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This is a dangerous way to legitimate peoples loss. Not only is it encourages to put all you eggs in one basket, it is also society facilitated to do it with a
by madsbuch 5y ago
This is a dangerous way to legitimate peoples loss.
Not only is it encourages to put all you eggs in one basket, it is also society facilitated to do it with a 5, 10, 15 x gearing.
Yes, I talk about real estate.
- krono 5y agoYes, it was rather late when I wrote that comment, but that's essentially what I was trying to say. Of course these people did this to themselves, but perhaps they shouldn't have been able to pile on this much risk, or even have had this type of trade available to them in the first place due to suffering from diagnosed mental health problems, or for having recently displayed behaviour that is indicative of addiction. The crypto exchanges are also ridiculous. 125x Leverage on Bitcoin, available to anyone who wants it with only a cursory ID check. Most of these apps are also plastered with ads for their own internal gambling products (e.g. "Battle to win, long vs short").
- naveen99 5y agoIt’s not really that much leverage if you go by lifetime earnings / savings potential. which is why you won’t get the same loan without a proportional w2 or otherwise taxable income.