You can't wait to see millions of people lose money and in some cases their livelihoods? Maybe you should stop blaming cancel culture for your declining karma and do a little bit of self-reflection.
What about social media, is that a net negative? Gig economies? Every societal shift enabled by technology comes with significant negatives, but you won't know if it is a true net negative on society until it plays out to maturity.
Yes, absolutely. While it allows people to keep in touch more easily, the manipulation of society via fake news, targeted advertising, etc. has been extremely harmful. It has made people increasingly vainglorious, and promotes wasteful excess in the name of social status (influencers and other parasites on society). It brings out the very worst in people.
Not to forget the rise of far-right extremism. Look at the Qanon thing, what should have been limited to a few paranoid weirdos eventually led to open insurrection. This disgrace would not be possible without social media.
>Gig economies?
Yes. While it is convenient and can benefit some small percentage of the gig workers, it is an overall negative to most of these gig workers - e.g. with ride sharing services they have successfully offloaded the costs of owning and operating a vehicle fleet (fuel, wear and tear / maintenance, etc.) onto people's personal vehicles. I have heard of a number of cases where drivers have taken out loans to purchase luxury cars to be eligible for Uber's higher-end service, only to be stung by pricing changes and forced to default, leaving them far worse off than when they started.
>Every societal shift enabled by technology comes with significant negatives, but you won't know if it is a true net negative on society until it plays out to maturity.
Cryptocurrency has had ~15 years and the only real successes in that space have been new and interesting forms of fraud and incompetence.
It basically acts like gold with more hype because it's on the internet. We have hundreds of years of economic history with gold. It is not some revelation.
If you have any question that crypto is a net negative for society, it is likely pretty hopeless to argue with you. I guess you are invested in crypto, so biased.
Sure, have pity with those with too much money. Of course. Because these people have not chosen deliberately to play with their money. I know there is this sort-of-equivalence of hard drug addicts and gamblers. But in my book, these are all grown up people, that have decided to take a risk to maximize their assets. Not my bussiness at all when they loose the bet.
These commenters missed out on the most lucrative investment of their lifetimes. In their own family and social environment they are considered the technical people, and they get questioned as why they didn't invest. Why they didn't foresee this.
So to keep their own ego alive they must now convince themselves they were right all along, the others just don't see it yet. They are of course very bitter and wish their own suffering onto others.
I, on the other hand, made a shitton of money in crypto, and cashed out a part so I can never lose. The people that I described above really hate these kinds of comments so I'm surely going to be downvoted to hell.
"I benefitted from a Ponzi scheme and you should too"...for every person who cashed out from something technically worthless, there are many others that lost their shirts too...this isn't a valid argument.
I don't get it. I didn't have ten thousands of dollars lying around that I could have invested in 2014 when the hype started but the price was still low. I was in highschool. My mom told me she wanted to invest in Bitcoin at the $20k price point in 2017. Bitcoin is below that now.
What Bitcoin does is reward people who have excess money lying around and who can take the loss. Any person who actually needs their money can't invest into something like that.
> ten thousands of dollars lying around that I could have invested in 2014
Neither did I, nor would I invest so much. $50 would have given you $5000.
> Any person who actually needs their money can't invest into something like that.
The trick is to keep high-risk investments very low. Let's say you have some money you are saving up. You could invest 1% of that in a high risk thing such as crypto. When it goes to zero, you only lose 1%. However, when it does the bitcoin thing and goes x100, you just doubled your total savings.
I agree that when you are in highschool and put $20 or $50 in that, it's a gamble.
But just to be clear, I have nothing against people not investing in crypto. I have a problem with all the people here that seem very resentful and just hope to see everyone in that space lose money.
