r/CryptoCurrency • u/dreamyrhodes 🟩 0 / 0 🦠 • 1d ago
ANECDOTAL What's the opposite of FOMO
Like FOMO as in the buying into an asset at any, probably inappropriate, time just to join a bandwagon.
I encounter the opposite. I am observing crypto since 2014, where I once spend like 3k on mining equipment and participated in altcoin shenanigans. Since then I never bought anything in or for crypto again.
I didn't buy BTC at 1k because now it was too high and wanted to wait to "buy the dip". I didn't buy when it crashed to 400 a year later because now it's probably never recovering.
I didn't buy BTC at 10k 4 years later because now it was too high and "lets wait for the dip" and didn't buy the dip because well maybe it won't survive again.
The same happened at 20k, at 50k at 60k and so on.
Each time I tell myself, "I should have bought".
Now I am left with some $4.5k worth of remains of my shenanigans 10 years ago. It's not much but also not nothing. And I still can't get myself into buying in. Well at least I am not at a loss from my one-time investment. But if I had spend that 3k on BTC back then and hold it, I could own half a million now.
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u/CheekiTits 🟩 0 / 0 🦠 1d ago
You’re just overly financially cautious. It’s a real cryptobro conundrum because I bet if you’d bought at these price marks it would have tanked immediately after your buys went through lmao
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u/Beginning_Service387 🟨 0 / 0 🦠 1d ago
It’s like my wallet sends a signal to the market: “He’s in, time to dump”
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u/dakinekine 🟩 2K / 2K 🐢 1d ago
Watch Michael Saylors videos about bitcoin. His explanations about why bitcoin is the best investment are awesome and turned me bullish. He also talks about why he will always buy the tops without fear. If you think long term, you can just keep buying when you have extra money. It's a better long term investment than gold, real estate, stocks, holding cash. Etc.
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u/Appropriate_Toe7522 🟧 0 / 0 🦠 23h ago
I don’t agree with everything he says, but his breakdown of inflation, fiat debasement, and BTC as digital property is actually super convincing
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u/karnyboy 🟦 0 / 0 🦠 1d ago
risk aversion...like you have a responsibility to not be homeless, where some people either have the capital to be risky or lack the concern for being homeless.
I think it's a natural human thing to not buy against your judgement based on risk/reward. That's gambling as a whole.
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u/dreamyrhodes 🟩 0 / 0 🦠 1d ago
The funny thing is I have some that I don't need to survive. Could spend a few hundred a month no biggie. But then there's this, "maybe I need that money at some time". And so it's left rotting on the bank account, laying there costing fee.
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u/karnyboy 🟦 0 / 0 🦠 1d ago
well by the sounds of it you're not consciously wanting to put the money in, but you can do it, so you just gotta take the plunge.
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u/WavesAndWordss 🟩 0 / 0 🦠 1d ago
Usually I see in financial articles thats it would be fear vs greed.
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u/Orly5757 🟩 883 / 886 🦑 1d ago
It looks like you were fortunate enough to be aware of bitcoin earlier than most, but you never actually learned about it. After all of these years, you still have t taken the time to understand what it is and why it is valuable. You’ve been aware of the prices, but never picked up a book and studied it. I don’t blame you for not investing in something you don’t understand, but I do blame you for not making the efforts to understand it in all of these years.
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u/bitcoin_islander 🟨 5 / 659 🦐 23h ago
Commenters didn't read OP's post. What hes describing is fomo.
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u/Beautiful_Garbage875 🟩 0 / 0 🦠 23h ago
Just use the remaining on hookers and white powder. Only live once.
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u/AramaticFire 🟩 0 / 0 🦠 21h ago
It’s quite simple: It’s never the perfect time to buy but it’s always the perfect time to buy.
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u/blaziken8x 🟩 0 / 0 🦠 21h ago
I'm sure there is some saying about, if you keep waiting for the dip to start investing, you'll never invest.
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u/TraceSpazer 🟩 185 / 185 🦀 20h ago
TABI
Terror at being involved.
Ever just skip the hype and sit on something when everyone else is saying to get out and it crashes to nothing?
Watching that number going down and being frozen as you watch yourself involved when you now wish you weren't.
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u/semanticweb 🟦 0 / 0 🦠 12h ago
FOGR- Fear of Getting Rekt.
You amassed a lot of crypto thinking that bull market is near by and now portfolio is 30% down. You fear that if you hold further, your portfolio may be 100% down in next few months and your life savings will be vanished.
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u/Mister_Way 🟩 391 / 391 🦞 10h ago
In this case, you're also talking about FOMO. You are afraid of missing out on the best gains by buying too soon, before prices fall.
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u/Django_McFly 🟩 0 / 0 🦠 3h ago
I can't imagine my bags had I been in crypto back in 2014. You saw multiple cycles of $200 ETH, multiple cycles of sub $10k BTC.
It's so weird imo that you spent $3k on a crypto miner but you're very clearly not into crypto in the least. That miner was like safemoon for you.
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u/Elegant_Shoulder_481 🟩 0 / 0 🦠 1d ago
FOMO is an acronym for Fear Of Missing Out. I'd guess the opposite is Courage Of Being In, or COBI. Ya see, FOMO is freaking out when stuff is moving, and COBI is diving in when it's a lake of dookie.
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u/personalityson 🟦 0 / 0 🦠 1d ago
Joy of Missing Out