An Inch Deep and a Mile Wide \ stacker news ~mostly

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10.3k sats \ 33 comments \ @kepford 8 Apr mostly_harmless

Last week some friends of mine were in town for work and called to see if I wanted to grab lunch. I've known these guys for a while. Back in 2021 both bought some bitcoin. One held and one sold. One I paid for services with bitcoin. The other lectured me on why he sold his bitcoin and why it was foolish to hold a 'stock' that was going down in value. Of course at the time, during the bear market I explained to him why I was stacking stats. Back to present time. At lunch one of my friends asked, so when is the halving supposed to be again? The other said, what? What is that? Of course I gave the TLDR answer and he continued with his lunch uninterested.

I'm sure many of you have similar stories. People who read headlines, watch a Tiktok on a topic and then act like they are "informed". Most people we encounter aren't just like this on bitcoin. They are like this on a wide array of topics. They are an inch deep and a mile wide. They know very little about a lot of things. They can hold a short conversation on many topics but have few topics they could debate. Why is this? I don't really know if it is a cultural thing here in the US. Not sure if it is global or even just a human trait.

This shallowness also applies to media. I include social media as well as corporate media. When I started my career in tech was when I first started to see it. There would be stories on "reputable" news outlets about some tech thing and they would get it dramatically wrong. Then I started paying more attention. I dug into specific topics and I discovered that "influencers" are at best limited in their knowledge and at worst paid shills prostituting themselves for money and access. At best they make honest mistakes. At worst they are deliberately manipulating the masses.

If you don't watch the news you're uninformed, if you watch the news you're misinformed

~ Denzel Washington

Many people think well, I don't fall for that stuff. I don't follow the "main stream media". I follow the alternative media. The problem with this is these new influencers are just that. Influecers. Everyone has an agenda. Everyone has something to sell. Unless you become skeptical of "experts" and require some sort of trust to develop based on experience you aren't much better off from those drones that watch the news. You just changed channels. It reminds me of the boomer-cons that think they are getting the real news from Fox because they don't have the "liberal bias". As if CNN and the other sources are just biased. Its not bias. Its an agenda paid for by their sponsors and those that hold the access to information. The state machine. I recall during the pandemic people I know started to become suspicious of the media and state shills. I thought, this is great! Maybe they are opening their eyes a bit. But no, they weren't. They were following influencers who were saying things they had zero evidence to substantiate. They people I knew were just trading one set of shills for another set.

So what is one to do? Stay skeptical. Don't go from one side to the other. They are both wrong and right on different things. Think.

Thinking is the hardest work there is, which is probably the reason so few engage in it." - Henry Ford

There is not easy solution. The fact is, I can't tell you go listen/watch this person or source. They get it right. Over the years I have observed that no one gets it right all the time. Truth is, most of the time what is being discussed doesn't matter that much so you can safely tune out. Don't worry. Your friends will let you know when something "big" happens. Over time you will see that rarely do these thigs even affect you though.

If you aren't wasting time following influencers, now you have time to dive deeper into a subject area. Bitcoin, economics, growing your own food. You know, things that matter.

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285 sats \ 5 replies \ @Undisciplined 8 Apr

We have a family member coming to visit, who often refers to his knowledge as "a mile wide and an inch deep". It's half self-deprecating half pride at being broadly "informed". I dread getting sucked into conversations with him, because it's either listening to him drone on about something that neither of us is actually interested in or it's something where he's completely misinformed and I have to decide whether it's worth even getting into with him.

In grad school, I would occasionally playfully chastise my peers about this, when they would just repeat talking points. I'd say something like "Yeah, I saw that John Oliver segment too, but if we're going to put ourselves out as experts we should probably dig a little deeper than that."

It's definitely not easy to fix. I try to follow people with a range of political/cultural views who have a track record of getting basic facts right and seeing through propaganda in real time. It's not perfect and most people don't want to bother keeping track of that stuff.

50 sats \ 4 replies \ @kepford OP 8 Apr

I bet we all have people like this in our lives. I sometimes wonder if this is a recent and western thing. Maybe even a US thing. I think there may just be a culture that encourages an inflated view of the value of each person's opinions.

