Well, you guys keep on saying that the currency is devalued, so it makes sense until you think about how little most people are paid and how little most have to lose on cryptos or any other risky investment. Unless you are some kind of true expert—and it does not sound like most of these crypto traders are—I do not see the difference between risking scarce funds by going down one risky avenue v/s another. It is one thing for the highly paid few to speculate with their extra money. Why is that more frivolous than blowing it on luxuries? Most luxuries do not appreciate in value, whereas a few skilled traders might create a nest egg by making trading their hobby. I have seen professionals in areas unrelated to finance—people with plenty of extra money to lose—become experts in things like buying and selling land. It is speculation of a different kind, but it paid off for them. I notice that people like that almost always have a lifetime of either 1) experience with the thing they speculate in, 2) an extra helping of brains or 3) family with those qualities to help them. Fairytale stories about instant riches are so attractive because, in reality, they are so rare.
You are viewing a single comment's thread from: