The Psychology of Bitcoin investing — Why you should care about the marketing of Bitcoin

The Psychology of Bitcoin investing

After @ElonMusk invested 1.5 Billion USD into the cryptocurrency Bitcoin, Bitcoin reached an all-time high. The FOMO spread around his fans and the press covered Bitcoin widely. Of course at a time when bad China news where spreading quickly about problems of $TSLA in China.

A perfect timing to shift the awareness into the cryptocurrency Bitcoin. It was and nobody doubts that so far a success.

But why are people wild about a currency that does only exist digital?

If there comes any doubt about the Bitcoin there are hundreds of people who just defending “their” currency. The currency that should give their eyes protection of the inflation and money system.

Basically, everyone is bullish about Bitcoin with the usually constant bla bla prayers that it is limited(which is actually not the case. If the Bitcoin community agrees, hello Bitcoin 2.0, Bitcoin 3.0) and so on. I guess you all are familiar with the bullish arguments because they repeat it again and again on social media.

But then I received a newsletter from some travel bloggers. They now get constantly asked about “what can we do to save our money?”.

The question is, why are people afraid of loosing their money? Money is not something you should hold onto. With money, you can direct your attention and invest in yourself, companies or other things to improve your life or the life of others. It’s simple not meant to put away and hide it somewhere. The travel bloggers solution was making a webinar for $49 and speaking about Bitcoin. Of course with “famous” Bitcoin trolls of the scene. So travel bloggers are now recommending Bitcoins as a safe heaven. But as far as I know nobody has yet found a safe heaven.

Basically that was the moment when I needed to dive deeper into the Bitcoin as digital currency. What makes people believe the solution to overcome a financial crisis is Bitcoin?

But what I came across was far more than just an alternative investment strategy. It soon developed into an investigation that could lead to one of the biggest frauds in the 21. Century.

Why are people investing into a thing that only exist digital? That gives no value to anything. The marketing must no doubt be phenomenal.

And especially the self-sustaining influencer marketing of Bitcoin has taken over all risk about that digital currency.

Crypto Exchanges

The bitcoiners spread the doubts that the money system aka fiat currency can collapse and with Bitcoin you can be safe. On every critical comment about Bitcoin comes automatically (hello bots and laser eyes) ten times positive commentaries.

Not to mention the greedy people that always are bullish in order to get their new lambo. (A lambo that you buy with real money actually. And no even a Tesla is likely to sell those bitcoins for cash immediately. That is usually done by sending the funds through a payment processor first.)

So the influencer marketing about Bitcoin is at the highest stages. No doubt about the fact that big cryptocurrency companies are putting a lot of their profits into influencer marketing.

So probably every one with a few followers was already targeted to promote some cryptos. So far it seems it’s very successful to blind the people. The influencers spreading the Bitcoin FOMO widely.

But why is it that people believe in all their sayings? Is it the belief that you can get rich fast and have a better life? Underlying with faked Instagram accounts with wealth and riches? To suggestion, you can only be happy if you have that kind of wealth? Is it raising the greed that is inside us all? To get rich fast and overcome all our suffering?

Unfortunately there is a common secret. For everyone who is buying Bitcoin in, people are cashing out. Those people are the only one who won’t lose it all.

Safe that sentences. Think about it. Meditate about it.

We need more people. Desperately.

But wait. Nobody of the most influencers are saying to cash out. Hodl. Hold is the only thing that you are hear. Laser eyes, suggestion that you are not alone. You are part of a new technology era.

You are part of a group of individuals and will make a lot of money. And this is of course only the beginning. With the fastest transaction of wealth in history.

Very often compared to the beginning of the internet, technology companies and so on. You all know the arguments.

The fear of missing out is spread widely. We are all together in this investment and Hodl. My goodness the marketing works as self-sustaining. People really believe that.

So just to make that clear again. If you hold your Bitcoin or whatever crypto that you’re in, there is no wealth at all.

It’s just a number.

Mostly in some shady offshore companies. Based in HK, Seychelles, Bahamas and so on. Or maybe you’ll have it in your “digital wallet”. But it’s still just a USB stick. You haven’t cashed out. It’s still just your application that holds a number.