Think about how the Internet has allowed everyone to share what they "think" about pretty much anything from any location. Even SN is a part of this. I think its created an over-inflated view of the value of opinions. And it seems like it is much more opinion than fact/knowledge being spread.

What also often strikes me is how people will start talking to me about a topic like their thoughts are unique when it is clear they are just repeating some slogan being promoted this week by the elite class. Kinda blows my mind that they can seriously present in this way. Over the years I've gotten much better at smiling and nodding and not engaging with a second-hander. It is rarely worth it.

208 sats \ 3 replies \ @Undisciplined 8 Apr

What also often strikes me is how people will start talking to me about a topic like their thoughts are unique when it is clear they are just repeating some slogan being promoted this week by the elite class.

Exactly this.

I sometimes wonder if this is a recent and western thing.

I meant to comment on this initially. I think this is a holdover from the Enlightenment era and the idea of the generally educated citizen.

Somewhere I read that up until the late 1700's it was basically possible for a very intelligent scholar to be well-versed on nearly the whole scope of human scholarship. This became the liberal ideal (and it is very cool). Since then, though, the sheer volume of knowledge has expanded to where basically none of us know anything about anything. Even on the small handful of topics that we specialize in, what we don't know greatly outweighs what we do know.

93 sats \ 0 replies \ @siggy47 8 Apr

This is really irritating. I get all the crap spouted by MSNBC every time I talk to a few of my friends.

51 sats \ 1 reply \ @kepford OP 8 Apr freebie

That's very interesting. Here's something else to think about. I forget the exact dates but I would argue that it is possible for one to be a very intelligent scholar today. I don't think the amount of information that is USEFUL has increased to a point where many people are incapable of human scholarship.

Consider the change in education away from a classical education model to the modern industrial Prussian education model which does not intend to create scholars. The intention is to produce good compliant citizens. In other words, the masses are being dumbed down into submission. That's my thought.

This is why I believe government schooling is one of the most evil systems in US society. Like the most evil systems it pretends to be good.

33 sats \ 0 replies \ @Undisciplined 8 Apr

I don't think the amount of information that is USEFUL has increased to a point where many people are incapable of human scholarship.

That's an interesting thought. The genesis of my nym is that people are blinded by whichever discipline they're subscribed to and they don't appreciate the insights from beyond it.

There's undoubtedly some version of the 80-20 principle (maybe the second order 64-4), where you can have a very broad general knowledge if you can identify the most valuable insights and not worry about the 96% of less valuable details and esoterica.

160 sats \ 5 replies \ @siggy47 8 Apr

I'm sure there is plenty of intentional deception, but don't underestimate laziness and carelessness either. In my prior career I had a few cases that got attention in the mainstream press. I would read the articles and be amazed at how many errors I would see in a simple story. Before that, I kind of assumed that the "reputable" press at least had basic facts straight.

287 sats \ 2 replies \ @freetx 8 Apr

The physicist Muarry Gell-Mann noticed this and remarked:

I open the newspaper and notice an article on physics, a subject I know well. The text of the article is unbelievable, often times its clear that the journalist no understanding of either the facts or the issues. Possibly even missing the entire point of the "experiment" he is reporting on. Often, the article is so wrong it actually presents the story backward -- reversing cause and effect. A "wet streets cause rain" situation. Feeling exasperated and frustrated I will angrily flip to a new page and read a seemingly well-researched and enlightening article on the Palestinian / Israel conflict.

His point was, when you know a subject deeply the reporting of it is crazily bad....when you don't know alot about the subject its seems reasonable and enlightening. This was later termed as the Gell-Mann Amnesia Effect

93 sats \ 0 replies \ @siggy47 8 Apr

Yes! I had no idea there was a term for it. In my case the article would have the charges wrong, the evidence wrong, and often even the wrong court.

43 sats \ 0 replies \ @Undisciplined 8 Apr

I always forget the name of this effect (Dunning-Krugger always pops into my head, even though I know it's wrong). Thanks for saving me the trouble of looking it up.

96 sats \ 0 replies \ @kepford OP 8 Apr

Indeed.

