this post was submitted on 28 Jan 2025
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[–] [email protected] 24 points 5 months ago (2 children)

Stock investing isn't about underlying value. The company itself is almost irrelevant. Stock investing is about predicting stock investor sentiment.

[–] [email protected] 20 points 5 months ago (1 children)

That's not a traditional view of investing or the manner in which securities are built to be valued, but it is admittedly the modal paradigm to which we are subject.

[–] [email protected] 9 points 5 months ago (1 children)

Which is why NFTs work. They're refreshingly honest: They represent nothing of any kind of value, yet are valued. Something something fetishism.

[–] [email protected] 7 points 5 months ago (1 children)

A part of me loved the idea of decentralized finance (punk as fuck if it hurts centralized finance) and was rooting for NFTs if they were going to be used to restore ownership rights for digital property but... That's not what happened. It's all grift.

[–] [email protected] 2 points 5 months ago

There's something to be said that bitcoin and other crypto like it have no intrinsic value but can represent value we give and be used as a decentralized form of currency not controlled by one entity. It's not how it's used, but there's an argument for it.

NFTs were a shitty cash grab because showing you have the token that you "own" a thing, regardless of what it is, only matters if there is some kind of enforcement. It had nothing to do with rights for property and anyone could copy your crappy generated image as many times as they wanted. You can't do that with bitcoin.

[–] [email protected] 6 points 5 months ago (2 children)

Fancy word foot work for "speculation"

[–] [email protected] 2 points 5 months ago (1 children)

Certainly. But very few people really do value investing anymore. Even professionals.

[–] [email protected] 2 points 5 months ago

agreed, we are making the same point. Very little in the world of investment seems to be based on actual value anymore

[–] [email protected] 1 points 5 months ago (1 children)

Fancy way of saying "gambling"

[–] [email protected] 2 points 5 months ago