>The problem with this characterization is when enough people lose their shirts on leveraged crypto purchases, a problem of individual finances becomes one of c

>The problem with this characterization is when enough people lose their shirts on leveraged crypto purchases, a problem of individual finances becomes one of collective policy. I'd be careful with dismissing the problem as one contained to the stupid. It's probably worse than that. The collective craze around crypto is likely spurned by social media influence tactics. Most of this is from me just reading the forums as I obviously don't have proof, but along with ICO scams, exchange failures, software vulns, and SEC cautionary notices, there's enough for me to be broadly suspicious that these tactics are at least partly coming from the top owners of bitcoin who are manipulating the price. You have to make huge efforts to pretend that a currency with virtually no regulation around it that works across borders has only honest actors trading on honest information. And low-dollar investors are certainly not going to band together and run price manipulation schemes. And this will be utterly dumb if the major banks get involved significantly.