Bitcoin Forum

First it was HODL - Hold on for Dear Life

Now it is FOMO - Fear Of Missing Out


Are people acting on emotion rather than logic?

Not everybody but I would say a vast majority of those in the crypto market yes they operate on emotion and that is why you have more losers than winners in the market. You gotta control your emotion if you want any chance at winning.

So correct, after hodling so many alts in this latest BTC run, I get antsy and want to juggle and sell for not much profit. Then I look at all the dash I once had which went up about 60x from last year. Holding takes serious discipline, especially when every co-worker is talkin' BTC (and IOTA and whatever).

Bought BTC at the top several times this past year, all turned out well. HODL

1st post hi everyone  :) Thanks for all the help and discussion in here. CHEERS

I think you’re right all of a sudden it does seem like that. With that all of a sudden being covered by the press I think for a while at least people are serious and want to get in on it.

Janet Yellen was asked about it twice today during her final fed meeting. She did say people may lose a lot of money but it does not pose a threat to the financial structure at this point

HODL is a meme, maybe you are a little bit outdated out here. But yes, a lot of people are just holding because they are hearing the same word once & once again, hundreds of times a day.


Not fomo, but you should know that now that everybody wants to earn money, they all are going to be introducing themselves into bitcoin. And there is nothing new with this.

If you just join a way to make money easily, wouldn't you try to learn? that is why most people are just investing, and they do not even know in what the hell are they investing, like 60% of people in here.

It doesn't pose a threat to the financial structure at this point due to all the FUD and misinformation that the mainstream media puts out to the masses concerning BTC and other cryptos. The ignorant don't know the scope of how blockchain is changing our lives and how the cryptocurrencies are facilitating that. Banks and Governments classify cryptos as commodities and play that tune to the institutional investors hoping they won't see cryptocurrencies for what they are, and evolution of fiat currency which will make fiat obsolete.

People, turn on your brains!  A newbie prolific poster self-styled “ShortCoins” (get it?) is spamming FUD threads (https://bitcointalk.org/index.php?action=profile;threads;u=1406678;sa=showPosts) at an amazing rate.  Each devoid of substance, but dripping breathless, hyped-up worry.  Each replete with cute emoji in the subject line, to draw the fools.  What do you think the game is here?

Mr. “Shortcoins”, please enjoy my canned response to you and all your kind:

Fear Of Missing Out is a real concept.

This is not FUD

We can't blame most of  crypto enthusiasts to be like this for we are just humans and it takes time and discipline to be that cold hearted and strong hands when it comes to our coins. We can see that prices of bitcoin and altcoins are surging, thanks to those emotions that this traders have. All of the good news and hypes can make us buy and all that bad news and fuds can make us sell, these things if you mastered correctly can be a weapon from your arsenal than you can surely use to attain success in this business or for others their passion.

Oh, how cute:  It talks back!  It even knows how to throw back that “X is real!” without connecting X to Y, or to anything I said.

How much are you being paid for your spew?  FUD is this (https://bitcointalk.org/index.php?action=profile;threads;u=1406678;sa=showPosts)—observe the timestamps, too:

