Why cryptocurrencies are annoying

  • If you can’t stand it when people talk about cryptocurrency, you’re not alone.
  • The “crypto bro” stereotype can keep people from learning more about the technology.
  • We tend to retreat from concepts we are unfamiliar with.

You know that person. He wears a Moncler vest and always carries his phone and has a very strong opinion on which NFT to buy.

He also wants to tell you all about how much money he has made recently with his cryptocurrency investments and how it works.

Known as “crypto bro,” this persona has skyrocketed over the past two years as the surge in value of digital currencies has shifted it from peripheral investing to a pop culture touchstone. crypto bro has become part of the cultural lexicon GQ Profiles and hashtags Twitter And Tik’s tock.

Stereotypes are the result of the advent of cryptocurrencies as the Next Big Thing. Due to this year’s Super Bowl commercial, some dubbed it. Crypto Ball. NBC graduates Bachelor is Dive into the NFTs that make an impact. Miami and New York mayors to brand their city As a crypto hub — Eric Adams of New York even his first three salaries in encryption. Last month, people like Bill Clinton and Tom Brady gathered in the bahamas To talk about “Web 3.0”, a collection of online services powered by blockchain technology called “next stage” of the Internet.

The hype left a gasp for the air. Rebecca Jennings of Vox He described the lecture hosted by Gary Vaynerchuk on NFT as “the most unpleasant event I have ever attended.” there is the whole reddit thread Committed to Why Crypto Investors Are “Most Annoyed” and as a person recent tweets“Oh my God, I hate cryptocurrency so much.”

25-year-old Sasha Mutchnik posts memes about subculture on popular Instagram account @starterpacksofNYCI likened “crypto bro” to “financial people” in New York City. Chad and Brad in Patagonia vests. They are also part of the “tech bro”. Hoodie and sneakers persona mockery on HBO Silicon Valley.

“It was qualified by a combination of money and hype,” Mutchnik said. The cryptocurrency guy is “so drunk on the success of this thing (except for him and his fellow brother who came in early) that nobody really understands. Everything he wants to talk about.”

Mutchnik thinks it’s a shame considering the many companies that are working to make crypto platforms and technologies relevant and useful to our daily lives.

“The technology itself, and the vast majority of people who work with it, aren’t stupid, rough or unattractive,” she said. “But it closes with annoying language, endless merchandise, and vaguely minimalist logos.”

But there’s something deeper in the public’s disdain for cryptocurrencies than their annoyance. In a time when many crave IRL interactions two years after the outbreak of the pandemic, a concept unfamiliar to many in the spirit of the future and confusing tech jargon like The Matrix, where more of our lives are online. We back away from such unfamiliarity, and sometimes we retreat when we meet.

Crypto is like a weight loss drug

Celebrities in every stripe, from Matt Damon and Gen Z influencer Charlie D’Amelio Gwyneth Paltrow And justin bieberWe have started partnering with the following brands: Crypto.com or that encryption app Gemini to promote emerging currencies.

Reese Witherspoon Tweet In January, “In the (near) future, everyone will have a parallel digital identity. Avatars, cryptocurrency wallets and digital goods will become the norm. Are you planning on doing this?”

Jonah Berger, professor of marketing at Wharton, explains why this aggressive presentation may not be for everyone.

“People feel like they’re being pitched,” Berger said. “In some ways, a little

weight loss

A drug that makes you feel like a scam. Why are so many people trying? It’s probably because it’s not real,” he said.

This is a red flag after scams that have been endorsed by celebrities in recent years like the Fyre Fest, Theranos and Anna Delvey foundations. Additionally, the crypto world has seen several major losses and scams on its own. Popular NFT game developer lost $600 million Decrease in user investment due to security vulnerabilities, soaring value amid the popularity of ‘squid game’ coin


show of the same name, before it disappears on the internet.

It doesn’t help that Kim Kardashian and Floyd Mayweather are both. facing a lawsuit According to the plaintiffs, their crypto promotions were meant to raise the price of their own tokens in order to make money “at the expense of followers and investors”.

We are even more skeptical when suspicious things appear everywhere. Berger has spent 10 years studying consumer behavior. In his most recent book “Catalyst: How to change everyone’s mind,” He explores the way people step back when they feel pushed, which he calls “reactance.”

