21–30 of 143 posts
Most people buy crypto because they believe the price will rise and they will be able to sell at profit. Investing is when you buy something that generates profits or utility, for example a share of a company or a house.
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…
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.
We still have reality television right?
https://www.bloomberg.com/news/articles/2018-07-26/love-isla...
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…
I don’t think people losing tens of thousands are the norm but absolutely there is a never ending list of people who’ve lost most of what they put in, whether that was hundreds or low thousands.
> 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…
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, ri…
Corrected title: After the Bitcoin Boom: Hard Lessons for n00b crypto Investors
> 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…
At least it was 23k not 100k
> Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.