994 upvotes, 12 direct replies (showing 12)
View submission: Don't invest recklessly
[deleted]
Comment by NickisBig at 30/11/2017 at 07:30 UTC
378 upvotes, 12 direct replies
Confirmation bias is all this sub is to be honest. That's why I barely come here anymore I'd much rather get news and opinions from people that aren't man children trying to get rich quick
Comment by [deleted] at 08/12/2017 at 14:01 UTC
5 upvotes, 0 direct replies
Yeah, I've noticed that too.
Informative article from Forbes about the pros/cons of Bitcoin investment => 2 upvotes
HODL meme => 20,000,000 upvotes
Comment by Hertzegovina at 07/12/2017 at 06:53 UTC
5 upvotes, 1 direct replies
I spent 15 min reading in this sub, not coming back. There is no logic behind half of what's being said and upright encouragement of nonsensical financial decisions. I only hope that the people who drink the kool-aid can afford to foot the bill too.
Comment by [deleted] at 01/12/2017 at 08:49 UTC
3 upvotes, 0 direct replies
Every subreddit is based on confirmation bias.
Comment by SuperheroDeluxe at 03/12/2017 at 11:08 UTC
1 upvotes, 0 direct replies
Confirmation bias is a problem everywhere for everyone except for those who monitor for confirmation bias and take steps to adjust for the effects of itself. We all have cognitive biases and we need to watch and adjust for their effects.
Comment by dumbus_albacore at 05/12/2017 at 04:17 UTC
1 upvotes, 0 direct replies
yeah look how hard it is getting downvoted
Comment by cryptoking111 at 06/12/2017 at 11:40 UTC*
1 upvotes, 0 direct replies
The opposite is true. Whenever someone is negative on bitcoin everybody cheers the person on for being so "reasonable". When someone is positive they are "foolish". The reason for this I can only suspect is that people want bitcoin to go down to buy more lower. Negative posts on here always gets thousands of upvotes. Makes no sense because if you believe in bitcoin you know it's still early.
Comment by [deleted] at 07/12/2017 at 15:36 UTC
1 upvotes, 0 direct replies
It’s almost like there are some hedge fund shills in here or something 🧐
Comment by dlerium at 07/12/2017 at 18:09 UTC
1 upvotes, 0 direct replies
It's not confirmation bias. It's groupthink. Compound that with the fact that it really does seem a lot of people are completely irresponsible or don't have good finance practices. We talked about this in another thread where there were kids blaming parents for not letting them buy Bitcoin.
I don't know about you but when I was 15 I got my weekly allowance and I just spent it. I saved sometimes for larger purchases, but overall it was a good learning experience. I could've learned more about saving for the future and retirement investments and maybe even budgeting. I think those are good fundamental steps for kids to take before just jumping into Bitcoin. The problem is this mentality of get rich quick and also some sort of fanatical religion that fiat is evil and Bitcoin will wreck it all.
We could absolutely be right and Bitcoin takes over, but there are thousands of other ideas that people thought would revolutionize the world that never took off. If everything fails I can still look at my 401k and my regular contributions as being a safe nest egg.
Comment by [deleted] at 09/12/2017 at 21:13 UTC
1 upvotes, 1 direct replies
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Comment by RealisticIllusions82 at 13/12/2017 at 21:06 UTC
1 upvotes, 0 direct replies
Lol. A somewhat appropriate bias given the subject matter. I feel like it drives BTC’s price entirely right now
Comment by Lexphalanx at 21/12/2017 at 20:30 UTC
1 upvotes, 1 direct replies
Everyone here wants to hear that they are smart investors and that no matter how high you buy in, you will make money, and there is no risk because btc is the money if the future. But that’s no different than what every other commodity holder believes. Btc is great, btc is progressive. Btc can however still fail, and people should know that no amount of confirmation bias is going to get their money back if they are wrong, or overextended into crypto. Tread carefully, even/especially with “sure things”.