My parents did a lot to model being smart with money and only one of their kids (me) picked up on it. Kids often love being the opposite of what they're taught, no matter how much it hurts them.
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wonderingwanderer 11 points 2 days ago
The thing about people who buy NFTs is that they think they are being smart with their money.
They look at what happened with Apple, Microsoft, Google stocks way back in the day and think "huhuhu, I'm not going to be one of those idiots who misses out on an opportunity like that!"
It's FOMO and "high risk - high reward" gambler mentality, wrapped up in the illusion of being a savvy investor.
im_fine_sandy 1 point a day ago
No, I think with NFTs people were just looking at the bitcoin train they had missed out on, and thought NFTs would be the next big crypto thing.
Mostly they thought it was just the next big thing.
I think this unique. Not really FOMO and certainly not investing.
wonderingwanderer 2 points a day ago
That's pretty much FOMO though. They thought I was the next big thing, *and* they didn't want to miss out on it.
And it doesn't matter if it's really investing or not, because the fact remains that the people who buy it believe that it is. If they didn't think of it as an investment, they would have zero reason to buy NFTs (unless they intend to use it on the dark web)
im_fine_sandy 1 point a day ago
If that's FOMO then pretty much every decision could be considered FOMO. I decided to put my shoes on this morning because I was worried everyone else wearing shoes would enjoy the advantages there-of and I would miss out.
wonderingwanderer 2 points a day ago
That's funny because I actually didn't wear shoes today cause I was having FOMO about that barefoot life after listening to Shakira sing Pies Descalzos
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Well, who raised that idiot?
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