Cryptocurrency Rewards Those With Diamond Hands
Updated: Nov 3, 2021
We live in a world where there is an incessant desire for instant gratification. More often than not people seek to experience fulfilment or pleasure without delay; when they want something they want it now. Its interesting that this often happens with an acceptance that there will be a foregoing of a future benefit in order to obtain a less rewarding but immediate benefit, whether it be entertainment, food, sex or in the context of this article cryptocurrency investing. Such as when a crypto degen blindly apes into the latest hyped up meme coin in the hope that it will instantly 'go to the moon', rather than applying some independent research and make investment decisions based on sound fundaments and then be prepared to wait for it to evolve, grow and hopefully become profitable.
It’s a natural human urge to want things now, but you will often receive more benefits if you wait. The obverse version of instant gratification is delayed gratification, it’s easier to see the benefits of delayed gratification but we struggle daily with the temptation to give in to our immediate desire.
Instant gratification is one of the most basic drivers in humans; it is the innate desire to experience pleasure and avoid pain.
A study at Harvard University looked at chocolate consumption. The study had two groups: Group A had access to unlimited chocolates that could be consumed and Group B had no access to chocolate at all.
After the study, both groups were offered some chocolate; Group B reported a higher level of happiness, plus they savoured the taste more, and those in the group were in a better mood afterwards. This study highlights what people think will make them happy isn’t always what will, and in fact you can have too much of a good thing.
It has also been found that by slowly and strategically watching TV shows has the effect of building excitement, as opposed to being able to binge on all the episodes over a single weekend.
If we experience more happiness through delayed gratification, why is it so difficult to choose delayed over instant, and is this a problem ingrained in today’s society?