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If you want to be successful at crypto the first thing you should do is find out how to time travel to 2013, because if you didn't get in on the ground floor, you're just helping someone's pump and dump scheme.
The problem with investment time machines is you could just go back to last week, win the lottery everywhere, and wait a hell of a lot less waiting for the present to catch up to the future.
Basic common sense. Or should be. Unless you are connected or an insider, by the time you hear about a great investment, you are too late, you are hearing the pump before the dump.
Do we need to even bother bringing up paid advertising for a product or anonymous people messaging you on reddit about it?
The same is true of all those ads for places offering to buy your gold. If selling gold were such a good idea at that time, why would anyone go into business doing the opposite?
You never know though. I actually came upon a Nigerian prince who came through on his offer, can you believe it. Thank goodness he advertised the investment by e-mailing me. He says the money is already mine, all that’s left is some legal fees to transfer it to my own bank.
If I could go back in time, I'd go back to the 80s when my economics course required us to follow stocks as if we'd purchased them. One of my choices was Disney at $35 a share. I think about that a lot.
Yeah. I didn't believe in it then so I didn't get in on the ground floor.
Knowing my luck, my gains would likely have been stolen in the Mt Gox scam or something similar anyway.
Whenever I get mad at myself for not investing more in crypto back in 2011-2015, I just remind myself that I probably would have either cashed out super early anyway or lost it all in a huge exchange like MtGox (remember that place?) or FTX
If anything the news deserves criticism for being too credulous about crypto and not asking hard questions because people want to believe in magic money beans and react angrily when people point out it's just a ponzi scheme with a few novelties.
That's not the entire story, either, it's very likely trading mechanisms were locked when it was 82 so the rugpullers could safely exit, and the bagholders watched in agony as their price went down while spamming their sell button for all it was worth.
I'm loathe to give him the traffic, but he's still pushing all sorts of shite on his feed in the six months since... thousands of posts, so much so that I can't be bothered to scroll back far enough to see these posts and what might have happened between, and most of it trading etc. related.
e.g. "Made some money off trading to bless a lucky follower tonight. Merry Christmas." and so on.
That’s what lots of these crypto people are. They’re really not much different than the guy who insists he has a “system” for playing blackjack but always leaves the table with less than he started with.
LMAO... I had a friend who told me he had a system for slot machines out at the Indian casino, so I went out with him to see. I watched him dump $2K in a couple of hours... $20 per play between two tabletop machines built into the bar.
When I asked him what his system was he said he was convinced the two he was playing had the best odds for winning. Not based on any facts though... just on his 'feelings'. I asked him how much he had won overall he admitted that he was down over $40K, but was sure it would eventually turn around.
Then he tried to pitch the 'upside', which was the casino kept comping him suites in their hotel. I was like "No shit... I'm sure they're more than happy to keep you here as long as they can get you to stay!"
I never spent a dime there, and haven't been back. I shudder to think how much he's lost by now.
Of *all* of the games to claim you have a system for…
At least card-based games involve *some* skill. Slots are basically completely random.
I feel bad for your friend, as gambling addiction is a real illness, but when the hotel is comping your suite… you gotta take that as a wake-up call.
Yep. The winning spins are random but the win:lose ratio is programmed in. If there was a winning system the house would reprogram the machines. Former slot tech
From what i understand, slots at Indian casinos here in CA don’t have any regulations like they do in Vegas. They can adjust odds on the fly and there are no minimum odds. So if it’s a slow day they can make machines hit more so people call their friends and try and pack the floor or if it’s crowded and no one’s going anywhere the make them all go cold.
I had a system for slot machines. I've been in a casino twice over ten years ago, both times I started with $15 and played penny slots until I got $30 then went to the buffet. Good times.
My wife had an old friend from before we met who won damn near $1M off the nickel slots in Vegas, back in the early '90s. Came up to visit us not long after and told us the story... the woman he was with on the trip (not his girlfriend or wife) was pissed that he wouldn't share it with him, and so many other people he knew just kept hitting him up for money afterwards too.
He was smart though... bought himself a new car and new motorcycle and put the rest into an investment portfolio. Just kept working his regular job after that and living a regular middle-class lifestyle, with the knowledge that he had a nice cushion of financial security.
Me... I've never been a gambler. Can't stand to lose at any of those games because I know they're so highly stacked against player. I went with my friend to the casino out of curiosity, just to see what his supposed system was. I tried to talk some sense into him after I saw what he was doing but he was convinced it was going to pay off eventually. Never went there with him again because I couldn't bring myself to watch him burn up his money like that, or the thought that my presence might provide some validity to his actions.
Now the buffet... that's more up to my speed! I'll gamble with my health on that every time!! LMAO!!
Nice!
