We've all heard the term "not financial advice", but why do so so so so so many people say it? I mean, it's not like you're gonna get sued over saying some random shit on Twitter (unless you're famous and promoting an unregulated security that you control).
Those who have been reading my blog for a while may remember that I used to troll this statement constantly. I'd always say things like "this is financial advice" and "everything I predict is 100% guaranteed to happen" and "sell your children into servitude" as a joke. I feel like a lot of people take the whole "not financial advice" thing to an absurd level. Like... get over yourself you're not that famous.
I mean I can certainly see how it all came about. If you say something to a friend or a big audience and they make financial decisions based off of what you said and get absolutely wrecked... yeah... that's not great, unless you're trying to lose friends and followers by trolling them.
When it comes to crypto, financial decisions are multiplied by x100 because of how volatile the space is. When a stock trader moves into crypto and sees a 30% dip: they are shitting their pants. Whereas crypto traders often regard a 30% retracement as totally normally and healthy even in the middle of a raging bull market. Perhaps even because of the bull market we would expect this to happen.
The ironically funny thing here is that everything is financial advice. Here on LEO the entire community is dedicated to providing financial advice and then we set up a disclaimer saying it's not financial advice. It's a fun little hypocrisy that nobody seems to question. Just make sure to call the financial advice not that thing so if someone loses money they won't blame you. Easy.
When it really comes down to it the whole "not financial advice" disclaimer is extremely mired within regulation and authoritarianism. Society treats everyone like children and makes these children dependent on them rather than guiding them to adulthood like an actual parent.
No one should be held accountable for giving bad financial advice unless they are a hired professional. It should be obvious that if you're going to act on advice given on a random social media site you might want to double and triple check beforehand.
"Do your own research."
Instead, people do what people do best: blame someone else for the bonehead decision they made. Hardly anyone in this world is actually accountable. After all, what's the point of being accountable if everyone else is just breaking the rules and acting like a child as well? Might as well stoop to their level, amirite? When everyone is a dishonorable rodent there's very little value in being honorable yourself. People like that just get stepped on. RIP Ned Stark.
At the end of the day people need to take responsibility for their own actions. We shouldn't have to tiptoe around every statement we make because it might hurt someone's feelings randomly. I can support trans people without saying "He/Him" every time I introduce myself, and I can do so better than all the slacktivist pretenders. I'm tired of the virtue-signaling bullshit band-aid 'solutions'. That path leads right back to the children's table. Do people really think that we are going to change the world by forcing everyone to talk a certain way?
Decentralization demands that people start being held to a higher standard. When you are your own CENTRAL BANK, you don't get to come crying back to mommy and daddy after you fucked up. Take responsibility and eat the loss.
There is no one else to blame but yourself. This is the future we are headed towards: and it's going to be a lot more profitable than allowing a centralized agent to run the entire show, even with all the extra risk. That's for damn sure.
