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A comment on FTC Sues Facebook for Illegal Monopolization. Parent comment

Re:FTC Sues Facebook for Illegal Monopolization by Grazester on Wednesday December 09, 2020 @03:04PM (#25363899)
On the same note, a relative asked me the same thing when they IPO.I thought if Google could make money selling ads why couldn't Facebook. I bought in at IPO price for them. I sold for them about 2 years ago when the price was dropping due to privacy scandals.
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Re:FTC Sues Facebook for Illegal Monopolization by CobrastanJorji on Wednesday December 09, 2020 @03:44PM (#25364612)
I've been giving the wrong answer to "Should I buy Bitcoin" since 2011 or so. I was bearish on Amazon when its stock was at 60 because its P/E ratio was ridiculous. I've learned to just be comfortable with the fact that I'm wrong a lot.
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Re:FTC Sues Facebook for Illegal Monopolization by TylerE on Wednesday December 09, 2020 @03:59PM (#25364854)
You're not necessarily wrong. It's a long held truism that the market can remain irrational longer than you can remain solvent.
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Re:FTC Sues Facebook for Illegal Monopolization by dllthomas on Wednesday December 09, 2020 @04:07PM (#25365007)
If you're right about what the market should, rationally do, and it does something else, you were still wrong.
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Re:FTC Sues Facebook for Illegal Monopolization by dllthomas on Wednesday December 09, 2020 @06:24PM (#25366954)
I think I successfully communicated, and I'm getting upvoted, but my wording was imprecise. Would that I could edit to add: "[...] if you thought that is what it would do."
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Re:FTC Sues Facebook for Illegal Monopolization by chillacy on Wednesday December 09, 2020 @05:01PM (#25365879)
Either one is right or the market is irrational? Seems like by that logic one can never really be proven wrong.
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Re:FTC Sues Facebook for Illegal Monopolization by TylerE on Wednesday December 09, 2020 @05:14PM (#25366010)
You can be right, the market can be wrong, and then the market can crash before you can exit the position.

Imagine, for instance, trying to get actual USD (NOT USDT!) for BTC when that fever dream ends.

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Re:FTC Sues Facebook for Illegal Monopolization by ric2b on Wednesday December 09, 2020 @06:20PM (#25366898)
You can get USD for BTC right now, you've been able to get if for nearly a decade and there have never been as many reputable exchanges as there are now.
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Re:FTC Sues Facebook for Illegal Monopolization by TylerE on Wednesday December 09, 2020 @06:30PM (#25367026)
The exchanges tend to "go down for maintenance" on any big price swing.
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Re:FTC Sues Facebook for Illegal Monopolization by mthoms on Wednesday December 09, 2020 @07:32PM (#25367786)
Evidence? I've been in crypto a long time and have never experienced this.

I'm not saying it's never happened, but implying it's some sort of repeating pattern is simply false.

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Re:FTC Sues Facebook for Illegal Monopolization by mthoms on Thursday December 10, 2020 @01:32PM (#25376771)
You said they "tend go down for maintenance" on "any big price swings" but were only able to muster one example of one exchange going down "for maintenance" on one price swing (Bitfinex).

The others, as the articles point out, were trade volume related (which is also a problem, but much less sinister).

There's no evidence this is some kind of grand conspiracy like you implied. There's plenty to criticise in Crypto, but little evidence for what you actually claimed.

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Re:FTC Sues Facebook for Illegal Monopolization by TylerE on Thursday December 10, 2020 @01:42PM (#25376875)
You're moving the goalposts. A day when everyone is trying to get their "money" out is the definition of a high volume day.
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Re:FTC Sues Facebook for Illegal Monopolization by mthoms on Thursday December 10, 2020 @06:54PM (#25380437)
No, I'm not challenging the premise, I'm challenging your framing.

Your comment implied sinister intent: That exchanges go offline at key times in order to scam people.

No evidence was provided of that. The sources you provided point to technical problems that are perfectly understandable during a massive, unpredicted surge in such a technically complex field.

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Re:FTC Sues Facebook for Illegal Monopolization by TylerE on Thursday December 10, 2020 @09:41PM (#25381633)
There is a long history of exchanges explicitly scamming people.

Way beyond giving them the benefit of the doubt at this point.

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Re:FTC Sues Facebook for Illegal Monopolization by zelly on Thursday December 10, 2020 @12:43AM (#25370224)
there is no end. crypto will continue to swallow up all the world's capital and you'll be furious at how many leading zeros there are in your BTC-priced paycheck.
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Re:FTC Sues Facebook for Illegal Monopolization by zelly on Thursday December 10, 2020 @12:37AM (#25370192)
that's just delusion and cope. if the price keeps going up for years, then no matter what you think you're wrong. the market isn't being irrational, you are.
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Re:FTC Sues Facebook for Illegal Monopolization by hawk_ on Wednesday December 09, 2020 @04:49PM (#25365715)
If you're consistently wrong there's alpha even in that, just doing the opposite would work wonders.
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Re:FTC Sues Facebook for Illegal Monopolization by Calamity on Friday December 11, 2020 @01:05AM (#25382829)
hahaha, don't sweat it mate. I'm right along there with you. I was surrounded by people dropping buckets of cash for GPUs back at the dawn of deep learning and was therefore naturally tempted to buy Nvidia's stock price (30$ at the time). In the end, I shied away due to the high PE too.

