Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on October 04, 2020, 09:26:45 PM

Title: FOMO in crypto
Post by: MrSpasybo on October 04, 2020, 09:26:45 PM
We have a lot of markets: stocks, real estate, travel, education, food ... but there has never been a big FOMO like with crypto. Where do you think the cause of this is? Is it possible that the less we know about something, the more vulnerable we are to FOMO? Do you think with the pervasiveness of education related to blockchain/crypto, new entrants in the future could avoid FOMO?
The truth is that as a bounty hunter, I also get FOMO when reviewing campaigns :)

(https://steemitimages.com/DQmc1jkpcFZPay2pR8EFYgVYr96qmV6DPpjmp3CVDgRwEue/IMG_0110.JPG)
Title: Re: FOMO in crypto
Post by: Bobcrypto on October 04, 2020, 10:43:28 PM
Quote from: MrSpasybo on October 04, 2020, 09:26:45 PM
We have a lot of markets: stocks, real estate, travel, education, food ... but there has never been a big FOMO like with crypto. Where do you think the cause of this is? Is it possible that the less we know about something, the more vulnerable we are to FOMO? Do you think with the pervasiveness of education related to blockchain/crypto, new entrants in the future could avoid FOMO?
The truth is that as a bounty hunter, I also get FOMO when reviewing campaigns :)

(https://steemitimages.com/DQmc1jkpcFZPay2pR8EFYgVYr96qmV6DPpjmp3CVDgRwEue/IMG_0110.JPG)

Honestly, there is actually no big deal about FOMO, it is normal market situations that affect everyone especially on crypto ecosystem. Obviously, the crypto prices conditions has made every enthusiast to think that he or she may be missing on a possible prices increase or bull market. Infact, there are possibilities of a bull run on the crypto prices at any time which nobody can predict, and based on this, FOMO become a possible outcome. The 'fear of missing out' is also noticed on other markets and not only crytop, it is normal. Thanks
Title: Re: FOMO in crypto
Post by: TomPluz on October 05, 2020, 05:56:47 AM


FOMO happens due to many factors. One of the most notable with those factors is the deregulated nature of this industry. In other industries, making FOMO can be subject to investigation and yes even prosecution all because investors can be misled and deceive to go into something not based on facts but just lies and emotions. Here in cryptocurrency, this has become like an open field and because of this situation scammers and hackers and all types of fraudsters are taking a comfortable and profitable residence. Sad but true.
Title: Re: FOMO in crypto
Post by: Jaephoenix on October 05, 2020, 11:44:52 AM
FOMO is a regularly normal sentiment everywhere, even in non-financial cycles and in everyday human endeavor. We experience it everyday and every time. I don't think crypto has more FOMO
Title: Re: FOMO in crypto
Post by: ashraf786100 on October 05, 2020, 03:18:40 PM
The most notable of these factors is the formal nature of the industry. In other industries, the formation of FOMOs may be subject to investigation and may even be prosecuted as investors may be misled and not based on facts but on lies and emotions. Can be deceived to go.
Title: Re: FOMO in crypto
Post by: Fivestar4everMVP on October 05, 2020, 04:42:06 PM
Crypto of this time is just what it is, we all FOMO, sometimes, when I want to choose a project to join their signature campaign on BTT, i feel like to join one and still have space to join another cus it always feels like the other is better than the one I've chosen to join.

As long as new projects keeps springing up every now and then in crypto, this FOMO thing will continue for as long as the projects keep coming.
Title: Re: FOMO in crypto
Post by: Riya143 on October 05, 2020, 05:00:25 PM
FOMO occurs for a variety of reasons. The reason is that it depends on the nature of the development of the industry. There are many benefits to scammers and there may be lawsuits due to enforcement. This may be due to a mistake. This could be due to any kind of wrong decision. So I think by reviewing more about FOMO and investors can be confused. All kinds of fraudsters are taking profitable accommodation. What is your opinion?
Title: Re: FOMO in crypto
Post by: pornflixandchill on October 05, 2020, 05:02:56 PM
i believe if BTC can smash through 13k, then there will be a huge wave of FOMOs

Let's see...

Title: Re: FOMO in crypto
Post by: masterrex on October 05, 2020, 06:02:04 PM
The FOMO in the crypto industry is always present especially if there was a "HYPE". I think it because in cryptocurrency investment the profit is big and easy to gain But before you can gain any profit you need to invest first or you need to gamble especially in a particular token that was very popular at that time, in that case, the Fear of Missing Out or FOMO is already influenced you to buy that particular token and suddenly Bang! Instantly you become a victim of a Notorious FOMO! so Beware as always stay away from FOMO! 
Title: Re: FOMO in crypto
Post by: hair on October 05, 2020, 07:35:38 PM
do people like to follow FOMO? many people are afraid of losing the trend and joining in. But what needs to be considered is the right decision our actions
Title: Re: FOMO in crypto
Post by: Renampun on October 05, 2020, 11:12:47 PM
Quote from: Jaephoenix on October 05, 2020, 11:44:52 AM
FOMO is a regularly normal sentiment everywhere, even in non-financial cycles and in everyday human endeavor. We experience it everyday and every time. I don't think crypto has more FOMO
You're wrong, nowadays crypto has a lot FOMO...
we just pay attention when DeFi is as excited as it is today, so many don't want to be left behind and try to take advantage of the market.
Title: Re: FOMO in crypto
Post by: TERMINO on October 06, 2020, 04:10:02 PM
Most likely, FOMO is taking advantage of what we think the best one over the other. Sometimes it is an open opportunity to join where the masses is going. However, everyone must be vigilant to anticipate the danger(instant zero) in FOMO through observation and transparency if possible.