this post was submitted on 06 Dec 2024
331 points (97.2% liked)
196
16704 readers
2286 users here now
Be sure to follow the rule before you head out.
Rule: You must post before you leave.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Don't get me wrong, I'm not claiming this isn't insider manipulation, or that it should be legal.
What I'm saying is people have a personal responsibility to be informed about the risks associated with cryptocurrency.
At this point, if you lose money on a pump-n-dumps, that's all on you.
The same could not be said five years ago, when influencer coins were unheard of.
Idk if you have ever looked at or downloaded a retail trading app, something like Robinhood. All of them have a prominent “education” section which distills down to “don’t take our word for it; know what you are buying before you do.”
You are correct that people have a personal responsibility to be informed about the risks. However ALSO, marketers of the risky assets also have a responsibility to inform traders of their own investments and that risks are even possible when giving financial advice—this obviously is happening nowhere because no regulating body requires it.
This is why I don’t hold it against anyone in this situation for not informing themselves. They can’t inform themselves if they aren’t even told it might be necessary, and especially not when that “personal responsibility” you speak of is actively hidden from them.
Hope this makes sense :) appreciate the discussion