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New Poll - Stock Market
This week is another poll created by myself. It's inspired by everything going on with r/wallstreetbets and GME. If you don't know what I'm talking about, go read the news.

You can submit poll ideas here
//ra-opora.ru/getmyofferonline/showtopic.php?tid=3903

Question: How often do you use video conferencing software (e.g., Zoom)?
Choices:
Multiple times a day - votes: 602 (19.6%)
Once a day - votes: 169 (5.5%)
Few times a week - votes: 518 (16.9%)
Once a week - votes: 164 (5.3%)
Few times a month - votes: 206 (6.7%)
Less than once a month - votes: 546 (17.8%)
Never used before - votes: 869 (28.3%)
There were 3074 total votes.
The poll ended: February 6th 2021

I'm surprised that over 1/4th of you have never used any sort of video conference software before.
Posted by lambchopsil on 
February 6th 10:17pm
Comments ( 19 )  
[ View ]  [ Add ]
Comments

» kurotaito on February 6th, 2021, 4:26pm

1-10k

I also have that much invested in cryptocurrencies, just invested in my first IPO this week. Most of my stock investments are just the required retirement fund at my company.

Personally, I think investing is the smart thing to do if you have some disposal income. Started investing when I got my first parttime job. (Save some money on the side then buy a mutual fund.) That parttime job was a $11/hr and most of that money went to food & alcohol so....

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» vigorousjammer on February 6th, 2021, 7:38pm

None.

It kind of rubs me the wrong way. Like, it's basically gambling but with corporations... I see it as a dishonest way to make money.
Investors can get rich by sitting on their fat asses just clicking a button, and they're essentially scraping that money off the backs of lots of hard-working people.

Honestly, I think the world would be better off without it.

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» Transdude1996 on February 6th, 2021, 10:55pm

Quote from vigorousjammer
It kind of rubs me the wrong way. Like, it's basically gambling but with corporations... I see it as a dishonest way to make money.

It is gambling, but it is not a casino, which is how a lot of people treat it and where a lot of misconceptions lay. The way the stock market is suppose to work (From what I know) is that you invest in a company by buying their stock because you believe that the company has potential. As now being a shareholder, you also receive the added benefit of having some sway in how the company is managed, such as having a say in the board of directors. And, eventually, after a several years pass by, and you consider the stock to be worth enough or don't want to continue any involvement with the company, you then sell your shares (Typically aiming to earn profit from your initial investment).

The larger problems then follows from two situations. The first is one is infamous in the U.S. and has caused majority of the major market crashes in the past; where you have idiots who are emotional, impatient, and see the stock market as a "get rich quick" scheme and proceed to invest their life savings into the market. And, being the emotional impatient idiots they are, they buy high, invest money they don't have or cannot afford, invest in the same thing everyone else is investing in, severely overvalue something in the market, and then are completely "shock and surprised" and destroy their life when the market corrects itself. If you want to look up earlier events of this, the most infamous example is (Long story short, the guy who effectively caused the eventual French Revolution). Meanwhile, on the other end, you have the plutocrats who don't give one single damn about the populace, and will pull any underhanded method they can to make sure they retain all their money and lavish lifestyle regardless of who it harms. You saw this last week with the GameStock fiasco, you see this with , you saw this last year with , and the list just goes on from there.

Quote from vigorousjammer
Honestly, I think the world would be better off without it.

Just because people abuse a system, that should NOT be the reason, alone, to remove it. Reason being is those same people who abuse the system will go on to abusing something else, and all you really end up doing is depriving yourself of a useful tool that can be to your advantage. However, to then conclude to go in the opposite direction, and declare that regulating is better than removing it because then you can "control" the system when people abuse it, that causes it's own set of problems as well as . And, .

Personally I think the best solution to is educate yourself on the subject and learn to exploit it to your own advantage. As far as how to get informed, I found Paul Getty's a good introduction to what's out there.

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» vigorousjammer on February 8th, 2021, 1:27pm

Quote from Transdude1996
Personally I think the best solution to is educate yourself on the subject and learn to exploit it to your own advantage.

I get what you're saying, but I don't like that answer. Basically... just because that thing exists I have to learn how to exploit it or otherwise just be poor?
To me, that's almost like population control. It's almost like they're robbing me of my autonomy, using money as the main incentive, feeding into people's greed, saying "join us or die poor". It's almost as bad as pointing a gun in my face.

Quote from Transdude1996
Just because people abuse a system, that should NOT be the reason, alone, to remove it. Reason being is those same people who abuse the system will go on to abusing something else, and all you really end up doing is depriving yourself of a useful tool that can be to your advantage.

If it didn't exist, there would absolutely still be corrupt people, yes, but there wouldn't be anything promoting such greedy and exploitative practices. The stock market incentivizes such practices, and as a result I argue that it creates much greedier people than would otherwise exist.

