A Very Dangerous Thing Is Happening Now

More and more people are getting into cryptocurrency these days. The crypto hype is fever pitch and has everyone throwing their last into Bitcoin and watching it decline as it under attack. For those that dont know..many coins mimic the activity and volitility of Bitcoin and that is something most rookies dont know. They always tell you to consider the incline or decline of Bitcoin at the moment in order to accurately determine the performance of a coin you invested in. You cant blame a coin for going down slightly while Bitcoin is dipping by $5,000 at the same time. Most rookies would see this as a coin performing badly and sell off in panic. This is dangerous on so many levels and we need to practice a responsibility when speaking about Bitcoin and financial advice.

I'm Extremely Irritated Today, This Is Why

I just got a off a texting session with a good friend of mine which happens to be a single mother while the head of the household is currently in prison. Things are tight on the bills and there is no steady source of income in the household. She is hearing the Bitcoin hype and thinking about jumping in with the money she has left. I try to explain to her the rookie mistakes that she can avoid and what dangers she might face. I finish telling her and I can tell its going in one ear out the other as I'm trying my best tp sway her away from investing at this particular moment since its her last. I can hear the desperation in her voice and I can hear that her eyes are full of green money signs. 

I Explained

Things are not skyrocketing as they should right now because Bitcoin is under attack in India, Korea and facing some resistance in certain places. This makes it harder for altcoins that follow it which will make them volatile also. Imagine you put your last into crypto but you NEED the money within a month for bills, food, and necessities for your children. What do you think your gains would look like in a month from now with all this uncertainty and volatility in a month from now? WE DONT KNOW RIGHT?? EXACTLY!!! This is what I tried to explain..

She Said 

"I gotta figure something out cuz you know how it is right now"

I Was Sad

I could hear the desperation in her voice and the green in her eyes. I said lets figure something out that is safer than crypto right now through text later. Guess what? No response.

What Do I See?

Her on social media still asking for advice on her Facebook page.

Excercise Responsibility

There are single mothers risking their last in order to get rich overnight based on the bullshit that people post on social media not knowing that they're just trying to sound smart for the stupid people. This is dangerous and irresponsible.

Why?

I think some people want to hear what they want to hear so bad that they'll do anything to satisfy that itch. We are sometimes an instant gratification species but I gotta tell you..I always say "DESPERATION CREATES NEW PEOPLE".

Her Children's Father Which Is In Prison Is A Friend Of Mine

and I cant do shit to save his family :,( When will people learn..fast money comes with bad endings.