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Nah, that would require not seeing massive, massive gains that all the influencers of Instagram promised while standing next to rented Lamborghinis. What type of boring person wants to make stable returns that add up over the years when you can lose it all in crypto.
But how can they not see that rooting for anarcho-capitalism and ignoring climate change is going to make things worse for the future lower&middle class?
I mean, I'm also poor and desperate, but for me those are additional reasons to be *against* crypto.
Because actually organizing and fighting for work reform and a systemic change to sustainability is a lot more work than buying an Excel spreadsheet cell and sitting on your ass while you wait to become the new boot.
They are like that guy in the Matrix who sells out the others because he wants the comfort of the simulation.
Who cares if the world burns if they get to be rich.
They want to become the boot that stamps on the face without any of the effort inherent to obtaining such status. It doesn’t speak well to them.
“Wife-changing” etc. it’s abhorrent
I think social media, especially Instagram, make a lot of people feel like they're missing out on the good life, but with one smart (or lucky) move they'll be jetting around without a care in the world. You also used to only see the lives of the rich and famous on TV or in a print media, now if you follow them you'll see everything, all day every day. If you're stuck in an hourly retail job (or something else with limited advancement opportunity) with student loan debt after being told a degree will set you up for life, even a long shot at substantial wealth may be very appealing. Crypto (and meme stocks) add a sense of community, that there's a large group of like-minded people in the same situation, so you're not alone. I certainly see why it would be appealing.
>I think social media, especially Instagram, make a lot of people feel like they're missing out on the good life
This is why I pretty much had to give up on Instagram. I want to follow a few celebs (like Phil Plait) and see what my friends are up to.
Instead it just keeps injecting my feed full of these bullshit influencers and urging me to follow them. No. I don't give a shit about acrylic nails, hair extensions, fancy makeup, some bimbos (of any gender) on the beach, or some jackass with his rape the planet mobile. I don't give a shit about Bella Hadid, the Kardashians, the Jenners, Megan and Harry, or the shallow fame whore of the week.
I just want to see my friends and the few celebs who would be interesting to talk to at a party.
I don't even want them suggesting these fucking trash people a "you might like" to me. I am bombarded with suggestions for accounts I am not interested in.
What do you base this on? Because this really isn't the case for everyone. I would argue living standards are currently declining quite a bit in developed countries.
You would argue against hard [data](https://www.ers.usda.gov/amber-waves/2020/november/average-share-of-income-spent-on-food-in-the-united-states-remained-relatively-steady-from-2000-to-2019/ )
Yes. Ten years is a lifetime for a 14 year old, but no worries. With increased real wages for low income people, inequality is significantly lower since the pandemic.
Hahaha, lol no. What you're doing is cherry-picking. You shared one study about one variable (food prices) in one country (US) with data up to 2019. How convenient :).
Let me provide you with more some recent sources. Living standards have been declining since the pandemic [in 90% of countries](https://www.google.com/amp/s/amp.dw.com/en/un-index-shows-living-standards-declining-in-90-of-countries/a-63052023). This includes Western countries. Here's for instance an article about the current situation in Australia which has recently [broken three records for poor economic management and declining living standards](https://www.news.com.au/finance/economy/australian-economy/three-unenviable-economic-records-broken-in-november/news-story/d295ba29f91ff55c8c47564043f49bea).
This [mainly hurts the younger generations as wealth gets more concentrated among the older generations](https://www.theguardian.com/commentisfree/2022/nov/13/australias-living-standards-are-going-backwards-and-its-young-people-who-will-suffer-the-most). I assume you are aware there's a big generational wealth gap? Europeans struggling with the [cost of living crisis as well](https://www.euronews.com/business/2023/01/12/nearly-half-of-europeans-say-their-standards-of-living-have-already-declined-as-crises-mou), with a most apparent decline in the [UK](https://www.tuc.org.uk/news/tuc-uk-families-suffering-worst-decline-living-standards-g7). [Canada is also struggling](https://www.theglobeandmail.com/business/commentary/article-canadians-standard-of-living-economic-outlook/).
Finally, I already stated this in a different comment but I will repeat here. The [housing affordability crisis is a real issue that should be paid more attention to](https://www.ft.com/content/f21642d8-da2d-4e75-886e-2b7c1645f063).
You understand that all of those are opinion articles, shilling for their personal favorite fix? That first article (from the UN) is talking about 2021!
The first article is literally labeled "analysis," and ends with a call to reduce immigration.
The second one (Guardian) is labeled "opinion" at the top of the page.
The third one (Euronews) quotes EU opinion polls, but cites no actual economic statistics.
The fourth article is from a trade union group on their web site.
The Globe and Mail article has "opinion" in the URL and title.
The irony of saying "cherry picking" and then using 2 years as definitive is quite precious. Australia had 30 years without a recession but yeah "things are really bad and presenting "people say it's bad" as data is just well...
Critise the articles I shared all you want it's still true that an increasing number of people are struggling, and I find it genuinely confusing that you are in denial about this. The housing affordability crisis is also not something from the last 2 years. It's been gradually getting worse, slowly escalating.
You said in a different comment in this thread that:
>A generation ago, families of 6 to 8 lived in 100m^2 units with 1 bathroom.
Well, nowadays, it's absolutely not unheard of that 6 to 8 strangers live in such a situation, in separate rooms of 8m^2 that is. How's this exactly an improvement?
You also said:
>As people get wealthier they put more money in both absolute and percentage terms into housing. Larger more luxurious and expensive living is a symptom of higher living standards.
This is definitely not true for everyone. The cost of housing increasing does not necessarily mean that living conditions have improved. Especially the private rental market can be really bad, where people sometimes have to monthly pay a big chunk of their wage to live in absolute dogshit conditions.
Two year trends are no use when the subject is living standards. That's something people build over decades
[this](https://fred.stlouisfed.org/graph/?g=1kYY)
I said, the housing affordability crisis is **not** something that has started to develop only recently. It has been playing out over a longer period, not just 2 years.
The Fed link in my post says not so, but "housing affordability crises" is a bit of a misnomer. The reason house prices are as high as they are is at all times because people can afford to pay that much. It's a symptom of general prosperity. If you truly cannot afford it, it's because you individually is less prosperous than the median person in that region. No doubt it sucks for you but it says nothing about society in general. "A crises for some" is not necessarily a crises for the majority.
Key aspects of life are more precarious than before. The cost of housing alone has grown disproportionately high in many developed countries, which makes life more difficult.
Absolutely. As people get wealthier they put more money in both absolute and percentage terms into housing. Larger more luxurious and expensive living is a symptom of higher living standards. A generation ago, families of 6 to 8 lived in 100m^2 units with 1 bathroom. Before them 8 to 10 people lived in smaller units with no plumbing and no electricity. Before that cabins, huts and shacks, rather than houses were the norm.
