81–90 of 366 posts
Blockchain technology is heavily underrated. With this dip, it scared away all of the scammers, paper handers, and generally people that did not contribute to this space. This is the time where innovation will thrive rather than "get rich quick schemes".
I occasionally get asked by relatives and friends of what to invest in. Now I'm no expert but I guess in the valley of the blind the one-eyed man is king. Thing is what I tell them seems to bore them because, well, it's boring. My advice is basically this: Put your money in a broad index fund and don't look at it for 10 years. In giving this advice you start to realize it's not what people want to hear. It's not that…
Oh, no. They had feeder funds. Stablegain [1] was feeding money into them: You can now earn up to 15% APY interest on your cash with Stablegains. This is 30x higher than in your traditional bank. You can deposit and withdraw using your preferred methods (ACH, wire transfer, USDC) with the help of our partner Circle. There are no long-term lock-up periods. Earn passive income every day We take care of all technical as…
If you’re getting 15% returns you better realize you’re exposed to something !
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Perhaps they knew what they were doing just as startup investors take a calculated risk that their doggy social networking site might not be the next big thing?
"calculated risk" is doing a lot of heavy lifting here. "Wishful thinking" is the more likely culprit
Is there a YC partner that has never invested in a crypto company? I would love to know.
I occasionally get asked by relatives and friends of what to invest in. Now I'm no expert but I guess in the valley of the blind the one-eyed man is king. Thing is what I tell them seems to bore them because, well, it's boring. My advice is basically this: Put your money in a broad index fund and don't look at it for 10 years. In giving this advice you start to realize it's not what people want to hear. It's not that…
> It's not that they want to get rich quick. They just want to make a lot of money really fast. In their defence, I feel like this is fuelled by media FUD as well as FOMO from the ever-widening wealth gap. A combination of inflation and unaffordable housing along with stagnant wages means that even with everyone in the family working jobs, you can’t even afford a yearly vacation. If the wealthy elites don’t realise t…
And I mean leftist in the actual sense, not a feckless liberal in the US Democratic Party sense who still ultimately exist to defend the capital-owning class.
The so-called Great Resignation and worker shortage was really the first increase in real wages many had seen in 40 years. And what's happened since? Massive inflation, particularly of essentials like housing. That's not an accident. The system is designed such that a budget shortfall is built into your existence. A workforce that is living paycheck-to-paycheck and barely hanging on is a compliant workforce. They're definitely showing up to work and not making trouble. That's the point.
Working people of any race, gender, sexual orientation or age have way more in common with each other than they do with the capital-owning class who routinely create wedge issues to avoid any sort of class solidarity.
But people don't want to hear that either.
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I've literally never heard of anyone referring to index funds that way. You're not making any sense at all.
I assume when people say savings they mean investments. Because it would be stupid not to invest a large cash position.
I occasionally get asked by relatives and friends of what to invest in. Now I'm no expert but I guess in the valley of the blind the one-eyed man is king. Thing is what I tell them seems to bore them because, well, it's boring. My advice is basically this: Put your money in a broad index fund and don't look at it for 10 years. In giving this advice you start to realize it's not what people want to hear. It's not that…
> It's not that they want to get rich quick. They just want to make a lot of money really fast. In their defence, I feel like this is fuelled by media FUD as well as FOMO from the ever-widening wealth gap. A combination of inflation and unaffordable housing along with stagnant wages means that even with everyone in the family working jobs, you can’t even afford a yearly vacation. If the wealthy elites don’t realise t…
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That assumes you are able to hold a short position for the indefinitely long irrational period in which the bubble can grow unpredictably large and your gains increasingly negative. It’s therefore also irrational to take a short position. The sensible thing to do was to stay away - and I think it’s perfectly fine for people who did so to smugly say ‘I told you so,’ presuming they did indeed do that.
Surely if you believe crypto is coming to an end in the next few years there is some way to profit.
Put up a large short position, and soon enough there will be a pump and dump to liquidate it. And if you do make money, have you noticed that these exchanges often go down for “maintenance” when big price movements are happening? There’s no guarantee you’ll be able to close out a position when you need to.
The only way to win is not to play.
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> It's not that they want to get rich quick. They just want to make a lot of money really fast. In their defence, I feel like this is fuelled by media FUD as well as FOMO from the ever-widening wealth gap. A combination of inflation and unaffordable housing along with stagnant wages means that even with everyone in the family working jobs, you can’t even afford a yearly vacation. If the wealthy elites don’t realise t…
Exactly, people aren’t always stupid, they’re desperate. Investing in index funds at ~6% average return (or thereabouts) does nothing meaningful for people who are priced out by the 10-15% y/y gains on housing, or are living paycheck to paycheck due to inflation. Its not so hard to see why people feel their only option is riskier bets.
Housing never had gains that high. Looking at the rise from the last trough (ie. 2009 to today) works out to 5.3% annualized nationwide[1]. Meanwhile the Vanguard Total Stock Market Index Fund returned 12.4% in the same time period. If you look around at a few different metros, there are many cities that return higher (eg. 7.5% for LA[2]), but none are anywhere close to returns for the index fund. The best I found was arizona[3] with 9.1%.
[1] https://fred.stlouisfed.org/series/CSUSHPINSA
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Just short $MSTR. Easy.
Maybe most people already have a job which they spend time and get money in return, so why would they spend even more of their free time in pursuit of a little bit more money? Life is more than money anyways