[finebalance]

There was this story on bitcoin, maybe on Ars, in which they interviewed a cleaning lady who'd put just about her entire life savings into the coin when it was near, what we now realize, its peak.

Since then, bitcoin's fallen precipitously and I've personally felt plenty of schadenfreude about it, but... as with nearly every financial scam, it is rarely those who deserve it who suffer the worst consequences.

[sacado2]

Putting your entire life savings into one asset is always a bad idea, I thought this was a well-known fact nowadays.

[jjkk0101]

while it is a well-known fact it is not always possible to diversify effectively due to external factors like transaction costs, legislation (e.g.: managed pension plans), not enough principal, etc.