2017-12-14 00:55:46	✨✨✨ FOMO: Fear Of Missing Out Is Driving Bitcoin Prices ✨✨✨ (https://bitcointalk.org/index.php?topic=2580232.msg26281046#msg26281046)
2017-12-14 00:24:28	☃☃☃ Is Bitcoin An Empty Promise? ☃☃☃ (https://bitcointalk.org/index.php?topic=2580169.msg26280138#msg26280138)
2017-12-13 01:13:43	☠☠☠ Will High Transaction Fees Be The Downfall Of Bitcoin? ☠☠☠ (https://bitcointalk.org/index.php?topic=2575806.msg26233856#msg26233856)
2017-12-13 00:29:56	✨✨✨ Minimum Investment Size For BTC ✨✨✨ (https://bitcointalk.org/index.php?topic=2575723.msg26232832#msg26232832) (“I no longer see investments under 0.1BTC being that practical because of fees.”)
2017-12-13 00:00:31	☠☠☠ Andreas Antonopoulos, Bitcoin Messiah, is a Fraud ☠☠☠ (https://bitcointalk.org/index.php?topic=2575552.msg26232079#msg26232079)
2017-12-12 23:46:36	☃☃☃ The Most Important Question About Bitcoin ☃☃☃ (https://bitcointalk.org/index.php?topic=2575343.msg26231624#msg26231624) (“Everyone is too focused on when to buy. Waiting for dips to enter into the market.  That is great, but the much more important question is:  When to sell bitcoin?” (boldface in original))
2017-12-12 03:12:26	⛔️⛔️⛔️ Using a Stop-Loss for BTC Investments ⛔️⛔️⛔️ (https://bitcointalk.org/index.php?topic=2569872.msg26175267#msg26175267) (“What if bitcoin crashed 80% would you still hold on?”)
2017-12-12 01:09:21	✈✈✈ How High Will Bitcoin Fees Get? ✈✈✈ (https://bitcointalk.org/index.php?topic=2569523.msg26172058#msg26172058) (“Bitcoin fees are skyrocketing!!!”)
2017-12-12 00:37:10	☘☘☘ Futures Will Increase The Volatility Of Bitcoin ☘☘☘ (https://bitcointalk.org/index.php?topic=2569462.msg26171321#msg26171321)
2017-12-12 00:22:19	✨✨✨ How expensive will the last bitcoins be to mine? ✨✨✨ (https://bitcointalk.org/index.php?topic=2569428.msg26171005#msg26171005)
2017-12-11 23:44:12	⚠⚠⚠ Bitcoin is like the lottery combined with religion ⚠⚠⚠ (https://bitcointalk.org/index.php?topic=2569364.msg26170025#msg26170025)
2017-12-11 23:28:01	☠☠☠ Is Politics A Threat To Bitcoin Success? ☠☠☠ (https://bitcointalk.org/index.php?topic=2569317.msg26169564#msg26169564)
2017-12-11 22:57:03	☃☃☃ The .01 Theory ☃☃☃ (https://bitcointalk.org/index.php?topic=2569118.msg26168638#msg26168638) (“Most people own less than .01 BTC […] My theory is the fees will become so high that most people will just hold onto their BTC rather than sell.”)
2017-12-11 21:56:11	✨✨✨ Are we wasting resources to make digital currencies? ✨✨✨ (https://bitcointalk.org/index.php?topic=2568606.msg26166433#msg26166433)
2017-12-11 21:09:24	♨♨♨ Top 10 Reasons To Sell Bitcoin Now ♨♨♨ (https://bitcointalk.org/index.php?topic=2568350.msg26164514#msg26164514) (“PLEASE DONT Spam the board with anything except reasons to SELL BITCOIN. There are other threads for that” (red colour in original))
2017-12-11 07:10:45	♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨ (https://bitcointalk.org/index.php?topic=2564843.msg26122760#msg26122760)
2017-12-10 06:49:41	♨♨♨ Is Bitcoin A Giant Ponzi Scheme?♨♨♨ (https://bitcointalk.org/index.php?topic=2558610.msg26065441#msg26065441)
2017-12-10 04:23:20	⛔️⛔️⛔️ Is It Time To Cash Out The Profits? ⛔️⛔️⛔️ (https://bitcointalk.org/index.php?topic=2557978.msg26061564#msg26061564)
2017-12-10 03:55:22	♨♨♨ Bitcoin DOWN OVER 16% today!! ♨♨♨ (https://bitcointalk.org/index.php?topic=2557907.msg26060914#msg26060914)
2017-12-10 01:24:13	♨♨♨ Bitcoin DOWN OVER 15% today!! ♨♨♨ (https://bitcointalk.org/index.php?topic=2557455.msg26057367#msg26057367)
2017-12-10 00:29:54	♨♨♨ Bitcoin DOWN OVER 10% Today!! ♨♨♨ (https://bitcointalk.org/index.php?topic=2557014.msg26056104#msg26056104)
2017-12-09 23:16:17	⛔️⛔️⛔️ Is The Current Price Of Bitcoin Practical? ⛔️⛔️⛔️ (https://bitcointalk.org/index.php?topic=2556304.msg26054032#msg26054032) (“I think a niche group (first 1% of population) who see the vision and the future of crypto have artificially driven this price up so high that it isn't likely the remaining population of the world will buy into it (at the current levels).”)
2017-12-09 21:34:26	✨✨✨ Time To SHORT For Massive Profits!! ✨✨✨ (https://bitcointalk.org/index.php?topic=2555838.msg26050819#msg26050819)

