How do you feel about buying from your “lesser fools”?
How do you feel about buying from your “lesser fools”?
According to the “greater fools” theory, people buying crypto assets are doing so hoping to find people who are more foolish than them to buy them later.
It follows, then, that when you buy a coin from someone they are your “lesser fool”.
How do you feel about them when making that purchase?
Some communities – especially bitcoin maxis – can be pretty harsh on people for selling. There’s been a bunch of memes and other content flaming someone for selling coins to buy a watch; even for buying a home or clearing debt there can be some backlash.
Can you relate to that “paper hands” scorn? Does policing these norms help build trust (and value) in the community?
Do you feel sorry for people selling their coins? Like, they’re the fools for selling for short-term gain.
Or is it “just business” – every trade needs a counterparty so there’s nothing personal. (No reason to hate on someone for selling you stocks or property, so same deal applies with crypto.)
Just like in stock market whales bet and have been betting on the psyhology of market cycle chart. It has never failed over 100 years. If your crypto project doesn’t fall ala Luna, or no development is happening at all then yeah but everything else pumps up at some point. And no, you are not selling to fool but greedy whale too. I think this topic belongs to buttcoin, it’s foolish