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> "Vast Majority of People Who Invest Inevitably Lose Money" I read this as: picking particular stock winners has been known for decades not to beat the market

> "Vast Majority of People Who Invest Inevitably Lose Money" I read this as: picking particular stock winners has been known for decades not to beat the market. Yet people still want to believe... I don't think this is particular to crypto. Don't you see the same phenomenon with day traders? Something like 95+% are losing money, as I understand it. To the later commentator: if you're investing in stocks and not beating the market average, then yeah, I think you should consider yourself to be losing money.

acdha 4y ago
The difference is the composition: stocks are linked to something real and have regulatory oversight, which although not always sufficient does mean most people profit over time and the losses are usually not complete because there’s some kind of link to revenue other than stock. Day traders usually don’t make as much as they hoped but it doesn’t take a huge amount of skill to avoid major losses, either. Contrast with cryptocurrencies where the value is only based on social consensus. Not being linked to an actual business means that sales can halt instantly and the floor is zero because people only make a disadvantageous transaction if they think it’s going to plummet.