Today I Learned (TIL)

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TIL that in 2010 the stock market experienced a flash crash, caused by automatic trading. Over a trillion dollars were lost and mostly regained, all in 36 minutes. Exact causes remain disputed. (en.wikipedia.org)

submitted 1 year ago* (last edited 1 year ago) by garfaagel@sh.itjust.works to c/til@lemmy.ca

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[–] Dark_Blade@lemmy.world 4 points 1 year ago* (last edited 1 year ago) (1 children)

You see, the problem with your argument is that stock isn’t money, it’s an asset. While you can call the asset itself bogus, the money backing it is ‘real’; that’s why entire life savings can be wiped out if the market suddenly goes ‘kaput’.

[–] snooggums@kbin.social 1 points 1 year ago (1 children)

So you are also saying that stocks are not real dollars. Glad we agree.

[–] Dark_Blade@lemmy.world 3 points 1 year ago

Stocks aren’t money to begin with, they’re an asset class. The money invested in stocks is as real as any other dollar though.