Firstly, very few people know much about crypto investing. It's typically a crap shoot and anyone who tries to show you technical analysis or research on chart movement is talking out of their ass.Most of these people got lucky, rode the bull to the top, then told everyone they did it based on x, y, & z instead of dumb luck.Secondly, rich people are risking an extremely small amount of their wealth (or in the case of Elon Musk, his companies wealth, not his own). Sure, it sounds amazing when someone invests hundreds of millions of dollars into crypto. But they are gambling with a tiny relative amount.When the average /r/CryptoCurrency user invests into crypto, they are likely putting a lot at risk in terms of net worth percentage.When the rich lose, they might not be able to buy their 50th car. When the poor loses, they go without food. The risk is not the same regardless of the raw amount of money lost.In summary: while no one actually knows what they are talking about in terms of crypto investing, you should put more value on the opinion of the person who risks 50% of their $10k net worth vs. the billionaire who puts 0.0001% of their net worth in. The poorer person has more to lose.Those of you in the US at the moment will know about this really well. You have the 1% (politicians) deciding the fate of millions of people who desperately need a stimulus check. They don't grasp how a few hundred dollars makes such a big difference to someone who struggles to put food on the table. Their crypto advice is irrelevant.
Submitted February 15, 2021 at 08:52AM
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