I'm really into the psychology behind people losing big sums with "investing".
without knowing too much yet, I think most comes from people knowing not enough either but discovering really risky strategies like options, using lent money.
they are hunting for that first rush of winning shown as the first spike. but with each loss they must win back more so choose riskier bets. it's a downward spiral.
@kaia this has been observed for years and years with lottery players, a non-trivial number of people believe there is a "system" that guarantees returns you just have to figure it out. combined with main character syndrome
@kaia my brother got into crypto and low level investing as a retard, its just annoying to be around, always telling you about some new shit coin or stock to invest in.
@kaia@ruin I know someone making (according to them) over 30% roi just flipping shitcoins. I consider myself the retard for not getting on board. They are going to teach me how.
@pingviini@kaia@ruin my rationalization for it is that most of my income is robbed from me at gunpoint by an evil government for evil causes or evaporated through monetary policy of evil government, and I am getting older and older.
I agree with you, I find it all distasteful. I have no emotional investment in crypto gambling, I only ever got into crypto stuff because I found the tech cool and fun to play with and the money I made in it thus far has been an accident.
@icedquinn@kaia@lucy in parts of uk gambling is tax free. thats why stock derivates are popular. instead of buying stocks u buy a derivate which is worth exactly one stock. but it "is" not a stock just a gambling option :aismart:
@icedquinn@kaia@lucy I find it kinda disingenuous that people will look at gambler investors who have just entered the market and assume that everyone else is the same :02_shrug:
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