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Bitcoin briefly rises to record high over $70,000
(www.reuters.com)
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this post was submitted on 09 Mar 2024
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Yes, I've heard all that nonsense about how capitalism and rich people are essential for humanity's survival before.
The things I consume and use on a daily basis could be made by corporations owned by the people who work for them, not owned by people whose sole intent is to enrich themselves.
You know what capitalism and investment and the stock market has brought us? Planes that crash because stock buybacks are more important than safety.
Not for humanity, but for the new IPhone plus max 12K whatever the fuck comes out next, yes absolutely. And a worker owned factory would have never had the same level of innovation that the stock market has brought us here. Otherwise all the "worker owned" (lol) factories and countries wouldn't be trying to steal our shit all the time. The AI chips and all that shit would have never been, at least this soon, without making shareholders money. I hate it too dude I agree its fucked. But that plane you linked would still be a prototype in a military factory somewhere never seen by civillians if it hadn't been in a position to make tons of money to have it available to the public. I knwo that sucks dude, but that is the truth. To deny it is to lie to yourself. I will say that stocks serve a greater function than crypto there's no doubt to that. But to say one is a big scheme designed to fuck the little guy but the other one isn't is just false. So why can one be celebrated and welcomed by society (otherwise people sure wouldn't spend money on the new IPhone 12K whatever) and the other one people be called an asshole instantly if they think "man wouldn't it have been cool to have been in on that?"
Why would I give a shit about an unnecessary and wasteful new phone coming out? And why are you calling that innovation? What innovation?
Also, a huge amount of innovation, including the internet you're using right now, was government-funded.
It's a myth that capitalism is necessary for innovation.
You seem very invested (no pun intended) in the idea that gaining material things and money are what people should have as goals.
The phone thing directly affects competition in the proprietary chip market which affects the phone or laptop or other electronic device you are using to comment on here. The entire system and way of life you live is directly tied to the success of the stock market and in turn economy that system produces. And yes I am very invested in feeding my child, gotta have money to do that. I truly envy those who have never been homeless and have always had family and support to help them, maybe those people wouldn't understand the value of money the same way because they never had to steal for their food or starve. By the way, after I made this argument Bitcoin surpassed silver to become the 8th most valuable asset in the entire world. More than Coca Cola and Pepsi COMBINED. Being upset about it or wishing it didn't exist won't make it go away
"Capitalism isn't going anywhere, therefore it is a good thing" is a strange argument.
"Capitalism affects everything around me that I use daily" is the actual argument. And it does that through the stock market which you said yourself is like a gamble of money. But no, Bitcoin is the problem and everyone's just an asshole if they trade it or make money on it is what you had said to that dude. But not the hedge fund worker you give your 401K to?
I don't have a 401k. Why did you assume I had a 401k?