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I think you just proved my point. These people were so enticed by the idea of “getting rich quick” that they bought worthless tokens that gave them ownership ri

I think you just proved my point. These people were so enticed by the idea of “getting rich quick” that they bought worthless tokens that gave them ownership rights to nothing. Since they lack the sophistication to understand they were being scammed...why do you think they would have any understanding of classical valuation models?

chrisco255 8y ago
Nobody understands cryptocurrency valuation, this is a brand new asset class. Whereas, stock investing is pretty mature at this point. People bought and flipped real estate in the 00's in a bull market only to see it all crash in 2008. Bubbles happen. Doesn't mean you cut out everyone who doesn't have $1 million in the bank. That's like only letting skinny people eat healthy food.