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Women and investors of color prefer cryptocurrency over stocks

deleted 5y ago
[deleted]
elliekelly 5y ago
> “There’s this whole world of information around the stock market and how to trade [and] what stocks to trade that’s full of terminology that first you need to learn and understand,” Fontes explains. “Whereas in crypto, there’s a lot more information at the basic level because it’s not at the same maturity as traditional stock investing is.” Perhaps because crypto deliberately markets itself to the uninformed investor.
- jl2718 5y ago
  As opposed to the stock market which is only propped up by the, not just pedagogically uninformed as may be the case with crypto shilling, but factually uninformed 401k and pension fund ‘investors’. Sure, many cryptocurrency investors may not fully understand the depths of each protocol, but at least the information is 100% available. The vast majority of stock investors have absolutely no idea what they are invested in, and would be unable to find much information about it if they did, and all of that is considered the main feature of stocks. Isn’t it great that you can give all of your money to a bunch of people you don’t know so that you can watch the number go up and then pay even more money in taxes every time they move the money for you? I’d be shocked if a randomly selected group of those invested in stocks would outperform a randomly-selected group of those invested in cryptocurrency, on the basic SEC investor competence test.
  - anotherman554 5y ago
    "Isn’t it great that you can give all of your money to a bunch of people you don’t know" This is how buying Crypto coins works.
  - elliekelly 5y ago
    This meme is posted on r/Binance literally every day and I think it’s pretty telling:https://www.reddit.com/r/binance/comments/opzss6/facts/ https://www.reddit.com/r/binance/comments/opzss6/facts/
version_five 5y ago
Cryptocurrency as an investment is exploitive and plays on ignorance. So groups that may be more susceptible to exploitation may be over-represented as "investors". I would be interested to see a comparison vs. lottery tickets, payday loans, and other financial exploitation. I imagine that is the real story, not the "accessibility" of cryptocurrency
jl2718 5y ago
“There’s this whole world of information around the stock market and how to trade [and] what stocks to trade that’s full of terminology that first you need to learn and understand,” Hahahaha! Wow, what a sanctimonious pandering insult! So much to unravel there.
Imnimo 5y ago
Okay but they're talking about a difference of a few percentage points, and the survey collected a lot of other demographic information. It strikes me as very unlikely that this is statistically significant. If you check every demographic split, you're likely to find a handful that show whatever phenomenon you want (in this case that crypto is more popular with group X).
B-Con 5y ago
> 41% of women and 44% of investors of color say they bought and sold crypto over the last year, compared to 38% of women and 35% of investors of color > 13% of Americans bought or traded crypto over the past year, compared to 24% who invested in stocks. These numbers don't add up at all. I suspect there's some group sampling shenanigans going on.

deleted 5y ago

[deleted]

> “There’s this whole world of information around the stock market and how to trade [and] what stocks to trade that’s full of terminology that first you need to learn and understand,” Fontes explains. “Whereas in crypto, there’s a lot more information at the basic level because it’s not at the same maturity as traditional stock investing is.” Perhaps because crypto deliberately markets itself to the uninformed investor.

jl2718 5y ago
As opposed to the stock market which is only propped up by the, not just pedagogically uninformed as may be the case with crypto shilling, but factually uninformed 401k and pension fund ‘investors’. Sure, many cryptocurrency investors may not fully understand the depths of each protocol, but at least the information is 100% available. The vast majority of stock investors have absolutely no idea what they are invested in, and would be unable to find much information about it if they did, and all of that is considered the main feature of stocks. Isn’t it great that you can give all of your money to a bunch of people you don’t know so that you can watch the number go up and then pay even more money in taxes every time they move the money for you? I’d be shocked if a randomly selected group of those invested in stocks would outperform a randomly-selected group of those invested in cryptocurrency, on the basic SEC investor competence test.
- anotherman554 5y ago
  "Isn’t it great that you can give all of your money to a bunch of people you don’t know" This is how buying Crypto coins works.
- elliekelly 5y ago
  This meme is posted on r/Binance literally every day and I think it’s pretty telling:https://www.reddit.com/r/binance/comments/opzss6/facts/ https://www.reddit.com/r/binance/comments/opzss6/facts/

version_five 5y ago

Cryptocurrency as an investment is exploitive and plays on ignorance. So groups that may be more susceptible to exploitation may be over-represented as "investors". I would be interested to see a comparison vs. lottery tickets, payday loans, and other financial exploitation. I imagine that is the real story, not the "accessibility" of cryptocurrency

jl2718 5y ago

“There’s this whole world of information around the stock market and how to trade [and] what stocks to trade that’s full of terminology that first you need to learn and understand,” Hahahaha! Wow, what a sanctimonious pandering insult! So much to unravel there.

Imnimo 5y ago

Okay but they're talking about a difference of a few percentage points, and the survey collected a lot of other demographic information. It strikes me as very unlikely that this is statistically significant. If you check every demographic split, you're likely to find a handful that show whatever phenomenon you want (in this case that crypto is more popular with group X).

B-Con 5y ago

> 41% of women and 44% of investors of color say they bought and sold crypto over the last year, compared to 38% of women and 35% of investors of color > 13% of Americans bought or traded crypto over the past year, compared to 24% who invested in stocks. These numbers don't add up at all. I suspect there's some group sampling shenanigans going on.