The madness of digital property collectors

[FourCrossedWands]

So, in recent years, there has been this trend of people buying digital property such as domains, cryptocurrencies, NFTs, etc. without the intention of actually selling them.

It goes like this: Someone thinks he/she is smarter than the rest of 8 billion people and buys a domain or digital token that has literally zero value and then resells it for millions of dollars.

The best example are .com domains. I have contacted a couple of owners of domains that I have been interested in, where the value was around 5k at max. They replied to my offer with a counter offer of one million dollars, or similar. Then stopped replying to any other of my offers. This has happened to me couple of times.

Same goes with Bitcoin. People buy it, hold it and never sell it to actually make any profit. Then one day, they lose everything.

I don't understand the logic behind this. Don't they realize they will never sell their domain/token and just lose their money?

This is a situation when the Ego gets completely out of control.

[Sucuk Ekmek]

19 hours ago, FourCrossedWands said:

I don't understand the logic behind this. Don't they realize they will never sell their domain/token and just lose their money?

This is a situation when the Ego gets completely out of control.

I don't think they will just lose  money. They  changed the form of their money.

[FourCrossedWands]

17 hours ago, Sucuk Ekmek said:

I don't think they will just lose  money. They  changed the form of their money.

No, they will never sell their digital token for one mil, neither will the sell their domains for that price. They have already lost their money.