God forbid people be allowed to invest their money the way they want. Maybe we should also ban lottery tickets. Also we should make gambling illegal in Vegas. I hear alcohol, cigarettes, and other vices are also bad for people.
You're right, there are uninformed people buying into the hype. But who are you to tell them how to spend their money? Why are you such an authority on their autonomy?
I understand your perspective. I apologize if I come across as abrasive. I think (admittedly I could be wrong) many people with your perspective are subconsciously taking a holier-than-thou approach though, which can come across as a bit condescending.
But you're right. Chances are a lot of people are going to lose money investing in something they don't understand, including people who can't afford to lose that money. But I genuinely believe most of the people are actually aware of the risks, even if they aren't intimately familiar with the market.
I know it sounds crazy, but a significant chunk of people doing this genuinely don't care about the money. As to what the breakdown is between people trying to profit, people that have no idea what they're doing, and people that just want to fuck the system? I don't know, but I bet each category has at least 10% in it.
