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Unfortunately a huge amount of crypto hinges on "disproving FUD", but so often it is true. There is only one place where FUD is applied where it shouldn't: the
by bowsamic 4y ago
Unfortunately a huge amount of crypto hinges on "disproving FUD", but so often it is true.
There is only one place where FUD is applied where it shouldn't: the FOMO of missing a bullish trend, and this FUD causes people to invest their entire life savings into crypto. I spent some time on a major crypto currency Discord, and the number of people I spoke to who have gone "all in" on crypto is actually astounding. Just no sense of risk aversion.
People fear missing an opportunity to make money far more than they fear losing their money. Guess which happens? Then afterwards they realise the mistake they've made, and the suicide hotline numbers come out...
- bryananderson 4y ago> People fear missing an opportunity to make money far more than they fear losing their money. This trend is a fantastic lesson in why evolution has (generally speaking) settled on a bias toward loss aversion.
- bowsamic 4y agoSomehow for a lot of people that bias does not extend to abstract financial investments