03-19-2018, 10:08 AM
I certainly agree that it's a big red flag when someone who knows very little about investing starts talking about how I should invest in cryptos. That being said, I do have a tiny position in them. But I would never think of it as a part of my investment portfolio nor do I actually count that money to have any value.
I can accept people using them as a speculative play. They have given insane returns and they could still keep doing that for some time. Who knows? But I would never use them for something like retirement planning, the risk is way too high.
If it's money you don't mind losing, go ahead. If it's money you kind of plan on using at some point, then cryptos are not the way to go. I think that sums it up pretty well.
I can accept people using them as a speculative play. They have given insane returns and they could still keep doing that for some time. Who knows? But I would never use them for something like retirement planning, the risk is way too high.
If it's money you don't mind losing, go ahead. If it's money you kind of plan on using at some point, then cryptos are not the way to go. I think that sums it up pretty well.