6 Types of People in Crypto
Being active in the crypto space for some time I met several distinct types of people. This post will stereotypically characterize six of them.
1. The Believer
The believer is someone who knows Satoshis Nakamoto's whitepaper by the hearth. He is not primarily invested in cryptocurrencies because of the chance to become very rich very fast. Rather, because he believes in the future potential of cryptocurrencies and the wide-scale adoption possibilities of blockchain in countless areas of lives.
The believer witnessed the financial crisis of 2008 and dreams of the idea that money is traded in a trusted and transparent way. He is an idealist who likes the idea that crypto/blockchain gives everybody on the planet access to value as the internet did with information. The believer sleeps very well every night contrary to the day trader whose mood depends on the price. He does not care if the Bitcoin price is $3750 or $18,000 today because, in the end, it will be $100,000 or more he is sure.
2. The Hater
The hater does not understand blockchain nor crypto. He uses the terms Bitcoin and blockchain as synonyms and is not really interested to understand the difference. For him, crypto is all fraud and speculation. He uses sentences like “there is nothing behind Bitcoin only thin air” (as if the Dollar is still backed by gold) and “Bitcoin is mainly used to pay for child pornography”.
The hater will never become a crypto believer. When blockchain technology reaches mass adoption, he will say something like “thank God this crypto scam did not work but I really like these distributed ledger technologies they made everything so much more efficient and cheaper”.
3. The Day Trader
The day trader started investing/speculating into crypto in 2017 when Bitcoin had its massive price rally to $20,000. He spends many hours on crypto news sites like Cointelegraph or Coindesk and checks Coinmarketcap nearly every 5 minutes “you know in crypto, prices can increase 25% in 5 minutes so you must check it regularly”.
His mood depends on the Bitcoin price from states between “f*** y** all I will become a millionaire on my couch you idiots” to “oh shit I will lose everything, this market is so manipulative and the volumes are all fake”. The day trader will become either very rich or poor or dies on a heart attack in between.
4. The Scammer
The scammer is in crypto because of the money. However, contrary to the believer or the day trader he does not plan to earn his money in an honest way. What is good for the scammer is that they are many people who have zero knowledge of crypto but want to invest into it. The scammer has websites like coin.base.com (yes this dot makes a huge difference) and did in 2017 more fake ICO`s than Charlie Sheen had sex partners.
He makes a lot of fun of the people he steals money from in his dark room but always becomes paranoid when the doorbell rings, although it is only his mother who brings back his dirty laundry. His future is the worst of all groups since regulations, adoption and awareness increases day by day.
5. The Lucky Guy
The lucky guy is someone who bought cryptos, mainly Bitcoin, somewhere between 2009–2016 and sold them in the Bull Run in 2017.
Some stroke of destiny lead this guy to buy some Bitcoins. Mabey because he believed in a peer-to-peer electronic cash system or because he needed Bitcoins to buy his drugs on the dark web.
He is the reason why many people want to enter the crypto space as they hope to have the same luck. While some lucky guys saw the future potential of crypto others just had luck as the name suggests.
6. The Unlucky Guy
The unlucky guy is very similar to the lucky guy that he was in the possession of Bitcoins before the sudden rise to $20,000 but somehow did not make a big profit. There are in general 3 groups of unlucky guys in the crypto space.
The first group had Bitcoins very early and sold them with a small profit. Like buying Bitcoin at $3 and selling them at $50, not bad, but $50 is not $20,000.The second group are the people who lost their access to their Bitcoins like losing their private key or sending their Bitcoins to a wrong/dead address. The third group is, in my opinion, the unluckiest group. Those are the people who bought Bitcoin at $18,500 and thought it would rise to $50,000 and sold them during the price fall to $3000. Some of those people surprisingly became haters.
The question is what type are you?
