You should take a look-see around r/ethtrader just for kicks. Not only are they falling for all the old scams, they're recycling all the old memes. It's surreal.
Yeah I noticed that too. That community also has no idea that the majority of the cheerleading posts, good news posts, comedic posts, and "chin up" posts are posted by nefarious troll traders that are using social engineering tactics to manipulate that community to continue to either a) stay invested: hodl or b) double down on every dip, even if the trend is moving down. They have no idea just how far the price can fall over a longer stretch of time.
I have seen the same scam tactics used in other altcoin reddit pages and alt forums as well. Everyone believes that their special snowflake that they've put money into is truly special and will completely dethrone Bitcoin one day. At least they believe that until the price has finally fallen far enough, over a long enough period of time, that they have to accept the reality that it was all just a shared delusion.
The human brain has an incredible capacity to rationalize an otherwise irrational/illogical position, especially if it has real money behind it, and will consume any bias information that supports that position and reject any other that doesn't.
Couldn't the same be said of Bitcoin holders though? I am an avid BTC holder myself.
