People can spend their money on whatever they like and invest in whatever they choose. Iโve always taken a position that I want to invest in things that make sense to me and ideally something that would improve the world in some way
A thousand upvotes? Is this reddit?
What's the exchange rate of Reddit karma to Lemmy nothings?
Reddit karma uses a logarithmic function to determine the karma on a post. The first upvotes give 1 karma each, but the higher the number gets the less karma you get from additional upvotes.
This isn't even some theory based on observations, the reddit algorithm used to be completely open source so you can see how it works on github (or at least how it used to work 7 years ago).
Front page reddit posts with 50k points most likely have over a million upvotes in reality
Crazy that this is how I found out about this. I guess that's what I get for not being enough of a repost bot ๐
1,763.64:1
From 97 million active users from reddit vs 55k users from Lemmy.
stonks
I didn't even know the counter could go to 4 digits.
It doesn't happen often, but when it does it's the equivalent of going viral around here lol
1k upvotes here is like the equivalent of 50k on Reddit (probably I'm operating on dated info, who knows how much they screwed with the upvoting system by now lmao)
I think I saw this meme for the first time in 2017
What's funny is that, in 2017, the ETH high was something like $12. (It got up to $1300 in 2018)
Now, it's sitting at $2000 and it's a "crash".
The lesson here is to buy the dip and then check back in 5-10 years.
If you're gonna hodl for 5-10 years you probably don't even need to worry about buying on the dip ๐
True story. Patience is an investor's best friend.
gotta hodl your memes
This is what happens when you don't use crypto as god intended: purchasing medication from India and subscriptions to indexers.
Purchase Bitcoin right before purchase. Watch the spare change left over go up and down and imagine all the millions you could be winning or losing.
This is what happens when you don't use crypto as god intended: purchasing medication from India and subscriptions to indexers.
I'm not saying this is what I bought Monero for.
But this is what I bought Monero for.
I think crypto is good for transactions, not storing money.
Like, crypto in general sucks, but digital anonymous money transfer is almost impossible without it.
The underlying tech is actually very cool and neat, unfortunately it got co-opted by cryptobros and bastardized :(
So energy intensive though. There has to be a less wasteful way to do proof of work
You took the words right out of my mouth! I think the blockchain is a very neat technology, but cryptobros completely ruined that.
No, man. People are sounding like these prices are fixed, when we've seen time and time again that crypto prices are cyclical.
Now's a time to buy. ETH is at a 50% discount. Your assets would be in a pretty good spot right now if you'd bought Bitcoin in 2017 when it "crashed" to $4000 per unit. I picked up shares of EZBC at an average of $32 a share (currently hovering between $45-$50 in a supposed crash) and XRP at 50 to 75 cents, currently hovering around $2.10.
What you do is invest, and then just forget about it and let those assets sit. Investing is about forward-thinking.
Is this really a cycle? The interesting thing to me is, as others have pointed out, it's mostly dropped right along with the stock market. Not looking so much like an uncorrelated asset.
It is uncorrelated to the stock market.
What it's not uncorrelated to is the chaos of the Trump presidency.
They are as cyclical as people are cyclical for falling for confidence scams again and again and again ... You can consider something based on how good an investment it is, or based on how ethical it is. Very seldom will both work out. People, don't cry about the rich getting richer, the poor getting poorer, assholes behaving more like assholes, and inflation skyrocketing when you normalize and even crowdsource this sort of relationship with your economy. Don't be surprised when the society that surrounds you is so burnout all you have to spend your money on is shit.
They are as cyclical as people are cyclical for falling for confidence scams again and again and again
No. They are cyclical because of the way that crypto algorithms work, and the effects they have on the media and human greed.
how ethical it is.
This conversation isn't about ethics. It's about the silliness of the meme, but thank you. You are correct in saying that each individual investor needs to consider these issues as well.
We've seen time and time again that not all crypto prices are cyclical. Ethereum has been performing poorly relative to BTC. If you're just going to forget about it, then you should avoid proof of stake! When you log back in you'll see that everyone who staked was sitting on a musical chair and you're not.
Plus, it's run by a central foundation that bailed itself out when the DAO flopped. Requires attention at best.
What is an "Ethereum"? Some sort of subscription?
A cryptocurrency that recently lost a lot of its value
I can't wait for people to realize they're all in a pyramid scheme together. I'm sick of hearing bros saying crypto should be part of my portfolio.
It never had any value, like all other crypto currencies. But it was used to fake value and dupe people out of their money.
Value isn't necessarily something tangible. It's what other people think it's worth. The USD doesn't have any more value than the belief people put in it. Do you also think it has no value?
I'm not defending crypto speculation, but it's ignorant to say it doesn't have value if you can buy things with it. Basically all modern money is based on faith, including crypto. Even when it's based on gold or silver, that's aren't actually useful for most people so it's still made up value worth however much people value that.
Basically all modern money is based on faith, including crypto.
Ok, sure, however, fiat currencies are based on the faith that there's at least one entire nation that you can use your currency in, and is motivated to ensure their currency is worth something, and has some semblance of stability. Crypto is based on the faith that there's other dumbasses out there that will agree with you that these particular bits hold value for some reason.
Crypto is based on the faith that there's other dumbasses out there that will agree with you
And that's the most beautiful thing about crypto that got lost in all the speculation, shitcoin, scams, and nft bullshit. A currency of the people for the people, but of course, when the pigs came into power they were the same as the old farmers.
Yo, don't be bad-mouthing our soon-to-be currency. Scams and money laundering were never this easy.
Ethereum is a petroleum based lube used in gay porn. When multiple dudes double dock during an orgy, that's called a block chain. The ethereum on their foreskins creates an immutable ledger.
Ah yes the price is returning to where it was 4 months ago just like the stock market. So people who have been buying at the peak for the past 4 months might have lost some money. Otherwise it's still up like 10000000% historically.
Nobody cares except the anti-crypto ideologues with their misinformed memes.
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A collection of some classic Lemmy memes for your enjoyment
