You Shouldn’t Be Ideologically Committed to Crypto Projects

So one thing that is interesting about (retail) crypto investors is that they kind of treat these projects (a.k.a. coins/tokens) as sporting teams. That is, they are very much committed (a.k.a. all-in) on believing the team and the projects and view this type of loyalty as some sort of a virtue. This is in contrast with the industry (minus Michael Saylor) who treats the whole industry and investment with cold, rational outlook. They don't give a shit about loyalty, devotion, to the projects. If the project can yield them money, they buy, and if not, they dump. So I would argue that retailers have this sucker's mentality when it comes to investing crypto. And this stems from a couple of reasons.

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1. Cryptocurrency is outside of mainstream which attracts fanatical devotion. People tend to get really into music/art/etc that are outside of mainstream and get really fanatic about it. Same with crypto. They like the idea of being part of something from the ground level up (even though retailers most likely FOMO in) and as such, they become emotionally attached.
2. Many crypto investors are young. Youth isn't bad. But people who are younger (early 20's, mid 20's) tend to associate their "hobbies" with their identities. So the same type of connection begins to develop with their investments. People who are a bit older just treats all investments (e.g. gold, stocks, crypto, bonds) as a means to an end. People who are younger treats these investments similar to how fanatics treat their sports teams.
3. Tribalism attitude is brainwashed by early investors. Crypto might not be a ponzi scam but there are certain aspects of ponzi about it. As such, in online forums, you see that people encourage tribal attitudes about the projects because they always need new investors (a.k.a. suckers) to join in and to keep the prices moving upward. And many of the investors buy into this non-sense tribalism.
4. American attitude. I noticed that there is a very distinct difference between Western (mostly American?) vs Eastern investors. In the East, even the young people do not have a tribal devotion towards certain projects. They tend to just see the whole industry as a means to profit and are not interested in the intricacies of the projects. And perhaps this type of "loyalty", "devotion", "tribalism" is more suitable and works well towards young, American investors who really suck up these type of tall tales.

In general, investing is all about making money and nothing else matters. Don't be ideologically committed to crypto projects. They are not looking out for your interest and you should treat them as a means to your own end and be always ready to dump on them. Happy investing.