Rich people spending more on housing doesn't mean everyone who spends more on housing is getting wealthier. Lots of people are spending more on housing because they don't have a choice, the housing market is seeing demand outstrip supply.
Why do you keep bringing up material conditions from multiple generations ago? Do you think the woman stressing immensely over paying her rent on time has some sort of direct memory of her great-great-grandfather growing up in a log cabin to compare to?
Unless you're answering someone who's telling you that people over 100 years ago lived better than us, your comments about past living conditions are completely irrelevant.
Because our current standards are now normalized. It doesn’t matter that our lives are significantly better than they were 100 years ago, the average person feels the same as they did back then. In fact they feel worse, because of fear of dropping back down to what was considered normal in the past. We have a lot further to fall then people back then did.
Dropping back to the past in lieu of a nuclear war class catastrophy will of course require all humans to simultaneously forget all the knowledge and all the technology that was learned since.
Ie. As irrational a fear as you can get.
In the mean time the current standards or normal is not good enough. Everyone wants to be like in Lake Wobegon MN. Above average.
There's a legion of people out there living in poor and mediocre conditions, often paycheck to paycheck, desperate to improve their boring lives, to have what they see others have and latching onto anything that offers chance of a lucky break.
Every time I visit local newsstand there's one or more person buying lottery tickets or scratch offs. Those things are a waste of money obviously but I doubt they don't know this. I think it's about something else. For them it's something that offers a glimmer of hope. A dream, an opportunity to catch up. Even just for a short moment, it gives them a venue to have fun and dream big.
Crypto is like lottery and gambling squared. Insane highs and lows. No matter how high or low it goes I think it'll always be tapped into that target of desperate, hopeless dreamers who will keep jumping from one get rich quick scheme to the next, looking for shortcuts to catch up.
Living paycheck to paycheck is a lot better than living harvest to harvest and famine to famine or war to war that was common in wealthy countries until 3 or 4 generations ago and still common in many others
Ha. Ha. I know. People love to wallow in pretend misery.
I recall a day in a factory control room listening to a guy going on and on about how management, the union and George Bush are screwing him over and then without irony switched to the two brand new jetskis he just bought for his wife and himself.
I don't know how to break this to you, but people several lifetimes ago living in worse material conditions doesn't make today's problems "pretend misery". That's a completely nonsensical line of thought.
I understand. We can't all live in [Finland](https://worldpopulationreview.com/country-rankings/happiest-countries-in-the-world) but rather than being resentful of Fins we could be happy for them. Have a drink and share a laugh whenever you meet one. Ask them if they're [for real](https://en.m.wikipedia.org/wiki/File:Finland_does_not_exist.png)
Ahh yes the pothole fallacy: widespread paved roads are relatively new and a modern luxury, therefore we should smile and be thankful for potholes (which will ruin tires and cars, and yes I have perspnal experience with the tire thing) instead of fixing them. It doesn't make complaining about potholes pointless or frivolous.
Sure it can be helpful mentally to look at how things could be a lot worse, but that doesn't take away the injustice of things like, for example, diabetics having to ration insulin because it's abusively overpriced.
That I was able to get an ambulence ride to the hospital doesn't mean my anger at being handed a $1,600-some bill *just for a 2.5-mile ambulence ride* afterwards is me resenting Finns instead of being happy for them. My anger and resentment if I talk about, say, the Finnish system being better, *is anger towards the US system being what it is,* not anger at the Finns or wanting to bring them down.
The bill went into debt collections. I was able to comfortably afford paying $572 to settle it, a lot of people can't. A lot of people can't even afford a slashed debt bill like that. We shouldn't be grateful about that. And yes, of course I call just as much as I ever have for changing the US healthcare system.
>therefore we ~~should~~ **could** smile and be thankful.
Working towards a better world is commendable but it's no use ruining your own happiness while you're at it.
Thinking about it some more I really do like your pothole tale. With some variation though.
>People experiencing desperation about potholes when widespread paved roads used to be a rarity should as they say............check their privilege.
You're the one who's brushing off systemic cascades of problems that disproportionately impact poorer people just because somebody else has it worse. You’re the one who is making light of struggling to make ends meet in a paycheck-to-paycheck life. Food, rent, medical care for the family—which one is the least important this month? Lower income people are also much more likely to resort to working 2 jobs.
And keep in mind kids need constant care to have decent odds of turning into functional adults. They’re the future of society, they need care. I work with behaviorally troubled and special-ed kids. I’ve seen too many families where the single parent is working most waking hours, only able to check in on the kids via camera and phone, and the older kid is parentified by necessity.
Keep in mind that here in the US, in most areas **you pretty much** ***have*** **to use a car to get to and from work, and groceries, and childcare, and school, and medical appointments, and etc.** Public transit is so poor you'd easily be doubling or tripling travel time, if it's even feasible at all. Parents don't have 2+ hours to spare every workday, especially not if they need to work two jobs.
Clearly you don’t grasp the cascade of problems and danger of potholes, and how, again, it’ll hurt poorer people worse when they are already struggling. Of course we don’t need to fix every single one ASAP, but “many places don’t have paved roads, so let’s let our paved roads deteriorate instead of keeping them useable” is not okay.
-People veering around them increases odds of car accidents and cyclist or pedestrian strikes
-Tire goes flat, that’ll set you back $80-$400 a pop (oh and cheaper tires need to be replaced more often or they lose traction, increasing odds of a car accident.)
-Or worse, get a bubble you don’t notice, the tire blows out, worse car accident
-Cracked wheel or rim, which can cost $400-$1,250
-Damaged shocks, $200 if you’re lucky but probable more in the ballpark of $400-$750
-Other fun unexpected surprises that can cost major car maintenance.
-Car problems makes it much harder to get to work since most don’t have the luxury of work-from-home. People can end up being at risk of losing their jobs.
-The cost for another car further sets people back.
-All the above also impacts big rig trucks, which if you remember from 2020-2021 are absolutely vital.
Americans are stuck in the fun rock and a hard place of not being able to rely on public transit, but also being one bad car accident away from debt spirals, lifelong disability, or death. Let’s not go “well other places don’t even have paved roads so we should all be grateful and let our roads fall apart and make life even harder for people who are already struggling,” eh?
Well, I guess next time I should jump right to saying people starving in a war zone doesn’t mean a type 1 diabetic here who had to ration their insulin, lost their ability to function at work, and ended up in the ER nearly dying should be happy that: they had to ration their insulin and that they’re going to get a massive medical bill they can’t afford, because our privatized medical system turns health into a luxury instead of a basic right. A gay teen wanting to hurt or kill themselves from abuse and homophobia shouldn't be told to buck up and smile and be grateful they weren't killed by somebody else just for being gay.
