They'll get it back. Dips are only ever temporary and markets always go up, over time. This will be true forever, until the heat death of the universe.
this post was submitted on 06 Aug 2024
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The implication that capitalism will be with us until the heat death of the universe is soooo depressing.
capitalist realism
I think capitalism's resilience has surprised a lot of people. Although, maybe it shouldn't have. As long as capitalism is able to make some people unfathomably wealthy, there's no reason to believe it's going anywhere.
Capitalism has been with us since basically the beginning of humans if you think about it. The odds of it dying is about the same as you winning the powerball lottery 6 times in a row.
?
Capitalism is a very recent concept in human history.
Only by conflating economics and capitalism could you come to the conclusion you just did.
If you consider capitalism to be exploiting labor for profit, sure. If you consider it the relatively precise description advanced in the 17th century onward, no.
Agreed, capitalism, in it’s textbook definition form only started existing around the industrial revolution when it succeded the mercantilist status quo.
Exploiting labour for profit can happen in any economic system, in practice.
how could a government system based around money have existed long before money existed? let's think things thru before we post
Don't need currency for capitalism. There is bartering. I could start a company and pay my people in eggs bacon and cheese
That's only true for as long as growth under capitalism is possible, and until we have access to infinite resources, infinite growth is not possible.
I suppose it will have to stop growing eventually, but who knows when that will be. I don't think anyone knows where the limits to growth are. By many estimates we are already exceeding some ecological boundaries, significantly, in some cases, yet growth continues more or less unabated. I don't expect I'll see an end to growth in my lifetime.
Since the economic system gone fully electronic there is nothing which can stop adding another 0.
You cant add another 0 to bitcoin unless you figure out how to convince more than 51% of miners to do it, the majority of users, and not collapse the price at the same time.
Not if you(your group) control the 80% of BTC.
Did you ever heard of the Crypto Whales?
Wtf are you even trying to say.
To make a change to the protocol, you need 51% of the miners to agree and implement it when blocks are mined.
But 51% of the miners isn't enough because the users themselves can also revolt and fork away, which would destroy the price.
To add a 0, you'd need a massive (*super) majority buy in from all sides.
How much bitcoin anyone owns, even if someone owned 100% of it, has absolutely no bearing.
Mate there are easier ways to add a 0 and Im not talking about literally adding a fucking 0.
Then enlighten me, what does
Since the economic system gone fully electronic there is nothing which can stop adding another 0.
What are they adding the 0 to? Why does it have to be with our system being electronic?
An electronic system it's easier to manipulate and it's infinite, so if you thought capitalism will fall like Marx said, you are pretty wrong nowadays, capitalism it's virtually infinite.
And how exactly does that allow you to electronically manipulate bitcoin to a virtually infinite amount?
I'd love to know how you plan on creating more than 21 million bitcoin or altering your bitcoin balance.
You don't need to control Bitcoin, you just need to control the market.
If you control the market you control the price. You can add 0 or quit 0.
An electronic system it's easier to manipulate and it's infinite
But Bitcoin isn't infinite.
How exactly are you going to control the market to the point that you can infinitly manipulate it because it's electronic?
Our fiat system is, it can be inflated as much as they want. Someone just presses a button on a machine and bam, there's another billion dollars in circulation.
Edit: I saw your edit late. Do pray tell how you can make Bitcoin easily be $560,000 USD because it's electronic.
Bitcoin isn't infinite but Bitcoin value is, if you control the market of Bitcoin(you have a lot of it) you can control the offer and demand of it selling or buying big amounts, that way you can add or quit 0 WO having to modify the amount of bitcoins on the market. As it is an infinite divisible currency you can always buy or sell fractions or units of it, so it doesn't matter how much Bitcoins are out there the important thing it's the value.
Well, your claim is because it's electronic nothing is stopping adding a 0.
If you owned 100% of something, you can demand any price you want, but it doesn't mean people will be willing to buy it at the price, and if has exactly nothing to do with being electronic.
Whales can throw their weight around to try and manipulate the price, but they ain't making it 560,000 USD or 5,600 USD at a whim. If they could they would.
"swiped from their fortune"... If my 401(k) fell in half overnight, the media wouldn't say it was swiped from me, they would say my retirement saving has "sagged" or somesuch.
For us old-timers, it reminds me of this scene in the Carl Sagan movie Contact where the ultra-rich SR Hadden played brilliantly hy John Hurt is talking to Jodie Foster's character, Dr. Arroway.
The terms we usually use are "wiped out". It happens fairly often
Holy shit my 401(k)s went down by around 8% which means Fortune article on me when‽ I lost more than Bezos!
His character hilariously still did more with his money for Earth than the real life billionaires. "Why build one, when you can build two for twice the price??"
...And yet they are all still billionaires.
Remember this in the future when you hear these people complain about higher taxes, they weathered this "loss" quite easily. So they can weather the "loss" of some of their wealth to actually support the country that allowed them to make billions in the first place.
Bulls make money, bears make money, pigs get slaughtered.
Buy low you apes.
Gotta have money to invest to invest.
Fuck. What a scam.
I hear if you just don't eat avocado toast and put $20 in a saving's account every week from when you turn 18, you can invest in Bitcoin and become a billionaire.
I can’t live without my avocado toast and $15 cup of corporate coffee.
Just buy some. Duh
I don't really know what any of that means.
Wait...is money fake?
Imaginary bullshit, at least this part.
And yet he still has so much money that if any one of us picked up a $20 bill every second for our entire lives, we still wouldn't come close to having the amount of wealth he has.
It's just obscene.
Wake me up when all billionares have lost so much money there are none left.
That's a good start.
That's not even a start really.
Awww poor fucking diddums. Won't someone think of the multi billionaires?
A teaspoon of progress. Now grab a shovel.
Good.
Stocks are on sale, that's all monied folks see.
I only pray it was a literal bloodbath.
What’s more, a report from the Labor Department indicated the U.S. economy added around 61,000 fewer jobs last month than expected.
Plus, with unemployment at 4.3%—the highest since October 2021—concerns of a looming recession are getting louder.
Yet they kept telling us we were fools for not believing their "strong economy" stories.
Buy the dip!
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