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* Call it a fad * Price goes down * Buy * Say it's not a fad * Price goes up * Sell * ... * Profit?
But the Profit cycle is fully complete here.
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Like it or not, major figures in the financial industry saying “this is legit” helps bitcoin’s image which has knock-on effects. Bitcoin still struggles from the “its only used to buy drugs” stigma even with some on here.
The point of crypto is making these figures irrelevant.
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You joke, but Jim Kramer provides a valuable service. I was basically financially illiterate until I had someone who could YELL the information at me. THANK YOU JIM KRAMER!
The thing is that once upon a time, (I wanna say mid 2000s), there was a large segment of population (e.g. retired people with money) who though Kramer was impartial and who invested based on his advice.
Earlier quoted context omitted.
You joke, but Jim Kramer provides a valuable service. I was basically financially illiterate until I had someone who could YELL the information at me. THANK YOU JIM KRAMER!
The thing is that once upon a time, (I wanna say mid 2000s), there was a large segment of population (e.g. retired people with money) who though Kramer was impartial and who invested based on his advice.
> "The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that." I don't think he means bitcoin in particular, it could be any crypto currency. Bitcoin is still a ponzi scheme in bubble phase.
if I invest in Bitcoin today, am I still an early adopter?
Earlier quoted context omitted.
You joke, but Jim Kramer provides a valuable service. I was basically financially illiterate until I had someone who could YELL the information at me. THANK YOU JIM KRAMER!
The thing is that once upon a time, (I wanna say mid 2000s), there was a large segment of population (e.g. retired people with money) who though Kramer was impartial and who invested based on his advice.
Someone gave me one of his books, the first part of the first chapter explains that "Mad Money" is money you can put aside after buying things like disability insurance and making sensible retirement investments (and having an emergency fund, and so on).
Earlier quoted context omitted.
Like it or not, major figures in the financial industry saying “this is legit” helps bitcoin’s image which has knock-on effects. Bitcoin still struggles from the “its only used to buy drugs” stigma even with some on here.
The point of crypto is making these figures irrelevant.
Occasionally people are listened to because they have something to offer, like, say, running one of the world’s largest investment banks. His remarks immediately made Bloomberg, CNBC, and so on, which is just free PR. From the head of Morgan Stanley. Who in the current world, and not the glorious future one you want, commands respect and attention. Talk about biting the hand throwing your passion a bone.
And what’s your plan to make Gorman and other investment banks irrelevant with cryptocurrency? You’re talking about something like, what? A third of the world economy? I made that number up, but it’s probably even more. Nobody will have financial planning services and investments in your cryptographic future? End capitalism? How should I explain what you want to the soybean farmer next door who needs an ag loan from one of those very banks to buffer crop loss from an imported Asian pest? The free market will figure it out, and the entire system of capital allocation we all know is fundamentally broken and useless? If only he mined Litecoin?
The single biggest thing holding crypto back is tone deaf arrogance like this from its biggest proponents. Slow down, buddy, you’ve successfully monetized files of bits. Completely disrupting the entire world economy and making banks irrelevant is a wee bit far fetched and even if it isn’t, should be approached with a little more caution than a lot of crypto folks give it. You’re talking about the (imperfect) global system that feeds billions of people and keeps them alive. Show it some respect; only hundreds of thousands of people, nigh, millions, worked on it before the engineers with vim showed up and declared they know better.
Cryptocurrency is good. Let’s be reasonable when discussing it.