Most people truly don't need a surplus of wealth, but I think because the stock market turns the whole thing into a game, it plays to people's competitive sides, and they don't care that they are denying other people money or a right to survive, they just care about their own numbers going up.

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» Transdude1996 on February 8th, 2021, 8:35pm

Quote from vigorousjammer
I get what you're saying, but I don't like that answer. Basically... just because that thing exists I have to learn how to exploit it or otherwise just be poor?

Short answer, yes. If you don't learn how to exploit the laws and systems provided to you (Created for YOUR benefit), you will end up poor. And frustrated. And controlled. And immorally exploited. And wasting you time spinning your wheels to achieve a similar result that someone else achieved with only a fraction of the time, energy, and resources you used.

That being said, that doesn't mean you always "need" to exploit something just because it exists. I made this point last week when I said that video conferencing servers no purpose beyond what a simple phone call can already achieve, except in the instance that you are giving a presentation. However, that does not excuse being ignorant of it. Getting back to the discussion of the stock market, do you know of another system or method that can be used to achieve a similar result to what the stock market can provide for you with? If the answer is "Yes", then pursue that venture if you prefer it, and there's nothing else that really needs to be discussed. If the answer is "No", then why are you avoiding the subject and refusing to educate yourself about it?

Quote from vigorousjammer
To me, that's almost like population control. It's almost like they're robbing me of my autonomy, using money as the main incentive, feeding into people's greed, saying "join us or die poor".

How is the desire to have money equivalent to being "greedy"? If it's just the desire to have money for no other reason than the sake of having money, I can agree with you there as that's the purest definition of greed. If you're desiring money for the sake of doing something with it, there's nothing greedy about it. It's something as simple as seeing the options that exist out there, but realizing that those options require money, so you find a way to make that money so that you can then have access to those options. It can range anywhere from materialist desires of wanting to build a model train set or play golf to realist desires of paying for regular maintenance on your car or seeking out the best medical attention when a crisis occurs. Some people have even taken it as far as pursing those wealth-producing outlets so that their spouse can quit their job, and/or spend more time with their kids and get them out of the nightmare that is public schooling.

At the end of the day, what's wrong with finding ways to make money so that you can increase your options?

Quote from vigorousjammer
If it didn't exist, there would absolutely still be corrupt people, yes, but there wouldn't be anything promoting such greedy and exploitative practices.

Have you heard of slavery? Not the wussy European/American kind where they actually treated their slaves humanely and allowed them the possibility to buy their freedom. I mean the African, Meso-American, and Asian kind where entire empires where built on the backs of POWs, and then having said POWs being sacrificed for their cults.

Also, what about government regulations and taxes, that are not designed for the public welfare, nor were created for the purposes of preventing exploitation?

Quote from vigorousjammer
The stock market incentivizes such practices

No, it does not. Easy example of this is how, before the American Civil War broke out, slavery (Sanitized as American slavery was) was actually proving to be fairly unprofitable. Reason why is because the cotton gin improved production so quickly, that plantations started achieving the same results with less people, and started losing money because it cost more to house, feed, and care for the slaves than if they had employees working under them. Similar advancements also lead to the reason why the North was much more developed than the South during that time.

Quote from vigorousjammer
and as a result I argue that it creates much greedier people than would otherwise exist.

How can it make people "greedier" unless they were already that greedy in the first place? People don't just "change" because now they have several million in their bank account. They were already like that and having "Fuck you" amounts of money reduced their number of reasons for continuing their farce.

Quote from vigorousjammer
Most people truly don't need a surplus of wealth

Until an emergency happens. Or, they want to support a struggling business. Or, they want to be a philanthropist.

Quote from vigorousjammer
but I think because the stock market turns the whole thing into a game, it plays to people's competitive sides

What's wrong with healthy competition in the marketplace? That's how America's economy was designed over 200 years ago, and every developed nation has fully embraced some flavor of it.

Quote from vigorousjammer
and they don't care that they are denying other people money or a right to survive

Then why don't you, or the people being hurt, file a lawsuit against the companies and entities that do this? Or create a union? Or start up your own business to compete with theirs, while offering employees the rights and money they deserve?

Quote from vigorousjammer
they just care about their own numbers going up.

And, those people will experience the eventuality that profits rise and fall. It doesn't continually grow exponentially.

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» KaoriNite on February 7th, 2021, 5:48am

Quote from vigorousjammer
None.

It kind of rubs me the wrong way. Like, it's basically gambling but with corporations... I see it as a dishonest way to make money.
Investors can get rich by sitting on their fat asses just clicking a button, and they're essentially scraping that money off the backs of lots of hard-working people.

Honestly, I think the world would be better off without it.


Completely agree!

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» achyif on February 6th, 2021, 9:55pm

I imagine the results of this poll will mirror the userbase age distribution.

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» licorice on February 9th, 2021, 6:26pm

Assuming the adults on this website are salary. Many probably aren't.

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» achyif on February 15th, 2021, 1:47am

Quote from licorice
Assuming the adults on this website are salary. Many probably aren't.

