You believe the market is efficient then? There's a lot of complete nonsense around that exists only because others believe in it as well, doesn't mean there's something actually there.
So interestingly, is crypto the new religion?
Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire”
- Thread starter Frederick Foresight
- Start date
You believe the market is efficient then? There's a lot of complete nonsense around that exists only because others believe in it as well, doesn't mean there's something actually there.
So interestingly, is crypto the new religion?
The people in said companies are very bright without doubt and as such they understand mass hypnosis/hysteria/whatever you want to call it. You don't have to believe that it's a good business to ride the wave. I regularly go long companies short-term that I believe could be worthless long-term. Reminds me of how I believe Bosch or Panasonic made a deal with NKLA which superficially looked like an investment but really they had cover from any loss, I doubt they were dumb enough to believe the company had any real future but short-term profits were still up for grabs.
That's the mark of an amateur. There is nothing 100% and you definitely cannot have 100% confidence in any investment, no matter how good. Even if guaranteed at first glance, there's risks from other angles.
LOL... Well I guess traditional banks are scum as well because the FDIC issued enforcement actions on 12 different banks in June and 12 more the month before that.
You use the Russian WHATABOUTism. If you use that, nobody is ever guilty as there are always other examples for tyhe same kind of offence.
If somebody shoots you tomorrow, the police can say::"So what? There are shootings every day."
On top of that there are small crimes and big crimes. Can you show proof of the different cases, including the amount of money involved?
of course the market is not efficient, just like no other market is efficient.
Crypto is traded with wrong narratives as a reason just like stocks are traded with wrong narratives as a reason.
I would say the number one religion is the ES, right after that comes Forex and then there is a small but loud group of people who trade crypto
Baron
ET Founder
The FDIC publishes it all on its website. Here are the enforcement actions for June 2022 as an example:
https://orders.fdic.gov/s/press-release-orders?prYear=2022&prDate=29&prMonth=7
Fanbois do all the pouting, something else you are acquainted with.
Elon himself does it all the time. Along with committing fraud.
ES is backed by S&P 500 components, is it not? Ultimately it converts to something real, at least on some level. With cryptos, the only backing is that the other guy also believes it has value, not so different from fiat but crypto bros typically also believe it will be worth tens of trillions any day now, I don't know many who hold USD or EUR and believe it's going to skyrocket and triple in value.
You forgot the 'big' banks as well. Some of their geniuses are so smart, they can do illegal things in open sight, and yet still get away without prosecution. EVEN when outed in a high-profile bankruptcy prosecution case!
On the other hand, an idiot on the street like YOU and I would have the book thrown at.