Thinking you can store your crypto with some 3rd party that _definitely_ won't get hacked (or """hacked"""), also thinking your crypto won't become worthless from a singular unusual event. Actually the most gullible are the people who think of cryptocurrency as an "investment" XD
I don't know. I always store my crypto offline. I bought $1000 worth of bitcoin when it was less than $100 per bitcoin because it seemed like something that could get big at some point, and I was willing to risk $1000 on that thought.
My thought was it will some day either be worth a lot or be worth 0 and I'm OK with both of those possibilities. I don't really think I was gullible about anything and yes I thought about it as a risky investment that turned out to pay off quite well.
It’s an investment the same way that playing the lottery is. I had a family member win ~$30MM back in the 80s, but he had played the same numbers for decades; someone who knew of this stole the winning tickets and he ended up only getting 7.5MM of the winnings after a protracted court case.
Crypto is the same thing. You put money in and you may cash out quickly with a big number, but someone who knows can swoop in and steal your money in a way that is much easier than if you used more traditional investment and banking vehicles.
Thinking you can store your crypto with some 3rd party that _definitely_ won't get hacked (or """hacked"""), also thinking your crypto won't become worthless from a singular unusual event. Actually the most gullible are the people who think of cryptocurrency as an "investment" XD
I don't know. I always store my crypto offline. I bought $1000 worth of bitcoin when it was less than $100 per bitcoin because it seemed like something that could get big at some point, and I was willing to risk $1000 on that thought.
My thought was it will some day either be worth a lot or be worth 0 and I'm OK with both of those possibilities. I don't really think I was gullible about anything and yes I thought about it as a risky investment that turned out to pay off quite well.
It’s an investment the same way that playing the lottery is. I had a family member win ~$30MM back in the 80s, but he had played the same numbers for decades; someone who knew of this stole the winning tickets and he ended up only getting 7.5MM of the winnings after a protracted court case.
Crypto is the same thing. You put money in and you may cash out quickly with a big number, but someone who knows can swoop in and steal your money in a way that is much easier than if you used more traditional investment and banking vehicles.
¯\_(ツ)_/¯