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Without commenting specifically on crypto, I’d say that any kind of financial speculation is a cut-throat endeavor and taking any media reports at face value is

Without commenting specifically on crypto, I’d say that any kind of financial speculation is a cut-throat endeavor and taking any media reports at face value is foolish without doing your own research and using your gut. Big players FUD the assets they want to buy cheaply, and hype up the bags they want to get rid of. This has been going on online even before crypto was invented.

abrichr 4y ago
This seems logical from first principles. What hard evidence do we have to confirm this is the case?
- logicalmonster 4y ago
  > hard evidence Most people in the business are smart. And smart people generally don't line up to be explicit about manipulating the market and committing possible crimes when it can come back to bite them. Luckily, despite his best attempts to remove many copies of this video from the Internet, we have Jim Cramer on deck. https://www.youtube.com/watch?v=jIfixbq_u0Q https://www.youtube.com/watch?v=jIfixbq_u0Q https://www.youtube.com/watch?v=8RkqzRs95Sc https://www.youtube.com/watch?v=8RkqzRs95Sc Also, as a general rule, it just pays to understand the following: > With few exceptions, the entire media is shit and barely understands the topics they cover. It is easy for smart people to manipulate them. > Access journalism is widely practiced. > There's literally millions/billions/trillions of dollars at stake. In this environment, it's close to a complete metaphysical certainty that media manipulation to profit occurs.
dogma1138 4y ago
They aren’t called market makers for no reason, but it’s also not as simple as you make it out to be. They can have impact on the trend however the market can only be controlled to an extent. When the shit hits the fan everyone loses money the problem is that the bailout tends to be rather selective. And there is no easy way out of this cycle either. It’s easy to say just don’t bail them out but you are also bailing millions of people who stand to completely lose their life savings, pensions and jobs and so the cycle repeats. If we want to dissuade unadulterated greed we first need to find a solution of how to effectively finance those who are no longer economically productive.
- logicalmonster 4y ago
  You bring up some interesting opinions on the greater economy that are worthy of debate and discussion, but I'm not sure how a lot of them are super relevant to the general point made. As far as your opinion that everybody loses money when the market goes down, well, that's not exactly true. There are numerous financial instruments possible where you can make more money when some asset goes down. I'm not sure that dissuading greed is either a possible or desirable goal. The economy works, and resources are created and flow, precisely because the motive to benefit yourself exists. Every voluntary trade is entered into because everybody values what they get more than what they give up. As far as those who are no longer economically productive, there's a lot that can be said about that, starting with an observation that there are people that never have been economically productive and never will be economically productive.

abrichr 4y ago

This seems logical from first principles. What hard evidence do we have to confirm this is the case?

logicalmonster 4y ago
> hard evidence Most people in the business are smart. And smart people generally don't line up to be explicit about manipulating the market and committing possible crimes when it can come back to bite them. Luckily, despite his best attempts to remove many copies of this video from the Internet, we have Jim Cramer on deck. https://www.youtube.com/watch?v=jIfixbq_u0Q https://www.youtube.com/watch?v=jIfixbq_u0Q https://www.youtube.com/watch?v=8RkqzRs95Sc https://www.youtube.com/watch?v=8RkqzRs95Sc Also, as a general rule, it just pays to understand the following: > With few exceptions, the entire media is shit and barely understands the topics they cover. It is easy for smart people to manipulate them. > Access journalism is widely practiced. > There's literally millions/billions/trillions of dollars at stake. In this environment, it's close to a complete metaphysical certainty that media manipulation to profit occurs.

dogma1138 4y ago

They aren’t called market makers for no reason, but it’s also not as simple as you make it out to be. They can have impact on the trend however the market can only be controlled to an extent. When the shit hits the fan everyone loses money the problem is that the bailout tends to be rather selective. And there is no easy way out of this cycle either. It’s easy to say just don’t bail them out but you are also bailing millions of people who stand to completely lose their life savings, pensions and jobs and so the cycle repeats. If we want to dissuade unadulterated greed we first need to find a solution of how to effectively finance those who are no longer economically productive.

logicalmonster 4y ago
You bring up some interesting opinions on the greater economy that are worthy of debate and discussion, but I'm not sure how a lot of them are super relevant to the general point made. As far as your opinion that everybody loses money when the market goes down, well, that's not exactly true. There are numerous financial instruments possible where you can make more money when some asset goes down. I'm not sure that dissuading greed is either a possible or desirable goal. The economy works, and resources are created and flow, precisely because the motive to benefit yourself exists. Every voluntary trade is entered into because everybody values what they get more than what they give up. As far as those who are no longer economically productive, there's a lot that can be said about that, starting with an observation that there are people that never have been economically productive and never will be economically productive.