I recall a thread recently about bitcoin, hope noone got scammed it does this cycle often. and the working class are not whothis is intended to benefit.
You can do that with any volatile asset (e.g. penny shares or some weird option or whatever). But the whole reason why these assets are volatile is because they might not come back. Any number of things could happen that would cause the price of bitcoin to plunge irreversibly - a bunch of countries could get together and start imposing restrictions on it, or someone could discover a massive security vulnerability, or the community might decide en masse that some altcoin is better and switch to that, or the techno-libertarian weirdos might just get bored of cryptocurrency and develop a new obsession (my money is on 3D printed Magic: The Gathering funkopops).
Also, if you want to have a bit more fun with it. You can just use openinsider.com and copy what the literal bourgeoisie are doing.
Studies have shown that an index fund, baring chance, always outperforms a managed fund. The bourgeoisie have no idea what they are doing either. They just get bailed out by having all the capital anyway.
It's always like this, bitcoin is extremely volatile and someone is making bank out of this
one of the more dystopian thing I saw was an ATM-like machine in a gas station that was selling crypto. it was right next to those sketchy slot machines in the back of places
The nervous superhero meme but the left button says "buy one pizza today" and the second button says "buy 12 drugs tomorrow"
It's only 7% off from last week. This isn't a crash lol
crypto is so fucking stupid. It's the definitive proof that the economics has become uncoupled from reality. And the thousands of cryptos. JFC they all do the same goddam thing
Lol, it's true. Their value is based on exactly the following formula:
"x=???????????????????"
these goddamn cryptohounds I swear. "oh, we're gonna replace money, cool huh? I bought 40 000 graphics cards to solve sudokus this is the future"
just blindly trusting that because some very large brains once said that cryptocurrencies are "secure" that they will never be hacked. these fools. these gobshite cyber-neanderthals.
it WILL be hacked. it's a digital protocol and one day some fucking hero will run a python script and steal all bitcoins and because their perfectly secure system has no administration that'll be it
I would love if bitcoin news stopped coming to my safe space because I sold at a low thinking bitcoin was done and just wanted to be done with it. Had i just been money smart i'd have like a lot of bucks right now that I could spend on mutual aid and finding non-alienating labor.
Thankfully I'm the kind of smart that doesn't make me money and so I cringe whenever I think about bitcoin. Thankfully I didn't lose money though, that'd be embarrassing.
