Ever wondered why there are so many people within crypto that refuse to learn?

Let me give you an insight in how they think. Now keep in mind that you won't find to many people online that have made millions of dollars, by getting lucky and buying Bitcoin early. And being smart enough to sell (at least some) before the all time high. These people, you really think they would spend all their days on /r/cryptocurrency or /r/bitcoin? No. I am talking about the recent inflow of people that bought around the All Time High or shortly after.
This is a person, like many, that has no use for crypto as currency. He will never use it. He is not interested in it. He likes crypto because it's a way for him to get more fiat, which is his goal. Since the markets don't care (cause the market is not free with Tether controlling so much of it) about the different between ripple and Bitcoin Cash, neither does he.
He is in to Bitcoin Core, because that makes him feel elite. He might be losing money like everybody else, but at least he is among the elite losing money. Ever seen the titanic movie? He sees himself in the captain's quarters, not among the plebs. He might be losing money, but at least he is not losing money holding a shitcoin. That's how his own ego is justifying itself.
"Even God himself cannot sink this boat" that's what he is holding on too. If you try to explain to him how the Titanic is divided into compartments that can stop a leak from spreading around the ship, but also show him where the weaknesses in that system are. He is simply not interested. If you bug him to much he will go find those violin players that played until the water crushed them. There he will find some comfort. Listen to the sweet music and pretend like the ship is not syncing.
What is he going to do? Admit to himself he got bamboozled? He would never get bamboozled, he is to smart! His ego prevents him from accepting reality and nobody will change his mind. Only when the cold water will hit him, then maybe he will get his senses back.
Many of these people, eventually in a couple of years. Some of them will be financially ruined for accepting this crypto religion as their salvation. Their ticket into a better live. To be among the rich and powerful, without having to do any work for it. Just hodl. Hodl. Just hodl. I am going to hodl. Hodling is easy, you buy and never sell. 16 000 hodl. 14 000 hodl. 12 000 hodl. 9000 hodl. 5000 hodl. 4000 hodl 2000 hodl. Hodling leads to inaction, to freeze and accept.
Nobody can help this person, until the price is lower then his ego is big. And he is ready to admit: I have been bamboozled, and it's all on me. He will get far away from crypto, and try not to think about it.
And then 15 years from now he might go out late and night to try to buy some cheap beer at his favorite gas station and he sees this new sign: "Bitcoin Cash accepted here"
And then maybe he is willing to start all over, this time from the perspective that Bitcoin Cash is simply a more modern version of money. Not a shortcut to getting rich without having to do anything. Was this not the reason he hated banks? That banks make money without producing anything tangible?


 

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  spent 10.0¢
If this goes the way we hope, it'll be important in the future to minimize/avoid the "we told you so" and schadenfreude.
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   2mo ago
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Yeah, and instead just ask them to join us in this new economic system we want to build.

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   2mo ago