22 lines
1.7 KiB
Markdown
22 lines
1.7 KiB
Markdown
# Crypto has a weird subculture
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Crypto subculture is an example of a self-organizing [high control group](../concepts/high-control-group.md) whose existence organically creates a market mania, [bubble](../concepts/bubble.md) and [narrative economics](../concepts/narrative-economics.md) that entices the public to invest in the asset class or join the group and its subculture.
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Since the asset class is [non-productive](../concepts/productive-asset.md) and [negative-sum](negative-sum.md) the crypto scheme entirely depends on attracting new investor inflows based on narratives of "money for nothing" and "easy wealth" that clash with traditional readings of [economics](../concepts/ideologies/keynsian-economics.md). These schemes may also depend on [technosolutionism](../concepts/ideologies/technosolutionism.md) or [libertarianism](../concepts/ideologies/libertarianism.md) to justify bringing more [greater fools](../concepts/greater-fool-theory.md) into the scheme.
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Crypto culture depends heavily on a distortion of language to signify belonging to an ingroup and leans heavily on [thought terminating cliches](../concepts/thought-terminating-cliches.md) to quell dissent or rational discourse. Within the crypto [subculture](../claims/weird-culture.md) there are several thought-terminating cliches.
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* "have fun staying poor" / "hfsp"
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* "If you don't believe it or don't get it, I don't have the time to try to convince you"
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* "we're all going to make" / "wagmi"
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* "hold on for dear life" / "hodl"
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* "the dollar is a ponzi scheme" / everything is a ponzi"
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* "now do the dollar"
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* "FUD"
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* "few understand"
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* "bullish"
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* "to the moon"
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* "diamond hands"
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## References
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* [@olson_line_2022]
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* [@golumbia_bitcoin_2015] |