4 ms·

Which is quite similar to "investing" in crypto I think. It's basically being marketed as a get rich quick scheme to most retail.

• medellin 4y ago
  Maybe as a “get rich” scheme but I haven’t seen it marketed as a get rich quick scheme anymore than options trading is. * options have legit uses but almost no one is retail is using them for things like capping risk.
• lokedhs 4y ago
  The difference is in your reaction to loss. If people spend a few dollars on the lottery, most people are not going to be upset when they lose. Of course, they're are always people who spend everything they have on gambling, but most people agree that a lottery is something you expect to lose. When people invest, they don't expect to lose. Of course course, there is always the risk of losing, but the difference between a lottery and an investment is that there is an expectation of loss in the former case.
• MisterBastahrd 4y ago
  No, because there's no real expectation to win when you buy a lottery ticket. There were enough cryptocurrencies that got pumped enough that people who bought into crypto felt that they had a good chance at succeeding. Also, there's been an insane amount of delusional fanboyism surrounding crypto that would be seen as completely insane if we're talking about gambling.
• rchaud 4y ago
  But getting rich still requires risking a lot of one's capital on some exchange that could go under any second, buying a coin that could get rugpulled any second. A lottery ticket costs no more than a few dollars. Even if you buy a bunch of tickets to improve your odds, that's still a few hundred dollars tops.