/biz/ - Business & Finance

Just like with BTC
The only Englishman who knew real value of South Sea Trade were pirates

>>9576423

WHAT HAPPENED IN THIS SPECIFIC SITUATION? PLEASE LET ME KNOW. KEYBOARD IS NOT STUCK ON CAPS I JUST AM TOO LAZY TO CHANGE IT THANKS

>>9576462
brainlets bought the top, just like today. 300 years and nothing has changed

>>9576423
whew

>buy the dip
>bullrun anytime now
>accumulation phase
>rock solid support at 100
>100k EOY screenshot this
>kys no-SSC fag

>>9576479
And it never will. Normies are predictable idiots.

YEAH BUT WHAT WAS THE SPECIFIC SITUATION WHAT WAS THIS COMPANY AND WHY WAS IT SHIT DUDE

>>9576498
Same as always. Normies FOMOed in and eventually realized the whole thing wasn't worth nearly as much as they thought.

>>9576498
holy shit just google 'south sea company' its not that hard

>>9576498
look up South sea bubble you lazy fucking clustercunt

>>9576498
doesn't matter this is how speculation always happens
Its a reflection on human psychology

im a brainlet
can you please tell me what i shuld do
i know nothing about crypto

>>9576538
Buy the dip obviously

>>9576547
buy what

>>9576705
buy dip

>>9576493
the collective idiocy of human population is much higher than in those days. Expect bigger bubbles.

>>9576751

YOUR THE IDIOT SIR I GOOGLED THE THING AND IT CAME UP THE COMPANY FAILED

>Early in the year, “[Sir Isaac] Newton dumped his South Sea shares, pocketing a 100% profit totalling £7000,” he writes.

>“But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price—and lost £20,000 (or more than $3 million in today’s money). For the rest of his life, he forbade anyone to speak the words ‘South Sea’ in his presence.”

Guys even a literal genius got JUST’d by this shit. How will we ever make it?

>>9576794

This makes me feel better about only getting JUSTED by 30%

>>9576794

FOMO IS STRONG AND DEPRESSION IS REAL BROTHER
MASTER YOUR EMOTIONS AND MASTER THE MARKET

>>9576794
>literal genius
>get's bitconnect'd harder than fucking bitconect.
yeah, the guy was just a gready fomo nigger

>>9576794
>For the rest of his life, he forbade anyone to speak the words ‘South Sea’ in his presence
The original pink wojak. Proof you can still make it without crypto though.

>>9576794
Chad sold at the top because he needed boats and hoes money. Don’t overthink this stuff.

>For the rest of his life, he forbade the word Bitcoin to be spoken in his presence.
>t. 2020

>>9576794
lmfao

and also died a virgin

>>9576885
kek. tru /biz/ bro
was he, dare I say it, our genius?

where did he go wrong

>>9576816
You sell? Otherwise you'll liable to be JUST'd for more.

yep ssb = unkillable revolutionary tech

there has never been an s curve up take

>>9577048
kek saved

>>9577191
ty anon i worked hard on it

>>9576885
>>9576920
Feels good knowing that Sir Isaac Newton's reincarnated spirit is probably posting on 4chan right now

South Sea Bubble- Wikipedia:

>selected individuals purchasing shares were given loans backed by those same shares to spend on purchasing more shares

Sound like the USDT/BTC money printer?

>>9576423

>Comparing a government run company with an unregulated currency

You have to be 18+ to post on 4chan fren.

>>9576882

Underrated.

>>9577675
Whether it's companies or Beanie Babies, basic human psychology hasn't changed. In the end pretty much every bubble looks the same.

>>9577850

Wrong, all speculative bubbles in history that have collapsed have done so due to changes in the fundamentals of the underlying asset.

>South sea bubble
Collapsed due to government 'cooking the booking' as many MPs were invested in SS.

