We detached this subthread from https://news.ycombinator.com/item?id=11898693 and marked it off-topic.

> Why would you care what anyone does with their money?

Really?

Two fairly obvious reasons I can think of in ten seconds: sympathy for other people, and the desire to not see the entire sector tarred as a giant scam. I suspect there are other valid reasons.

Why should a doctor care when he sees someone eating buckets of fried food while smoking a cigarette?

Because if this becomes big enough, and enough grandmas lose their nests, my tax dollars will be used to prop up others' dumb decisions.

Because in the real world, distribution of capital has a little thing called "opportunity costs".

A bunch of people are allocating large amounts of capital to shams when they could have been making productive use of it, this both gives rewards, social power, and encourages scammers/fraudsters, but also forgoes investment in otherwise productive activities that could benefit us all.

In addition, there are very real concerns about government involvement, as well as the social consequences when mom/pop/sister/brother/anyone we care about loses their money to such...

I could go on...