Are Bitcoin (BTC) investors psychopaths?
The analysis was published on the media The Sun, which does not always bother with subtlety when it comes to cryptocurrencies. We learn that a group of scientists questioned more than 500 investors in crypto-assets, and that they concluded that they shared troubling traits. According to the New York Post, which reports the publication:
“They identified that many investors exhibit traits related to the “dark triad”, a group of unsavory traits compounds of Machiavellianism, psychopathy and sadism.»
In short, Bitcoin investors might derive pleasure from the suffering of others, and find it difficult to have empathy. Furthermore, they would have a tendency to manipulation.
So is the ecosystem filled with psychopaths who covertly aim to make others suffer? Looking more closely at the study, there are some (very) big exaggerations.
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What does the study say?
First of all, of the 566 people interviewed, only one in four actually hold cryptocurrency. The remaining two-thirdshave shown an interest in investing in cryptocurrencies“. And the last third is neither an investor nor interested in cryptocurrencies. Rather thin therefore for a study that titles “Dark personalities and Bitcoin”…
Then we learn that these traits are not necessarily linked to negative beliefs. The “Machiavellian” aspect is thus compared to a lack of confidence in the institutions:
“Machiavellians – who are good at deceiving others and have calculated approaches to achieving their goals – like cryptocurrency mainly because they don’t trust politicians and government agencies.»
Indeed, according to Dr. Wang, head of the study, many crypto enthusiasts believe that governments are corrupt and that cryptocurrencies prevent corruption.
As for narcissiststhey are attracted to technology, because they tend to focus on the positive aspects of life.»
We therefore tremble with fear in the face of personalities who are wary of corruption, and who like to focus on the positive aspects. But that’s not all. We learn that impulsive and sadistic psychopaths have “a taste for risk that causes them to fear missing out on investment-related rewards“. FOMO as a form of psychopathyin short…
To summarize: investors in Bitcoin (or more generally those who are interested in cryptocurrency) are wary of governments that they consider corrupt, are passionate about technology that they consider positive, and have a certain appetite for risk. That would make psychopaths, narcissists and Machiavellians.
Fortunately, Doctor Wang reassures us: no, Bitcoin investors are not all like this:
“If you are a bitcoin or crypto holder, it is not certain that you have these traits.»
We therefore thank Doctor Wang, who tells us that the Bitcoin and crypto ecosystem is not necessarily filled with psychopaths. We therefore place this study firmly in the “FUD” category. And we regret that if cryptocurrencies are gradually getting rid of their sulphurous reputation, it is sometimes a slow process for some…
👉 Also read – 41% of crypto investors did not own assets before 2021, Gemini survey finds
Source: The Sun, ScienceDirect
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