side.
You are twisting my words. I'm saying there's a significant amount of intelligent people who can think for themselves in other situations that refuse to seriously look at cryptocurrency and have a knee-jerk reaction instead.
I used to see it with cryptocurrency. I suffered a lot of downvotes for pointing out the (finally) well-known flaws with cryptocurrency, and how most of them are (finally other people realize) scams.
I just feel most people who are obsessed with crypto that I’ve come across in my personal life are some of the least financially responsible/educated people I’ve ever met
that and r/bitcoin comment sections are very delusional cult to me
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