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> For someone making $15/hr, crypto maybe their only lifeline to escape the quagmire of poverty. Or help keep them there as they keep getting "scammed" out of
by MuffinFlavored 4y ago
> For someone making $15/hr, crypto maybe their only lifeline to escape the quagmire of poverty.
Or help keep them there as they keep getting "scammed" out of their money.
Think about $15/hr people who bought anything other than Bitcoin when Bitcoin was at $60k+
Crypto has most likely been harmful for a bunch of lower class people.
- RestlessMind 4y ago> Think about $15/hr people Actually let's think about them. What could they buy in Q4 2021 (when BTC was 60k+)? If they were in the US, then probably some random stocks or some index fund, which has gone down in value (-20% for S&P, to -65-70% for "blue chip" ones like TSLA or META). Definitely not real estate. And forget about commodities. Outside the US? I'd wager similar scene in other advanced economies. I don't even know what good options they have in developing markets. Even today, I'd wager that BTC* will have a better outcome than S&P over the next 10 years. *to me, BTC is the only reputable crypto. ETH, if you understand how it works. Forget about everything else.