Never attribute to malice that which is adequately explained by stupidity.

75 sats \ 0 replies \ @kepford OP 8 Apr

Thanks for pointing this out. It is easy to discover the incentives in media/state and think everything is planned and flows down from some global elite WEF leader. While there is certainly evidence for this in many cases I agree with you. Most of the time the issue is laziness, stupidity, and personal interest. I really think we can waste a lot of energy trying to figure out all the connections who are trying to control the masses... Then if you step back you realize that you may just be playing yourself. How do you live in a way that makes them less powerful? How can you live the life you want to live? Forget these evil men and live your life on your terms. Try to remind myself of this regularly.

110 sats \ 1 reply \ @atl 8 Apr

I love the title of this post. An inch deep and a mile wide. Any time I see a post that explains a thought in my head better than I could’ve ever explained it, I tell my wife and we sit there and ponder. I love SN because this is the only space where I can actually expand my mind. Ive had this idea in my head for a long time, you’ve just formulated it into words for me. Thank you.

0 sats \ 0 replies \ @kepford OP 8 Apr

So kind of you to say. Thank you. Basically you just described how I use SN. Most of what I write is just thoughts I'm already thinking. Writing helps me think more clearly and also helps me get the stuff OUT OF MY HEAD. I can stay in my head to much.

The other thing is that I learn from many of you stackers. Especially in responses to my posts. Thanks!

66 sats \ 1 reply \ @StillStackinAfterAllTheseYears 8 Apr

Thank you -- this cannot be said enough. The number of people I've known -- of all political stripes -- who have a valid skepticism of some or all mainstream sources and then blindly trust some of the most ridiculous BS is amazing.

A big part of it for some folks seems to be confirmation bias. But it's also just credulity.

Over the years I have observed that no one gets it right all the time.

I think this is key. A lot of folks will sometimes be right, but even people who are smart and diligent will mess up, and that's before we get into the shills.

I'm not a big Reagan fan, but trust, but verify is a great attitude to have.

42 sats \ 0 replies \ @kepford OP 8 Apr

Yeah, its a good attitude with most people. I do prefer the bitcoin, don't trust. Verify. Thing is, that is pretty much impossible with humans. Trust is not true|false. Its more like a scale. My lady and I were talking about this recently and trust is like having a jar of marbles. When you get to know someone as they speak truth you add a marble. Over time the jar fills. The more full the more trust. But one lie can empty the jar. It is much easier to lose trust than gain it.

What blows my mind about Americans is how they tend to trust people they don't know in some cases more than those they do. They trust "experts" and politicians. They trust celebrities. If I have never met someone, talked to them, had a meal with them I have very little trust in them. Thankfully the way I live my life I don't need to trust many people.

66 sats \ 1 reply \ @0xbitcoiner 8 Apr

I have friends like that too. They have an opinion on everything, but when you start asking questions, their knowledge seems to disappear. There are some people who just can't be quiet and listen.

74 sats \ 0 replies \ @kepford OP 8 Apr

For most it is harder to listen than speak.

43 sats \ 0 replies \ @DiedOnTitan 9 Apr

Title reminds me of Las Vegas: An inch of marble, and a mile of shit.

44 sats \ 1 reply \ @Coinsreporter 8 Apr

Why is this? I don't really know if it is a cultural thing here in the US. Not sure if it is global or even just a human trait.

It's global and a general human trait. It's a trait associated with the mob mentality.

I can confirm it with one example. Here in India, it's a mob mentality that government jobs are far more better a career than a job in private sector or self employment or a business or anything else.

But in fact government jobs are way under paid than other ways. Can you compare a government servant to a businessman who even has his own small store somewhere in the centre of the market. The businessman has much more income than the government servant. Even hawkers in India can earn better than government servant now.

But the mob mentality is such that even schools, parents, well wishers, relatives and almost everyone here seem to preach young generation that they should somehow get a government job. Because government jobs are very limited in numbers, so most of young people don't get them and at last have to satisfy with anything.

The same is happening with Bitcoin, I think.

0 sats \ 0 replies \ @kepford OP 8 Apr

Yep, that makes sense. Its actually a battle to not fall into mob mentality.

