1337 sats \ 1 replies \ @ChrisLAS 10 Jun

You see this in the Linux crowd a lot too.

Radical thinkers who wanted to change the world and give away free software can't seem to wrap their heads around the public good that is Bitcoin.

I think a big part of it is tech people who have a lot of confidence in their opinion and think they are qualified to make judgments about things that are tech adjacent.

They feel like they understand the tech behind these projects, and assume they understand more than they really do... And that says nothing about the economics. :)

As someone who works in software for finance: Yes. Yes. Yes.

I NEVER hear the finance guys tell me how tp program a for-loop or configs for a server. But I quite frequently hear the IT guys tell me something about economics which is simply wrong or oversimplifications - it helps to show them investopedia or wikipedia links. But it's kind of infuriating that they are so overconfident.

this piece helped me understand many of my colleagues https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin

Was just about to share this

218 sats \ 3 replies \ @jp 11 Jun

HNers despise anything they don't understand because they believe they're the smartest people on earth. Anything they cannot comprehend must be nonsense.

A common theme on HN is "smart" software engineers who believe they get "fucked" during their startup's M&A exit. Most generally don't know shit about finance and, in turn, hate anything financially related.

edit: sorry, i feel mad today

HNers despise anything they don't understand because they believe they're the smartest people on earth. Anything they cannot comprehend must be nonsense.

Very true. Not very open minded. I thinks it stems from the culture that everything has to be a culturewar argument. You can never have a normal conversation about something because HN people always default to thinking you're trying to start an argument.

4 sats \ 0 replies \ @jp 11 Jun

To counter my original comment (and to be fair), this hardened sentiment exists in most "maximalist" circles

Both belief systems are fairly cemented/polarized - HN vs. SN are on opposite sides of the spectrum but equally susceptible to group-think.

It's called the Dunning Kruger effect :-)

Funny story is I heard about Bitcoin from Hacker news eons ago. I don't recall a strong dislike for it back then, but really no sentiment at all would be more accurate. Current sentiment is just what you'll see generally found everywhere outside of the echo chamber. It isn't correct, but give it a few more years. They don't currently "get it" just like I didn't the so so so many times I could have bought Bitcoin at lower prices or held what I had. Story old as time. IMO that just means everything is playing out as expected.

I think a lot of that community haven't really seen an issue with payments, they've never really had to deal with the pain of inflation, the system worked fine for most of them so there is less of an incentive to "get it" and do the work required to get there

HNews is the web2 Y combinator crowd.

In it's early days, Y combinator was like an elite club that put developers in front of people with lots of money to invest into their ideas with the goal of making unicorn companies.

It was focused on raising money to create a company so founders could exit with a pile of cash. If the idea was commercially viable, the VCs would invest. It attracted entrepreneurs that wanted to be billionaires and less about changing or making the world a better place.

Its an immune response. Bitcoin is a new idea, a foreign object introduced into their minds, and their conscience immediately rejects it. Also i have no idea what im talking about.