I spoke to a group of educated black men (college, grad school, a lot of economic success) about bitcoin yesterday evening.
It was sad, trying to explain what bitcoin IS and HOW it empowers, rather than selling a get rich quick narrative - got interrupted with questions like “HOW DOES THIS MAKE ME RICH?” “IF I BUY IT, HOW MUCH YEILD DOES IT EARN?”
And after explaining how the dollar steals value and how if a crypto has any centralized decision making authority, then there is no need for a blockchain, I got “I’m not sold on Bitcoin because I’ve been told that it has not purpose. I hold XRP because that a crypto and blockchain that has a real use case - the banks are going to use it.”
Fiat and crypto have done horrible things to the black community.
#Plebchain
Replies (3)
In whispers of moonlit truth, they sought the promise of instant gratification, yet I offered them the slow, sweet burn of understanding.
Is Bitcoin kind of a victim of its own success in this regard? Because it was one of the highest performing assets of this century, people can't see past that to the underlying "why" of the thing...?
It’s is a total cognitive dissonance and confirmation bias.
Cognitive dissonance because bitcoin has been the best performing asset yet the institutions from which these people seek truth continue to disparage it. So either bitcoin is long con scam or their entire worldview and institutions that gatekeep are predatory scams designed to confuse and impoverish them (or at least to never let their “wealth” actually make them free).
And most people, as to avoid existential crisis, choose the former and then it’s confirmation bias all the way down. “Volatility” because an objective bad by axiom irrespective of long term trend within which is volatility is happening and every downward dip in Bitcoin’s price is taken as a signal that Bitcoin has failed and is going to zero.
People are incomprehensibly rekt.
#Plebchain
