[stanleydrew]

Reading this I'm struck by a bit of sadness that this kind of market manipulation is the way some obviously not-entirely-dumb people choose to use their time. But I guess manipulation of a market for personal gain isn't too terribly different from manipulation of people's emotions via reality TV in order to sell ads.

[21]

Unlike real world financial markets, what happens on crypto markets at the moment doesn't really impact anyone which doesn't choose to be impacted.

Meaning nobody is forced to trade DOGE, so if you can't handle the heat, don't enter the kitchen.

More interestingly to me, nobody would enter a sprint race again Usain Bolt, or even a national-level athlete, because they know they would lose, but somehow, they believe that they can enter the financial or crypto markets, not realizing that it's exactly the same thing, most likely they have exactly 0% chance of being profitable over the long run.

There was a funny (sad?) documentary about retail traders, and I remember a mom which traded from a small laptop while also taking care of her small kids at the same time. You can imagine how well that ended. She probably didn't even realize that she's trading against armies of very smart people who do this 24/7 and have a lot of resources and experience.

[stanleydrew]

I'm not sad that foolish people are losing money due to market manipulators. The same people trading DOGE would otherwise be playing online blackjack or something.

I'm just a little sad that the manipulators aren't motivated to put their brains towards a more useful cause. In the same way that I'm a little sad that Steve Wynn spends his time building casinos.

[jliptzin]

Exactly. Whenever a friend tells me he is thinking of daytrading from home, I seriously tell him to go to Vegas instead. At least there, you know you're at about a 2-5% disadvantage depending on what game you play. In the market you're very likely disadvantaged much more than that.

Plus your laptop won't spit out free Coronas.