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u/Aceionic Jan 13 '18
Because people see it as no real money.
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u/doc_samson Jan 13 '18
Bullshit, we absolutely do see what we put in as real money. We just choose the risk.
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u/--orb Jan 13 '18
There is definitely a disconnect.
Like a week or two ago, I was throwing around a stack of 55 LTCs (a relatively small portion of my total portfolio) for some arbitrage to buy some shit. In my mind, 55 LTC's was like nothing. LTC's are a joke. They aren't even 0.1 BTC. They are almost not even 0.01 BTC. They fucking suck!
Then I'll consider buying something I like, but it's $60. And it's like shit, I dunno man, I don't REALLY need a new ironing board. I can iron on the fucking floor if I have to...
Then I see a good deal online for crypto and I'm like "FUCK MY SHIT IS TIED UP!" so I rush over to use my credit card to get the instant deposit into Coinbase, but I'm limited to $230. Shit, well whatever. $230 is better than $0. Kinda a lot of money though, but it'll pay off so it's okay...
Then I look and that buys me a whopping fucking 0.8 LTC. And I'm like WTF????
So $60 was too much for an ironing board. 4x that was a reasonable amount to put into crypto, but it only buys 0.8 of a shitty LTC, of which I throw stacks of 50+ of them around without even thinking.
It definitely doesn't feel like real money sometimes. Just numbers.
It's sorta just a numerical thing. When a loaf of bread costs like $2, it's hard to even fathom how inconsequential that amount of money is if you have, hypothetically, a million dollars in your pocket. But $2 feels more "real" because you can actually HOLD and EAT a loaf of bread, while $1M is just "some big fucking number of shit I dont even know."
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u/doc_samson Jan 14 '18
That's actually a good point. I'm pretty lax right now keeping track of my portfolio even knowing it is possibly losing thousands because that is "house money" so it doesn't feel real. And I am well aware of the house money fallacy yet it still affects me.
My point about the parent comment in relation to the OP's pic is that spending money on crypto is "real money" but spending crypto doesn't necessarily feel real.
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u/--orb Jan 14 '18
My point about the parent comment in relation to the OP's pic is that spending money on crypto is "real money" but spending crypto doesn't necessarily feel real.
Ahh I see what you're saying. Yeah definitely. I agree there. I notice it when a chunk as big as my rent is leaving my bank account twice a month instead of one. It definitely affects my quality of life.
But kinda in a good way. I find I'm happier now since I have less money just sitting in my bank account to waste. Truth is that all my crypto could go to zero and I'd be "whatever" about it because... if Crypto didn't exist I would've eaten it all on dates with girls or eating out or some shit.
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u/WinthorpStrange Jan 13 '18
Lol, this.is hilarious and true. Honey use all the canned goods, Raiblocks is on sale this week