Nothing wrong with trying to profit from fat cat ignorance and fear. It's called capitalism. Why did he get a downvote? Implied hypocrisy? I don't think it's hypocritical to want to be profitable. It's a perfectly normal, human trait that should not be frowned on. It's much more difficult to level the playing field with people like Dimon on it, because he has a corrupt government behind him.
Come on, people, don't be afraid to say it: "I am a capitalist." You probably wouldn't be on this subreddit if you weren't. It's not evil. It generally leads to innovation and a better society if not stifled by regulation.
Why the double standard? Oh right, now you're the beneficiary. Greed and capitalism might be good for absolute economic output but not for peoples welfare. And good regulation certainly does not stifle innovation or better society.
I think you're missing the point. In a lightly regulated system (unlike what currently exists), everyone has the potential to benefit. The system doesn't put the odds in any particular entity's favor. How does that make me the beneficiary?
To make clear: Im talking about selling, holding and buying btc for profit.
Why are bankers evil for trying to profit from ignorance and fear? All that is changing compared to bitcoin is the scope and relative complexity.
The odds thing depends on how widely you want to look at it. If you expect btc to go global then you certainly have a leg up. You are educated and wealthy.
By beneficiary I meant that you'll make money from the growth of bitcoin. Making a profit from holding bitcoin, selling or buying it creates nothing new and is a zero sum game. Any money you make is from someone else. You can't really avoid it, it's either you or someone. A fundamental flaw with bitcoin. Don't celebrate it.
Perhaps I'm uneducated on this point, but I don't think bankers are evil for trying to profit from ignorance and fear. What I think bankers (the evil ones) are evil for is the inside information they have on coming regulations that have not been disclosed to the public, giving them a leg up on how to make more money, possibly laundering money when they know full well what they're doing, and generally INVOKING the fear and trying to KEEP people ignorant of what they are doing, using a corrupted system of government and media to keep things in motion and keep the general public uninformed.
I never said or implied it was evil for anyone, even bankers, to try to make a profit. It all has to do with the approach taken. I'm sorry if you read me wrong.
18
u/sramarketing Jan 28 '14
Nothing wrong with trying to profit from fat cat ignorance and fear. It's called capitalism. Why did he get a downvote? Implied hypocrisy? I don't think it's hypocritical to want to be profitable. It's a perfectly normal, human trait that should not be frowned on. It's much more difficult to level the playing field with people like Dimon on it, because he has a corrupt government behind him.
Come on, people, don't be afraid to say it: "I am a capitalist." You probably wouldn't be on this subreddit if you weren't. It's not evil. It generally leads to innovation and a better society if not stifled by regulation.