201–210 of 454 posts
Curious - does anyone not think Bitcoin or any other cypto coin is being manipulated?
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thats like, your opinion bro. In all seriousness I am ok with crypto punishing gamblers, eventually people will learn to stay away from it, or be forced to stay away from it because they have nothing left to gamble. I don't see how this is more morally repugnant than casinos which are legally accessible in most of the US.
Yeah and after all, the world's poker chip factories consume the same amount of energy as Argentina so it's an apt comparison.
If it seems otherwise it might be because you see articles on Bitcoin's energy consumption all the time, and not as much about casinos.
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I knew when I bought crypto it was being manipulated. I don't give a fuck, I use it as a medium of exchange usually dumping it within a few minutes of buying it in order to buy some goods online to avoid credit card fees (precious metals). It's true dollar is manipulated. It is true crypto is manipulated. It is true many people such as myself purely is it as a medium of exchange. Just like with dollars, I dump it as…
The definition of "manipulated" which allows "the dollar and BTC are both being manipulated" to resolve as true is so broad that it is effectively meaningless. The dollar is not being manipulated in the way that reasonable people understand the word to mean. BTC obviously is.
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It's always jealousy. People see someone they view as "undeserving" doing better than themselves and react with hatred.
This. A lot of comments in here spewing hatred toward crypto seem to come from a psychological defense mechanism. People were wrong and decided not to move to crypto and are now doubling down on that position to feel better about their poor choices.
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> US equities have intrinsic value Really? My impression is that many US equities in 2022 are more like Reddit up/downvote scores than a reflection of intrinsic value. Which isn't a bad thing in my opinion, by the way.
Firms used to give out dividends, that would make it easier to claim it had intrinsic value (future cash flows discounted). Now it appears the only intrinsic value is how much another firm would pay to acquire the company and do X with it.
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> People who haven't worked in financial markets have a hard time appreciating how deep the muck can get. That's the main reason why I find the battle cry of "decentralization" so comically ironic. No government can control crypto, how awesome and empowering! When the truth is that the vast amount of control that we've seen develop in the past century (and especially in the past two decades) were just to protect peop…
> the truth is that the vast amount of control that we've seen develop in the past century (and especially in the past two decades) were just to protect people from said muck. Think of the children! Do you really believe the vast amount of centralized control is to protect the poor stupid people? I think this is an incredibly naive and gullible take. The vast amount of controls in place are to solidify power amongst…
Look, for example, at food regulation. Anybody who has worked in a restaurant can tell you a) how important food safety is, and b) how much health department regulations contribute to keeping them effective. That's good for almost everybody, but it's most valuable to those who buy food from low-end restaurants, where the incentive to cheat is strongest and where the clientele is low on political power.
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Yeah and after all, the world's poker chip factories consume the same amount of energy as Argentina so it's an apt comparison.
This seems sarcastic but the amount of resources that has went into building all casinos, casino sites, and everything related to the industry dwarfs the amount of resources that have went into bitcoin by a lot. If it seems otherwise it might be because you see articles on Bitcoin's energy consumption all the time, and not as much about casinos.
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> US equities have intrinsic value Really? My impression is that many US equities in 2022 are more like Reddit up/downvote scores than a reflection of intrinsic value. Which isn't a bad thing in my opinion, by the way.
I think of it like this. If you suddenly owned 100% of Bitcoin, then you wouldn’t actually have anything valuable - nobody would buy it off you. If you suddenly owned 100% of Tesla then you’d be able to extract a lot of value.
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> People who haven't worked in financial markets have a hard time appreciating how deep the muck can get. That's the main reason why I find the battle cry of "decentralization" so comically ironic. No government can control crypto, how awesome and empowering! When the truth is that the vast amount of control that we've seen develop in the past century (and especially in the past two decades) were just to protect peop…
You have a lot more faith in the IPO underwriting process than I do. They don’t call it a “pop” for nothing.
I'm not sure what a "pop" (the idea that prices often go up on listing) has to do with anything. It generally means that the company underpriced its equity but by no means does this always happen.
Are you referring to a greenshoe? There's some misinformation there too, but it serves a purpose, too. [1]
[1] https://www.investopedia.com/articles/optioninvestor/08/gree...