We feel it when we ignore spam, junk mail or annoying TV ads in our inbox. There are also some reasons why some people are resistant to cryptocurrencies. From Twitter on Witherspoon to “The Tonight Show,” attended by Jimmy Fallon and Paris Hilton, cryptocurrencies are being touted everywhere. NFT Purchase Comparison.

“People don’t like being sold for something,” Berger said. “When someone seems to be trying to persuade, their anti-persuasive radar comes into play.”

Cryptocurrency scares us.

The talk of bitcoin and ether raises another kind of alarm. Fear of the unknown.

Most Americans have known how money works from an early age. Paper bills and coins can be seen in real life and easily exchanged for merchandise. The concept of digital currency can be difficult to understand and intimidating as you have to be tech-savvy to understand, 19-year-old cryptocurrency influencer Miss Teen Crypto told me.

“Actually, we use technology every day that we don’t really understand, like using debit cards. We don’t know the technology behind the transaction, but we know it works,” she said. “This will soon be the case with cryptocurrencies as well.”

Not everyone agrees and it has nothing to do with crypto bros. Recently, the cryptocurrency market itself has been thrown into chaos. Bitcoin price has fallen more than 50% from its late 2021 highs.. “As an emerging asset class, relatively high levels of


For some people, it can be a pause.” BitWise Asset Management, told me.

furthermore, lack of regulation, environmental concerns Disagreement about how much power is needed How to value digital currency, has given rise to legitimate concerns about the future of cryptocurrencies as valuable financial instruments. Warren Buffett even said He won’t buy “every bitcoin in the world” for $25.

For whatever reason, fear breeds fear. According to psychologist and book author Carla Marie Manly, “joy from fear“It’s an evolutionary response in our primitive times where humans have learned to be vigilant and prefer situations where they feel familiar and safe. Most of them have low tolerance to risk, especially when it comes to health, safety, or finances. She said

“People who are completely new to cryptocurrency culture will tend to be overwhelmed and intimidated,” she said.

After all, some of us may feel closer to the caveman era than a world dominated by NFTs, dogecoin, and Coinbase. The opacity of names and meanings signifies a shift towards a more future-oriented society.

“You will feel anxious about what the future will bring, whether consciously or unconsciously,” Manley said.

Blame the Crypto Brothers

On the other hand, according to Manly, there is another category of people who find their knowledge of cryptography thrilling, especially when it comes to the minority.

“People who understand this area will feel very comfortable and generally not intimidating,” she said.

As Lawant puts it, the group “created its own shared stories, narratives, memes and other social norms.” He added that he could feel alienated or intimidated by those who do not share his values.

That’s consistent with Berger’s research, who found that social influences can lead us to behave like others depending on how we view other people’s identities in relation to ourselves.

“People like to do what people they like do, and they tend to avoid doing what other people don’t like,” he said.

This includes deliberately avoiding popular trends because some people like it to show you are against it. As Berger said, “Some of the people who do cryptocurrency have certain IDs that others may not necessarily want to be associated with.”

He says they might think, “This isn’t ‘me’. Someone has a status, but this isn’t for me,” he says.

Investing in cryptocurrencies and talking about them implies that you are a certain type of person.

@starterpacksofNYC founder Mutchnik said, “It’s a different kind of friend to Silicon Valley’s tech bro.” “This guy probably isn’t wearing an AllBirds or Patagonia vest. He might be wearing a Moncler vest or ridiculously expensive sneakers. There is some sort of need (or at least a desire) that is perceived as fashionable or plug-in among these people. .”

However, cryptocurrency friends, like everyone else, are stereotyped. As Mutchnik pointed out, not all cryptocurrency enthusiasts are men. Promotion for cryptocurrency sisterhood relationship. Not all cryptocurrency enthusiasts talk endlessly about Bitcoin. A lot of people are working to make cryptocurrency more accessible to people outside the stereotyped “crypto bro” crowd.” Boys ClubCo-founded by 37-year-old Deana Burke and 29-year-old Natasha Hoskins, is to welcome women and non-binary people into the crypto space. another group, NFT womanAs the name suggests, they want to open up their cryptocurrencies to women as well.

But the fact that stereotypes exist is enough to bewilder people. As Mutchnik said, “Crypto isn’t all bad, it’s just badly marketed.”

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