▲ 94 ▼ Opinion | Don’t Get Fooled Again by Crypto (www.nytimes.com) submitted 2 years ago by Hirom@beehaw.org to c/technology@beehaw.org 68 comments fedilink hide all child comments
[–] unexposedhazard@discuss.tchncs.de 18 points 2 years ago (4 children) Most people who got fooled once will get fooled twice. Thats just what fools do. permalink fedilink source hideshow 8 child comments replies: [–] Hirom@beehaw.org [S] 9 points 2 years ago (1 child) Fool me once... permalink fedilink source parent hideshow 2 child comments replies: [–] Rolive@discuss.tchncs.de 11 points 2 years ago (1 child) You can't get fooled again? permalink fedilink source parent hideshow 2 child comments replies: [–] onlinepersona@programming.dev 2 points 2 years ago No no permalink fedilink source parent [–] FlashMobOfOne@beehaw.org 4 points 2 years ago* (last edited 2 years ago) This is 100% why it's good to have a small chunk of your portfolio in crypto. It's hit all-time-highs four times in the last ten years, and now that you can buy into Bitcoin ETF's, you can get dividends as well. It's hard to argue that it won't again after that, but I wouldn't put any more than 10% of your investment capital into it. permalink fedilink source parent [–] freedomsailor@programming.dev 3 points 2 years ago Statistically, yes. But they’re not fooled by crypto, but by other people, or just by their own not understood feelings. permalink fedilink source parent [–] technocrit@lemmy.dbzer0.com 2 points 2 years ago (1 child) Yes, crypto people keep getting fooled by record breaking prices. So sad. permalink fedilink source parent hideshow 2 child comments replies: [–] t3rmit3@beehaw.org 4 points 2 years ago* (last edited 2 years ago) The prices don't mean anything if no one is paying it, which if something is at said 'record breaking' levels, means there is at least 1 fool out of the 2 involved. It's still just a pyramid scheme in the end, because if I'm trading ammo or a sandwich or pigs or something, at the end of the day if no one wants to buy them from me I can still use them myself. With crypto, there will by definition be someone holding a valueless and unusable item at some point. Whether or not the opportunity to make money in the time before that happens outweighs being involved in a pyramid scheme, is what everyone has to ask themselves (and be judged for depending on their answer). You can argue about whether all money is the same in this regard, but there have been hundreds of crypto coins that have failed since the last fiat currency died. permalink fedilink source parent
[–] Hirom@beehaw.org [S] 9 points 2 years ago (1 child) Fool me once... permalink fedilink source parent hideshow 2 child comments replies: [–] Rolive@discuss.tchncs.de 11 points 2 years ago (1 child) You can't get fooled again? permalink fedilink source parent hideshow 2 child comments replies: [–] onlinepersona@programming.dev 2 points 2 years ago No no permalink fedilink source parent
[–] Rolive@discuss.tchncs.de 11 points 2 years ago (1 child) You can't get fooled again? permalink fedilink source parent hideshow 2 child comments replies: [–] onlinepersona@programming.dev 2 points 2 years ago No no permalink fedilink source parent
[–] FlashMobOfOne@beehaw.org 4 points 2 years ago* (last edited 2 years ago) This is 100% why it's good to have a small chunk of your portfolio in crypto. It's hit all-time-highs four times in the last ten years, and now that you can buy into Bitcoin ETF's, you can get dividends as well. It's hard to argue that it won't again after that, but I wouldn't put any more than 10% of your investment capital into it. permalink fedilink source parent
[–] freedomsailor@programming.dev 3 points 2 years ago Statistically, yes. But they’re not fooled by crypto, but by other people, or just by their own not understood feelings. permalink fedilink source parent
[–] technocrit@lemmy.dbzer0.com 2 points 2 years ago (1 child) Yes, crypto people keep getting fooled by record breaking prices. So sad. permalink fedilink source parent hideshow 2 child comments replies: [–] t3rmit3@beehaw.org 4 points 2 years ago* (last edited 2 years ago) The prices don't mean anything if no one is paying it, which if something is at said 'record breaking' levels, means there is at least 1 fool out of the 2 involved. It's still just a pyramid scheme in the end, because if I'm trading ammo or a sandwich or pigs or something, at the end of the day if no one wants to buy them from me I can still use them myself. With crypto, there will by definition be someone holding a valueless and unusable item at some point. Whether or not the opportunity to make money in the time before that happens outweighs being involved in a pyramid scheme, is what everyone has to ask themselves (and be judged for depending on their answer). You can argue about whether all money is the same in this regard, but there have been hundreds of crypto coins that have failed since the last fiat currency died. permalink fedilink source parent
[–] t3rmit3@beehaw.org 4 points 2 years ago* (last edited 2 years ago) The prices don't mean anything if no one is paying it, which if something is at said 'record breaking' levels, means there is at least 1 fool out of the 2 involved. It's still just a pyramid scheme in the end, because if I'm trading ammo or a sandwich or pigs or something, at the end of the day if no one wants to buy them from me I can still use them myself. With crypto, there will by definition be someone holding a valueless and unusable item at some point. Whether or not the opportunity to make money in the time before that happens outweighs being involved in a pyramid scheme, is what everyone has to ask themselves (and be judged for depending on their answer). You can argue about whether all money is the same in this regard, but there have been hundreds of crypto coins that have failed since the last fiat currency died. permalink fedilink source parent