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Re:Bitcoin falls under $16,000 by kelseyfrog on Wednesday November 09, 2022 @07:00PM (#33540075)
My best explanation is an psycho-economic-reactance model. It hypothesizes that the largest crypto-pessimistic voices are engaging in the hyperstitious[2] manufacturing of a desired crypto collapse. The desire to foment crypto-collapse stems the reactance one imagines oneself experiencing in a thoroughly crypt-infused world. Allow me to draw a parallel.

There exists a contingent of folks who experience psychological reactance at the thought of having to make decisions with respect to government oversight. They "[experience] motivation to regain a freedom after it has been lost or threatened – leads people to resist the social influence of others" when faced with the prospect of having to deal with the government. We all know people like this.

The same reaction exists when people feel they will be forced to make decisions with respect to crypto - a system they didn't and don't wish to participate in. No amount of reasoning is going to make someone amenable to government interference in the same way no one is going to be reasoned out of being currency-interfered with by those wish to establish a crypto-hegemony.

1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4675534/

2. http://www.xenopraxis.net/readings/carstens_hyperstition.pdf

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