Quote:
Originally Posted by White Earl
Lmao. You mad you aint on board with us stupid people?
Its funny, stupid people like me, we watching our investment go up atm. While smart people like you keep calling us stupid, but really you just deflecting the fact that you are the ones feeling stupid.
Ya..Thats a head scratcher, i know. But let that sink in... See.. ill be stupid all day. Cause like i said in the beginning. I invested just enough that if i lose it all i wont even notice it... But if it continues in the direction that it is, at the rate that it is... Well, its gonna be a life changer.
Fucking stupid, right?
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Playing the lottery is stupid, too. But there’s many people who have won the lottery and made millions and never had to work again. That doesn’t mean they were smart to play the lottery, that just means they were lucky. The half of the story you’re not telling from that perspective is the millions of people who bought lottery tickets every week and won nothing. They wouldn't be giving out millions of dollars to the winner if they weren't making billions off the losers. Go to your local casino and talk to the dealers, I promise you they have dozens of stories of people who have completely ruined their lives, lost everything they had, ruined their children’s lives over the same shit. Gambling is gambling, some people will win and some people will lose.
Tbh what actually determines whether gambling at a casino is "stupid" is whether more people lose than the people who win. If you had a 95% chance of winning money every time you go to the casino, gambling wouldn't be stupid. Hell, it'd be stupid NOT to gamble. But that's not the reality, most people will end up losing and the house will always walk away with the money. That's why owning a casino isn't stupid. Technically, they're gambling with their money, too. They're doing the same thing you are, they just have a competitive edge that guarantees in the long run they're going to make more than they lose.
There are people who got into doge early and can use this opportunity to make a big payout. I’m not mad at that, if you walk away not holding the hot potato and make money off it, more power to you. Do I wish I could get free easy money without having to know anything or do anything? Sure. Who doesn’t? There’s also people who see the shit skyrocketing and try to get in on the action and end up losing thousands. Just today, the price dropped from 50 cents to 35 cents in less than 10 mins. I assure you there’s someone who lost thousands of dollars in that 10 minutes. Possibly even someone who can’t afford to lose thousands of dollars. That’s why it’s stupid. There’s no inherent value in dogecoin as a technology, it’s not inflationary. Bitcoin, ethereum, other altcoins have real future prospects that in the long term may or may not become a national and worldwide accepted currency, and there are clear signs of the world moving in that direction. There are also clear signs of push-back from lawmakers that don't want to allow that to happen, which is a reasonable argument to not invest in crypto. You ultimately have to weigh the pros and cons and try to do research to better understand whether it's something that's likely to have value in the long-term which is a reasonable argument to invest in crypto. There’s a difference in “investing” because you see an inherent worth in the future of something versus buying some shit because everyone else is buying it and hoping it will make you rich without understanding it, that's just gambling.
Don't think for a moment that there aren't groups of billionaires out there pumping and dumping dogecoin right now. They're the casino. They're the ones who decide when the value goes up and they're the ones deciding when it goes down. It's a pretty easy and obvious strategy. Buy a shitload of dogecoin, make the price skyrocket and everyone else hops on board because they see it skyrocketing and then they immediately sell off all their shares whenever they decide to. Key words, when THEY decide to. Then everybody else sells off and the price plummets because of knee-jerk reactions. Then they can buy it and drive it up, rinse and repeat. The average person doesn't have billions of dollars that make a significant impact on the price and can cause a big gain or a fast sell-off. That's why they're the casino, it's rigged in their favor. They're the ones with the power to manipulate the market. And because Doge has such a low value, it's a lot easier to manipulate than something like Bitcoin. The average person doesn't have the money to affect stock prices in that manner. So sure, you can go to the casino and win some money. If you do, that's great. It doesn't mean that going to the casino is a wise investment strategy, that's just how luck works.