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Author Topic: The Demographic of Bit Coin Users  (Read 137 times)
lm2f (OP)
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December 25, 2017, 06:10:38 AM
 #1

The average bit coin user appears to

1. have no idea what money actually is
2. have a strong predicament against govermental control in general
3. prefer rationalization over reason, i.e. invents reasons for things he wants to be true like "bit coin's intrinsic value lies in the energy needed to mine it" while discarding obvious counter arguments like "the intrinsic value of my shit is the same whether I press hard or not at all"
4. Have little to no understanding of what constitutes real economic value

Anything else I missed?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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December 25, 2017, 06:50:30 AM
 #2

Interesting perspective, where have you conducted your research of the demographic of Bitcoin users?

I believe most users of Bitcoin have more understanding of money than others. I also think they have a lot of understanding of what generates real economic value. In fact, it's the illusion of economic value that most people believe exists in fiat currencies.

I don't think you know what the definitions of "realization" and "reason" are...starting with the fact that they aren't opposites that can be juxtaposed.

Maybe you should start by spelling Bitcoin correctly. Then you should ask questions about the people who support Bitcoin and understand directly what they do or do not know or believe.
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December 25, 2017, 06:57:43 AM
 #3

The average bit coin user appears to

1. have no idea what money actually is
2. have a strong predicament against govermental control in general
3. prefer rationalization over reason, i.e. invents reasons for things he wants to be true like "bit coin's intrinsic value lies in the energy needed to mine it" while discarding obvious counter arguments like "the intrinsic value of my shit is the same whether I press hard or not at all"
4. Have little to no understanding of what constitutes real economic value

Anything else I missed?

1. That applies to most people. However, Bitcoin users tend to know more about money and economic value than most people.
2. Yes, hopefully.
3. A rational person would say that "intrinsic" value doesn't exist, so arguments about the intrinsic value of anything are moot.
4. See #1

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December 25, 2017, 07:14:53 AM
 #4

Not much of an Average Bitcoin user.

1. have no idea what money actually is
1. These are people that were encouraged by their circle of friends or contacts that got wealthy because of holding or trading bitcoin.
Quote
2. have a strong predicament against govermental control in general
2. Just about 10-20% of the users here in bitcointalk, some of "these" people just made an inactive account or guest-reading the forums.
Quote
3. prefer rationalization over reason, i.e. invents reasons for things he wants to be true like "bit coin's intrinsic value lies in the energy needed to mine it" while discarding obvious counter arguments like "the intrinsic value of my shit is the same whether I press hard or not at all"
3. Notice that this kind of posters are just spamming "constructive" posts that they never even think deep enough just for their Signature Campaigns.
Quote
4. Have little to no understanding of what constitutes real economic value
4. Those in the #1 category fall in this as well, they just jump in the train, invested some dollars because of this someone they know.

The community grew about 100% or more since Bitcoin reached 10k$, making the community overshadowed by toxic members.

.
.HUGE.
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December 25, 2017, 08:59:58 AM
 #5

You are giving a perfect demographic of a Fiat slave :

1. have no idea what money actually is <Yes, check - They have full believe in their government>

2. have a strong predicament against govermental control in general < Greece & Cyprus and Zimbabwe, what more do we need to say?

3. prefer rationalization over reason, i.e. invents reasons for things he wants to be true like "bit coin's intrinsic value lies in the energy needed to mine it" while discarding obvious counter arguments like "the intrinsic value of my shit is the same whether I press hard or not at all"
Yes, and Fiat money is backed by? Not Gold... just trust in the government.

4. Have little to no understanding of what constitutes real economic value.
Check, Fiat slaves ignore the manipulation of fiat currencies and think it will retain it's value. How stupid can you be.  Grin

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