4 ms·
Scams and get-rich-quick schemes are not new, they seem to have existed for centuries. People get burned, then learn, but their children and grandchildren don't
by stephc_int13 4y ago
Scams and get-rich-quick schemes are not new, they seem to have existed for centuries.
People get burned, then learn, but their children and grandchildren don't.
Generational knowledge loss is something that is widely underappreciated.
Of course, newcomers don't listen, it is always a new thing, new words, surfing on the latest cultural trends and technologies.
At some point, crypto/blockchain based scams will stop working, when the current generation will be tired of it.
Is there a way to stabilize global knowledge around this?
- paulryanrogers 4y agoTulip mania was never a secret. Crypto just added some more layers, making it harder to tell that it was mania. Education is the only answer I can see.
- stephc_int13 4y ago"Education" is a lazy and naive answer, IMHO. I don't think we can consider that Isaac Newton was uneducated or dumb. And yet, he fell for get-rich-quick scams. https://moneymorning.com/2017/05/08/this-classic-investing-mistake-cost-isaac-newton-everything/ https://moneymorning.com/2017/05/08/this-classic-investing-m... We need something more targeted than "education".
- paulryanrogers 4y agoNewton being knowledge about physics doesn't mean he was immune from financial scams. There isn't much appetite for regulation, at least in the US. What would you propose?
- stephc_int13 4y agoI would go for something simple and radical.