131–140 of 640 posts
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That same logic says the rapist is betting on stupid women.
No, how? WSB users are doing that to themselves. You can't possibly compare them to a raped person.
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No, the resources diverted to people with "unviable financial beliefs" were done so in a proper market-efficient way, and would have been spent in perfectly ordinary ways no different from the average person of modest means, if it weren't for the scams. Diverting people's resources to unproductive, antisocial scammers based on arbitrary educational criteria is the only "ruinous" thing in this picture. They are the ec…
> and would have been spent in perfectly ordinary ways no different from the average person of modest means, if it weren't for the scams. That is a pretty big leap. There are plenty of ways, plenty of “unviable financial beliefs”, that can lead one to unwisely fritter away their resources without being exploited by a scammer. You are basically asserting that most people who get scammed are otherwise Rational Agents w…
> Even if the scammer buys a bunch of gold chains and sports cars that they don’t really use, those resources are “participating” in the economy in a way that the wasted investments that don’t involve a scammer are not.
Are you saying that people in the first case are taking their money and burning it? Because if not I don’t see how you could make that statement without more research - if the flat earthers are printing books, selling videos, hosting conferences, going on “fact finding” missions, etc. then they’re generating economic value as well. Much less of it in absolute terms given the relative population sizes but you can’t just assume everyone is Scrooge McDuck sitting on a huge pile of money.
This title is stupid. Comparisons to crack cocaine should have stopped in the 90's or early 00's at the latest. They're never made by people who have the slightest idea about what idea crack was, and whoever wrote that is extremely out of touch. About crack: The public discourse was racist, the CIA had a lot to do with creating the problem, and in general it's no worse than the cocaine my fellow white people seem to…
It is common to smoked drugs in general. For what I know, smoking is the fastest route of administration. That instant gratification makes it more addictive than slower routes of administration, like snorting in this case.
It doesn't mean the laws weren't racist, but crack cocaine is more addictive.
I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…
Whats the difference between "idiots have to be scammed" vs "people who can't fend off a knife fighter while en route to the grocery store have to be stabbed"? Some people are gullible, or trusting. This doesn't mean they don't have other gifts, or most of all good intentions. Applying an evolutionary pressure against people who can't fend off knife attackers is ultimately useless for human wellbeing The real issue i…
Consent.
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Whats the difference between "idiots have to be scammed" vs "people who can't fend off a knife fighter while en route to the grocery store have to be stabbed"? Some people are gullible, or trusting. This doesn't mean they don't have other gifts, or most of all good intentions. Applying an evolutionary pressure against people who can't fend off knife attackers is ultimately useless for human wellbeing The real issue i…
>Whats the difference between "idiots have to be scammed" vs "people who can't fend off a knife fighter while en route to the grocery store have to be stabbed"? Consent.
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Right but if you are wrong you are only out 3k. Many people with more money think they have a good strategy and lose a lot before they realize it wasn't bad luck and risk management but a bad idea.
Well it's true, you do need an idea. But good ideas aren't hard to come by when you understand basic risk management. Take for example recent events. Say your idea is if this election goes one way, it's neutral/slightly bearish for TSLA, if it goes the other way it's wildly bullish for TSLA. Since one possibility isn't going to result in much movement you ignore it. For the other one you structure some options trades…
If everyone has the exact same expectations as you, no one is going to offer you the options trade structure at a price that would be profitable for you.
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You have to see real compulsive gambling in action. The comparison is not so far off (but still over the top).
I know what kind of havok a gambling addiction can cause, and it's no joke. It's powerful enough (for some people, at least) that a comparison to addictive drugs generally is apt, yet the traps are everywhere and usually legal. Exploiting the psychological weakness that underpins gambling addiction is something sought after and optimized for outside of overt gambling, like modern video game mechanics, social media, c…
The regular 9-to-5 is seen as a last resort now—it’s almost like you’ve failed if you don’t have a side hustle. That’s the vibe. With AI and machine learning platforms making waves, especially for traders, the game has completely changed. The barrier to entry? Practically gone. These platforms have made it so easy to get started that anyone with a bit of curiosity can jump in. It’s not the exclusive playground of the…
At one point I knew I could beat the market with l33t software skills. I was wrong and only realized it after donating about 3k to Wall Street.
I too don’t understand why technical analysis isn’t classified as a genre of fiction…
But he was paying thousands of dollars per year for a monthly newsletter that contained . And he patiently showed me how he started with a row in the table that met then followed to the column that met and that was the choice he made in the market.
And I'm thinking, whatever information he's getting in that newsletter is at least a month old by the time he gets it. And he's not doing anything a program couldn't do, with the information in digital form. And he should know that -- he was a computer programmer earlier in life. As far as I could see, there was zero chance he was beating anyone or anything with that technique, and starting in a several thousand dollar hole.
Maybe I was wrong, but I don't think so.
If you worked in a tech office in the late 90’s, every other guy had Ameritrade or similar up in a window. It was the gaming/porn you could get away with at work.
Dot com roasted them all.