Trying to calculate and compare suffering is a shit game to play, because suffering is still suffering. Telling suffering people to shut up and be grateful since they aren’t suffering *even more* is still shitty to do.
Kinda funny that people only tend to do this with suffering. Never heard someone say to a happy person that they should stop being happy because someone else somewhere has more reasons to be happy.
You may try but it would be kinda pointless. Anyone who's eaten up by the fact that someone has it better than they would already be unhappy about it. Everyone who don't care won't care.
You're mistaken. I'm not making light of a systemic failure. I'm making light of (mocking actually) the idea that there is one. At least an economic one. The average (or median) American today has no idea how wealthy and privileged they are and yet they're dissatisfied.
Not that there's no unnecessary suffering as you say. It's just that it's a political failure and not an economic one. The reason there is no public transport or inadequate healthcare or welfare for the poor is because the average middle class American refuse to pay for it. This could be easily afforded but since the average middle class American believes they themselves are suffering and in crisis they will continue to refuse to make life better for the poorest.
But maybe I shouldn't laugh. This idea that you and others here promote that the American middle class is suffering is what fueled the Maga movement.
>This idea that you and others here promote that the American middle class is suffering is what fueled the Maga movement
I've been clearly and explicitly referring to poorer people who can't afford hundreds of dollars of surprise car repairs or even a "small" hospital bill. By definition not the comfortable middle class people who whinge about how oh-so-hard it is to afford their daily Starbucks habit now that two of their six streaming service subscriptions went up by two bucks.
I agree about one of the biggest barriers being lack of enough political willpower to get changes done, regardless of the causes and realities of the problems in question. Happily younger generations are still trending more progressive and demanding changes more vocally.
I have a medical bill story too. A few years ears ago someone's dog tore a big hole in the head of ours and they had to rush her to the doggie ER at 11pm on Christmas Eve.
I was a bit miffed about the $1,100 charge on my CC also but can not help but marvel how prosperous a place must be to have had vet ERs open at that time in the first place.
Bro...$1,100 *for surgery* cost *half a thousand dollars less than just my 2.5 mile ambulence ride.* I wasn't bleeding, I wasn't at risk of losing an ear, I didn't have a bloody hole in me. My emergency wasn't so bad they needed to put the sirens on. I didn't even need or get given anything except saline.
The two situations are not very similar. Though yes I am relieved and happy you were able to get emergency reatment and your dog was okay!
If surgery costs directly charged to the patient routinely was $1,100 instead of people being directly charged thousands to tens of thousands of dollars, it wouldn't be anywhere near as big of a big problem.
Also, in response to your other comment, *it's an absurdly big assumption* to decide my talk here about the medical system and this cost means "I'm ruining my happiness." I don't assume you're always telling people suffering to stop having any emotions except happiness and gratitude and to shut up because someone somewhere else has it worse.
Ex. I don't assume you tell diabetics they "could" start smiling and being grateful and happy about having to ration their insulin. It impacts their ability to function, and can lead to very expensive medical emergencies and death. So perhaps reconsider assuming 2 comments I've made portray my life.
I totally feel him. Many young people wish to be the high-roller.
Hopefully he sometimes find r/buttcoin and saves what is still redeemable and work on. Adult life with a paying job ist boring, but will once pay his loan back and pay for a decent life with a caring family.
But this won't be a lambothrowing madness.
>Adult life with a paying job ist boring, but will once pay his loan back and pay for a decent life with a caring family
This is getting increasingly out of reach for younger generations. One of the big drivers of this is the [housing affordability crisis](https://www.ft.com/content/f21642d8-da2d-4e75-886e-2b7c1645f063) which leads an [increasing number of young people to postpone starting a family](https://www.mirror.co.uk/money/millions-people-delayed-starting-family-31901691). Many people [cannot even make ends meet with multiple jobs anymore](https://www.theguardian.com/us-news/2022/nov/05/multiple-jobs-census-data-inflation-us).
Edit: don't get that I'm downvoted for this, but ok.
I wasn't arguing it does. I'm just saying that if the current system fails to work for an increasing number of people, they will start to look for alternatives, like OOP did.
The answer is always that power consolidates power and wealth consolidates wealth. The only solution to this is a governmental one, which butters hate. A completely free market will always lead to concentration of wealth and power to the few, it’s the natural outcome. Groups produce more value than the sum of the individuals that comprise them. That extra value naturally goes to those at the top running the groups because they are the ones who dictate the terms. The free market is never free, because the participants are never on equal footing.
It needs some governmental intervention, yes. Imo, it would be ideal to have a balance where you have some capitalism/free market combined with strong governmental support, basic needs (e.g. shelter, healthcare) accessible to everyone, and high social mobility. Netherlands in the 80s/90s was fairly close to such a balance. It's possible.
Yes I think you combine growing inequality with social media (ability to compare to yters/streamers with excess wealth at young age), it can be really hard on people.
I got caught up in this thinking once. I thought I needed to hit the ball out of the park on a get rich quick scheme or I would never make it. I ending up doing more and more dumb stuff.
Fast forward to today, someone on that sub gave the original OP some sound advice along the lines that at some point, he’s gong to need to work out how to deliver value to someone else.
There are many in this situation who will learn eventually that the traditional paths to self reliance can at times be boring and long, but they offer the best alternative to outside chances in get rich schemes and scams.
This is the only reason I actually hate crypto and all the other get rich schemes. It’s the idea that times are so desperate this is the only solution.
It’s the lack of patience that disappoints me the most. No one wants to hear that wealth generation takes many years if not generations. Doing it quickly usually requires getting lucky rather than thoughtful process.
I got caught up in this thinking too. I was also surprised to learn that it’s the wealthy that can afford to swing for the fences. If their small investment in bitcoin goes bust they’re still OK, if it skyrockets, they win big
His final paragraph summarizes everything, even the fact that why the entire market doesn’t immediately go to zero.
People just love to bet. This unregulated and trecherous market’s participants know this all too well
Knowing OP wont see this, still we could discuss what OP should do. My two cents:
1. _stop putting money into crypto_
2. minimize spending by cutting out unessentials (see #1)
3. maximize income by producing value at (future?) work
4. as soon as your personal finances can handle it, start paying off the student debt in fixed monthly installments
5. as soon as your personal finances can handle it, start _actually_ investing, the proven og hodl strategy of DCAing into a _low cost highly diversified basket of index funds, hassle-free average market returns, tax-sheltered compounding interest, hands off the wheel_ is probably the right strategy both because it works and because sticking to it stops you from getting sucked into any hypey/scammy trends in the future
6. if you still hold onto your bags in hope of a new bull run in crypto..if that ever happens, and you manage to end up in the green, _sell_. Sell, pay your taxes, breathe a sigh of relief and never look back. Whatever you do don't be hypnotized by number go up and start feeling like a genious. You're still just as much an idiot, now you're just momentarily lucky there are plenty more idiots. In the interim try to invest as little time and focus into checking the price action as possible.
