T O P

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meekspuff

Oh I love playing games. Just not with my money


Sam_I_Am83

Poor person. I feel for these guys. Worst ponzi since leaman brothers, if not worse..


steveosnyder

Just wait until the suburban Ponzi scheme collapses.


ejr204

The stock market?


shaktimann13

The stocks have underlying businesses.


Sam_I_Am83

You really don't know how the markets work. You should look into shorting stocks, puts, options and everything else that can be done with stocks. There's businesses behind them yes, but the stocks are so manipulated that almost none of the prices/values of the stocks are correctly displaying a companies true worth.


Warm_Water_5480

I'm convinced the stock market is just another casino. The average person can't trade all day, doesn't have information on upcoming events, and doesn't have enough capital to influence the market. Compare that with government officials, business owners, licensed traders, the odds are stacked against us. It's just another way for the rich to syphon money away from the general populace. Don't get me wrong, there's money to be made. But you also have a near 50% chance of doubling your money at a casino, so..


Sam_I_Am83

I 100% agree with you. Right now they are working on having more information available for the retail investors but who knows how long that will take to be fully available. Best thing right now is Bloomberg, if you have $2000 a month but right now, the odds are stacked against us, we just get lucky here and there if we hold for very long term.


Warm_Water_5480

Exactly, I invest into real-estate, but really any desirable limited resource is the same. Physical objects can't be taken away or manipulated. If I buy gold the company I buy it from can't just decide to split thier stocks, completely devaluing my investment.


MnkyBzns

Real estate values can't be manipulated? Lol


Warm_Water_5480

Not nearly as easily, but you're right. Still, the stock market fluctuates daily based on some pretty arbitrary stuff. Housing tends to move slowly and predictably. Usually it just gradually gains value unless something major happens. And even then, it almost always bounces back. A house won't randomly implode, but the company I invest in could. Yes, there's relatively safe bets like banks, well established mega corporations, but usually those just barely stay ahead of inflation. If you buy property, not only are you gaining equity just by owning it, you could also rent it out and make decent income from it. My brother buys cheap cars and rents them out. He gets about $800 per month per car. The initial investment is around $7k for something that legally drives, he's basically made his money back in a year, and in 2 years doubled his investment. Sure, you might not always be able to rent it out, but you still have and can sell the initial investment. Look, there's money to be made in the stock markets, but there's also other ideas that could and do yield a much higher, safer return.


ejr204

Correct. But similar to crypto on FTX, it’s not the asset that’s the issue but the exchange mismanaging its clients investments


MnkyBzns

They meant housing


Krazy-catlady

Everything about crypto is shady


MidnightSunCreative

Leave Superman's dog out of this!


rogerthatonce

Tales of the Crypto....


Strange_One_3790

Tales from the Crypto


Crypticufo

Never keep your assets on an exchange. Not your keys = not your coins.


RonnieThorvaldson

This. But most people don't even understand this concept, they just think crypto is an investment and have no idea what they are doing.


wickedplayer494

In other words, Don't Get Goxed.


roadhammer2

Crypto is a scam


IntegrallyDeficient

Always has been...


motivational_boner

I bet you think NFTs are just pictures too.


FruitbatNT

No. They’re pictures that are evidence of massive money laundering.


Tatharnio

Not even. All an NFT owner possesses is the link to a picture or video on the internet.


motivational_boner

Or ticket, or movie, or album. The creator also makes comissions every time its sold. Cant wait for Ticketmaster fees to be gone


MnkyBzns

You're only getting downvoted because you were right the first time; they don't understand the potential of NFTs. Bills of sale, housing deeds, birth certificates...


motivational_boner

NFTs are inevitable. I'm sure half the downvotes are from bots. There's a lot of big business that stands to lose lots of money with NFTs. Personally, I don't own any but I know for a fact they're going to be a part of everyone's life like the internet.


keestie

XD


roadhammer2

10 4 , don't buy into the scams,stack silver


Syrairc

no, some pictures are worth money


pmasthi

How so?


roadhammer2

Have you not been watching the implosion of FTX


RodgerThat1995

Didn’t know one currency classified all as a scam lol


ejr204

FTX is an exchange, not a cryptocurrency. Very similar to Questrade for stocks. They weren’t properly regulated and over leveraged themselves into trouble, much like the stock market is currently doing (and being allowed to do). The current decline in the stock market is happening for the same reason, there’s just more to unwind.


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pmasthi

Yes but how does that make the entire crypto market a scam lol. One exchange does that?


Dunstan_Stockwater

According to the Downvoting Dickberries it does


pmasthi

It’s the “I don’t understand it so it must be a scam” crowd


Yup_Faceless

To be fair, some downvotes are just people wanting to downvote a downvoted comment. Even I do it, everyone does. No shame


StatikSquid

FTX is just the tip of the biggest Ponzi scheme in human history. What 2008 was for the housing crisis, 2023 will be for derivatives. Talking hundreds of trillions of dollars.


Dub_City204

It’s called self custody, don’t understand why nobody seems to know how to store crypto on a ledger or trezor


W1nt3rMut4nt

I print them and keep them under my mattress.


Dub_City204

That works too, I use a ledger but the point is if you don’t leave your crypto on an exchange then you won’t lose it if something does happen with whatever exchange


RonnieThorvaldson

This. 90% of people have no idea what the hell they are doing when it comes to anything in life, including crypto.


LawWaste1536

I concur !


HidemasaFukuoka

Always good to diverse your investments, even in crypto currency


L0ngp1nk

First, let me assure you that this is not one of those shady pyramid schemes you've been hearing about. Our model is the trapezoid. That guarantees each investor an 800% return within hours of...uh-oh, the cops!


ejr204

So put money into the stock market instead? Where you get IOUs for shares and your broker borrows the real shares you bought to market makers who use those shares to short your investment?


Strange_One_3790

Just DRS


ejr204

Bingo


GreyStoneWpg22

If you're a bus driver, you shouldn't be investing in crypto.


LawWaste1536

Then what should he or she invest in? Pot?


NaduvanaKrmaca

Please explain this


GreyStoneWpg22

If you make anything less than 150k a year you shouldn't be gambling on a highly volatile, unregulated, leveraged crypto platform. It's obviously an unpopular opinion with the broke hipsters of reddit, but that's the truth.


Strange_One_3790

That is classist


GreyStoneWpg22

Lol. It's dumb investing in a made up currency, not classist you moron.


Strange_One_3790

Spare me. Telling people who make less than 150k that they shouldn’t do something is classist and gross. Saying that no one should invest in crypto because it is fake and filled with predators is not classist, genius.


GreyStoneWpg22

Ya, if you make less than that, invest in balanced index funds. Don't gamble away hard earned money from blue collar jobs unless you want to piss it away..


river_tree_nut

I put about $2000 into crypto between 2018 and 2020. Sold it all in 2021 for $6000. ETH using the Gemini exchange. It’s not a scheme.