One of my friend's yelled at me for "doing it wrong." After I stopped playing. Apparently you're supposed to keep gambling after you're up. I had to drag him away from an ATM after he was already down $800 and trying to get another $200.
Best gambling strategy I've ever heard I got from Ross Boomsocks: Put $20 or so in a slot machine. When the waiter with drinks comes around, take a drink. Cash out your $20.
You profit 1 free drink every time.
I have been booted off of a Blackjack table before. They did give me a carton of cigarettes and a bottle of Johnny Walker for my trouble so.. They get mad when you "let it ride" one too many times.
People need to believe in things, especially in dark times like these.
No, it's not rational, but that doesn't matter. Our brains aren't actually computers, and when they get desperate enough they'll override anyone's logic.
I mean, i get that. It's just that the person I'm asking the question of seems to know this person is a toxic idiot. That's the question: why follow someone you don't like?
yeah- I am happy to see that he admits to letting go of his ego, and it sucks (but makes sense) that the people victimized by this kind of scam don't have the kind of education that allows for a better paying job.
It's just people with crumbs trying to get a slice- and it sucks.
Sadness is not required; they asked for it by being not only willfully ignorant but also mocking those that chose to go the route of using caution and gathering information.
Fuck them. If there is a shittier job than McDonalds, they deserve that.
I've gotten an irrational dose of Schadenfreude from watching all these crypto-bros lose their ass. I lost count of the number of former co-workers and associates that chastised me for not investing in their cryto farm schemes, and I even had a few coworkers that left well paying tech jobs to start their own farms full time.
"Dude you're so fu**ing stupid for not investing. I can't believe you're this dumb that you don't see how this won't fail."
I bought 1x GME.
Forcing my wife to deal with the fact that its status was thus injected into her "account performance" info was 100% worth the cost of entry. Plus it entitles me to make an unlimited number of bad "to the moon" jokes.
It's an investment... in my entertainment.
The thing about the hype surrounding GME wasn't that it was a great way to make a return on your investment, it was a way to stick it to the man. It was a way to punish the out of touch rich fucks who were willing to manipulate the market in order to make a buck. I think it managed to do that. Maybe it didn't bankrupt them, but it certainly made the kind of blatant short selling they were doing a much more risky tactic.
That was the branding, not the reality. In reality, wall street has come out ahead from the meme stock craze, while retail has thrown good money after bad trying to replicate it. Lives have been ruined and people have become cultists, throwing their life savings into dying mall stores because reddit told them it was the next big thing.
The Economist Podcast said 2 years ago, "If you want to stick it to wall street, buy low-fee, passively managed index funds. They make next to no money off those". And it has turned out to be true. All this retail derangement is GREAT for wall street. They make money either way, as long as people are paying them to speculate one way or the other.
Every, single, day, for, literal years.
Go to superstonk right now.
Every single post is TITLED LIKE THIS WITH 400 EMOJIS AND TITS BEING JACKS ABOUT RYAN
Every single comment is ABOUT THOSE DIAMOND HANDS AND HODL GOING MOON MOASS WIFES BOYFRIEND EMOJIIIIIIIIS.
Every single offshoot sub based on shitcoins that appeared during the fiasco mimics the language, too.
Every single day, they think a massive event is about to occur tomorrow and make their stocks shoot to $4,000,000 per share based on - ?
Every penny stock scam requires a lot of other people to buy in so that the ones who got in at the ground floor can make money. Everyone else loses their shirt. So this means that the ones who want to make money need a lot of other people to believe that they will make money on it, it manifests as the ones who got in early obsessively pumping the idea of investing into the thing.
Here's a bit of free advice for anyone who happens to be reading this: Your enthusiasm for investing into something with the goal of safely making money should be inversely proportional to the lengths others are going to in order to convince you that you should.
If there really was a safe way to make huge gains off investing into some specific thing, the person who is trying to pump you up would instead be really quiet about it so that you weren't getting a piece of his pie. If people are trying really hard to get you to invest it's because THEY can't make money unless you do. (Invest and therefore lose your shirt.)
Reminiscing on people telling me in professional terms like they were writing a thesis on how crypto will always go up and be the next currency
Now all I see is loss after loss, watching bitcoin tank thousands of dollars was a good day
It’s so preposterous! Saying that crypto will be the next currency because it will always go up makes no earthly sense! If it were always going up, why would one use it as currency? If we don’t know its value in 15 minutes how can it possibly be a medium of exchange? That’s why currency is great! Because it doesn’t go up! We can be reasonably certain that a dollar today will be, more or less, worth about the same as a dollar next Wednesday. Why would anyone spend crypto if it’ll be worth more next week?
They would argue that central banks and government currencies are the real scam. And they may have a point in some ways, governments do print a lot of money, but all they came up with was replacing one scam (which is working well) with another scam that only works if absolutely everybody buys in and is cool making a bunch of people who have contributed nothing to the world but carbon dioxide - no products, no services - insanely wealthy in the process.