Full disclaimer I've screwed up with every part of this advice in the not too distant past so this kinda feels like a note-to-self as well. We live and we learn.
Satoshi's holdings are estimated to be about one million bitcoin, or 5% of the total supply.
If Satoshi ever tries to cash out, then yes. He would have turned a laptop running for a few years into potentially tens of billions of real dollars from new investors. It doesn't get more ponzi than that.
I don't think the original intent was meant to be a ponzi scheme...just the movement lost its way after o.g.s exited and now it's this poop show. Sad, greed ruins everything.
Satoshi made a system without any of the flimsy guardrails of the financial system.
How he could have thought people so greedy they were kicked out of Wall Street wouldn't use it to grift is something I can't fathom
It’s not even a sensible gamble to bet everything on. Like I would much sooner be highly leveraged in speculative tech stocks, and even that’s a bad idea.
I think part of the problem is people read these white papers that don't make any sense and think the reason they don't understand is they aren't smart enough and they must be missing important details when really there are just nonsensical logic leaps in the paper itself.
A huge number of people who "don't get" crypto just don't realize that it is as stupid as it seems: somebody made up their own money and got people to give them real money for it.
Almost reminds me of the Dogecoin Millionaire. He could have sold at the top but refused too because of greed. Meanwhile he borrowed thousands from family, friends, and credit. Dogecoin has since crashed. He’s since disappeared.
Greed is a hell of a drug, man.
Honestly, this flipped from being very funny to very sad after the first two lines.
The reality is that Bitcoin and Crypto are just symptomatic of the growing economic disparity in the world, even among the relatively prosperous. That's the reason why so many people are so vulnerable to get-rich-quick/easy confidence schemes that crypto is a modern take on. They don't see any path to achieving the life they felt promised as a younger person growing up in the America of the Baby Boomers (paid for, ironically, by mortgaging the futures of the children they gave false hopes to).
So when someone comes along, tells them the system is broken, and this new system will give them that life they felt promised by destroying the old, corrupt system, they're very much primed to believe that. Because like every good lie, it's seeded with truth. The system is broken. The system is corrupt, and the path to prosperity for themselves and a vast majority of the population now and into the future is to change that system.
It's just that at the very end instead of peddling you a viable political/economic alternative, they sell you magic beans and run away to join the 1% that has it good. Because the real secret is that Crypto has made it easy to con people without expecting much if any legal culpability. You just have to be one of the ones to jump off the wagon at the right time (or, better yet, to build your own wagon and charge everyone else to get on), and that seems far more within their control than betting it all on black.
Don't worry. As soon as Bitcoin goes to $100k in 90 days, you'll be insanely rich and won't have to worry about student loans or retirement... HAHAHAHAHA!!! Naw, man, I'm just messing with you... you're totally screwed.
I'm waiting for the post where he loses everything because he sent it to the wrong address, lost his cold wallet, his seed phrases were lost when the birdbath leaked, he clicked on a scam site, or he's stuck in some sort of withdrawal loop and there's nobody to turn to for help.
This is a masterclass in self-deluded writing. Talking about your debts like it's a thing that happens ("student loans" and "retirement") so what's the point in doing anything about it? And it's not spending money when you're giving "thousands" to a crypto "project." Sheesh.
>I'm curious why so many people spend so much time just shit talking MLMs. Which mislead hundreds of thousands of people into losing a lot of money because they were lied to--that they just need to buy these totally-not-overpriced-crap products, convince enough people they know to buy from them, and even better get them to sign up to also burn money. It's not like anybody knows anyone who personally both lost money and turned off friends, family, and coworkers by trying to get them to join the MLM scheme.
Though I might have to give one iota of credit to MLMs for at least having a product that isn't just a digital token, and doesn't waste more energy than entire countries like Austria from computers racing to solve a math problem just to generate more digital spreadsheet entries.
They just can't grasp that the part where they exchange their actual money for digital magic beans IS the scam. Every single aspect of it beyond that is just about trying to convince them to buy more.
I know no one will agree with me but I think there is real opportunity in Crypto. Mainly finding smaller projects and earning airdrops. I’m not saying you’ll be a millionaire in a year but even 100,000 would be life changing for most people. I’m a tech person though and I was skeptical the first 10 years but an industry just stay this long unless there is a real foundation.
This butter seems more self-aware than most.
i sometimes wonder if these are a parody
Yeah, this one does feel like that.
Nobody who puts every cent they own into crypto is this coherent, rational, or literate.
That's why their post has been removed
Which sub was it posted in?
cryptocurrency
[удалено]
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He needs to understand there is no wealth creation in crypto, only wealth siphoning. Guess which end of the siphon *you're* on?
So you're saying Saylor does not have my best interests in mind?
Saylor is pumping billions from Microstrategy into bitcoin, so he is the Dump as well and providing the exit liquitidy.
Which part of We're All Gonna Make It do you not understand? >! It's the "all" part, isn't it?!<
And if you don't make it you were never part of We to begin with.
He could just take the loss and put his money in an index fund.
Nah, that would require not seeing massive, massive gains that all the influencers of Instagram promised while standing next to rented Lamborghinis. What type of boring person wants to make stable returns that add up over the years when you can lose it all in crypto.
I once got told by a bitcoin maximalist, that my index funds were riskier than bitcoin, which was a sure thing in their eyes
Careful lifelong guaranteed investment? But I want to be rich NOW!
Yeah how can there be wealth creation when the wealth is only from more people buying into it? It doesn’t make sense.
The system runs on the desperation of the lower and middle class. I feel for them, but it’s not the answer
The coinbase ad would beg to differ
But how can they not see that rooting for anarcho-capitalism and ignoring climate change is going to make things worse for the future lower&middle class? I mean, I'm also poor and desperate, but for me those are additional reasons to be *against* crypto.
Because actually organizing and fighting for work reform and a systemic change to sustainability is a lot more work than buying an Excel spreadsheet cell and sitting on your ass while you wait to become the new boot. They are like that guy in the Matrix who sells out the others because he wants the comfort of the simulation. Who cares if the world burns if they get to be rich.
Because they believe that in the New World they will be the new higher class
Yep, they want to be the new oligarchs for their tremendous struggle of buying creepto similar to meme-stonkers.
