Debunking the Link between Bitcoin and Psychopathy
Separating Fact from Fiction
How many articles have been published on Bitcoiner characteristics being psychopaths or with 'Dark Triad' personalities? Too many. Who's funding this research? Well, it seems researchers with backgrounds in marketing and advertising. It makes me wonder, who are the real psychos? In fact, the studies prove a weak correlation between psychopaths and Bitcoiners. The sample size for this study was a measly 566 people!
All the Bitcoiners I've met in the last two years are curious people who ask questions. So, let's clear a few things up.
The Great Bitcoiner Debate: Psychopath or Rebel?
It's not surprising that there are no reputable academic studies on this topic. It seems that lazy journalism is trying to rile up the community. It's unfair to generalise the entire Bitcoin community as psychopaths just because we want a sensible and equitable revolution. Bitcoin can and is being used for so much good. One clear example is how it can help manage the environment. How many industries can take a potent greenhouse gas like methane and convert that into work that both secures a global network and drives down Co2. Bitcoin does this and more.
https://www.cityam.com/why-i-think-bitcoin-could-be-a-key-to-saving-the-environment/
It's important to approach discussions of Bitcoin and other cryptocurrencies with a balanced and objective perspective and to base claims on evidence rather than unfounded stereotypes.
Bitcoiners go against the grain, put their head above the parapet and have a unique perspective on the status quo. Some people can exhibit behaviours that could be interpreted as psychopathic when, in fact, they are just expressing their frustration at a lack of knowledge and understanding on the subject.
Differentiating between Bitcoiners and Web3 Community
Perhaps the confusion lies in the fact that Bitcoiners and the Web3 community have very different mindsets. Bitcoiners are enthusiastic about Bitcoin and the underlying technology, it’s societal advantages and green credentials. They prioritise the importance of financial privacy and see the dystopian implications of governments who could wield total control over our finances. Protecting society from this is a high priority.
Some of the main characteristics of a Bitcoiner include:
Belief in decentralisation: Bitcoiners believe in decentralisation and the idea that everyone should have control over their own money without the need for intermediaries such as banks or governments.
Technical proficiency: Bitcoiners often have a deep understanding of the technical aspects of Bitcoin and blockchain technology.
Skepticism of traditional finance: Bitcoiners are often critical of the traditional financial system and its centralised nature.
Long-term vision: Bitcoiners tend to have a long-term vision for the future of Bitcoin, believing that it has the potential to disrupt and revolutionise many aspects of society.
Community-minded: Bitcoiners are often part of a larger community of like-minded individuals who share their enthusiasm for the technology and work together to promote its adoption and use.
These characteristics are not universal among all Bitcoiners, and the community has a wide range of opinions demonstrating a plethora of ideas and personality traits.
Risk Appetite
In a recent publication, the author claims:
‘Large fluctuations in cryptocurrency prices are common, which makes them a highly speculative investment. What kind of people are willing to take the risk, and what motivates them?’
Bitcoin is a very young asset. Volatility in young assets is normal and part of the growth process. As the market for Bitcoin matures and becomes more established, we can expect to see its volatility decrease and its value become more stable over time. In the meantime, investors should be prepared for the possibility of significant price swings and take steps to manage their risk accordingly. Every investor, traditional or not, will need to make these judgement calls.
Looking at it from a different angle, Bitcoin is arguably one of the safest asymmetrical bets of our lifetime. True Bitcoin believers are not obsessed with the price. Their goal is to create a peer-to-peer currency that transcends borders and empowers the unbanked. They seek to shield individuals from the ravages of hyperinflation and oppressive governments. Some will be drawn to the potential profits, but the real allure lies in the social, philosophical, and technological advancements that Bitcoin represents. Once you grasp that, the price is just a minor detail.
Satoshi Nakamoto’s Altruism
It is important to note Satoshi Nakamoto's humanitarian vision, as outlined in the Whitepaper. The goal was to create a decentralised digital currency that could operate outside traditional financial systems, with the aim of establishing a fairer and more democratic financial system, free from the control of centralised institutions such as banks and governments.
While it is challenging to determine the personality traits of the person or group due to their anonymity, their influence on the finance and technology industry is immense. Their vision for a decentralised financial system has inspired many innovators and entrepreneurs.
Satoshi Nakamoto and their ideology are held in high esteem for various reasons, unlike "he who cannot be named" who does not display the humility of Satoshi. The creators of Bitcoin were the antithesis of psychopathic, as evident in their communication and the fact that their Bitcoin holdings, now worth billions, remain untouched.
Bitcoiners have taken these altruism values and run with the spirit and humanism of Satoshi.
The Truth About Bitcoiners
When you interact with the Bitcoin community, one thing becomes crystal clear: these are some of the most intelligent, humble, and forward-thinking individuals you will ever meet. There may be some Bitcoin Maxi's who come across as toxic, but this should never be confused with psychopathic behavior. The same could be said for any industry, from gold bugs to traditional financiers. Bitcoiners are not afraid to take risks, but they're not reckless either. They are critical thinkers who look at every angle before making a decision. Albert Einstein, said it best:
"We cannot solve our problems with the same thinking we used when we created them."
So, are Bitcoiners really rebels? Absolutely. They're not afraid to challenge the status quo and push the boundaries of what is possible. They're constantly thinking outside of the box and exploring new ways to make a positive impact on the world. And while some may indeed be psychopaths, this is simply a statistical probability that applies to any large group of people.
Let's face it, stereotypes are often inaccurate and unfair. They can have serious consequences for the individuals affected and can lead to misunderstandings and conflicts. That's why it's crucial to challenge and debunk these stereotypes and treat all people, even Bitcoiners, with dignity, respect, and kindness.
Bitcoiners want to help humanity, to help those who are unbanked. They want to help the hard-working individuals whose savings are destroyed by inflation caused by greed and bad monetary policy. They want to help women who may be forbidden from holding their own money. They want to help victims of war. They want a just relationship with our environment. They want to make a difference in this world. They see the world for what it is and strive for positive change. These rebels are unrepentant in their pursuit of change, and they will not back down in the face of adversity.
So let's put this debate to rest and focus on the potential benefits of Bitcoin and its revolutionary technology. We should embrace the disruption and welcome the new opportunities that it brings. Whether you're a Bitcoiner or not, let's work together to make a positive impact on the world and create a brighter future for everyone. Fix the money, fix the world.
‘’You see us as you want to see us… In the simplest terms, in the most convenient definitions. But what we found out is that each one of us is a brain, and an athlete, and a basket case, a princess, and a criminal… Does that answer your question? Sincerely yours, the Breakfast Club.’’
- Breakfast Club 1985