Wall Street set to pour money into Bitcoin (NY Times)

[The Dharma Bum]

F.U.D

[The Dharma Bum]

It doesn't matter how "good" other traders are. It matters how good you are. The only one that can beat you is yourself. People said the same thing before I got into real estate. "It's a bunch of sharks, you'll get eaten alive".

Well, it's not for everyone, that's for sure. But I like it. I look at it as free money just waiting for me to come and get it.

[eric]

[exploited]

I love how Dharma has become an evangelist for the very worst form of high-risk capitalism.

Just lol.

[The Dharma Bum]

[eric]

That article is completely unrealistic, and full of assumptions and oversimplifications of the nuances of market trading.

"Nobody has to short" Yeah ok. Because that's how things work.

Explain to me why there are "winners" and "losers in the market Dharma. Please.

[eric]

For example, your guy that sells his stock for $50, and the guy that buys it and turns around and sells it for $70, made $20 at the expense of the guy that purchased it for $50, since he lost the market value increase.

Then they both pay brokerage fees.
Then they eat inflation.

Really J.P. Morgan and Goldman Sachs win if you want to get right down to it.

And while there are certainly cases where individuals make money betting on the right stock/currency/whatever, it's not true for the majority. It's really bad advice for most people. You making money on bit coin or whatever is just an anomaly and really isn't worth consideration. You apparently have time to follow this stuff. Most people have kids and shit and don't have time. So saying "oh hey go buy yourself 50 bit coins they'll hit $2,000 next year" can really hurt somebody that doesn't realize that it's f**k gambling.

[The Dharma Bum]

One of the advantages of forex trading is the brokerage is paid from the bid/ask spread rather than commissions. If there any they are tiny. Other advantages include liquidity, price certainty (not much slippage), 24/7 trading, and guaranteed limited risk.

And, Eric you can start a FOREX account for as little as $25, and even start a free demo account to practice on until you feel confident.

I'm trying to give you the tools so you don't have to be a F.U.D. Take the class, and try a free demo. Find out these things for yourself.

[The Dharma Bum]

Well, you're probably busy with school and shit, don't do that.

[eric]