The most downvoted comment in the Github issue seems totally right.. why did this guy put his life savings in a crypto? Even without making any mistake this seems like a dumb move.
I do hope he gets his money back, but he deserves some chiding as well.
Do we have a good word that covers both the author of the post or the OP of the linked thread?
It was also in poor taste to scold him on the GH issue. It can wait, poor guy is just asking for help.
Dealing with people is sometimes annoying. Give anyone anything with a text box attached to a carrier than can convey a message, and it will devolve into people treating it like email or a general purpose message board(). Such is life in the GitHubiverse.
(even ostensibly smart people who should be capable of dealing with semantic nuance, like people who write code)
Where else would you leave such a warning if not in the actual thread?
Good point, (which was my first reaction.)
But consider this: If, when you were young, you bought a few $1000 of Microsoft stock, Apple stock, Google stock, ect, when they went public, that investment could have grown to be the majority of your life savings.
Perhaps dawidkabani13 just happened to buy some tokens at the right time? A lot of people don't save.
Otherwise, this is a good example of why dumping all of your life savings into cryptocurrency is irresponsible.
If you bought $100 of crypto back in 2008, then when the price swung rapidly and it became a substantial proportion of your net worth, you probably should have thought "I only invested a token amount as a joke. Has anything changed since then? If not, I should sell all except the token amount I actually intend to own".
That might prove more difficult than you'd think.
And if you did it in lots of other promising stocks at the same time, it would have been a major error.
If you have reliable information from the future, sure, it makes sense to dump your life's savings into one basket that is going to pay off. Or if you are young and your “life’s savings” is a trivial fraction of even your annual surplus income, it might make some sense to take an all-in risk speculatively. But, generally, it's a bad idea.
But when it comes to investing, a little knowledge of economics and a good sense of smell goes a long way.
It is absolutely valid to do risky investments. Just as others have written you don't do them with your live savings. I really thought people would know that by now.
I agree with you, I hope OP doesn't have a wife and children. He's totally careless and men cannot afford to be careless.
It is, until said crypto triples in value. Then not so much.
Some people have been known to bet the farm on the red at roulette.
That's a dumb move indeed, unless you win of course.
>That's a dumb move indeed, unless you win of course.
No, betting everything you own on red when playing roulette is still a dumb move even if you win. Sometimes you can still be lucky while being dumb, but that's it. Similarly, it's dumb to wrestle a grizzly bear on a bet, even if you come out alive and win the bet.