A former friend of mine dumped his remaining savings into a niche crypto coin. Dude also doesn’t have a 401k. It’s wild how blind and into the crypto propaganda he’s dug himself. The dude’s future is fucked.
I would not be surprised. The arrogance and self-righteousness in his character had gotten pretty out of control.
The thing is, you have to be crazy to see it early I guess. If you don't get in at the beginning of these things, you will miss your hockey stick. AND, there has to be a fundamental advantage OTHER THAN hype to carry it forward.
*(Don't bother hacking me. There are none left, unfortunately, because I got disgusted by the scamminess of the people entering the market around 2016 or so and I don't like money sitting in things I'm not watching. And I now of course wish I hadn't've bought that Tesla with 2013-era bitcoins... A Tesla that still runs like a top. I've also survived multiple hacking attempts already. So, sellers' remorse, partly. Anyway. I believed in crypto, and survived crypto.)
It’s not about the possible outcomes but how the game/market actually works.