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submitted 3 months ago by spujb@lemmy.cafe to c/196

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[-] Zozano@lemy.lol 11 points 3 months ago

I understand that, but I seriously doubt these people are losing essential money. If you can afford to buy Hawk Tuah coins for the 'community aspect' then they probably aren't at risk of losing their life saving.

There's a big gap between what's happening here and telescammers robbing grannies for example.

[-] spujb@lemmy.cafe 13 points 3 months ago

you’re free to believe that, without proof there’s no argument either way, and in any case it’s my personal belief this kind of manipulation of assets should be illegal no matter the target audience

[-] Zozano@lemy.lol 5 points 3 months ago* (last edited 3 months ago)

Don't get me wrong, I'm not claiming this isn't insider manipulation, or that it should be legal.

What I'm saying is people have a personal responsibility to be informed about the risks associated with cryptocurrency.

At this point, if you lose money on a pump-n-dumps, that's all on you.

The same could not be said five years ago, when influencer coins were unheard of.

[-] spujb@lemmy.cafe 1 points 3 months ago* (last edited 3 months ago)

Idk if you have ever looked at or downloaded a retail trading app, something like Robinhood. All of them have a prominent “education” section which distills down to “don’t take our word for it; know what you are buying before you do.”

You are correct that people have a personal responsibility to be informed about the risks. However ALSO, marketers of the risky assets also have a responsibility to inform traders of their own investments and that risks are even possible when giving financial advice—this obviously is happening nowhere because no regulating body requires it.

This is why I don’t hold it against anyone in this situation for not informing themselves. They can’t inform themselves if they aren’t even told it might be necessary, and especially not when that “personal responsibility” you speak of is actively hidden from them.

Hope this makes sense :) appreciate the discussion

this post was submitted on 06 Dec 2024

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