Is it just me, or are most of us actually just forgetful, greedy bastards?

[noobrik]

I wouldn't say people are forgetful. They just have recency bias:

https://bucks.blogs.nytimes.com/2012/02/13/tomorrows-market-probably-wont-look-anything-like-today/

It's fairly normal to fall for it, and the phenomenon isn't unique to crypto because it's been observed in the stock market since forever. People in crypto just tend to go crazier because the crypto market is a whole lot crazier. I can't really fault them for it, but I do like pointing it out.

Wow, there is actually even a name, a scientific name for it. Thanks for the info

[noobrik]

Whenever some one enters some economic market; his intention is to earn some profit.  But if  it  is done with prudence; experience; intelligence then the person will mostly be taking good decisions in his favour. 

But if someone enters here just because people have earned a lot or price has risen and some one gained because of  it; he will be behaving like sheep.  And falling in some difficulty is definite for him.

I can not use the word bastard for anybody.  But still the act of second entrants type is foolish.  First type of entrants are though intelligent but may suffer loss because of excessive greed.

I see what you're saying. However for what its worth, the "bastard" term is used as in "lucky bastard", just in a more negative way

[darkangel11]

The typical human being is weak minded. He/she quickly gets used to things and then switches to treating them like a standard, taking them for granted.
I do these things too. For instance back in 2016 I was so happy when BTC hit 1000 USD, but after a while I got used to the price and now If it were to fall back down to 1000 I'd feel so depressed. So, what 2 years ago made me happy would now make me sad, even though I still have the same coins that I had when they were worth 1000. Human psychology is so weird.

[noobrik]

Look at the accounts of people who are worried about the price on this forum or any other platform - most of them are not older than 6-12 months, so how can they forget something that they haven't experienced? Psychologically, looking at the historical charts is very different from experiencing those market movements. Many people become hodlers because they get accustomed to volatility and no longer care about crashes. But most newcomers don't even have any experience in investing, so going through their first bear market is very hard for them.

You really nailed it. I would have sent you some merit if I could. Thank you for this comment

[noobrik]

Most of us are, sadly, ever since bitcoin gained traction and gained momentum toawrds $19k. Almost everybody wants to get rich quickly without having the need to work for it, and so they found bitcoin thinking that the said goal would be achieved easily by buying into it. Many people are looking at cryptos as a means to get rich without actually realizing its economic importance towards the financially-oppressed demographic of the world. Many un-banked people have the chance to finally get themselves involved in a growing web of e-commerce without having the need to go to their bank and place a minimum deposit.

In our hopes of getting it big through bitcoin, we actually lost interest on what it could possibly do in terms of being your own bank and keeping your assets away from the oppressive capitalists.

This is s true. Most people have really lost sight.

[KINGCHACHA1]

The best thing to do when you feel like bitcoin is going to crash just because of a little fluctuation in price is to go back and study the price of bitcoin from five years back and see the trend of things and also study where the price of bitcoin is coming from. this will build your confidence.  Price fluctuation is it nature.

[noobrik]

I know this comes of as harsh and self loathing at the very least, but I'm gonna say it. I'm greedy, I'm forgetful and I'm probably a schmuck. Now I need you to say it with me. When I mean "you" I mean any earthling born of a woman (traditional, surrogate, or one of these innovative sci-fi ways people bear children these days) who has complained or been complaining about the current price of BITCOIN and the entire crypto market in general.

Everything you have called yourself and everyone in the same shoe is just the right thing which needs to be sounded loud, clear and harsh if need be and I am equally tired of seeing several threads talking about price speculation and lamenting about what will happen to price. There was one about how those who invested in crypto currency are currently depressed, another would be asking whether what happen in 2017 can be repeated in 2018 among several ridiculous questions.

I'm going to say this in as few words as possible, HAVE YOU FORGOTTEN BITCOIN'S PRICE IN 2009 THROUGH 2013, UP TO EVEN AS RECENT AS 2016? Also have you all forgotten the market cap, the lack of news worthiness of the blockchain in those days as compared to today? I'm not gonna do your homework for you all, google can provide good starting points to get those data.

