- They are so distracted by the elegance of a new technology for...

- They are so distracted by the elegance of a new technology for validating the transfer of title to assets (Blockchain) that they forgot to look at what the underlying assets were.

- When they did ask what the underlying assets were, and were told that it was a new currency, they understood so little about what a currency is, that they couldn't tell that this new asset wasn't a currency at all.

- Confidence in governments and financial institutions has eroded to such a degree that people will accept anything that is subversive to governments and financial institutions, regardless of whether it makes sense or not.