Cryptocurrency's popularity in the U.S. tied to conservative moral foundations

Obligatory fuck psypost. The most click bait, sensationalized headlines for small sample correlational studies that almost always have a divisive basis, like "democrats are better at x than republicans," or "men are better at x than women" or some shit. I got so sick of seeing it on the front page of reddit every single day because there were ten different subs reposting the same articles.

Sounds like nothing’s changed

People who invest in bitcoin aren't much better.

reverse midas-touch 🤣

Rad-lefty?

Rich people can hoard their money without the government?

How much further right can you get?

It was never a "lefty thing". It was a right wing libertarian thing from its inception, and that hasn't changed at all.

Yeah... Almost like those "moral foundations" are what you would expect of the third reich.

Probably just a coincidence, though.

Our analyses of a large set of Bitcoin tweets and a controlled survey indicate that binding moral foundations (Authority, Purity, and Loyalty) that are more closely associated with political conservatives better reflect one’s interest in cryptocurrency than individualizing foundations (Fairness and Care).”

So it's sentiment analysis of a specific community (Bitcoin). The Bitcoin community has been more libertarian and toxic than others, in my experience. But I wouldn't ascribe those attributes to the wider crypto community.

meh

But does it really surprise you? Sounds spot on to me.

It's basically properties of fascism vs egalitarianism. They're not pulling them from nothing.

That sounds like "the righteous mind" bs. It included purity as a core value.

Sounds correct to me.

And incidentally, the rampant speculation around them has rendered them mostly worthless as a currency due to the high fluctuations in price

Must not have spent much time in crypto spaces. I would say they trend along the lines of Joe Rogan fans, but they are definitely more " bro libertarian " then leftist if anything.

There are some leftists who are into crypto currencies, but by and large most of the crypto space is dominated by anti game stop bois,investors, business moguls, drug dealers and small business owners.

Not exactly a huge overlap with leftist ideals there.

Crypto bros are likely overwhelmingly libertarian since a lot of crypto bro mentality gels with that ideology, particularly that it makes currency decentralized and more controlled by private entities. Cryptocurrencies as a whole will have various aspects that may appeal to other groups, however. Like yeah, it'd be great if we could reduce the power that banks have over us, but cryptocurrency often devolves into whoever has the most coins controls everything, critically with proof of stake systems. I'm convinced that bitcoin is only as valued now because rich people (who got their riches outside of bitcoin) have controlled it and are playing games with it.

The only people currently using crypto do so in order to get rich.

Don't see many left leaning people worshipping money and throwing everyone they can under the bus in order to make capital.

I would it expect to be bi-partisan. What reasons do we have for crypto? Security, faster transaction time, independent of government (more of a global currency), taxes too high, transparency, etc.

I would consider cypher punk crypto anarchy the first left libertarian form of governance (edit: that could function on a global scale), an interesting hybrid of communism and capitalism.

Communism today is incompatible with democracy, it needs authoritarianism to have the level of control needed to redistribute all resources.

Right authoritarianism creates social hierarchies

Right libertarianism tries to be decentralized but just recreates feudalism

Left libertarianism is typically impractical. If the government doesn't have authority to tax, how can you redistribute wealth? If the government doesn't have weapons, how can it tax? If the social organization is decentralized, how do you maintain cohesion? If anarchy is rules without rules, how do you create rules without rulers?

Blockchain solves some of these problems. Maintaining an identity system is the main hurdle. In a crypto currency like Bitcoin, your private keys which prove ownership of money is your identity. But if it was just your computer was your identity, people could just spin up multiple computers and vote 10 times.

So unfortunately, the "rules of governance" are limited to network rules about the Blockchain. If you can implement a decentralized ID, you can securely automate parts of the government that have to do with things like voting or proposing policy.

Anarchists are by definition not conservative

To be fair, the currency is a collectively managed element. But currency trading is prospective investing, id est majorly doing a capitalism which is quite conservatve.

If we just bought stuff with crypto and tried to stabilize prices that would be a public-service driven effort, ergo socialist

Crypto is a pyramid scheme. It's not currency.

This is a very ignorant comment. If you aren't a troll then you need to broaden your sources because you have no idea what you're talking about.