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A couple of thoughts: - This would only be the "greatest trade ever" if they actually cash out, i.e. realise the paper profits. The other two examples of "grea
by astoor 5y ago
A couple of thoughts:
- This would only be the "greatest trade ever" if they actually cash out, i.e. realise the paper profits. The other two examples of "greatest trades ever" did realise their profits. There are of course questions as to whether they could in this case.
- Assuming they could cash out and make $5bn, and if they did, who would the losers be? In the case of the George Soros trade, he made his billion at the expense of the British tax payers, who collectively had to pay an extra £3.3 billion taxes, and mortgage payers, who saw their interest rates shoot up to 15%. In this case, presumably it would be all the people who bought SHIB for a higher price than that at which it settles after cashing out, plus everyone else on the planet who suffers from the social, political and environmental fallout from cryptocurrencies. That $5bn would have to come from somewhere.
- dools 5y agoThe choice to tax people anything extra as a result of the Soros operation was a matter of policy, rather than necessity.
- rsj_hn 5y agoThe money does need to come from somewhere, ultimately higher prices for imports, and if the government needs to buy imports, then yeah, taxes go up or spending on other things is cut.
- adventured 5y ago> Assuming they could cash out and make $5bn, and if they did, who would the losers be? Your losers scenario requires that SHIB declines materially after the buyers pick up the $5b of the crypto (such that the buyers inevitably end up losing money). You've built that assumption in and it's incorrect to automatically assume that, it's a central flaw in your premise. There are not losers in every economic transaction in fact. The buyers may end up losing money.
- Icko 5y agoIt's not a zero-sum game. Even if it was, the cost would be carried by the people paying $5bn for a shitcoin. The pollution etc. are just externalities and not necessary.
- VHRanger 5y agoRight , PoW crypto is a negative sum game
- zardo 5y ago> It's not a zero-sum game Yes it is.
- robjan 5y agoA normal trade is not zero-sum
- zardo 5y agoI don't know what a normal trade is. What does it have to do with speculating on crypto coins?
- ootsootsoots 5y agoThere is no root node to the universe People playing mind games does not anchor reality to them
- astoor 5y agoHow can cryptocurrencies not be zero sum? Especially meme coins like SHIB. These are purely speculative devices, have no intrinsic value, and don't lead to the creation of legitimately beneficial products or services, etc. - all they do is consume resources like electricity and people's time.
- ajkdhcb2 5y agoWikileaks gets banned from all payment processors -> accepts bitcoin -> people donated whom would have been otherwise unable -> the censorship resistant technology facilitated democratic values and improved society, which is something valuable Darknet markets are also facilitated, creating very valuable marketplaces. You wouldnt say ebay has no value
- archibaldJ 5y agoor they could just lose their wallet like how I lost mine..
- sunsetMurk 5y agoit's a sad club we're in. Occasionally I even go to bitinfocharts.com and look at my wallet that I will never have access to. Wonderful!
- zs234465234165 5y agoWhat kinda figures are we talking about here? :)
- matheusmoreira 5y ago> who would the losers be? Anyone holding USD.