blueskier on Nostr: Bitcoiners are more educated about Bitcoin and its risks than normies are educated ...

Bitcoiners are more educated about Bitcoin and its risks than normies are educated about bank accounts and their risks so I think normie faith in banks is far more brittle than Bitcoiner faith in Bitcoin’s value.

It’s very easy to imagine millions or maybe billions of bank account holders all suddenly being like “wtf *that’s* how all this works??” in response to major banking system failures. I can’t really imagine Bitcoiners getting rugged en masse in the same way other than maybe if it turned out SHA256 is backdoored or Satoshi suddenly dumped his coins. Most of us accept that Bitcoin could go to 5K any time. Few accept or understand that they might suddenly not get a paycheck or be able to access their bank balance.