After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors

Re:After the Bitcoin Boom: Hard Lessons for Cryptocurrency I... by 21 on Tuesday August 21, 2018 @02:47PM (#17812547)

I work in a software firm. Last autumn half of my team was "investing" in cryptos. People who never traded before, who didn't knew what a bid or an ask was, and who complained to me that exchange interfaces were terribly complicated. Some of them were mulling breaking their 401k (or whatever the term is) so that they could invest the money here.

In January they were saying to me "it's not a loss if you don't sell, right?" Literally 0 financial education.

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Re:After the Bitcoin Boom: Hard Lessons for Cryptocurrency I... by gammateam on Tuesday August 21, 2018 @03:05PM (#17812717)

> People who never traded before, who didn't knew what a bid or an ask was

and the more amazing thing to me was that they also didn't even want to know

the markets were moving too fast to learn anything, too fast to learn about the history, too fast to put any asset under scrutiny because there is another shiny new thing to trade with a cool name and interesting founding team

or as the ZCash employees and fans are programmed to say "the math is interesting and the cryptographers are highly regarded so--" THAT HAS NOTHING TO DO WITH THE CRYPTOCURRENCY TRADERS

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