You don't need to be dumb to fall for a dumb idea. Also, the average person is smarter than about 4 billion people.

> You don't need to be dumb to fall for a dumb idea

I get you can do something stupid in a rush but the longer you have time to reconsider, the higher the likelihood that you "didn't just fall for a dumb idea". Bitcoin is 15 years old.

> Also, the average person is smarter than about 4 billion people.

Bitcoiners are drawn from a normal distribution and not from the bottom part of the distribution, so that argument doesn't really work here.

> Bitcoiners are drawn from a normal distribution and not from the bottom part of the distribution

I think it's objective truth to note that "Bitcoiners" are predominantly comprised of:

a) people conducting illegal affairs (don't read this as "illegal" in the sense of jaywalking)

b) technically illiterate people, down on their luck and hoping to get rich quickly

With those in mind, I would argue that "Bitcoiners" are instead drawn from the left side of most distributions.

Do you have any facts to support your assumptions a) or b)?

There are less than 5 billion smartphone users, and you think every fifth has a bitcoin? Though, I'm not surprised hearing such estimations from a bitcoiner.

Anyway, no matter how large the unity of dumbs is or how passionate they are about their goal, it won't make them smarter. What they can achieve, though, is making other people dumber than they are, so that they can appear relatively "smarter".

and the true believers of those are maybe 0.001%, the rest are just hoping for a quick buck by riding the wave

cryptocurrencies are a failure and net negative, and the longer we hold on to believing they aren't, the more damage we are doing

A lot of things are net negative and straight up dangerous

But we keep doing them because enough people can get money out of it

A lot (if not most) bitcoiners think they are smarter than all the non-bitcoiners.

Do you object to that?

Let's say they're taking a financial risk which incentivizes (some of) them to study the matter more closely than someone else that is not taking that risk.

Does that mean they're smarter? I don't think so. It's a bet they're willing to take and time will tell who was right.