Why The Personal Finance Community Doesn’t Get Bitcoin

Why the Personal Finance Community Doesn’t Get Bitcoin

Personal finance has grown into a veritable juggernaut of an industry. Its ecosystem teems with influencers and products. It has even made it onto CNBC in the form of their “Make It” page. For the sake of simplicity, I am using “personal finance community” rather broadly to include within its purview the FI/RE (Financial Independence/Retire Early) community, as well, and will refer to it all as the “PF” community/space for the rest of this piece.

  1. Blindness to risks in the orthodox PF investing strategy
  2. A failure to understand and account for the changing macroeconomic environment
  3. Disproportionate focus on past results
  4. General aversion to risk
  5. A collective information diet that is an echo chamber

Wealth is purchasing power. It is not a dollar number, nor is it a number on your computer screen.

Obsessively focused on increasing the dollar number in an investment account on a computer screen, the PF space almost uniformly fails to appreciate this distinction. To be fair, it is a subtle distinction, and many others struggle with it, as well.

For the PF space, the metaphor of the orange pill is painfully apt. Many of its adherents and acolytes live in the Matrix, unable to see or notice the manipulated reality constructed around them. Like Neo, who was given a choice to see the truth or remain blissfully unaware, they have a choice. And it is our job as Bitcoin writers and thinkers to help them internalize the gravity of this choice. Because real life isn’t a film. The consequences aren’t fictional.

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Logan Bolinger

Logan Bolinger

Lawyer | Author of Think Bitcoin™, a free weekly newsletter about Bitcoin