Perhaps because you think it’s a good way to get ahead financially. A growing number of people believe the only way to make meaningful amounts of money is to take massive risks with the little money they have.

The term Financial nihilism was coined by entrepreneur and podcaster Demetri Kofinas.
It can be described as the realisation that there is a disconnect between how much something costs and how much it is actually worth.

Demetri Kofinas explains it as follows:
"Well, I sort of roughly defined financial nihilism, or market nihilism, as an investing philosophy, or an investment philosophy, that views the object of speculation as though they were intrinsically worthless. This is a meaningful departure from a framework that I had used up until this point, which was informed by people like Karl Popper and, most specifically, George Soros, who borrowed so much from Popper. The idea is that there is an empirical world, that world has value that we can discern, and there is a perceptual layer of reality where price exists. To the extent that the two diverge represents opportunities, either for remaining in cash with optionality or actually being invested. In other words, if price exceeds value, you want to stay on the sidelines. If value exceeds price, in other words, if something is undervalued, then you want to be invested."

According to Demetri this disconnect between price and value, came from globalism. And we see it in many areas of the economy. Housing, stocks and bonds are the best examples.

On a more philosophical node Demetri says the following about it:

"I still think there is an empirical reality, a discernible and objectively discernible reality, and I still think that our perception of reality is never perfectly aligned with it. However, I think that we are in a phase now where people's confidence in that type of model has been dramatically shaken—their confidence in the values that they grew up with, their confidence in institutions, all of those things. Out of that is born this nihilism. I specifically call it financial nihilism because we've seen it on display in financial markets, with respect specifically to meme stocks, and also in cryptocurrencies. It's this idea that reality really doesn't matter; what matters is perception entirely, but one step further, concluding that we can alter perception permanently and exist entirely within that perceptual realm, never having to be accountable to what's happening in the real world. I think that's not just troubling; I think it's ultimately false. But we're living through a period where you have to understand that, I think, in order to invest."

So the core issue with Financial nihilism is a lot of people not taking responsibility for their own finances.
At DBM we have taken on the task to help as many people as possible to take on that responsibility!
The Blockchain Assets Program is all about this!

Find out more about the program here: https://www.dbm.academy/dbm-blockchain-assets-program

Below a video from Coin Bureau

And an interview with Demitri Kofinas with a more philosophical node

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