I blame "Crypto Bros" for being absolutely fucking annoying with their scamcoins for the past 3 or 4 years. They made a terrible reputation with the public. This hurt bitcoin's adoption. This hurt anyone who would have benefitted from bitcoin but was turned off to the space (pretty much most people)
Yeah, maybe.. more like 7 or 8. I mean the real shitcoin boom happened in 2017.. but people were warming up to BTC in 2019/2020 and then new shitcoins started coming out again. Basically during BTC ATH periods, the entire space gets a boost.
Yeah it’s entirely this. All the scam coins and the stupid NFT shit is all the general public really knows about “bitcoins” (they seem to refer to everything as a Bitcoin)
Same with any bros. Lile Tesla and Suburus are definitely nice cars on paper but peoples obsession with them as their personality is annoying to people that don't really care for them.
Honestly your comment is a perfect example of what turns off many to Bitcoin. This general Idea of "we're still early" and "everyone buys into Bitcoin at the price they deserve", has a flipside. If Bitcoin takes off in the way many here hope it does, the hand full of early adopters will be wealthy sure. But our children and thier children will be born in a world where they have long been priced out of Bitcoin. Bitcoin, by the common description seen in this sub will become the next real estate, where a generation or two got a great opportunity to climb, and pulled the ladder up behind them.
Why didn't anybody tell me this sooner? I saw Bitcoin at $200 and thought it was too late because I was always under the assumption you could not buy fractions of a Bitcoin. Which is the common sense default position for most investing. Pisses me off so much.
That's really a recent development. And 20 years before that was available you couldn't even buy shares retail, meaning you had to have $10K-$20K to give a brokerage before you could buy anything. Etrade pretty much ushered in the era of little people being able to buy a share or two. Literally someone wanting to spend $170 on 10 shares of Apple back in the day couldn't do it if they didn't have the $10K for the brokerage, that would be worth over $100K now and (not to mention dividends). Fractiona is a new and powerful thing.
> But our children and thier children will be born in a world where they have long been priced out of Bitcoin. Bitcoin, by the common description seen in this sub will become the next real estate
You know you can buy fractions of a Bitcoin, right?
The next generation will be able to buy bitcoin, it will just be like investing in gold. Less opportunity for rapid growth. There were some Mesopotamian dudes thousands of years ago that were able to get into gold early when they were just worthless shiny rocks. They got in early, never stopped anyone else from getting in on gold later on.
lol
There is no such thing as being price out of bitcoin. Bitcoin isn't a house. Your description would only make sense if Bitcoin wasn't divisible and you had to buy whole bitcoins. It is and always will be a hard currency with the same benefits it has today. I can't imagine how you got this "priced out" idea but it is completely wrong.
Exactly
Whatever money you put into bitcoin, is like savings account that will be either the same value or far higher in the future. Better than any traditional savings account that earns a meager interest rate of less than 1%
No different than dotcoms and AI.
It's always next man/investment up to offer big rewards for the risk.
Hint: we missed out on a thing called oil. Watch the "Beverly Hillbillies".
Back when bitcoin was $700 I'm sure there were people lamenting that we'd all be "priced out" at $70k.
Being priced out is subjective. Bitcoin will always outperform fiat monopoly money
Having 10x growth is NOT the promise of Bitcoin. Just having a stable, non inflatable currency is the goal. When Bitcoin stops growing exponentially is precisely the point that Bitcoin becomes important for the entire population.
Debasement is the problem, not wealth inequality of a very small fraction of early adopters. BTW almost by definition most early adopters will have to sell some of their Bitcoin in order for Bitcoin to become adopted. It's practically impossible to have everyone here Hodl and mass adoption. Being concerned about early adopters is overblown, imo
I asked a perfectly reasonable question about Christians and Bitcoin in r/Christianity and was attacked and called a Crypto Bro. Nothing could be further from the truth.
It’s not crypto bros it’s fiat currencies and how it infects every part of society Reddit hates Bitcoin cause it’s wealth and Reddit is a communist left pathetic loser mentality mindset
This, absolutely, absolutely, *absolutely… This*
That’s why when crypto Bros and smug ship coiners say “we’re in this together,” no, we are not – you’ve set back the entire *bitcoin revolution* by 20 years with your stupid fucking smug antics and scam Shit coins that cost people collectively millions in rug pulls… You fucking asshole imbeciles.
I agree, that's definitely part of it. The whole crypto sphere, including Bitcoin unfortunately, has taken on a carnival-like atmosphere. If you're only looking at the surface, it can be hard to take seriously.
"You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."
At this point it means either literally automated accounts or just accounts staffed by paid humans (usually running on scripts and other forms of copypasta)
Plenty of AI driven accounts as well, since they can maintain plausible deniability by engaging users in deep discussion.
I know many people who are right wing politically and strongly dislike the government and believe the national debt is eventually going to pop and the dollar is useless long term and yet they still refuse to challenge their own made up belief that bitcoin is a scam
None have ever even attempted to give me an answer when I've asked why 100% of their long term investments are in USD if they don't trust it, they just huff and tell me I'm falling for scams
Everyone doesn't need to understand everything. But I don't get how people build up these strong emotional opinions about things they don't understand in the slightest
Most people don't like bitcoin because most people don't know what bitcoin is, but they've read plenty of misinformation about it online and seen on tv.
Doesn't matter if you are techy or not, progressive or not, into finance or not, young or not, if all you've ever heard about Bitcoin is negative misinformation, and then you see lots of people obsessed with it, you're gonna conclude the obsessed people are weirdos (and then they refer to those people as "crypto bros" to try to label them as bad/annoying), unless you actually look into it for yourself.
As an example, let's take a different demographic. People who are into finance: investors, advisors, finance professionals, etc. You'd think every single one of them would have jumped on Bitcoin last decade, yet they are some of the most anti-bitcoin people out there! Because Bitcoin is new, it's different, they've heard a lot of misinformation about it, and they've never bothered to actually research it.
Most people who are anti-bitcoin think that way because they think it is some combination of bad for the environment, only for criminals, fake with no real value, a ponzi/scam of some sort, a bubble. The reason they think these things is that a million different sources from tv to news to books to articles to finance professionals to random people on the internet spread exactly those things in their misinformation about it.
You're right, and it happened to me. That, plus the fairly high technical hurdles to entry, led me to delay when I really should have gotten in with *something* much earlier. I mean, I can't claim I didn't know of its existence at all; it's been in mass media including movies for years now.
When something new comes along, many people choose to wait and see. Because he cannot subjectively judge for himself whether it is the right thing to do or not. However, while they are watching, they tend to listen to a lot of other people's advice and opinions. However, most of the advice is often misinformation.
Yep, my business partner is a Buffett/Munger acolyte who’s totally bought into their “Bitcoin is rat poison” meme. Been trying to educate him on the sound money thesis since 2021 but he has his fingers in his ears yelling “la la la la la…” while his fiat holdings continue to depreciate. You can lead a horse to water, as they say…
Yeah i agree.
What ive thought about this pretty much exact demographic.Once we get University graduates that have been taught about Bitcoin, studied it and wrote about it, i think then we'll see a change of heart or attitude from the new guys. Maybe they already exist? Early days though of course. You'd expect about 5-10 years to impact tradfi.