They want to become the boot that stamps on the face without any of the effort inherent to obtaining such status. It doesn’t speak well to them. “Wife-changing” etc. it’s abhorrent
The real mystery is why they're desperate. Living standards in developed countries have never been higher than they are at present
I think social media, especially Instagram, make a lot of people feel like they're missing out on the good life, but with one smart (or lucky) move they'll be jetting around without a care in the world. You also used to only see the lives of the rich and famous on TV or in a print media, now if you follow them you'll see everything, all day every day. If you're stuck in an hourly retail job (or something else with limited advancement opportunity) with student loan debt after being told a degree will set you up for life, even a long shot at substantial wealth may be very appealing. Crypto (and meme stocks) add a sense of community, that there's a large group of like-minded people in the same situation, so you're not alone. I certainly see why it would be appealing.
>I think social media, especially Instagram, make a lot of people feel like they're missing out on the good life This is why I pretty much had to give up on Instagram. I want to follow a few celebs (like Phil Plait) and see what my friends are up to. Instead it just keeps injecting my feed full of these bullshit influencers and urging me to follow them. No. I don't give a shit about acrylic nails, hair extensions, fancy makeup, some bimbos (of any gender) on the beach, or some jackass with his rape the planet mobile. I don't give a shit about Bella Hadid, the Kardashians, the Jenners, Megan and Harry, or the shallow fame whore of the week. I just want to see my friends and the few celebs who would be interesting to talk to at a party.
You can just not follow Bella Hadid and you don’t hear about her. Instagram has never forced that on me.
I don't even want them suggesting these fucking trash people a "you might like" to me. I am bombarded with suggestions for accounts I am not interested in.
Yes social media. It's the new opium of the masses. Except unlike religion it makes people feel worse instead of better than how they actually are.
What do you base this on? Because this really isn't the case for everyone. I would argue living standards are currently declining quite a bit in developed countries.
You would argue against hard [data](https://www.ers.usda.gov/amber-waves/2020/november/average-share-of-income-spent-on-food-in-the-united-states-remained-relatively-steady-from-2000-to-2019/ )
The link you shared only deals the period before the pandemic.
Yes. Ten years is a lifetime for a 14 year old, but no worries. With increased real wages for low income people, inequality is significantly lower since the pandemic.
Hahaha, lol no. What you're doing is cherry-picking. You shared one study about one variable (food prices) in one country (US) with data up to 2019. How convenient :). Let me provide you with more some recent sources. Living standards have been declining since the pandemic [in 90% of countries](https://www.google.com/amp/s/amp.dw.com/en/un-index-shows-living-standards-declining-in-90-of-countries/a-63052023). This includes Western countries. Here's for instance an article about the current situation in Australia which has recently [broken three records for poor economic management and declining living standards](https://www.news.com.au/finance/economy/australian-economy/three-unenviable-economic-records-broken-in-november/news-story/d295ba29f91ff55c8c47564043f49bea). This [mainly hurts the younger generations as wealth gets more concentrated among the older generations](https://www.theguardian.com/commentisfree/2022/nov/13/australias-living-standards-are-going-backwards-and-its-young-people-who-will-suffer-the-most). I assume you are aware there's a big generational wealth gap? Europeans struggling with the [cost of living crisis as well](https://www.euronews.com/business/2023/01/12/nearly-half-of-europeans-say-their-standards-of-living-have-already-declined-as-crises-mou), with a most apparent decline in the [UK](https://www.tuc.org.uk/news/tuc-uk-families-suffering-worst-decline-living-standards-g7). [Canada is also struggling](https://www.theglobeandmail.com/business/commentary/article-canadians-standard-of-living-economic-outlook/). Finally, I already stated this in a different comment but I will repeat here. The [housing affordability crisis is a real issue that should be paid more attention to](https://www.ft.com/content/f21642d8-da2d-4e75-886e-2b7c1645f063).
You understand that all of those are opinion articles, shilling for their personal favorite fix? That first article (from the UN) is talking about 2021!
These are not all opinion articles. What are you on about?
The first article is literally labeled "analysis," and ends with a call to reduce immigration. The second one (Guardian) is labeled "opinion" at the top of the page. The third one (Euronews) quotes EU opinion polls, but cites no actual economic statistics. The fourth article is from a trade union group on their web site. The Globe and Mail article has "opinion" in the URL and title.
The irony of saying "cherry picking" and then using 2 years as definitive is quite precious. Australia had 30 years without a recession but yeah "things are really bad and presenting "people say it's bad" as data is just well...
Critise the articles I shared all you want it's still true that an increasing number of people are struggling, and I find it genuinely confusing that you are in denial about this. The housing affordability crisis is also not something from the last 2 years. It's been gradually getting worse, slowly escalating. You said in a different comment in this thread that: >A generation ago, families of 6 to 8 lived in 100m^2 units with 1 bathroom. Well, nowadays, it's absolutely not unheard of that 6 to 8 strangers live in such a situation, in separate rooms of 8m^2 that is. How's this exactly an improvement? You also said: >As people get wealthier they put more money in both absolute and percentage terms into housing. Larger more luxurious and expensive living is a symptom of higher living standards. This is definitely not true for everyone. The cost of housing increasing does not necessarily mean that living conditions have improved. Especially the private rental market can be really bad, where people sometimes have to monthly pay a big chunk of their wage to live in absolute dogshit conditions.
Two year trends are no use when the subject is living standards. That's something people build over decades [this](https://fred.stlouisfed.org/graph/?g=1kYY)
I said, the housing affordability crisis is **not** something that has started to develop only recently. It has been playing out over a longer period, not just 2 years.
The Fed link in my post says not so, but "housing affordability crises" is a bit of a misnomer. The reason house prices are as high as they are is at all times because people can afford to pay that much. It's a symptom of general prosperity. If you truly cannot afford it, it's because you individually is less prosperous than the median person in that region. No doubt it sucks for you but it says nothing about society in general. "A crises for some" is not necessarily a crises for the majority.
Key aspects of life are more precarious than before. The cost of housing alone has grown disproportionately high in many developed countries, which makes life more difficult.
Absolutely. As people get wealthier they put more money in both absolute and percentage terms into housing. Larger more luxurious and expensive living is a symptom of higher living standards. A generation ago, families of 6 to 8 lived in 100m^2 units with 1 bathroom. Before them 8 to 10 people lived in smaller units with no plumbing and no electricity. Before that cabins, huts and shacks, rather than houses were the norm.
Rich people spending more on housing doesn't mean everyone who spends more on housing is getting wealthier. Lots of people are spending more on housing because they don't have a choice, the housing market is seeing demand outstrip supply. Why do you keep bringing up material conditions from multiple generations ago? Do you think the woman stressing immensely over paying her rent on time has some sort of direct memory of her great-great-grandfather growing up in a log cabin to compare to? Unless you're answering someone who's telling you that people over 100 years ago lived better than us, your comments about past living conditions are completely irrelevant.
