It really was an enjoyable read. The very last paragraph of the
sunk ship fallacy link you provided states:
Don’t stay on a sinking ship: Just because you’ve sunk costs into a project doesn’t mean you have to go down with the ship. With these strategies, you can let go of the past and make decisions based on what’s best for you and your team. The sunk cost fallacy makes you your own worst enemy—but with some self awareness, you can be the key to your team’s success instead.I suppose far too many people do not know when to cut their losses to at least end up with something (no matter how small) as it will always be better than having nothing.
Personally, I think many would agree they have been on a downward spiral for a long time. If they are sending out emails to some members and not others, this is probably another flaw in their system. I cannot see how they will recover from the damage to reputation as it has gone on for far too long.
From my personal experience, I have seen bitcoin falling so hard that it makes us believe it is going down to zero but then the reversal comes in.
So bitcoin has some people so adamant that they hold on to their "sinking ship" believing that the reversal will come soon and their ship will be back on track.
But the hard truth is that it doesn't happen with altcoins. Bitcoin is truly an exception.
I have cut my losses few months ago and sold whatever I had and fortunately the withdrawal went through.
It feels really bad though when such a reputed site like freebitco.in which has been a gateway to crypto for many of us, goes down this way.