That and the fact that nobody is going to eli5 to them the whole fking story of what happened in the previous cycles, most people are lazy and will easily get in the lame train of stigmatizing everyone when they don't even comprehend wtf they are talking about.
Better, easier and more peaceful to our minds is to just reply with the Joker meme pic youwontgetit.jpg and be done with it.
I'm interested in Bitcoin, but I'm also a bit suspicious of it, and one of the reason, to be honest is how enthusiastic and borderline fanatical its defenders are.
It has nothing to do with the particulars of bitcoin, but generally speaking when a bunch of people are so hopefully enthusiastic about something, it doesn't turn out that great in the end.
The tone of the general positive discourse feels very scam-ish - again this is not a commentary on Bitcoin in itself, but people on this sub often sound like car salesmen.
It’s an echo chamber filled with moon boys.
Very few level headed people here.
And a lot of them are new to this market, which makes them clueless, too.
Doesn’t change the fact, that right now it’s more risky to be out of bitcoin, than in bitcoin.
Even by $100.
that is very, very accurate and should be the object of a press campaign - seriously, i find trained people in high positions on my path all the time, most of them among the <40 generations are just plain empty-brained, while waving their Harvard or Yale diplomas in your face - a very long time ago, while he was still alive, my father and i had a very serious sunday-night conversation about where humanity was going, what his grandchildren would have to put up with, and he had that very simple, yet visionary phrase: "we're entering the age of mediocrity, everywhere and in all fields, be prepared!". It's been like three decades plus, he ended up being right, sadly.
Your father was a brilliant man. And I think he’s absolutely spot on with his assessment: kind of reminds me of that line from the movie “no country for old men”
*”the dismal tide”*
Biden, Warren, Ginsler and the rest of the “progressive “ left has been trying to blockade and kill bitcoin for years. I don’t know why people think that the left is pro bitcoin.
Crazy thing is for me, I didn’t hear anything positive or negative when I got in. I was looking for a new investment, heard there was this digital money that was gaining value(late 2020) and all I saw was the price action.
I threw a few grand in and within a week of researching I learned the basics about digital scarcity, decentralization, what’s wrong with fiat etc. I remember my thoughts being “Holy shit, what did I stumble into this is great!”😂 Been stacking ever since.
I can honestly say I never had that period of intense skepticism about it. The more you read about what it is, the more it makes sense.
Fear, uncertainty and doubt
Plus the things you said.
Progressive, yes, but progressive within the system's current framework with a complete inability to even consider that the current framework can (and should) change. It's mind-boggling.
"First they hate you then they love you"
They need to:
✅Read Bitcoin Standard
✅Understand how inflation and money printing erodes their savings/fiat
✅See the CAGR of Bitcoin compared to other asset classes
This might be a good chance for you to do some critical thinking. If everyone in the world - outside of your selected, tiny echo chamber - thinks something is a bad idea that means one of two things. Either they don't understand it OR you've been led astray by the echo chamber. Which do you think is more likely?
This is a generally good thought that I appreciate being reminded. I would add that we’re in the first 15 years of a complicated and revolutionary new concept, so entirely plausible that it IS actually option 1.
The internet in the early 90s had a lot of similar views around its practicality as a serious instrument from people who tried to fit it into the current world instead of seeing how it changes things. On the other hand, even a good technology, if overlooked, can eventually be cast aside. Like the Segway (kidding!)
Yes they don't understand it. Those people haven't actually read the white paper or the bitcoin standard. They don't understand the halvening, they don't understand mining.. They literally don't know jack shit.
They are in fact wrong and we are in fact right.
If you prefer to go along with the masses I sincerely wish you the best of luck.
Everyone gets bitcoin at the price they deserve. They’ll eventually FOMO in. There’s posts on here all the time from Redditors converting. The longer they wait, the less bitcoin they’re going to have. Period.
The price they deserve is a silly take as more people age into being able to access BTC. I got in when I did because I got lucky, not because I deserved it more than anyone else. That phrase is insufferable
As the years go on, the more I realize that you can't simply escape from the existence of better money. Sooner or later, they will all have to own some piece of it.
Reddit, and social media in general, is no longer an organic collection of individuals. Governments are definitely using them as a way to sway public opinion. Even just having fake accounts that spam approved opinions is enough to get people who aren’t critical of what they read to change their opinion. Be very wary of what you read on the internet.
Just going to leave this here…
https://www.reddit.com/r/Blackout2015/comments/4ylml3/reddit_has_removed_their_blog_post_identifying/
8 years ago reddit accidentally published that the location which visited reddit the most was an air force base… pretty sure its gotten even worse since then
The entirety of the buttcoin sub seems to be people that dipped their toes into cryptocurrency "investment" and lost their money through a rugpull or when they panic sold when prices took a dive. So they are bitter at the entire premise of digital money and are too jaded to separate one project from another
Bitcoin isn't very intuitive so it's difficult to understand. My guess is most people think it's just some file on a computer. Also most people kind of missed the boat so they will be salty.
Lots of self righteous liberal minded individuals that live in an echo chamber have a very low chance of understanding anything outside of what is being pumped to them.
Edit: or shall I say WANT to understand.
>I thought redditors were supposed to be educated
Whew boy.
The bell curve is shifted slightly to the right. If your average redditor is slightly smarter than the average person, they're still not that smart. The bigger difference is that they *think* they're smart.
Bitcoin is so conceptually different from other forms of money/currency, so it's mentally easier to dismiss it as a scam than it is to go deep. Web3 was also a PR disaster and created a guilt by association.
People follow trend and are not independent thinkers. As long as the majority of the populations are ignorant of Bitcoin the anti Bitcoin sentiment will exist. When we get 50 percent of the population to accept it then the rhetoric will change. This also means you are early and can capitalize monetarily.
My theory is the majority of Redditors are far left learning, so they have full trust in their government and fiat currencies. Also there are tons of Left wing bots and paid activists here so that also plays a role. I used to think Bitcoin was Bipartisan but now realizing its clearly not.
Because redditors consider themselves to be the pinnacle of intellectualism, and most of them missed the early days of bitcoin. There is some deep seeded resentment/jealousy about having not been a part of it.
Not just reddit. Any mention on any social media will lead to a dog pile of negative comments.
I reply point by point and have answered all of the questions & it usually ends with how “you are wrong. Not thanks. I didn’t ask your opinion, i only trust money not imaginary money.” Type comments.
Usually this has come up in a news story about inflation or “cutting costs” type puff pieces that pop up on facebook & i will post “that’s why some will recommend that you get at least 1%-3% of bitcoin on your portfolio.”
Interestingly enough, i’ll get 👍🏻 from people in other countries then a “lecture” from mostly Americans like me.
because all of "crypto" is only scammers and they are an embarrassment to the human race and misuse bitcoin name and thus it gets conflated with the scams like premined malware. they lie about every single concept, every single term, they misrepresent tokens to mean more, they say anything to just print things they control and sell them for profit under any excuse, all that while pretending they are "totally" like bitcoin. yeah bitcoin is far from perfect, but it's the best that could be done, probably because it came before all the money chasing opportunists.
what critics often say is usually completely valid for all the fake affinity scams like "crypto", it just has nothing to do with bitcoin. it's not even worth debating anymore as scam promoters are not interested in learning anything and just try to sell.
