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I heavily disagree with this. My generation's elderly people cannot read nor write. Of my one grandparent who can read, they have an 8th grade education. Only a
by PuppyTailWags 4y ago
I heavily disagree with this. My generation's elderly people cannot read nor write. Of my one grandparent who can read, they have an 8th grade education. Only a minority of 60+ people were literate worldwide, much less financially literate.
This also applies to my parents' generation, who grew up primarily subsistence farmers. They don't understand finances or markets or anything like crypto. They understand business investment as mutual actions of trust, where they lend their neighbor money and their neighbor buys something to benefit the town. Cryptocurrency hijacks those avenues of business investments by forming parasocial bonds and fake communities.
- hammyhavoc 4y agoIf I could underline your comment repeatedly, I would. We take our access to knowledge for granted.
- Animats 4y ago"They understand business investment as mutual actions of trust, where they lend their neighbor money and their neighbor buys something to benefit the town. Cryptocurrency hijacks those avenues of business investments by forming parasocial bonds and fake communities." Exactly. The crypto promoters built a community, acted trustworthy, and then they exploited it for an affinity scam.[1] The promoters gave the impression they were on your side. They weren't. Just like Madoff. [1] https://www.sec.gov/investor/pubs/affinity https://www.sec.gov/investor/pubs/affinity