33 sats \ 0 replies \ @OT 8 Apr

That's it. Everything is so complex and nuanced when you really dig into it. For most topics its better to just admit that you don't know.

33 sats \ 6 replies \ @gmd 8 Apr

Unfortunately the alternative media sources are just as bad or even worse with worse incentives. Old school journalists used to have standards to aim for at least. Before the business model went under, they used to pay people to fact-check etc. Now it's a crazy free for all for clicks in a post-truth world. And the scary part is it's only going to get 100x worse with AI...

99 sats \ 5 replies \ @kepford OP 8 Apr

We've seen a fiat induced decline it quality. It affects all aspects of our systems. That said, the old school was very state influenced. I would not go back to the old school era of media. The NYTs published pro Stalin propaganda. The media covered up for politicians. They lied to the public. I don't believe there was a time when you could just trust the media. When you read revisionist historians you can see different perspectives on different time periods and its is clear the press always has an agenda or multiple agendas. They have always sucked but I agree, they suck more today. At least today we have the Internet.

33 sats \ 4 replies \ @gmd 8 Apr freebie

I don't disagree but as a side note, why are we always so quick to label stuff we disagree with or dislike as "fiat"?

Not trying to pick on you specifically but it is really one of my pet peeves about BTC circles, how rapidly we resort to BTC tribalism instead of just stating our arguments on their own merits.

199 sats \ 3 replies \ @kepford OP 8 Apr

Yeah, I hear you. But, the reason I say this is because this is a good example. Fiat encourages high time preference. It encourages short term thinking. It encourages getting in and out. It discourages careful thoughtful transactions. The reason I said this was because I see it in many places. It is not the only factor but I believe it is a HUGE factor in cultural changes in modern life. I recognize that like all movements there are people that just throw out trite phrases but I believe it is based in rational understanding of the economic side effects of fake money and inflated debt based economies.

33 sats \ 2 replies \ @gmd 8 Apr

Yeah I definitely see what you're saying. I just think we extrapolate too far too often in attributing what is inherently caused by fiat and what is caused by normal chimp brain induced flaws like greed which can certainly be seen with hard money. Low vs High time preference are ideals I don't think really has anything to do with bitcoin... we certainly see lots of people lose their BTC chasing more BTC.

Anyway I don't mean to derail your thread, just some random thoughts probably better reserved for a Meta post.

199 sats \ 0 replies \ @kepford OP 8 Apr

Created a post in econ about Time Preference for those interested in learning more about it as an economic concept.

199 sats \ 0 replies \ @kepford OP 8 Apr

Fair enough. I haven't written out my reasoning connecting all the dots in my thinking here. It might interest you to know that I actually didn't have a clue that bitcoiners talked about time preference for years. I learned about this subject area from economics, not bitcoin. Its not an ideal as many bitcoiners state. Its a calculation everyone makes every day many times a day. Its a fascinating topic to me. High time preference has its place just as low time preference does. In the end its all about incentives and their side effects.

10 sats \ 1 reply \ @Satosora 8 Apr

I think the big problem is how we grew up and were educated. People cant do many of these things, economics, growing your own food. Many of these things are weird to the younger generation. Just imagine, kids cant even do math anymore to balance a checkbook. Does anyone remember balancing a checkbook? I feel the public school education system has really failed american society.

0 sats \ 0 replies \ @Bell_curve 8 Apr

I remember balancing a check book.

Watching young adults and kids trying to mail something priority mail is hilarious. Unless he or she sells stuff on eBay or posh mark etc

Public or government run schools are a joke. Some states are ok. But California is beyond awful. Baltimore is hopeless. We can’t fix public schools. We need to destroy them and start over

0 sats \ 0 replies \ @Coinsreporter 9 Apr

Lol, the title of your post is hard forked. #499042

0 sats \ 0 replies \ @IamSINGLE 8 Apr freebie

Yes, the gap is still too big.

We only have a few million people who use Bitcoin but those who use shit fiat are more than 8 billion.

I just read it #498887 that it will take more 20 years to reach to 5 billion bitcoin users.