Yes, the cult where nobody is in charge and everyone encourages you to think for yourself.
Discussion
There's just a lot of conspiracy theories in the bitcoin community. Nostr is pretty diverse, but other social media has big cult vibes. There's also a ton of misinformation about economics in the bitcoin community. It's kinda cringe.
What's a specific example of economic misinformation in the bitcoin community?
Everything, basically. Bitcoiners seem to think the government is printing money still, that inflation is still bad, and that fiat is going to zero. None of that is true.
What's good about inflation?
It's good that inflation has come down. It's also good that there will be deflation in the future.
You said bitcoiners think inflation is bad, but it isn't.
What's good about inflation?
I misunderstood your point. You meant that inflation isn't high. Correct?
I meant bitcoiners think inflation is still high, which it isn't
The dollar has lost a vast majority of its value since 1971 and it's not coming back, so what is considered high is relative to your expectations.
However, I don't think that really matters. If you have a choice between holding an asset with consistent inflation and one with consistent deflation it's obvious which is better.
it increases the value of all my assets so my line of credit can increase so I can buy more assets (ideally income producing ones).
therefore translates to stacking more sats out of the limited 21 M bitcoins available.
Bonus when you can get the sats directly.
Direct me to the coolaid sir