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celebrating the downfall of strangers especially when the majority losing out are ignorant and were just trying to find some way to retire from their meaningles

celebrating the downfall of strangers especially when the majority losing out are ignorant and were just trying to find some way to retire from their meaningless wage slaving is not a good look. Sure some of them were pretty unpleasant but to yearn for their downfall is a you problem my friend, not a them problem. I have no dog in this fight, have maybe 2k in crypto which is not a lot. Anyway all the best and hope you learn to find joy outside of the misery of others.

gigatexal 4y ago
If it’s too good to be true it likely is. Get rich quick schemes also are part of this mantra … didn’t their parents teach them that?
- haswell 4y ago
  Is your conclusion then “they had it coming”? Does this somehow justify or validate the schadenfreude? A country adopted crypto as their actual currency. Some retirement accounts started providing crypto as an investment option. Involvement in crypto does not automatically imply that involvement was just to “get rich quick”. For many people, it was a new investment that they didn’t really understand, similar to many of their existing investments that they didn’t really understand. You seem to be implying that anyone involved should have known better, but this seems like a tenuous claim at best. Do you feel the same about people losing their money in the stock market? Why or why not?
  - gigatexal 4y ago
    So we should coddle and protect everyone from everything? The central bank should make every Bitcoin “investor” whole? If a company goes public gets investors and then goes bankrupt because of illegal practices and it’s shown it duped investors there is recourse. If a bank goes under the assets are FDIC insured. If you “invest” in the next big revolutionary currency that will upend everything and it falls some 60 to 70% from its highs is it really a currency or a stock or a wildly speculative possibly ponzi-style scheme? So yes folks should know the risks. There’s no historical precedent for any of this. It’s always been volatile and if you wanna stay in it know you might lose your shirt. But investing for the long term is a function of time and compounding interest. On average the US stock indexes have returned some 8% or more, again on average, for the last day 50 years or something along those lines. Consistent investing day every month for years and years will see things grow. Buying when things go down and as they rise - dollar cost averaging — is a fine and prudent way to put money aside and see it grow. But to think folks could just “invest” in Bitcoin and become millionaires — maybe — but also don’t bet the farm on it if you’re a farmer.
    - haswell 4y ago
      > So we should coddle and protect everyone from everything? The central bank should make every Bitcoin “investor” whole? Woah, you've jumped to something else entirely here. No, we shouldn't. Not what I was suggesting. Nor is coddling the opposite of ridiculing and openly sharing one's pleasure at the financial pain people are now going through, yes, by their own fault. My issue was only with the schadenfreude.
shrimp_emoji 4y ago
>and were just trying to find some way to retire from their meaningless wage slaving Read: were hoping their laziness could be terminally subsidized by bigger fools' money (because the value they cashed out of the system was put in by others), presumably without being bothered that they condemn those bigger fools to additional meaningless wage slaving. (With the added externality of an extra Sweden's worth of electricity.)

gigatexal 4y ago

If it’s too good to be true it likely is. Get rich quick schemes also are part of this mantra … didn’t their parents teach them that?

haswell 4y ago
Is your conclusion then “they had it coming”? Does this somehow justify or validate the schadenfreude? A country adopted crypto as their actual currency. Some retirement accounts started providing crypto as an investment option. Involvement in crypto does not automatically imply that involvement was just to “get rich quick”. For many people, it was a new investment that they didn’t really understand, similar to many of their existing investments that they didn’t really understand. You seem to be implying that anyone involved should have known better, but this seems like a tenuous claim at best. Do you feel the same about people losing their money in the stock market? Why or why not?
- gigatexal 4y ago
  So we should coddle and protect everyone from everything? The central bank should make every Bitcoin “investor” whole? If a company goes public gets investors and then goes bankrupt because of illegal practices and it’s shown it duped investors there is recourse. If a bank goes under the assets are FDIC insured. If you “invest” in the next big revolutionary currency that will upend everything and it falls some 60 to 70% from its highs is it really a currency or a stock or a wildly speculative possibly ponzi-style scheme? So yes folks should know the risks. There’s no historical precedent for any of this. It’s always been volatile and if you wanna stay in it know you might lose your shirt. But investing for the long term is a function of time and compounding interest. On average the US stock indexes have returned some 8% or more, again on average, for the last day 50 years or something along those lines. Consistent investing day every month for years and years will see things grow. Buying when things go down and as they rise - dollar cost averaging — is a fine and prudent way to put money aside and see it grow. But to think folks could just “invest” in Bitcoin and become millionaires — maybe — but also don’t bet the farm on it if you’re a farmer.
  - haswell 4y ago
    > So we should coddle and protect everyone from everything? The central bank should make every Bitcoin “investor” whole? Woah, you've jumped to something else entirely here. No, we shouldn't. Not what I was suggesting. Nor is coddling the opposite of ridiculing and openly sharing one's pleasure at the financial pain people are now going through, yes, by their own fault. My issue was only with the schadenfreude.

shrimp_emoji 4y ago

>and were just trying to find some way to retire from their meaningless wage slaving Read: were hoping their laziness could be terminally subsidized by bigger fools' money (because the value they cashed out of the system was put in by others), presumably without being bothered that they condemn those bigger fools to additional meaningless wage slaving. (With the added externality of an extra Sweden's worth of electricity.)