Public Makes Millions on Plunging Crypto
1–10 of 25 posts
Re: Public Makes Millions on Plunging Crypto
#2Thesis is "crypto millionaires squeeze out other consumers from high demand goods, loss of crypto value reduces demand for those and thus benefits other consumers"
Re: Public Makes Millions on Plunging Crypto
#3The latent argument is that crypto leads to inequality, and the low performance of crypto leads to more equality.
Equality in itself is good for the public.
However, i don't think this is a reasonable perspective. Naturally, it should also extend to stocks and real estate.
Re: Public Makes Millions on Plunging Crypto
#4[deleted]
Re: Public Makes Millions on Plunging Crypto
#5The entire crypto market cap is about $2.8T, which makes it about 75% as big as Apple. Would the same argument make sense if the author were to say Apple employees alone "push up prices for houses, resort hotels, and all sorts of other things they do with their money". Kind of a stretch if you ask me.
Re: Public Makes Millions on Plunging Crypto
#6The latent argument is that crypto leads to inequality, and the low performance of crypto leads to more equality. Equality in itself is good for the public. However, i don't think this is a reasonable perspective. Naturally, it should also extend to stocks and real estate.
The difference being that stocks and real estate have at least a tenuous connection to actual production. Crypto has none.
Re: Public Makes Millions on Plunging Crypto
#7What a weird biased tone throughout this whole article
Re: Public Makes Millions on Plunging Crypto
#8The entire crypto market cap is about $2.8T, which makes it about 75% as big as Apple. Would the same argument make sense if the author were to say Apple employees alone "push up prices for houses, resort hotels, and all sorts of other things they do with their money". Kind of a stretch if you ask me.
But apple makes (at least in theory) a useful product that consumers value. As is pointed out in the article.
Re: Public Makes Millions on Plunging Crypto
#9The entire crypto market cap is about $2.8T, which makes it about 75% as big as Apple. Would the same argument make sense if the author were to say Apple employees alone "push up prices for houses, resort hotels, and all sorts of other things they do with their money". Kind of a stretch if you ask me.
To follow the narrative: The do actual work, arguably even useful.
Re: Public Makes Millions on Plunging Crypto
#10Crypto is a zero sum game. "The Public" can't be making millions on aggregate.
Probably something like 90+% lose over longer term. And you make nothing until you sell.