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One: Thank you for helping rationalize that my Magic The Gathering habit isn't a problem. Two: I know you said >Not going into the whole modern abomination to
by SimbaOnSteroids 8y ago
One: Thank you for helping rationalize that my Magic The Gathering habit isn't a problem.
Two: I know you said
>Not going into the whole modern abomination to strip lesser shareholders of their rights to vote as Google, Facebook, Snap have done with their tiered stocks
However if you want to argue you're problems with crypto (there are many) we need to make arguments using the way things are in the real world.
Given I'm a retail investor. In one universe I place a bet on Snap for 50k. In another I took that same 50k and put it into bitcoin. In both universes my bet goes bad, both asset's price per unit goes to 0. Snap goes through the process of being liquidated. Remember I'm a retail investor, I own common stock.
Now am I better off in one universe over another? I'd argue that I'm not. However if I were Warren Buffet, I'd have been much better off bought Snap as I would have preferred shares.
- sireat 8y agoYou might not be better off in either universe but my reply was regarding difference between buying cryptocurrencies and buying shares. Buying shares is like investing 50k in your Uncle Eddies seashell harvesting venture. In return you receive 50% share in his venture that is you get half of all future seashells harvested by Eddie. Buying cryptocurrencies is like giving 50k USD to your Uncle Eddie and getting some seashells back but that is it! There is an active market for these seashells and price goes up and down. However you do not get to claim any more seashells produced by Uncle Eddie. Buying common shares implies certain rights to some enterprise while buying cryptocurrencies implies nothing.