/biz/ - Business & Finance

[Anonymous No.9839518]

why are people more inclined to call crypto a ponzi instead of wallstreet? Is it because people's minds are so small that they think software is 'imaginary' despite it taking millions of hours of developer time and effort to create?

[Anonymous No.9839529]

because it's a grassroots phenomenon. doesn't come top-down so it 'must be a scam'. for the most part they're right.

[Anonymous No.9839571]

they want it to be a scam so other people will lose money. sad truth, but only the ones that have lost their money call it ponzi.

[Anonymous No.9839581]

>>9839518

Humans, like primates, are extremely susceptible to appeals from authority. If crypto was invented by some (((Nobel-prize winning economist))) and the US gubberment made a statement saying it was great and Bernie Sandals funded his presidential campaign with crypto, nobody would call it a ponzi, except ironically people on /biz/ and /pol/.

[Anonymous No.9839588]

>>9839571
>they want it to be a scam so other people will lose money

I agree with that but not the rest of your post. It goes like this:

>normie doesn't understand crypto
>normie understands that those who do understand it may get rich
>normie detests people getting rich just by understanding something he never will, while he wagecucks
>normie wishes it is a scam so that those who understand what he doesn't will lose their money

I never use the j word, but these niggas just jelly AF

Excellent milkers btw

[Anonymous No.9839594]

Because nobody needs it. Fiat itself is useless. Crypto is just a digital representation of Fiat that needs a lot of electricity to sustain.

The energy used by maintaining crypto Networks is far more useful than crypto ever will be.

Invest in power, water, food, timber

[Anonymous No.9839606]

>>9839518
It’s not coming from the top down and it’s in an early stage, also bad press in general.

The stock market started with the elite, crypto started with nerds.

Also must people don’t even understand that “shares” can be divided in clases etc and basically buying shares in a company doesn’t entitles u to shit unlike what the average joe might tell you.
Unless you’re holding class A, you’re holding worthless bits on a computer and if the project fails you’re literally last to be served absolutely nothing because if it goes bankrupt it means it means the valuation of the company of very likely below the amount owed to creditors etc.
Wall Street is too a speculation game.
And if you think gambling on crypto is degenerate you should check out options and margin trading fiat.

[Anonymous No.9839617]

>>9839594

[Anonymous No.9839629]

>>9839518
I think its all a ponzi, including WallSt and including crypto.

[Anonymous No.9839633]

>>9839588
>people getting rich just by understanding something
This doesn't just apply to crypto though. I never finished high school in Netherlandistan and worked in a factory for a while. I had an epiphany and started studying books and shit in my spare time. Eventually I got certain certificates that allowed me to study medicine (uni is free here).

Our high school system is tiered and your allocation is based on elementary school performance. Poor people here resent rich people by saying shit like "hurr well you just got your kids a private teacher for those tests durr".

When I talk to these people and tell them my story and how I'm studying medicine now, they get this "does not compute" face and get hyper defensive because I told them something that conflicts with their world view. There's no helping poor people, they must help themselves

tl;dr poor people gonna poor

[Anonymous No.9839851]

>>9839518
With stocks, you have an actual ownership of that business. You own a portion of their assets. In crypto, it is difficult for many to see the value because its not as clear as owning stock. Not saying there isn't value, but unless you've done your research, its easy to see it as a ponzi.

[Anonymous No.9839880]

>>9839594
There's far more wealth hidden in corruption than the energy industry.

[Anonymous No.9839916]

>>9839851
I guess for most cryptos it's about investing in a new eco system. You bet that people are going to use it and the participants are incentivised to recruit new members.
I guess in a way it has similarities to a ponzi, but people don't get that fiat money is no different - just way more advanced.

[Anonymous No.9839933]

>>9839594
>t. retard
You are literally a perfact case study for this anon's >>9839588 theory

[Anonymous No.9839934]

>>9839518
because they're animals

animals don't understand math

[Anonymous No.9839947]

Trade volume

[Anonymous No.9839967]

>>9839518
just people outing themselves as fucking brainlets. Maybe bitcoin has bad actors (it does) maybe market are manipulated (they are) but if you don't see how this technology revolutionises finances you are a fucking retard and I can't wait to rub my dick in these contrarian fuck's faces when we strike it rich ( I already have for the most part)

[Anonymous No.9839969]

>>9839594
>Only representing Fiat
>Only knows PoW

Thanks for confirming that crypto wasn't even close to reach its Ath

[Anonymous No.9839970]

>>9839606
>The stock market started with the elite
That's a lie, stocks started because businesses needed the kind of funding only nobility could afford, so they issued shares everyone could buy to raise money.

[Anonymous No.9839976]

>>9839916
You don't own the ecosystem or any profit it might generate tho. You just buy ledger entries and hope latecomers will pay more for them than you did. Stocks are tied to real-world businesses that quantifiably generate value and cashflows and return it to investors, businesses exist to bring returns to people who invested in them. Comparing real world businesses to a negative-sum token trading game is disingenuous at best.

[Anonymous No.9840066]

>>9839518
basically because smart people invest their valuable FIAT currency in stocks. there's a ton of shit we can go through as to how this came to be but frankly it is not important. end of the day if you invest in stocks you feel / sound like a smart goy.

[Anonymous No.9840112]

>using crypto for anything besides quickly transferring wealth so you can acquire distant assets or purchasing shit without paying a bunch of stupid fees
It is like you want to be fucking poor forever.
I never held BTC for more than a week and I made/saved $50K in the last three years thanks to it.

>but m-muh moon
>if you just held it would be a millionaire
Yes, and if I could predict the behaviour of roulettes in my local casino I could take those $50K and become a millionaire in a few seconds, hindsight is meaningless.

Seriously, what is wrong with everyone? Why can't you just accept a good thing for what it is, how the fuck can you be such a loser that you would rather gamble all your money away just because you can not understand that crypto will not solve all your problems?

[Anonymous No.9840124]

>>9839976
no not really, you're talking about dividend paying stocks specifically where the question is, is this a good interest rate and what are my chances of actually getting the money, through the wash no different to a POS mechanism. in terms of the centralized ledger entry of the stock itself you can call under / overvalued but only because the market tends towards a loosely agreed upon valuation method - this is trading at 10x revenue and i think they think they will make more money next year.

actual equity, where you directly receive a proportion of the profits is different again, but this is not what you are buying in your fucking ameritrade app.

[Anonymous No.9840200]

>>9839976
There's plenty of stocks that can only be used for selling in future with no dividends or voting rights whatsoever.
With crypto once an eco system is working, you don't have to sell the tokens for profit - you just get more products and services for the same amount of tokens.

[Anonymous No.9840211]

>>9840200
This. I cannot take my stocks to a fucking store and buy shit with them, they are quite literally worthless.