politics
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
view the rest of the comments
Something to remember when reading these numbers is that they aren't real money, they're the possibility of real money.
For example if we ignore the initial coin launch where it spiked wayyyy up and then crashed hard, the price of the coin was ~$16 per coin at the time of the event and likely the number being used in the article.
However just a month or so prior the coin was ~$8 per coin. So if this person was brand new to the crypto game they only needed to have $180k. Now 180k is still some major money and getting that exact exchange requires some luck. However that's not the point. The point is that this individual never had $360k, they only ever had at worst $180k. (It's possible they bought the coin at launch, lost it all and kept it, so maybe they had $720k and that got halved.)
But remember, crypto coin trading is gambling. If 38 people walk into a casino, walk up to a roulette table and each puts $10k on every number 1-36, plus 0 & 00 guess how much money the winner gets? $360k. We write the article about the person who won $360k. The other 37 people are just "the others".
Now if I risk $10k and win $360k I absolutely cash out and call it a day. I'm a winner. But if I don't cash out... Do I still have $360k? I have chips. What if instead I spend the next few months at the casino? What if I spend years in the casino? If I'm lucky my chip count goes up. If I'm unlucky my chip count goes down.
Don't get me wrong. There is potentially real money here, but only if I cash out. Let's go back to our social media influencer. They had $360k when the coin was worth ~$16 per coin. The coin is down and now worth ~$13 per coin or $292.5k. But you know gamblers. Never quit on a winning streak. Never leave on a loss.
So did this person have the ability to have $360k, sure. Did they have $360k, no. (Also this assumes the crypto exchange you have your "money" in allows you to cash out, which is not a certainty. Sometimes they limit how much you can take out at a given time. Sometimes they don't have the money, remember FTX?)
Were not taking about the grifters who got the premine. The attendees very much spent USD to buy this shitcoin