For the past 2 days the markets have been correcting pretty violently. The stories of success and easy money have quickly turned into stories of misery and pain. In all fairness though, fuck those who invested irresponsibly.
No matter the point in history, there are always idiots that supply the market with money. I am partially grateful for them but at the same time these guys cause more harm. I see people that have worked like bees their entire lives only to unload everything in scams like Bitconnect. Others take credit card loans and double mortgage their house. When it comes to finding ways to make easy money these economic retards have an inverse ability to risk management. How very surprising.
One doesn't even need to have basic education in order to understand the concept of a ponzi. Yet, time after time, people fall for them with idiots multiplying in even greater numbers each time. This fact demonstrates one undeniable truth: Most people are idiots, willingly idiots. They also happen to live among us, vote and guide economic policy due to their numbers. They also have confidence, stubbornness and they will shit on you if you try to advice them beforehand.
The best way is not to help these people. If someone was stupid enough to put their life savings in cryptocurrencies while not understanding how it works then they deserve to lose it all and some more. This is simply a matter of survival. Much like natural selection they need to be wiped out economically, so hopefully they won't procreate and create more economic idiots. Nature has a way. We should not intervene in its path by disturbing the balance.
But you see, the government, won't allow this to happen. It will come to save these morons because they are the bread and butter of its own operation. It will deem necessary to "regulate" the markets because most people are functionally retarded beyond eating, fucking and shitting. And these simpletons that should have died out in some street corner they will get assistance and be able to procreate — yet again irresponsibly — successfully sustaining this perpetual moronic cycle.
If you are a true believer of cryptocurrencies and decentralisation and really want something better for our species then let these shitheads crash and burn. You will be doing humanity a favour. The alternative option is that you will have to pay taxes to sustain them and their offspring. Remember, whatever gets subsidised we end up with more of it. Human stupidity is no different.
