Part 5/9:
Livingston suspects that the visceral skepticism towards Bitcoin arises from a deeply rooted trauma—a defensive mechanism against the painful truths of economic manipulation. He argues that many people struggle to comprehend a system that operates outside of their learned beliefs. The fear of the unknown manifests as backlash against Bitcoin, seen as a threat to a comfortable yet flawed status quo.
When confronted with Bitcoin’s potential to disrupt this long-standing system, critics often resort to labeling it a scam, avoiding the uncomfortable reality that their entire financial life may be built on falsehoods. As they grapple with the possibility of being wrong about their trust in traditional finance, their emotional responses obscure logical reasoning.