The love of money is the root of all game scams.: Page 2

The love of money is the root of all game scams.

cybereality

Oh, that's a cool website. I put in Cyberpunk Decay and this is what I got.

jbskaggs

@cybereality said:

@Bimbam said:

Jim's been nailing this issue for years. If you like hearing about the underbelly of the industry check out his other stuff too.

I usually try to avoid the YouTube personalities, but that is one of his better videos. Really makes a lot of sense and he clearly did some research.

Well this is a very accurate video.

jbskaggs

As a workaholic - I can understand how someone would be sucked into destroying themselves for a bad cause.

fire7side

Slightly off topic here, but I think the sad part about gamblers is they choose the wrong place to put their money in overly rigged areas. You can put pretty small amounts of money into the stock market and it's entirely dependent on your choices. I weathered some tough times by using money I put in there, just selling off stocks off and on. I know people that go to casinos and things and it's just basically throwing money away. I wouldn't recommend it right now unless you choose some very safe investments, though.

jbskaggs

@fire7side said: Slightly off topic here, but I think the sad part about gamblers is they choose the wrong place to put their money in overly rigged areas. You can put pretty small amounts of money into the stock market and it's entirely dependent on your choices. I weathered some tough times by using money I put in there, just selling off stocks off and on. I know people that go to casinos and things and it's just basically throwing money away. I wouldn't recommend it right now unless you choose some very safe investments, though.

Gambling is no different than "investment" addictions. People only view somethings as an addiction if it loses money. But people have thrown away great life opportunities / relationships for "investments." Investments is wise. But investment addiction is the same as gambling or shopping addiction. Losing money is sometimes the smallest aspect of the damage.

cybereality

@fire7side said: Slightly off topic here, but I think the sad part about gamblers is they choose the wrong place to put their money in overly rigged areas. You can put pretty small amounts of money into the stock market and it's entirely dependent on your choices.

Correct, but if you play the stock market like a casino, you are bound to lose. There is data going back like 100 years, and the day traders always lose out to the S&P. Though they think they are making smart decisions, and may win big here and there, the loses even things out, and end up being less than if you just put all your savings in a mutual fund and didn't touch it for 30 years.

fire7side

@cybereality said: Correct, but if you play the stock market like a casino, you are bound to lose. There is data going back like 100 years, and the day traders always lose out to the S&P. Though they think they are making smart decisions, and may win big here and there, the loses even things out, and end up being less than if you just put all your savings in a mutual fund and didn't touch it for 30 years.

Oh yeah. Shorting, lots of things are better left alone in my book. I just mean pick an obvious company that is going to do better, has plenty of market potential, and buy however many shares of stock you can afford. Not a fund, that's for a retirement account, or you could use it that way, but I think the average person can pick a winning stock of something he is familiar with and make money. Hardware companies. Software companies. Things you see that are becoming popular and look like they have years worth of growth. Brokers will try to talk you out of it and by a fund, but you can make more money picking stocks you are familiar with and know they have plenty of market potential in the future. Definitely higher risk. Like I say, I don't recommend it right now because the fed is going to have to raise interest rates because of inflation and it will probably cause a pretty bad correction. You have to also not panic when it drops a bit as long as its not for a serious problem. It's just natural for them to rise and fall with conditions and if you sell during something like that, you will probably lose money. Like I bought Apple a few years back and made 50 percent in one year. I should have held on because it went up a lot after that.

cybereality

Sure, I mean, I'm not against the stock market. I just think most people misunderstand it, and then it's no better than going to Vegas. I've made some money though. Got $17K off AMD stock back in 2017 when it was $2 a share. I originally bought $2,000 worth, within a month it had doubled. So I cashed in another $5,000, and held that for like 6 months. All in all I made $24K (so $17K return in 6 months). But that was super lucky, I don't expect to do that again. In general, people should just either do the S&P 500 for retirement, or buy a safe stock like Apple you know will go up. Don't gamble.

jbskaggs

Not mention the devaluation of currency creates a "tax" on all non tangible assets

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