with the pure aim of taking money from someone elses pocket it...

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Skol

32,984 Posts.

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29/05/21

16:54

Post #: 53509591
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Originally posted by Dribs: ↑

Ok, let me edumbucate you on the crypto markets.

Think ASX on meth. It's 24/7, lower trading fee's, you can trade stock-to-stock (aka crypto to crypto) without going back to fiat, 1hr in Crypto is about 1 week on the ASX, and TA works exceptionally well. You get access to all the types of trading that the most serious ASX traders do, but straight out of the box. Everything is instant including going to/from fiat and transfers to/from bank accounts. No T+2 garbage.

Add to this, more volume in a day than the ASX does in a month, a global market, not just AU based. You can literally carry your stocks around with you if that's your thing. Open API's that don't cost $20k/month (so want to build a bot to do high frequency trading? You don't need to be a $10b hedge fund to take advantage of that), it's all free. You can earn up to 30%+ per annum by staking your assets if you want to hold (imagine 30% dividends on top of typical crypto growth) and that's barely scratching the top of the surface.

The cons are:
It's volatile (not really a con, it's great for traders).
You have to endure morons on stock forums quoting Warren Buffet taking every opportunity to tell you a $2 trillion dollar market of the fastest growing asset class mankind has ever known with millions of participants world wide tell you it's going to collapse over night because BTC took a seasonal, and predictable, dump.

And you can do all this without giving a single turd about the technology, the fundamentals, the whatever, with the pure aim of taking money from someone elses pocket it putting it in your own. Just like I do. It's the greatest advancement in financial markets ever, and you're missing out on it. The whole thing could collapse for all I care, so long as the model lives on in some other form.

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with the pure aim of taking money from someone elses pocket it putting it in your own.
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Does that sound like a viable business?

Taking money off other people? It's a scam, and I'm amazed anyone with the IQ of a potato hasn't worked it out.

Last edited by Skol: 29/05/21

Price at posting: 0.0000 Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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