Why the yuppie elite dismiss bitcoin

This theory makes sense.

Some of the smartest people in the world both love cryptob (Naval) and despise it (Warren Buffet). Who's right?

Well, it has nothing to do with theory on facts and everything to do with how much they trust the system.

Great theory and article.

This is gold: "Yuppies believe they are the people in the know. Bitcoin is for people not in the know."

"Dan" in this article is meant to be this genius - yet he didn't buy bitcoin for half a dozen years. Meanwhile, "average" people bought plenty of it and made 10x what Dan will earn a year. Obviously, Dan is angry at cryptocurrency because it's reminded him that he isn't that smart after all. In fact, he's a dinosaur following the status quo and this conservatism is what's caused him to miss the largest financial revolution in history.

People in the conventional financial and business world are scared of crypto because it's the future and they represent the past. Kid in 20 years from now aren't going to be enamored with Warren Buffet, they are going to be enamored with Satoshi.

With Bitcoin, people can lend it to one another in a decentralized way, and they don't need financiers to middleman the process. These financiers see the potential of decentralized finance and it probably terrifies them. The people are finally waking up.