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You see, my problem with crypto is that it’s value hinges entirely on convincing other suckers people to buy it.

by Aeolun 2y ago

You see, my problem with crypto is that it’s value hinges entirely on convincing other ~~suckers~~ people to buy it.

otteromkram 2y ago
So does everything else. ¯\_(ツ)_/¯
- forgetfreeman 2y ago
  Nah. Intrinsic value is absolutely a thing.
  - tssge 2y ago
    Which of course is different than the market price of an asset. You can't say sell something at intrinsic value if the market thinks differently.
    - forgetfreeman 2y ago
      Yeah and while the market can't seem to make up it's mind about crypto it appears to have a pretty solid grasp on the concept of a loaf of bread...
yieldcrv 2y ago
Okay, but this woman didn’t own crypto, she owned an app that says she owned crypto in an exchange/brokerage That has nothing to do with crypto and everything to do with this fake exchange scam, and even with a real exchange it has to do with consumer education on using non custodial apps It’s downright weird that you have this other mental category for things that say crypto where your mental processing power throttled to the conclusion is “its crypto so let me blame the victim instead and ignore who chose to create a victim while they sent her death threats on whatsapp”
- Aeolun 2y ago
  It’s more that the closer you get to crypto, the closer you get to something being a scam. If you are close enough to it that you think to invest 5M in it, I expect you to be aware of that. People do more due due dilligence when buying a washing machine. Obviously it sucks for the lady, but to some extend it certainly deserves a financial darwin award.
  - yieldcrv 2y ago
    Your lack of nuance about “crypto” and predilection of blaming victims is toxic. That sector has plenty of things that follow the expected social contract of all parties, which can and does support balances of $4 million and far higher. Your unwillingness to see that is not really a productive conversation here, although you’re in like company right now on this forum, you shouldn't be.

You see, my problem with crypto is that it’s value hinges entirely on convincing other ~~suckers~~ people to buy it.

by Aeolun 2y ago

You see, my problem with crypto is that it’s value hinges entirely on convincing other ~~suckers~~ people to buy it.

otteromkram 2y ago

So does everything else. ¯\_(ツ)_/¯

forgetfreeman 2y ago
Nah. Intrinsic value is absolutely a thing.
- tssge 2y ago
  Which of course is different than the market price of an asset. You can't say sell something at intrinsic value if the market thinks differently.
  - forgetfreeman 2y ago
    Yeah and while the market can't seem to make up it's mind about crypto it appears to have a pretty solid grasp on the concept of a loaf of bread...

yieldcrv 2y ago

Okay, but this woman didn’t own crypto, she owned an app that says she owned crypto in an exchange/brokerage That has nothing to do with crypto and everything to do with this fake exchange scam, and even with a real exchange it has to do with consumer education on using non custodial apps It’s downright weird that you have this other mental category for things that say crypto where your mental processing power throttled to the conclusion is “its crypto so let me blame the victim instead and ignore who chose to create a victim while they sent her death threats on whatsapp”

Aeolun 2y ago
It’s more that the closer you get to crypto, the closer you get to something being a scam. If you are close enough to it that you think to invest 5M in it, I expect you to be aware of that. People do more due due dilligence when buying a washing machine. Obviously it sucks for the lady, but to some extend it certainly deserves a financial darwin award.
- yieldcrv 2y ago
  Your lack of nuance about “crypto” and predilection of blaming victims is toxic. That sector has plenty of things that follow the expected social contract of all parties, which can and does support balances of $4 million and far higher. Your unwillingness to see that is not really a productive conversation here, although you’re in like company right now on this forum, you shouldn't be.