He sold his car, invested in crypto and went bankrupt.
He sold his house, invested in crypto and went bankrupt.
Recently, there has been an increase in similar news in print and visual media. I think this is a manipulation and I think it is deliberate to push people to be prejudiced against crypto.
I cannot directly call the news a lie, but it is a big mystery how much it reflects the truth. Crypto is an investment and utilisation tool, not gambling or betting. It is not considered an investment for anyone to direct their car, house or, more differently, all of the value they have to a single point.
Crypto can make someone rich, but not homeless! It can improve the quality of life they have, but it does not leave them hungry! It allows them to buy what they want to buy but cannot buy over time, but it does not leave them worthless!
If there is a real bankruptcy situation by experiencing a situation contrary to all these, this is not investment but gambling. Moreover, gold has been the most reliable harbour for centuries, but no one sells all they have and invests it in gold. Even in gold, which has turned into a wall of trust for centuries, no one will invest everything they have, why would they invest in crypto?
In gambling or betting, you put a number in the middle and win or lose. While the gain is realised within the rate, the loss covers the entire amount of money put forward. Investment is completely different and everything it has; no one invests in a single vehicle.
Those who make statements as economists and financiers know all this better than us, but when the investment tool is crypto; They do not say that selling the car, house and investing the money in crypto is not investment but gambling. They are not eager to make the necessary warnings. In general, I don't think they are deliberate, but I think there is a bias in their perspective towards crypto. The stain on the name of the crypto may be in the favour of some financial circles.
What I want to say here is not to praise or criticise crypto! I am trying to explain that it is not right for a mentally healthy person to direct all their values to an investment instrument. And when the investment instrument is crypto, I cannot understand why there is an increase in such news.
The car is not sold and invested in gold! You don't sell a house and invest it in gold! Just like it cannot be invested in crypto. You have to be crazy to do these things. I don't think anyone who wants the values they have not to be lost is at the point of insanity. Only those who are in the gambling and betting mindset do this, and the name of their investment is not investment.
Warning: This article does not contain any investment guidance or advice. It is a simple content and sharing of my ideas about the agenda.
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Thank you, I am advancing on the blurt and giving all rewards to the power.