This article was inspired by a news tip from a Bugle reader
A ground breaking study by the University of Chicago has revealed that 99% of individuals prefer to use money that steals from them and makes them poor. The study asked individuals a series of questions regarding their preferences around inflation, and government surveillance. Ultimately, the researchers concluded that 99% of participants did not like the idea of using a money that appreciates in purchasing power over time, can be used privately, allows them to route around the banking system, is censorship resistant, and allows them to move massive amounts of money quickly and seamlessly. Instead, the majority of participants stated they preferred money that was surveilled, can be censored, will likely be tied to a social credit system, and rapidly depreciates in value.
Researchers hypothesized that many participants responses were influenced by their complete lack of financial literacy, but also demoralization by television and public education. Further on in the study, they began comparing fiat currencies to each other, and many individuals said they would prefer to use Venezuelan Bolivars over the US dollar because that was the quickest way to become a millionaire. Other studies have shown that individuals have chosen to purchase shitcoins over Bitcoin for very similar reasons. One participant was quoted saying, "The more units of something I have the better right? I just want to have billions of something, if not trillions. The people in Venezeula are way richer than Americans because they have so much of their currency. I've never been able to fill a wheel barrel full of dollars to go grocery shopping."
Another participant was quoted saying, "I get all my opinions on economics from the TV and also hear the dollar is best. Inflation is being caused by businesses raising their prices because they are greedy. Anyone who says anything about inflation is probably just a Republican anyways and Republicans are terrorists because of January 6th." A small group of individuals within the study talked about how they preferred gold because it has been around longer than dollars, but still liked it because of how much it underperformed inflation over the past 50 years.
One of the researchers pointed out that the participants showed a complete inability to comprehend basic math, which likely explained why society was thrown into upheaval over a virus that had a 99% survival rate. Fortunately, schools around the country are discontinuing math programs in an attempt to make sure that it happens again.
One thing clear from this ground breaking study is that the small amount of people using Bitcoin are likely to get really rich because no matter how obvious it becomes that it is better money, the majority of people are struggling to change their preferences in order to use it. Whether they ever will or not is unknown at this time.