I personally hate the phrase "only invest what you can afford to lose", because those that need to invest the most can't really "afford" to lose any of it. Every loss hits them hard.

I wrote a post maybe a month back mentioning this. If a person is in a bad situation, they are going to have to take risks to get out of it - "saving" isn't going to cut it. For someone like I am talking to here, this isn't the case.

I think talking about it as discretionary income, or investing what you might spend on entertainment or things that aren't necessities is better.

This is a longer conversation, but one I do have with these people too. For me personally, there has been very little extra without taking it away from somewhere else - entertainment I paid for got largely cut, entertainment that paid got added - Hive is my hobby and my vice of choice.

Many have not gotten into crypto, and didn't years ago, because they didn't feel like they could afford to lose even a few bucks.

I find it interesting how people feel this way, while spend on non-returning activities daily that are a guaranteed loss. It is a perception of value in the valueless. Yes - there are some activities that could and perhaps should just be done for the fun - but "greed knows no bounds" applies to our pleasure seeking behaviors most of all.

You need to get a feel for the markets and get used to the ups and downs.

This is an important lesson.

Good to see you back around the place.