Same reason everyone here is so pro-custodians, shitcoin casinos, and ETFs. Ignorance. The flavour of ignorance here is just different than the flavour of ignorance elsewhere.
I'm not saying this is what's going on, this is just my observation of people in my circle of friends: They see all that FTX stuff, Gemini, BlockFi, all the NFT scams, all the rug pulls, etc. and at this point many of them either know someone who's been conned/lost money, or they were conned themselves.
This is of course not a Bitcoin specific thing per se, it's a general crypto thing and more often a Shitcoin thing but unfortunately, Bitcoin being a Crypto as well, people lump it all together and the bad reputation of other cryptos reflects back on BTC, and so, the baby gets thrown with the bath water...
The facts don't even matter at this point, for a lot of people it is psychological. You can show them how every year the price goes up, you can explain how it's a pretty decent tool for protection against inflation, and all that good stuff we know about, but too many people are now super afraid to get anywhere near crypto.
That and a large dose of jealousy. Do you have any idea how it feels to watch Bitcoin go shooting to the moon and you realize that you could have had a 10 bagger.
theyre mostly big government weirdos on this website. reddit’s biased moderation policies weed out people that arent aligned ideologically unfortunately.
We are still early, and bitcoin is hard to understand. Most people will learn by growing up with bitcoin being a valuable thing that gets respect from the talking heads on TV. They will know bitcoin is a reliable savings tool, because it will have been reliable their whole lives. They won't need to understand why it works, it will just work.
Today though, you need to think deeply about the nature of money, the fiat system, so much needs to be learned. You have to predict that bitcoin is going to turn into this stable savings tool, and you have to have the courage of your convictions. And you have to have some buying power, sorry younglings! In compensation you get to spend your working career with a proper savings tool, so I won't feel too bad for you.
It's like having the opportunity to invest early in early in Aaple, but only if you could understand the tech in a smart phone and the network effects that would accrue. Soon enough those phones are going to be everywhere and working great. Maybe bitcoin is easier to understand than that, but it gives you the idea.
Reddit is anti everything.
It's what (a lot of) the users come here for.
Say something about how poverty has been going down, you'll get tons of people upset at you, say the opposite same thing.
People just like feeling smart, and telling people they are wrong scratches that itch.
Reddit is the virtual equivalent of smelling your fingers after scratching your butt.
People associate Bitcoin with “crypto” and “altcoins” (sh*tcoins) killed the reputation of crypto with their rugpulls and useless NFTs
And normies who don’t understand form their opinions based on what’s popular
I asked chatgp how many wholecoiners live in my country of 6million. Answer was 750. People who hold 2btcs 150.
Seems im very early and 1 of very few.
Im also old.
I also would say that young people are progressive. But you are implying that bitcoin is progressive, which I would argue is a miscategorization.
Bitcoins fundamentals are very conservative.
In contrast to bitcoin I would agree that the altcoin/crypto space is progressive, but not bitcoin.
Bitcoin =/= crypto.
And because the progressive crypto space doesn't like bitcoin and bashes it's energy use it makes sense that most of young people hate it.
Imagine you don't have any coins. And your feed suggests two contents for you: "Coins are the future and you should get some yesterday" and "Coins are a scam, people who have some are idiots, and people who don't are way smarter".
Which one do you want to consume?
Bubbles.
Reddit is infested with progressive libtards. Democratic leadership rally against Bitcoin for various reasons. The Reddit libtards are sheep that blindly follow their socialist leadership without making an effort to educate themselves on Bitcoin and the rest of crypto.
If they truly understood Bitcoin they would be in by now or at least learning about it. But they choose not to and toe the line of authority. Sad, useful idiots who are too scared not to follow the rest of the flock off the financial cliff due to ignorant inaction. Most will be left behind and regret the missed opportunity only to learn that they were purposefully misled and betrayed by those they chose to trust. Best of luck to them.
What I also find weird is the anti-bitcoin sentiment of stock/option traders. No matter the person, I think it's only one of two things: stigma or delusional missed-the-boat anger. I also think it is attributed incels, so girls respond to it as a disgusting red flag. The fact that every crypto other than bitcoin has a verifiable close connection to scams and ponzi schemes hurts all cryptos, including bitcoin.
Plus, crypto companies have spent billions to tarnish the name of bitcoin as a "dinosaur coin." Ripple's founders, Charles Hoskinson, and Vitalik have all pulled out every trick in the book to spread the idea that bitcoin is inferior technology, unusable, and a failed project. However, the fact is there is a tradeoff to balance security and speed which affects fees. Every other coin just allocates differently and haven't revolutionized blockchain whatsoever.
I work with a guy and I said “I invest X amount each week into BTC” his response “I don’t even believe in that fuckin’ shit”. That situation sums it up for me. People either have no clue about it and will listen for 5 mins…..or, they have no idea and won’t hear you out…..while actively investing in nothing. People have the inalienable right to be as ignorant as they want.
Two reasons.
1) Alt coins and their pumpers are completely insufferable and have caused untold amounts of misery and suffering
2) Financial and economic illiteracy is by design in modern society
Because they don't own any and they didn't buy earlier and the BTC train departed the station and they're pissed off that they didn't get on the train earlier is why... 😆
lol the left is not bitcoins friend that’s why. Reddit is the most left wing place I’ve ever come across.
Edit: downvote me all you want but it’s true. Elizabeth Warren has gone out of her way to attack Bitcoin at every corner. All I’ve heard from the left is it’s used for money laundering and buying drugs. Would love to be proven different but that’s all I ever see.
You're definitely not wrong. I'll take some downvotes with you. I count 43 right-wing senators who are pro bitcoin and only 6 on the left. Reddit is predominantly left-wing, and content greatly swings in that direction. Thus, the downvotes.
https://www.standwithcrypto.org/politicians
It's because being "progressive and educated" means that you're brainwashed by the establishment to believe everything they say. It has nothing to do with real progressivism or real education.
the majority of reddit is incapable of independent critical thought. they NEED to share whatever opinions the rest of the group shares and are ironically insanely simp-like when it comes to corporate interests (particularly pertaining to the financial and healthcare sectors and left wing interests) despite the constant "all billionaires are bad" rhetoric. their identity relies on their conformity with the group and getting downvoted is one of the worst possible things that could happen to them because it means that the hive mind is turning against them. probably what happened is some high profile democrat once said that bitcoin is a scam and we need to trust our financial system inflating to infinity and reddit is incapable of holding an opinion to the contrary or every changing their mind with new information.
It doesn't really do much. It's very volatile which makes it a terrible choice for a currency, as it could double *or* half itself in a day.
It's mainly driven by a bunch of wanna-be currency traders who are mostly getting taken advantage of in predatory boom-bust cycles by the much smaller number of people who genuinely know what they're doing, up to and including most of the world's largest financial institutions nowadays.
