I think the problem with them at the moment is that people aren’t honest about why they’re interested in it.
I know of a few crypto YouTubers, and a friend of mine is heavily invested in it, and in the main these videos seem to just talk about the money making opportunities, rather than the technology, why coin X is a better prospect than Y on a given day in terms of the future of financial transactions.
You need only look at the effect of Musk on it to see how prices go up or down massively based on sentiment, rather than fundamentals. This will change with institutional investment, but at the point that these things are “serious” I wonder if there will be as much interest in it. If Bitcoin and altcoins ended up going up and down by nominal percentages, like fiat, would people be as interested in it?
It feels like a gold rush at the moment and there’s plenty of opportunities to end up on the wrong side of naked pump and dumps. You have no protection from scams from the FSA, etc - which is a boon for criminals. I feel like there’s a lot of people losing sums of money they can’t afford to lose through a combination of modern deceptions (phishing, fake Twitter accounts, etc) and greed.
I know of a few crypto YouTubers, and a friend of mine is heavily invested in it, and in the main these videos seem to just talk about the money making opportunities, rather than the technology, why coin X is a better prospect than Y on a given day in terms of the future of financial transactions.
You need only look at the effect of Musk on it to see how prices go up or down massively based on sentiment, rather than fundamentals. This will change with institutional investment, but at the point that these things are “serious” I wonder if there will be as much interest in it. If Bitcoin and altcoins ended up going up and down by nominal percentages, like fiat, would people be as interested in it?
It feels like a gold rush at the moment and there’s plenty of opportunities to end up on the wrong side of naked pump and dumps. You have no protection from scams from the FSA, etc - which is a boon for criminals. I feel like there’s a lot of people losing sums of money they can’t afford to lose through a combination of modern deceptions (phishing, fake Twitter accounts, etc) and greed.