A lot of very valid points in there.
If we look at Ripple as an example. You could of done lots of research on this coin and came up with the conclusion that it was a great investment. It had backing from main stream media, from alternative media and on paper it has a use case. It was touted as the future of banking. It was listed above Ethereum at one point on coin market cap and it was cheap. There are banks that are actually looking at it as we speak.
On paper this looks like a great investment and most things in life are an investment such as your house, car an expensive watch etc. Most people don't buy a Rolex to get rich quick they buy it to maybe hand down to their kids. I must admit I agree that a very high percentage of people in crypto are simply after profit (a very high percentage in fact).
But there a good few that are after "diversifying their portfolio" as we hear all the time. They want to minimise risk after what we seen in 2008. I know of people buying crypto like gold or that Rolex, wanting to use it for their retirement and not just after a quick return. Now ripple looks like it would be a great choice, but as we dig deeper we actually see that the actual XRP token is totally and utterly worthless. The banks don't use it and more to the point they don't even need it, but it was pumped up over $3 by people who knew this full well.
It's like saying the people of Bitconnect are totally blameless as people knew what they were getting into (I know you didn't imply this but it's just an example).
Yes you are 100% correct, people shouldn't blindly follow anyone, but at the same time people shouldn't blindly deceive either.
Thanks for the debate :) followed you
couldn't agree more. I've enjoyed our conversation - I'm going to follow your blog and see what else we can opine about.
the same here