Bill Cypher on Nostr: There is a concept called threshold thinking. The core concept is that we are ...

There is a concept called threshold thinking. The core concept is that we are actually social thinkers. Each person has a threshold number of people in their life who believe a thing for them to also believe it. Individuals can be low or high threshold in general and also each individual has different thresholds per subject.

Bitcoin is weird to believe in statistically. You have to be at least a little low threshold to have bought into it, especially with a significant chunk of your net worth. Then those people have had high quality reinforcement that their low threshold thoughts are accurate and get high reward for following them, Bitcoin went up after all. That causes them to lower their thresholds more and be more confident in their beliefs.

This is why the Bitcoin community is overrun with conspiracy theorists. Thank you for coming to my ted talk.