2881

Exactly. And? If its ok in the stock market, it’s ok in crypto. Its all good.

2882

So what the heck are you on about in the first place? Seems you don’t even know what your own arguement is.

2883

But not even to a fraction of the extent as the crypto market.

2884

Uh, okay.

2885

I mean look at any hedge funds. Senators even. The whole system is rigged.

2886

So you can’t criticize crypto because other scams exist?

2887

My whole point has always been that Bitcoin is an incredible volatile investment. That its a lot like the stock market.

2888

True, factually, it’s just a tool. That is mostly used for scams, money laundering, and blackmail, but a tool itself can’t be any of these things.
The difference is that stocks have some connection to real productive things, despite quickly accelerating to not have it; it’s just a really, really long path.

2889

One of these things is regulated.

2890

I’m not sure you can say “Bitcoin is a scam”. It’s more complicated than that.

I am sure that anyone defending bitcoin is effectively pro-scam.

2891

I feel like BTC is a lot more volatile than the stock market. They’re both subject to the vagaries of irrational exuberance, but in the case of BTC the irrational exuberance is pretty much all there is. And then there is the whole question of regulation.

2892

Incredibly volatile? Absolutely. Not sure who you think disagrees with that.

Just like the stock market? No. You have to hand wave away massive differences to claim that.

2893

It is, but months ago I pointed out a lot of the investment stuff I read and listen to that crypto is a common discussion now. A lot of Wall Street type people seem to think of it as a highly speculative investment. I was basically told I was full of it. I have always found this thread fascinating because it is very anti-crypto, and other parts of my life people seem more and more open to it.

2894

All crypto is manipulation. No one needs crypto. As a transaction framework it is consistently worse than established technologies.

There is no functional difference between bitcoin and dogecoin (all the differences between them are technicalities. If anything i’d say dogecoin is better thought out than bitcoin)

2895

Not just like it no, but it is thought of as investment by some types of people. And the stock market is regulated, but there are a lot of people manipulating it to their benefit, so I see it as similar.

2896

I mean, so is betting on horses, or boxing matches, or giving your money to Bernie Madoff. You could be one of the lucky ones at the top of the pyramid scheme! You could win the daily double! But none of that is at all like the stock market.

2897

I could buy BTC or GME today and they could both skyrocket in price in the next 6 months due to no reason other than some group of people wanted it to.

2898

Yes. Or the other thing can happen. Aren’t there probably a bunch of people who made that calculation 6 months ago?

2899

Right, but that’s what I mean by similar. Yes stocks have a tangible asset that backs them up, but that doesn’t always matter. In the last few years, that didn’t seem to matter for a lot of stocks.

2900

On the other hand, if you’d put your money into a market index 6 months ago, you’d be down 20% rather than down 50%. It’s almost like they’re different.