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1/One of the biggest problems I have w the crypto community is the lack of logical rigor. You cannot have a conversation w most $BTC supporters disagreeing about #Bitcoin w/o significant gaps in logic & other thinking processes showing up, apart from emot defensiveness/attacks.
2/If I point out deflation for ex, they say "well, we don't know if it can work," even if I point out that it doesn't work--that is what QE was used to try to avoid, as problematic (& worse) as QE was, & why no deflationary money has ever had a sustainable lifespan. You cannot
3/have money that constantly increases in purchasing power in a credit-based economy, bc no one will borrow money that will be worth more, over & above interest, when they have to pay it back (& even among those who do, the default rates would be like 2008 subprime at the end of
4/every credit cycle)--you wouldn't have a functioning economy. They'll have no evidence to counter this (except straight misunderstandings about money/deflation/economics), but they'll stick to their original BTC argument anyway, & throw up unexamined ideas they read somewhere
5/that could make deflat. money work but that don't when actually examined. What they do is, in the face of every problem pointed out w #Bitcoin, throw up their hands & say, "we don't know, maybe it can work somehow," without offering a viable explanation how. This is apparently
6/considered being open-minded--this is not. This is a failure of logical rigor & a willingness to discard objectivity in the face of conflicting evidence, so as to preserve an existing bias. It is ultimately not WHAT a person thinks, but HOW a person thinks that matters, & it is
7/the most important thing I pay attention to when getting to know someone in this space. The degree to which people skip over logical hurdles & pick-&-choose the facts they want is a clear sign of how immature this space still is, & the extent to which no bull market is near.
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