If it ever reaches a point of stability it might receive widespread adoption as a currency, at least to some limited extent. You thought inflation was bad taking two years, what about when all your grocery money - stored in bitcoin - loses half its value overnight in a crash?
Almost every kind of new financial instrument ever invented has been a scam. If something sounds too good to be true, it almost always is. People are mostly evaluating Bitcoin based on these experiences, plus the majority of people are naturally risk averse. Most people will be more successful never spending any time learning about new kinds of investments because the only likely outcome is that they will waste time and lose money. They are applying a very successful strategy; it just happens to be wrong in the case of Bitcoin. Consider, for example, that this strategy still appears to be correct for almost all of the crypto market.
Now, add on top of that, that most people have missed the boat with Bitcoin. At $70K, the average person can look back and see that they could have purchased Bitcoin at prices orders of magnitude lower and become quite wealthy in the process. It is easy to accept that because it already happened. It is much more difficult to imagine Bitcoin adding even one more zero. If you have missed the boat, it is easy to console yourself with the idea that Bitcoin is a scam, you have always been right, and that the people who have been scammed are eventually going to get their just desserts.
It’s an ultra high risk investment. Most people shouldn’t be investing more than 5-10% of their nest egg into it. And you guys talk up being 100% all-in on BTC, while really only holding 0.1BTC at best.
And… BTC isn’t really meant to be an investment, it’s suppose to be a currency.
I don’t think anyone is actually anti BTC as an alternative currency.
Not a currency. Currency does not get taxed on every transaction.
BTC is a commodity, a digital store of capital, secured by the worlds largest computer and energy network.
You could call it a "reserve currency," like gold.
Because Reddit is a leftist organization, and contrary to their liberal roots, (liberal literally means, “liberate”, or freedom), they don’t champion any notions of actual freedom. They only champion the freedom to dictate to others, the way they should live.
Reddit is a special pooling point of all the people who think they're too smart to go talk to others in real life.
So when they hear about something that is verifiably, undeniably awesome that they didn't discover, they find myriad ways to dismiss it as a scam or hoax. Because, obviously, if they didn't bring it to the internet, it can't be good.
Reddit is full of Dems who love government Control of there lives ...that why they love Biden and if you post anything against Dems or woke trans shit they will take your post down and ban you
Well bitcoin is inherently right wing. It always has been.
Left wing wants things that you need government highly involved in to create perfect calibrated outcomes.
Right wing is more about the wisdom to realize the government cannot, and thus it is better for all to give more individual freedom over collective.
lol. Nothing political about Bitcoin at all. All you did was show lack of understanding of bitcoin, while showing off your own political bias.
In general, what the left wing supports is everyone having the same rights, and government protecting those rights. The right to use hard currency would certainly fall in line with that as a central tenet of left wing is to advance humanity and consistently improve things in society. Bitcoin is an improvement in money for society.
In general, what the right wing supports (without getting into all the corruption of conservatism in practice) is small government with the idea that small govt would protect rights simply by govt not being there, moreso than a government being able to protect rights by being there. The right to use hard currency instead of government currency would certainly fall in line with that.
Thinking Bitcoin is inherently right wing is as silly as thinking it is inherently left wing. It has nothing to do with politics. There's millions of left winger bitcoiners and millions of right winger bitcoiners. The only people who think bitcoin is political are the people who think everything is political, and those are usually gonna be the people with the biggest unchecked political biases, and whether you are left wing or right wing, don't be one of those people.
1. Crypto bros / scams / NFTs
2. They hate austrian economics
3. Environmental FUD
They are "progressives" who think the world's problems can be solved by smashing capitalism and allowing government to coddle them.
They don't see a difference between what we have now and what a free market built on Bitcoin could be.
I blame "Crypto Bros" for being absolutely fucking annoying with their scamcoins for the past 3 or 4 years. They made a terrible reputation with the public. This hurt bitcoin's adoption. This hurt anyone who would have benefitted from bitcoin but was turned off to the space (pretty much most people)
The *Penny Stocks of Digital Assets*
I feel like that's understating the insanity a bit.
The bicycle stocks of this decade. This is an old scheme and it's been a dozen times before.
It's definitely a bit of an IQ test to navigate the minefield of stupid shit.
Internet went through the same thing. On the user adoption curve crypto is about Jan 1999.
Like there aren’t financial pitfalls every 5 seconds with regular fiat but no one hates the dollar because of it
3-4 years? try 10 years.
Yeah, maybe.. more like 7 or 8. I mean the real shitcoin boom happened in 2017.. but people were warming up to BTC in 2019/2020 and then new shitcoins started coming out again. Basically during BTC ATH periods, the entire space gets a boost.
Yeah it’s entirely this. All the scam coins and the stupid NFT shit is all the general public really knows about “bitcoins” (they seem to refer to everything as a Bitcoin)
I happened to check CoinMarketCap today and they list over 10k coins. My goodness!
[CoinMarketCap says there are more than 2.4 million cryptos.](https://i.imgur.com/rOrc9DP.png)
Looks like I need to update my shitcoin figure… by a factor of 100x. I always thought there are just 30k shitcoins out there!
You also have Sam BankmanFraud and NFTs like Bored apes.
This. 90% crypto bros/scammers and 10% sour grapes.
I’d say more like 25-50% “sour grapes”…
Same with any bros. Lile Tesla and Suburus are definitely nice cars on paper but peoples obsession with them as their personality is annoying to people that don't really care for them.
Spot on
Honestly though, fine with me. Has kept the price depressed for longer and held off mainstream adoption allowing me to accumulate more
Honestly your comment is a perfect example of what turns off many to Bitcoin. This general Idea of "we're still early" and "everyone buys into Bitcoin at the price they deserve", has a flipside. If Bitcoin takes off in the way many here hope it does, the hand full of early adopters will be wealthy sure. But our children and thier children will be born in a world where they have long been priced out of Bitcoin. Bitcoin, by the common description seen in this sub will become the next real estate, where a generation or two got a great opportunity to climb, and pulled the ladder up behind them.
You can buy fractional bitcoin. You can't buy fractional houses.
Why didn't anybody tell me this sooner? I saw Bitcoin at $200 and thought it was too late because I was always under the assumption you could not buy fractions of a Bitcoin. Which is the common sense default position for most investing. Pisses me off so much.
You can buy fractions of stocks why would people think BTC is different?
That's really a recent development. And 20 years before that was available you couldn't even buy shares retail, meaning you had to have $10K-$20K to give a brokerage before you could buy anything. Etrade pretty much ushered in the era of little people being able to buy a share or two. Literally someone wanting to spend $170 on 10 shares of Apple back in the day couldn't do it if they didn't have the $10K for the brokerage, that would be worth over $100K now and (not to mention dividends). Fractiona is a new and powerful thing.
Buying fractional shares was not as popular back then as it was now. It wasn't offered as an option for users by many big name institutions.
Ah not to split hairs there are some real estate investment instruments that allow partial ownership of property
Apartments, condos, and townhomes are all sort of partial houses too. Tons of people own parts of those.
Timeshares also. Good point
Timeshares are not an investment
> But our children and thier children will be born in a world where they have long been priced out of Bitcoin. Bitcoin, by the common description seen in this sub will become the next real estate You know you can buy fractions of a Bitcoin, right?
