Bitcoin Group Bias Illusion Authority

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When the Highest Paid Person Opinion (HIPPO) is never questioned — ignorelimits.com

As discussed in the previous article on biases, we can understand some of the misconceptions around Bitcoin by looking at different cognitive biases and their effect on people’s understanding of bitcoin the asset and Bitcoin the network.

“A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Individuals create their own “subjective reality” from their perception of the input. An individual’s construction of reality, not the objective input, may dictate their behavior in the worl​d.” –Wikipedia

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