True. You can refer to the salary poll from 2019 (recent enough) and see that the results track that much more closely than by age.

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» blakraven66 on February 7th, 2021, 1:30am

None.

I want to, in fact I'm a big fan of stock market board games which takes up a sizeable portion of my collection.

But I always chicken out due to the risks.

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» Lorska on February 7th, 2021, 3:33am

None.

I was actually on my way to go into the whole financial sector and stocks but aborted the whole thing and went into IT instead due to morality reasons.

The game isn't fair by design and the super rich control the game by being able to change rules at a whim whenever their money is at stake. Just look at the current GameStop affair.
So us normal people are the ones who really can lose. That doesn't mean you can't win, but the leeches will always benefit more at the cost of other's lives and money.

In principle it's not a bad idea to invest into a company to stimulate growth. But if one of the most lucrative ways to create money is pressuring a company into ruin then yeah, it sucks.

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» residentgrigo on February 7th, 2021, 6:19am

None

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» simmi on February 7th, 2021, 1:27pm

£1k-10k
Interest rates are so low I thought it was pointless to leave my money sitting in a bank account. I know a lot of people think investing is risky. ETF are pretty safe and some state their risk level. I first started off by investing in funds before investing in single stocks. I personally don't think investing in the stock market is that risky if you've done your research.

I invest in cryptocurrencies which is risky but I've never had a problem with either and have been investing since 2017.

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» Ceiye on February 7th, 2021, 7:15pm

Amount I've actively been participating in? None. The stuff that you need to do for retirement and stuff? Idk, however much I'm told should be done. But I'm assuming this question isn't asking about the "buy it and leave it" kind of stock market investment.

I want to know who the more than 2% of people with 1M+ in investment are. Why are you here. Don't you have better things to do than be here?

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» dreamer00013 on February 8th, 2021, 4:36am

I heavily doubt there's actually that many with 1M+ money of their own money in investments. I assume it's an answer people pick for fun or because they feel troll-y, not because it's the truth.
Happens a lot with online questionnaires, so one need to take them with a grain of salt xD

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» HikaruYami on February 8th, 2021, 12:54pm

I expected the "None" responses to be closer to 40~50%, not 73%....

Most of the users of this site nowadays are working adults. It's not like 15+ years ago (this site was founded in 2004!) when we were mostly teenagers. If you have a 401k, your money is invested in the stock market. It may be in index funds instead of individual companies, but those are indexes... of stocks.... Even if they're in a managed fund, it's still *your* money being used by an investment firm to trade stocks.

I feel like this is a very similar issue as the last poll. After I made my comment about how 36% of people was absurdly high--and how Google Hangouts and Discord and Skype all counted--the number dropped all the way to 28% from just the new votes. Which makes me think some of the first round of votes were mistaken.

Quote
I heavily doubt there's actually that many with 1M+ money of their own money in investments. I assume it's an answer people pick for fun or because they feel troll-y, not because it's the truth.
Happens a lot with online questionnaires, so one need to take them with a grain of salt xD


Now, people with 1M+ currently are either old or actually wealthy (50+ year old software engineers, doctors, lawyers, etc can have that much for sure without anything like generational wealth). But anyone who has been working a salaried job for even 5 years should be in the "$10k-$100k USD" bracket.

I've been a software engineer for 7 years now and answered $100k-$1M USD.

Quote
But I'm assuming this question isn't asking about the "buy it and leave it" kind of stock market investment.

I'm assuming the exact opposite, because... the question doesn't ask that.

If the question were "how much money do you regularly trade in the stock market", then your interpretation would be reasonable. But... like... it's not. Sounds like you do have money in the stock market, and just answered wrong.

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» kurotaito on February 9th, 2021, 8:05am

Quote from HikaruYami
I expected the "None" responses to be closer to 40~50%, not 73%....


I agree that I thought the none would be way lower. But, I wasn't leaning towards 40% because there are a few oldies on here who I know for certain don't have jobs that give good or any 401k. All you independent contractors out there, I see you.

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» Baltha on February 9th, 2021, 10:16am

Quote from HikaruYami
I expected the "None" responses to be closer to 40~50%, not 73%....


First off, this website is frequented by more than just US citizens, so your point with the 401k is not available to at least one person who answered this poll. You would need to have an overview about the geographical distribution of the votes to make assumptions about the skewedness that comes from people who have some kind of missing knowledge about this instrument.


Second: I think you're severely underestimating the amount of people in this world who are barely able to make ends meet with the jobs they can get. Just because you lucked out and have a very well paying job does not mean that the majority of this site's visitors have to be the same. Maybe you should get off your high horse every once in a while to form a more grounded opinion, instead of assuming that things which don't reflect your worldview have to be wrong.

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» hkanz on February 8th, 2021, 4:24pm

Via the CPP yes, but otherwise no. It’s just one of those things where I keep meaning to do some research and invest properly and then I never do.

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