Blinded Crypto Investors
Going back around one thousand years, there was this dude Basil II - Emperor of the Byzantines. The guy has a lengthy Wiki-page for a reason, did a ton of stuff over his lifetime.
During his reign the Empire grew in size a bunch, the man was a mover and shaker. Big, important Emperor. Also an almost cartoonishly evil emefer. Just how evil, you may ask?
Bulgarians have a history of scuffling with Byzantines. One of their great revolts happened to coincide with Basil's reign.
He didn't make it pretty.
15 000 Bulgarians were taken prisoner and broken into groups of 100. Then 99 of every 100 men were blinded, leaving a one-eyed man in each cohort to lead them back home.
Is this a true story? Dunno. Although it does remind me of the current Crypto-Investment landscape.
We too have cohorts of 99 blind investors and one-eyed evangelists leading them to riches. Only these folks are blinded willfully: they avoid educating themselves and rely on whatever number they read on a listing site they fancy.
Some might get places through combination of luck and the one-eyed fella having a clue. Most are gonna get lost along the way and perish.
It's not gonna be pretty.
Moral of the story? Don't join cohorts. Do your own research.
Didn't know that story about Basil II, thanks for the info.
The parallelism you made is right, but it's not only for crypto, it's for all sorts of investments
Fair point. I think in most human endeavors we end up with this sort of mentality, honestly.
The reason why that emperor did that it's because that way the bulgarian people had to assist to that enormous quantity of blinds instead of keep with the revolt. He managed his purpose.