Bitcoin Is an Investor-Unfriendly Cult If It Shuts out Users' Voices - Bitsonline

Bitcoin Is an Investor-Unfriendly Cult If It Shuts out Users’ Voices

Bitcoin (BTC) wears the mask of a scientific community but its devotees are more like a cult, says long-time commentator Daniel Krawisz. The Satoshi Nakamoto Institute founder sat down to chat about why that is, and the “investor-unfriendly” atmosphere that’s been creeping in over recent years that could destroy its success. Does he have a valid point?

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‘If People Are Dumb Enough, Bitcoin Will Fail’

Community infighting has been an unfortunate constant in Bitcoin for years now. In a way that’s to be expected for something never-before-seen and still experimental — differing and strongly-held opinions will attempt to pull it in opposite directions. But only some voices are allowed to be heard, and that’s turning off the people Bitcoin needs most.

Investors are the ones with knowledge about the future, and that’s what BTC needs — however its cabal of long-term insiders insist a bitcoin user must “climb the hierarchy” and learn the esoteric cryptography and programming knowledge before they’re allowed to voice their opinions. That’s more like a cult than a so-called scientific community.

Segments of the Bitcoin community often view neutral positions on BTC political issues, and value predictions by investors, as hostile. Those investors are often pressured to act against their rational self-interest by vocally supporting or even dumping their holdings of certain coins.

Let Dissenters Speak, or You’re Just a Cult

Krawisz, a founder of the Satoshi Nakamoto Institute and host of YouTube series “Bitcoin Stuff”, has a few choice words for what the BTC community has become:

“Satoshi’s engineering gave Bitcoin a lot of power… but there are limits to how retarded you can be. If people are dumb enough, it will fail.” Independent thinkers, creatives and even “weirdos” find themselves on the fringes or even forced out of the discussion.

Bitcoin itself is a black swan event but no cryptocurrency can be successful if it has “submissive investors”. That group includes all users, not just traders or those with large hodlings.

As a long-time Bitcoin user, watcher and economic commentator, Krawisz’s points deserve to be heard. Watch the full interview above to hear the rest of the story, and we’ll definitely be back to talk some more.

Do you agree with the points in this interview? Why or why not? Let’s hear your thoughts in the comments.


Video & images via Bitsonline, Jon Southurst

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