Re:Bitcoin: Be prepared to lose all your money, FCA warns co...
by jbay808 on Monday January 11, 2021 @11:22AM
(#25731064)
But these days we do expect every cook and taxi driver to be in the market, because dollars in a savings account are getting returns below inflation.
Re:Bitcoin: Be prepared to lose all your money, FCA warns co...
by leppr on Monday January 11, 2021 @09:49PM
(#25741639)
That's the real tragedy of this uncontrolled fiat money printing. Any way you cut it, the poorer one is, the lower the % of assets to cash one owns (all the way to 0). Small bouts of token helicopter money don't fix this. Bitcoin doesn't fix this.
Re:Bitcoin: Be prepared to lose all your money, FCA warns co...
by diegocerdan on Monday January 11, 2021 @11:53AM
(#25731653)
Agents are forced to play to avoid getting robbed by inflation thus wealth is transfered to owners from no-owners.
Luckly for the working class, nowadays everybody can invest with a cheap smartphone and their little capital thus there is nobody to rob from and the system collapses.
"Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929."
https://archive.fortune.com/magazines/fortune/fortune_archiv...