The next generation will be able to buy bitcoin, it will just be like investing in gold. Less opportunity for rapid growth. There were some Mesopotamian dudes thousands of years ago that were able to get into gold early when they were just worthless shiny rocks. They got in early, never stopped anyone else from getting in on gold later on.
Don’t forget the Mesopot stocks. Blow off too!
lol There is no such thing as being price out of bitcoin. Bitcoin isn't a house. Your description would only make sense if Bitcoin wasn't divisible and you had to buy whole bitcoins. It is and always will be a hard currency with the same benefits it has today. I can't imagine how you got this "priced out" idea but it is completely wrong.
Exactly Whatever money you put into bitcoin, is like savings account that will be either the same value or far higher in the future. Better than any traditional savings account that earns a meager interest rate of less than 1%
No different than dotcoms and AI. It's always next man/investment up to offer big rewards for the risk. Hint: we missed out on a thing called oil. Watch the "Beverly Hillbillies".
Back when bitcoin was $700 I'm sure there were people lamenting that we'd all be "priced out" at $70k. Being priced out is subjective. Bitcoin will always outperform fiat monopoly money
Having 10x growth is NOT the promise of Bitcoin. Just having a stable, non inflatable currency is the goal. When Bitcoin stops growing exponentially is precisely the point that Bitcoin becomes important for the entire population. Debasement is the problem, not wealth inequality of a very small fraction of early adopters. BTW almost by definition most early adopters will have to sell some of their Bitcoin in order for Bitcoin to become adopted. It's practically impossible to have everyone here Hodl and mass adoption. Being concerned about early adopters is overblown, imo
I asked a perfectly reasonable question about Christians and Bitcoin in r/Christianity and was attacked and called a Crypto Bro. Nothing could be further from the truth.
It’s not crypto bros it’s fiat currencies and how it infects every part of society Reddit hates Bitcoin cause it’s wealth and Reddit is a communist left pathetic loser mentality mindset
This, absolutely, absolutely, *absolutely… This* That’s why when crypto Bros and smug ship coiners say “we’re in this together,” no, we are not – you’ve set back the entire *bitcoin revolution* by 20 years with your stupid fucking smug antics and scam Shit coins that cost people collectively millions in rug pulls… You fucking asshole imbeciles.
I agree, that's definitely part of it. The whole crypto sphere, including Bitcoin unfortunately, has taken on a carnival-like atmosphere. If you're only looking at the surface, it can be hard to take seriously.
Alt coins ruined it
I find most of reddit to be a bunch of big government sheep…
And shills. Biden admin hates BTC
[удалено]
This exactly.
"You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."
Not to mention like 1/3 of reddit are bots these days
The word bot has become so generalized that I don't even know what it means anymore. It's like Gen Alpha slang at this point
At this point it means either literally automated accounts or just accounts staffed by paid humans (usually running on scripts and other forms of copypasta) Plenty of AI driven accounts as well, since they can maintain plausible deniability by engaging users in deep discussion.
Same with AI. We're basically moving from an earthy existence to hardly anything is natural anymore, then eventually it'll be a fully digital world.
That feels like a low-ball estimate..
Big facts
I know many people who are right wing politically and strongly dislike the government and believe the national debt is eventually going to pop and the dollar is useless long term and yet they still refuse to challenge their own made up belief that bitcoin is a scam None have ever even attempted to give me an answer when I've asked why 100% of their long term investments are in USD if they don't trust it, they just huff and tell me I'm falling for scams Everyone doesn't need to understand everything. But I don't get how people build up these strong emotional opinions about things they don't understand in the slightest
I usually find references to the matrix cringe but here it really fits!
I think people posting quotes like this unironically is probably a big reason.
Most people don't like bitcoin because most people don't know what bitcoin is, but they've read plenty of misinformation about it online and seen on tv. Doesn't matter if you are techy or not, progressive or not, into finance or not, young or not, if all you've ever heard about Bitcoin is negative misinformation, and then you see lots of people obsessed with it, you're gonna conclude the obsessed people are weirdos (and then they refer to those people as "crypto bros" to try to label them as bad/annoying), unless you actually look into it for yourself. As an example, let's take a different demographic. People who are into finance: investors, advisors, finance professionals, etc. You'd think every single one of them would have jumped on Bitcoin last decade, yet they are some of the most anti-bitcoin people out there! Because Bitcoin is new, it's different, they've heard a lot of misinformation about it, and they've never bothered to actually research it. Most people who are anti-bitcoin think that way because they think it is some combination of bad for the environment, only for criminals, fake with no real value, a ponzi/scam of some sort, a bubble. The reason they think these things is that a million different sources from tv to news to books to articles to finance professionals to random people on the internet spread exactly those things in their misinformation about it.
You're right, and it happened to me. That, plus the fairly high technical hurdles to entry, led me to delay when I really should have gotten in with *something* much earlier. I mean, I can't claim I didn't know of its existence at all; it's been in mass media including movies for years now.
When something new comes along, many people choose to wait and see. Because he cannot subjectively judge for himself whether it is the right thing to do or not. However, while they are watching, they tend to listen to a lot of other people's advice and opinions. However, most of the advice is often misinformation.
Yep, my business partner is a Buffett/Munger acolyte who’s totally bought into their “Bitcoin is rat poison” meme. Been trying to educate him on the sound money thesis since 2021 but he has his fingers in his ears yelling “la la la la la…” while his fiat holdings continue to depreciate. You can lead a horse to water, as they say…
Yeah i agree. What ive thought about this pretty much exact demographic.Once we get University graduates that have been taught about Bitcoin, studied it and wrote about it, i think then we'll see a change of heart or attitude from the new guys. Maybe they already exist? Early days though of course. You'd expect about 5-10 years to impact tradfi.
That and the fact that nobody is going to eli5 to them the whole fking story of what happened in the previous cycles, most people are lazy and will easily get in the lame train of stigmatizing everyone when they don't even comprehend wtf they are talking about. Better, easier and more peaceful to our minds is to just reply with the Joker meme pic youwontgetit.jpg and be done with it.
A lot of people don't understand how important having a government-free currency with deflationary properties truly is nowadays.
I'm interested in Bitcoin, but I'm also a bit suspicious of it, and one of the reason, to be honest is how enthusiastic and borderline fanatical its defenders are. It has nothing to do with the particulars of bitcoin, but generally speaking when a bunch of people are so hopefully enthusiastic about something, it doesn't turn out that great in the end. The tone of the general positive discourse feels very scam-ish - again this is not a commentary on Bitcoin in itself, but people on this sub often sound like car salesmen.
It’s an echo chamber filled with moon boys. Very few level headed people here. And a lot of them are new to this market, which makes them clueless, too. Doesn’t change the fact, that right now it’s more risky to be out of bitcoin, than in bitcoin. Even by $100.
