Bitcoin's information insurgency

[acquafredda]

Such a great piece by Anthony Pompliano. Bitcoiners have already won by creating, infiltrating and controlling the narrative everywhere.
The establishment does not have the means to resist it, let alone combat it.
No keys, no cheese.

 
https://pomp.substack.com/p/bitcoins-information-insurgency

To investors,

There has been a lot of discussion recently about the bitcoin community’s communication tactics. Insiders believe that bitcoiners are some of the most educated minds on finance, technology, and innovation. They literally can’t believe that so much information is available for free to be consumed by anyone on the internet.

Outsiders see something very different. They see a group of people who appear to be religious zealots that only know how to communicate via memes, laser eyes, and aggressive tweeting. Here is the funny thing — both are correct.

The bitcoin community is filled with people who have dedicated years to understanding the intersection of multiple disciplines, including economics, finance, technology, cryptography, geopolitics, game theory, and many more. Not only have they acquired the knowledge, but they have had those ideas tested in the intellectual arenas of Twitter, Reddit, Telegram, etc.

Simply, bitcoiners have done their homework and they come prepared.

But bitcoiners also have a very unique way of communicating with people. While there are podcasts and email newsletters, much of the information is actually shared through internet culture. Where else will you find someone telling a billionaire to “have fun staying poor!” or someone telling a legend of Wall Street “Ok, boomer!”

To the outsider, this appears to be disrespectful, non-constructive, and a misstep for a group of people who are hoping to gain widespread adoption. These outsiders are put off by the bitcoiner antics at times, while believing the community will be the single point of failure in other situations.

The outsiders don’t understand the genius of the bitcoin community though. Bitcoin, and by proxy the bitcoin community, is competing with the most respected establishments in our society. Whether we are talking about the Federal Reserve, the Treasury, the US government, or large financial institutions, these organizations pride themselves on being the elite. They wear their suits and ties with an air of arrogance that is only acquired after an education at an Ivy League school and enough cocktail parties to fill a lifetime.

So why would bitcoin try to out class the elites? Well, it shouldn’t.

Just as an insurgency increases the odds of prevailing on a combat battlefield by employing non-traditional tactics, the bitcoin community has chosen to play a game that the elite can’t participate in.

Bitcoiners are conducting an information insurgency.

They are quite literally controlling the public narrative through an overwhelming amount of content that has no reliance on traditional distribution methods. Up until recently, the only time that journalists or television shows wanted to speak with bitcoiners was to ridicule, mock, and attack them.

The bitcoin community ignored those short term challenges and instead built a direct relationship with the mass population. Twitter. Reddit. Telegram. Podcasts. Instagram. Facebook. Email. You can’t exist on the internet for 24 hours without coming in contact with content that is created by this community.

So why are things like laser eyes so important? Easy — the memes are the message. You are watching information warfare conducted in a way that can’t be responded to by the elite and the establishment. What is the Federal Reserve going to do? Start firing off memes, gifs, and ALL CAPS BULLISH USD TWEETS??

No chance. The incumbents, from the government to the Fed to the banks, can only sit by passively and get bombarded day in and day out with the content. If they choose to acknowledge it and respond, they will only legitimize bitcoin and the surrounding community. If they continue to ignore it, bitcoiners will control the public narrative and continue recruiting more and more people to see their world view.

This is fascinating to watch because this information insurgency will likely be analyzed in retrospect as one of the most important psychological operations in human history. Millions of strangers on the internet are coordinating to meme a financial asset into retail investors’ portfolios, corporate balance sheets, financial institutions’ product roadmaps, and eventually central bank reserves.

Wait, what? Yes, read that again. The bitcoin community is using internet culture and speaking the language of digital natives to gain traction against the stuffy elites. Half the people running these establishments don’t know what a meme is, let alone have a coherent response on how to deal with what is happening. In fact, many of the older folks in the bitcoin community are against these tactics as well.

