Fiatsplaining is the act of reflexively repeating pedantic Keynesian truisms when the topic of Bitcoin is brought up. Usually employed by “nocoiners“, dimwitted MBAs, mainstream Economists, and bloodsucking politicians, Fiatsplainers lack even a basic understanding of Cryptocurrency, Sound Money, Austrian Economics and Computer Science. Because they’ve benefitted tremendously from the present corrupt financial system, Fiatsplainers frequently lash out and bury their head in the sand rather than honestly question the economic dogmas indoctrinated into them at “elite” schools. They’ve almost always benefitted monetarily and professionally for blindly repeating their indoctrinations because, alas, “it is difficult to get a man to understand something when his salary depends on his not understanding it (Upton Sinclair).”
Fiatsplainers typically despise Critical Thinking and prefer to instead procure nearly all of their opinions from the New York Times. Intellectual Integrity and Philosophical Consistency matter little to fiatsplainers; they lack the ability to form original thoughts, objectively consider the externalities of our current financial system, and consistently become enraged by the continued success of bitcoin. The most common phrases used to fiatsplain include: “bitcoin has no intrinsic value", "it’s just too volatile”, “the government is going to ban it”, and “Hillary Clinton is the most qualified presidential candidate of all time”.
Fiatsplainers typically despise Critical Thinking and prefer to instead procure nearly all of their opinions from the New York Times. Intellectual Integrity and Philosophical Consistency matter little to fiatsplainers; they lack the ability to form original thoughts, objectively consider the externalities of our current financial system, and consistently become enraged by the continued success of bitcoin. The most common phrases used to fiatsplain include: “bitcoin has no intrinsic value", "it’s just too volatile”, “the government is going to ban it”, and “Hillary Clinton is the most qualified presidential candidate of all time”.
Krugman’s numerous ignorant, fiatsplaining articles will be looked back on with as much ridicule as his prediction that “by 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”
by actoncrypto December 30, 2017
A portmanteau of the words “fiat” and “explain”, where a fiat proponent (typically a nocoiner) explains economic principles to Bitcoiners in a condescending way, without regard to the Bitcoiner being more experienced with the subject in the first place.
The worst thing about finance twitter is how they keep trying to fiatsplain Keynesian Economics to us. Sometimes I wonder if nocoiners understand that the modern economy was designed to systemically oppress consumers.
by isomoto January 1, 2018