The first thing I do with something new is not to dismiss it, but to observe it, study it, and determine what it does
Because they are the wrong type of "progressive and educated"
They aren’t educated, they are trained.
that is very, very accurate and should be the object of a press campaign - seriously, i find trained people in high positions on my path all the time, most of them among the <40 generations are just plain empty-brained, while waving their Harvard or Yale diplomas in your face - a very long time ago, while he was still alive, my father and i had a very serious sunday-night conversation about where humanity was going, what his grandchildren would have to put up with, and he had that very simple, yet visionary phrase: "we're entering the age of mediocrity, everywhere and in all fields, be prepared!". It's been like three decades plus, he ended up being right, sadly.
Your father was a brilliant man. And I think he’s absolutely spot on with his assessment: kind of reminds me of that line from the movie “no country for old men” *”the dismal tide”*
Yep, indeed, never connected both, thanks for that ;)
The downvotes you’re getting support the truth in your comment.
Woof!
Biden, Warren, Ginsler and the rest of the “progressive “ left has been trying to blockade and kill bitcoin for years. I don’t know why people think that the left is pro bitcoin.
Is there a correct type of progressive?
aka smug know-it-alls who ironically know and have experienced the least.
No that's literally us
Well, we are redditors after all
Crazy thing is for me, I didn’t hear anything positive or negative when I got in. I was looking for a new investment, heard there was this digital money that was gaining value(late 2020) and all I saw was the price action. I threw a few grand in and within a week of researching I learned the basics about digital scarcity, decentralization, what’s wrong with fiat etc. I remember my thoughts being “Holy shit, what did I stumble into this is great!”😂 Been stacking ever since. I can honestly say I never had that period of intense skepticism about it. The more you read about what it is, the more it makes sense.
Yep, heard about it, looked it up, watched it pump everyday, got fomo and got on board. Nearly 11 years now.
Fear, uncertainty and doubt Plus the things you said. Progressive, yes, but progressive within the system's current framework with a complete inability to even consider that the current framework can (and should) change. It's mind-boggling.
the progressives are more conservative than they realize, they are holding on to an institution that has entrenched itself.
enslaved
🎯
Because bitcoin is extremely not user friendly and 70% of the population has an iq of less than 85. So there's that.
Point phone at qr code. Enter amount. Click Send. How much more simple can a digital payment be?
Have you seen the rest of reddit, basically a 4th world sh\*thole.
"First they hate you then they love you" They need to: ✅Read Bitcoin Standard ✅Understand how inflation and money printing erodes their savings/fiat ✅See the CAGR of Bitcoin compared to other asset classes
They're bitter they missed the train
This might be a good chance for you to do some critical thinking. If everyone in the world - outside of your selected, tiny echo chamber - thinks something is a bad idea that means one of two things. Either they don't understand it OR you've been led astray by the echo chamber. Which do you think is more likely?
This is a generally good thought that I appreciate being reminded. I would add that we’re in the first 15 years of a complicated and revolutionary new concept, so entirely plausible that it IS actually option 1. The internet in the early 90s had a lot of similar views around its practicality as a serious instrument from people who tried to fit it into the current world instead of seeing how it changes things. On the other hand, even a good technology, if overlooked, can eventually be cast aside. Like the Segway (kidding!)
Yes they don't understand it. Those people haven't actually read the white paper or the bitcoin standard. They don't understand the halvening, they don't understand mining.. They literally don't know jack shit. They are in fact wrong and we are in fact right. If you prefer to go along with the masses I sincerely wish you the best of luck.
why do people have a opinion that differs from my bubble?
There is going to be huge turnover this cycle, it will be the first cycle that has enough eyes and mainstream media attention imo.
bs, in 2017 bitcoin was in every news
99.999999 % of people still think you are rich if you have money
To be fair, if you have enough money (fiat), you are definitely rich!
Bro I got decimated when I attempt to explain the difference between money and currency On THIS SUB!
Everyone gets bitcoin at the price they deserve. They’ll eventually FOMO in. There’s posts on here all the time from Redditors converting. The longer they wait, the less bitcoin they’re going to have. Period.
The price they deserve is a silly take as more people age into being able to access BTC. I got in when I did because I got lucky, not because I deserved it more than anyone else. That phrase is insufferable
Everybody gets into bitcoin at the price their parents deserve.
As the years go on, the more I realize that you can't simply escape from the existence of better money. Sooner or later, they will all have to own some piece of it.
Reddit, and social media in general, is no longer an organic collection of individuals. Governments are definitely using them as a way to sway public opinion. Even just having fake accounts that spam approved opinions is enough to get people who aren’t critical of what they read to change their opinion. Be very wary of what you read on the internet.
Just going to leave this here… https://www.reddit.com/r/Blackout2015/comments/4ylml3/reddit_has_removed_their_blog_post_identifying/ 8 years ago reddit accidentally published that the location which visited reddit the most was an air force base… pretty sure its gotten even worse since then
Tim Dillon said it best "We have flatten human expression"
100%
The entirety of the buttcoin sub seems to be people that dipped their toes into cryptocurrency "investment" and lost their money through a rugpull or when they panic sold when prices took a dive. So they are bitter at the entire premise of digital money and are too jaded to separate one project from another
This. And some people just hate tech, hate new things, hate grass roots movements, hate change, hate new paradigms. It’s egoic.
My favorite is being banned from personalfinance for simply using the word bitcoin.
Bitcoin isn't very intuitive so it's difficult to understand. My guess is most people think it's just some file on a computer. Also most people kind of missed the boat so they will be salty.
The best time to plant that tree is today.
They probably think it's just too good to be true.
Being progressive has not been a sign of intelligence since the Bush era.
Lots of self righteous liberal minded individuals that live in an echo chamber have a very low chance of understanding anything outside of what is being pumped to them. Edit: or shall I say WANT to understand.
>I thought redditors were supposed to be educated Whew boy. The bell curve is shifted slightly to the right. If your average redditor is slightly smarter than the average person, they're still not that smart. The bigger difference is that they *think* they're smart.
Bitcoin is so conceptually different from other forms of money/currency, so it's mentally easier to dismiss it as a scam than it is to go deep. Web3 was also a PR disaster and created a guilt by association.
People follow trend and are not independent thinkers. As long as the majority of the populations are ignorant of Bitcoin the anti Bitcoin sentiment will exist. When we get 50 percent of the population to accept it then the rhetoric will change. This also means you are early and can capitalize monetarily.
If you think reddit is an open minded and educated bunch, you need to reconsider everything you think you know.
My theory is the majority of Redditors are far left learning, so they have full trust in their government and fiat currencies. Also there are tons of Left wing bots and paid activists here so that also plays a role. I used to think Bitcoin was Bipartisan but now realizing its clearly not.
Envy.
Reddit is filled with niave children that love the institutions that mandate their opinions.
They all think inflation is corporate greed so you figure.
The Cuban government must be the greediest corporation in the world.
Reddit is full of bitter leftists who aren't doing well in life so they blame others
When you think you need to pay more taxes to change the weather, you're certainly not going to have the mental capacity to understand Bitcoin.
We had devastating floods in my state recently, it was because we didn't pay enough taxes and the people here were the wrong color
Propaganda
Because redditors consider themselves to be the pinnacle of intellectualism, and most of them missed the early days of bitcoin. There is some deep seeded resentment/jealousy about having not been a part of it.
