Sunk cost fallacy struck me when I finally migrated crypto to a hardwallet. To save on gas/approvals, convert it all to Eth then send to the new wallet. Had to ask myself 'do I want to buy this again?' For some of those coins, answer was no. Probably would have been 'no' if I'd moved the coins when they were 50% higher, too.
Just getting over that hurdle of taking the realized loss is usually enough to make you realize how little you actually wanted to hold the name anymore.
Great post. Thank you for these reminders! Sunk cost fallacy reminded me of the time years ago a buddy and I went to see the dogshit movie “Legion”. I think we endured 45 mins of that fingernail pulling torture before we literally got up and jogged out the theater. Best part was laughing on our way out.
Sunk cost fallacy struck me when I finally migrated crypto to a hardwallet. To save on gas/approvals, convert it all to Eth then send to the new wallet. Had to ask myself 'do I want to buy this again?' For some of those coins, answer was no. Probably would have been 'no' if I'd moved the coins when they were 50% higher, too.
100%.
Just getting over that hurdle of taking the realized loss is usually enough to make you realize how little you actually wanted to hold the name anymore.
Great post. Thank you for these reminders! Sunk cost fallacy reminded me of the time years ago a buddy and I went to see the dogshit movie “Legion”. I think we endured 45 mins of that fingernail pulling torture before we literally got up and jogged out the theater. Best part was laughing on our way out.
Luckily i missed that one entirely somehow.
You are one of the few people we have heard of actually walking out of a movie regardless of how bad it is. bravo