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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 act
by toxicFork 4y 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 4y agoSo, 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 4y 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 4y agoHave you ever heard of advantage players?