101–110 of 197 posts
Earlier quoted context omitted.
The OP said Bitcoin is like the lottery. It’s on him to explain that. The lottery has not returned value to almost every person who bought a ticket in the past decade, Bitcoin has. It’s a false and inept analogy.
I think the overwhelming majority of people who bought Bitcoin have paper gains only, not realised value.
"Let’s state the uncomfortable truth. The future for many Americans is bleak and their lives are going to be nasty, brutish and short." I find it funny how first-worlders are horrified by the idea that they might have to live in mild discomfort. Maybe try looking at how most of the world that isn't the US and Western Europe lives before saying people's lives will be "nasty, brutish and short" because they won't be wo…
Earlier quoted context omitted.
On the Sampo generation wiki, 53.5% state that there's no money to save. Although I'm not an expert on these matters, what happened to packing your bags and moving out of Seoul or Gyeonggi-do to save some money? I think the motivation may not be there for some or social pressures keep people where they are in life. In Korea, you can easily raise kids if you're outside of Seoul/Gyeonggi. The teacher to student ratio i…
Not enough jobs. People do settle in smaller cities if there are jobs - the city of Ulsan has higher GDP per capita than Seoul, thanks to Hyundai Motors and other big plants, but it's not exactly easy to get one of these jobs. In the end, most people flock to the greater Seoul area because that's where most jobs are.
It's sad because it is much more enjoyable and realistic to live, raise a family, and buy a home in these types of areas as compared to a city.
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You could already own land, houses, cattle, ownership shares in companies that produce useful goods other humans want, all things the government doesn't control. If the concern is the government could potentially seize control of those things, sure, but a sufficiently malicious government can seize control of you and no amount of magic numbers on a USB stick is going to stop them.
I predict his reply will be that your property rights to land, cattle, homes, and common equity are protected by governments.
Earlier quoted context omitted.
> IMO The real issue is a crap education system which gives neither opportunity, nor good advice The nihilism of YOLO has little to do with schooling. A broken education system is well after the fact of the economic and social reality constituting their environment. The young today have impossible economic hurdles: unaffordable shoebox apartments, high student debt, no incentive to save, no good jobs for modest tasks…
> no incentive to save I highly disagree with this. The S&P 500 has returned 400% since the crash in a mere 12 yrs. If doubling your money every 6 years does not sound excellent to you, the it's a financial education that is lacking, not real opportunity. > in-person communities are fractured by many different spoken languages I actually have found this really enjoyable, to have lots of opportunity to speak/learn Spa…
Why does it suck? If people want to self-medicate, why judge them? A society where everyone must be “high achieving” sounds like a dystopia. We’re practically already post-scarcity on a lot of goods and automation is going to further eliminate the need for workers.
> And so we see Gamestop story fall out of that. In a nutshell a bunch of retail investors (possibly with help from institutional insiders) decided to pump a small cap stock far beyond what the valuation of the company should be. This completely ignores the fact that the stock was shorted over 100% of float, and people knew it was going to squeeze so they bought in hoping to ride the wave. And that did in fact happen…
Strong agree. This is a lazy polemic. Take, for instance, this one amazing part: > Goldman Sachs, Citadel, Andersen Horrowitz those guys are making transaction fees "Andersen Horrowitz"? Does the author have any idea who he is criticizing or what industry they're in? > Failing microcap stock GME is not a microcap stock, and it was not a microcap stock, even before this entire saga > I make no pretense that I don’t de…
> Erroneous double negative here, does he even proofread his own work?
Do you? The double negative stands.
He has previously written extensively on his dislike of Bitcoin. Far from lazily.
> Everyday I see a world where many in my generation have simply given up all hope for opportunity of a family, a house, a stable career and forced to confront an uncertain future in a world that is slowly boiling itself to death. South Korea and Japan are 10-20 years ahead of the same curve here. However, the result has been resignation and stagnation, not revolution. https://en.wikipedia.org/wiki/Sampo_generation h…
> Everyday I see a world where many in my generation have simply given up all hope for opportunity of a family, a house, a stable career and forced to confront an uncertain future in a world that is slowly boiling itself to death. South Korea and Japan are 10-20 years ahead of the same curve here. However, the result has been resignation and stagnation, not revolution. https://en.wikipedia.org/wiki/Sampo_generation h…
"Let’s state the uncomfortable truth. The future for many Americans is bleak and their lives are going to be nasty, brutish and short." I find it funny how first-worlders are horrified by the idea that they might have to live in mild discomfort. Maybe try looking at how most of the world that isn't the US and Western Europe lives before saying people's lives will be "nasty, brutish and short" because they won't be wo…
Is this sarcasm?
"Let’s state the uncomfortable truth. The future for many Americans is bleak and their lives are going to be nasty, brutish and short." I find it funny how first-worlders are horrified by the idea that they might have to live in mild discomfort. Maybe try looking at how most of the world that isn't the US and Western Europe lives before saying people's lives will be "nasty, brutish and short" because they won't be wo…
Do they mean decreases in life expectancy? Student debt? Homeownership? Disease prevalence? Violent crime?
It's continually stated as an axiom, but poor writing such as that really weakens their argument.