Think about, who will give you your money? You will have to go to a crypto exchange and change it back to money. So if you look into that simple image above. If the shabby crypto company buys some Lambos with it, where does the money come from?

The money comes from you. In an instant you can lose it all. No regulations. No one that backs your back. If they will not be able to pay back the cash. If a lot of people want to cash out, the crypto exchanges will with a high probability just shut down and block every transaction.

Our greet and desire for a better life. For a life of wealth and riches has taken over all critics. All our doubts are gone. So many people with laser eyes can’t be wrong. We are blinded by our own emotions.

Social media has taken over our own thinking. We don’t see manipulation anymore. Or we don’t want to see. Everyone is hodl. So we also need to hodl. Aren’t we?

But what if WE are the one, who will lose it all in the end?

And why should that be? Bitcoin is of course only going up. Ok let’s look into the next picture.

Coinlib.io picture of the money flow from/to Bitcoin

So in this image you see the money flow to Bitcoin in the last 24 hours. We have US Dollar, Euro, Japanese Yen, British Pound,…, flowing into Bitcoin and out. But wait. What is this blue thing that is used to buy more than 80% of the Bitcoin? Tether?

Is this an another fiat currency that I didn’t hear about? It’s just a “digital currency” you idiot. A stable coin. Of course. But wait. A digital currency is buying a digital currency? Mh. Sounds stupid.

Would an investor not just invest in Bitcoin directly? Without paying another transaction fee for buying a different crypto?

Probably there is something I don’t see yet. So what is this tether virtual currency? Probably people buying tether with US Dollars right?

I’m sorry to disappoint you. But there is no one that is buying tether. They can issue tether without someone buying in. They can just print it. It’s just an offshore company. They claim (the better word would probably be lie) that it is backed by real US Dollars. The investigation of the New York state office found out that this is not the case. If you read the PDF settlement your alarm clock should be ticking right now.

That can not be of course. You’re just a FUDler. Look we have laser eyes and it only will go up. Of course, it only HAS to go up.

Just to make that clear.

~80% of the trading of Bitcoin comes from an unbaked virtual currency that is handled by an offshore company. No real US Dollars are behind that. No regulation.

Is my Bitcoin investment really a good idea?

Come on, all the hodlers can’t be wrong. It only goes up. It has it’s volatility but in the end I will be rich and you will be a poor FUDler. Have fun staying poor.

Yes it only goes up as long as there comes money into the bitcoin trading system. And you need someone that puts money into it because remember:

For everyone who is buying Bitcoin in, people are cashing out. Those people are the only one who won’t lose it all.

But the market capitalization is at its highest. The bitcoin value will only go up. This can’t be without me. I need to take part in it. Look at my laser eyes. I will always be able to cash out on my brokerage.

Really? Do you even know how long it will take for the cryptocurrency transactions? If a lot of people are cashing out, you will see that crypto trading platform after crypto trading platform will shut down. Your transactions will be blocked to some technical errors, hacks or other imaginary excuses.

There is no regulation. But of course you have it in your digital wallet. You are so lucky.

Why do you think so negative? Tether must be backed somehow. Bitcoin existed since years and it is only the beginning. Well maybe you should check for yourself. Don’t believe me anything. Tether must be a big company and institutional investors are dying to get to their blockchain technology and investing in the Bitcoin ecosystem.

Should we look into some SEO marketing? Yes that could be fun. So they must of course do an awesome marketing. Everyone wants to invest in tether before investing in Bitcoin. Probably paid ads that the institutional investors can find them very quickly. And buy tether before we buy Bitcoin.

Let’s look the PPC add campaign of tether.io in the US:

Mh, nothing. Is this program broken? Let’s check coinbase.com: They have an estimated PPC Budget: around $2 Million. (It should not be taken of actual stats for the advertiser. It’s an estimation of the monthly budget of the PPC campaign) Ok good, we know the programm works.

That is weird. When over 80% of Bitcoins are bought with tether someone has to buy this. And of course they can use any crypto exchange for buying the tether token. Are they?

Coinbase does not allow tether trading

And we look into that because if someone wants to buy tether they probably search something about that company before buying that crypto. But it seems like nobody is using tether. And even coinbase one of the biggest crypto exchanges does not allow trading with tether.

