This is what makes crypto "relevant": a vast amount of fools eager to get fucked by the obvious ponzi scheme.
I am once again very glad that my partner and I are both too autistic and too communist to try understanding how stonks are supposed to work beyond "Monopoly money for rich people." We both get stuck at "well that doesn't make any fucking sense, value comes from labor" and keep our savings in a pickle jar in the attic
Thanks, yeah the pickle jar thing was mostly hyperbole I do keep just about everything I've got in the bank thanks to direct deposit and credit card stuff lol. I've got some of my retirement money in... I think it's index funds? But like most millennials my retirement savings are primarily in dried beans and whiskey and my retirement plan is dying in the water wars
Buying dried beans and rice is a psyop so you die when you don't have water to cook them during the water wars
Running a mining rig, but instead of Bitcoin it's an electrolysis unit, and I'm hoarding pressurized hydrogen for re-oxidation later.
I'm walking distance to a large river so I'll burn that bridge when I get to it :cool-bean:
In order to steal your surplus labor value and give it to the owners, they need to know who the owners are. This has been financialized in the form of stocks. Whoever owns the stocks owns the company, in proportion to how many they own. Stocks have value because they represent extracted labor value (and the state will back up that extraction on behalf of the shareholders with violence).
Cryptocurrencies don't have any underlying value.
I kinda sorta know how stonks work, I went through a phase where I tried to learn about it and would 'invest' using fake money just for fun.
As soon as I wasn't broke, I never came close to giving a shit about it. My conscience is clear and despite now having the means to do it, I will never succumb to these capitalist endeavors. At every step of my life, instead of being cajoled by capital I'm proud to say I've always said, :bugs-no:
Just say :bugs-no: folks
You actually save "money"? smh, that's monopoly money too, you need to stash your attic with non-perishable goods and services
It's true, and what's worse is that pickle jars are bourgeois decadence
Stocks are just shares of a business - theoretically you have a claim on the assets/profits of an actual business that exploits people's labor lower. Crypto is literally magic, "digital gold", without the industrial use of real gold.
Well stocks actually represents shares of companies with assets, employees, revenues, and they well actually do things.
Crypto is supposed to be a "currency", but no one actually uses it as a currency - for the most part they use it for speculation. The most ironic thing is that people denominate crypto in relation to the US dollar (or euro), kind of showing that the whole point is that it goes up in value and then you trade it for an actually useful currency.
It also makes no sense for a currency to be deflationary. That just encourages people to hoard it, rather than spend it. Why would I spend a bitcoin today when it will presumably be worth 10x more in a few years? Suffice to say that isn't really "good" for a currency and economic activity.
I've discovered that it's basically a fancy way to organize who gets exploited and who gets to do the exploiting. On the side, if you're relatively poor, is the gambling show.
It's not gambling if you invest in index funds, that's the best and safest way to invest your money.
As bad as capitalism is we're stuck in this system so it's best to try to succeed in it, otherwise inflation just eats away at all your savings. And you are more at the mercy of society.
Imagine telling your partner "I gambled away all our savings in a reddit casino"
i imagine this to go very well. he should just tell her that elon musk recommended this and that she has a NGMI mindset, unlike him, a true sigma male lone wolf hustler.
well yes, but the upside is that his wife can now take way less money from him when they divorce!
Weird I haven't heard of any divorce ruling about splitting cryptocurrencies
new scam: lead someone on until theyre comfortable with shared bank account, dump it all into crypto and fake financial illiteracy in divorce court, repeat.
itll be like those british feds that had kids with activists they were spying on, but for libertarians!
Yes, yes, but who is gonna buy that monopoly money? Not the ones who sold them it, they have large stashes full of it cuz it's useless, unless you find a big idiot eager to gamble their future buying it.
"You see, if you buy 15 months worth of every Herbalife product, you actually haven't lost any money"
This is where he turns into one of the proselytizers that wears a doge SnapBack and doge shirt everywhere and winds every conversation back to “yea dude uou should buy in bro. Now is the time!”
Damn we need it,
have you seen the story about the tortured ex-prisoner who now is a consultant intortureinterrogation techniques?
What mystifies me is that it was clearly a pump-and-dump based on :melon-musk: 's appearance on SNL like a year ago.
Gotta leave your wife. She's too weak to be an ape. You must hodl until it moons. You are now a monk, a silent warrior. You work to buy the dip. The lower it goes, the more you buy. The more you buy, the more you hold. If you're disciplined and Saint Elon smiles upon you, then you will be rewarded with the MOASS. But to get MOASS, you must first achieve NOASS by divorcing your wife.
I worry how often I see memes about redditcoin scams and shit like this keeps happening
knew someone in highschool who threw 20k into some obscure shitcoin at 40 cents/coin average, last i checked the coin is now worth less than a cent and he never sold, this wasnt a wealthy rich kid either, this was years worth of savings from an afterschool job pissed down the drain.
It wasn't pissed down the drain, it made really happy a smarter crypto dipshit
Given he's a crypto dipshit, he probably surfs the site to see dancing underage girls.
