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@ George Vaccaro
2025-05-27 10:43:27
Coining some new terms this morning.
"Nocoiner fallacy": a most severe form of sunk costs fallacy regarding the series of cascading and stubbornly repeated decisions to completely deny one's own portfolio from benefitting from Bitcoin despite its historic ascent.
And the most severe form:
"Peter Schiff Syndrome" (PSS), is based on a similar underlying thought credited to Upton Sinclair - "You'll never get a man to admit a competing product is superior to one that his livelihood depends on" which is somewhat universal. In this particular case this extension can be added "even when the competing product is extremely or arguably more aligned with his stated core principles".
Everyone gets the price they deserve.
https://helpfulprofessor.com/sunk-costs-examples/
https://quoteinvestigator.com/2017/11/30/salary/