Bitcoin fans are psychopaths who don’t care about anyone, study shows

[Felis Leo]

LOL since there are a lot of people getting rich from crypto, perhaps more folks ought to be psychopaths.

True, PoS. But couldn't the same be said about those Dutchmen who went about buying and selling tulip bulbs in the 1630s for ridiculously hyper-inflated prices? A lot of Dutch made bank on those tulips right up until the point the market crashed. And the richest Dutchmen were the ones who sold their bulbs off the day before the crash. The poorest were the ones who mortgaged their land and gave their life savings to buy a handful of pretty but nevertheless near-worthless flowers.

 

[Phys251]

Bitcoin has tremendous value as a currency. Bitcoin is used every day as an instrument to purchase goods and services.

Bitcoin's biggest advantage over the US Dollar is that it is immune to inflation.

Bitcoin's value bounces all over the place. It makes the dollar look completely flat in value by comparison.

Bitcoin will never replace the US Dollar as the World Reserve Currency.

The Yuan might, but not Bitcoin.

 

[SkyChief]

Bitcoin's value bounces all over the place. It makes the dollar look completely flat in value by comparison.

Yes, Bitcoin bounces around - it goes up, it goes down, it goes sideways.

Over time, the strength (purchasing power) of the US Dollar ALWAYS goes down. Optimally, it goes down gradually. In times of high inflation, it goes down really fast (as is happening right now).

The World Reserve Currency status of the US Dollar is in jeopardy because we print and borrow too much of it. That is the typical death knell of any world reserve currency - - it becomes devalued to point when it becomes essentially worthless, and naturally the world looks to a better currency.

I predict the Yuan will emerge as the new World Reserve Currency, but it will take a while before the US Dollar goes completely tits-up.

 

[PoS]

True, PoS. But couldn't the same be said about those Dutchmen who went about buying and selling tulip bulbs in the 1630s for ridiculously hyper-inflated prices? A lot of Dutch made bank on those tulips right up until the point the market crashed. And the richest Dutchmen were the ones who sold their bulbs off the day before the crash. The poorest were the ones who mortgaged their land and gave their life savings to buy a handful of pretty but nevertheless near-worthless flowers.

Tulip mania lasted for 3 years. Crypto has been around since 2008, and is gaining wide acceptance to the point where even the US Government is thinking about creating their own. How exactly are those two comparable again?

 

[CaughtInThe]

 

[bluesmoke]

Money laundering and paying anonymously for illegal things

The ones making money off of the rise in value is due to purchases by those that do so on a purely emotional motivation, driving up the price before it drops with them holding an empty bag.

 

[JacksinPA]

The ones making money off of the rise in value is due to purchases by those that do so on a purely emotional motivation, driving up the price before it drops with them holding an empty bag.

I have a degree in the physical sciences so I approach things like digital currency analytically. I'm convinced that its buyers are victims of a greed-based psychosis & those on WS who are using them. It's all a bubble. Plug a computer into the wall & get something I can put in the bank? I think that proposition violates one of the laws of thermodynamics.

I have not read this study but it's eery that I came to basically the same conclusion.

 

[bluesmoke]

I have a degree in the physical sciences so I approach things like digital currency analytically. I'm convinced that its buyers are victims of a greed-based psychosis & those on WS who are using them. It's all a bubble. Plug a computer into the wall & get something I can put in the bank? I think that proposition violates one of the laws of thermodynamics.

I have not read this study but it's eery that I came to basically the same conclusion.

The brew is of emotion, greed and gullibility. A concoction that is a nutritious food to dish out to a market full of psychotics, forks and knives in hand, banging on the table.

 

[Checkerboard Strangler]

Crypto is Mary Kay for frustrated men.

 

[Lord Tammerlain]

Bitcoin has tremendous value as a currency. Bitcoin is used every day as an instrument to purchase goods and services.

Bitcoin's biggest advantage over the US Dollar is that it is immune to inflation.


Bitcoin will never replace the US Dollar as the World Reserve Currency.

The Yuan might, but not Bitcoin.

Bitcoin is not immune to inflation


Everything just became 20% more expensive to buy with Bitcoin

 

[Lord Tammerlain]

LOL since there are a lot of people getting rich from crypto, perhaps more folks ought to be psychopaths.

People made a lot of money on tulips

At least tulips were and are tangible

 

[Crovax]

LOL since there are a lot of people getting rich from crypto, perhaps more folks ought to be psychopaths.

What difference a month makes

40% of bitcoin investors are now underwater, new data shows

Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.

www.cnbc.com

 

[Rexedgar]

Melania won’t accept it.

”At this time, the only way to purchase an NFT on MelaniaTrump.com is with a credit card and fiat currency, but it will be minted on the Solana blockchain and sent to your Solana wallet.”

NFT Collections | Melania Trump

MelaniaTrump.com houses several NFT collections featuring Melania's likeness. View the collections here.

melaniatrump.com

 

[JacksinPA]

Bitcoin is not immune to inflation


Everything just became 20% more expensive to buy with Bitcoin

Gold & silver are. Coins I bought 6 years ago cashed in for me. No inflation. Big checks.