Honestly, many people are into cryptocurrency using nothing but the herd mentality...when many people are getting into something it can attract others to also do the same thing. This is human nature and there is only one thing we can do about it and that is helping people to be educated with cryptocurrency and the attendant risks involved. Still, it is their money and at the end it is their own decision that would be important. We are now under heavy speculation though this has been one feature of cryptocurrency ever since it was born years ago...more of a gamble because by then nobody can be sure where was this fledgling industry was going. Now, that it is almost reaching the mainstream population, we should be expecting more and more people to enter something that has the potential to create some fortune. This is the very reason why many analysts are calling people to be careful because they have seen the same history repeating itself regarding the boom-and-bust cycle that affected many industries in the past. We are just hoping that cryptocurrency specifically Bitcoin can be a very different animal. Investment is always a mix of logic and emotion since we are not yet robots. I am banking on Bitcoin's resiliency and capacity to be truly different.

While he is starting a lot of threads, most of what he is saying is pretty factual. You just fail to read it and see it for what it plainly is.

I'm afraid that it's true at some point. More people right are trying to get themselves some bitcoins because it is the current trend. It's like when you are in school and someone famous in your class purchased a new pair of shoes so everybody else bought the same shoes for them to look cool. It's saddening but it's true that people who are new in btc right now are just like that. They heard that it's new and is about to go mainstream that's why they bought some so that when someone they know are talking about it they can say that they too have btc even without any knowledge about it. And those very people will be the weakness of this community because they will be the first ones to dump btc when something bad happen especially some corrections which for some of us are normal. I hope they will be enlightened and see the real purpose and value of btc in the future and not act emotionally.

CAYAMTB.

(chances are, you already missed the boat)

 

When is come to money majority of people are emotional when it comes to making profit or losing some profit when they have the chance but just look the other way, only a few people are logical enough to understand what are the consequence of what they did.

exactly when btc price zoom out to 10k level many think to profit taking hoping btc price would have correction and can buy back at lower level but price may not goes what they seem and continue to run up to even 18k level so those who sell at 8-10k level buy back at much higher prices

I like to spread my fud over a lightly  toasted audiance , with a heavy sprinkle of FOMO, very engoyable ..bahhahahahahhahaa

Its largely true for those who are new to it. And it will only increase.

yes YOU are acting on emotions when you panic sold your bitcoin and also when you tried to short bitcoin while the price was rising.
you should have stopped listening to the spamming FUD that was going around telling you what to do and calling the downfall of bitcoin. this is a well known tactic that only affects newbies like you who will lose money when they fall for it.

the solution is to simply stop being gullible ;)

I agree strongly with this when it comes to bitcoin. With the price having skyrocketed from $0.003 to $17,000 USD chances are that you already missed the boat in terms of tremendous profits. But because of FOMO (fear of missing out) people are coming in and buying bitcoin for very expensive prices simply because so many other people have made money off it. I think FOMO is one of the driving forces right now for bitcoin prices

It is true that after the bull rally of Bitcoin
in 2017 with each day new ATH, most of
the people are buying due to FOMO and the
same goes for other cryptocurrencies.

Cryptocurrency is even now mostly speculative
in nature with only a few people with proper
analysis and knowledge of what it is.

Bitcoin is not the only coin that is being driven by FOMO. If you look at Coinmarketcap you see multiple coins in the top 100 rising over 50% a day.

I just passed away from FOMO because i have managed to gather a decent amount of btc to be at least on the back of the train :D. But i can tell you for sure that FOMO is real, i could even sleep and all i could pray for was that BTC price wont rise until i collect some more satoshi.