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RE: You're a Believer?

in LeoFinance4 years ago

Oh... one of those, are you? You people and your imaginary money... :P

I'm actually seeing a lot of people, particularly young people, getting into crypto. Some seem to view it as a get rich quick scheme, while others understand that you should invest as much as you can, without staking your entire future on it. So I think that's pretty interesting.
Yet they're still very few, when compared to those who'd much rather pay a monthly Spotify or Netflix subscription, instead of investing. Obviously, it's money you can afford to spend, so that's not the issue. I think the real issue is, you can't afford the brain power, time and energy necessary to understand investment basics.

That's what I'm thinking of doing, personally, setting a monthly amount to invest. Small, but the kind that adds up, you know?

I really enjoyed that last paragraph, by the way. Very well put. :)

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The young are pouring in and most will learn quickly that the gains they make aren't quick. Many will sell far too early thinking that doubling their money in a month is great, but will spend it on a Playstation and then have nothing in two years when it goes 20x.

The subscriptions are killers - death by a thousand payments.