[maxqin1]

It's very interesting, actually.

I interpreted as "Bitcoin is bad but the cult of Bitcoin is nuts so we have to be careful about what we say."

What's more interesting is how the Bitcoin investor club is managing to delude themselves even with inputs from real proven financiers.

[pydry]

As Upton Sinclair once said, it is difficult to get a man to understand something if the value of his crypto stash depends upon him not understanding it.

[Applejinx]

I would clarify that just a bit.

It's difficult to get a man to understand something if the value of his crypto stash depends on OTHER PEOPLE not understanding it.

This is what bitcoin is. It's not a mass delusion: it's a will TO delude masses. I suppose some manage to fool themselves but I consider it a lot more likely that the majority are fully aware of what they're doing.

But it depends on deluding another level of the pyramid, and there's no real way to tell how high it goes before it collapses, so people are all-in, to the point where even Warren Buffett is talking in code and messaging 'I'm not going to say what I think about this, but I am going to say outright that I'm not saying what I think'. Not terribly hard to work out the message there.

Of course they're right.

[maxqin1]

Yeah, that's makes it even more insidious.