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Subverb ,

“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.

a final gesture of good will to the people of this little planet that have given…

Tikiporch ,

Stocks are on sale, that’s all monied folks see.

DemBoSain ,
@DemBoSain@midwest.social avatar

Wait…is money fake?

Hydra_Fk ,

I only pray it was a literal bloodbath.

azimir ,

That’s a good start.

Evil_Shrubbery ,

That’s not even a start really.

metaStatic ,

Bulls make money, bears make money, pigs get slaughtered.

Buy low you apes.

cynthorpe ,

Gotta have money to invest to invest.

metaStatic ,

Fuck. What a scam.

TheDemonBuer ,
@TheDemonBuer@lemmy.world avatar

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.

TheBigBrother ,

Since the economic system gone fully electronic there is nothing which can stop adding another 0.

NotMyOldRedditName ,

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.

TheBigBrother , (edited )

Not if you(your group) control the 80% of BTC.

Did you ever heard of the Crypto Whales?

NotMyOldRedditName ,

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.

TheBigBrother ,

Mate there are easier ways to add a 0 and Im not talking about literally adding a fucking 0.

NotMyOldRedditName ,

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?

TheBigBrother ,

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.

NotMyOldRedditName ,

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.

TheBigBrother ,

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.

NotMyOldRedditName ,

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.

sapphiria ,
@sapphiria@lemmy.blahaj.zone avatar

The implication that capitalism will be with us until the heat death of the universe is soooo depressing.

Spitzspot ,
@Spitzspot@lemmings.world avatar

A teaspoon of progress. Now grab a shovel.

return2ozma OP ,
@return2ozma@lemmy.world avatar

Paywall removed archive.is/s9SGG

MediaBiasFactChecker Bot ,

Fortune Magazine - News Source Context (Click to view Full Report)Information for Fortune Magazine:
> MBFC: Right-Center - Credibility: High - Factual Reporting: High - United States of America
> Wikipedia about this source

Search topics on Ground.Newshttps://fortune.com/2024/08/05/billionaires-134-billion-wiped-from-fortunes/

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