2901

And it’s almost like the stock market has numerous rules and regulations that attempt to prevent scams from occurring. They don’t always work, but at least they’re trying.

Zero rules or regulations in crypto. Tons of scams.

Different.

2902

As the man way up there somewhere said, as a currency crypto is mostly about facilitating crime, and as an asset it’s a Ponzi scheme, and the relationship between the two treatments is a symbiotic one. You can’t have one without the other. Any hint of regulation at either end would likely bring the whole thing crashing down.

2903

Someone good in Photoshop take this and make it:

Crypto
Not a scam, but #1 with scammers

image

2904

Stocks/Bonds/etc investment vehicles have mechanisms to pay out on your investment. Stocks pay dividends, bonds return interest, etc.

What does it it mean to call GME a scam? GME is a stock that supports a real company that has some history of paying out dividends:
https://www.nasdaq.com/market-activity/stocks/gme/dividend-history

It’s not a super successful company right now, but it is a legit company and everything.

Now if your question was there a scam pump-and-dump frenzy around GME that’s way different than if GME itself is a scam.

The Brooklyn Bridge is not a scam, but if I sell it to you then that is.

2905

That’s what I am saying though. BTC isn’t a scam, there are scams that involve it. The stock market isn’t a scam, but there are plenty of scams around it.

2906

What’s BTC’s “normal” mechanism for paying out on a capital investment? Dividends? Interest payments?

2907

You are aware that a lot of people like to take risks with their money and I am not comparing crypto to a an index fund in any way.

You can also play penny stocks that are regulated, but are very unstable, and you are playing against people with different sets of knowledge and rules. You can take any of the thousands of crappy mutual funds sold by financial advisors who are taking advantage of clients without any financial knowledge. Then there are inside traders and our government representatives manipulating stocks to their own advantage. It’s almost like crypto should be part of the stock market.

2908

I am not saying it’s not a different kind of investment. Do I get interest payments or interest on gold?

2909

I’m afraid I really don’t understand what you’re saying. You keep saying things like crypto is just like the stock market and then when people challenge that you say I’m not comparing crypto to the stock market. It’s really confusing, and I’m not sure what you’re really after. Except maybe you just don’t want people here trash-talking crypto.

Why not play blackjack on the stock market?

2910

But you said it should be part of the stock market?!??!?

2911

I am saying it is like the stock market in that it is a way to investment money in something risky either make money or lose it. It is gambling, which the stock market very much can be. That the game is completely unfair and probably rigged against you, but you can make money of it. I have given several examples but you choose to ignore those and say “It’s not the same because I can just make money off of index funds.”

2912

As you well know that was tongue-in-cheek.

2913

Gold holds value. And has for 6000 years. It’s never been a great money making scheme in modern times.
People who invested in it generally were countering inflation, praying for a return to the Gold Standard or hoping for an apocalypse.

2914

Gold is commodity which has a wide variety of industrial uses along with decorative ones.

2915

Gold has value because people say it does. Sometimes those people say its not as valuable as it was yesterday. People could say tomorrow that is gold is worthless, you take that risk. Same could happen with crypto, and it’s a lot more likely to happen with crypto. No one said it’s not an incredibly risky bet.

2916

Stocks have value because of the underlying business. The problem is you don’t know everything about the business. The stock could to go pennies the next day and you could lose everything. I learned that the hard way.

2917

Now do food.

(Really, this conversation is bizarre.)

2918

It is really is.

2919

That is how commodities and basically everything works, yes.

Again, it has never happened as long as civilization has existed.

It’s insanely unlikely to happen. You can’t make a crown out of crypto.

Lottery tickets are also a risky bet. I wouldn’t recommend investing in them.

2920

Right, but as I have been saying with stocks, commodities, everything; sentiment is a big part of it. GME was all about the sentiment, not the actual value of the company, for instance. That’s all crypto has going for it, but it also means you can try to make a play on that.