‘Bitcoin is my potential pension’: What’s driving people in Kentucky to buy

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

by stanleydrew • 8 years ago

11 5 8 years ago

washingtonpost.com

BoorishBears• 8 years ago

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

smt88• 8 years ago

This is sad and terrifying

nullsmack• 8 years ago

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?

ratliffchrisb• 8 years ago

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.

londons_explore• 8 years ago

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.

‘Bitcoin is my potential pension’: What’s driving people in Kentucky to buy

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