It's not a figment of your imagination, the washing machine does in fact eat socks. At least that's what a guy on Reddit thinks he figured it out. He created a gif showing how the sock gets under the lip of the machine and then the movement of the machine pulls the sock inside. Huh.
Now to something of science. Consumer Reports is debunking the idea that detergents need the hotter water to be more effective. Their experts say that rule no longer exists and the cold cycle is more effective at cleaning your clothes and removing stains.
If the water hits higher than 75 degrees, the detergents become less effective.and the heat may help stains dig deeper into your clothes. The hot water can also damage some fabrics. You can always check the temperature of your water on cold, warm and hot wash to see which preference is closest to 75 degrees.
To do that - fill the washer as usual when you wash your next load, but before the agitator starts check the water temperature with a thermometer. Food thermometers work best.
Now the time when you should use hot water is if you have to sanitize your clothes because of illness, bugs, or if your baby wears reusable diapers. Even then, the hot cycle may not be enough. Use bleach if you need to sanitize or place those items in boiling water. You can also use your iron to kill germs.