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Comment by mtlmtlmtlmtl | Hacker News Reader

>I don't understand how...

It's actually fairly simple. They're financially invested, one of the strongest biases of all.

Isn't that almost always the logical consequence once you understand how Bitcoin works and you believe it can actually work as a safe haven investment?

Those who believe it can not work are most probably not invested. Those who believe it can work are most probably invested.

Those who are invested have no reason to understand how it works. They just need to recruit more members.

Hadn't considered this. I just figured there are a lot of people here that "believe" in crypto in theory but just don't happen to be playing in this space yet, instead watching from the sideline with interest. I was doing this for a long while (watching since 2011) but never spent a dime until I could be firmly convinced, which never happened.

You're suggesting that most/all of these pro-crypto commenters have real skin in the game. If so, then there are a lot more people here than I guessed with with disappoint in their future.

This is a pretty intelligent crowd, so the blind spot surprises me. Such is human nature.

It's not a blind spot, it's very on brand for a VC message board to have a lot of "greed is good" philosophy people who think that making money by mild trickery is perfectly moral, and that there's nothing wrong with getting people to buy into your fancy MLM so you can extract some wealth from the system.

The only value crypto has to the vast majority of people is to exit back into fiat, and doing that is only profitable if the trade value is higher than when you bought in, and that requires new money keep entering the system to be on the other side of your exit trade.

no conflict = no interest

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