3 ms·
The problem being discussed is not the difficulty of asset diversification. Lest you forget: > People who are unable to discern scam from not scam get scammed.
by yunohn 4y ago
The problem being discussed is not the difficulty of asset diversification. Lest you forget:
> People who are unable to discern scam from not scam get scammed.
This is a common refrain, along with Do Your Own Research (DYOR). As if scams are that obvious.
However, my additional point was that I have successful crypto friends, that actively and knowingly invest in shitcoins and justify it as “money they can afford to lose”.
Also, just to be clear - are cryptocoins an investment, a store of value, a currency, or equity-equivalent in a company? Because the goal always seems to be buying enough of every coin to maximise speculative windfalls. That is /strictly/ not the goal of a traditional index fund.
- dropnerd 4y agodifferent tokens have different purposes, but you could describe vc investing as maximizing speculative windfalls, and that's how many traders view their tokens. i can't speak to your friends' behavior, but you can buy tokens and do well without putting money behind the do kwons of the world.
- yunohn 4y agoAgain, how are you comparing VC investors with Retail traders? There’s a clear difference between the two demographics. I’d go one step further to posit that most crypto traders are not even day traders, so much less experienced.