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Interesting point. Would you rather have few unscrupulous, enterprising individuals have a significant proportion of wealth, or have this distributed between many people who are mentally challenged (easily conned)...

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> people who are mentally challenged (easily conned)...

I think the biggest predictor for being conned is not low IQ but high greed.

People who are smart and greedy have much more effective ways of satisfying their greed than investing in fly-by-night crypto schemes. This typically looks like selecting a career path based primarily on its expected return.

I didn’t think of that but you are totally right! I’d say greed has much more to do with it than IQ

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