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DFW

(58,194 posts)

30. A margin call would do it, however...

Sun May 25, 2025, 02:36 AM

May 25

The way the post was worded, it sounded like what was meant was losing 80% of an investment, with only 20% left.

Gold positions on paper can indeed be traded. And, it is almost universally accepted that there is much more gold being traded than could ever possibly be delivered if all paper positions were called in. That would be one way to see the price of gold triple, although if that happened, street thugs would be cutting off people’s ring fingers to get at their wedding bands. As it is here in Europe, cops aren’t even reacting any more to street thugs ripping gold chains off the necks of women and girls. When it brought $75, they didn’t bother. Now that the same tiny chain brings $750, they bother.

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No crypto for me. Too dangerous. [View all] usonian May 24 OP

Crypto is BS PJMcK May 24 #1

IMHO, it's nothing more than an electronic Ponzi scheme. nt Phoenix61 May 24 #3

Absolutely! SheltieLover May 24 #4

Nine for me either. Except for its demand, it's a worthless asset. surfered May 24 #2

our problem is not crypto, thats just the greediest bastards in the universe tool .... pbmus May 24 #5

The problem is the greediest assholes in the universe are worse than ever. Initech May 24 #8

If we survive till midterms and pbmus May 24 #13

The biggest priority should be de-Foxing our government. Initech May 24 #17

Fox has few viewers compared to podcasts womanofthehills May 25 #24

But the power they wield in the American government is insane. Initech May 25 #25

It's too close to Ponzi. There is nothing behind it, it's just a bunch of tulips. marble falls May 24 #6

Don't disagree, but the same is true times10 regarding the U.S. dollar with almost NOTHING behind it!! InAbLuEsTaTe May 24 #10

Completely Untrue ProfessorGAC May 24 #14

Guess we'll see about that when tRump's global financial policies lead to hyper-inflation & financial collapse... InAbLuEsTaTe May 24 #18

Thank you. PoindexterOglethorpe May 24 #21

Exactly. DFW May 25 #32

The people who are getting rich off crypto are people who you wouldn't trust with 15 cents. Initech May 24 #7

Crypto preferred by 10/10 KentuckyWoman May 24 #9

In the words of Paul Krugman: FalloutShelter May 24 #12

I guess I'm the loan voice of dissent k_buddy762 May 24 #11

Wait A Second ProfessorGAC May 24 #15

Well, I see it as a long term thing k_buddy762 May 24 #19

How does something fall 200%? fujiyamasan May 25 #26

PUFF Cosmocat May 25 #34

I think the expectation is that bitcoin's price will continue to rise fujiyamasan May 25 #31

Lone, not loan voice. PoindexterOglethorpe May 24 #22

I have some crypto- planning on buying more womanofthehills May 25 #23

If you don't mind me shilling Cosmocat May 25 #35

Interesting k_buddy762 May 25 #36

That's smart. Best to never invest what you can't afford to lose fujiyamasan May 27 #39

You just don't understand the technology/miracle of blockchain/modern investing/money/strategic thinking/the future/econ hatrack May 24 #16

Wise! LearnedHand May 24 #20

I know I SHOULD understand crypto by now DFW May 25 #27

Maybe they were trading on margin fujiyamasan May 25 #29

A margin call would do it, however... DFW May 25 #30

Weird story fujiyamasan May 25 #28

I equate cryto-currency with the derivatives that were so popular 20+ years ago. no_hypocrisy May 25 #33

Posting this past a lot of discussion on crypto, I just wanted to emphasize the danger. usonian May 25 #37

These are magic numbers that are transformed into new magic numbers when you sell them. hunter May 25 #38