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Comment by gaetanrickter | Hacker News Reader

¯\_(ツ)_/¯ it's the wild west. Do you think I want to trust my money on Wall Street instead?

You’d be wise to. First-world stock exchanges are not in the habit of disappearing, and volatility is significantly lower (yeah, yeah, the past week, I know, but I’m assuming we’re talking about a long time horizon like retirement).

There are more crooks on wall Street (including the Banks) than in crypto.

Edit: Source: The 2008/09 financial crisis. You really don't need a specific source here as it's clear to everyone that Banks have done great dishonest disservices to their customers. Wells Fargo's latest news is case and point.

Source? Because on the face of it that's laughably untrue.

The one thing they don't do is actually collapse and leave the customer out of pocket.

Regardless, who cares how many 'crooks' there are on Wall Street. If you want to get rich slow, you throw your money in a stable investment in stocks, the 401k has made lots of millionaires.

> There are more crooks on wall Street (including the Banks) than in crypto.

This is a fun statement, because it's vague enough to be defended with "oh, but I meant <foo>".

Yeah, Wells Fargo got caught making accounts people didn't know about. There are cases like Enron. Financial crises, overdraft fees inflated by ordering transactions maliciously, etc.

In the grand scheme of things, though, Wall Street tends to work, and fairly well, and when it has an issue it winds up recovering eventually so you're fine if you're well diversified and don't need to retire next week. The various stocks in the DJIA and the NASDAQ are making real products, have real value, and will mostly still be here in a few years.

You can't say the same for the ICO world.

TBH if you're going to manage your financial future based on trite, vacuous phrases then crack on. You clearly don't care very much about your money so it shouldn't matter much what you do with it.

The only caveat I'd make is that if you have dependents then this sort of fatuous ignorance is nigh on criminal. Otherwise, good luck and I hope you don't completely fuck up your life.

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