They constantly tell bitcoiners that they will have to wear suits and ties to meetings. They explain that bitcoin won’t be accepted until the laser eyes and memes go away. The alleged toxicity is seen as a bug, not a feature. But regardless of what insiders or outsiders say, bitcoin continues to gain traction through the information insurgency.

This is because ultimately institutions, regardless of how elite or traditional they are, will always be made up of humans. Those humans are susceptible to human psychology. Everyone wants to be accepted by the cool kids. They want to have fun. It pains them to see young people running laps around them, while their bosses are telling them to remain calm and stay above it all.

That isn’t how the internet works. The young people inside these organizations and establishments know that. Go talk to the interns and entry level positions at Goldman Sachs, JP Morgan, the Federal Reserve, or any political office. They’ll all tell you the same thing when the door closes — they’re bitcoiners and they have a pseudonymous account on Twitter. They’ll explain how they are trying to get their bosses or older colleagues to see the future. To see the bitcoin way.

So what the institutions don’t understand is that the bitcoin community has already won. Bitcoiners have infiltrated their ranks. They are the trojan horse. Each bitcoiner is rising in the ranks. They’re gaining power and influence. The institution may not know it, but there are wolves in the hen house and the institutions let them in!

We have bitcoiners who have infiltrated the Senate. We have bitcoiners who have infiltrated Congress. We have bitcoiners everywhere.

Regardless of their role, they are participants in the information insurgency. For example, we have Senators and Congressmen who have laser eyes on their Twitter profile pictures. We have people reading the terminology “shitcoin” into the Congressional record.

Have fun staying poor. Drop gold, buy bitcoin. Pay me in bitcoin. No keys, no cheese. Long Bitcoin, Short the Bankers. The virus is spreading.

Each meme carries a psychological impact that continues to recruit new bitcoiners. The establishment can’t respond. They can only complain, which makes them look even more archaic and out of touch. Who cares what they say, right? If they step out of line and take an anti-bitcoin stance, there are millions of bitcoiners there ready to pounce with a barrage of information, examples, memes, and gifs.

Frankly, it is unfair. No one should be asked to fight against this insurgency. Bitcoiners are too powerful. They don’t rely on gatekeepers. They don’t need the media’s permission to speak. Bitcoiners control the narrative. Bitcoiners have bigger audiences. Bitcoiners grow bigger, stronger, and more decentralized every day.

You can’t kill an idea, especially one who’s time has come. The information insurgency is upon us and the legacy institutions, and their leadership, are outmatched on the battlefield. Good luck to them. They’re going to need every ounce of it as they continue to be beaten down by the intellectually and creatively superior challengers.

Nobody has more fun than bitcoiners on the internet. I’m just proud to be a small part of this amazing community. Hope each of you has a great weekend. Talk to you on Monday.

-Pomp

[mk4]

Great great short piece by him. The boomer finance people simply don't get internet culture. It's not as if only the bitcoiners are posting memes and banter, the whole internet does! And there's a reason why we have a lot of memelords in the first place— because the boomers don't realize how diverse and how spread out the bitcoiners actually are. We have everything! — memers, bitcoiners with controversial opinions, bitcoiners who are downright idiots, bitcoiners that are actually super professional and that truly understand economics, bitcoiners that are solely tech people, everything!

[Kong Hey Pakboy]

Great great short piece by him. The boomer finance people simply don't get internet culture. It's not as if only the bitcoiners are posting memes and banter, the whole internet does! And there's a reason why we have a lot of memelords in the first place— because the boomers don't realize how diverse and how spread out the bitcoiners actually are. We have everything! — memers, bitcoiners with controversial opinions, bitcoiners who are downright idiots, bitcoiners that are actually super professional and that truly understand economics, bitcoiners that are solely tech people, everything!

