But, but, Matt Damon said "fORtUnE FaVORs tHe bRaVE".
Yes, I'm glad this ponzi is crashing. You can feel somewhat sorry for the greater fools, but they're learning an expensive lesson and hopefully will not repeat their mistake anytime soon.
However, it's not like crypto is the only bubble crashing right now. Stocks, bonds, and (soon to be, but to a lesser extent) real estate - they're all going down in a pretty big way because the Fed is taking away the punch bowl. Yes, it seems unlikely that crypto would have inflated to the point it did without the Fed's easy money policy for the last dozen+ years, but neither would stocks or real estate. It gave us a culture where people thought they didn't need to work to obtain wealth, a few well-placed bets and you were gonna be set. But that mentality is corrosive in the longrun.
Yes, I'm glad this ponzi is crashing. You can feel somewhat sorry for the greater fools, but they're learning an expensive lesson and hopefully will not repeat their mistake anytime soon.
However, it's not like crypto is the only bubble crashing right now. Stocks, bonds, and (soon to be, but to a lesser extent) real estate - they're all going down in a pretty big way because the Fed is taking away the punch bowl. Yes, it seems unlikely that crypto would have inflated to the point it did without the Fed's easy money policy for the last dozen+ years, but neither would stocks or real estate. It gave us a culture where people thought they didn't need to work to obtain wealth, a few well-placed bets and you were gonna be set. But that mentality is corrosive in the longrun.