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People buy crypto in hopes of getting rich. The "revolution" story is what people tell themselves to morally justify getting rich off the money of later buyers
by qgin 4y ago
People buy crypto in hopes of getting rich.
The "revolution" story is what people tell themselves to morally justify getting rich off the money of later buyers.
- ckastner 4y ago> People buy crypto in hopes of getting rich. That is the key. People will believe anything if it helps them believe they'll get rich quick, whether it's that crypto is revolutionary, or that tulip prices can only go up.
- Scoundreller 4y agoI’d say that’s why they hold crypto. Many more buy and don’t hold very long at all, to buy things where the seller may also not hold very long at all.
- robocat 4y agoA few people do get rich with crypto (without even cheating). The startup ecosystem is very similar: the large majority of founders and many employees[1] don’t win. A few win very nicely thank you very much. [1] eg https://news.ycombinator.com/item?id=31595393 https://news.ycombinator.com/item?id=31595393