Once I was scrolling across the web and found something that caught my attention. It was a post debating whether cryptocurrency or stocks is better. And what got my full attention was the unique mindset each person has and their opinion. I read through each and every comment there is, and found that everyone has their own reason for sticking to their decision. Some avoid cryptos out of fear of the unknown risk associated, be it the prices going to zero, and rather stick to stocks (you can see that these people live their life risk-free). Some labeled it to be a scam and said that crypto is trying to steal our money(this includes stocks too). But there are those who aren't afraid of the risk and are willing to invest in crypto as they believe it's the only way to get rich fast(some even go all-in on crypto just to get rich ASAP. So I'll be comparing crypto to stocks for you guys to consider it.
Cryptocurrency
It's true that you can get rich easily with cryptocurrency. If you're lucky with the coins/tokens that you buy, they'll go 2x, 5x, 10x, or even 100. The truth is, luck is only a minor factor that'll help you get rich. What you need to do before buying crypto is research each coin thoroughly, about what they're created for, what their future goals are, and their potential to grow. I've seen people losing money with cryptos, some even lost their life savings. Do you know what they do next? They started blaming their luck, started blaming the cryptos and even the cryptos community when it's their fault they blindly bought it without enough research. So what I'll be advising is don't be lazy just to research for information on websites like [CoinGecko](https://www.coingecko.com/en) and [CoinMarketCap](https://coinmarketcap.com/), it'll help you to earn money instead of losing it to your laziness.
Stocks
Stocks are a share of the company that you bought to be a shareholder. Stocks are much more stable compared to crypto, but it's good points, and also it's downside is that it takes time to grow from the bottom to the top as the company steadily and slowly grows, and crypto lovers dislike this point about them. But for those who don't like much risk, they'll choose to invest in stocks and be more at ease with it. Another thing is, while they're stable, there's risk involved too. All in all, enough research is needed to invest, no matter if it's stocks or crypto, else you'll be losing money before you even realize it.
Conclusion
All in all, while it's not wrong to want to get rich, it's better if you lower your risk by diversifying your portfolio. Either tipping more percentage towards crypto or stocks, depending on your risk tolerance. For me, I'll consider 25% stocks and 75% crypto. I'll be starting to allocate a portion of my salary to buy crypto every month and I'll be sharing with you guys about my choices of crypto each month and the reason for it.
I'm still a beginner at writing and will focus on improving each and every day (I know my writing sucks). At least hoping I'll write better by the end of Dec this year.
Being a 30+ year investor in the stock market, I think 75% into crypto is a bit crazy. And while I am fairly conservative in my investing strategy, this is true, I am willing to take what I like to call CALCULATED risks based on what I know, and what my research tells me that I can be fairly certain of. The word "fairly" is an important word in that no one, of course, knows ultimately what ANY investment will do.
In any event, I think most of what you said here is true. Even of the 'blame game.' This happens in the stock market all the time. People dive in, don't do any research, lose their money, and then claim that whole system is rigged. It's, of course, as you pointed out, and unfair analysis. But that's how many people think.
I would recommend no more than 5% of your entire investment portfolio be put toward crypto. Why? Because it is an uncertain and untested market essentially, being that it is only 12 years old to date, and really has no underlying source of something tangible to REALLY give it its value.
For example, when it comes to stocks there are many factors that determine the price. Revenues, margins, future goods or services, the value of assets like buildings and equipment and employees, production capacity and the ability to expand it, cash flows, debt to income ratios, price to earnings ratios, cash on hand, the ability to raise more capital through equity offerings and so on and so forth.
Crypto has none of these things IMO, so it makes it MUCH more difficult to actually place a value on them.
That's not to say the stock market is a sure bet. I have been feeling like a major correction is coming for about a year and a half, and as a result I have been converting many of my stock market holdings into cash. Right now my positioning is 40% stocks, 58% cash, and 2% crypto. Typically stocks account for about 60% of my holdings.
For me, crypto will likely never surpass 5% of my holdings. But that's something for time and testing to prove. If I feel like crypto really has legs for me, of course I will ramp up my investment into it.
But for right now I have no intention of being over exposed.