Maybe the SEO campaign for buying Bitcoins with Tether must be amazing.

Ok let’s look into the tether website position for the number 1 positions in Google:

Just the number ones but the others also do not suggest buying tether before bitcoin buying

Mh, it does not indicate that you should buy Bitcoin with Tether either. And the search volume is very low either. But then there is another interesting stat directly from the Tether website itself:

There we are. Here are the top Tether balances. Ok Binance. Fine. Maybe people are buying Tether on Binance and then buying Bitcoins. So lets check Binance Paid ads. Ok nothing.

Binance Paid Traffic
Binance paid traffic

Of course they are not allowed to do paid ads in the Google US because of some elaborate scheme to evade bitcoin regulators. But there was also not an indication to buy first tether and later Bitcoin.

What have these companies above in common? Is it that this are all unregulated offshore crypto exchanges? Do they work together? Or do the exchanges not all work together? Because it can only go up.

~80% of Bitcoin transaction are done with tether by unregulated offshore crypto companies

So how can that be that tether is responsible for buying this massive amount of Bitcoin? With a token and not real money.

There must be someone who wants to buy tether and then Bitcoin. Let me see the keywords of Binance for tether:

Binance Keyword with tether

Mh, the search volume is pretty low. Can you show me the search volume for buying the Bitcoin directly?

Search volume for keywords for buying bitcoin
Search volume for keywords for buying bitcoin

That is weird. If ~80% of Bitcoin transaction are done with tether why is nobody buying tether?

No, of course that can not be a course manipulation. Definitely not.

Bitcoin is our safe heaven for all our money to protect us from inflation and the central bank. That can’t be manipulated. Look how many laser eyes we have? Look how many want to buy. We hodl together peeps. In future all the investment portfolio will contain Bitcoin.

And it’s also very unlikely that they use a pump and dump scheme with tether. Just go and look for yourself. Check the phases of tether printing and Bitcoin up and downs.

It’s only the beginning. Bitcoin transactions are the future for our personal finance. We stand together. Our risk tolerance in our crypto investments will make us rich with many lambos. Who wants traditional investments? We help destroy the planet with the massive energy consumption that a Bitcoin processing holds. But we get rich. Not only the Bitcoin miner. Who needs to take care about the planet? We hodl peeps.

Meanwhile, people are cashing out.

Another Bitcoin exchange closes the door.

Another hack to cover fraudulent activities.

Another money laundering is taking place.

The crypto stock is growing.

An ETF will come and Bitcoin’s price can only go up.

Bitcoin mining takes even more energy. It can only go up.

Meanwhile, people are cashing out.

An institutional investor is buying in.

Our bitcoin wallet is happy.

In future our bank account of course too.

We will be rich people. We are still early.

Better to invest in crypto than in real estate.

Look how the bitcoin price goes up.

My balance sheet is amazing on paper.

Meanwhile, people are cashing out and buying lambos. And it’s very likely not you.

FAQ

How much should I invest in bitcoin?

That depends on how much money you want to lose. In an instant you could lose it all. Remember for everyone who is buying Bitcoin in, people are cashing out. Those people are the only one who won’t lose it all. Read this statement carefully.

What online brokers offer bitcoin?

Be extremely careful with unbaked offshore crypto exchanges. Do your research. Keep in mind that the crypto exchanges can trade against you.

Should you invest in stocks or bitcoin?

Well with stocks you invest in a promising company that can improve the life for others. In Bitcoin, you invest in a digital number.

Is investing in Bitcoin the easiest way to make money today?

In our decreasing times people want to get rich very quickly. But successful people never got rich quickly. If you get rich quickly, you’re more likely to lose it all quickly. Build up your wealth with a good hearth. Invest in yourself and improve the life of others.

Is it safe to invest money in bitcoin?

Be prepared to lose it all.

Good sources to dive deeper:

Interesting people with insightful advices to follow :

Disclaimer

The content of this post is my personal opinion and is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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Tobias Gerard

Life is an opportunity to create meaning. Now I’m just doing what I want. #love #writing #helpingothers