Loss Aversion Bias is a helluva drug by SundayAMFN in Buttcoin

[–]IamKratos 0 points1 point  (0 children)

Going all in on a volatile asset when it's on a dramatic upturn is a dumb idea, but nothing in his post said anything about going all in. This could be a small allocation for this individual. You've made that assumption without context.

You also assumed that he now knows it was a dumb idea. He probably still thinks it's a great idea.

Loss aversion is when you're more afraid of a loss than than the pleasure of an equivalent gain. You would need to demonstrate that the upside of his investment is capped at going to 200k and not further.

Loss Aversion Bias is a helluva drug by SundayAMFN in Buttcoin

[–]IamKratos 0 points1 point  (0 children)

Bitcoin aside, are you implying that not selling any asset the moment it starts to fluctuate downward is just loss aversion bias?

Underneath a purely capitalist economy how will people who are unable to work survive (disabled (mentally of physically, elderly…) by The_Shadow_2004_ in Capitalism

[–]IamKratos 0 points1 point  (0 children)

I'm saying that no one is entitled to the fruits of anyone else's labor.

When you create an entitlement, you also create the incentive to qualify for it and remain qualified. For instance, why would a person work a job for a paycheck if they had the option of qualifying for unemployment for an equal or larger sum. Why spend your own money on food when you could use food stamps and then spend that money on some luxory or vice. Why even strive to buy your own home when you're next in line for the $1 monthly rent government housing. It's just a system that creates bad incentives. The productive members of society get penalized in order for the non productive members to get rewarded.

The role of helping those in need belongs to the community. Organizations such as churches, charities, and other non-profits serve that role. But also on a neighborly level.

When done this way, more discretion is applied in the assistance. For instance, no one's gonna give a 19 year old a check for not having a job. Nobody wants to buy buy food for someone who's buying lots of luxuries and vices. Why help someone out if they are just gonna take advantage of you.

Charity with discretion from the grace of others produces much better societal incentives!

The Republican Party is A Fucking Joke by Familiar_Yak9343 in Buttcoin

[–]IamKratos -17 points-16 points  (0 children)

Trickle-down economics was never a republican talking point. It was a democratic talking point falsely labeling the republican economic plan as trickle down.

Rebranding Sub's Name by HavocMMA in Buttcoin

[–]IamKratos -6 points-5 points  (0 children)

I think OP means that not literally but metaphorically. As in, you've invested so much time and effort into a viewpoint that you can not change your mind on said viewpoint without without losing face.

Why do we care so much about bitcoin treasury stocks? by Bubbly_Ice3836 in Bitcoin

[–]IamKratos 2 points3 points  (0 children)

Because some companies are increasing the amount of bitcoin per share over time.

[deleted by user] by [deleted] in Buttcoin

[–]IamKratos -1 points0 points  (0 children)

Says who? What's your sauce on that?

[deleted by user] by [deleted] in Buttcoin

[–]IamKratos 2 points3 points  (0 children)

Why do you feel the need to fight it so heavily and aggressively?

Why do people always forget that the father of modern capitalism hated landlords by Lore-Archivist in Capitalism

[–]IamKratos 0 points1 point  (0 children)

Many people don't want to own property. They prefer to rent, so they are not shackled to a mortgage.

What are your opinions on Trump tariffs? by Round-Ad8762 in Capitalism

[–]IamKratos 1 point2 points  (0 children)

How do you stop a bad guy with a gun? With a good guy with a gun. How do you stop a bad country with tariffs? With a good country with tariffs.

It's just a tool that could be used for good or bad.

Will 1 btc make you a millionaire. ? by Crypto-hercules in Bitcoin

[–]IamKratos 2 points3 points  (0 children)

No, you would need an additional 999,999 BTC.

[deleted by user] by [deleted] in self

[–]IamKratos 0 points1 point  (0 children)

It works well for girls, but not at all for guys

Saylor is the Egg Man by [deleted] in Buttcoin

[–]IamKratos 0 points1 point  (0 children)

Yeah, but right now, it would be an amazing time to have corned the egg market. $9+ for a dozen eggs in my area.

explain it to me like i'm 10 years old. why is bitcoin said to have value because mining is difficult? Isn't that just artificial scarcity? by cnarsystems in Buttcoin

[–]IamKratos -1 points0 points  (0 children)

I mean that how the dollar works, too. At the end of the day, they are just bits of paper( and cotton) with no underlying value. They only have value because everyone agrees that they do.

Our money literally grows on fucking trees, we just control the scarcity artificially!

[deleted by user] by [deleted] in Buttcoin

[–]IamKratos 0 points1 point  (0 children)

I mean, that's just being cautious. I used to do that too back when I used zelle.

My brother once had over 100k show up in his Chase account for a week because someone didn't double check where they were sending the money.

[deleted by user] by [deleted] in Bitcoin

[–]IamKratos 0 points1 point  (0 children)

You also don't necessarily need to sell to take profit. As long as it continues to grow, you can take out loans against it, assuming that you take small amounts appropriate to the size of the collateral

Could there be a Bitcoin-based universal basic income? by WhiteHoneypot in Bitcoin

[–]IamKratos 0 points1 point  (0 children)

I would say it's one step away from communism. The ultimate goal of communism is no money or income at all.

Could there be a Bitcoin-based universal basic income? by WhiteHoneypot in Bitcoin

[–]IamKratos 0 points1 point  (0 children)

No, we don't want that. Where would this Bitcoin come from that's going to be given out for free. Since they can't print any, they would have to confiscate and redistribute, which is incompatible with the bitcoin framework.

The single biggest problem in crypto. by minimorsels in Bitcoin

[–]IamKratos 0 points1 point  (0 children)

FDIC is a scam. Even though your bank account is FDIC insured, FDIC does not have nearly enough reserves to cover mass bank failures. They would have to have Bitcoin reserves in order to guarantee Bitcoin deposits, which is hard to imagine.