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Had a look at the Reddit crypto forums last night because who doesn't love a bit of schadenscrolling. They're still neck deep in Kool Aid, all going, "buy the dip! buy the dip!"

Guys, the people you are "buying" from keep going to prison for doing a runner to the Caribbean with the money. The only thing you are buying is new yachts for scammers.

READ THE ROOM. You have been conned. It's not nice to be conned, I get it. A guy once conned me out of 10 quid in front of Kings Cross Station in the 90s and I felt shit about that.

But you have been. Right now, you are throwing good money after bad. You aren't starting from where you were before you threw all your savings at these crooks. You are starting from now, and you are falling for the sunk cost fallacy.

You aren't getting your money back. Quit while you're behind. I'm sorry.

in reply to Sarah Brown

Adam
Adam
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Thing is, "buy the dip" is the rational thing to say loudly even if your personal position is "hoping some other chump will buy the dip".
in reply to Sarah Brown

Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
• •
Crypto is a giant Ponzi scheme
in reply to Jay 🇳🇱 🇪🇺 (Free 🇵🇸)

Sarah Brown
Sarah Brown
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@Jay #FBPE 🇳🇱 🇪🇺 Yes. Most of us have been saying that for years. Now it’s crashing, but some are desperately hoping that their dreams of unlimited wealth can still be realised. They cannot.
@Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
in reply to Sarah Brown

Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
• •
Yeah I know someone who's well over his head deep in crypto. Despite all the research done on it, refuses to believe that it's the Ponzi scheme that it is. I sure don't want to be the one to tell him "I told you so."
in reply to Jay 🇳🇱 🇪🇺 (Free 🇵🇸)

Gen X-Wing
Gen X-Wing
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@jaybhatt The difference between a Ponzi scheme, crypto, NFT, insurance, and many other schemes is that Ponzi failed at two things. He didn’t make it somehow legal, and he had the misfortune of getting his name attached to it.
@Jay 🇳🇱 🇪🇺 (Free 🇵🇸)
in reply to Sarah Brown

Kincaid
Kincaid
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did you see the youtube ep on the Gamestop shorting, and the utter tinfoil hatting it begat?

I didn't think there were worse numpties than ugly jpeg buyers. There are...

in reply to Sarah Brown

Kincaid
Kincaid
• •

yeah putting in the channel would have helped....

youtu.be/5pYeoZaoWrA?si=rCrQbg…

This one. It's *bonkers*


This is Financial Advice

Clickbait Title: if the price is zero then you can buy all the sharesI tell you what, when you try and tell this story you either sum it up in ten minutes wi...
YouTube
in reply to Kincaid

Sarah Brown
Sarah Brown
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@Kincaid More amused that anyone with a camera phone thinks they're a TV channel these days 😉
@Kincaid
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