Ever heard of friends making thousands upon thousands of dollars in crypto? Especially if you just hear about it for the first time, you might of been introduced to crypto by someone who has won big in the crypto markets. This is an example of survivor bias as people who made money in crypto are more likely to talk about it, whist those who lost money don’t bring it up.
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Great video, and reality check. It's really important to keep this in mind and not FOMO.
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very hot post for cloud miners
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A lottery winner will tell you to keep buying tickets.
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I almost had a great deal when I went into Ember EMB for LOL's and then it ended up going up 150%, but had gone back down by the time I could get my Ember (which was staking) out of the wallet onto an exchange hours later.
So now I just don't talk about it, but I sure would have if I would have made that deal.
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If only I made gains like Goku. Each time I am going down a new version of Super saiyan comes out. Where do I get crypto sensu beans?
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Cryptos give everyone an equal chance to play and bet against coins. Where there are winners,there are losers !
Its easy to track your losses and gains and can't blame anyone but yourself.
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Excellent point, thank you for sharing and keeping it real.
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Survivorship bias is potentially misleading on so many levels.
But much can be gleaned by investigating motives; which runs the gamut of all human desires and tragic foibles.
From the simple "bragging rights" of the new kid on the block wanting some "Street Cred"; to the ex-pat in Asia seeking to garner more social mileage on the dating scene, the seduction of survivorship bias always comes into play.
In the negative extreme, it's not uncommon for survivorship bias to play a pivotal role in an elaborate scheme to ensure that "the house always wins".
Sadly, human nature being what it is, survivorship bias is destined to be eternally part of our DNA; remaining with us long after we've uploaded our total being into that ultimate web of all multiverses.
And guess what?
We will likely still be taking our non-physical selves to psychically simulate standing in line to buy a lottery ticket.
Imagine that?
Namaste,
JaiChai
P.S.
Always enjoy your posts!
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Everyday I talk to a couple of people about blockchain and crypto and most of them never heard of it! That's really remarkable because it's in the mainstream media for a while now. But you are right that most people talk just about their successes and not their loses! Thanks for your daily videos:)
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Thank you so much for watching !
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No problem! Thanks for sharing you opinion and inside views.
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This is true in all walks of life. Success stories are one in million. So effectively the probability of anyone being successful is 0.000001 and yet success stories inspire people into believing they will succeed !!
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Exactly ! It makes it seem so easy to make money in crypto
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Excellent video!
Best crypto gains in my opinion are done by holding BTC.
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