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I have been to a few crypto meetups and seen people just talk about buying and selling tokens/cryptocurrencies without knowing more than the name of the currenc

I have been to a few crypto meetups and seen people just talk about buying and selling tokens/cryptocurrencies without knowing more than the name of the currencies. They are betting on software in alpha phase without knowing anything about it, or any detail about the cryptography, concensus mechanism or coding practices they use. There are valid concerns with any asset where people want to store their wealth (which is at the same time a basic human need), but it's hard to reason with peope who are not interested in discussing those concerns.

manquer 5y ago
Even developers who work on smart contracts don't understand the intricacies of the consensus algorithms and cryptography. These are hard subjects your average developers rarely work on, and is usually smart enough to know not to roll their own. Everyone in the market just is gambling on what other people think. Like playing poker only by guessing what everyone else does, knowing the rules. Stock market is no different the subset who read annual reports and make projections or trust people who do are limited
WesleyHale 5y ago
I'm not surprised since a large percentage of crypto buyers are millennials that grew up during the great meme boom of the 2000's.