http://www.investmentwatchblog.com/millennials-are-delusional-about-how-rich-theyre-going-to-be/
Interesting enough, you see this in Bitcoin all of the time.
People mortgaging a house , (that was already paid for)
Using Credit Card Debt to Buy as much Crypto as Possible,
(This lead up to the $20000 overpriced BTC, and the blockage by Banks aided the downward collapse of BTC)
All thinking it was going to make them Ultra Rich, and the exact opposite has occurred,
Prices are Crashing with little incentive for anyone to buy them , as everyone knows the price is going lower.
FYI:
All those people that purchased BTC with CC Debt , and now can't afford to even pay off that CC Debt.
https://www.zerohedge.com/news/2018-12-06/economic-downturn-credit-cards-arent-being-paid-accounts-are-being-closed
So the next guy that yells BTC will Moon Again, ask him/her , who is left that is stupid enough to throw their money at it,
when it has already wiped out the financial future of millions that believed in it like a false religion.
FYI2:
To all of fanatics that claim , you don't lose anything til you sell.
Go tell that bullshit to the guy losing his house and possibility his wife, because his job can't pay the new mortgage.
Or the millions that credit is destroyed.
It is 7 years to restore bad credit, so expect this crypto winter to be as least 7 years.
Does anyone really think BTC can survive a 7 year bear market?
BTC Death Spiral in less than 3 years, set your watch.
Quote
So why do so many think they’ll be rich? They may be “delusional” about “how much money they are able to save and how much they will be able to earn,” explains Agnes Kowalski, a wealth therapist — who adds this can happen with people of all ages. But she explains that millennials in particular “have incredibly powerful new belief systems about not capping how much money can be earned” as “there are so many careers that were non-existent even 10 years ago” — which may help explain why they think seven figures is possible.
Interesting enough, you see this in Bitcoin all of the time.
People mortgaging a house , (that was already paid for)
Using Credit Card Debt to Buy as much Crypto as Possible,
(This lead up to the $20000 overpriced BTC, and the blockage by Banks aided the downward collapse of BTC)
All thinking it was going to make them Ultra Rich, and the exact opposite has occurred,
Prices are Crashing with little incentive for anyone to buy them , as everyone knows the price is going lower.
FYI:
All those people that purchased BTC with CC Debt , and now can't afford to even pay off that CC Debt.
https://www.zerohedge.com/news/2018-12-06/economic-downturn-credit-cards-arent-being-paid-accounts-are-being-closed
Quote
A new report is shining some light on an indicator that the economy is about to take a major downturn.
Credit card accounts are not being paid and some accounts are being closed in anticipation for an upcoming recession.
Credit card accounts are not being paid and some accounts are being closed in anticipation for an upcoming recession.
So the next guy that yells BTC will Moon Again, ask him/her , who is left that is stupid enough to throw their money at it,
when it has already wiped out the financial future of millions that believed in it like a false religion.
FYI2:
To all of fanatics that claim , you don't lose anything til you sell.
Go tell that bullshit to the guy losing his house and possibility his wife, because his job can't pay the new mortgage.
Or the millions that credit is destroyed.
It is 7 years to restore bad credit, so expect this crypto winter to be as least 7 years.
Does anyone really think BTC can survive a 7 year bear market?
BTC Death Spiral in less than 3 years, set your watch.
Its much worse,
The stock-market of 29' took 30 years to recover,
The gold crash of 1978-1982 took 20 years to recover,
HODL'r morons don't understand that these HUGE trillion usd parabolic-rises, takes generations for people to forget, and return.