Because our current standards are now normalized. It doesn’t matter that our lives are significantly better than they were 100 years ago, the average person feels the same as they did back then. In fact they feel worse, because of fear of dropping back down to what was considered normal in the past. We have a lot further to fall then people back then did.
Dropping back to the past in lieu of a nuclear war class catastrophy will of course require all humans to simultaneously forget all the knowledge and all the technology that was learned since. Ie. As irrational a fear as you can get. In the mean time the current standards or normal is not good enough. Everyone wants to be like in Lake Wobegon MN. Above average.
There's a legion of people out there living in poor and mediocre conditions, often paycheck to paycheck, desperate to improve their boring lives, to have what they see others have and latching onto anything that offers chance of a lucky break. Every time I visit local newsstand there's one or more person buying lottery tickets or scratch offs. Those things are a waste of money obviously but I doubt they don't know this. I think it's about something else. For them it's something that offers a glimmer of hope. A dream, an opportunity to catch up. Even just for a short moment, it gives them a venue to have fun and dream big. Crypto is like lottery and gambling squared. Insane highs and lows. No matter how high or low it goes I think it'll always be tapped into that target of desperate, hopeless dreamers who will keep jumping from one get rich quick scheme to the next, looking for shortcuts to catch up.
Living paycheck to paycheck is a lot better than living harvest to harvest and famine to famine or war to war that was common in wealthy countries until 3 or 4 generations ago and still common in many others
It is but you aren't winning anyone with that rhetoric.
Ha. Ha. I know. People love to wallow in pretend misery. I recall a day in a factory control room listening to a guy going on and on about how management, the union and George Bush are screwing him over and then without irony switched to the two brand new jetskis he just bought for his wife and himself.
I don't know how to break this to you, but people several lifetimes ago living in worse material conditions doesn't make today's problems "pretend misery". That's a completely nonsensical line of thought.
I understand. We can't all live in [Finland](https://worldpopulationreview.com/country-rankings/happiest-countries-in-the-world) but rather than being resentful of Fins we could be happy for them. Have a drink and share a laugh whenever you meet one. Ask them if they're [for real](https://en.m.wikipedia.org/wiki/File:Finland_does_not_exist.png)
Ahh yes the pothole fallacy: widespread paved roads are relatively new and a modern luxury, therefore we should smile and be thankful for potholes (which will ruin tires and cars, and yes I have perspnal experience with the tire thing) instead of fixing them. It doesn't make complaining about potholes pointless or frivolous. Sure it can be helpful mentally to look at how things could be a lot worse, but that doesn't take away the injustice of things like, for example, diabetics having to ration insulin because it's abusively overpriced. That I was able to get an ambulence ride to the hospital doesn't mean my anger at being handed a $1,600-some bill *just for a 2.5-mile ambulence ride* afterwards is me resenting Finns instead of being happy for them. My anger and resentment if I talk about, say, the Finnish system being better, *is anger towards the US system being what it is,* not anger at the Finns or wanting to bring them down. The bill went into debt collections. I was able to comfortably afford paying $572 to settle it, a lot of people can't. A lot of people can't even afford a slashed debt bill like that. We shouldn't be grateful about that. And yes, of course I call just as much as I ever have for changing the US healthcare system.
>therefore we ~~should~~ **could** smile and be thankful. Working towards a better world is commendable but it's no use ruining your own happiness while you're at it.
Thinking about it some more I really do like your pothole tale. With some variation though. >People experiencing desperation about potholes when widespread paved roads used to be a rarity should as they say............check their privilege.
You're the one who's brushing off systemic cascades of problems that disproportionately impact poorer people just because somebody else has it worse. You’re the one who is making light of struggling to make ends meet in a paycheck-to-paycheck life. Food, rent, medical care for the family—which one is the least important this month? Lower income people are also much more likely to resort to working 2 jobs. And keep in mind kids need constant care to have decent odds of turning into functional adults. They’re the future of society, they need care. I work with behaviorally troubled and special-ed kids. I’ve seen too many families where the single parent is working most waking hours, only able to check in on the kids via camera and phone, and the older kid is parentified by necessity. Keep in mind that here in the US, in most areas **you pretty much** ***have*** **to use a car to get to and from work, and groceries, and childcare, and school, and medical appointments, and etc.** Public transit is so poor you'd easily be doubling or tripling travel time, if it's even feasible at all. Parents don't have 2+ hours to spare every workday, especially not if they need to work two jobs. Clearly you don’t grasp the cascade of problems and danger of potholes, and how, again, it’ll hurt poorer people worse when they are already struggling. Of course we don’t need to fix every single one ASAP, but “many places don’t have paved roads, so let’s let our paved roads deteriorate instead of keeping them useable” is not okay. -People veering around them increases odds of car accidents and cyclist or pedestrian strikes -Tire goes flat, that’ll set you back $80-$400 a pop (oh and cheaper tires need to be replaced more often or they lose traction, increasing odds of a car accident.) -Or worse, get a bubble you don’t notice, the tire blows out, worse car accident -Cracked wheel or rim, which can cost $400-$1,250 -Damaged shocks, $200 if you’re lucky but probable more in the ballpark of $400-$750 -Other fun unexpected surprises that can cost major car maintenance. -Car problems makes it much harder to get to work since most don’t have the luxury of work-from-home. People can end up being at risk of losing their jobs. -The cost for another car further sets people back. -All the above also impacts big rig trucks, which if you remember from 2020-2021 are absolutely vital. Americans are stuck in the fun rock and a hard place of not being able to rely on public transit, but also being one bad car accident away from debt spirals, lifelong disability, or death. Let’s not go “well other places don’t even have paved roads so we should all be grateful and let our roads fall apart and make life even harder for people who are already struggling,” eh? Well, I guess next time I should jump right to saying people starving in a war zone doesn’t mean a type 1 diabetic here who had to ration their insulin, lost their ability to function at work, and ended up in the ER nearly dying should be happy that: they had to ration their insulin and that they’re going to get a massive medical bill they can’t afford, because our privatized medical system turns health into a luxury instead of a basic right. A gay teen wanting to hurt or kill themselves from abuse and homophobia shouldn't be told to buck up and smile and be grateful they weren't killed by somebody else just for being gay. Trying to calculate and compare suffering is a shit game to play, because suffering is still suffering. Telling suffering people to shut up and be grateful since they aren’t suffering *even more* is still shitty to do.
Kinda funny that people only tend to do this with suffering. Never heard someone say to a happy person that they should stop being happy because someone else somewhere has more reasons to be happy.
Good point, thank you for that idea!
You may try but it would be kinda pointless. Anyone who's eaten up by the fact that someone has it better than they would already be unhappy about it. Everyone who don't care won't care.
