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dreadpiratew t1_j6f70bp wrote

Reply to comment by vrythngvrywhr in TIFU by buying too much crypto by Colinian18

Stocks are as much a pyramid scheme as crypto. It’s all just a popularity contest. Profits don’t matter unless they make you more popular. Losses don’t matter unless they make you less popular.

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vrythngvrywhr t1_j6f7af4 wrote

Actual partial ownership of a company with assets, and profit recognized by law vs actual partial recognition of ownership of numerical bits of a mathematical chain serving no purpose.

Sure thing buckaroo.

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dreadpiratew t1_j6f7jjz wrote

Your “ownership” means nothing unless you are buying a significant portion and voting, contributing to company decisions. It’s really no different than crypto, seriously think about it.

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aussie_nub t1_j6f8o8y wrote

If the company is liquidated, it has actual assets to sell. Bitcoin does not. You're 100% guaranteed a return of $0 when they tank but a company sells up all their assets and then pays out creditors in a particular order. Shares are usually last, but at least there's a reasonable chance you'll get something in return, even if it's only a fraction.

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dreadpiratew t1_j6f9hgu wrote

It’s still just a popularity contest - stocks and Bitcoin. If they are popular, they go up. Your “share” in a company is really no different than your fraction of Bitcoin. It’s just some mystical thing.

And technically, If you look at history, it’s more likely that your stock will go to $0 than Bitcoin.

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aussie_nub t1_j6f9ys3 wrote

>And technically, If you look at history

Companies have been around for hundreds of years, bitcoin is just over a single decade.

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vrythngvrywhr t1_j6f80io wrote

You're right. If the company goes tits up I'm like seventh in line to be paid.

If crypto goes tits up there isn't a line to get money back.

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magnificentmemer t1_j6gkmsd wrote

Ownership means nothing unless you're directly registered. If you own shares in a brokerage, you don't have true ownership of the company.

Fun fact of the day.

Overall I agree with your point though.

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