All I see on r/bitcoin are memes and people shilling in the comments (seriously, it’s a gore fest of people cumming so hard to Coinbase screenshots, begging people to buy more so lambo). Can anyone ELI5 over why it’s being pumped again? What are the driving forces?
Just wondering, are there any folks here who have invested in cryptos not because of the fundamentals, or technology, or for showing the banks who's boss....but because well...people are greedy?? I understand this is a subreddit mostly for shitposting about bitcoin and the morons around it, and I respect that. Hopefully I don't get downvoted into oblivion cause I would like to here some thoughts on this.
I got into crypto in 2016. I personally think it has a lot of potential and is an interesting concept which made it a worthwhile investment. I also see the unbelievable shills, the massive red flags, and risk involved in actually being your own bank. More than anything I am curious to see how the future unfolds, as I see a lot of possibilities. I cringe often on the bitcoin subreddit as well as this one which makes sense considering both are extremely one sided. Kind of like militant atheists and people that believe in old testament stories.
The thing that will continue making me invest however, no matter what, is knowing just how greedy and desperate people are. I guess honestly, myself included. Buying and trading bitcoin and understanding current sentiment has supplied me with very respectable earnings. It would seem like some people in this sub would hold the feeling that as long as this notion of "infancy" and "speculative for now" are around and the fact that only 40 million wallets exist in the world and the market cap is a speck compared to gold, more thought provoked people would be inclined to invest in it, not because they believe in it, but because they believe in the predictability of human behavior. That is what I truly attribute my trading success too.
So in short, how many here hate bitcoin, hate bitcoin enthusiasts, and still hodl/trade? I understand many won't just for the shear principle but I also would think some would invest a reasonable amount in case they are wrong or they can profit off the greed of others. How many of these massive spikes must you guys see to not want to try to...again...REASONABLY play the market?
As someone who purchased some butcoin several years ago, I'm waiting for it to go to the moon (again) and spend a chunk of it on something real... gold.
Am I wrong-headed?