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XBX_X on scored.co
1 year ago4 points(+0/-0/+4Score on mirror)1 child
I'm still shopping for stocks and came across this little curiosity. Goldman's stock jump nearly $100 that week and it's those events that I like to investigate to understand the markets better. "WTF happened there," I thought. Then I noticed that it happened in November, a bloodbath month for crypto. Every November, the crypto markets tank. Hard.
So my first thought was to go see historical pricing for that week and, sure enough, crypto was getting decimated and banking stocks were leaping over the Moon. As most know, these banks have taken billion-dollar stakes in crypto, enticing quite a few more people to "take them seriously" and "invest" their money into them ... just to get rug pulled by those banks and their micro-second supercomputers.
Remember, [Pump-and-Dump schemes](https://www.investopedia.com/terms/p/pumpanddump.asp) are very, very illegal ... with stocks. This is why banks have been running marketing campaigns to get the public to think of crypto coins as a version of stocks. Anyhow, crypto isn't a "passive investment," it's a crapshoot where you're literally waiting 24 to 48 hours to pull out ahead before the next dump. Some guys buy cheap "shitcoins" worth pennies and pull out a penny or two ahead, others buy more "mainline" coins to pull out a few nickels and quarters ahead. Repeat that process enough times and you come out with a few dollars over time. Maybe in a day, maybe in a week, but it's NOT a passive activity. Nobody will EVER convince me that crypto isn't a HUGE scam!
It's all digital money. Paper money will slowly get banned - it's already barely used in scandanavia and the EU is tightening restrictions on cash every few years. That fancy paper will be completely banned in 15-20 years tops, and then you will truly be at the mercy of the foreskin-deficient.
With crypto there is always the possibility of a paralel economy. It doesn't have to be bitcoin - there's other blockchains and they can't control them all.
So my first thought was to go see historical pricing for that week and, sure enough, crypto was getting decimated and banking stocks were leaping over the Moon. As most know, these banks have taken billion-dollar stakes in crypto, enticing quite a few more people to "take them seriously" and "invest" their money into them ... just to get rug pulled by those banks and their micro-second supercomputers.
Remember, [Pump-and-Dump schemes](https://www.investopedia.com/terms/p/pumpanddump.asp) are very, very illegal ... with stocks. This is why banks have been running marketing campaigns to get the public to think of crypto coins as a version of stocks. Anyhow, crypto isn't a "passive investment," it's a crapshoot where you're literally waiting 24 to 48 hours to pull out ahead before the next dump. Some guys buy cheap "shitcoins" worth pennies and pull out a penny or two ahead, others buy more "mainline" coins to pull out a few nickels and quarters ahead. Repeat that process enough times and you come out with a few dollars over time. Maybe in a day, maybe in a week, but it's NOT a passive activity. Nobody will EVER convince me that crypto isn't a HUGE scam!
With digital money I get the same thing I get from my phone calculator, but regulated by jews.
With crypto there is always the possibility of a paralel economy. It doesn't have to be bitcoin - there's other blockchains and they can't control them all.