If they lost their fortunes through Bitcoin, that means they sold their Bitcoin for less than they bought it, that’s literally the only way they could have lost money. And they would have had to have held it for a fairly short time for that to happen given the historical price of Bitcoin.
If I pull all the money out of my 401k early and have to pay enough of a penalty that I lose money, does that mean 401k’s are a scam? Other than the obvious part about them shifting the retirement burden onto individuals and killing pensions, of course.
Ah yes, because Bitcoin and all crypto are totally the same thing. If people want to lose money on shit coins, they’re free to do so. They can regret not keeping it in just Bitcoin later.
The website referenced is talking about hacks and exploits which the companies should be held accountable for and will in most cases reimburse those that have taken the loss unless stated otherwise and in that case it’s idiots taking the losses because you should not be investing yourself with something you’re not educated on. I’ve been around crypto for a while now and acting like exploits for the stock market never existed is wild. Relative to life, the Bitcoin market has been around for a shorter period of time and will continue to be around because its inception is that unique. Also I’m not stating the whole crypto economy is wonderful; just bitcoin.
How many people lost fortunes since then? Was it a net positive?
If they lost their fortunes through Bitcoin, that means they sold their Bitcoin for less than they bought it, that’s literally the only way they could have lost money. And they would have had to have held it for a fairly short time for that to happen given the historical price of Bitcoin.
If I pull all the money out of my 401k early and have to pay enough of a penalty that I lose money, does that mean 401k’s are a scam? Other than the obvious part about them shifting the retirement burden onto individuals and killing pensions, of course.
That’s not true. People have been robbed of their cryptocurrencies or lost access to a hard drive / wallet with the necessary information.
These aren’t exactly analogous to other dangers with other valuable things, but quite similar.
How many people lost fortunes in the 2000 crash? What about the 2008 crash?
Market go up, market go down. Bitcoin go up, Bitcoin go down. You don’t have to believe in it, it’ll happen.
A whole lot less than the ones using crypto.
https://www.web3isgoinggreat.com/
The only thing you can be sure will happen is that you will get scammed if you stay too long.
Ah yes, because Bitcoin and all crypto are totally the same thing. If people want to lose money on shit coins, they’re free to do so. They can regret not keeping it in just Bitcoin later.
The website referenced is talking about hacks and exploits which the companies should be held accountable for and will in most cases reimburse those that have taken the loss unless stated otherwise and in that case it’s idiots taking the losses because you should not be investing yourself with something you’re not educated on. I’ve been around crypto for a while now and acting like exploits for the stock market never existed is wild. Relative to life, the Bitcoin market has been around for a shorter period of time and will continue to be around because its inception is that unique. Also I’m not stating the whole crypto economy is wonderful; just bitcoin.