Well, memes are made by poor people for the poor people, memes is the key to freedom of the people. Not to mention that most people in the Boomer generation and those older than them are pretty much had everything laid on to them so they don't have to work hard for anything and now that they are old, they think that the world still revolves around them so they still want it all. Controversy sparks debates especially if that controversy is the truth or exposes the truth.

[acquafredda]

Well, memes are made by poor people for the poor people

Memes are not made by poor people. Why do you say that?

Great great short piece by him. The boomer finance people simply don't get internet culture. It's not as if only the bitcoiners are posting memes and banter, the whole internet does! And there's a reason why we have a lot of memelords in the first place— because the boomers don't realize how diverse and how spread out the bitcoiners actually are. We have everything! — memers, bitcoiners with controversial opinions, bitcoiners who are downright idiots, bitcoiners that are actually super professional and that truly understand economics, bitcoiners that are solely tech people, everything!

Amen brother, that is what I like the most about this new community: there are people from different backgrounds all united under the bitcoin protocol rules. And all this people is smart, so fucking smart.

[Kong Hey Pakboy]

Well, memes are made by poor people for the poor people

Memes are not made by poor people. Why do you say that?

This is the one that I was pertaining too, and I do agree with what it says. I mean memes can be made out of nowhere so in a way even poor people can make it and enjoy it because it is everywhere and it is free.

[acquafredda]

there are far too many of them!  Let's say then it is not one of our favorites even if it makes sense among the overall narrative. The fact about opera it is undeniable, I hate opera. I cannot stand it.
Memes, by poor people for poor people. So be it!

[aoluain]

Great piece by Pomp, I never thought about it like that, its so true.

We Bitcoiners are bombarding the the public space 24/7/365 with our narrative
while the elites have essentially only 2 answers, Bitcoins power consumption and the
Money laundering by criminals talk.

Funny thing is, their attack (or defence, depending how we look at it) is intermittent, take
this year alone the head of the ECB has made 2 big statements that I can find

January 13th - ECB's Lagarde calls for regulating Bitcoin's "funny business"

February 10th - ECB president Christine Lagarde says it's 'very unlikely' that central banks will hold bitcoin in the near future

Janet Yellen, the U.S treasury secretary has sounded once I think, it doesnt matter.

February 22nd - Yellen sounds warning about 'extremely inefficient' bitcoin

Adoption is happening, we know its happening, they know its happening and they
realise there is little they can do to counter it, and they are frightened

[orions.belt19]

Loved the laser eye memes. Saw it everywhere on twitter for a period of time. Not many realize the impact of memes, especially for the younger generation. While its mostly just for laughs, it definitely has a deeper message than most realize. Its a collective effort. I agree with Pomp and its only just a matter of time. Each day I see articles from various traditional banks (Morgan Stanley, Bank of American then Deutsche just the other day) all expressing their thoughts about Bitcoin and I think its because they too realize that they can't just keep on avoiding Bitcoin even if they don't want to.

[Innerpumper]

If bitcoin is arguably the winner. bitcoin does not have the top fiat as it is owned by the state of the regulated state as a form of use. Bitcoin is used by anyone, not even whether they are people with a berdasi or not, just buy, store and spend bitcoins belonging to all.

[bassbity]

yes that's bitcoiner thinking which is very aggressive and can break various arguments. they are not only educated but also learn all systems from the smallest. they do know how to flow to deal with inconsistencies in developing information and problems. they're like detectives, that's the nickname I give senior bitcoiner.
Just imagine they can be invited to discuss in any field, even bicoiner are adept at using statistical calculations which are very difficult for certain people to master.
A great gift of mind was born from Bitcoin to educate a future that is even more challenging.

simple art for deep meaning.

[DooMAD]

I mean... the way it's worded certainly makes it sound compelling.  But, the more I think about it, the more I'm certain that the use of memes isn't a deliberate attempt to add a layer of obfuscation to keep the fuddy-duddies at bay.  It's just an observation of a generational gap.  This is merely the manner in which some younger people opt to share ideas.  It's not tactical.  They could be communicating in Latin and it wouldn't change the fact that most of the traditionalists still wouldn't "get it".