On the average, bitcoin price has done significantly well in terms of ROI from an all time period. Even now a visit to blockchain.com with the detailed analysis showed return over 2000+% increase but because we got used to the increment that happen last year, people expect that is how its going to continue seeing threads about how its going to be $30000 in March others were even predicting $100,000 before the end of 2018.

My point is instead of us being greedy schmucks chasing and reading charts all day (except that's your day job then, well, I'm sorry you're not a schmuck), obsessing over price drops that quite frankly are orders of magnitude bigger than what it was years just a few years back. If you couldn't get in then to buy cheap, then don't blame the market for buying BTC at $20000. Be honest to yourself, whose fault is that?

The only set of people that takes the blame for every happenings in the crypto world especially bitcoin price, whether directly or indirectly are the 'whales' beliving to be the wheel behind every action forgetting the all of the mass of people involved in bitcoin all over the world looking for who exactly is the whale? People are even allowed to spend all day on charts reading it. The important thing is not to wyne about it. If you see an opportunity to turn out returns no matter how small, take it. If you see something that will make you depressed then that is your problem don't come to the forum to contaminate the mind of people seeing opportunities in every situation.

Stop all the FUDding and especially the FOMOing, relax and accept the undeniable fact that the blockchain is an amazing tech a lot of us are privileged to have seen in their lifetime, and know that value always trumps doubt any day any time. Chill and invest in value, transparency, and an actual blockchain, then forget the noise and be glad to be alive. Its a good day to be alive!

And that is the overall good news everyone needs to take as consolation that in situations where you want to get emotional about situation of things as your investment not going the way its being planned, chill, you are not the only one and what you are holding has been proven times without number to stand the test of time.

S L O W  C L A P ! ! ! Thank you

[noobrik]

relax and accept the undeniable fact that the blockchain is an amazing tech a lot of us are privileged to have seen in their lifetime

Yeah yeah, all that sounds pretty but, let's be honest, people no longer care about the tech behind X or Y project, it's all about which project/token/coin will x5 or x10 soon. it's unfortunate, but that's the dynamic of the market. I believe one of the reasons why the altcoin buble popped recently was because a lot of people finally realized that they were pouring money on shitcoins for the sole promise of a quick buck and big ROI.

Let's see if this dynamic changes after this bear market, though I don't expect much.

I really dont think "it just sounds pretty". Its true. Now if people decide to invest in shitcoins and only care about 10X returns, that doesn't really affect the real projects out there. It just means a bunch of people are gonna get burnt sooner than later.

[jwcastle]

LOL I think just about anyone who invests in crypto currency is a greedy bastard. Think about it. It's virtual currency. Nothing physical. It's not like a bar of gold or silver that you can actually hold. Now there are some people who invest in crypto because they think the idea of a non-centralized blockchain and virtual currency is a good one. And that might actually be true. But the rest are just greedy bastards. This can be proven by the wild swings in Bitcoin prices.

[noobrik]

comparing bitcoin price back in 2009 and now is very unconvincing . it's like apple and oranges ! people who invested back then are already millionaires now and don't complain , the problem is the majority of people who have just heard about cryptocurrency in 2017 and a lot of them invested in high prices and since then they are seeing only bearish trend ! i know some people who are dept now because of that trend  so don't generalize your talk .

My point is if you study the historical data, then you know there have been bulls and bears along the ride, albeit with an upward trend. Also there always gonna be people who will buy at the highest price no matter how many time they hear Warren Buffet say "Be fearful when everyone is greedy and greedy when everyone is fearful". Of course you still need to do your homework, but how many people care to do any research, or even bother to read the research others have done. I really cant remember a name, but earlier this year during the crypto highs, while a lot of people were speculating that BTC will get to $50k before the end of year, some other intelligent people still predicted a long bear season. Now who do you think the uninformed and lazy masses listened to?

[noobrik]

I think that you can't say such things about everyone because really i m not greedy  like many traders. As for me, I have many ways to earn money and this one for me is just a hobby and a way to have some additional income

I'm not talking to anybody specifically, I'm not also talking to everybody. I said "MOST"!

