LauraDourire t1_is4wqxe wrote on October 13, 2022 at 9:57 AM

Reply to comment by traumfisch in New AI Algorithms Predict Sports Teams’ Moves With 80% Accuracy by Shelfrock77

The point was that crypto investments or whatever share with gambling the fact that they're made appealing to a large number of people, used to lure in people who want to become millionaires (or are made to believe that), and are extremely dangerous, because realistically if you don't exactly know what you're doing (and even then, to be honest), it is way more probable you're gonna lose everything than having a positive result. They are both a trap to steal poor people's money.

The way they are presented to us in ads, or false corpo conferences from bullshit entrepreneurs, shares the same idea of "you can become a millionaire right now, yes, you, specifically" that is the very reason of being of gambling or sports bets and whatever.

traumfisch t1_is4wul5 wrote on October 13, 2022 at 9:59 AM

I didn't know this was about ads.

But if that was the point, I'd like to point out that most of investing at large is not advertised at all.

You're absolutely right, though, about the probability of losing all your money if you don't know what you're doing. A lot like with enterpreneurship, for example...

LauraDourire t1_is4y4hf wrote on October 13, 2022 at 10:16 AM

Not comparable in that regard imho. Investing in crypto is made available to anyone with an app on their phone. Everyone knows that building a business is not an easy way of becoming millionaire. Crypto bullshit is made and presented to people as exactly that : an easy way of becoming millionaire, and in reality, it is an easy way of losing everything you invest, because it's mostly a pyramid scheme.

traumfisch t1_is4yjkh wrote on October 13, 2022 at 10:22 AM

I think you've made clear how you feel about cryptocurrency. I don't have any interest in trying to defend it. But that rap about building (an online) business in order to become a millionaire... you haven't seen the ads??

Anyway the comment I was responding to said "crypto, NFTs, stocks".

I think equalizing all investing with gambling is way over-simplified and inaccurate. The dynamics of it all as well as the skillsets required to succeed are way different.

Feel free to disagree, I don't mind.