[acquafredda]

I mean... the way it's worded certainly makes it sound compelling.  But, the more I think about it, the more I'm certain that the use of memes isn't a deliberate attempt to add a layer of obfuscation to keep the fuddy-duddies at bay.  It's just an observation of a generational gap.  This is merely the manner in which some younger people opt to share ideas.  It's not tactical.  They could be communicating in Latin and it wouldn't change the fact that most of the traditionalists still wouldn't "get it".

It could be and given the fact that after 12 years nobody gets Bitcoin correctly there must be a reason to it. Now, whatever we may think of it, Pomp has a point here anyway. You too have a point though as we are witnessing a clash of cultures here, I mean think of the Schiff's for example. Schiff Jr. is just hilarious.

[DooMAD]

I mean... the way it's worded certainly makes it sound compelling.  But, the more I think about it, the more I'm certain that the use of memes isn't a deliberate attempt to add a layer of obfuscation to keep the fuddy-duddies at bay.  It's just an observation of a generational gap.  This is merely the manner in which some younger people opt to share ideas.  It's not tactical.  They could be communicating in Latin and it wouldn't change the fact that most of the traditionalists still wouldn't "get it".

It could be and given the fact that after 12 years nobody gets Bitcoin correctly there must be a reason to it. Now, whatever we may think of it, Pomp has a point here anyway. You too have a point though as we are witnessing a clash of cultures here, I mean think of the Schiff's for example. Schiff Jr. is just hilarious.

True.  It's likely that as soon as anyone tries to portray the situation as black and white, someone else points out a differing view.  It's also possible that many of those who are posting these viral memes may purely see Bitcoin through the lens of a speculator.  They may not be the ones:

who have dedicated years to understanding the intersection of multiple disciplines

and possibly have no appreciation for the innate qualities of open source, permissionless, transparent, etc.  It might just be a fondness for "green candles".  But perhaps there's no comeback to their social carpet bombing either, even if they are missing some of the nuance.

[cabron]

Proud Bitcoiners are proud Bitcoiners. See them on Twitter showing their wallet with 0.0015BTC on it saying "living the life!"  No matter what, no one can take it from him as he has the keys. No keys, no cheese.

Bitcoiners was also ridiculed through memes during the time of the bear season. Memes are just for fun just as how flat-earthers are being ridiculed online.

[mk4]

Well, memes are made by poor people for the poor people, memes is the key to freedom of the people. Not to mention that most people in the Boomer generation and those older than them are pretty much had everything laid on to them so they don't have to work hard for anything and now that they are old, they think that the world still revolves around them so they still want it all. Controversy sparks debates especially if that controversy is the truth or exposes the truth.

Uhm, I definitely wouldn't look at it that way. Memes are just one way(albeit, a definitely unique and bizarre way) of how a lot of people online, but mostly people on the younger side, express their interests/feelings regardless of financial situation.

[Kittygalore]

Proud Bitcoiners are proud Bitcoiners. See them on Twitter showing their wallet with 0.0015BTC on it saying "living the life!"  No matter what, no one can take it from him as he has the keys. No keys, no cheese.

Bitcoiners was also ridiculed through memes during the time of the bear season. Memes are just for fun just as how flat-earthers are being ridiculed online.

I think that memes is a good way to make some recognition out of bitcoin so instead of being mad about it, I think that embracing it is the better thing to do because in a way it paints us in a good light that we are all a sport for not being offended by the memes that sometimes attack bitcoin.

