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I think a lot has to do with FOMO and their egos. Kids these days are constantly chasing what's new and trendy. Everybody wants to cash in on the 10, 20, 30 or

I think a lot has to do with FOMO and their egos. Kids these days are constantly chasing what's new and trendy. Everybody wants to cash in on the 10, 20, 30 or 50x return. They want to tell their friends how much they made, and how "well" they are actually doing in life (when all they have is tokens/coins that may be worth nothing). You see this in social media, and this isn't that different from it.

GVIrish 9y ago
FOMO is not exclusive to young adults or teenagers. I would wager FOMO is probably one of the most powerful basic human impulses. It's why people ran out and bought houses they couldn't afford in the housing bubble, it's why it's difficult for gamblers to walk away from the table when they're up, and it's also why people have a hard time withdrawing their money from the market when a correction is near. It's also behind every ponzi scheme. No one wants to give up those enticing gains that they see other people getting. Fear of missing out is at that powerful nexus of envy and greed that short circuits rational thought.