>Enron
Collapsed due to fraudulent accounting

>Dot com bubble
Collapsed due to an inability for corporations to pay their employees based on assumed revenue that never materialised

The reality is very few 'asset' based 'bubbles' have truly ever collapsed, this is also why assets have many 'minibubbles' in them, but ultimately any asset that derives its value from scarcity will retain its value over a long enough time period. Beanie babies weren't actually scarce, hence their collapse. Consider diamonds, art, precious metals.

>b-b-but my industrial applications!
Does not account for even 10% of the wealth maintained from precious metals. As older members of the population die off the mentality of what is valuable is fundamentally changing. It may seem insane to you that something like bitcoin, a bunch of 1s and 0s, will rival precious metals in value, but it would also seem insane a few decades ago that 14 year olds would spend 100 USD on fortnite skins. Society, culture, evolves and changes, the younger generations exposed to computers their entire lives, will be far more able to conceptualise something purely digital as having value. Even diamonds have their price propped up by artificial scarcity, they are just shiny rocks. Or art, a lot of art currently worth tens of millions is just a white canvas, or a bunch of different coloured squares.

Even if you argue that the modern art world is propped up by money laundering, crypto launders money far better than art. The government will crack down on small scale money laundering, but if you think billionaires can't and won't get away with using crypto to launder money and avoid sanctions you're deluded.

Pic related: price of platinum.

>>9577997
What PMs should I be buying right now?

>>9578079

None, all precious metals are overvalued right now.

>inb4 every Gold/Silver shill comes out of the woodwork.

>>9576423

Did Isaac Newton rage over this pump and dump?

>>9578160
Some say you could hear him screaming into the night "GOD DAMN PAJEETS REEE"

>>9578137
Thanks. I asked because you seem to know what you're talking about. Been thinking about putting a few thousand into gold/silver for a while now.

>>9578160
oh fuck yea

He died 5 years later from the stress that accelerated his death

>>9576705
>>9576725

kek

>>9576479
isaac newton bought the top apparently

>>9578266
well that bubble was first of its kind so they are excused, we on the other hand have access to hundreds of graphs and history of bubbles

>>9577997
tl;dr no bubble ever popped without a reason meaning you can always find a reason for every bubble pop, if not it just hasnt popped yet

>>9578409
an excellent art piece. i'll give you $100k for it

>>9576462
>1700s
>British gov 6 gazillion shekels in debt
>create trading company that has monopoly on trading in south america
>allow people to trade their gov debt for stock in company
>stock shoots up
>more people buy
>stock starts drifting
>gov says you can buy stocks 20% down, stock goes up again
>king becomes president of company
>stock goes up even higher
>gov says you can buy stocks 10% down
>many schemes later...
>turns out that the company hasn't made a single dime in trading
>this is because spain owned south america and was not so nice with britian
>people start figuring this out
>earlier investors already knew and sold around peak
>plebs lose all their money
>shenanigans happen and no one in charge (basically whole goverment) gets in trouble
>poor all start killing themselves
>guy named Wallpol forgives a lot of debt
>becomes hero
>becomes first priminister of britan
>poor end up a lot poorer, gov ends up a lot less in debt, people running gov end up stupid rich

>>9576794
>genius lose money emotions

Then people dare to say that "emotional inteligente is bullshit".

>>9579676
>genius lose money because of his emotions

Fix.

>>9576462
Massive debt, some smart fella figured the government could sihpon of debt to his company, he sold that debt then as bonds in the company or something, everything appeared as if South Sea was going to make trillions, didn't make a single dime. Instaed they just kept on siphoning debt and selling them of as bonds making fortunes for the insiders. Stock prices rocketed from a few shillings to a few thousand, giving over 1000x returns to anyone early enough. Eventually people caught up with what was happening and it crashed.

>>9576462
>>9579535
Oh and the debt this little bubble created is so big that britain is still paying it of to this day.

>>9576462
thank you for your service

South Sea Company bubble was 10x the GDP of Britain at the time. And that for a company that didn't even own 1 boat.

>>9577997

we-we're changing the idea of value man

This is what awaits all EOS buyers.

>>9576794
This is why you shouldn't rebuy something you sold once

I am the dip

>>9577048
HAHHA
thats great

>>9579976

Change is the only constant fren