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I normally wouldn't buy a foreclosure for ethical reasons that I'm sure fail to hold water. But if there's a wave following the collapse of Bitcoin, count me in
by thesmallestcat 9y ago
I normally wouldn't buy a foreclosure for ethical reasons that I'm sure fail to hold water. But if there's a wave following the collapse of Bitcoin, count me in. I have zero sympathy for somebody who loses their shirt speculating on fucking Bitcoin.
- tptacek 9y agoWhy? It's a manifestly crazy investment, but why is a mortgage broker on the south side of Chicago expected to have enough innate technical knowledge to qualify Bitcoin as an investment, but not for an NYSE-listed stock? To the overwhelming majority of investors, both are fundamentally opaque instruments; you buy because other people are buying. To me, this indicts Bitcoin's most aggressive promoters, not the investors.
- thesmallestcat 9y agoI guess what I mean is that I can feel for people who got duped into taking out a risky loan for a house they can't really afford. Shelter is something anybody can appreciate. I can't explain going all in on Bitcoin except by a combination of greed and stupidity.
- kamaal 9y ago>>why is a mortgage broker on the south side of Chicago expected to have enough innate technical knowledge to qualify Bitcoin as an investment, but not for an NYSE-listed stock? Nobody should do risky things with systems they don't understand. Accidents can and will happen in these cases. And besides these sort of things happen enough number of times that most people can easily see the 'scary action at a distance' thingy happening here.