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Joined 1 year ago
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Cake day: July 3rd, 2023

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  • Okay, hypothetically let’s imagine someone who is a Bitcoin trading god. Every peak he’s there unloading his bags, every dip and he’s buying hundreds of Bitcoins. This guy turns thousands into millions and millions into billions. Huge success story right?

    But here’s the rub, where is all this money coming from? The money isn’t coming out of thin air, it’s not coming from the crypto exchanges, otherwise they’d go bankrupt, it’s not coming from the value of any goods or services produced. The answer is that all that money is coming from other people. Someone has to be buying at the peak thinking it’ll go “To the moon” and getting burned, or maybe the need to pay off some hackers cryptolocker. The same for the dip maybe someone needs real money right now and must sell despite the loss, or maybe someone is panic selling thinking the price will go lower. Our hypothetical trading god hasn’t really created any money or anything of value at all, they’ve just moved money from the losers in the Bitcoin to his own wallet.

    This makes you the equivalent to one of the spokespeople from near the top of a pyramid scheme taking about how this is one of the legit pyramid schemes, because you’ve earned so much money! Ignoring of course that all of their money means that someone somewhere needed to lose that money first.

    However, I suppose at the end of the day, you did take twenty four thousand dollars from crypto morons, so I suppose that’s kinda noble in a way.









  • I can see! Man could you imagine spending a full twenty hours a week socializing with your peers, traveling, or (*gasp*) even exercising!? Why, I’d barely be able to hold it together for my daily hour long “Business meal”!

    God knows I’d never be able to soldier through like Musk, constantly promising things like “Mars colony in two years” every year (among other things)while still having the time to spend hours posting “!!” “Concerning” or “XD XD XD” until 3 am on Twitter. Why I probably wouldn’t even have the time to signal boost white supremacists and post dog whistles about we need more babies to stave off “the great replacement”.