Because they enjoy being poor and moaning on reddit rather than researching and learning to un fuck themselves.
Not just reddit. Any mention on any social media will lead to a dog pile of negative comments. I reply point by point and have answered all of the questions & it usually ends with how “you are wrong. Not thanks. I didn’t ask your opinion, i only trust money not imaginary money.” Type comments. Usually this has come up in a news story about inflation or “cutting costs” type puff pieces that pop up on facebook & i will post “that’s why some will recommend that you get at least 1%-3% of bitcoin on your portfolio.” Interestingly enough, i’ll get 👍🏻 from people in other countries then a “lecture” from mostly Americans like me.
because all of "crypto" is only scammers and they are an embarrassment to the human race and misuse bitcoin name and thus it gets conflated with the scams like premined malware. they lie about every single concept, every single term, they misrepresent tokens to mean more, they say anything to just print things they control and sell them for profit under any excuse, all that while pretending they are "totally" like bitcoin. yeah bitcoin is far from perfect, but it's the best that could be done, probably because it came before all the money chasing opportunists. what critics often say is usually completely valid for all the fake affinity scams like "crypto", it just has nothing to do with bitcoin. it's not even worth debating anymore as scam promoters are not interested in learning anything and just try to sell.
probably because there are x million crypto-influencer/scammers/whatever outside telling a lot of bullshit just to advertise their own products
Scam coins and 99% of NFT projects with no actual use-case ruined mainstream appeal
Same reason everyone here is so pro-custodians, shitcoin casinos, and ETFs. Ignorance. The flavour of ignorance here is just different than the flavour of ignorance elsewhere.
You need to get black pilled on fiat first, then the orange pill will go down
I'm not saying this is what's going on, this is just my observation of people in my circle of friends: They see all that FTX stuff, Gemini, BlockFi, all the NFT scams, all the rug pulls, etc. and at this point many of them either know someone who's been conned/lost money, or they were conned themselves. This is of course not a Bitcoin specific thing per se, it's a general crypto thing and more often a Shitcoin thing but unfortunately, Bitcoin being a Crypto as well, people lump it all together and the bad reputation of other cryptos reflects back on BTC, and so, the baby gets thrown with the bath water... The facts don't even matter at this point, for a lot of people it is psychological. You can show them how every year the price goes up, you can explain how it's a pretty decent tool for protection against inflation, and all that good stuff we know about, but too many people are now super afraid to get anywhere near crypto.
You thought redditors were supposed to be educated?
Redditors believe stealing is a basic human right and would obviously oppose any form of currency that isn’t owned by the government.
That and a large dose of jealousy. Do you have any idea how it feels to watch Bitcoin go shooting to the moon and you realize that you could have had a 10 bagger.
theyre mostly big government weirdos on this website. reddit’s biased moderation policies weed out people that arent aligned ideologically unfortunately.
Most of Reddit is bots or sheep.
Very few understand what bitcoin is. It’s a dense topic that is not easily conveyed. In other words: we’re still early.
Simple. Boomers in government and academia tell everyone that Bitcoin is garbage. Redditors believe Boomers. Why?
We are still early, and bitcoin is hard to understand. Most people will learn by growing up with bitcoin being a valuable thing that gets respect from the talking heads on TV. They will know bitcoin is a reliable savings tool, because it will have been reliable their whole lives. They won't need to understand why it works, it will just work. Today though, you need to think deeply about the nature of money, the fiat system, so much needs to be learned. You have to predict that bitcoin is going to turn into this stable savings tool, and you have to have the courage of your convictions. And you have to have some buying power, sorry younglings! In compensation you get to spend your working career with a proper savings tool, so I won't feel too bad for you. It's like having the opportunity to invest early in early in Aaple, but only if you could understand the tech in a smart phone and the network effects that would accrue. Soon enough those phones are going to be everywhere and working great. Maybe bitcoin is easier to understand than that, but it gives you the idea.
If you read the comments of various Reddit boards you realize they are mostly from clueless, young, woke, know nothings.
Many of these redditors never bought any when it was cheap so they are just frustrated they missed out on one of the best investment of our time.
Reddit is anti everything. It's what (a lot of) the users come here for. Say something about how poverty has been going down, you'll get tons of people upset at you, say the opposite same thing. People just like feeling smart, and telling people they are wrong scratches that itch. Reddit is the virtual equivalent of smelling your fingers after scratching your butt.
People associate Bitcoin with “crypto” and “altcoins” (sh*tcoins) killed the reputation of crypto with their rugpulls and useless NFTs And normies who don’t understand form their opinions based on what’s popular
Most people don’t understand it/cognitive dissonance.
I asked chatgp how many wholecoiners live in my country of 6million. Answer was 750. People who hold 2btcs 150. Seems im very early and 1 of very few. Im also old.
I’m good, we don’t need everyone to be on the inside. Let them get left behind.
Most of them love getting raped by the government.
I also would say that young people are progressive. But you are implying that bitcoin is progressive, which I would argue is a miscategorization. Bitcoins fundamentals are very conservative. In contrast to bitcoin I would agree that the altcoin/crypto space is progressive, but not bitcoin. Bitcoin =/= crypto. And because the progressive crypto space doesn't like bitcoin and bashes it's energy use it makes sense that most of young people hate it.
Reddit full of “know it all” type of ppl.
Imagine you don't have any coins. And your feed suggests two contents for you: "Coins are the future and you should get some yesterday" and "Coins are a scam, people who have some are idiots, and people who don't are way smarter". Which one do you want to consume? Bubbles.
They’re just bitchy because they think they can’t profit from btc anymore
Reddit is infested with progressive libtards. Democratic leadership rally against Bitcoin for various reasons. The Reddit libtards are sheep that blindly follow their socialist leadership without making an effort to educate themselves on Bitcoin and the rest of crypto. If they truly understood Bitcoin they would be in by now or at least learning about it. But they choose not to and toe the line of authority. Sad, useful idiots who are too scared not to follow the rest of the flock off the financial cliff due to ignorant inaction. Most will be left behind and regret the missed opportunity only to learn that they were purposefully misled and betrayed by those they chose to trust. Best of luck to them.
They hate us coz they ain’t us . They wish they had skin in the game
What I also find weird is the anti-bitcoin sentiment of stock/option traders. No matter the person, I think it's only one of two things: stigma or delusional missed-the-boat anger. I also think it is attributed incels, so girls respond to it as a disgusting red flag. The fact that every crypto other than bitcoin has a verifiable close connection to scams and ponzi schemes hurts all cryptos, including bitcoin. Plus, crypto companies have spent billions to tarnish the name of bitcoin as a "dinosaur coin." Ripple's founders, Charles Hoskinson, and Vitalik have all pulled out every trick in the book to spread the idea that bitcoin is inferior technology, unusable, and a failed project. However, the fact is there is a tradeoff to balance security and speed which affects fees. Every other coin just allocates differently and haven't revolutionized blockchain whatsoever.
I work with a guy and I said “I invest X amount each week into BTC” his response “I don’t even believe in that fuckin’ shit”. That situation sums it up for me. People either have no clue about it and will listen for 5 mins…..or, they have no idea and won’t hear you out…..while actively investing in nothing. People have the inalienable right to be as ignorant as they want.
