I have no money invested in crypto because I can't support its environmental effects (Ethereum is solving that though), so I'm not saying this as a crypto loon: crypto 100% is investment. I've long since lost count of how many people I've told and how many downvotes I've gotten for saying that bitcoin is not an investment, let alone a store of value (as in the actual investing term "store of value").
Mainly mean that they could not live paycheck to paycheck and be able to afford what they want and need. So yeah I agree that if it's just for fun and the person is in control it's fine! But for most that isn't the case.Įdit: "It's the hope of just getting rich easily" and I know it isn't even close to possible for everyone to be rich either because of how the world is built and automatically gives some groups more of an advantage than others.
And often if they are a long time player, the one time 100€ or even 1000€ payout won't be more than what they have spent on it so far.
Especially where I live, there are quite a lot of people with gambling problems to begin with and I saw it with my granddad first hand, and I don't wanna gamble at all as a result seeing how some people can get sucked into the habbit and have a really hard time getting out of it because "what if the next time my guesses would have been right?". It's the hope of just getting rich easily that sucks most people in, not the thrill. Thing is that most people who are poor are the ones who get sucked in since they don't know the odds well enough and just hope some day they will get lucky and hit that jackpot. I mean, I am the kind of person to try and make my own fake Starbucks for myself, especially during the pandemic. People are realizing that the only way for them to achieve that dream is to hype the everloving shit out of it to as many people as possible in the vain hope that the bubble will swell just enough to get them in the green so they can get the fuck out and leave some other poor sap holding a pile of shit. Karen got her pink Caddy and they're just sitting on 100lbs of makeup nobody wants. Now though, the bubble has slowed or is deflating, because the people that weren't just fucking around actually want their money at some point. That made all the early investors even more money, generating even more hype. Then a bunch of gullible/optimistic people tried to jump on the bandwagon looking for a get-rich-quick scheme or already had enough disposable income that they could do it for the lulz. There are a handful of people that got in early and made real money and had proof to back it up. It typically doesn’t go wellīecause meme stocks and crypto have basically devolved into MLMs. Don’t be the guy that yolos their life savings into one thing.
RUST GAMBLING INTROS CRINGE PLUS
That being said, I’ve got a lot more than 5% in GME right now, but I understand the gamble I’m taking and I’m also keeping my 401k fully diversified and separate from that, plus keeping cash on hand for emergencies. Some advisors say even over 5% is too much. If you have more than 10% of your total investable money in one thing (Bitcoin, a single stock, etc), you have what’s called a “concentrated position,” and that’s an extra, unnecessary risk you’re taking. Then, you don’t put all your eggs in one basket. You want a 6 month emergency fund in cash, and if you have high interest debt you want to pay that down first before investing. Sure, you have a few gamblers who dump their life savings into something and get lucky, like people who bought a shit ton of BTC early on, but for every one of those stories there are a thousand on the other end. It’s even more than that: diversification is a key factor in successful investing. There are plenty of other subs for memes and jokes. Do not brigade or encourage brigading of this or other subreddits/websites.įollow Reddiquette at all times.
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