Crypto Markets Scare Me Just a Little Bit

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But not for the reasons you may think. It is not crypto itself, nor the idea of it that scares me. It's the fact that people do not know what they are doing, and have no idea what or why they are investing in something. This is a key tenet in investing in anything. Know how you are going to make your money and how the investment is going to grow. But I have often said the same thing about the retail investing environment that has taken off recently. With sites like Robinhood and others, coupled with a massive bull market, people are just blindly getting into investing not knowing how to invest, and because the markets have all been up for the past 10 years or so, everyone just gets the impression there is nothing to it, and they do know what they are doing. Not the case. It's not the people that are earning the crypto that worry me. If you have not put your own money into the equation, who cares if you lose what you have earned? It's the ones who are putting their entire life savings into crypto hoping for the big win that worry me. Because there is a strong possibility that at some point the rug could be pulled and many people are going to be left with nothing. Many more will be left with much less than they started with. Either way, what I think the crypto markets are designing, despite my belief that crypto does have a future, is a recipe for disaster for a lot of people who have no idea what investing is, and worse, have no idea WHAT they are investing in or why. I have no way of stopping it. But it will be interesting to see what the ultimate outcome happens to be when we get there. Maybe a lot of people will become rich. I think more will be poorer than before they dove into this thing simply because they have no idea what they are doing.