RP on Nostr: The thing is that many people do exactly what you just articulated and still bail due ...
The thing is that many people do exactly what you just articulated and still bail due to basic human psychology. They can read all the books in the world, convince themselves (correctly) that they’ve made a brilliant decision, then seek validation in market prices and second guess themselves before exiting at a loss.
Most newcomers, even ones with good intentions, are not cut out to buy and hold, and early adopters with existing gains can ride out storms more easily. There is also some self selection bias as early adopters with gains have already shown an ability to hold through precious downturns.
Of course, 1 BTC = 1 BTC, but it takes time to truly appreciate that even when well educated on the subject. It’s a mindset that runs completely contrary to every newcomer’s previous lived experience in the fiat realm, and most are not ready to fully accept it even when they think they want to.
Most newcomers, even ones with good intentions, are not cut out to buy and hold, and early adopters with existing gains can ride out storms more easily. There is also some self selection bias as early adopters with gains have already shown an ability to hold through precious downturns.
Of course, 1 BTC = 1 BTC, but it takes time to truly appreciate that even when well educated on the subject. It’s a mindset that runs completely contrary to every newcomer’s previous lived experience in the fiat realm, and most are not ready to fully accept it even when they think they want to.