Etymology

blue pill

Today it means: Synonym of blue mass (“pill of prepared mercury”). Full definition →

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The story

(rejection of the red pill): From a scene in the film The Matrix (1999), where the main character, who lives in a virtual world known as the Matrix, is given a choice between a red pill that will allow him to learn the truth about the Matrix and a blue pill that will return him to his simulated life.

Etymology from Wiktionary, CC BY-SA 4.0.