Apparently to some Yahoo correspondent Crypto trading is so easy a caveman can do it

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JackStraw77

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I love the premise of this article. People are dropping out of the workforce to trade crypto currencies. Sounds just like what happened before the stock market crash of 1999-2000. Everyone is now a genius and can predict the movement of crypto.
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<header class="caas-title-wrapper" style="margin: 0px 0px 32px; padding-bottom: 10px;">[h=1]Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO[/h]</header></header>[FONT=&quot] Julie Hyman·Anchor

<time class="" datetime="2021-06-08T15:21:04.000Z">Tue, June 8, 2021, 11:21 AM</time>





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[FONT=&quot]The 559,000 jobs the U.S. added in May continue to puzzle economists, who predicted 675,000 additions for the month and 1 million additions a month earlier as the economy recovers. They've put forth explanations from lack of child care to persistent COVID-related safety concerns. Now, another culprit can be added to the list: Some potential workers are instead staying home trading Bitcoin and other cryptocurrencies.
"They're pulling back on the hours they're looking to work based on what's happening in the crypto market," Irina Novoselsky, CEO of job site CareerBuilder, told Yahoo Finance Live. "They're making side money and no longer looking to fill full-time hours."
Most cryptocurrencies are well off their highs this year. Bitcoin (BTC-USD), the best-known, hit a record of nearly $64,000 in mid-April before trading in recent days closer to $35,000. That said, it's still up more than 20% this year. And participation in the asset class is growing, with a recent report finding 21.2 million Americans — 14% of the adult population — own cryptocurrencies.
Of course, crypto trading — or stock trading, for that matter — isn't the only factor keeping workers at home. Novoselsky also cited the fact that many schools are still not back to full-time, in-person status, as well as the idea that some people are hanging on to their current jobs while they make plans to move cities, for example.
Then there are the Americans who have decided they're never going back to work.
"There's a whole generation that has left the workforce early. Pre-COVID, we had a five-generation workforce, and we're seeing one of the generations close to retirement saying, 'I'm just not going to participate,'" Novoselsky said.
Demand for employees has sent job postings on CareerBuilder to an all-time
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cybersharp

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I'm no economist, but just WHAT THE HELL BACKS UP THE ACTUAL VALUE of this shit?

Not gold, nor silver, not platinum nor any other thing of value as far as I know.

Nothing but an incredibly optimistic army of speculators as far as I can see.

Am I missing something? As I said, I am no financial expert or economist.
It is a serious question.

Are these people the fools that I think they are? :smoking:
 
Mr_Mark

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cybersharp said:
I'm no economist, but just WHAT THE HELL BACKS UP THE ACTUAL VALUE of this shit?

Not gold, nor silver, not platinum nor any other thing of value as far as I know.

Nothing but an incredibly optimistic army of speculators as far as I can see.

Am I missing something? As I said, I am no financial expert or economist.
It is a serious question.

Are these people the fools that I think they are? :smoking:
Click to expand...

+1
 

Ricboff

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damn did we read the same article? didnt see that as a premise as all, she's passing information. She didnt share her opinion whether crypto trading is easy/hard/noble/a worthy job ..etc


she's using the word 'trader' loosely tho. I'd say the greater % of these people are gamblers, not traders.
 

PatsFan1283

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nothing more than clickbait

doubt many people trading crypto is preventing them from getting jobs....that easy gov't $$$$ tho
 
Willie99

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Economics is not an exact science, especially macro economics, because if it was we would have legislated utopia already. Hence I'm never surprised about anything. There will always be bumps on every journey, it is what it is

Micro economics is a different story. We know changing certain variables can help or hinder certain outcomes, but even then we're talking short term relatively speaking

When it comes to financial markets, talking heads tend to be Monday morning quarterbacks, and even then they're wrong
 

raiders72

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cybersharp said:
I'm no economist, but just WHAT THE HELL BACKS UP THE ACTUAL VALUE of this shit?

Not gold, nor silver, not platinum nor any other thing of value as far as I know.

Nothing but an incredibly optimistic army of speculators as far as I can see.

Am I missing something? As I said, I am no financial expert or economist.
It is a serious question.

Are these people the fools that I think they are? :smoking:
Click to expand...
I posted the same in another thread. The US dollar is printed at will. Scarcity creates value and that's one of bitcoin's advantage over the dollar. Bitcoin is used globally and transfer fees can be much less. Those that are unbanked in poorer countries can use crypto-currencies. De-Fi is huge and banks will be useless.
 

Ricboff

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a cool crypto purge and US govt stops sending covid cheques and i reckon the majority of these PT/FT crypto 'traders' will be looking for jobs.........call it a hunch
 
Willie99

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You might be on to something. Not being paid to stay home, and not having the time to day trade and baddafuckingbing, lives change again
 
slapshot

slapshot

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Nobody is going back to work till companies stop the China Flu mask wearing bullshit
 
Willie99

Willie99

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When UE benefits run out 8/31, people looking for jobs will grow exponentially
 
SmallDaddy

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Same as the generation before that was "day trading oil" in 2007.

All those are back the their regular jobs.

Everybody is a genius in a bull market, and idiot in a bear market.
 

raiders72

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SmallDaddy said:
Same as the generation before that was "day trading oil" in 2007.

All those are back the their regular jobs.

Everybody is a genius in a bull market, and idiot in a bear market.
Click to expand...
Very true during the bull runs that everyone's a genius. It really doesn't matter what you jump on, you'll make money. The key is to be the first one in. De-Fi was huge for those in last year. It's the same with NFTs. Those in early make the money.
 
SmallDaddy

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And how can we forget all the 'online poker pros'???

Winning a tournament and playing till you lose everything back is not really 'pro material'
 
EveryGamblersDream

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The danger with some crypto is how easy it is for anyone to make a coin. Many of these coins are setup as jokes for a pump & dump. Even VegasDave showed a message of someone wanting him to promote a coin icuminu or so weird shit like that.
 

raiders72

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EveryGamblersDream said:
The danger with some crypto is how easy it is for anyone to make a coin. Many of these coins are setup as jokes for a pump & dump. Even VegasDave showed a message of someone wanting him to promote a coin icuminu or so weird shit like that.
Click to expand...
They are easy to create and then you can immediately trade them at Pancakeswap or Uniswap. Do some promotions and you're an instant multi-millionaire.
 
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