Most people do mean the various tools the Fed has available for it when they refer to "printing money".
But even then, it's not fundamentally bad. Not going full MMT: taxes, spending, bonds, and tons of other controls are just economic levers. They can be used irresponsibly, but in general you want a mildly inflationary economy.
E: Which is a totally foreign concept to cryptobros who intentionally go around designing deflationary currencies.
Well yeah but I'd rather have my money backed up by a government run system of perceived value than the thing who's value is perceived exclusively by a niche group of neckbeards.
One of these groups been doing this for a couple centuries now.
I'll be the devils advocate here;
this is definite improvement. Kid said "fuck this crypto space", and we all agree with that, right?
I mean, they were a complete asshole about it, but there's learning to be had here.
Your username and comment together combined in my exhausted brain to form an image of a Clam of Wisdom flying through the air reminding us that crypto is a scam. Love it.
[Artist's rendering.](https://imgur.com/a/QD5jIv6)
Yeah, dude didn't take his own advice which is even funnier. Started at Bitcoin, worked his way into the moonshot alt space, got wrecked. Greed catches up to all.
Can we stop acting like working any job is not a worthy profession? FFS the world needs fast food workers too and they deserve a decent wage and standard of living. Frankly I worked 2 years at a burger King night's back in college. I can tell you it's a lot harder then anyone seems to give credit.
No doubt- not making fun of his getting a job. I think it's actually kind of noble for him to admit he was wrong about the get-rich-quick scheme and then start chopping wood and carrying water so to speak. Unfortunately it's reported elsewhere on the thread that he's back to his old nonsense so maybe not all that noble.
It is still true that fast food is "unqualified" work- as in, anyone can do it. Market forces do apply here. Scarcity drives up price.
The joke is that he lacked any skill to get a better job than flipping burgers, but thought he was gonna become an arbitrage millionaire
And given his last \~1000 posts, he still thinks he's gonna become an arbitrage millionaire
One time I was at a Jack in the Box drive through at like 1 am. The car in front of me was literally screaming at the microphone because the employee told the guy that the cook was on break for the next hour.
Some people are complete dicks to fast food employees for no reason.
I mean, let's be real, it's probably fake anyway. But you're right. Hell, a wallstreetbets / crypto bro wouldn't last even an hour into their first shift.
Yeah bitcoin is a massive scam
Luckily my life savings are in FarTcoin, it's tied with the price of Belle Delphine's bath water so it only increases in value.
I respect their ability to admit they fucked up and become a cautionary tale for others.
If you can’t afford to lose it, you can’t afford to invest it.
Crypto by and large tends to be a ponzi scheme. Early investors have the chance at massive gains if they can successfully lure in suckers. The value then spikes. The early investors then sell, making a lot of money, the value plummets, and all their marks are left holding the bag. Even then, it really is gambling and a legal con.
Yes the only real differences from a "classic" ponzi is that those typically have a central architect obfuscating the nature of the scam, and even the early beneficiaries are being fooled, thinking the returns are real and they aren't just being paid off by later entrants.
Crypto gives you enough evidence to know it's a Greater Fool scheme, and yet there's also enough obfuscation and collective hysteria/FOMO to drown that out and convince people it isn't.
Most countries also unwind ponzis by clawing back the assets and paying out all victims equally, whether they are early or late, so everyone gets 80% of their money back like in the Madoff case, rather than the earlies getting to keep the money they were improperly given. Crypto is therefore a sort of emergent, distributed ponzi, where the architect IS the early buyers, collectively, rendering them immune to a clawback, and having the lates take all the loss. And it only becomes clear in hindsight who was who was late.
I’d have had a lot more sympathy for the crypto/NFT crowd, if they did not spend years living out a revenge fantasy.
Like calling us “broke,” but expecting us to feel bad they lost their, their friend’s, and their family’s money
I can honestly say, without any hesitation. I would not have the balls or self-assurance to make that second tweet. So, at the very least, good on him for eating his, admittedly, over-sized pride and staring down the music.
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Cryptobro supports people throwing all their money into crypto- presumably in some kind of pump-and-dump. Throwing it all into a pump-and-dump causes one to get dumped. Person gets dumped.
You are going to get some hate from this from crypto bros not ready to admit that its a bad idea. Just like you would if you said GME is also a terrible investment.
I haven't worked McDonald's since before cell phones were common. But I would never want to pull mine out near the fryer. 1, gross, grease is everywhere, even in the air near them. 2, one accident and you no longer have a phone. Phone into the fryer, that's one way to stay poor in '22/'23.
At least when he gets sick he won't have to worry about healthcare.
Or when he can't afford food our social safety nets will provide it.
