If someone asks me, what is the most confusing in this world. Of course, I will answer Human is the most confusing. Because They sacrificed their Health for money, then they sacrificed money for health. Humans are always busy thinking about the future, and forget to enjoy today.They think they will really live forever. Yet he will not live in the future, nor do they feel alive today.
Speak for yourself :p
It's like bitcoin, we always predict the price in the future without thinking of its function today, that makes it more seen as investments than a cryptocurrency. In fact, we are not necessarily living to see the future. What do you think ?
What if Bitcoin's function today is the price of the future? Transacting value is just one use case,
storing value another. There's nothing wrong with that.
Anyone who is in to Bitcoin and talks about it with others who are not gets a rapid schooling in how mindless the average person is.
Bitcoin at $250 'Hey, buy some Bitcoin. It'll never be this cheap again.' 'Nah. Way too expensive. I'll wait.'
Bitcoin at $19,500 - 'Hey. I just bought some Bitcoin. When does it double for me?'
It's depressing but utterly dependable which is why we have whales who command everything. They know perfectly well how the average person behaves and preys on it. That lack of logic makes the bigger picture completely logical.
One person is totally unpredictable. 100,000 of them is not.
Very true. Watching cryptos over the years I've learned a lot about people. One of the biggest lessons being, that people overvalue assets that go up in price
because they go up in price while undervaluing assets drop in price,
merely because the price dropped. Which ironically leads to the exact opposite of "buy low, sell high". Which could be avoided if people were to invest based on the merits of cryptocurrencies and their own valuations instead of focusing on the price only.
Alas, you don't only learn this about people, but also about yourself. You as a person are also prone to such irrationalities. The tricky part being not getting caught up in herd mentality and not losing sight of the big picture.
Nonetheless I'd argue that this mindlessness of the masses is also a good thing for Bitcoin. It's how Bitcoin gets attention and as many people as possible get introduced to the concept of cryptocurrencies. It's only when people don't bother learning more about the basic concepts and only care about the price that things start getting problematic. However those people learn their lessons soon enough.
