every time the market crashes we (by which i mean very online marxists) tend to gloat about how porky lost all his cash, but really it's mostly these guys. Libertarian dorks who took out loans. Porky sells, sends waves of panic through the market, causes all the meek little retail investors with 100 or 200 dollars to jump ship, waits for the price to crash, buys it back up for cheaper than ever, and rides the "recovery" wave knowing there'll be a new crisis to capitalize on later. Porky is the house, and the house never loses.
every time the market crashes we (by which i mean very online marxists) tend to gloat about how porky lost all his cash, but really it's mostly these guys. Libertarian dorks who took out loans. Porky sells, sends waves of panic through the market, causes all the meek little retail investors with 100 or 200 dollars to jump ship, waits for the price to crash, buys it back up for cheaper than ever, and rides the "recovery" wave knowing there'll be a new crisis to capitalize on later. Porky is the house, and the house never loses.
Crypto Market crash as a whole, yes.
But Luna, specifically, is not recovering. And a lot of rich people just lost a lot of money they aren't getting back.
I've always said the stock market is like gambling