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by 1vuio0pswjnm7 895 days ago
There's probably more comments promoting and defending Bitcoin on HN than ones questioning it.

The question I have is why do commenters feel the need to respond to any comment about Bitcoin that is not a (sometimes subtle) promotion or defense of it.

A reasonable person might think it's because Bitcoin is only valuable if increasingly more and more people buy it. If it's not increasingly popular or if, God forbid, everyone holding Bitcoin were to try to sell, all at once, it's Game Over. (Some folks will lose money and all Hell will break loose.)

If the first statement is false, and Bitcoin is valuable if it's unpopular, then there should be no logical reason why anyone would try to "defend" Bitcoin on HN. Why would anyone care. It's valuable even if no one is buying, right. If it lacks popularity, then this is of no consequence. Ignore it.

Alas, there is no way to test if second statement is true, i.e., it is Game Over if everyone cashes out their Bitcoin, other than this actually happening. Even still, there is no logical reason anyone would need to "defend" Bitcoin on HN if someone else believes this to be true. Why would it matter if other people hold or sell their Bitcoin.

And yet, there are consistently HN voters and commenters who seek to "defend" Bitcoin from anyone who has doubts or asks questions. That, in and of itself, may raise suspicions even more.

"Bitcoin doesn't have to do something useful for everyone to survive. It doesn;t have to "replace fiat". It doesn't have to be a payment system. It doesn't have to "go to the moon". It doesn't even need an ETF."

But somehow it needs to be constantly defended in every electronic discussion. It needs constant promotion. It needs hype.

No one can simply state "I am not interested in Bitcoin" in a discussion without triggering some "response". Regardless of the merits of Bitcoin, or absence of them, that is fscked up. Red flag.

In case anyone gets confused, I am not suggesting that any commenter literally states "I am not interested in Bitcoin" and nothing else. I am using a hypothetical example of a seemingly benign statement to illustrate the idea that _all_ comments about crypto which are not positive are quickly "countered" by Bitcoin true believers. Here is perhaps a better example. Someone states, in so many words, that Bitcoin requires large amounts of electricity. Is this untrue. It is explicitly negative. It seems quite benign yet this sort of comment will almost invariably trigger a "defense". To some, that is a red flag that there is something suspicous about these "arguments" that people feel compelled to make about Bitcoin.

Check out the film "Bitconned" if you can. Slow start but hilarious in the end. What happens when some petty criminals accidentally come in contact with hordes of "true believers". online. If I am not mistaken this was the SEC's first successful prosecution re: crypto.

3 comments

>No one can simply state "I am not interested in Bitcoin" in a discussion without triggering some "response". Regardless of the merits of Bitcoin, or absence of them, that is fscked up. Red flag.

If the topic is some positive news about a technology (Bitcoin or otherwise), and your only contribution is "I am not interested in this" then you'll probably trigger a response. Might also be time to revisit the commenting guidelines.

> No one can simply state "I am not interested in Bitcoin" in a discussion without triggering some "response". Regardless of the merits of Bitcoin, or absence of them, that is fscked up. Red flag.

Lol this is ridiculous. If you popped up on a hacker news thread about abortion rights and said "I am not interested in abortion rights" would you also say it is a "red flag" regardless of the merits (or lack of merits) of abortion?

If you truly have no interest then lurk. But if you choose to talk (noone is forcing you to!) then don't be surprised at responses.

Well yeah, there's no need to defend it. Literally nothing would change. I'm just against bullshit arguments such as

"any random shitcoin did this, therefore BTC goes in the same bag," or

"no! We should absolutely live in a totalitarian dystopia and have governments that track every move we make. God forbid <money launderers> <terrorists> <some other bullshit>"

> no! We should absolutely live in a totalitarian dystopia and have governments that track every move we make.

Ironically, cryptocurrency will usher in governments tracking every penny we spend since it's all public on a distributed ledger.

More likely, so-called "tech" companies will be the ones most interested in tracking every move/transaction, a practice already familiar to them, as they can put that information to commercial use, selling online ad services. Unlike the government, they have invested in the infrastructure to gather personal information about citizens and use that information _for profit_. Nor are they bound by the same restrictions on use of collected data from citizens and laws that can potentially protect citizens against government spying. If a government wants the data from "track every move" it's guaranteed they will, to the extent they feel the need, try to have Big Tech provide them with the information they seek. History has shown they have already been quite successful at getting the information they want with Big Tech's assistance. It's only going to get continually easier as more and more information becomes centralised in a few Big Tech companies.