I take solace in the fact that some of biggest regrets or mistakes that Warren Buffet & Charlie Munger say they have made are those that you don't see - the deals they could have done but didn't and, in retrospect, should have.

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Re:FTC Sues Facebook for Illegal Monopolization by annadane on Wednesday December 09, 2020 @03:23PM (#25364237)
Why the hell is HN so downvote happy?
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Re:FTC Sues Facebook for Illegal Monopolization by Exmoor on Wednesday December 09, 2020 @03:35PM (#25364458)
> Please don't comment about the voting on comments. It never does any good, and it makes boring reading.

> Please don't post comments saying that HN is turning into Reddit. It's a semi-noob illusion, as old as the hills.

https://news.ycombinator.com/newsguidelines.html

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Re:FTC Sues Facebook for Illegal Monopolization by packthetop on Wednesday December 09, 2020 @04:06PM (#25364991)
Copy+pasting the rules is even more boring, just move on
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Re:FTC Sues Facebook for Illegal Monopolization by Wowfunhappy on Wednesday December 09, 2020 @04:19PM (#25365204)
I actually think it's good to have the community enforce/explain our standards from time to time, within reason. Dang can't see everything, and where he does it takes time to respond. Downvoting/flagging works too, but some may legitimately not know that they've broken a guideline.
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Re:FTC Sues Facebook for Illegal Monopolization by raunakdag on Wednesday December 09, 2020 @04:19PM (#25365193)
I feel like there's a relevant XKCD here about the irrelevance of commenting on irrelevance but I'm struggling to remember which.
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Re:FTC Sues Facebook for Illegal Monopolization by hyperdimension on Wednesday December 09, 2020 @04:43PM (#25365614)
Well, it's not all that relevant to the conversation at hand, anyway... :)
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Re:FTC Sues Facebook for Illegal Monopolization by annadane on Wednesday December 09, 2020 @03:43PM (#25364600)
Yes, but it's also clear that there's something very funny going on here, rules be damned
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[dead]
Re:FTC Sues Facebook for Illegal Monopolization by Shared404 on Wednesday December 09, 2020 @03:45PM (#25364617)
> Please don't post comments saying that HN is turning into Reddit. It's a semi-noob illusion, as old as the hills.

https://news.ycombinator.com/newsguidelines.html

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Re:FTC Sues Facebook for Illegal Monopolization by folkrav on Wednesday December 09, 2020 @03:34PM (#25364445)
What a pretentious (and wildly indemonstrable) take.
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Re:FTC Sues Facebook for Illegal Monopolization by easytiger on Thursday December 10, 2020 @03:44AM (#25371332)
It is based on my experience of using this site for 12 years. You can huff about it all you please.
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Re:FTC Sues Facebook for Illegal Monopolization by folkrav on Thursday December 10, 2020 @10:28AM (#25374677)
Not huffing at all, you basically just confirmed yourself my very affirmation: you pulled that out of thin air. Feel free to think it, still doesn't make it neither neither true, false nor demonstrable.

As to the pretentiousness of the thing, that's usually my take on people who feel fine talking about 330mil+ MAUs as a single person.

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Re:FTC Sues Facebook for Illegal Monopolization by easytiger on Thursday December 10, 2020 @10:37AM (#25374802)
> you pulled that out of thin air

As opposed to your opinion that is empirically flawless and unquestionable?

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Re:FTC Sues Facebook for Illegal Monopolization by folkrav on Thursday December 10, 2020 @10:39AM (#25374819)
Opinion is opinion, thus me explicitly calling it opinion.

My take is honestly supported by the very concept of faulty generalization fallacy - given that you did confirm you based this claim on anecdotal evidence - if you ask me, but maybe that's just me.

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Re:FTC Sues Facebook for Illegal Monopolization by kache_ on Wednesday December 09, 2020 @03:31PM (#25364387)
you know you are on orange reddit right?
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Re:FTC Sues Facebook for Illegal Monopolization by UhDev on Wednesday December 09, 2020 @03:58PM (#25364843)
Why can't I downvote?
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Re:FTC Sues Facebook for Illegal Monopolization by Wowfunhappy on Wednesday December 09, 2020 @03:59PM (#25364873)
You need 501 karma.
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Re:FTC Sues Facebook for Illegal Monopolization by UhDev on Wednesday December 09, 2020 @04:03PM (#25364943)
Thanks for answering my question instead of downvoting it!
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Re:FTC Sues Facebook for Illegal Monopolization by Shared404 on Wednesday December 09, 2020 @06:19PM (#25366881)
You may find this page helpful, I know I did (In the sense that it let me better understand what all was going on).

https://github.com/minimaxir/hacker-news-undocumented

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Re:FTC Sues Facebook for Illegal Monopolization by tacocataco on Wednesday December 09, 2020 @08:03PM (#25368081)
That 1 is triggering my OCD.
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Re:FTC Sues Facebook for Illegal Monopolization by Wowfunhappy on Wednesday December 09, 2020 @08:47PM (#25368523)
Well, you could also phrase it as “You need more than 500 karma.” :)
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Re:FTC Sues Facebook for Illegal Monopolization by fortran77 on Wednesday December 09, 2020 @05:50PM (#25366445)
/r/LOLHackerNews
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