I'm a little worried about how much of a position some of my friends have taken these digital coins but otherwise yeah. This party is going to end some time and unless you got in super early, I just don't think you're going to get rich. You might as well just learn how to options trade if you want to get into high stakes legal gambling.
Ask HN: Is anyone else glad the crypto market is crashing?
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Re: Ask HN: Is anyone else glad the crypto market is crashing?
#62Is it crashing? USDT seems to have recovered its peg, for now, and BTC is trending up since this morning. I admit I was hoping that wouldn't happen.
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#63It's a Macro crash. SP500 is down -%5 YTD. Meta -37%, Netflix -65%. Lots of pain spreading. You shouldn't gloat or be happy. Give it a couple of more months like this, and lots of the HN audience would be worried about layoffs.
The security of your average software developer job is strongly tied to market cycles.
If you want a place to direct your hate and bitterness, I would do it at the architects of the BOOM/BUSTS cycles that keeps happenings and destroys people lives.
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#64A bunch of numbers stored on a computer without a sizable military force backing them are worthless? Who knew...
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#65It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…
This. I cannot stand the modern crypto bro. I've met some truly insufferable people. The term "New Money" doesn't even do enough justice to how horrible these people behave.
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#66I’m not happy about people losing money.
However, I’m happy if this means money will be invested in innovation towards saving the planet, rather than finding new ways to burn resources with proof-of-work-based crypto.
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#67It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…
crypto bros are finally getting a punch to the mouth
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#68Look at the Terra sub or the replies on Twitter to the official account. Normal people losing all their life savings and a lot of them are contemplating suicide. It's actually really really sad. https://www.reddit.com/r/terraluna/
What, did they think it came without risk?
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#69I’m glad because this has allowed me to finally convince one of my elderly relatives to divest a big chunk of their savings from this garbage.
I can’t even begin to imagine how many nontechnical older people that downloaded TikTok to follow their grandkids have fallen for these bullshit pump and dump scams. I wonder how much of the real money that’s in crypto actually comes from utterly clueless people that are being actively exploited by a small handful of crypto “influencers.”
Re: Ask HN: Is anyone else glad the crypto market is crashing?
#70No? Why would anyone be "glad" about this? It says a lot about your personality to be that happy/glad about anything "crashing", whether you agree with it (crypto in this case) or not. Also, just a friendly reminder that NFTs don't equal crypto.