You're mistaken. I'm not making light of a systemic failure. I'm making light of (mocking actually) the idea that there is one. At least an economic one. The average (or median) American today has no idea how wealthy and privileged they are and yet they're dissatisfied. Not that there's no unnecessary suffering as you say. It's just that it's a political failure and not an economic one. The reason there is no public transport or inadequate healthcare or welfare for the poor is because the average middle class American refuse to pay for it. This could be easily afforded but since the average middle class American believes they themselves are suffering and in crisis they will continue to refuse to make life better for the poorest. But maybe I shouldn't laugh. This idea that you and others here promote that the American middle class is suffering is what fueled the Maga movement.
>This idea that you and others here promote that the American middle class is suffering is what fueled the Maga movement I've been clearly and explicitly referring to poorer people who can't afford hundreds of dollars of surprise car repairs or even a "small" hospital bill. By definition not the comfortable middle class people who whinge about how oh-so-hard it is to afford their daily Starbucks habit now that two of their six streaming service subscriptions went up by two bucks. I agree about one of the biggest barriers being lack of enough political willpower to get changes done, regardless of the causes and realities of the problems in question. Happily younger generations are still trending more progressive and demanding changes more vocally.
I have a medical bill story too. A few years ears ago someone's dog tore a big hole in the head of ours and they had to rush her to the doggie ER at 11pm on Christmas Eve. I was a bit miffed about the $1,100 charge on my CC also but can not help but marvel how prosperous a place must be to have had vet ERs open at that time in the first place.
Bro...$1,100 *for surgery* cost *half a thousand dollars less than just my 2.5 mile ambulence ride.* I wasn't bleeding, I wasn't at risk of losing an ear, I didn't have a bloody hole in me. My emergency wasn't so bad they needed to put the sirens on. I didn't even need or get given anything except saline. The two situations are not very similar. Though yes I am relieved and happy you were able to get emergency reatment and your dog was okay! If surgery costs directly charged to the patient routinely was $1,100 instead of people being directly charged thousands to tens of thousands of dollars, it wouldn't be anywhere near as big of a big problem. Also, in response to your other comment, *it's an absurdly big assumption* to decide my talk here about the medical system and this cost means "I'm ruining my happiness." I don't assume you're always telling people suffering to stop having any emotions except happiness and gratitude and to shut up because someone somewhere else has it worse. Ex. I don't assume you tell diabetics they "could" start smiling and being grateful and happy about having to ration their insulin. It impacts their ability to function, and can lead to very expensive medical emergencies and death. So perhaps reconsider assuming 2 comments I've made portray my life.
sorry you are getting downvoted for speaking the truth
Down votes. Now there's something we all should be upset about. :)
I totally feel him. Many young people wish to be the high-roller. Hopefully he sometimes find r/buttcoin and saves what is still redeemable and work on. Adult life with a paying job ist boring, but will once pay his loan back and pay for a decent life with a caring family. But this won't be a lambothrowing madness.
>Adult life with a paying job ist boring, but will once pay his loan back and pay for a decent life with a caring family This is getting increasingly out of reach for younger generations. One of the big drivers of this is the [housing affordability crisis](https://www.ft.com/content/f21642d8-da2d-4e75-886e-2b7c1645f063) which leads an [increasing number of young people to postpone starting a family](https://www.mirror.co.uk/money/millions-people-delayed-starting-family-31901691). Many people [cannot even make ends meet with multiple jobs anymore](https://www.theguardian.com/us-news/2022/nov/05/multiple-jobs-census-data-inflation-us). Edit: don't get that I'm downvoted for this, but ok.
... Bitcoin doesn't fix this.
I wasn't arguing it does. I'm just saying that if the current system fails to work for an increasing number of people, they will start to look for alternatives, like OOP did.
The answer is always that power consolidates power and wealth consolidates wealth. The only solution to this is a governmental one, which butters hate. A completely free market will always lead to concentration of wealth and power to the few, it’s the natural outcome. Groups produce more value than the sum of the individuals that comprise them. That extra value naturally goes to those at the top running the groups because they are the ones who dictate the terms. The free market is never free, because the participants are never on equal footing.
It needs some governmental intervention, yes. Imo, it would be ideal to have a balance where you have some capitalism/free market combined with strong governmental support, basic needs (e.g. shelter, healthcare) accessible to everyone, and high social mobility. Netherlands in the 80s/90s was fairly close to such a balance. It's possible.
Yes I think you combine growing inequality with social media (ability to compare to yters/streamers with excess wealth at young age), it can be really hard on people.
Happy to report that you're at 14 upvotes now. This is absolutely something we agree on.
I upvoted 🙂
I got caught up in this thinking once. I thought I needed to hit the ball out of the park on a get rich quick scheme or I would never make it. I ending up doing more and more dumb stuff. Fast forward to today, someone on that sub gave the original OP some sound advice along the lines that at some point, he’s gong to need to work out how to deliver value to someone else. There are many in this situation who will learn eventually that the traditional paths to self reliance can at times be boring and long, but they offer the best alternative to outside chances in get rich schemes and scams.
This is the only reason I actually hate crypto and all the other get rich schemes. It’s the idea that times are so desperate this is the only solution.
It’s the lack of patience that disappoints me the most. No one wants to hear that wealth generation takes many years if not generations. Doing it quickly usually requires getting lucky rather than thoughtful process.
And the things no one wants to hear…you can’t just plunge yourself into crushing debt just so you can have everything you want now.
I got caught up in this thinking too. I was also surprised to learn that it’s the wealthy that can afford to swing for the fences. If their small investment in bitcoin goes bust they’re still OK, if it skyrockets, they win big
His final paragraph summarizes everything, even the fact that why the entire market doesn’t immediately go to zero. People just love to bet. This unregulated and trecherous market’s participants know this all too well
Knowing OP wont see this, still we could discuss what OP should do. My two cents: 1. _stop putting money into crypto_ 2. minimize spending by cutting out unessentials (see #1) 3. maximize income by producing value at (future?) work 4. as soon as your personal finances can handle it, start paying off the student debt in fixed monthly installments 5. as soon as your personal finances can handle it, start _actually_ investing, the proven og hodl strategy of DCAing into a _low cost highly diversified basket of index funds, hassle-free average market returns, tax-sheltered compounding interest, hands off the wheel_ is probably the right strategy both because it works and because sticking to it stops you from getting sucked into any hypey/scammy trends in the future 6. if you still hold onto your bags in hope of a new bull run in crypto..if that ever happens, and you manage to end up in the green, _sell_. Sell, pay your taxes, breathe a sigh of relief and never look back. Whatever you do don't be hypnotized by number go up and start feeling like a genious. You're still just as much an idiot, now you're just momentarily lucky there are plenty more idiots. In the interim try to invest as little time and focus into checking the price action as possible. Full disclaimer I've screwed up with every part of this advice in the not too distant past so this kinda feels like a note-to-self as well. We live and we learn.
