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Normally this type of penny-stock buyer mentality is gated from the public imagination because it's wrapped up as ownership percentage in a company so it avoids obviously wrong market cap calculations. e.g. forking dogeCoin as notADogeCoin and sell 1 coin for 1 dollar to friend.
So everything combines into a blinding bias towards the short-term because that flashiness is viscerally felt as "sexiness". People don't want to BE Warren Buffet, they want to have his wealth in a younger more virile body.
Given a choice, the best investment is to invest in "Self". What that means specifically is do whatever it takes to be able to think for yourself with courage. The erect dick may be brave, but that's just b/c it doesn't actually think all that much.https://twitter.com/a_yawning_cat/status/1346861300027068417 …
the only *valid* reason to invest in crypto is a true belief in what it can do for the world because that helps dampen the effects of volatility and social pressure on the ego.
This "belief" is not just short-term virtue signaling "down w/ the system! but also wanna have sex? me potentially rich in future but am also like motorbike vagabond sexy risk-taking wanderer bad-boy anti-hero"
It's more of a willingness to go down with the ship. Much like having a child, adopting a pet, or investing in a startup or kickstarter. You have to be willing to never get the principal back and sink good after bad to fully realize the value.
without the self-knowledge to know when you're deluding yourself it's very easy to *think* you actually believe in this Brave New World. Yet the time horizon expectations being completely whack are a red flag that it's pseudo-understanding and head nodding.
Here's a fun phrase: 暴富 It means "exploding wealth". Many younglings nowadays want to "explode with wealth overnight" because they simply can't stand their everyday life.
This leads to YOLO-ing on things because they're afraid of being left behind in a shitty 996 system while their friends rocket ship to wealth and show-off everyday on social media.https://en.wikipedia.org/wiki/996_working_hour_system …
If the YOLO play doesn't work out there's very high danger of suicide depending on your social net. If you're the only child on who multiple generations have placed their hopes and dreams...then...you end up like my friend. ded.
Not that I understand of course. Cats are one the few animals capable of willingly starving themselves to death and will do so for such petty reasons as "this kibble tastes bad."
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