More Bitcoin Derangement Syndrome (So Sad)

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In this video, I go over a YouTube comment thread to demonstrate how many people approaching Bitcoin struggle with cognitive biases or anger-- what's commonly known as "Bitcoin Derangement Syndrome."

Not investment advice! Consult a financial advisor.

View the comment thread here:

Chart of tulip bubble:

Chart of USD/TRY:

Are cryptocurrencies currencies? Bitcoin as legal tender in El Salvador:

Map of Bitcoin merchants in El Salvador:

Chart of Fed Funds:

Will Tether Crash Bitcoin?

My favorite Bitcoin dashboard:

Video of man screaming that Bitcoin is going to zero:

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Disclaimer

[Bitcoin_University]

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[QDogg]

This person needed the permission of science journals to accept Bitcoin. I like how you said he should be the scientist himself and do the work to come to the conclusion.

Everyone gets Bitcoin at the price they deserve...

[LoloLovesLife]

Guy gathered all his mental prowess to read one article published in 'Science' magazine and now thinks he is a scientist.

[p-zq]

He says he likes to "understand complex systems", but isn't interested in going beyond a surface level understanding of BTC... He'll be back in 10 years, to convert his fiat for what will be only a few sats. Gotta love it.

[Steve-nbkg]

This is why I don't generally debate people - once you make a point they don't acknowledge or respond to it, they just move to another point or change the subject. Or just strawman or any make any flawed argument.

[pavementstoneguy]

I find it hilarious when people get mad about things that are completely VOLUNTARY to use/do

[LeviWritesBooks]

My wife said, "I'm pretty sure this person is a bubble."
🤣🤣🤣

[pepsico]

Cringe, that guy just keeps digging himself into a deeper hole and has no real talking points. Typical nocoiner conversation.

[stevengardner]

I used to have conversations like this with people but now I've embodied Satoshi's quote:

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.”

[Yupthereitism]

People who don’t realize they are biased are the worst, literally impossible to be logical with.

[nedbarker]

2 words: Truth and Time, that person has not asked the basic question of what is the truth and has not bothered to take the Time to seek it out

[odinaden.]

This is why i do not engage with these these types anymore. No amount of new information is enough, no work will be put in on their behalf, no ppoint.

Imagine thinking that bubbles, in the day of information, last longer than when news still traveled by ship. What an absurd notion.

Applaud you for the efforts.

[shreddedatsixty]

If I had to guess I would say he is employed in Academia. No where else can you pretend to be an intellectual without any actual proof.

[twopeopleinparadise]

We have lived here in El Salvador since shortly after the legal tender law. The map shows only a fraction of the businesses accepting Bitcoin. Bitcoin adoption is proceeding slowly, but steadily.

There is a lot of skepticism, thanks in large part to the poor timing of the last bear market. Most people cannot endure the volatility. Thankfully, there are companies here deploying innovative solutions for regular working people.

Unlike other countries, there are few barriers to using Bitcoin as your sole medium of exchange here. There are more people doing so this year than last year, and there will be more next year too.

[joeybu]

You're a saint Matt.
I stopped talking to those people.
I just give them a "stay poor dude" message.

[P__]

The “(so sad)” makes me laugh every time

[mbrown]

Ah, but both MSNBC and CNN say bitcoin is BAD, Therefore it's true! Do some scientific research Matt. 🤣

[BecamePneuma]

It’s alarming to me how defensive people get who “invest” in other “cryptocurrencies”. If they sense you are a Bitcoin maxi in the slightest sense (which I have no problem with), they go off. They can’t just accept the fact that they’re chasing a quick buck and when you call them out on it, they lose it. Very telling about how uneducated people are on how money works. God Bless

[Lakeland]

"Some Japanese guy in a cave" 😂

[heygoober]

First thing that shot to my mind watching this video: "Do you know what we call a bunch of anecdotes? Data!" - Michael Knowles. Keep up the spirit, Matt