Why do most people still fail to understand cryptocurrencies?

The recent sharp drop in Bitcoin has made many investors feel uneasy, and at the same time, bystanders outside the circle have once again seized the opportunity to ridicule Bitcoin.

For example, an Internet user named "Doctor Doom" said, "Knowing that it is a bubble, you still follow the trend and speculate! Retail investors chasing Bitcoin will eventually be crushed."

Some time ago, when Dan Bin announced that he bought Bitcoin, most of his comments on Weibo were also such negative comments. Many of his followers did not understand why he bought such a "worthless" thing .

Cai Leilei recently wrote an article "Bitcoin's Investment Window Is Closing", in which he talked about this issue and invented a very interesting term called "Ordinary People's Maliciousness Index".

The article reads like this:

"In this world, there must be many more people who want Bitcoin to crash than those who want it to rise. The reason is very simple. It is a painful thing to watch others make money, but it is a pain to watch others make money when you are empty." more painful things."

The article also cites the story of an old player "Old Duan" who held a large number of Bitcoins in his early years.

"Many years ago, Lao Duan held a lot of bitcoins, but when he got out of the car and could no longer get in the car (in fact, it was only a few thousand yuan a piece from now on), he became a firm bitcoin black— —Sometimes people are like this, in order to get their emotions relieved, they would rather hold on to false beliefs with 'unrealistic wishes'."

Lao Duan's cognitive ability is definitely higher than that of ordinary people, and he turned to another direction because of this emotion, so for ordinary people, the emotion and malice towards Bitcoin can only be deeper.

"An investment product has a cycle, so ordinary people's malice will 'succeed' once every few years, but what they don't realize is that every time they 'succeed', in fact, even the lowest point is much higher than the previous highest. point, so in fact, even they themselves don't know what they are mocking."

"As long as their malice is still strong, the rising period of Bitcoin will not end. On the contrary, when they all start to try to buy, it means that another cycle of bull-bear conversion is coming."

The author invented a proper term for this --- "the malicious index of ordinary people". This is the best description of the negative emotions of ordinary people that I have seen.

I have experienced many similar cases, the latest one happened in November last year.

It was a meeting of friends. During the meeting, some friends of friends heard that I was doing something related to Bitcoin, so they asked me "where is the value of Bitcoin" in a tentative and "hidden mystery" tone. When I tried to turn the topic away and avoid going deep into this topic, they started a tirade on Bitcoin, explaining that Bitcoin is "unreasonable" from an economic, legal, historical, and even moral point of view.

In the end, they added my WeChat, hoping to continue to "discuss" Bitcoin----in fact, continue to show me the evidence in their hands that can prove that Bitcoin is "unreasonable".

At that time, I clearly remember that the price of bitcoin was only 18,000 U.S. dollars. Later, as bitcoin rose, the "evidence" they sent became less and less, and finally they never sent it again.

The malicious index of ordinary people vividly describes the weaknesses in human nature: obsession and arrogance.When we dare not face the facts and admit our mistakes, we cannot let go of our arrogance, and if we cannot let go of our arrogance, we will form a certain obsession, which will prevent us from accepting new things and grasping new things. opportunity.

Especially in the field of digital currency, new things and new opportunities come and go quickly. Often, the explosive dividend period of a new thing is very short. Whoever can become the lucky one, who can seize this explosive period, will be able to Change your destiny in a very short period of time.The explosion of DeFi last year is a typical example recently.

"One day in the currency circle, one year in the world" is the truth.

And the key to this is to quickly understand and recognize new things, which requires us to be alert to our obsession and arrogance at all times. Always face what happens here with humility and a learning attitude.