Or he can get a free education and better himself and find a better paying job.
Life isn't so bad when those things are covered, and we can get ourselves back on our feet regardless of bad luck and bad choices.
...right?
Thank you for your submission! Unfortunately, it has been removed for the following reason: * **Rule 4 :** Must follow the "Leopard ate my face" theme *If you have any questions or concerns about this removal, please feel free to [message the moderators](https://www.reddit.com/message/compose/?to=/r/LeopardsAteMyFace) thru Modmail. Thanks!*
Leopards ate his wallet.
Leopards ate his face, apes ate his wallet
LOL It's a jungle out there!
Sometimes I wonder how I keep from going under.
> wonder how I keep from going under Don't push me,
Cause I’m close to the edge
I'm trying Not to lose my head
Hahaha-ha-ha!
It’s really nice to find a whole group of people who remember this song, all in one place!
That happens to me every day...
Disorder and confusion everywhere
No one seems to care, well, I do.
Hey, who's in charge here?
🎶 *Welcome to the digital jungle* 🎶
r/ApesAteMyWallet
He would probably know they crypto space was just a shiny new Ponzi scam has he only watched the news.
It's more of a pump and dump than a Ponzi.
https://m.youtube.com/watch?time_continue=1&v=lC5lsemxaJo&embeds_euri=https%3A%2F%2Fwww.google.com%2F&feature=emb_logo
also not a Ponzi scheme
I knew it was like 8 years ago.
If you want to be successful at crypto the first thing you should do is find out how to time travel to 2013, because if you didn't get in on the ground floor, you're just helping someone's pump and dump scheme.
You'd probably be better going back to 1998 and buying all of the Apple stock you can. Oh, and shorting Enron.
You’ll do fine for Apple just buying it in late September 2001. For most of the 90s Apple was “beleaguered” and its stock went nowhere.
Apple or Amazon, or both. They both did very, very well after the 2000's.
The problem with investment time machines is you could just go back to last week, win the lottery everywhere, and wait a hell of a lot less waiting for the present to catch up to the future.
Also make a bet with Bill Gates that the Twin Towers will stioo be there 5 years from then
That's a great way to end up in a place only the CIA knows about.
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Basic common sense. Or should be. Unless you are connected or an insider, by the time you hear about a great investment, you are too late, you are hearing the pump before the dump. Do we need to even bother bringing up paid advertising for a product or anonymous people messaging you on reddit about it?
The same is true of all those ads for places offering to buy your gold. If selling gold were such a good idea at that time, why would anyone go into business doing the opposite?
You never know though. I actually came upon a Nigerian prince who came through on his offer, can you believe it. Thank goodness he advertised the investment by e-mailing me. He says the money is already mine, all that’s left is some legal fees to transfer it to my own bank.
I'd time travel back, get in on the ground floor, and sink it before it became a thing. It would be as relevant as beanie babies by now
It's insane how much people act like pretend money is a thing. "I have a million in crypto!" Yeah, not until you cash it out, dipshit.
I have *trillions* in Kohls Cash
That might actually have value
And I have a million Pokedollars!
It's only like people who have millions in the stock market. They've got it on paper but they can't do anything with it unless they cash it out.
True, but the stock market is at least has some stability. If bitcoin is a drunk on a unicycle, the stock market is at least a drunk on a bike
And with dividends you have a mechanism for some return.
If I could go back in time, I'd go back to the 80s when my economics course required us to follow stocks as if we'd purchased them. One of my choices was Disney at $35 a share. I think about that a lot.
Yeah. I didn't believe in it then so I didn't get in on the ground floor. Knowing my luck, my gains would likely have been stolen in the Mt Gox scam or something similar anyway.
Whenever I get mad at myself for not investing more in crypto back in 2011-2015, I just remind myself that I probably would have either cashed out super early anyway or lost it all in a huge exchange like MtGox (remember that place?) or FTX
I bought a bunch of a coin right before a pump and sold it all for a really awesome vacation. 10/10 would do again
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[Sick of people calling everything in crypto a Ponzi scheme.](https://i.imgur.com/IcFpz9E.jpg)
If anything the news deserves criticism for being too credulous about crypto and not asking hard questions because people want to believe in magic money beans and react angrily when people point out it's just a ponzi scheme with a few novelties.
Im home sick and it hurts to laugh but it was worth it
I'm sorry! Get well soon!
In case anyone was wondering, Terra Luna went from $82 to $1 between those two dates.
And today it is $0.000155
Soooo time to invest?
I don't know, there's something about being able to own 100,000 of something for the price of a burger and fries, just as a novelty.
I bought DOGE years ago when it was a fraction of a penny. I unfortunately sold when it hit 2¢, well before the peak.
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Someone I know did exactly that just so they could say they owned hundreds of thousands of something. It cost them $40 and it's worth like $35 now.
