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RE: Bitcoin Is Dirt Cheap - The Trouble With Unit Bias

in LeoFinance5 months ago

the thing is people that are unfamiliar with cryptos, or have little experience they are thinking that it's either a scam or too expensive to buy. (there are those who will go all in too, the overexcited ones)

On the other hand, we got those who are a bit more experienced. Many of them will wait for the dump to buy! (even if that dumb never happens). Only a few of them will buy i believe!

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I think that you're right the vast majority of people who are getting into BTC like I did in 2016 didn't bother to do any research all they see is number go up. It's quite an interesting behaviour I must say, when we all got rekt in 2017 many left and others stayed for the tech and to find out why, the cycle keeps repeating.

I'd say its still a small minority who understand unit bias though, even people who have been in crypto for years, don't get it, or you wouldn't see things like "cheap hot alt coins" content and people buying things because the unit price is cheap like XRP which doesn't have much else going for it

hehe and talking about XPR a few hours after that reply, the downhill started :P

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LOL I noticed now I checked coingecko, do you know why its been shitting the bed like this?

hahaha i think you already have the answer by now :P

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LOL yes I couldn't wait, I had to go research, poor XRP squad