Why Millennials Should Not Buy Stocks (Until They Are Rich Enough) by Satoshi Knotabolo

Anyone considering buying into an aging asset like the US stock market needs to read this first

Do you trade Stonks? Place your purchase orders at the circuit breakers

I woke up today 3/11/2020 to all the markets in red, we have a coronavirus in the news and oil is selling off. The reasons are more complex than a few major incidents. We’ve been expecting a market rethink for a few years and most experts have predicted 2020 as the year it would hit us.

Rethinking the market is not evil, in fact that is what the market needs to survive. Boomers owns enough stock in mutual funds and 401k’s. Retirees should not be very exposed to equities like stocks, but the FED leaves few alternatives with almost negative interest rates.

With the markets in red, I’m looking forward to what I can buy. I turn the box of Squawk, CNBC’s mess of a financial ad. They announce that the S&P has “circuit breakers”. If the price drops 7% on the day trading is delayed, 14% on the day and another break triggers. If the market drops 20%, they will pack up and go home.

Some of us have done research and are trying to buy assets on the cheap. Why price millennials out? We already have negative feelings about Street error after coming of age during an accident with no recovery. High barriers to entry have forced us to adopt crypto trading over stocks.

Thank god my exposure to stocks is small because their market is dying out and selling assets to live off of. If they ever put circuit breakers on BTC, I won’t be able to make sats out of weak hands. It’s easy for me now but not when BTC can no longer drop 40%. Thinking about the bitcoin network shutting down makes me laugh. Things like this that make me happy that I rarely need traditional markets.

BTC game theory goes beyond the miners and 51% attacks. I recently read something @ coinmonks, which goes into more detail about the psychology behind occupants and their impact on the market. This, to me, is the interesting stuff that no one talks about.

I’ll be back for stocks when blood in the streets or BTC is above a million USD.

Now you don’t even need to leave NevaFomo.com to exchange over 400 different cryptos. Here @ https://nevafomo.com/satoshi-notapopos-collection-of-crypto-dex-swaps/

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