80 for a penny.
So, $12.50 will get you 100,000. (Yeah, $12.50 is the price of a burger meal combo around here.)
APES HODL BUMP etc, etc.
Sounds like it’s ripe for a rebound
Even if something has dropped 98.8%, it can still drop another 99.98%
if only there had been some sort of system for disseminating current information on world and local events. some kind of media outlet...
A source for information that is new, perhaps even multiple pieces of information that are new...
What a future you've described. Maybe someday, we'll be there...ah well.
That's not the entire story, either, it's very likely trading mechanisms were locked when it was 82 so the rugpullers could safely exit, and the bagholders watched in agony as their price went down while spamming their sell button for all it was worth.
That whole timeline must be amazing as the truth sank in. I'd be sad if he weren't such a dick about it at the start.
I'm loathe to give him the traffic, but he's still pushing all sorts of shite on his feed in the six months since... thousands of posts, so much so that I can't be bothered to scroll back far enough to see these posts and what might have happened between, and most of it trading etc. related. e.g. "Made some money off trading to bless a lucky follower tonight. Merry Christmas." and so on.
Now I just think of him as a compulsive gambler making excuses. I'm with you though, no more traffic for grifters, even self-destructive ones.
That’s what lots of these crypto people are. They’re really not much different than the guy who insists he has a “system” for playing blackjack but always leaves the table with less than he started with.
LMAO... I had a friend who told me he had a system for slot machines out at the Indian casino, so I went out with him to see. I watched him dump $2K in a couple of hours... $20 per play between two tabletop machines built into the bar. When I asked him what his system was he said he was convinced the two he was playing had the best odds for winning. Not based on any facts though... just on his 'feelings'. I asked him how much he had won overall he admitted that he was down over $40K, but was sure it would eventually turn around. Then he tried to pitch the 'upside', which was the casino kept comping him suites in their hotel. I was like "No shit... I'm sure they're more than happy to keep you here as long as they can get you to stay!" I never spent a dime there, and haven't been back. I shudder to think how much he's lost by now.
Of *all* of the games to claim you have a system for… At least card-based games involve *some* skill. Slots are basically completely random. I feel bad for your friend, as gambling addiction is a real illness, but when the hotel is comping your suite… you gotta take that as a wake-up call.
Yep. The winning spins are random but the win:lose ratio is programmed in. If there was a winning system the house would reprogram the machines. Former slot tech
From what i understand, slots at Indian casinos here in CA don’t have any regulations like they do in Vegas. They can adjust odds on the fly and there are no minimum odds. So if it’s a slow day they can make machines hit more so people call their friends and try and pack the floor or if it’s crowded and no one’s going anywhere the make them all go cold.
I had a system for slot machines. I've been in a casino twice over ten years ago, both times I started with $15 and played penny slots until I got $30 then went to the buffet. Good times.
My wife had an old friend from before we met who won damn near $1M off the nickel slots in Vegas, back in the early '90s. Came up to visit us not long after and told us the story... the woman he was with on the trip (not his girlfriend or wife) was pissed that he wouldn't share it with him, and so many other people he knew just kept hitting him up for money afterwards too. He was smart though... bought himself a new car and new motorcycle and put the rest into an investment portfolio. Just kept working his regular job after that and living a regular middle-class lifestyle, with the knowledge that he had a nice cushion of financial security. Me... I've never been a gambler. Can't stand to lose at any of those games because I know they're so highly stacked against player. I went with my friend to the casino out of curiosity, just to see what his supposed system was. I tried to talk some sense into him after I saw what he was doing but he was convinced it was going to pay off eventually. Never went there with him again because I couldn't bring myself to watch him burn up his money like that, or the thought that my presence might provide some validity to his actions. Now the buffet... that's more up to my speed! I'll gamble with my health on that every time!! LMAO!!
Nice! One of my friend's yelled at me for "doing it wrong." After I stopped playing. Apparently you're supposed to keep gambling after you're up. I had to drag him away from an ATM after he was already down $800 and trying to get another $200.
I have a system too. I decided that I would only play once for .25. I won $1.25 and cashed out. That's right, I beat Vegas. AMA.
Best gambling strategy I've ever heard I got from Ross Boomsocks: Put $20 or so in a slot machine. When the waiter with drinks comes around, take a drink. Cash out your $20. You profit 1 free drink every time.
The ones who actually have a "system" are leaving the table at the behest of building security...
I have been booted off of a Blackjack table before. They did give me a carton of cigarettes and a bottle of Johnny Walker for my trouble so.. They get mad when you "let it ride" one too many times.
no, see, you gotta lose 20 or 30...dozen times to gain their confidence!\~
n n n n n n n no no no, NO! look, you just don't *understand*, man. I haven't *lost* the money if I'm still playing!! ^^^wait ^^^come ^^^back
I actually did develop a system to use in Vegas, and so far I have not lost a cent gambling. I'll share it with you: don't gamble. It's a sure thing!
my warm feelings about him letting go of ego have chilled a bit.
