Re:What Happens to Stocks and Cryptocurrencies When the Fed ...
by retrac on Sunday May 09, 2021 @03:50AM
(#27094096)
You're right. I did mean it in the gentlest sense, that someone who can afford to lose a bit perhaps should. Maybe that is too much faith that it will at least end up in circulation on something more useful. I have little use for fraudsters and those relying on huge differentials in knowledge. When it comes to ordinary people investing their transfer payments on something they may not understand actually can shrink 90% in 2 hours with zero recourse, it becomes a serious wrong.
I've been following since near the beginning, and my circle's rather techy so they largely get it. But I'm not sure what the average person today understands about something like Bitcoin and similar, technically or financially. I've struggled to inform myself before. I looked into the protocols for some decentralized exchanges and I noticed that it's hard to find much about them because in-depth or neutral discussion is buried under a pile of buzz and hype. The biggest advocates promise the Moon, sometimes literally.
Perhaps public education of some kind could help, so that more people understand risks and unknowns? When everything that comes up on cryptocurrency is from the biggest stakeholders in the game, people will not be getting a fair understanding.
I've been following since near the beginning, and my circle's rather techy so they largely get it. But I'm not sure what the average person today understands about something like Bitcoin and similar, technically or financially. I've struggled to inform myself before. I looked into the protocols for some decentralized exchanges and I noticed that it's hard to find much about them because in-depth or neutral discussion is buried under a pile of buzz and hype. The biggest advocates promise the Moon, sometimes literally.
Perhaps public education of some kind could help, so that more people understand risks and unknowns? When everything that comes up on cryptocurrency is from the biggest stakeholders in the game, people will not be getting a fair understanding.