Hot take: I don't like the term HFSP \ stacker news ~bitcoin

1176 sats \ 22 comments \ @AmadeusK525_old 7 Feb 2023 bitcoin

Out of all the terms used by the Bitcoin community, this is the one that grinds my gears the most (most other I think are pretty good). The Bitcoin ecosystem is a technological marvel, seeing what people can build using both the base and the LN layer is amazing, seeing a decentralized monetary system actually work as well as it does is magical, and a lot of the catch phrases used by Bitcoiners are meant to educate people - Not Your Keys, Not Your Coins; Don't Trust, Verify; Bitcoin, not Blockchain...

Why do I say all of this? Well, the term in question - Have Fun Staying Poor - does none of the things mentioned above. It's very derivative of a fiat mindset. Sure, it's cool that we get rewarded for being pioneers in the economic revolution that is taking place in the form of Bitcoin becoming more valuable as time goes on, but that's not the point of this and it never was. Bitcoin isn't an economic investment, it's a philosophy/technology investment, terms like HFSP don't give that idea and it's more akin to the shitcoin market than the Bitcoin market. I wish we could get rid of it entirely.

There's a point that can be made about HFSP being about fiat becoming less valuable, and not Bitcoin becoming more valuable (for being freedom money), but that's clearly not the intent behind people who use it, the intent is about number go up, unfortunately.

Anyways, this was just a thought I had the other day and I thought it'd be a fun exercise to start a discussion about it :)

view all related items

1264 sats \ 0 replies \ @cointastical 7 Feb 2023

HFSP

221 sats \ 1 reply \ @asi0 7 Feb 2023

This acronym can have more than one meaning, or even an opposite meaning.

For example, Have Fun Staying Poor can be applied to oneself in a kind of humility mantra. In other words, once you've adopted the bitcoin standard, you have an economic incentive to learn to have fun with activities that don't cost much, because in a few halvings, you'll be biting your fingers at having spent so much on expensive and futile things.

I know that HFSP is never used in this way, but I like to see it as a reminder to reduce my time preference.

10 sats \ 0 replies \ @IHL 7 Feb 2023

Thanks. I really like this take and hadn't thought about it that way. I'm definitely going to start thinking this to myself, lol.

18 sats \ 3 replies \ @IHL 7 Feb 2023

I'm okay with it when it is used on people being insincere in their criticism. In that case making an argument is a waste of time. As I understand, HFSP is a quick riposte to show you are done with their disingenuous nonsense.

I'm guessing much of the time it isn't used that way and is used when communicating with people who have genuine concerns. In that case, I also think it is likely counterproductive to increasing adoption.

110 sats \ 1 reply \ @jgbtc 7 Feb 2023

I have never seen it used when someone is asking honest questions. I've only seen it used as you described in your first paragraph.

11 sats \ 0 replies \ @IHL 7 Feb 2023

I would reword what I wrote to say if/when in the second para. I also think it is almost never used against people with genuine questions. Certainly not by people who deeply care about Bitcoin.

Thanks for the pushback!

0 sats \ 0 replies \ @snakedye 7 Feb 2023

I'm okay with it when it is used on people being insincere in their criticism. In that case making an argument is a waste of time. As I understand, HFSP is a quick riposte to show you are done with their disingenuous nonsense.

Only people within the group understand this ie the people you would never say this too.

This means that people who read that will not get whatever message you think you are conveying.

26 sats \ 1 reply \ @muteness11 7 Feb 2023

I understand why people say HFSP as it can to create provocative curiosity about Bitcoin hoping it will lead to its rabbit hole

At the same time: Many of the Bitcoiners were Shitcoiners 1st dismissing Bitcoin as old tech, slow etc... Many of the Bitcoiners were nocoiners doubting Bitcoin as a ponzi, fraud, etc... dismissing it several times

When you attack someone by saying HFST, it can harden their position on being Anti-Bitcoin (people are tribal and if you attack their ego you can have an extreme negative reaction)

I prefer to be an educator rather than a troll

0 sats \ 0 replies \ @vulcano 7 Feb 2023

I agree. Insulting someone or being sarcastic in an argument is never going to convince anyone of anything. On the contrary, from that moment on, the person who has received an "HFSP" in response will radicalise their position because they will "personify" bitcoin in the person who insulted them.

20 sats \ 0 replies \ @TheL0wner 7 Feb 2023

agreed, but I consider most traders to be part of the problem bitcoin is meant to solve, they almost always think in fiat.

10 sats \ 1 reply \ @nullama 8 Feb 2023

HODL is much better.

In December this year it will be its 10th anniversary.

0 sats \ 0 replies \ @AmadeusK525_old OP 8 Feb 2023

Not Your Key, Not Your Coins is probably my favorite, but HODL and Stay Humble, Stack Sats are great as well

10 sats \ 0 replies \ @thebtctotoro 7 Feb 2023

I dont like the phrase either... and I say take the high(er) road when you're right. Lots of reasons someone is not where you are in your journey.

10 sats \ 0 replies \ @siggy47 7 Feb 2023

100%

0 sats \ 0 replies \ @TNStacker 7 Feb 2023

Seems petty

0 sats \ 0 replies \ @falsefaucet 7 Feb 2023

Imo it is an extenuation of the 'if you don't believe me, I'm sorry I don't have time to convince you'

Rarely does someone with good faith questions, get that phrase muttered at them. It is for the ones fudding Bitcoin and spewing the same nonsense over and over.

Personally. It's one of my favs. Ironically the funniest part is that most people who get hit by the hfsp train think we are all bots. Cause 'how could a decentralized group be that organized' it must be bots.

Naw. Just plebs all on the same page.

0 sats \ 0 replies \ @grayruby 7 Feb 2023

HFSP used on salty nocoiners who have no valid criticism to contribute and only spew vitriol towards bitcoin is fine. If you use it on precoiners who don't understand bitcoin or why they need it then you are missing an opportunity. Personally I have never used it other than in a sarcastic manner but I am ok with people using it with the right intent.

0 sats \ 0 replies \ @TheBTCManual 7 Feb 2023

I love the term, I think its about who you use it on, overconfident shitcoiners, grifters, traders and anyone who is actively trying to attack bitcoin can have fun staying poor

0 sats \ 1 reply \ @rax0m 7 Feb 2023

Most people are in bitcoin to get rich

2 sats \ 0 replies \ @AmadeusK525_old OP 7 Feb 2023

And that's a shame

0 sats \ 0 replies \ @DarthCoin 7 Feb 2023

Did you know that Satoshit invented this term?

Remember "If you don't get it, I don't have time to convince you". That actually is the essence of HFSP, not literally "I want you to stay poor, in terms of money". You will remain "poor" in knowledge.

And also there are many different moments when should be used this term.

This is not an insult. Is a warning. Only a dumb shitcoiner will think that this HFSP is an insult.

0 sats \ 0 replies \ @jtwoodhouse 7 Feb 2023

deleted by author