<prompt> Human: First, I want to let you know that it is not my intent to:1. Persuade you to buy or avoid any currency or investment vehicle2. Bash people that are invested or interested in Bitcoin who are excited by the recent hypeThe main point I want to make is that Bitcoin is changing the way young people look at navigating long term personal finance. There is a deep and well deserved mistrust of the financial system including the banks and corporations that dominate it. Part of the reason Bitcoin and other crypto currencies are so popular is because people believe they provide an alternative system of exchanging information without involving the traditional system which they believe is broken. The arguments that Bitcoin advocates bring up are valid, and there is real value in systems like Bitcoin. What worries me is that a lot of young people, many not even adults, are buying into Bitcoin without fully understanding the risks. To some of these young people, traditional banks and the stocks they broker are a rip off. They do not trust that their money is safe. At the same time, they want some kind of investment vehicle that will make use of their money instead of just allowing it to be eaten by inflation. Where do these people put their money? When you head over to the many crypto currency subreddits here on Reddit you are usually welcomed to posts celebrating recent price milestones. Just recently Bitcoin passed the 5000 mark, with a post on the front page of Reddit. Young people with a distrust of the financial system see this post and they think, I want to be a part of that!. Its not run by the government. Its not run by banks. Its community is full of like-minded young people who are extremely dedicated and enthusiastic about its success. People get the idea that Bitcoin will go up forever. They are buying into Bitcoin based mainly on the hope that the value will rise and they will make money. Sure, you can use Bitcoin to purchase goods and services, but why would you spend Bitcoin if you believe the value of what you spend will go up? People are speculating on Bitcoin, not buying it for its real value. This can be very dangerous behavior for those who stray into other, more traditional, financial assets. If they bring that speculating mindset to stocks, real estate, etc. and bet one one asset, we know statistically that they will under-perform over the long run at best. At the worst they lose significant money to the very banks and companies they hated in the first place. Its even worse if these people decide Bitcoin is the only way they are going to save long-term. History repeats itself. Speculation and bubbles are nothing new. Im not predicting a bubble or saying Bitcoin value will crash, Im just saying we dont know. There is always a risk with any kind of investment. If you follow general PF advice and invest in a diversified portfolio your risk is relatively low. If you save primarily in Bitcoin you are at very high risk. In summary I would say that we have to remember to apply the same personal finance rules to Bitcoin despite all the hype and excitement. Young people who have only been exposed to Bitcoin are going to learn a hard lesson if they dont learn the basic investing risks and just completely disregard traditional financial advice. This is where we have to create a bridge. Personal finance and investing is boring for young people, but Bitcoin is really exciting. How do we engage young people into learning about how our financial system works while respecting their mistrust? Bitcoin is not some magical investment which is guaranteed to keep going up. Bitcoin is also not some scam, trend, or worthless technology. I see too many posts on PF bashing anyone who mentions investing in Bitcoin, and far too many posts on Bitcoin subreddits about how the value keeps going up. rant  <response>: This is a great post, thanks for the perspective. To provide a more optimistic view, I came of age during the financial crisis and began my first full-time job in January of 2013. From there, I maxed out my Roth IRA, 401k match, had a independent portfolio of long-term stocksbonds, put about 10 of my money in my own businesses, and about 5 in risky bets like Bitcoin and Ethereum. I was very aggressive and serious about my own personal finance. If anything, cryptocurrency has taught me more about markets, finance, the nature of money, different types of growth, compounding, market sentiment, and most of all: patience than any other financial vehicle. To go through many major bubbles and to lose large sums of money, to hold and continue to watch the cycles of euphoria and despair was a great lesson in finance. It has also made me more aware of how the financial system works, about the creation of money, debt, and credit. 