Quote from: Birddog37 on June 20, 2022, 20:36:17Someone, please change this guy's diapers!
People love lack of regulation when markets are growing. And then they cry wolf when they crash. This is exactly why we have regulation. Another matter could be so called stable coins. Sure, when you understand how algorithmic stable coins backed by so called cryptocurrency work, you know there are limits to their stability. But it could be argued that there was false marketing involved and fraud committed. When you're selling to retail investors, you should be careful with your marketing as those people often lack knowledge, experience, enjoy wishful thinking in copious amounts and are guided by greed. It's easy to sell them trash. People should remember that there is no profit without risk. If someone promises a big profit, it's extremely likely that there is also big risk, if it's not an outright scam.
And you're right. If he believed it's overvalued due to Musk's actions, nobody forced him to buy it. You can't internalize profits and externalize costs. If you want to pocket profits, you also have to cover costs when it goes south. And it will go south, that's just a matter of time. That's why you diversify.