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> The most enlightening things to come out of the crypto craze: > 1. There is an overwhelming abundance of rich idiots in this world. Wealth-merit determinism
by cycomanic 3y ago
> The most enlightening things to come out of the crypto craze:
> 1. There is an overwhelming abundance of rich idiots in this world. Wealth-merit determinism has been publicly dealt a serious blow that I hope people will take to heart.
And somehow people still say poor people are poor because they lack financial intelligence and we could fix their poverty by giving them finance education. No poor people are poor because they lack money, because of that they must be smarter with their money, they can't afford to loose it.
Rich people on the other hand don't need to care. I would even say that many don't even notice the money they lost here
- 2OEH8eoCRo0 3y agoI think only rich people say the poor need financial intelligence and then they make things like Robinhood so the poor can feel like they have financial intelligence while losing money and the rich get richer.
- deleted 3y ago[deleted]
- deleted 3y ago[deleted]
- ghaff 3y agoProbably not so much actual poor people but I expect some non-trivial number of not-rich people bet money on cryto that they couldn't really afford to lose either from simple greed/FOMO or because they convinced themselves that their only ticket to the good life was to gamble.