'I have been in shock': Letters reveal financial distress after Celsius, Voyager bankruptcies

Cryptjitsu said:
Your average person getting into crypto has a full time job, family and all that real life stuff, they do not have the time, and likely the capability, to deal with the cybersecurity that crypto truly requires. Sure, they can just stack BTC & ETH quietly into cold storage, but the crypto game is so much more dynamic than that now. They may want some extra yield, or to borrow against their asset. Going to Celsius/Voyager/Blockfi is a logical choice.
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Not with a big chunk of your life saving it isn't. There's no Government safety net if anything goes wrong. And interest rates way above what you can get from a bank should ring alarm bells. There's no such thing as a free lunch, and if something seems too good to be true...

Your average person should be wary of anything crypto.
 
Ed48 said:
Not with a big chunk of your life saving it isn't. There's no Government safety net if anything goes wrong. And interest rates way above what you can get from a bank should ring alarm bells. There's no such thing as a free lunch, and if something seems too good to be true...

Your average person should be wary of anything crypto.
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What is your point? Young people want to gamble with memecoins, not boring equities. Those seeking premium returns venture out away from regulated markets into the wild west of DeFi ponzis/rugs/scams for a reason. The rush for premium returns to get rich before everyone else is on. Government safety net means the average folk get gatekept and then drained by Wall Street.
The regulation is coming, yes, because the average person only pretends they can handle the risk, until they actually have to deal with it. Then they cry.
However, the alternative is to sit in investments that are pretty much guaranteed to lose out versus inflation.
 
So, the same thing as this company did:

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