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Thread: The Automation Spiral (obligatory loleconomics thread v2)

  1. #3421
    Keckers's Avatar
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    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  2. #3422
    evil edna's Avatar
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    Crypto isnt going anywhere

  3. #3423
    Specially Pegged Donor Overspark's Avatar
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    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    Fuck no, lots of people looking beyond the doom-and-gloom of the moment are predicting bitcoin to reach $100k somewhere later this year or next year. Big corporations are loading up on bitcoin quite a bit at the current discounted prices, this is why you can almost always see a price drop in the weekend (corpo buying isn't propping up the price any more and instead it's largely dictated by panicking retail investors) but things keep going sideways during working days. The liquid supply of bitcoin has been going down the entire year so far and it's still decreasing. All signs point to massive crypto upswing at some point, we just don't know when that'll be.

  4. #3424
    VARRAKK's Avatar
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    Why is it called earth, when it is mostly water???

  5. #3425
    מלך יהודים Zeekar's Avatar
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    Quote Originally Posted by Overspark View Post
    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    Fuck no, lots of people looking beyond the doom-and-gloom of the moment are predicting bitcoin to reach $100k somewhere later this year or next year. Big corporations are loading up on bitcoin quite a bit at the current discounted prices, this is why you can almost always see a price drop in the weekend (corpo buying isn't propping up the price any more and instead it's largely dictated by panicking retail investors) but things keep going sideways during working days. The liquid supply of bitcoin has been going down the entire year so far and it's still decreasing. All signs point to massive crypto upswing at some point, we just don't know when that'll be.
    Ponzi schemes run till investors run out of money. This party however seems to keep going.


    

  6. #3426
    Donor erichkknaar's Avatar
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    still plenty of gulliblinvestors with money...
    meh

  7. #3427
    August's Avatar
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    Notorious pharmabro Martin Shrekli is out of prison and hosts an AMA on /r/wallstreetbets.

    https://www.reddit.com/r/wallstreetb...in_prison_ama/

    Answers a surprising amount of questions.

  8. #3428

  9. #3429
    theBlind's Avatar
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    Feeling a bit smug that I withdrew everything in April when the last crypto desaster struck.
    Tanks: theBlind[URBAD] (in my heart there will always be a place for [FAIL])
    Planetside2: [UBAD]theAngelic

  10. #3430
    Movember 2011 RazoR's Avatar
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    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    like fiat currency amirite

  11. #3431
    Movember 2011Movember 2012 Nordstern's Avatar
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    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    like fiat currency amirite
    Why not? The gold standard isn't coming back.
    "Holy shit, I ask you to stop being autistic and you debate what autistic is." - spasm
    Quote Originally Posted by Larkonis Trassler View Post
    WTF I hate white people now...
    Johns Hopkins CSSE COVID-19 Dashboard (updated link)

  12. #3432
    The Pube Whisperer Maximillian's Avatar
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    Quote Originally Posted by Nordstern View Post
    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    like fiat currency amirite
    Why not? The gold standard isn't coming back.
    Fiat currencies real value comes from the fact that you can pay your obligations to the Government with it. So if a fiat currency loses value the pain is shared with the Government who gets paid in its own devaluing currency.

    Crypto is just a form of investment/gambling until Governments start issuing tax notices in Bitcoin.

  13. #3433
    Lowa [NSN]'s Avatar
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    Elon pulled out. Which doesnt seem like something he is good at in general.

    This is gonna be a shitshow.
    Quote Originally Posted by Tarminic View Post
    I would create a dragon made out of vaginas. Then I would create a dragon made out of dicks. Then I would have them fight to the death.

  14. #3434
    NoirAvlaa's Avatar
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    Quote Originally Posted by Lowa [NSN] View Post
    Elon pulled out. Which doesnt seem like something he is good at in general.

    This is gonna be a shitshow.
    called it lmao
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Also that didn't sound like abloo bloo to me, PM me and we can agree on a meeting spot and settle this with queensberry rules, that's a serious offer btw. I've been a member of this community since 2005 and i've never met a more toxic individual.

  15. #3435

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    Quote Originally Posted by Lowa [NSN] View Post
    Elon pulled out. Which doesnt seem like something he is good at in general.

    This is gonna be a shitshow.
    9 kids with 6 wifes and 2 kids dont want anything to do with him, one even changing her last name.

    Trump would call him the pullout master, best in all times.
    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  16. #3436
    August's Avatar
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    They may say that but I guarantee they still want his money.

  17. #3437

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    Quote Originally Posted by Sacul View Post
    Quote Originally Posted by Lowa [NSN] View Post
    Elon pulled out. Which doesnt seem like something he is good at in general.

    This is gonna be a shitshow.
    9 kids with 6 wifes and 2 kids dont want anything to do with him, one even changing her last name.

    Trump would call him the pullout master, best in all times.
    Seems i was 'rong


    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  18. #3438
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    Quote Originally Posted by Maximillian View Post
    Quote Originally Posted by Nordstern View Post
    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    like fiat currency amirite
    Why not? The gold standard isn't coming back.
    Fiat currencies real value comes from the fact that you can pay your obligations to the Government with it. So if a fiat currency loses value the pain is shared with the Government who gets paid in its own devaluing currency.

    Crypto is just a form of investment/gambling until Governments start issuing tax notices in Bitcoin.
    Bitcoin will be bailed out.

  19. #3439
    Dee Jiensai's Avatar
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    Quote Originally Posted by Arkaday View Post
    Quote Originally Posted by Maximillian View Post
    Quote Originally Posted by Nordstern View Post
    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Keckers View Post
    I'm slightly hopeful the crypto fad is dead now and we can return to 'real' economics based on 'real' concepts of value.
    like fiat currency amirite
    Why not? The gold standard isn't coming back.
    Fiat currencies real value comes from the fact that you can pay your obligations to the Government with it. So if a fiat currency loses value the pain is shared with the Government who gets paid in its own devaluing currency.

    Crypto is just a form of investment/gambling until Governments start issuing tax notices in Bitcoin.
    Bitcoin will be bailed out.
    1) Bitcoin is already being "bailed out" in a way, just not by governments. Just look at the BTC price. It is not allowed to go below $19000, as soon as it breaches, massive buy orders prop it up again. The people with *A LOT* of BTC can keep this up for quite a while, to artificially keep the price up long enough to get fresh real money in. (which they need to exit the scam)

    2) no. Bitcoin *CANNOT* be bailed out. it is not a fiat currency remember? You can maybe bail out some large companies that mistook the scam for investment, or bail out the odd pension fund. but that money will not go into BTC. the BTC will be worthless, just the losses real entities have might be compensated by the government.

  20. #3440
    rufuske's Avatar
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    Re BTC, rumor is that 19000 is a point at which margin calls for a lot of hedge funds playing with crypto will start to happen. Some already had to liquidate on way down.

    Also single stock leveraged inverse stock ETFs are now a thing, starting with TSLA...I don't even...

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