[noobrik]

LOL I think just about anyone who invests in crypto currency is a greedy bastard. Think about it. It's virtual currency. Nothing physical. It's not like a bar of gold or silver that you can actually hold. Now there are some people who invest in crypto because they think the idea of a non-centralized blockchain and virtual currency is a good one. And that might actually be true. But the rest are just greedy bastards. This can be proven by the wild swings in Bitcoin prices.

good one!

[thankyoulord]

majorirty of humans ae just naturally greedy. they don't care about what happened years ago,they only care about what they stand to gain at the present moment. That is why so many persons spend hours looking at price chart and creating fud whenever price drops a little. the greed to make excess wealth is all that matters to many investors

[noobrik]

majorirty of humans ae just naturally greedy. they don't care about what happened years ago,they only care about what they stand to gain at the present moment. That is why so many persons spend hours looking at price chart and creating fud whenever price drops a little. the greed to make excess wealth is all that matters to many investors

I hear you!!!

[Psalms23]

Well Im not sure if Im greedy but really Im worried about these drop in the prices in the market. And I cant really say I forgot because I was just new to crypto about a ear only. But if the veterans here say that the dip is temporary and normal, then i ll have to believe it.

[noobrik]

Well Im not sure if Im greedy but really Im worried about these drop in the prices in the market. And I cant really say I forgot because I was just new to crypto about a ear only. But if the veterans here say that the dip is temporary and normal, then i ll have to believe it.

Everything is temporary in crypto, whether its an all time high or low prices. So this too shall pass

[Kimskie12]

Well i guess we are all the same, as the saying says even if how white the bond paper is sometimes we all just notice the small dot on it. Even how good the achievements and accomplishments of bitcoin after its coming back in 2013 and even if the price was so high in 2017 still the negative and disadvantages we all see, for me its normal no need to worry just be wise.

[BrewMaster]

Look at the accounts of people who are worried about the price on this forum or any other platform - most of them are not older than 6-12 months, so how can they forget something that they haven't experienced? Psychologically, looking at the historical charts is very different from experiencing those market movements. Many people become hodlers because they get accustomed to volatility and no longer care about crashes. But most newcomers don't even have any experience in investing, so going through their first bear market is very hard for them.

to be fair majority of those accounts are throwaway accounts that belong to certain people who have been spreading FUD on bitcointalk for a very long time. probably from early days (like kuwakduck for example). they try their best to increase the fear by putting wood in the fire that is already burning so that they can buy bitcoin at the bottom or short it and make a little more money.

i should also mention that you become a holder when you don't want to be a trader. it doesn't have to be because you are accustomed to volatility. being a trader is time consuming, hard and thanks to shitty exchanges that get hacked or go down during rises/falls is risky.

[Ikpirijor7]

You can't point the finger at them. Some of them purchased at 18k$ so it must be rationally exhausting for then to hold this time. I trust however that they understand that this dump is simply brief and will recoup soon.

[LogitechMouse]

My point is instead of us being greedy schmucks chasing and reading charts all day (except that's your day job then, well, I'm sorry you're not a schmuck), obsessing over price drops that quite frankly are orders of magnitude bigger than what it was years just a few years back. If you couldn't get in then to buy cheap, then don't blame the market for buying BTC at $20000. Be honest to yourself, whose fault is that?

You can't blame those who bought BTC at its peak for being a greedy schmuck like you said. Most people especially newbies who bought bitcoin at the top will either wait for another spike of bitcoin or will average out.

Stop all the FUDding and especially the FOMOing, relax and accept the undeniable fact that the blockchain is an amazing tech a lot of us are privileged to have seen in their lifetime, and know that value always trumps doubt any day any time. Chill and invest in value, transparency, and an actual blockchain, then forget the noise and be glad to be alive. Its a good day to be alive!

Blockchain is an amazing tech indeed but unfortunately, many people don't see this amazing things of blockchain because many people see bitcoin as a way to get a profit. We can't control them if they see it as it is. As an pro investor, we must think this concept in a long run. We must think that this technology can help us in the future. We must not see this technology as a quick rich scheme.