Crypto is inappropriate for most people's investment needs. Let's call it lotto tickets < alt coins < bitcoins < pink sheet / penny stocks.
Have some fun if you like -
@Darson for example. Revel in your windfall from a couple of hundred dollars of play money turning into a hundred grand worth of bitcoin. Buying bitcoin now with a sizable chunk of your net worth is a huge error. < not that it can't turn out great but because the risk it too high for the potential returns >
I do have some sympathy for folks with so little net worth that taking a "swing for the fence" approach is their only hope. Age and poverty doesn't end well.
Along the same line, person just starting out in life can blow their life savings playing house advantage casino games. Why not play keno for $5,000? Someone has to win. Right?
Crypto is not an investment. It is straight up speculation. That doesn't mean money can't be made, just that the risks are high and the chance for all sorts of fraud are ripe.
I would be shocked if your financial planner would tell you anything different -=- DrStrange
PS a poker parable. Once upon a time a crafty youngling walks into an underground card game. Pulling out $200 set aside for rent, they buy into the game. Luck and skill somehow turns that $200 into $125,000 by the end of the weekend. The old sharp running the game invites our Hero into the Big Boy's Game. What should be done? Isn't the worst case losing the original $200? Or could it be said that our young Hero is actually risking $125,000?
If you are sitting on six+ figures of bitcoin, that is what you are risking. Not the much smaller original investment. The risk tomorrow is the value of the investment today. It is life changing money for many people. Maybe a middling approach would be prudent? Just saying we don't press our bets at the crap table forever. There comes a time to take some of the money off the table