 

[Crovax]

Gold & silver are. Coins I bought 6 years ago cashed in for me. No inflation. Big checks.

Simon–Ehrlich wager - Wikipedia

en.m.wikipedia.org

 

[PoS]

People made a lot of money on tulips

At least tulips were and are tangible

Tulip mania lasted 3 years. The dotcom bubble lasted 4-5 years.

Crypto on the other hand is now being adopted by governments as legal tender.

What difference a month makes

40% of bitcoin investors are now underwater, new data shows

Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.

www.cnbc.com

That means 60% of bitcoin investors are doing okay or very good, considering that the value dropped by nearly 40%. If that happened to a company's stock that would have been the end of that firm.

 

[Crovax]

Tulip mania lasted 3 years. The dotcom bubble lasted 4-5 years.

Crypto on the other hand is now being adopted by governments as legal tender.


That means 60% of bitcoin investors are doing okay or very good, considering that the value dropped by nearly 40%. If that happened to a company's stock that would have been the end of that firm.

El Salvador is going to default on its debt because the adopted bitcoin

El Salvador’s President Went All In on Bitcoin. Then It Tanked.

Bitcoin’s losses stoke growing fears of a debt default under President Nayib Bukele.

www.wsj.com

 

[Lord Tammerlain]

Tulip mania lasted 3 years. The dotcom bubble lasted 4-5 years.

Crypto on the other hand is now being adopted by governments as legal tender.


That means 60% of bitcoin investors are doing okay or very good, considering that the value dropped by nearly 40%. If that happened to a company's stock that would have been the end of that firm.

Crypto currencies can be useful, but investing in them to make money through trading is a fools game, like the tulip mania

 

[PoS]

El Salvador is going to default on its debt because the adopted bitcoin

El Salvador’s President Went All In on Bitcoin. Then It Tanked.

Bitcoin’s losses stoke growing fears of a debt default under President Nayib Bukele.

www.wsj.com

Well if you put all your eggs into one basket then you deserve what youre getting.

Crypto currencies can be useful, but investing in them to make money through trading is a fools game, like the tulip mania

Ive made money on them and so has my uncle. As long as you invest wisely by using disposable income and dont bet the house on it, then you should be fine.

 

[bomberfox]

Bitcoin can not be used for everyday services, the block chain is too long and transactions take forever even with the tiny fraction of transactions it processes now. If it were to become an every use for most people it would be a disaster for bitcoin



Bitcoin is susceptible to rapid and massive devaluation which is much worse than inflation

NFTs i would say are far worse than crypto itself.

 

[trouble13]

Bitcoin fans are psychopaths who don’t care about anyone, study shows

A team of experts recently surveyed more than 500 people to uncover the personality traits that are most common among crypto nuts.

nypost.com

The average Bitcoin investor is a calculating psychopath with an inflated ego, according to scientists.

A team of experts recently surveyed more than 500 people to uncover the personality traits that are most common among crypto nuts.

They identified that many investors exhibit signs of the “dark tetrad”, a group of four unsavory traits made up of narcissism, Machiavellianism, psychopathy and sadism.
=======================================================
I would not touch bit coin.

I don't put much stock in what the self proclaimed experts tell themselves.

That being said I have never invested in bitcoin because nobody has been able to explain to me what a bitcoin is and how it is something of value.

 

[Slartibartfast]

I don't put much stock in what the self proclaimed experts tell themselves.

That being said I have never invested in bitcoin because nobody has been able to explain to me what a bitcoin is and how it is something of value.

The bolded will never happen, because its an asset based on nothing but exuberance.

 

[trouble13]

The bolded will never happen, because its an asset based on nothing but exuberance.

The whole thing kinda makes me think of the Dutch tulip bulb bubble. If you time it right you will make some money but somebody is going to be left holding the bag at the end.

It's a shame too because I like the idea of cutting the banks and clearing houses out of the process.

 

[Slartibartfast]

The whole thing kinda makes me think of the Dutch tulip bulb bubble. If you time it right you will make some money but somebody is going to be left holding the bag at the end.

It's a shame too because I like the idea of cutting the banks and clearing houses out of the process.

The banks are in a good position to buy the equipment (or to invest in those companies) to create more hashes.

The structure of this process rewards people who already have assets, unless one gets in very early.

Meet the new boss, same as the old boss.

 

[Lord Tammerlain]

Well if you put all your eggs into one basket then you deserve what youre getting.


Ive made money on them and so has my uncle. As long as you invest wisely by using disposable income and dont bet the house on it, then you should be fine.

People are making money on them because people feel they can make money trading g something based on no actual value. That is a fake market doomed to collapse. It can not be used as a currency because it is to volatile, it is not a store of value right now as it is to volatile.

It is purely a speculative play based on someone else thinking someone else is a bigger idiot.

Once it stabilizes, then it can be used as an alternate currency. Until then it is a tulip mania with intangible electrons rather than physical tulip bulbs as what you get in the end