6 ms·

The good times made crazy people look smart and the bad times are making crazy people look like idiots.

by grensley 4y ago

Animats 4y ago
Yes. Go find the video "Line Goes Up", which covers this issue at length.
- djbusby 4y ago
  The Video https://m.youtube.com/watch?v=YQ_xWvX1n9g https://m.youtube.com/watch?v=YQ_xWvX1n9g
dylan604 4y ago
I keep seeing these headlines, and I keep really trying to feel sorry for these people that are potentially loosing their arses. However, I just can't get there. NFTs are the ones I'm really LOLing about vs the currency plays, but since the currencies are failing too, it just kind reveals the house of straw the whole thing truly is.
- TedDoesntTalk 4y ago
  Empathy for people worse off than you, even for people who you think make bad decisions, is not hard. Think of someone you care for unconditionally, maybe your child, and imagine that person suffering through this because of poor decision. Would you castigate him or try to soothe him?
  - hanniabu 4y ago
    I would say that sucks but you were warned multiple times and still did it anyways so now you must deal with the repercussions
    - TedDoesntTalk 4y ago
      Yes, true. But If can still feel empathy for that person you love, for what he’s going through.
      - dylan604 4y ago
        Nope, I think you have sympathy and empathy confused. I can sympathize with them because losing your arse sucks. Been there, done that. I can't empathize with them as I've just never been in that situation, nor would I ever put myself in that situation. I've been on my arse before, but because of other things mostly out of my control. Investing in a scam after being advised not to is not the same thing.
  - elevaet 4y ago
    If it was my kid, both. Only soothing or only castigating would miss the opportunity to teach and learn. With a balance you can move forward and grow.
  - dylan604 4y ago
    If it was a young child where parental guidance is effective, then they probably would not be old enough to be investing in a scam. If they are old enough to be investing in a scam and discussed it with me as their parent, I would have 100% advised against the investment. If they said "shut it boomer, you just don't understand tech", then I'd naturally laugh and let them enjoy the reaping of what they sowed. If there are grandkids involved, then they can come stay with me while their deadbeat parent deals with their shit. At some point, the kid has to become an adult.
adam_arthur 4y ago
Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time By inspecting the growth mechanism of the company. Amount of leverage, yield on investments relative to risks, assumptions about future growth, management commentary etc. Unfortunately for investors in FTX, they had no visibility or regulations/protections against their deposits being stolen
- junofan 4y ago
  FTX’s exchange business is regulated by the Securities Commission of the Bahamas.
  - adam_arthur 4y ago
    Sounds trustworthy
  - digianarchist 4y ago
    They haven't even published anything on the FTX debacle: https://www.scb.gov.bs/news/ https://www.scb.gov.bs/news/
    - digianarchist 4y ago
      Looks like they've stepped up. > FTX assets frozen by Bahamas regulator as crypto exchange fights to survive https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35eca https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35...
- djbusby 4y ago
  You all about the fundamentals. <3
- eru 4y ago
  > Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time > By inspecting the growth mechanism of the company. Amount of leverage, yield on investments relative to risks, assumptions about future growth, management commentary etc. Why waste your time like that? Just buy an index fund. > Unfortunately for investors in FTX, they had no visibility or regulations/protections against their deposits being stolen Even more important, short sellers couldn't correct the price, I guess?

The good times made crazy people look smart and the bad times are making crazy people look like idiots.

Animats 4y ago

Yes. Go find the video "Line Goes Up", which covers this issue at length.

djbusby 4y ago
The Video https://m.youtube.com/watch?v=YQ_xWvX1n9g https://m.youtube.com/watch?v=YQ_xWvX1n9g

dylan604 4y ago

I keep seeing these headlines, and I keep really trying to feel sorry for these people that are potentially loosing their arses. However, I just can't get there. NFTs are the ones I'm really LOLing about vs the currency plays, but since the currencies are failing too, it just kind reveals the house of straw the whole thing truly is.

TedDoesntTalk 4y ago
Empathy for people worse off than you, even for people who you think make bad decisions, is not hard. Think of someone you care for unconditionally, maybe your child, and imagine that person suffering through this because of poor decision. Would you castigate him or try to soothe him?
- hanniabu 4y ago
  I would say that sucks but you were warned multiple times and still did it anyways so now you must deal with the repercussions
  - TedDoesntTalk 4y ago
    Yes, true. But If can still feel empathy for that person you love, for what he’s going through.
    - dylan604 4y ago
      Nope, I think you have sympathy and empathy confused. I can sympathize with them because losing your arse sucks. Been there, done that. I can't empathize with them as I've just never been in that situation, nor would I ever put myself in that situation. I've been on my arse before, but because of other things mostly out of my control. Investing in a scam after being advised not to is not the same thing.
- elevaet 4y ago
  If it was my kid, both. Only soothing or only castigating would miss the opportunity to teach and learn. With a balance you can move forward and grow.
- dylan604 4y ago
  If it was a young child where parental guidance is effective, then they probably would not be old enough to be investing in a scam. If they are old enough to be investing in a scam and discussed it with me as their parent, I would have 100% advised against the investment. If they said "shut it boomer, you just don't understand tech", then I'd naturally laugh and let them enjoy the reaping of what they sowed. If there are grandkids involved, then they can come stay with me while their deadbeat parent deals with their shit. At some point, the kid has to become an adult.

adam_arthur 4y ago

Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time By inspecting the growth mechanism of the company. Amount of leverage, yield on investments relative to risks, assumptions about future growth, management commentary etc. Unfortunately for investors in FTX, they had no visibility or regulations/protections against their deposits being stolen

junofan 4y ago
FTX’s exchange business is regulated by the Securities Commission of the Bahamas.
- adam_arthur 4y ago
  Sounds trustworthy
- digianarchist 4y ago
  They haven't even published anything on the FTX debacle: https://www.scb.gov.bs/news/ https://www.scb.gov.bs/news/
  - digianarchist 4y ago
    Looks like they've stepped up. > FTX assets frozen by Bahamas regulator as crypto exchange fights to survive https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35eca https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35...
djbusby 4y ago
You all about the fundamentals. <3
eru 4y ago
> Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time > By inspecting the growth mechanism of the company. Amount of leverage, yield on investments relative to risks, assumptions about future growth, management commentary etc. Why waste your time like that? Just buy an index fund. > Unfortunately for investors in FTX, they had no visibility or regulations/protections against their deposits being stolen Even more important, short sellers couldn't correct the price, I guess?