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Worth noting: > Georgia is the 13th state to mandate personal finance education for its students As long as they're not encouraging students to "invest" in lo

Worth noting: > Georgia is the 13th state to mandate personal finance education for its students As long as they're not encouraging students to "invest" in lottery tickets, meme stocks, and crypto, I think this is a good move.

29athrowaway 5y ago
What is wrong with crypto.
- SamReidHughes 5y ago
  It's not an investment. 1 BTC is always going to be worth 1 BTC.
  - oneoff786 5y ago
    I’ll take that bet
  - deleted 5y ago
    [deleted]
- notacoward 5y ago
  Even if entire books couldn't be written in answer to that question, that kind of market speculation has no place in a personal finance class. Such a class should teach students the basics they need to make and keep a budget, avoid unnecessary debt, save for retirement, maybe even buy a house, etc. Any kind of market speculation should be left until they thoroughly grasp those basics.
- toxicFork 5y ago
  The main thing is that people think that "buying some amount of crypto currency is an investment". It may be, but way too volatile, much more than people's actual desired risk profiles. So they have unrealistic expectations where a few people end up winning and way too many end up holding the empty bag. Statistically, that's not an investment, that's a scheme.
  - 29athrowaway 5y ago
    So, like investing your time, mental health and physical health in exchange for incentive stock options then? At least with crypto you don't have to necessarily waste years of your life in vain. I have made a lot of money with crypto. There is nothing wrong with it, if you understand what you are doing. People hoarding resources and abusing information asymmetry will always exist, either in the form of crypto pump and dumps, or ellaborate scams like collateralized debt obligations and subprime mortgages and fractional reserve banking and stuff. Everything is a scam, inflation is legalized theft and just like casinos make their biggest profits from casual players/tourists that do not know how to play, every form of financial transaction takes advantage of people that do not know the rules or the optimal strategy.
    - julianlam 5y ago
      > casinos make their biggest profits from casual players/tourists that do not know how to play This is cute. Do you have a winning strategy at blackjack too?
      - 29athrowaway 5y ago
        Have you ever heard of advantage players?
- dghughes 5y ago
  You could ask what's wrong with futures you can become super wealthy overnight. But you can also bankrupt yourself in an hour. Yes risk is part of investing but extreme risk is desperation, gambling, ignorance.

29athrowaway 5y ago

What is wrong with crypto.

SamReidHughes 5y ago
It's not an investment. 1 BTC is always going to be worth 1 BTC.
- oneoff786 5y ago
  I’ll take that bet
- deleted 5y ago
  [deleted]
notacoward 5y ago
Even if entire books couldn't be written in answer to that question, that kind of market speculation has no place in a personal finance class. Such a class should teach students the basics they need to make and keep a budget, avoid unnecessary debt, save for retirement, maybe even buy a house, etc. Any kind of market speculation should be left until they thoroughly grasp those basics.
toxicFork 5y ago
The main thing is that people think that "buying some amount of crypto currency is an investment". It may be, but way too volatile, much more than people's actual desired risk profiles. So they have unrealistic expectations where a few people end up winning and way too many end up holding the empty bag. Statistically, that's not an investment, that's a scheme.
- 29athrowaway 5y ago
  So, like investing your time, mental health and physical health in exchange for incentive stock options then? At least with crypto you don't have to necessarily waste years of your life in vain. I have made a lot of money with crypto. There is nothing wrong with it, if you understand what you are doing. People hoarding resources and abusing information asymmetry will always exist, either in the form of crypto pump and dumps, or ellaborate scams like collateralized debt obligations and subprime mortgages and fractional reserve banking and stuff. Everything is a scam, inflation is legalized theft and just like casinos make their biggest profits from casual players/tourists that do not know how to play, every form of financial transaction takes advantage of people that do not know the rules or the optimal strategy.
  - julianlam 5y ago
    > casinos make their biggest profits from casual players/tourists that do not know how to play This is cute. Do you have a winning strategy at blackjack too?
    - 29athrowaway 5y ago
      Have you ever heard of advantage players?
dghughes 5y ago
You could ask what's wrong with futures you can become super wealthy overnight. But you can also bankrupt yourself in an hour. Yes risk is part of investing but extreme risk is desperation, gambling, ignorance.