5 ms·

This makes me think that, for some people, gambling may be addictive.

by vcryan 4y ago

labrador 4y ago
So that's where all those stupid fuddy duddy quotes by old fogies came from like "a fool and his money are soon parted", "not all that gleams is gold" and "there's a sucker born every minute", but what do those old jerks know. We live in the modern age!
- temp_praneshp 4y ago
  Careful, you'll get called boomer for quoting those phrases.
  - labrador 4y ago
    But I am a boomer, but I have to keep explaining to my younger friends that I'm one of the good ones, lol. I've been an environmentalist since I attended the first Earth Day in 1972 yadda yadda
- filoleg 4y ago
  Imo for those people, it is less about the argument of "we live in the modern age, things are different now", and more like "a fool and his money are soon parted[, and i will be the one on the winning side of this partition, not the losing one]" and "there is a sucker born every minute[, but that's not me]". I.e., it isn't about them believing that modern times are different, it is about them believing that they are the ones above the cut, an exception from the average masses, the kind that can thrive in such landscape. Which is the same core premise that's been funding those types of gambles since forever ago.
galaxytachyon 4y ago
The problem is a bit deeper than just addiction. It is manipulation and social engineering of a young and exploitable group. This is the new kind of scam and many people are ill-equipped to deal with them, just like how some people were weak to nigerian prince scams once upon a time. When people sincerely said something like: "I have crypto and tesla stocks, I am rich and don't need to work", there are more problems to solve than just gambling addiction.
- deleted 4y ago
  [deleted]
- sneak 4y ago
  I think the correct way to frame this is that a foolish person squandered their money (something that happens every day in every country) rather than a young, impressionable would-be victim got sucked in by predatory messaging. Otherwise we have to close all the Louis Vuitton stores. They didn't get scammed, they just blew all their cash. Adults are allowed to do stupid things with their money, it's almost never a crime (nor a tragedy) when it happens.
  - galaxytachyon 4y ago
    As a society, we should look out for the vulnerable part of our population. The example with high fashion brands is on point though, but I also absolutely detest paying extra to have a logo on my stuff so it doesn't really resonate with me. High fashion is also marketed toward specific classes of people, those with the means and ability to afford them. Meme stocks and cryptos are geared toward small retail traders who don't really have much in the first place. One of these will cause more damage than the other to its targets.
    - sneak 4y ago
      > Meme stocks and cryptos are geared toward small retail traders who don't really have much in the first place. I don't know anyone blowing money on meme stocks or sketchy cryptos that isn't also blowing money on equally wasteful designer "fashion". I don't think they are "geared toward" anyone or anything.
    - jazzyjackson 4y ago
      > those with the means and ability to afford them. * those who want to appear to have the means and ability to afford them.
    - lytefm 4y ago
      > As a society, we should look out for the vulnerable part of our population. Having read a bit about the neuropsychology of gambling addiction, I agree. Slot machines are specifically designed to turn those who are susceptible to it into addicts. Some people simply don't have the mental capabilities to distinguish a legit investment from a scam. Maybe some kind of authorization should be required if you try to wire your life savings to a crypto exchange. But banks only ever ask questions if a lot of money comes in, not when it flows out :D

This makes me think that, for some people, gambling may be addictive.

by vcryan 4y ago

This makes me think that, for some people, gambling may be addictive.

So that's where all those stupid fuddy duddy quotes by old fogies came from like "a fool and his money are soon parted", "not all that gleams is gold" and "there's a sucker born every minute", but what do those old jerks know. We live in the modern age!

temp_praneshp 4y ago
Careful, you'll get called boomer for quoting those phrases.
- labrador 4y ago
  But I am a boomer, but I have to keep explaining to my younger friends that I'm one of the good ones, lol. I've been an environmentalist since I attended the first Earth Day in 1972 yadda yadda
filoleg 4y ago
Imo for those people, it is less about the argument of "we live in the modern age, things are different now", and more like "a fool and his money are soon parted[, and i will be the one on the winning side of this partition, not the losing one]" and "there is a sucker born every minute[, but that's not me]". I.e., it isn't about them believing that modern times are different, it is about them believing that they are the ones above the cut, an exception from the average masses, the kind that can thrive in such landscape. Which is the same core premise that's been funding those types of gambles since forever ago.

galaxytachyon 4y ago

The problem is a bit deeper than just addiction. It is manipulation and social engineering of a young and exploitable group. This is the new kind of scam and many people are ill-equipped to deal with them, just like how some people were weak to nigerian prince scams once upon a time. When people sincerely said something like: "I have crypto and tesla stocks, I am rich and don't need to work", there are more problems to solve than just gambling addiction.

deleted 4y ago
[deleted]
sneak 4y ago
I think the correct way to frame this is that a foolish person squandered their money (something that happens every day in every country) rather than a young, impressionable would-be victim got sucked in by predatory messaging. Otherwise we have to close all the Louis Vuitton stores. They didn't get scammed, they just blew all their cash. Adults are allowed to do stupid things with their money, it's almost never a crime (nor a tragedy) when it happens.
- galaxytachyon 4y ago
  As a society, we should look out for the vulnerable part of our population. The example with high fashion brands is on point though, but I also absolutely detest paying extra to have a logo on my stuff so it doesn't really resonate with me. High fashion is also marketed toward specific classes of people, those with the means and ability to afford them. Meme stocks and cryptos are geared toward small retail traders who don't really have much in the first place. One of these will cause more damage than the other to its targets.
  - sneak 4y ago
    > Meme stocks and cryptos are geared toward small retail traders who don't really have much in the first place. I don't know anyone blowing money on meme stocks or sketchy cryptos that isn't also blowing money on equally wasteful designer "fashion". I don't think they are "geared toward" anyone or anything.
  - jazzyjackson 4y ago
    > those with the means and ability to afford them. * those who want to appear to have the means and ability to afford them.
  - lytefm 4y ago
    > As a society, we should look out for the vulnerable part of our population. Having read a bit about the neuropsychology of gambling addiction, I agree. Slot machines are specifically designed to turn those who are susceptible to it into addicts. Some people simply don't have the mental capabilities to distinguish a legit investment from a scam. Maybe some kind of authorization should be required if you try to wire your life savings to a crypto exchange. But banks only ever ask questions if a lot of money comes in, not when it flows out :D