Psychology: This is why so many people bought bitcoin

Step 1) Social proof

The principle of social proof states that one means we use to determine what is correct is to find out what other people think is correct.

The greater the number of people who find
any idea correct, the more the idea will be correct.

Step 2) Authority

Bill gates

Richard Branson

John McAfee

Peter Thiel

Step 3) Scarcity

Scarcity principle — that opportunities seem more valuable to us when their availability is limited

The drop from abundance to scarcity produced a decidedly more positive reaction to the cookies than did the constant scarcity.

Step 4) Commitment and consistency

It’s easier to resist at the beginning than at the end — Leonardo Da Vinci

Final words

Someone offering $15 per hour to talk badly about everything except Ripple(XRP) on reddit and social media

You were manipulated by yourself and others.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store