51–60 of 295 posts
I always have mixed feelings when someone is warned about the riskiness / foolishness / stupidity of a course of action, and then suffers for it. On the one hand, there's a certain satisfaction or Schadenfreude in the sense of vindication. And it's pleasant to feel like my own wisdom or self-control has been validated. OTOH, I know that everyone has limited wisdom / self-control / intelligence, including me. So it se…
I really don’t understand the business model of making massive fiat loans to “firms” to buy bitcoin. If crypto goes up, you get a small amount of interest. If crypto goes down, you lose everything. What? Lol. Just spend a fraction of the sum on bitcoin and do something safe with the rest. What was the plan? Edit: I guess when someone has “20 billion dollars” a 700mm loan doesn’t seem like a big risk.
> As of Friday, Voyager said it had approximately $137 million in U.S. dollars and owned crypto assets. > Last week, Alameda (FTX founder Sam Bankman-Fried’s quantitative trading firm) committed $500 million in financing to Voyager Digital, a crypto brokerage. Voyager has already pulled $75 million from that line of credit. Am I misunderstanding something, or: what kind of mismanagement could possibly lead to loans b…
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A fool and their money are soon parted. The real problem is that swindlers have made a huge amount of money and can use that money to corrupt politicians so it affects the rest of us. It’s not just the extra tax of having to care for the newly impoverished. My former local community went all in on a bitcoin scam, they made commissions on new entrants so I never heard the end of it. I only talked about it when asked b…
Could you expand a bit? It sort of sounds like you're describing a small town or a social circle / social scene where everyone got involved in some particular altcoin or something and invested a ton of their personal savings into it while encouraging others to do so as well, is that essentially it? Crazy if so.
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Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
Because you’d have to be a real dumbass to actually put your life savings in crypto. When I first bought crypto, I put in just enough that if I were to lose it all, it would mean one vacation less and a fewer more meals at home for a few months. The returns are absurd enough that a $10k investment can be life changing. Anything beyond that is just greed and stupidity.
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People with crypto coins needs other people to be willing to buy them at higher price just slightly later. They keep exploiting fomo for their own gain. I don't think this is moral and a bit of karma is always welcomed.
Same with most company shares
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Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
Because you’d have to be a real dumbass to actually put your life savings in crypto. When I first bought crypto, I put in just enough that if I were to lose it all, it would mean one vacation less and a fewer more meals at home for a few months. The returns are absurd enough that a $10k investment can be life changing. Anything beyond that is just greed and stupidity.
I guess I’m a real dumbass. :-)
I really don’t understand the business model of making massive fiat loans to “firms” to buy bitcoin. If crypto goes up, you get a small amount of interest. If crypto goes down, you lose everything. What? Lol. Just spend a fraction of the sum on bitcoin and do something safe with the rest. What was the plan? Edit: I guess when someone has “20 billion dollars” a 700mm loan doesn’t seem like a big risk.
Earlier quoted context omitted.
Same with most company shares
And I would feel the same if a massive amount of people were pushing for it, were deceptive and exploitative about it.