@silver79 made some good points, however I believe that it is a two way street; there are resources out there that help investors make the right decisions. The problem comes when new investors are blinded by greed.
The solution does not solely lie on the backs of the community. Rather, it is the responsibility for the new investor to seek out said information.
I believe that there isn't just one solution to this issue. There will always be a group of people that are late to the party who are simply here to make money. We've seen that throughout history and we will continue to see it in the future. That is just something that we must accept.
This is really a symptom of a larger issue: irresponsibility in finances. This is not just an issue in crypto. It's an issue everywhere.
I think that in addition to what @silver79 suggested, we should also work on general financial education. Although there are some differences, much of what you learn financially can be translated into crypto. We don't just need more responsible crypto investors, we need reponsible investors period.
Anyway, excellent post @silver79. Looking forward to what you post in the future. Upvoted and followed.
Great input on this VERY well-done post!
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Thank you!
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Great insight. I do agree that in the grand scheme of things, the lack of financial literacy is the root cause of what we are witnessing in the community today. That is something I would definitely love to discuss more in the future.
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