[aoluain]

Great great short piece by him. The boomer finance people simply don't get internet culture. It's not as if only the bitcoiners are posting memes and banter, the whole internet does! And there's a reason why we have a lot of memelords in the first place— because the boomers don't realize how diverse and how spread out the bitcoiners actually are. We have everything! — memers, bitcoiners with controversial opinions, bitcoiners who are downright idiots, bitcoiners that are actually super professional and that truly understand economics, bitcoiners that are solely tech people, everything!

and thinking about this a bit more I realise that the bitcoiners have something
unique apart from Bitcoin itself, its the fact that the bitcoiners who are just ordinary
people are in this space first, they created it, they developed and nurtured it.

Its almost like the bitcoiners control the space so they can use meme's and any other
means to communicate, attack or defend what is theirs.

I would say it irritates a lot of the Elites that they "have" to share this with us. This
generally dosent happen in the world of finance.

[acquafredda]

I mean... the way it's worded certainly makes it sound compelling.  But, the more I think about it, the more I'm certain that the use of memes isn't a deliberate attempt to add a layer of obfuscation to keep the fuddy-duddies at bay.  It's just an observation of a generational gap.  This is merely the manner in which some younger people opt to share ideas.  It's not tactical.  They could be communicating in Latin and it wouldn't change the fact that most of the traditionalists still wouldn't "get it".

It could be and given the fact that after 12 years nobody gets Bitcoin correctly there must be a reason to it. Now, whatever we may think of it, Pomp has a point here anyway. You too have a point though as we are witnessing a clash of cultures here, I mean think of the Schiff's for example. Schiff Jr. is just hilarious.

True.  It's likely that as soon as anyone tries to portray the situation as black and white, someone else points out a differing view.  It's also possible that many of those who are posting these viral memes may purely see Bitcoin through the lens of a speculator.  They may not be the ones:

who have dedicated years to understanding the intersection of multiple disciplines

and possibly have no appreciation for the innate qualities of open source, permissionless, transparent, etc.  It might just be a fondness for "green candles".  But perhaps there's no comeback to their social carpet bombing either, even if they are missing some of the nuance.

Exactly that. Last thing from my side considering what you wrote: It does not matter how one arrives to bitcoin (via the lambo, via the green candle, via the fomo, via the cryptowinter, whatever) but rather how one sticks to bitcoin. If there is one thing that bitcoin gave me for sure is to be able to commit and dedicate my time into something I care. That is the best part.

[mk4]

Up until recently, the only time that journalists or television shows wanted to speak with bitcoiners was to ridicule, mock, and attack them.

Heck, even until right now Bitcoiners are still getting heavily ridiculed, just significantly less than how it used to be years ago. Hence why I have huge respect to the early Bitcoin advocates that had the balls to appear on CNBC/CNN/etc knowing that they it's almost guaranteed for them to get ridiculed. They're having the last laugh today, though.

[Darker45]

The article is fun to read.

Social media is indeed a great equalizer. It is where a daily wage earner, for example, could directly insult a sitting president or a CEO or a billionaire. And this is indeed the one being exploited by the so-called bitcoiners. However, the social media is also a topsy-turvy, almost anarchic, world where right and wrong, truth and lie, fact and fiction, scam and legit, and so on are getting so mixed together that you can hardly tell anymore which is which.

So, in a way, while bitcoiners may consider this as their stronghold or turf, it could also be the very place where Bitcoin is utterly desecrated, made so cheap, abused, and humiliated by its very own rowdy and ignorant diehard and blind supporters.

Personally, I would discourage anybody seriously interested enough to get to know Bitcoin to learn about it on social media or even exclusive crypto or Bitcoin publications. A newbie trying to objectively understand Bitcoin with the use of social media might end up concluding that Bitcoin is a Ponzi scheme.

I don't know who are the bitcoiners on social media. Perhaps they're the likes of @APompliano, @adam3us, @100trillionUSD, @DocumentingBTC, @lopp, @michael_saylor, and so on. But they're definitely not the only ones who could make Bitcoin posts out there. There are a million others. So I don't I think I'd agree with this:

https://pomp.substack.com/p/bitcoins-information-insurgency

Simply, bitcoiners have done their homework and they come prepared.