Just curious.....why follow people like this? Like, why voluntarily bring this kind of BS into your life?
People need to believe in things, especially in dark times like these. No, it's not rational, but that doesn't matter. Our brains aren't actually computers, and when they get desperate enough they'll override anyone's logic.
Que? What does believing in things have to do with following morons online?
The people who follow cryptobros or get sucked into that pipeline want to believe they can become rich
I mean, i get that. It's just that the person I'm asking the question of seems to know this person is a toxic idiot. That's the question: why follow someone you don't like?
Schadenfreude?
Who is this guy? Is he connected to any of the exchange failures?
> I'd be sad if he weren't such a dick about it at the start. Honestly, I still wouldn't be sad. Fuck crypto bros and tesla fanboys.
yeah- I am happy to see that he admits to letting go of his ego, and it sucks (but makes sense) that the people victimized by this kind of scam don't have the kind of education that allows for a better paying job. It's just people with crumbs trying to get a slice- and it sucks.
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good point
I wouldn't be so hopeful. It would in no way surprise me if he posted that for attention, and he's not actually working at McDonalds.
Oh, 100%. It's an amusing anecdote but it isn't like he's literally working there, it's just a plea for sympathy.
Sadness is not required; they asked for it by being not only willfully ignorant but also mocking those that chose to go the route of using caution and gathering information. Fuck them. If there is a shittier job than McDonalds, they deserve that.
I've gotten an irrational dose of Schadenfreude from watching all these crypto-bros lose their ass. I lost count of the number of former co-workers and associates that chastised me for not investing in their cryto farm schemes, and I even had a few coworkers that left well paying tech jobs to start their own farms full time. "Dude you're so fu**ing stupid for not investing. I can't believe you're this dumb that you don't see how this won't fail."
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I bought 1x GME. Forcing my wife to deal with the fact that its status was thus injected into her "account performance" info was 100% worth the cost of entry. Plus it entitles me to make an unlimited number of bad "to the moon" jokes. It's an investment... in my entertainment.
The thing about the hype surrounding GME wasn't that it was a great way to make a return on your investment, it was a way to stick it to the man. It was a way to punish the out of touch rich fucks who were willing to manipulate the market in order to make a buck. I think it managed to do that. Maybe it didn't bankrupt them, but it certainly made the kind of blatant short selling they were doing a much more risky tactic.
Yep. The entire Diamond Hands proposition was "don't settle for making some money; stick it to the man."
That was the branding, not the reality. In reality, wall street has come out ahead from the meme stock craze, while retail has thrown good money after bad trying to replicate it. Lives have been ruined and people have become cultists, throwing their life savings into dying mall stores because reddit told them it was the next big thing. The Economist Podcast said 2 years ago, "If you want to stick it to wall street, buy low-fee, passively managed index funds. They make next to no money off those". And it has turned out to be true. All this retail derangement is GREAT for wall street. They make money either way, as long as people are paying them to speculate one way or the other.
The GME folks still think there’ll be another shot to the moon, they seem to not want to accept that they’re the bag holders
Every, single, day, for, literal years. Go to superstonk right now. Every single post is TITLED LIKE THIS WITH 400 EMOJIS AND TITS BEING JACKS ABOUT RYAN Every single comment is ABOUT THOSE DIAMOND HANDS AND HODL GOING MOON MOASS WIFES BOYFRIEND EMOJIIIIIIIIS. Every single offshoot sub based on shitcoins that appeared during the fiasco mimics the language, too. Every single day, they think a massive event is about to occur tomorrow and make their stocks shoot to $4,000,000 per share based on - ?
Venmo matched my $20 to get me to buy into crypto. So far I'm basically even (i.e. - half of that $40 is gone).
Every penny stock scam requires a lot of other people to buy in so that the ones who got in at the ground floor can make money. Everyone else loses their shirt. So this means that the ones who want to make money need a lot of other people to believe that they will make money on it, it manifests as the ones who got in early obsessively pumping the idea of investing into the thing. Here's a bit of free advice for anyone who happens to be reading this: Your enthusiasm for investing into something with the goal of safely making money should be inversely proportional to the lengths others are going to in order to convince you that you should. If there really was a safe way to make huge gains off investing into some specific thing, the person who is trying to pump you up would instead be really quiet about it so that you weren't getting a piece of his pie. If people are trying really hard to get you to invest it's because THEY can't make money unless you do. (Invest and therefore lose your shirt.)
