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Do you like crypto? Maybe you’re a psychopath

A recent study by several scientists from around the world showed interesting results. It turns out that there is a connection between the…

attitude cryptocurrency

A recent study by several scientists from around the world showed interesting results. It turns out that there is a connection between the traits of the “Dark Tetrad” and a person’s attitude to crypto. I feel you may have a lot of questions.

In April, a study by a group of scientists with a tempting title which appeared on Science Direct (platform of peer-reviewed literature): “Dark personalities and Bitcoin: The influence of the Dark Tetrad on cryptocurrency attitude and buying intention». “Dark personalities”, “Dark Tetrad”, sounds very mysterious and a little creepy. And what does Bitcoin have to do with it at all? Don’t worry, I’ll disclose everything. Let’s take it in order.

So, Bitcoin is a cryptocurrency designed to… haha, I’m kidding, you already know that (I hope). The term “Dark personalities”, in my opinion, is also understandable, they call personalities with “dark” character traits. But I will tell you more about “Dark Tetrad”.

So, what is “Dark Tetrad”? If you are not interested in psychology, then this term probably won’t tell you anything. But, amateurs and experts have already made a connection with “Dark Triad” (I’ll explain now, don’t worry). “Dark Triad” is a set of character traits that are considered as… yes, you guessed it — dark. These include Machiavellianism, narcissism, and psychopathy. And, in the case of “Dark Tetrad”, sadism is also added to all of the above. All these character traits are called dark, because they are associated with “negative” qualities in people. “Dark Tetrad” can reveal itself in extreme selfishness, taking advantage of others without empathy and risk-taking behaviours.

So, “Dark Tetrad” was sorted out. But what does it have to do with us, crypto lovers? You and I know that the cryptocurrency market sometimes resembles a roller coaster. Investing in some cryptocurrencies can be very risky. And, risky behaviour, as we already know, is one of the manifestations of “Dark Tetrad”. The authors of the study — Brett A.S.Martin, Polymeros Chrysochou, Carolyn Strong, Di Wang and JunYao — performed a survey to find out who is more willing to take risks and, as a result, show an interest in cryptocurrency. As it turns out, crypto lovers have more in common with “Dark Tetrad” than one might think.

The researchers identified two main areas that attract people with traits of “Dark Tetrad” in cryptocurrency. Firstly, the high risks and high potential returns of crypto trading attract gambling enthusiasts. Secondly, cryptocurrencies are not issued and are not supported by governments like traditional or fiat currencies (but there are exceptions). This attracts those who do not trust the government.

Scientists performed a survey in which 566 people were asked about their attitude to cryptocurrency. The results showed that 26% already have a cryptocurrency, and another 64% are interested in crypto investments. The same respondents then took part in standardized psychological tests to measure the features of the dark tetrad. The researchers also measured traits that might connect the dark tetrad to judgments about crypto: fear of missing out (FOMO; fear of missing out on benefits that others will get), positivity (the tendency to be positive or optimistic in life), and belief in conspiracy theories.

Now, answer the question. Why are you investing in the crypto? I suspect that the reason is the desire to make a profit. But, as the study showed, it’s not just that. Scientists have come to the conclusion that investing in the cryptocurrency is sometimes stimulated by dark character traits.

Next, let’s go back to psychology and remember what Machiavellianism is. Machiavellianism is named after the Italian political philosophy of Niccolò Machiavelli. Machiavellians are characterized by prudence and belief in conspiracy theories. They are not characterized by impulsive behaviour, they are less prone to gambling and they are good at deceiving and manipulating people.

And what did the researchers find? «Machiavellians like crypto primarily because they distrust politicians and government agencies. Many crypto supporters believe governments are corrupt, and crypto avoids government corruption.»

So we dive into psychology again. Now let’s touch on narcissism. Narcissism is an egocentric personality trait. Narcissists tend to think that they are better than other people, they are self-confident, not afraid to take risks, and they also tend to focus on the positive side of life. Researchers have found that narcissists love cryptocurrency because they believe in future life improvements that cryptocurrency can bring.

Congratulations, you have reached the point where my clickbait header justifies itself. Psychopathy. How many feelings this word evokes. And this word denotes an impulsive, heartless and antisocial personality trait. Psychopaths often lack emotional intelligence, which manifests itself in a lack of empathy. Psychopaths have a hard time coping with their emotions, but their reckless nature makes them more resistant to anxiety and stress.

Also, psychopaths seek stimulation and risk. They are prone to gambling and gambling addiction. I think you’ve already figured out where everything is going. Scientists have found that “impulsive psychopaths like crypto, because they fear missing out on investing rewards that others are experiencing.”

Well, the fourth “friend” of the crypto lover is sadism. It is about people who love other people’s suffering. They are aggressive and cruel. It would seem, what does cryptocurrency have to do with it? Sadists will not miss the opportunity to mock narcissists who did not have time to benefit from the jump of some cryptocurrency. But, sadists themselves experience FOMO. Scientists also have noticed that “Unlike narcissists, both psychopaths and sadists lack positivity about their prospects, which cancels out their liking of crypto.”

Here the connections between the crypto and the dark tetrad:

Well, this study was published and here is something to think about. If you found something familiar in yourself in the process of reading this, then you should probably talk about it with your psychotherapist. I should also add that the selection was not the largest by the standards of sociological research, the citation of the article is quite low. Therefore, you should not take this study too seriously. It is quite possible that the connections are not as obvious as the authors have described them.

If you want to take a couple of tests and find out what features of the dark tetrad are inherent in you, then follow the links: Dark Triad Personality Test, Sadism test. Well, I will try to calm down my dark traits and continue to observe. See you soon!