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Bitcoin and speculative stock investing are dark mirrors of each other and the whole system is rotten.
Hey guys. Not entirely sure if this is the right place for this post, but here goes. Since the GameStop short squeeze and the Elon Musk Bitcoin pump happened, there's been a lot on my mind about both Bitcoin and regular stocks and I need to get this off my chest. One thing above all has really been bothering me and I couldn't put it into words until recently: how rotten the whole system is and how it allows a minority to earn enough money to never need to work again. Whether it's Bitcoin or speculative stocks, it works out very similarly. People throw money and hope they get lucky, no better than any gambling. When they win, it's not because they were smarter or did some great service to society. They only had to install an app on their phone, go through some KYC and throw money at their crypto or stock of choice. Money is a currency used to determine how much access to society's resources someone has. The more money you have, the more resources you can access. This can be better apartments, lambos, yachts, mansions, whatever. The winners of crypto or stocks are just gamblers, they get a disproportionately high share of society's resources without creating anything of value. And then there's people like me. I work a day job, working hard every day and trying to improve my skills, hoping to get recognized and achieve some measure of success in life, yet I get a pittance while all these gamblers win big. To be clear here, I'm not salty because I didn't invest money or lost it. I don't believe in either speculative stock investing or crypto "investing". I realize that speculative investments have a far higher chance to lose money, and losing money can really hurt you and your life prospects. With both Bitcoin and speculative stock investing, what happens in practice isn't very different. They're glorified casinos and the winners are set for life, and it really grinds my gears because they didn't do anything to earn it, while I'm sitting at a desk day in and day out, working hard yet barely getting anything out of it. But what's even worse is that the winners' wealth is created through exploitative means. For someone to win money in the casinos, someone else has to lose. Usually a lot of someones. And the losers? They can be drastically affected by their loss. It's even more sad when you realize that most of them were suckered into playing the game with false promises: "Bitcoin/Gamestop is guaranteed to moon! Invest now and you'll never need to work again!" and so on. Then when things fail and the hysteria ends, a lot of people are left holding the bag. Some turn to substance abuse, others commit suicie, yet others double down and throw more money at the casino in the vain hopes that they'll win the next time. And even if speculative investments had a 50% or higher chance of making you a winner, what would that mean for our society? I'm no economist, but I'm pretty sure that our society would start running low on resources as people buy more luxuries they couldn't afford before and this would result in price inflation. Which in the long-term, would nullify the winners' wealth and make everyone else worse off. It's all so upsetting, and very sad what our society really values. Sorry if this was too long or rambly, but I really needed to get this off my chest. Let me know what you think in the comments. Edit: This might not have been clear to some, but I'm not a Bitcoin supporter. I know how it works and why it's terrible. Edit 2: Well, my free day of shitposting is ending, so I'm wrapping up this thread. Thank you all so much for your responses! There were many interesting discussions, even with coiners. I might respond more tomorrow, but not as much as today.
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