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100 sats \ 0 replies \ @Tehila 22 Jan 2024 \ on: High level of illiteracy regarding Bitcoin within the Bitcoin community bitcoin
Honestly I think there are several aspects to the ignorance:
- General ignorance. The majority of people who own bitcoin do not fully understand it. And there is quite a bit to understand, and not everyone is going to get it. Most people are not interested in technical aspects-- only NGU.
- Selection and other biases. You see ignorant posts because they stand out. And only a relatively small number of btc holders are actually making such posts. It's like thinking there is an epidemic of racism because there are a handful of people making racist comments.
- New people. This should be a good thing, right?
- Pattern searching. Both the true believers as well as the Lambo-rati reach for prophecies in the data ("technical analysis" anyone).
Your example does seem pretty basic and ignorant to me, but I've been around the block. I come across plenty of content here that stumps me, just because I'm not that technical. And even some of the basic stuff that I "know", I can't explain to people. For example, how Lightning scales, or why and how entropy is lost when BIP39 is split or reordered. (That's what Andreas' videos are for!)