July pfp
July
@july
Why do some non-crypto folks hate crypto so much? An idea I've been thinking about: Martin Luther circa 1500s come to mind w.r.t. Christianity, specifically Catholicism. We've all been lead to believe that money can only be created and ordained by the Nation State, but in fact, there is perhaps another possibility.
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July pfp
July
@july
Before Martin Luther, the Catholic Church was the entity that could sanctify / literally owned your relationship with God - they had a monopoly over your relationship; the language Scripture was written in, the tools that were used for worship etc. Then Martin Luther comes along says it doesn't have to be that way
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Ryan Anderson pfp
Ryan Anderson
@ra
When you live with the financial system for your whole life, you ignore the inequality and bullshit rules because they’re normal. Crypto has some of the same problems, but it’s new so people resist. Most of what people hate about crypto is equally true of capitalism generally.
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mark mollé pfp
mark mollé
@marmo
Disintermediation from the state is broadly appealing. Now, philosophically, it could seem like that fear is driving the hatred of crypto. I like the arg, but believe the hatred stems from its complexity, difficulty, and the inherent suspicion of all financial innovation, which, tbt, has not been equitably beneficial.
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↑ j4ck 🥶 icebreaker.xyz ↑ pfp
↑ j4ck 🥶 icebreaker.xyz ↑
@j4ck.eth
full thread view: farcaster://casts/0x6f1b2fd8932745486529e2ae7aa1bcbaac570b4f98d52dd0b664cf5b626169f2/0x30d89c2af60de4c16e57343a536bb147220228b06eeb34c087e8e57d97c6a6f5
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Rolf Hoefer pfp
Rolf Hoefer
@rolfhoefer
the reason might not be inherent to crypto, but inherent to whatever the non-crypto's existing value system is. "I hate everything that is not what I love"--no matter what it is
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Linda Xie pfp
Linda Xie
@linda
There's a really unappealing, loud culture that comes into crypto during bull markets e.g. scammers, celebrity promotions, crazy displays of wealth and many retail folks get burned by it during bear markets. It's unfortunate and I get why some people are so turned off by crypto if that's all/mostly what they are seeing
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Kei 🗝️ pfp
Kei 🗝️
@keikreutler
crypto in its currently used forms does not threaten state issued money at all, so this has very little to do with public dislike
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Katsuya pfp
Katsuya
@kn
Could be as simple as people don’t like other people making lots more money seemingly with much less effort than them.
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Chu Ka-Cheong pfp
Chu Ka-Cheong
@kc
The view wasn’t that negative when talking about crypto 5 years ago. Not everyone would buy it but most of them think it is kind of interesting and willing to download a wallet to try. Perhaps a simpler explanation is that there are just too much scams and ponzi in recent years?
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Alex Loukissas 🍉 pfp
Alex Loukissas 🍉
@futureartist
Similar exercise: why do many hardcore crypto folks hate anything pre-/non-crypto?
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Ed O'Shaughnessy pfp
Ed O'Shaughnessy
@eddieosh
Any change that makes people question their assumptions can result in massive pushback.
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Fastackl.eth pfp
Fastackl.eth
@fast
Tuur Demeester made a detailed comparison to the reformation a few years ago. Not sure it explains “the people’s” view about crypto but it does seem clear that the US establishment sees it as a threat to their hegemony. And they control the airwaves https://casebitcoin.com/docs/TheBitcoinReformation_TuurDemeester
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Poppa pfp
Poppa
@poppa
A large amount of people don’t care, I think. Just want to do their daily thing, live not too much crazy stuff.
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