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When people try to convert me to Bitcoinology now I just smile and in my head I replace [shill token of the day] with “the ponies” as it saves me debating with
by headmelted 5y ago
When people try to convert me to Bitcoinology now I just smile and in my head I replace [shill token of the day] with “the ponies” as it saves me debating with them and we both get to leave with a smile on our face.
“[The ponies] keep making stellar returns year after year. It’s still early to make money on [the ponies]. [The ponies] are the future of wealth.” etc.
“[The ponies] are going to the moon” is my personal favourite, because what a nice thought that is.
Anyway, next time someone asks about cryptocurrency just tell them you already know it’s all about spacefaring horses and wish them well while you walk safely away.
- ZeroGravitas 5y agoThe ponies analogy also brings to mind an old bit of folk wisdom: "You'll never meet a poor bookmaker"
- samhw 5y agoTo wit: https://techcrunch.com/2021/04/14/coinbase-opens-at-381-per-share-valuing-the-crypto-exchange-at-nearly-100b https://techcrunch.com/2021/04/14/coinbase-opens-at-381-per-...
- skinnymuch 5y agoStill true, but to be fair, Coinbase closed that first day lower. I don’t believe Coinbase has ever reached $381 again. It’s back at the $250 reference, even below that right now by a buck. Still a $55B company with an absolute insane profit margin right now.
- samhw 5y agoAh, thank you, I didn't realise that and I appreciate the correction :) And yes, I agree with the main point. $100b was wrong, but Coinbase still overwhelmingly proves the rule: namely that, setting aside the few Bitcoin millionaires who made irrational decisions and got lucky, the croupier is the only guy who goes home richer.
- deleted 5y ago[deleted]