
‘Bitcoin is my potential pension’: What’s driving people in Kentucky to buy - stanleydrew
https://www.washingtonpost.com/business/economy/bitcoin-is-my-potential-pension-what-is-driving-people-in-kentucky-to-join-the-craze/2018/02/03/aaaea3be-05dc-11e8-b48c-b07fea957bd5_story.html
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ratliffchrisb
I've invested and mined crypto before, but this is worrying to me. There are
enough payday loan offices and gas stations minting money off lottery tickets
in Kentucky. The consensus is people keep going to them because it allows them
to buy hope, they aren't concerned with the odds, just the feeling they can
strike it rich is enough to get someone to buy a scratcher.

The quote from the article “What crypto allows is for the masses to be venture
capitalists,” seems sensationalist to me, not to mention inaccurate. Aimed
more at selling a lifestyle than educating consumers.

If someone thinks an incredibly volatile and aggressive asset is a replacement
for a pension they have probably have gross misconceptions about what they are
investing in. Letting someone that ignorant of what they're doing buy in like
that is completely irresponsible. I really hope they are being responsible in
educating their investors and haven't just found a new way to fleece
Kentuckians.

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nullsmack
What's going to happen when people put everything they have into it and the
bottom falls out of the market? Wake up one day to find bitcoin worth $50 or
something like that?

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londons_explore
Diversification of investments is the key thing these folk are missing.

I think part of the cause is a lack of financial education, but as large a
part is no easy way to make diversified investments without adding
significantly more effort, fees, or risk.

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smt88
This is sad and terrifying

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BoorishBears
This is why the SEC won’t let us have nice things...

