People Are Taking WAY Too Much Risk on Cryptocurrency

This is getting a crazy: People are maxing out credit cards to buy bitcoin, and even mortgaging their houses. A survey of Bitcoin investors show that 18% of them used credit cards to buy Bitcoin. 

 

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I know. It's INSANE. I actually know people who are doing things like this. Crypto is indeed minting new millionaires, but a ton of 'little people' who seem to be suddenly foaming at the mouth but have no idea what they're doing are going to lose big on this. Guess that's when the regulations are going to bite down hard (like they did after the housing bubble). 

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Surely cryptocurrency isn't going to pop its bubble when Katy Perry advertises it on her fingernails: 

 

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That alone will probably make thousands more run out and mortgage their house. But it's a very interesting psychological phenomenon to look into. Why are people who have never shown any interest in investing and who are in way over their heads going so crazy for this?

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Well, many argue that the returns from Bitcoin will more than cover the interest they accrue on their credit cards.

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mortgaging your house to trade seems like a very bad idea. The craze that is cryptocurrency surely will take many people under. But someone stands to gain. Who?

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