The harsh truth that crypto investors do not want to hear

1. IN A WORLD OF BITCOIN EXPERTS, NOBODY KNOWS ANYTHING

We spend much of our time trying to discern the true motivations of CEOs and self-proclaimed blockchain leaders, but perhaps we should be trying to discern our own. Many will claim they’re here for financial success, but the fact is the surreal phenomena of clueless blockchain experts and influencers could not exist were it not for the intense doses of “hopium” that summons it.

2. YOU’RE HERE BECAUSE OF EMOTIONS, NOT SHREWD FINANCIAL ACUMEN

Dreams might be all there are, however, as many gold prospectors in California learned the hard way, while the peripheral industries they relied on took full advantage of their plight.

3. MOST ‘EXPERT’ OPINIONS ARE BOUGHT AND PAID FOR

Human bots – people who are paid to go out and cheerlead for whatever scam coin is being pushed at the time. This isn’t a crypto-specific failing since the same phenomena can be seen in Amazon reviews, as well as any internet-based scenario where someone has something to sell. But it may surprise some first-timers to learn that they really can’t trust much of anything they read online in the crypto space.

4. DECENTRALIZATION IS A UTOPIAN PIPE DREAM

You can lead a horse to water, but you can’t make it drink. There’s a giant gap between what we  think is good for us, and what people actually want. People will say they want more autonomy, authority, and self-control, but when they realize that such things also require discipline and responsibility, then suddenly decentralization becomes something to be feared.

5. CRYPTO IS A BUBBLE: AT LEAST 95% OF ALL PROJECTS WILL FAIL

For an analogous situation, we can look to the booming growth in the cannabis stocks sector, the similarities between which produced the line: “Cannabis is the new crypto.” Just like crypto, the harsh reality is that a vast majority of these stocks will either fail or turn out to be the work of opportunists. That’s the opinion of CIO of Portfolio Wealth Advisors, who told Yahoo Finance last year, at the height of Tilray Inc’s 872% growth.

5 Harsh Truths No Crypto Investor Wants to Hear – But Ignores at Their Peril!, CCN, Feb 18