Re: Millennials are ‘delusional’ about how rich they’re going to be
What proportion of cryptocurrency investors were buying on credit cards or mortgaging their house? I imagine it was pretty small. Do you have any data to support this theory of yours?
Anyone who racks up high-interest debt to buy cryptocurrency probably deserves to have their credit destroyed.
Anyone who racks up high-interest debt to buy cryptocurrency probably deserves to have their credit destroyed.
The portion from BTC $1000 TO BTC $20000,
numerous articles discuss credit cards being ban by the banks to buy crypto (Google it)
and all you have to do is read these forums to find someone that mortgaged their house without telling their wife.
You're assuming that every coin was bought on credit for the better part of a year? That's completely insane. It seems you have no data to support this theory of yours.
A few credit card companies restricting investments with revolving loans doesn't tell us how significant it was. It certainly doesn't equate to the entire market being built on a credit bubble and every holder mortgaging his house to buy at $20,000.
Your entire point is based on nothing more than hyperbole.
Those people that you say deserve it are the ones that allowed many in here to earn windfalls.
Fact is those people were lied too, when users in these very forums claiming bitcoin could only go up, and they could become rich.
Fact is those people were lied too, when users in these very forums claiming bitcoin could only go up, and they could become rich.
Who cares? They stupidly believed BTC would endlessly rise. That was their fault. That's how markets work: Stupid and impatient people give their money away to the smart and patient people.