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Not really, first of all when SEC warns it is usually when people already actually get scammed. Second - if my father kept telling me "son, don't go there" I wo

Not really, first of all when SEC warns it is usually when people already actually get scammed. Second - if my father kept telling me "son, don't go there" I wouldn't know why, and how to distinguish safe places from unsafe. All I mean is that by scarring you don't protect people from being defrauded. And I wouldn't care if I'd like to see people being defrauded, but in fact I do care, and don't find the "scarring/warning approach" to be working.

maksimum 9y ago
Since you made the same mistake twice: scarring ~ creating scars; scaring ~ frightening.
nacho2sweet 9y ago
My dumb friends can go get defrauded all they want, but if they know it is a bubble, and know they are mostly likely in the gambling unINformed losers end of the deal they will probably only get defrauded and gamble with what they are willing to lose. Like going to a casino.
soundwave106 9y ago
What is wrong with the SEC's statement on Bitcoin? (https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11 https://www.sec.gov/news/public-statement/statement-clayton-...) My opinion is, if you read that and believe this is the SEC attempting to merely "scare" you, that you really shouldn't be investing in Bitcoin. None of their statements seem incorrect. Bitcoin is new, but it is most similar to forex IMHO, and all the disclaimers to forex apply. Forex has higher than average risk, particularly in developing countries where volatility can be very high -- the possibility of losing almost everything is above average. It is also quite a bit more prone to scams compared to other investment platforms. It can work out well, but I wouldn't plunge into forex without doing a heck of a lot of research, and I wouldn't bet the farm on a single forex investment. That applies to Bitcoin too. But there are some additional specific risks not linked to forex though. With forex, you can use various economic indicators of the nation of the currency to attempt to make a more solid investment. I'm not sure what economic indicators are out there to help with Bitcoin. Bitcoin's not backed by any government, furthermore, so there is higher risk for government intervention as we've seen to some degree in China and South Korea, which will at the very least cause greater volatility. Furthermore, bitcoin has a huge disadvantage compared to forex right now: it is relatively illiquid. All that adds up to a very risky investment from my perspective at this point. Some might be willing to take the plunge anyways. But the office talk I hear on Bitcoin is way too casual compared to the actual risk.
IncRnd 9y ago
In all your posts you write "scarring". I think you mean "scaring," if you refer to what which will scare. Scarring somebody means they are being scarred.

maksimum 9y ago

Since you made the same mistake twice: scarring ~ creating scars; scaring ~ frightening.

nacho2sweet 9y ago

My dumb friends can go get defrauded all they want, but if they know it is a bubble, and know they are mostly likely in the gambling unINformed losers end of the deal they will probably only get defrauded and gamble with what they are willing to lose. Like going to a casino.

soundwave106 9y ago

What is wrong with the SEC's statement on Bitcoin? (https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11 https://www.sec.gov/news/public-statement/statement-clayton-...) My opinion is, if you read that and believe this is the SEC attempting to merely "scare" you, that you really shouldn't be investing in Bitcoin. None of their statements seem incorrect. Bitcoin is new, but it is most similar to forex IMHO, and all the disclaimers to forex apply. Forex has higher than average risk, particularly in developing countries where volatility can be very high -- the possibility of losing almost everything is above average. It is also quite a bit more prone to scams compared to other investment platforms. It can work out well, but I wouldn't plunge into forex without doing a heck of a lot of research, and I wouldn't bet the farm on a single forex investment. That applies to Bitcoin too. But there are some additional specific risks not linked to forex though. With forex, you can use various economic indicators of the nation of the currency to attempt to make a more solid investment. I'm not sure what economic indicators are out there to help with Bitcoin. Bitcoin's not backed by any government, furthermore, so there is higher risk for government intervention as we've seen to some degree in China and South Korea, which will at the very least cause greater volatility. Furthermore, bitcoin has a huge disadvantage compared to forex right now: it is relatively illiquid. All that adds up to a very risky investment from my perspective at this point. Some might be willing to take the plunge anyways. But the office talk I hear on Bitcoin is way too casual compared to the actual risk.

IncRnd 9y ago

In all your posts you write "scarring". I think you mean "scaring," if you refer to what which will scare. Scarring somebody means they are being scarred.