11–20 of 143 posts
Nothing new. When you see ads in the subway to buy cryptocurrencies, and you have people buying cheaper coins because they don't realize they can buy a fraction of a bitcoin, this happens. There is no fast way to get rich if you are dumb.
Nothing new. When you see ads in the subway to buy cryptocurrencies, and you have people buying cheaper coins because they don't realize they can buy a fraction of a bitcoin, this happens. There is no fast way to get rich if you are dumb.
Stories like these are full of anecdote and short on facts, it's hard for me to know what to make of them.
> “I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.”
I think it's distasteful to criticize the decisions that lead to someone's downfall, but maybe someone will read this and take heed for the future. If losing $19,000 will genuinely leave you financially ruined, cryptocurrency is way too high risk of an asset to get involved in.
I feel bad for him and hope nobody ends up in the same spot.
22 years ago https://www.nytimes.com/1996/03/03/business/investing-it-the...
Minidisc, anyone? I still do not really understand why this wasnt more successful (at least by the time CDs existed/were used)
For Iomega, it was because of terrible quality control, leading to fiascos like the Zip drive "click of death" (see https://en.wikipedia.org/wiki/Click_of_death#Iomega_Zip_driv...). A storage vendor whose products develop a reputation for frequent, catastrophic data loss isn't going to stick around long.
For MiniDisc, it was because MD didn't offer a clear leap up from what you could get from compact discs, and because Sony couldn't help but be Sony and go off and develop their own system while everyone else in the industry was using a different one (DCC: https://en.wikipedia.org/wiki/Digital_Compact_Cassette).
22 years ago https://www.nytimes.com/1996/03/03/business/investing-it-the...
Minidisc, anyone? I still do not really understand why this wasnt more successful (at least by the time CDs existed/were used)
Earlier quoted context omitted.
Minidisc, anyone? I still do not really understand why this wasnt more successful (at least by the time CDs existed/were used)
Why MiniDisc wasn't more successful, or why Iomega wasn't more successful? For Iomega, it was because of terrible quality control, leading to fiascos like the Zip drive "click of death" (see https://en.wikipedia.org/wiki/Click_of_death#Iomega_Zip_driv... ). A storage vendor whose products develop a reputation for frequent, catastrophic data loss isn't going to stick around long. For MiniDisc, it was because MD didn't…
> Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened. > “I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.” I think it's distasteful to criticize the decisions that lead to someone's downfall, but maybe someone will read thi…
Where do they find these people? Is this what a lot of "ordinary" people do? Take out tens of thousands of dollars in loans to invest in cryptocurrency? Are the people profiled in the article a representative sample? Or are we hearing about the worst cases only because they are so notable and out of the ordinary? Will this post ever stop asking questions?? Stories like these are full of anecdote and short on facts, i…
In January they were saying to me "it's not a loss if you don't sell, right?" Literally 0 financial education.