The Great Crypto Grift May Be Unwinding
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The Great Crypto Grift May Be Unwinding
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Re: The Great Crypto Grift May Be Unwinding
#2Crypto will come back again.
The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing - I found myself constantly checking prices and devoting huge amounts of thought to it - I even wrote a crypto trading bot to analyse strategies. If you know anyone into crypto you would know they talk about it non stop.
There are HUGE numbers of people who's brains are deeply involved with crypto. They'll be back for more.
Crypto had a big crash only recently - about 12 to 18 months ago I think, when Elon Musk made some comments that crashed the market. That crash was rapidly forgotten and people piled back in. Same thing will happen here.
Logic is not the driver of people's behavior.
Crypto is essentially legal, consensual large scale ponzi scheme participation - if you understand that then you might be able to win big.
Re: The Great Crypto Grift May Be Unwinding
#3> On Monday, the Financial Times published an interview with Sam Bankman-Fried, the founder of the FTX crypto-trading exchange, in which he said bitcoin doesn’t have a future as a means of payment because it is too complicated and environmentally costly.
Re: The Great Crypto Grift May Be Unwinding
#4No post body was provided.
Re: The Great Crypto Grift May Be Unwinding
#5Crypto will come back again. The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing - I found myself constantly checking prices and devoting huge amounts of thought to it - I even wrote a crypto trading bot to analyse strategies. If you know anyone into crypto you would…
Only thing that revived crypto was all the free biden-bucks they printed. Free cash needs somewhere to go.
Re: The Great Crypto Grift May Be Unwinding
#6Crypto will come back again. The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing - I found myself constantly checking prices and devoting huge amounts of thought to it - I even wrote a crypto trading bot to analyse strategies. If you know anyone into crypto you would…
Crypto shills have always just sat in the background out of mind for a while before they come out with their next rebrand of the same scam. NFTs and Web3 have had their moment and likely collected a fortune, now they have to come up with the next branding. For some reason the general public doesn't learn.
The most amusing part is how the general public instinctively reacted to NFTs as thinking they were a scam, but they had so much news coverage and big numbers behind them that it became an Emperor has no clothes situation where it can't be a scam because too many people are agreeing with it. Only for it all to unravel and the public opinion returning to its just a scam.
Re: The Great Crypto Grift May Be Unwinding
#7Crypto will come back again. The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing - I found myself constantly checking prices and devoting huge amounts of thought to it - I even wrote a crypto trading bot to analyse strategies. If you know anyone into crypto you would…
> Logic is not the driver of people's behavior.
I think people are more rational than you give them credit, but, yes, emotion often informs and overrides our logic. Feelings, emotional intuition, biases, and prejudices color the lens of the eyes through which we see the world. Logic can be like prescription glasses or like Stevie Wonder glasses depending on how we check our priors.
> The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing.
I noticed the same obsessive feeling and learned more about myself through that day trading. It was an expensive lesson however.
Re: The Great Crypto Grift May Be Unwinding
#8Quoted post unavailable.
It doesn't and never has. 0 intrinsic value.
Great to see all these idiot fueled bubbles popping
Re: The Great Crypto Grift May Be Unwinding
#9Quoted post unavailable.
They took the money and ran?
Re: The Great Crypto Grift May Be Unwinding
#10Crypto will come back again. The reason is because it's very closely related to gambling and triggers the same obsessive thinking as gambling does - based on my observations of how I felt and thought when I did some crypto investing - I found myself constantly checking prices and devoting huge amounts of thought to it - I even wrote a crypto trading bot to analyse strategies. If you know anyone into crypto you would…
> Crypto had a big crash only recently - about 12 to 18 months ago I think, when Elon Musk made some comments that crashed the market. That crash was rapidly forgotten and people piled back in. Same thing will happen here.
Except 12-18 months ago we weren't entering into a recession. So, although I am generally bullish on crypto, I am not so optimistic on things coming back to normal any time soon.
Remember the old adage folks - "the market can stay irrational longer than you can stay solvent".