My boyfriend is addicted to various financial products, especially stocks, options, and worst cryptocurrency.
Every night he’ll spend hours watching on the markets and trade. We had arguments a few times. He insists that cryptocurrency is the future trend, like everyone is trading these meaningless coins, and NFT stuff is cool and everyone is buying, blablabla can be used in the Meta world in the future.
I hate these cryptocurrencies because it’s a violation of general economics and financial systems, and most importantly, it’s illegal, and it has NO actual value at all. He has been playing with stocks and options for a few months already, along with his friend. I’m okay with him paying proper attention to the stock and options market, and winning or losing on that won’t be too much to afford.
I’m also kind of okay with him being a supporter of cryptocurrency because it’s ok to just recognize an emerging thing. But I have a very strong objection to investing in cryptocurrency, and I’m scared that my boyfriend will end up buying these coins and naively think he’ll earn some extra money for that. He’s been talking about the coins for a few weeks already, and I really don’t want him to be a victim of that market. I’ve tried to convince him not to touch it.
He promised but he doesn’t seem like has changed his mind. What should I do… I’m really scared he’ll get hurt.
Here are what netizens think:
- Don’t offend him too much, treat him nicer. When he becomes a millionaire, he might share some with you. Cash is trash in this period of hyper inflation. Personally i prefer stocks and now there is a firesale, great time to load up. As long as he manages his allocations and risk properly, avoid the rubbish coins n tokens, nothing wrong with crypto.In fact I think it is closest to the most pure form of free market economics. Since there is no real fundamentals like earnings, the price is purely based on supply and demand supported by network effects. Unlike tulips there is utility value in the blockchain so it can’t go to 0.What’s legal is not always good. Look at the massive hole the US fed has dug for itself. Massive inflation created by the abuse of ‘legal’ policies such as QE, massive stimulus, etc.
- Kindly go read up on Blockchain Technology and Smart Contract before you start blabbering that cryptocurrency is illegal and has no actual value.If U have no knowledge on the stock market and start investing in it, most probably U will be losing money in time to come. It’s the same with crypto trading.If crypto is illegal, our DBS and OCBC won’t be trying to set up their Crypto Exchange.So for those who have lost money on crypto, kindly gain a whole lot of knowledge first before stepping in.