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I'm glad that a long overdue reality check is coming. But I'm incredibly sad that many, many small fish will lose their entire life's savings in the hours and d
by joezydeco 4y ago
I'm glad that a long overdue reality check is coming. But I'm incredibly sad that many, many small fish will lose their entire life's savings in the hours and days and weeks ahead. I've already seen random social media postings of attempted suicides, or talk of it. We will lose actual human beings in this.
And, what's worse, is that the real grifters and crooks will walk away clean once again. There isn't enough time or justice in this universe to nail them all and that's a crime in itself.
- quickthrowman 4y agoI blame Congress and the SEC, they’ve had plenty of time to regulate the crypto casino but they have not done so. Now people will suffer.
- sudden_dystopia 4y agoThen why is the stock market crashing? This has nothing to do specifically with crypto and everything to do with rising interest rates among other macroeconomic factors.
- codyswann 4y agoBut wasn't that the big pull of crypto? Decentralized, unregulated, blah, blah, blah?
- paxys 4y agoI blame human greed. People were falling for scams as far back as recorded history, they are falling for them today, and they will continue to do so forever.
- bobro 4y agowhat would they do to regulate it?
- spaetzleesser 4y ago“And, what's worse, is that the real grifters and crooks will walk away clean once again. “ It’s always the little guys who lose their shirts. The big guys who caused the problems get celebrated.
- bendtheblock 4y agoSo true. Yes there are a minority making huge sums of money in crypto but most are young or naive people putting in savings they need and HODLing this trash until it sinks.
- deleted 4y ago[deleted]
- superjan 4y agoThe crash is terrible for many people. But isn’t the alternative that the casino continues and even more people are ruined?
- fullstop 4y agoMy 401k doesn't look that different from the crypto space at the moment.
- Breza 4y agoMy retirement funds are heavily invested in the stock market and I haven't lost nearly as much value as Bitcoin et al. And I'm convinced the stock market will recover in the next thirty years before I retire.
- onlyrealcuzzo 4y ago> We will lose actual human beings in this. There will always be people trying to scam people, and always people who get scammed. It's hard to feel bad about an inevitability. I get it if it's someone you personally know - but otherwise - it's just how the world works. It's like getting sad when a cheetah catches a gazelle.
- ISL 4y agoIt is different. People scamming people is like cheetahs engaging in cannibalism. Cheetahs, generally, are likely to be opposed. As long as there are sufficient prey/resources to go around, there is no intrinsic need for cheetahs to eat cheetahs.
- onlyrealcuzzo 4y agoOkay - that's cheetahs. Humans have an intrinsic need to scam other humans. It's been happening since the beginning of written history. If we're trying to blame modern technology for a rise in scams - that seems misguided. It's better to just acknowledge that you need to be on your toes for scams from other humans. Some people are gonna fall for the scams - it's inevitable.
- babypuncher 4y ago> Humans have an intrinsic need to scam other humans. I reject this hypothesis; only assholes have an intrinsic need to scam other humans. And rather than accept this as an inevitability, the assholes should be regulated and ostracized to the point where their impact on humanity is negligible.
- onlyrealcuzzo 4y agoWe've tried that - assholes are determined. As I said - if not crypto, it would be something else. Beanie babies, pokemon cards, ocean front property in Arizona, etc