I have a life long interest in the phenomena where someone makes mistake after mistake, yet they retain 100% confidence in their decision making process. The te

I have a life long interest in the phenomena where someone makes mistake after mistake, yet they retain 100% confidence in their decision making process. The terrible results of their previous mistakes never dent their certainty that they are smarter than others. And this maladaptive process, which I've noticed in certain individuals, now seems to play out in group-based way, among enthusiasts of cryptocurrency. It is curious that, at this point, political science offers decades of careful study of different kinds of voting systems, their strengths and weaknesses, as well as game-theory models to help with scenario planning for contingencies and pathological cases, and yet, instead of working all of this out in a simulation, crypto enthusiasts prefer to run these experiments using real money, often millions of dollars. This is simply irrational, in a straightforward way. One has to assume some kind of gambling addiction has taken hold among these people, since gambling addicts are the only group we know of who demonstrate this particular kind of irrationality. Or are we looking at some new kind of mental pathology?