The worst part is that for many people this *is* the economy. The economy is to them a casino, rather than a productive engine.

Technological singularity people will say of course this is where things are headed. With scarcity solved the economy is just a game to be played, rather than a struggle for survival. The problem is that technological singularity people have been around since Marx, and have always been wrong.

In the end the people who know how to do things will always be okay, and one speculator will win the game of musical chairs.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076012)

Finance jobs are TTT now.

Gotta have a replacement.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076069)

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076174)

180

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076286)

If you're hoping America starts building shit again, you're going to be sorely disappointed.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076078)

SV is mostly bullshit, but occasionally does great stuff, often from obscure companies no one knows about. Saying SV is as buzzy and pointless as crypto is not accurate. Crypto is an extreme example of tech mania.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076120)

Every early stage technology has had big pointless failures (in hindsight) that went to 0. This time you're just seeing it and can throw your money in the ring directly, rather than via someone taking 2% off the top and another 20% of the profits. Not saying it's a good or bad investment long term, just what it is.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076364)

And, btw, a decentralized internet if it works, will in fact be "productive."

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076436)

I would invest in technology that facilitated crypto transactions. I don't think crypto has much use as an asset, but would be a great medium of exchange. For the latter to happen you would have to inflate the supply to make it useful.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076498)

I suspect you imagine yourself a winning speculator, or better yet a middle man with no skin in the game, and are cynically pumping up this bubble for your own selfish ends.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076344)

Crypto, IMO, is raising a fundamental question: should average people be able to invest in something that has a greater return than stocks (likely, IMO), but is far more volatile and prone to scams. I say yes, but I think it's far from obvious. If crypto is web 3.0, I think it'll be great that retail people got in on the ground floor. If not, it'll suck.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076398)

The valuations for some (granted, not all) of the coins is reasonable if you consider that a coin can have a valuation of $100 mil if it has a 10% chance of being worth $1 billion (or whatever risk adjusted ratio you want to use).

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076477)

Unless people are interested in the aesthetics of crypto, it eventually has to do something else to satisfy human desires (or at least be expected to do so).

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076151)

See http://www.autoadmit.com/thread.php?thread_id=3848753&mc=8&forum_id=2

The Crypto bubble is being fueled by the exact same sort of speculation.

"People were not buying stocks due to fundamentals; they were buying in anticipation of rising share prices. Rising share prices simply brought more people into the markets, convinced that it was easy money."

The biggest difference I see between the two right now are: 1) scale; and 2) how the bubble will pop. I do not think the crypto market is anywhere close to as ubiquitous as the stock market was in 1929. See the story linked above on Kennedy and the shoe shine boy. The market cap itself is also about 1/100 of traditional stock investments. So, even though most people have heard about "Bitcoin," most people still do not own any Bitcoin.

Concerning the pop, the run on the banks was akin to the Hindenburg (rapid hydrogen fueled explosion) due to leveraged margin trading. Margin trading doesn't seem to be that prevalent in crypto, although the valuations are laughably out of sink with reality. I think crypto will be more of a slow burn, with certain shitcoin prices steadily falling over time. Perhaps with periods of intense volatility after a large hack, or new form of government regulation/intervention.

That said, I'm still dumping every last dollar I have into crypto. YOLO.

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076260)

*hits tutu pipe*

*buys undrilled mineral rights for 150 years worth of royalties*

*buys real estate for 125% more than it cost in 2006*

*buys internet Chuck E. Cheese tokens that were 10 dollars a year ago for 1000 dollars a piece*

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076291)

But who cares when you can be like Mark Cuban and realize it’s a scam, dump your trash to yahoo for billions and then buy real assets like fucking nba teams when the music ends

Stop your virtue signaling and ride the tiger

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35076984)

more? is it also inoperable cancer?

(http://www.autoadmit.com/thread.php?thread_id=3848804&forum_id=2#35077052)