Comment on Elon Musk Fans Are Losing So Much Money to Crypto Scams
finitebanjo@lemmy.world 2 months agoThey might also just be the target demographic for pig butchering.
- Middle Class
- Over 40
- Conservative Male
But yeah there is definitely correlation with low cognitive ability.
echodot@feddit.uk 2 months ago
You also have to be the sort of person that genuinely believes you can get something for nothing. You have to have a relatively low IQ for that to be the case.
You also have to have a relatively low IQ to continue to listen to anything Musk says, so the group are Self-Selecting.
HK65@sopuli.xyz 2 months ago
You need to believe that you can get ahead in society by being smarter than the competition, instead of just being luckier.
They are naive if anything.
captainlezbian@lemmy.world 2 months ago
Not really. You have to be the sort of person who understands that investment works and not how it works or why it works and most importantly why you aren’t going to hit the jackpot on it even though some people do. They’re the standard marks for an investment con. So yeah they’re stupid and self selected, but the mechanism of action is important because it shows us how to help people avoid falling for it not just letting us feel superior to those who do.
echodot@feddit.uk 2 months ago
I feel like everyone understands the basic concept behind investment. But I also feel like pretty much everyone knows that there’s no such thing as a free lunch.
Whenever you invest in something it’s pretty obvious what the other party’s motivations are. If you cannot see how the other party could possibly benefit, then it’s probably because it’s a scam.