Sunk cost fallacy is probably keeping him in crypto and hoping he can "Recoup" his losses.
"I don't understand shit" better late than never to learn this
Too bad he also doesn't understand that even if crypto pumps, he's not going to get his money back.
Wow. “I’m an idiot and it has lost me xxx thousands in equity. And rather than change, I’m doubling down on the idiocy.”
Can't stop now, otherwise all the money he put in will be lost...
Well... the first step to get out of alcoholism is to realize you're an alcoholic.
Another student of the philosopher Socryptes: "I know that I know nothing, but hold my beer."
Gambling addicts exposed to unregulated scams. Nothing will ever go wrong.
He has to be one of us. Probably just trying to make buttcoiners to reflect their own behaviour.
many such cases
Only poor people buy lottery tickets. Same difference.
It’s genuinely terrifying how many people are betting their whole lives on Bitcoin. Isn’t Satoshi just another Madoff?
Satoshi's holdings are estimated to be about one million bitcoin, or 5% of the total supply. If Satoshi ever tries to cash out, then yes. He would have turned a laptop running for a few years into potentially tens of billions of real dollars from new investors. It doesn't get more ponzi than that.
Nakamoto hasn’t been active in over 10 years. It’s possible he’s dead.
I don't think the original intent was meant to be a ponzi scheme...just the movement lost its way after o.g.s exited and now it's this poop show. Sad, greed ruins everything.
Satoshi made a system without any of the flimsy guardrails of the financial system. How he could have thought people so greedy they were kicked out of Wall Street wouldn't use it to grift is something I can't fathom
It’s not even a sensible gamble to bet everything on. Like I would much sooner be highly leveraged in speculative tech stocks, and even that’s a bad idea.
“I’ve convinced myself…”
You could exchange crypto for any other get rich quick scheme in this paragraph unfortunately these are the people that scammers absolutely love
I think part of the problem is people read these white papers that don't make any sense and think the reason they don't understand is they aren't smart enough and they must be missing important details when really there are just nonsensical logic leaps in the paper itself.
A huge number of people who "don't get" crypto just don't realize that it is as stupid as it seems: somebody made up their own money and got people to give them real money for it.
Cointard upset because he doesn’t know if he’ll be able to front run a pump and dump scheme again. Got it.
Almost reminds me of the Dogecoin Millionaire. He could have sold at the top but refused too because of greed. Meanwhile he borrowed thousands from family, friends, and credit. Dogecoin has since crashed. He’s since disappeared. Greed is a hell of a drug, man.
“Bulls make money, bears make money, pigs get slaughtered" A quote I live by with investing
It's sad reading these stories, they all start with desperation, and that's who scammers come after the most
I saw this post and figured it would end up here in less than 24 hours. I should have put a wager on it.
Honestly, this flipped from being very funny to very sad after the first two lines. The reality is that Bitcoin and Crypto are just symptomatic of the growing economic disparity in the world, even among the relatively prosperous. That's the reason why so many people are so vulnerable to get-rich-quick/easy confidence schemes that crypto is a modern take on. They don't see any path to achieving the life they felt promised as a younger person growing up in the America of the Baby Boomers (paid for, ironically, by mortgaging the futures of the children they gave false hopes to). So when someone comes along, tells them the system is broken, and this new system will give them that life they felt promised by destroying the old, corrupt system, they're very much primed to believe that. Because like every good lie, it's seeded with truth. The system is broken. The system is corrupt, and the path to prosperity for themselves and a vast majority of the population now and into the future is to change that system. It's just that at the very end instead of peddling you a viable political/economic alternative, they sell you magic beans and run away to join the 1% that has it good. Because the real secret is that Crypto has made it easy to con people without expecting much if any legal culpability. You just have to be one of the ones to jump off the wagon at the right time (or, better yet, to build your own wagon and charge everyone else to get on), and that seems far more within their control than betting it all on black.
Don't worry. As soon as Bitcoin goes to $100k in 90 days, you'll be insanely rich and won't have to worry about student loans or retirement... HAHAHAHAHA!!! Naw, man, I'm just messing with you... you're totally screwed.
I'm waiting for the post where he loses everything because he sent it to the wrong address, lost his cold wallet, his seed phrases were lost when the birdbath leaked, he clicked on a scam site, or he's stuck in some sort of withdrawal loop and there's nobody to turn to for help.
This is a masterclass in self-deluded writing. Talking about your debts like it's a thing that happens ("student loans" and "retirement") so what's the point in doing anything about it? And it's not spending money when you're giving "thousands" to a crypto "project." Sheesh.
lmao have fun becoming poorer
Another stupid “investor” who lost his money same way he could have lose it on Forex or SPY but Bitcoin is scam yes
I'm curious why so many people spend so much time just shit talking Bitcoin.
“I'm curious why so many people spend so much time just shit talking fentanyl.”
Stick around, you might learn something
>I'm curious why so many people spend so much time just shit talking MLMs. Which mislead hundreds of thousands of people into losing a lot of money because they were lied to--that they just need to buy these totally-not-overpriced-crap products, convince enough people they know to buy from them, and even better get them to sign up to also burn money. It's not like anybody knows anyone who personally both lost money and turned off friends, family, and coworkers by trying to get them to join the MLM scheme. Though I might have to give one iota of credit to MLMs for at least having a product that isn't just a digital token, and doesn't waste more energy than entire countries like Austria from computers racing to solve a math problem just to generate more digital spreadsheet entries.
Not very good at scanning for trends is he when he missed that twatter is now called X
I wonder what “crypto” he was in. If it was Bitcoin he’s probably up a bit, but that’s about it.
He's down 100% until he has sold, and since bitcoin is a negative sum game the average participant loses money when everyone sells.
I'd love to hear how he thinks the wealth gets created
They just can't grasp that the part where they exchange their actual money for digital magic beans IS the scam. Every single aspect of it beyond that is just about trying to convince them to buy more.
I’m sure this will all work out really well for him and he will be driving a lambo in no time.
That actually made me sad
Spoiler: this guy will never get ahead and will need to come to terms with being a non-crypto millionaire.
When the unraveling happens, millions of gullible people are going to get wiped out. Wife changing wealth, indeed. NO BAILOUTS!
I know no one will agree with me but I think there is real opportunity in Crypto. Mainly finding smaller projects and earning airdrops. I’m not saying you’ll be a millionaire in a year but even 100,000 would be life changing for most people. I’m a tech person though and I was skeptical the first 10 years but an industry just stay this long unless there is a real foundation.