Quote from: explorer on January 30, 2018, 09:45:37 PM

Quote from: AZwarel on January 30, 2018, 09:04:28 PM

Without sounding prudish, in my experience 95% of people has no concept of long term planning, they act on basic immediate emotional impulses - that also explains these panic sell periods - which are so far has been always corrected upwards in the long term. Like, why would anyone, who is in for the long run and trust the principles of bitcoin would sell on a flash crash out of fear?

It has been proven many times, that day trading on sudden swings based on fear/greed leads to a net loss for more than 90%+ of the participants (net value gain is in a https://en.wikipedia.org/wiki/Pareto_distribution, hence the long time strategy is hodling). i have found that studying psychology/philosophy of humans are more rewarding in economic endeavours than economics itself...

95% might be a bit high, but the gist seems correct. ~50% of people have an IQ less than 100. ~80% under 115. You cannot expect great thinking from the masses, when they are so easily led by kittehs and fake news. There is a reason that change comes from 5% or even less. Logic and Reason are not common. It's terribly difficult to study if you cannot read/comprehend, and many (most?) people cannot.

Sadly, i agree, with the addition, that even those who i know has the "hardware" (the 115 iq+) have this attitude of " oh no this is out of my field, i shouldn't". I really like bitcoin, it is a true interdisciplinary subject, where you have to incorporate different fields of study into a single, complex idea. That requires genuine interest to reach knowledge, i think THAT is what missing in the "average". That is why i start to accept the idea, that it is no coincidence, that wealth/creative production capacity/high quality sexual mates etc. are spread in a Paretio distribution. AKA, most people are just too lazy mentally.

It is sad, that this major shift in the societal construct what bitcoin offers - just like the internet did to us on a global scale - goes the same way as everything else did before: the curious, mindful, and risk taking are reaping the benefits, and the masses will lag behind as usual. Guess that is why they are the masses Cool