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It's funny how Bitcoin advocates say "widen the chart" to point to the rise since 2012, like that's the slope it will keep rising at. Sure, if my great-grandfat

It's funny how Bitcoin advocates say "widen the chart" to point to the rise since 2012, like that's the slope it will keep rising at. Sure, if my great-grandfather bought General Motors in 1908 I might be filthy rich now, but does that make GM a good investment today?

rawtxapp 5y ago
No need to go until 2012, Bitcoin price has been above current price for only like 6 months in it's whole existence. So if you bought at anytime outside of those 6 months, you're in the green.
nexuist 5y ago
There are plenty of investors who believe dumping your money into a stable company like GM would be better than speculative startups like Tesla or Rivian...isn't this typical risk-averse advice? The status quo is that GM is a good investment. They're probably not going bankrupt tomorrow.
- throw0101a 5y ago
  > The status quo is that GM is a good investment. They're probably not going bankrupt tomorrow. Well: * https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reor... * https://www.reuters.com/article/us-autos-gm-treasury-idUSBREA3T0MR20140430 https://www.reuters.com/article/us-autos-gm-treasury-idUSBRE... * https://www.cbc.ca/news/politics/loans-canada-account-finance-auto-sector-bailout-2009-gm-chrysler-1.4722529 https://www.cbc.ca/news/politics/loans-canada-account-financ...
  - nexuist 5y ago
    I guess I'll rephrase and say that they're probably not ending tomorrow, because of the historical precedent the Fed set when they bailed them out. What's a few hundred billion dollars between friends?
    - throw0101a 5y ago
      The Fed did not bail them, Congress did. As did the Canadian government (and not the Bank of Canada). Politicians decided that GM going bankrupt would be too disruptive, especially since it occurred during the already turmoil-filled 2008-2009 timeframe.
    - SilasX 5y ago
      Technically, the -2008 General Motors doesn't legally exist anymore, all the assets (including brand) were transferred to the restructured org.
selectodude 5y ago
>Sure, if my great-grandfather bought General Motors in 1908 I might be filthy rich now. Heh, you'd actually have been wiped out in 2009.
- dopamean 5y ago
  How much did GM pay in dividends between 1908 and 2009?

rawtxapp 5y ago

No need to go until 2012, Bitcoin price has been above current price for only like 6 months in it's whole existence. So if you bought at anytime outside of those 6 months, you're in the green.

nexuist 5y ago

There are plenty of investors who believe dumping your money into a stable company like GM would be better than speculative startups like Tesla or Rivian...isn't this typical risk-averse advice? The status quo is that GM is a good investment. They're probably not going bankrupt tomorrow.

throw0101a 5y ago
> The status quo is that GM is a good investment. They're probably not going bankrupt tomorrow. Well: * https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reor... * https://www.reuters.com/article/us-autos-gm-treasury-idUSBREA3T0MR20140430 https://www.reuters.com/article/us-autos-gm-treasury-idUSBRE... * https://www.cbc.ca/news/politics/loans-canada-account-finance-auto-sector-bailout-2009-gm-chrysler-1.4722529 https://www.cbc.ca/news/politics/loans-canada-account-financ...
- nexuist 5y ago
  I guess I'll rephrase and say that they're probably not ending tomorrow, because of the historical precedent the Fed set when they bailed them out. What's a few hundred billion dollars between friends?
  - throw0101a 5y ago
    The Fed did not bail them, Congress did. As did the Canadian government (and not the Bank of Canada). Politicians decided that GM going bankrupt would be too disruptive, especially since it occurred during the already turmoil-filled 2008-2009 timeframe.
  - SilasX 5y ago
    Technically, the -2008 General Motors doesn't legally exist anymore, all the assets (including brand) were transferred to the restructured org.

selectodude 5y ago

>Sure, if my great-grandfather bought General Motors in 1908 I might be filthy rich now. Heh, you'd actually have been wiped out in 2009.

dopamean 5y ago
How much did GM pay in dividends between 1908 and 2009?