4 ms·

Not that dissimilar from unfettered options trading on mass-market brokerage apps like Robinhood...

mistrial9 3y ago
Why is the Silicon Valley Bank sign still on the rotunda on Market Street ? btw
smt88 3y ago
As far as I've read, it's psychologically identical. The scary thing about financial gambling like options-, day-, or forex-trading is that they seem respectable. Laypeople don't usually know that the person is gambling, and some people even think of it as a legitimate job.
- Terr_ 3y ago
  That reminds me of a book quote I saw today, reproduced within another work about financial fraud. ("Lying for Money".) > For the most part, it was based on two simple truths: first, that a majority of the richest one percent of Americans are closet degenerate gamblers, who can't withstand the temptation to keep rolling the dice again and again, even if they know the dice are loaded against them; and, second, that contrary to previous assumptions, young men and women who possess the collective social graces of a herd of sex-crazed water buffalo and have an intelligence quotient in the range of Forrest Gump on three hits of acid, can be taught to sound like Wall Street wizards [...] -- The Wolf of Wall Street
sarchertech 3y ago
There are similarities, but figuring out options trading on Robinhood is significantly more difficult. And I’m not bombarded with ads for options trading dozens of times per football game.
darth_avocado 3y ago
Or crypto
goles 3y ago
Cryptocurrency trading & high risk stocks was part of the dataset of the study[1]. They also compare it to other gambling activities and risk groups further down. [1](pdf)https://socialwork.rutgers.edu/sites/default/files/2023-10/Prevalence_Report_2023_Final.pdf https://socialwork.rutgers.edu/sites/default/files/2023-10/P...
cf1241290841 3y ago
There is also an argument to be made that actual gambling has less of a negative social impact. Having been bored during the pandemic and gotten myself some gambling tokens at a brokerage site it turned out that i almost kinda funded some pretty severe human rights violations. Drones dropping grenades and mortar shells on indigenous people with bow and arrow type of stuff https://www.youtube.com/watch?v=nSf3268tAbg https://www.youtube.com/watch?v=nSf3268tAbg Maybe check your portfolio for Freeport-McMoRan Funnily enough, the youtuber that made the video also had his house fire bombed by organized crime for reporting on Australias gambling industry. edit: Picture of drone in question https://twitter.com/jmscaronte/status/1426514097617752066 https://twitter.com/jmscaronte/status/1426514097617752066

Why is the Silicon Valley Bank sign still on the rotunda on Market Street ? btw

As far as I've read, it's psychologically identical. The scary thing about financial gambling like options-, day-, or forex-trading is that they seem respectable. Laypeople don't usually know that the person is gambling, and some people even think of it as a legitimate job.

Terr_ 3y ago
That reminds me of a book quote I saw today, reproduced within another work about financial fraud. ("Lying for Money".) > For the most part, it was based on two simple truths: first, that a majority of the richest one percent of Americans are closet degenerate gamblers, who can't withstand the temptation to keep rolling the dice again and again, even if they know the dice are loaded against them; and, second, that contrary to previous assumptions, young men and women who possess the collective social graces of a herd of sex-crazed water buffalo and have an intelligence quotient in the range of Forrest Gump on three hits of acid, can be taught to sound like Wall Street wizards [...] -- The Wolf of Wall Street

sarchertech 3y ago

There are similarities, but figuring out options trading on Robinhood is significantly more difficult. And I’m not bombarded with ads for options trading dozens of times per football game.

darth_avocado 3y ago

Or crypto

goles 3y ago

Cryptocurrency trading & high risk stocks was part of the dataset of the study[1]. They also compare it to other gambling activities and risk groups further down. [1](pdf)https://socialwork.rutgers.edu/sites/default/files/2023-10/Prevalence_Report_2023_Final.pdf https://socialwork.rutgers.edu/sites/default/files/2023-10/P...

cf1241290841 3y ago

There is also an argument to be made that actual gambling has less of a negative social impact. Having been bored during the pandemic and gotten myself some gambling tokens at a brokerage site it turned out that i almost kinda funded some pretty severe human rights violations. Drones dropping grenades and mortar shells on indigenous people with bow and arrow type of stuff https://www.youtube.com/watch?v=nSf3268tAbg https://www.youtube.com/watch?v=nSf3268tAbg Maybe check your portfolio for Freeport-McMoRan Funnily enough, the youtuber that made the video also had his house fire bombed by organized crime for reporting on Australias gambling industry. edit: Picture of drone in question https://twitter.com/jmscaronte/status/1426514097617752066 https://twitter.com/jmscaronte/status/1426514097617752066