/biz/ - Business & Finance

the world is full of delusional cultists so why wouldn't it be

>>52383949
chainlink does that to a mf

>>52383949
Because it's a cult?

>>52383949
ego

>>52383949
because you make a lot of money and it blinds you and you start to believe in
>gme short squeeze
>silver will become the replacement of cash
>bank man fried is a legitimate good
what comes around goes around

>>52383968
True, but in the crypto market it's amplified by a factor of 10.

Every single project has its own cultists who label anyone who disagrees as "FUDDERS" and they believe their coins is better than all the rest. It's quite fascinating I have to admit

>>52383949
They're cultists, but they're stupid cultists. If they had any brains they would be pulling a knights templar. I blame TV, video games, bad parenting and fast food for this regression in thinking.

>>52383999
no different than stocks, sports teams, religions, political parties, etc

>>52383949
The original material is actually hard. Nobody wants to code or even understand code. Few read white papers even less can actually evaluate them.
So it's easier to just let the knowledgeable ones become shamans and wizards, while just shouting like a monkey at memes on the side while the numbers go up or down.
I used to believe dedicated crypto communities have knowledgeable people in them. Over time I'm realizing they are 95% meme morons.

Simply put:
actual material is hard -> people are lazy -> knowledgeable people like devs become close to priests/shamans -> cults form because brainlets cant be bothered

>>52383949
you have to be delusional to actually believe imaginary internet chuck-e-cheese tokens created out of thin air is the "future of monry" and the path to financial freedom

>>52384021
The only case with stocks is GME and AMC and that was solely because of Reddit and it happened after the 2020 covid pump.

Nobody is a cultist for Walmart, Nvidia, Exxon etc... and all other boomer stocks

>good news for crypto
IT’S HAPPENING! WE’RE ALL GONNA MAKE IT!
>bad news for crypto
BOTTOM SIGNAL! WE’RE ALL GONNA MAKE IT!


Sure is a mystery how this leads to cultish behaviour.

>>52384045
Xbox vs PlayStation. Ford vs. Chevy. People will latch on to anything and form their identity around it, inventing all sorts of reasons their favorite thing is the best and liking it makes them better than others

>>52384032
This is actually a good answer

>>52384045
There is an obscure cult that worships corporate america (as in the whole concept of corporations and corporate culture) as the second coming of Christ.
They're super underground and the only thing I remember about hem is that people who don't believe in corporation supremacy are labeled "neo-cheaters".

>>52384032
>>52384086
Yup. Anyone doing their DD down to the codebase will stay clear of 99% of coins out there.

>>52384214
And they would miss out on 99% of gains.
A token’s success has little to no correlation with its underlying technology.

>>52384236
Kinda like stocks

>>52384329
For the speculative traders maybe, but a profitable company pays dividends.

>>52383949
yeah my coin is still the best one though

>>52383949
Because it has no intrinsic value and can be copy pasted. Fanaticism is 100% required to make the price go up and stay up

>>52384884
All the demand for crypto comes from corrupt governments. The more corrupt the government, the more valuable crypto will be. but you already knew that.

>>52384884
In a sense it's like football or religion. Without belief it just disappears.

>>52384920
that's all money. stop baiting.

>>52384236
>little to no correlation
Except it is the underlying technology that determines if a coin will survive a bear market or die like thousands did in the previous bear market.
If you are not a day trader you should be avoiding shitty projects.

>>52385240
If you’re not a day trader crypto is the worst investment in the world.

>>52383971
The Ten Classic Signs You Are In A Cult

1. The leader is the ultimate authority
>Sergey depicted in memes as a king, a god, Jesus on the cross
>followers hang on his every word, mesmerized by his presentations even though he's been using the same slides for 3.5 years

2. The group suppresses skepticism
>all critical thought about LINK is FUD
>questioning LINK will get you called a redditor, newfag, or a salty nolinker

3. The group delegitimizes former members
>memes depict LINK sellers swinging from a rope
>popular figures like Timo, Cryptojuice, and even Dave Portnoy are mocked endlessly despite making a profit by selling LINK

4. The group is paranoid about the outside world
>LINK cultists insist that the "kikes" want your LINK
>the only reason it doesn't pump is "price suppression" by the globalist Great Reset New World Order

5. The group relies on shame cycles
>people who don't have the prescribed "suicide stack" of LINK are mocked and shamed until they irresponsibly spend over $80,000 to acquire 10k LINK

6. The leader is above the law
>linkies hate anyone who sells LINK
>but when Sergey sells 40 million dollars of LINK every Friday for a year, it's a good thing

7. The group uses “thought reform” methods
>DO NOT UNDERESTIMATE THE POWER OF POSITIVE THOUGHT! WE ARE ALL IN THIS TOGETHER!

8. The group is elitist
>the linkie believes he is superior to the nolinker, even if the nolinker has made many times his profit, because one day LINK will moon. he knows this, based on faith.

9. There is no financial transparency
>nobody knows where Sergey's weekly 40 million dollar dumps are going
>one blog post update every 6 months

10. The group performs secret rites
>esoteric saturnism
>eric holder killed paul walker
>rosicrucian numerology
>municipal marmalade
>cult of demeter
>jonny rims horses

>>52383999
>>52383999
there definitely have been many 'my coin does this one thing that is indispensable to the future of blockchain' claims. i'm thinking many of these claims are bullshit. just like the claims by certain companies who claim 'your funds are SAFE' and then go bankrupt with 48 hours

>>52384084
Even the biggest "console wars" nerd cultists dont lose their life savings buying microsoft/sony stock though lmao

>>52385504
Ask bitcoin holders from 2016 or eth holders from pre 100 dollars.

>>52385851
Yeah, let me ask the lottery winners about the merits of gambling.

>>52385878
>never gonna make it

>>52386011
Yes, if the best argument for getting rich off long-term holding crypto involves a Time machine, I’ll never make it following your advice.

>>52386148
>if their investment survived over 10 years in this market -> they are gamblers !
>the only way to win is a time machine
really not gonna make it