Most "investments" are just new jobs. Like investing in a rentable house. You are buying yourself the new job of landlord.
When you buy an altcoin, you're buying yourself the new job of altcoin promoter.
@jimmysong That's bullshit. There's tons of passive investments. They're the whole basis for rent rights and capitalism. You're profiting of other people doing a job.
Landlord is not a job. Stock owner is not a job. Patent holder is not a job. They're rent rights.
@stevenroose @jimmysong I think there's a valid argument that no investment is perfectly passive - landlords need to do upkeep of the property, shareholders need to ensure management is doing its job, content creators need to promote their works, outsourcers need to manage their hires and customers...
@ajtowns @jimmysong All of the can, as very often is, outsourced. And "managing their hires" is often done as a service. So then you just pay a cut. You pick a service provider once and done. The vast majority of shareholders has never ever cared about participating into the mgmt process. They just hold a virtual piece of paper that grants them dividends and potential upside.
You're making theoretical arguments that just don't hold in practice.
@stevenroose @jimmysong outsourcing all that then not overseeing the job they do seems like a good way to lose most of the profits, and get scammed to me, but *shrug* Might as well just buy into an ETF at that point, which sends line the definitive passive investment vehicle. I'm a bit dubious whether they'll manage to sustain positive real returns for too long, but they certainly work now.
@ajtowns @jimmysong The climate we're in makes any investment "profitable" (nominally, that is). Because number go up. Whether it's land, stocks, ETFs, many forms of passive rent extraction.
And I'm convinced that most people that actually do jobs are still too risk-averse to make any of those passive investments. If they even have access to them in the first place, most people outside of the Western world barely have.
@stevenroose @jimmysong The passive investment you're meant to use changes each generation - gold, savings account, real estate, stock market. Maybe more often? New stuff means you've got to learn about it first which gives scammers a chance to fleece you. Regular people not getting passive income seems super predictable to me...
Bitcoin Maston Instance