I'm excited with the emergence of cryptocurrencies and the new equity crowdfunding JOBS Act, but I fear what scams people will exist, once people gather these two.
Realistically, the "investors" are people who want to gamble with their money. Who cares if they lose it?
However, I don't think people are spending money they can't afford to lose on crowdfunding projects, either. They are spending money they can afford to lose.
In fact, this demographic is probably the primary target of schemes like this. If you're smart enough to handle your money well, you're smart enough to not fall for stuff like this.
No, that's not right. You sound like someone who has not known a lot of actual poor people. Of course maybe you have.
I'm not saying all poor people are poor by their own fault. Far from it, especially given where I live. But it is definitely the case for many, and for some people I've known as well.