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I wrote about what I see as the difference between gambling and investing in a prior comment, if of interest. But I am genuinely much more curious around the h

I wrote about what I see as the difference between gambling and investing in a prior comment, if of interest. But I am genuinely much more curious around the human psyche in situations like these, and I'm seeking your thoughts if you would be kind enough to offer them since I think we are on different sides on this on, in this specific instance. My experience with the human species is that they generally err on the side of compassion, vs. judgement, but less so in this case. If you could share your thoughts on what might drive the latter rather than former in this case, that would be highly appreciated. On a personal note, and as I was clear to point out in the parent comment, I am not looking for any sympathy here, I'm a grown man and I am adept at handling adversity. But nor am I necessarily looking for vitriol unless there is a good reason for it. Your thoughts on this topic are appreciated.

ddorian43 4y ago
> My experience with the human species is that they generally err on the side of compassion I don't think extreme levels of greed deserves compassion. It's been more than 10+years. I can't have compassion for 20 years. People get tired man and don't care anymore and actually hope for the worst (but don't say it).
- ftxbagholder123 4y ago
  Interesting. So it may be your view of this constituting an extreme level of greed that drives your sentiment in this case. That makes more sense to me, though we clearly differ in our assessment of "extreme" and "greed". Out of curiosity, would you then apply the same logic to people investing in SPAC's, growth stocks at extreme valuation levels, triple leveraged ETF's, doubling down on NKLA when their trucks are shown to roll down hills, etc.? Or is it strictly confined to crypto? To me, these are all different manifestations of the same thing -- a decade of easy money, enabled by flawed monetary policy. An investor in my view can still be rational (not greedy) while still taking interest in such opportunities. Also, what if this were only 5% of my portfolio (I'm not disclosing the actual %'age, but consider the 5% for argument's sake), would you still consider it an extreme level of greed? I have my own views of what constitutes extreme greed, but that tends to have more to do with how certain individuals (in this case FTX's executives, but can also be applied obvious scams like OneCoin, and many other scenarios) illegally enrich themselves by exploiting regular people. That, to me, is true extreme greed. Either way, I think your response is interesting and I appreciate the extra color.
  - ddorian43 4y ago
    > investing in SPAC's, growth stocks at extreme valuation levels, triple leveraged ETF's, doubling down on NKLA when their trucks are shown to roll down hills, etc.? Yes. I invest in leveraged etfs. You can't compare NKLA/crypto/SPACs with UPRO for example. > would you still consider it an extreme level of greed? I consider the whole crypto ecosystem. I mined bitcoin for some time when it was $300 and thought it was full ponzi even then.

ddorian43 4y ago

> My experience with the human species is that they generally err on the side of compassion I don't think extreme levels of greed deserves compassion. It's been more than 10+years. I can't have compassion for 20 years. People get tired man and don't care anymore and actually hope for the worst (but don't say it).

ftxbagholder123 4y ago
Interesting. So it may be your view of this constituting an extreme level of greed that drives your sentiment in this case. That makes more sense to me, though we clearly differ in our assessment of "extreme" and "greed". Out of curiosity, would you then apply the same logic to people investing in SPAC's, growth stocks at extreme valuation levels, triple leveraged ETF's, doubling down on NKLA when their trucks are shown to roll down hills, etc.? Or is it strictly confined to crypto? To me, these are all different manifestations of the same thing -- a decade of easy money, enabled by flawed monetary policy. An investor in my view can still be rational (not greedy) while still taking interest in such opportunities. Also, what if this were only 5% of my portfolio (I'm not disclosing the actual %'age, but consider the 5% for argument's sake), would you still consider it an extreme level of greed? I have my own views of what constitutes extreme greed, but that tends to have more to do with how certain individuals (in this case FTX's executives, but can also be applied obvious scams like OneCoin, and many other scenarios) illegally enrich themselves by exploiting regular people. That, to me, is true extreme greed. Either way, I think your response is interesting and I appreciate the extra color.
- ddorian43 4y ago
  > investing in SPAC's, growth stocks at extreme valuation levels, triple leveraged ETF's, doubling down on NKLA when their trucks are shown to roll down hills, etc.? Yes. I invest in leveraged etfs. You can't compare NKLA/crypto/SPACs with UPRO for example. > would you still consider it an extreme level of greed? I consider the whole crypto ecosystem. I mined bitcoin for some time when it was $300 and thought it was full ponzi even then.