Don't invest more than you can afford to lose, it's the basis of any investment strategy. If someone puts enough money into highly risky, speculative assets such as these that it would ruin their life, then they only have themselves to blame if you ask me... People have to take responsibility for their own choices.
Edit: -4 that's a new record for me, thanks guys!
If crypto wants to replace dollars, they are going to have to do better than this.
Would you tell someone who's dollars are stolen 'don't have more dollars than you can afford to lose'?
AXS's value is derived from a pseudo-feudalistic share cropping model called 'play to earn'. People in low income countries put up their real assets to borrow AXS tokens and NFT's to play the game to earn an income and farm items to sell to western players who can't spend all day grinding. Imagine if Blizzard designed WoW's monetization around exploiting all the Gold farmers?
Our frustration stems from our inability to get both of you in the same room to duke it out once and for all.
If only the world were such a simple place where there is only one right and one wrong answer.
And for the record, the argument I’m perceiving from you (“crypto is a speculative investment, invest carefully, enjoy it if you win”) is the closest to reality of all of these arguments IMO. But I do also believe that highly speculative things like this make for bad day-to-day currencies, and have not yet been convinced otherwise.
I mean, you must agree it is good advice in hindsight to not hold all your eggs in one basket in this case. I do.
Now with that said, someone may respond to mention that it’s key feature is actually [a store of value/decentralised digital money/new gold etc] and that person will be wrong.
https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...