I’ve been wondering. Of course, there’s different explanations to this.
Ontological security
Our everyday life consists of interactions that is in accordance with social conventions. Through agents production and reproduction of social practices, they become a part of the ‘taken for granted’ reality. They are embedded on the unconscious and the practical consciousness of the individual. This is where the predictability factor of social interactions comes from.
My current, totally predictable routine
https://gph.is/1Q8H39L
Ontological security is a sense of trust (in its special sense) in that predictability. This is needed in order for individuals to go on in day-to-day life.It essentially brackets existential questions (death, meaninglessness,evil) so that we may focus on certain aspects of actions. In short, It enables us to go in our everyday life and interact with other social beings without the fear of chaos (FUD hehe). It is the trust in the order and continuity in life.
Crypto and ontological security
People were skeptical in adopting the internet when it first emerged. Some crazy asshats were willing to take the risk though. Why were people skeptical in the first place?
Well, it’s because it’s a new structure. A structure that would revolutionize and rewrite the present established conventions. It has its own set of rules and it also has its own substructures that are continuously evolving. People would not be that receptive on new structures.
Now, we could argue that even the concept of ontological security would evolve along with the structures. I’ve seen people throw a fit when they can’t get internet access for a day. They feel that life is in a halt. Anxiety emerges. Chaos ensues. This just proves how the structure is deep within our practical consciousness. But that's just one interpretation of the concept.
https://onsizzle.com/i/internet-instagram-there-is-no-life-82066
Crypto adopters and investors now could be seen as synonymous with the crazy asshats of the dot-com bubble. The blockchain technology is a new structure in its own. If it achieves mass adoption, it would then revolutionize and alter the existing social conventions. Just like how the internet did. The technology has its own language, existing conventions, ways of social interaction, etc.
The thing is, for the ordinary human being, a change in the social convention might crash the wall and push the existential questions into his consciousness. The unfamiliarity of the structure is exactly the reason for the reluctancy. The simple way of having cryptographic algorithms on one’s wallet is hard enough to familiarize individuals with. This is in contrast with the present financial structures (i.e banks and credit cards).
But that is how social structures are made. It would depend upon the ability of the adopters to include it in their day-to-day life. The ability of a structure to persist through time would depend upon its constant role in the life of individuals. And their resistance to societal, structural, and outside constraints.
https://www.pinterest.ph/pin/543035667541428601/