That's a fallacy into which they're falling. Not a logical one, just a mental fault in their thinking.
You and everyone else around you are always missing out on life-changing money.
I missed out on GameStop when it was $4. Roaring Kitty was posting on YouTube then... but I didn't know about him. I didn't hear anything about GameStop until it was already in the hundreds of dollars. I missed out on Tesla. I missed out on Microsoft, Apple, Apple's resurgence in the 90s, etc.
There's always going to be some thing that everyone misses out on.
I'm biased, because I've been mining Bitcoin since 2010, starting with an old Asus Core2Duo laptop, then I got a Butterfly Labs Jalapeno miner, and then the Chinese miners took over the scene and I got out because I didn't see the point trying to compete with them.
But I'm still missing out of all kinds of life-changing money scenarios even today. And so is everyone else.
Yes, this is true of course. FOMO is a fallacy. Nonetheless, I think it does play a role in the nature of bitcoin criticism, which I otherwise find is somewhat odd and repetitive and moralising. You clearly don't have this problem - I think it is most severe in those people that never owned any bitcoin.
>There's always going to be some thing that everyone misses out on.
Definitively, I don't have enough money to execute all the possible investment strategies I want to follow up on.
It's also weird that the bet size is being ignored. With Bitcoin your maximum bet size is much smaller than with stocks because of the high risk. I can put more money into stocks because they are less risky and thus I can actually end up being exposed to greater gains.
You and everyone else around you are always missing out on life-changing money.
I missed out on GameStop when it was $4. Roaring Kitty was posting on YouTube then... but I didn't know about him. I didn't hear anything about GameStop until it was already in the hundreds of dollars. I missed out on Tesla. I missed out on Microsoft, Apple, Apple's resurgence in the 90s, etc.
There's always going to be some thing that everyone misses out on.
I'm biased, because I've been mining Bitcoin since 2010, starting with an old Asus Core2Duo laptop, then I got a Butterfly Labs Jalapeno miner, and then the Chinese miners took over the scene and I got out because I didn't see the point trying to compete with them.
But I'm still missing out of all kinds of life-changing money scenarios even today. And so is everyone else.