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A Few Reasons Why People Don't Understand Bitcoin
338 sats \ 5 comments \ @kepford 28 Jun 2023 bitcoin
Lest this come off as arrogant. I learned about bitcoin in 2011 and didn't get involved. In 2017 I started thinking about it and was into it but it wasn't until 2020 that it really stuck. I thought I would list what I think are the top reasons people in the US at least don't see it for what it is. Would love to hear your thoughts on this question.
Why people do not understand bitcoin, the need for it, its utility, and the problems it solves.
  • They live in the west
  • They don't understand how evil the state is
  • They don't understand how money works
  • They don't understand how messed up fiat currency is
  • They can't think for themselves (second-handers)
  • They don't understand statistics
  • They don't understand encryption
  • They don't understand economics
  • They have high time preference
  • They don't understand energy
  • They think they understand any of these but actually don't
  • They have profited from the status quo
  • They have overestimated their intelligence
If you have questions about any of these pipe in, please.
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42 sats \ 0 replies \ @kepford OP 28 Jun 2023
I'm reminded of the stories of how those that trusted most in the North Korean government during the famine in the 90s were the first to die because they believed leadership. Those that trust most in the western democratic world order will be the last to adopt bitcoin.
Those who are well have no need of a physician...
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21 sats \ 0 replies \ @teodor 29 Jun 2023
Long time ago I made a reseach and found out at least 5 types of people:
  1. Stupid, but they know it.
  2. Stupid, but they think they're clever.
  3. Stupid, but they don't know it.
  4. Smart, but arrogant, so not so smart as they think...
  5. Smart, and they know exactly how they are.
Also, I found this on secretgeek.net: There's 2 reasons that a smart person should realise they are still, essentially, stupid. The obvious thing is that no matter how much you know, your knowledge is an insignificant compared with the sum total of what can be known. But here's the real kicker: every idiot in the world knows at least 1 or 2 things you don't know.
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1 sat \ 0 replies \ @sudonaka 28 Jun 2023
It’s easier to fool a man than convince him he’s been fooled.
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0 sats \ 0 replies \ @duvel 18 Nov 2023
This is a really interesting question. Very much like the list. It reminds me of a venn diagram of the Bitcoin blockchain (don't understand why they call it the blockchain spectrum): https://unchained.com/blog/wp-content/uploads/2017/12/1_xILoZ-QpFWYLjAFEfjWWaw-1.png
If you're living in the west, it could be that your financial privilege (@gladstein) is holding you back from understanding Bitcoin.
Not understanding energy is currently very relevant, because of all the Save The Planet, But Not The Humans Bullshit.
Not understanding technology is a big one.
Not take the time to understand Bitcoin is also a very big one. Over the years I've noticed people's knowledge about Bitcoin is what mainstream media writes about Bitcoin. But to be fair, it's indeed a very difficult topic to grasp that needs the right educational resources.
Another reason why people won't understand Bitcoin is I think that a lot of people I've talked to are always looking for the next best crypto which will be 'better' than Bitcoin. That means they'll never focus on Bitcoin and also make the mistake to see Bitcoin as crypto, which is another reason to not understand Bitcoin.
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0 sats \ 0 replies \ @kepford OP 28 Jun 2023
Many of these reasons are out of the control of the individual so keep that in mind when people don't get it at first.
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