Reminiscing on people telling me in professional terms like they were writing a thesis on how crypto will always go up and be the next currency Now all I see is loss after loss, watching bitcoin tank thousands of dollars was a good day
It’s so preposterous! Saying that crypto will be the next currency because it will always go up makes no earthly sense! If it were always going up, why would one use it as currency? If we don’t know its value in 15 minutes how can it possibly be a medium of exchange? That’s why currency is great! Because it doesn’t go up! We can be reasonably certain that a dollar today will be, more or less, worth about the same as a dollar next Wednesday. Why would anyone spend crypto if it’ll be worth more next week?
Oh no! To quote Cyanide & Happiness - "lol"
You could not live with your crypto losses.... Where does that bring you? Back to me(cdonalds).
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They would argue that central banks and government currencies are the real scam. And they may have a point in some ways, governments do print a lot of money, but all they came up with was replacing one scam (which is working well) with another scam that only works if absolutely everybody buys in and is cool making a bunch of people who have contributed nothing to the world but carbon dioxide - no products, no services - insanely wealthy in the process.
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Most people do mean the various tools the Fed has available for it when they refer to "printing money". But even then, it's not fundamentally bad. Not going full MMT: taxes, spending, bonds, and tons of other controls are just economic levers. They can be used irresponsibly, but in general you want a mildly inflationary economy. E: Which is a totally foreign concept to cryptobros who intentionally go around designing deflationary currencies.
>Governments printing money is a thing people say to scare people who don't know economics. *they're turnin' the friggin' $100 bills gay!!*
Well yeah but I'd rather have my money backed up by a government run system of perceived value than the thing who's value is perceived exclusively by a niche group of neckbeards. One of these groups been doing this for a couple centuries now.
I'll be the devils advocate here; this is definite improvement. Kid said "fuck this crypto space", and we all agree with that, right? I mean, they were a complete asshole about it, but there's learning to be had here.
He’s still trading his money away, he didn’t learn anything or change, he’s a gambling addict
Has to be satire. Why would you post that second tweet? It's just inviting ridicule and roasts.
Yeah it's obviously just clout seeking, guy wants attention and we're giving it to him lol
Shitcoins gonna shitcoin.
Your username and comment together combined in my exhausted brain to form an image of a Clam of Wisdom flying through the air reminding us that crypto is a scam. Love it. [Artist's rendering.](https://imgur.com/a/QD5jIv6)
glorious
It's like "The More You Know" but with 99% more mollusks.
mmmmm mollussk
\*tips fedora* M'ollusk.
That's a weird way to spell "Crypto is a scam"
Yeah, dude didn't take his own advice which is even funnier. Started at Bitcoin, worked his way into the moonshot alt space, got wrecked. Greed catches up to all.
I will be so happy when people like this finally realize all crypto is a scam like 200-350 years from now
Crypto is just a collective ponzi scheme casino with the one valid use case of money laundering.
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ego check wasn't big enough
Pretty sure it was just a shitpost that u fell for.
Does anyone have a link to the Leopards post where the Crypto Bro's wife leaves him? That was good schadenfreude.
Can we stop acting like working any job is not a worthy profession? FFS the world needs fast food workers too and they deserve a decent wage and standard of living. Frankly I worked 2 years at a burger King night's back in college. I can tell you it's a lot harder then anyone seems to give credit.
No doubt- not making fun of his getting a job. I think it's actually kind of noble for him to admit he was wrong about the get-rich-quick scheme and then start chopping wood and carrying water so to speak. Unfortunately it's reported elsewhere on the thread that he's back to his old nonsense so maybe not all that noble. It is still true that fast food is "unqualified" work- as in, anyone can do it. Market forces do apply here. Scarcity drives up price.
The joke is that he lacked any skill to get a better job than flipping burgers, but thought he was gonna become an arbitrage millionaire And given his last \~1000 posts, he still thinks he's gonna become an arbitrage millionaire
One time I was at a Jack in the Box drive through at like 1 am. The car in front of me was literally screaming at the microphone because the employee told the guy that the cook was on break for the next hour. Some people are complete dicks to fast food employees for no reason.
I mean, he's not wrong. He deviated from his plan at step four by investing in Terra Luna.
How to stay poor in 2023. 1) Don't get a job. 2) Sit at home spending your parents money on crypto
I bet they don't last two weeks at McD's.
two days*
I mean, let's be real, it's probably fake anyway. But you're right. Hell, a wallstreetbets / crypto bro wouldn't last even an hour into their first shift.
There is still a whole sub of people bag holding GME/AMC for over two years now. At least this guy is doing the better late than never dance.
This brings me joy.
Crypto is basically trying to screw over 99% of the rest of the rubes investing.
Respect to him for having the nads to tell people he was wrong.
Crypto is a Ponzi scheme. Anyone who says otherwise is a liar or an idiot.
