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
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).
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:
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.
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
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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
dried water is where it's at
I'm walking distance to a large river so I'll burn that bridge when I get to it :cool-bean:
Running a mining rig, but instead of Bitcoin it's an electrolysis unit, and I'm hoarding pressurized hydrogen for re-oxidation later.
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
I want to assume the "attic" is the lower deck of an overturned T34
I'm also choosing to live in the reality where it is
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.
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