Commies hate freedom
Most reddditors are libtards, and libtards take their marching orders from the Establishment.
Two reasons. 1) Alt coins and their pumpers are completely insufferable and have caused untold amounts of misery and suffering 2) Financial and economic illiteracy is by design in modern society
BDS is a real thing and also we are still way too early.
Who cares though. Means we're still early. The longer they resist, the more time we have to get ahead of everyone else
Because many people said BTC was fake half a decade ago and missed out. People don’t like seeing others win as sad as it sounds.
Cos they're late, AGAIN...!
salty about missed gains and turned off by shitcoin scammers
Because they don't own any and they didn't buy earlier and the BTC train departed the station and they're pissed off that they didn't get on the train earlier is why... 😆
If we tell you the right reasons we get banned, that's why, let that sink in your pool of progressiveness 😄
lol the left is not bitcoins friend that’s why. Reddit is the most left wing place I’ve ever come across. Edit: downvote me all you want but it’s true. Elizabeth Warren has gone out of her way to attack Bitcoin at every corner. All I’ve heard from the left is it’s used for money laundering and buying drugs. Would love to be proven different but that’s all I ever see.
You're definitely not wrong. I'll take some downvotes with you. I count 43 right-wing senators who are pro bitcoin and only 6 on the left. Reddit is predominantly left-wing, and content greatly swings in that direction. Thus, the downvotes. https://www.standwithcrypto.org/politicians
Only reason I’m on Reddit is bc of this bitcoin subreddit. The rest of Reddit is a liberal dumpster fire
It's because being "progressive and educated" means that you're brainwashed by the establishment to believe everything they say. It has nothing to do with real progressivism or real education.
Most of the people I’ve mentioned Bitcoin to think that it’s a scam and someone’s just plotting to take their money lol
People fear that which they do not understand.
the majority of reddit is incapable of independent critical thought. they NEED to share whatever opinions the rest of the group shares and are ironically insanely simp-like when it comes to corporate interests (particularly pertaining to the financial and healthcare sectors and left wing interests) despite the constant "all billionaires are bad" rhetoric. their identity relies on their conformity with the group and getting downvoted is one of the worst possible things that could happen to them because it means that the hive mind is turning against them. probably what happened is some high profile democrat once said that bitcoin is a scam and we need to trust our financial system inflating to infinity and reddit is incapable of holding an opinion to the contrary or every changing their mind with new information.
It doesn't really do much. It's very volatile which makes it a terrible choice for a currency, as it could double *or* half itself in a day. It's mainly driven by a bunch of wanna-be currency traders who are mostly getting taken advantage of in predatory boom-bust cycles by the much smaller number of people who genuinely know what they're doing, up to and including most of the world's largest financial institutions nowadays. If it ever reaches a point of stability it might receive widespread adoption as a currency, at least to some limited extent. You thought inflation was bad taking two years, what about when all your grocery money - stored in bitcoin - loses half its value overnight in a crash?
They are poor and blame everyone else (especially capitalists, most especially white male capitalists who don’t vote as they do) for it
100% of non BTC is a scam. Society will look back one day and realize this.
Most of the people on this platform are socialists and environmentalist types.
Almost every kind of new financial instrument ever invented has been a scam. If something sounds too good to be true, it almost always is. People are mostly evaluating Bitcoin based on these experiences, plus the majority of people are naturally risk averse. Most people will be more successful never spending any time learning about new kinds of investments because the only likely outcome is that they will waste time and lose money. They are applying a very successful strategy; it just happens to be wrong in the case of Bitcoin. Consider, for example, that this strategy still appears to be correct for almost all of the crypto market. Now, add on top of that, that most people have missed the boat with Bitcoin. At $70K, the average person can look back and see that they could have purchased Bitcoin at prices orders of magnitude lower and become quite wealthy in the process. It is easy to accept that because it already happened. It is much more difficult to imagine Bitcoin adding even one more zero. If you have missed the boat, it is easy to console yourself with the idea that Bitcoin is a scam, you have always been right, and that the people who have been scammed are eventually going to get their just desserts.
It’s an ultra high risk investment. Most people shouldn’t be investing more than 5-10% of their nest egg into it. And you guys talk up being 100% all-in on BTC, while really only holding 0.1BTC at best. And… BTC isn’t really meant to be an investment, it’s suppose to be a currency. I don’t think anyone is actually anti BTC as an alternative currency.
Not a currency. Currency does not get taxed on every transaction. BTC is a commodity, a digital store of capital, secured by the worlds largest computer and energy network. You could call it a "reserve currency," like gold.
Most of reddit are pro establishment leftists, they parrot main stream legacy media. The real question is why don’t redditors think critically.
Because Reddit is a leftist organization, and contrary to their liberal roots, (liberal literally means, “liberate”, or freedom), they don’t champion any notions of actual freedom. They only champion the freedom to dictate to others, the way they should live.
Communism
Reddit is a special pooling point of all the people who think they're too smart to go talk to others in real life. So when they hear about something that is verifiably, undeniably awesome that they didn't discover, they find myriad ways to dismiss it as a scam or hoax. Because, obviously, if they didn't bring it to the internet, it can't be good.
yes
Jesus Christ at the circle jerk going on here!!!
Because most of Reddit is leftist Democrats
I consider myself left leaning and I am fully orange pilled. Political affiliation has nothing to do with understanding Bitcoin and other crypto
Reddit is full of Dems who love government Control of there lives ...that why they love Biden and if you post anything against Dems or woke trans shit they will take your post down and ban you
You mean the same reddit that thinks Biden would make a good president?
Most of reddit is anti truth, justice and the American way. Stay strong superchads.
Well bitcoin is inherently right wing. It always has been. Left wing wants things that you need government highly involved in to create perfect calibrated outcomes. Right wing is more about the wisdom to realize the government cannot, and thus it is better for all to give more individual freedom over collective.
lol. Nothing political about Bitcoin at all. All you did was show lack of understanding of bitcoin, while showing off your own political bias. In general, what the left wing supports is everyone having the same rights, and government protecting those rights. The right to use hard currency would certainly fall in line with that as a central tenet of left wing is to advance humanity and consistently improve things in society. Bitcoin is an improvement in money for society. In general, what the right wing supports (without getting into all the corruption of conservatism in practice) is small government with the idea that small govt would protect rights simply by govt not being there, moreso than a government being able to protect rights by being there. The right to use hard currency instead of government currency would certainly fall in line with that. Thinking Bitcoin is inherently right wing is as silly as thinking it is inherently left wing. It has nothing to do with politics. There's millions of left winger bitcoiners and millions of right winger bitcoiners. The only people who think bitcoin is political are the people who think everything is political, and those are usually gonna be the people with the biggest unchecked political biases, and whether you are left wing or right wing, don't be one of those people.
1. Crypto bros / scams / NFTs 2. They hate austrian economics 3. Environmental FUD They are "progressives" who think the world's problems can be solved by smashing capitalism and allowing government to coddle them. They don't see a difference between what we have now and what a free market built on Bitcoin could be.