I'm aware that "the context was crypto." Except when that's the context, non-savvy people need to learn what "diversification" really means, and it's not buying other cryptos, which is just a horrible euphemism for speculation. But if that's what you're really claiming, then—no matter the "context"—you're just scamming them into buying something that is far less "safe" than Bitcoin.
Bitcoin of course being the "safest" crypto, since it's so ubiquitous, and because no one person really controls it. Not so even for Ethereum, even though it's the next best thing to "diversify" into (read: speculate on) in regards to crypto.
I think the casual reader needs to know that distinction, lest they get a nasty surprise such as—oh IDK—Bitcoin dumping 80%. Because if it does, then all the other cryptos will most likely dump 95% or more. Or worse, go to zero like the "safe bet" Luna. And so much for "diversification!"
It's like that due how all crypto coins are high risk assets that are all highly correlated to Bitcoin. And so the correct wording for buying other cryptos should never be "diversification" but speculation.
Use whatever words you like. The entire world except yourself considers splitting assets to multiple (still correlated, but not quite 100% correlated) as increasing diversification. You can speculate with diversification :)
>you're just scamming them into buying something
If you want to consider me a "scammer" for thinking maybe to not put 100% of your crytpo money in UST, or whatever shitcoin was used as an example above, so be it. Y'all are the ones that mentioned specific coins, not me, I don't even understand what you think I'm selling to "scam" people on. I don't even hold any crypto to sell right now, I'm not sure what benefit I could possibly have from advocating that someone consider diversifying their holdings.
Damned if I do, damned if I don't. If I have crypto, I'm a "scammer" trying to fuck people over by encouraging them to diversify. If I don't, it means I don't hold "investments" and am not worthy of recommending that people diversify their holdings. If I lived in Lebanon I would absolutely own some crypto, it's almost as if people adjust their holdings based on the environment in which they live.
If you think holding a single crypto is more diverse than holding multiple, have at it bro.
No, you're only damned if you demonstrate a lack of knowledge while not even having any skin in the game. That's not a good look, man. But sure, you're obviously not a scammer, I'll give you that. I'm sorry if that's what you thought I meant. Though it is misleading to call something that is actually speculation for diversification when it's clearly not. But look, I think I've made my point. Take it as a tradesman's advice. You don't need to follow it, but do it at your own risk. ;)
That would be a witty reply, were it I were guilty of making your hypocritical statement by association. As it stands, you were the one discounting the validity of not having skin-in-the-game, not I. Personally I think having the opinion of both those with and without skin in the game is often useful in forming a more well rounded observation. Of course you already voided your argument by stating your lack of the skin of the game makes your own argument "damned."
Dude, you're making investment advice, which you so obviously don't know jack about. That's the point. You should read a book on investments and try it out for yourself, instead of acting sore for being schooled and trying to pin your own failure on others. Anyway, good luck in life. And I guess especially with your future investments. I'm sure you'll be great some day, but that day ain't today.
Bitcoin of course being the "safest" crypto, since it's so ubiquitous, and because no one person really controls it. Not so even for Ethereum, even though it's the next best thing to "diversify" into (read: speculate on) in regards to crypto.
I think the casual reader needs to know that distinction, lest they get a nasty surprise such as—oh IDK—Bitcoin dumping 80%. Because if it does, then all the other cryptos will most likely dump 95% or more. Or worse, go to zero like the "safe bet" Luna. And so much for "diversification!"
It's like that due how all crypto coins are high risk assets that are all highly correlated to Bitcoin. And so the correct wording for buying other cryptos should never be "diversification" but speculation.