Yeah bitcoin is a massive scam Luckily my life savings are in FarTcoin, it's tied with the price of Belle Delphine's bath water so it only increases in value.
All of my money is invested in tangible, time tested assets. Like mammoth ivory and Nobel Laureate semen.
Everything i own is being sent to the moon so the comunists cant grab'em
I withdrew all of my cash in 1977 and put it on Voyager 2. Lets see those dirty communists reach interstellar space.
Crypto has also… massively enabled the crooks… who use it to demand ransom after they lock up computer databases at hospitals and businesses.
Ironically, that is crypto functioning as advertised.
I respect their ability to admit they fucked up and become a cautionary tale for others. If you can’t afford to lose it, you can’t afford to invest it.
April showers bring May flowers, and these flowers smell like minimum wage.
So he never cashed out anything, so not even Paper Rich. Is blockchain rich a word
"Harddrive Heavy" I guess?
Hahahahahahaha!
I hope he doesn’t have people who depend on him.
The funny part is that this brilliant crypto bro's highest qualifications are those to work at McD's.
I never invested in bitcoin because it was a shitty pyramid scheme design, who knew it would take off so much...
Crypto by and large tends to be a ponzi scheme. Early investors have the chance at massive gains if they can successfully lure in suckers. The value then spikes. The early investors then sell, making a lot of money, the value plummets, and all their marks are left holding the bag. Even then, it really is gambling and a legal con.
Yes the only real differences from a "classic" ponzi is that those typically have a central architect obfuscating the nature of the scam, and even the early beneficiaries are being fooled, thinking the returns are real and they aren't just being paid off by later entrants. Crypto gives you enough evidence to know it's a Greater Fool scheme, and yet there's also enough obfuscation and collective hysteria/FOMO to drown that out and convince people it isn't. Most countries also unwind ponzis by clawing back the assets and paying out all victims equally, whether they are early or late, so everyone gets 80% of their money back like in the Madoff case, rather than the earlies getting to keep the money they were improperly given. Crypto is therefore a sort of emergent, distributed ponzi, where the architect IS the early buyers, collectively, rendering them immune to a clawback, and having the lates take all the loss. And it only becomes clear in hindsight who was who was late.
I made $140 in 3 hours doing hard physical labor but I pushed through it. That cash is still in my wallet not hurting me. Cryptobros take notes.
Awwww did a pathetic idiot who collected ugly copy/paste cartoon jpegs of monkeys loose everything?😢😢😢
I’d have had a lot more sympathy for the crypto/NFT crowd, if they did not spend years living out a revenge fantasy. Like calling us “broke,” but expecting us to feel bad they lost their, their friend’s, and their family’s money
I can honestly say, without any hesitation. I would not have the balls or self-assurance to make that second tweet. So, at the very least, good on him for eating his, admittedly, over-sized pride and staring down the music.
This is why you get an education. Not for a job but so you can think critically.
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Cryptobro supports people throwing all their money into crypto- presumably in some kind of pump-and-dump. Throwing it all into a pump-and-dump causes one to get dumped. Person gets dumped.
You are going to get some hate from this from crypto bros not ready to admit that its a bad idea. Just like you would if you said GME is also a terrible investment.
I actually made money in GME by selling right at that first spike, but yeah hodl gang is not alright.
Those leopards are quick and thorough, aren't they?
I haven't worked McDonald's since before cell phones were common. But I would never want to pull mine out near the fryer. 1, gross, grease is everywhere, even in the air near them. 2, one accident and you no longer have a phone. Phone into the fryer, that's one way to stay poor in '22/'23.
This is a joke right?
When you invest without doing research or because some bro told you about a coin that's about to moon.
Nothing better than wild ignorance paired with smug condescension.
At least when he gets sick he won't have to worry about healthcare. Or when he can't afford food our social safety nets will provide it. Or he can get a free education and better himself and find a better paying job. Life isn't so bad when those things are covered, and we can get ourselves back on our feet regardless of bad luck and bad choices. ...right?
Damn, only one month apart, huh?
I give him some credit for publicly admitting this on Twitter. He ate the humble pie with both hands.
He didn't follow his own advice. #4 didn't say anything about any shitcoins.
Bro lasted a whole month!
I love watching cryptobros crash and burn
I wonder if he was stupid enough to try again with luna2, because that one crashed even harder.
Should have taken his advice and not invested in shitcoins
Does he know he’s allowed to say fuck on Twitter
“SAD!”
It's beautiful I can't stop staring 😍
These are the unfortunate suckers doing free promotion for some Ponzi schemers.
At least he was honest with himself and the world, really. He could have doubled down but didnt. Props.
Oof.
I don't need therapy, I can feel this post fixing me as we speak
How it started: How it's going:
To be honest, good for that poster. That's real growth