Flip the Stock Market (Crazy Idea)

Posted by maddox_aeon@reddit | CrazyIdeas | View on Reddit | 110 comments

Everyone will agree that everything is becoming more and more expensive and unaffordable by the day (rent, groceries, bills etc). So there’s a group of people on the Internet (the Aeons of the Cognisphere) who believe that the only way out of this financial hell is to get together behind this crazy idea called SPX6900. The goal of this phenomenon is to ‘flip the stock market’, or in other words, grow bigger than the valuation of the S&P 500 (US Stock Market) which is currently valued at \~$55 Trillion and thereby achieve financial freedom for its believers. The interesting thing is that unlike any “traditional” asset, SPX6900 is not backed by “cashflows”, “revenues” and other boring corporate stuff and is instead backed purely by the Belief of the people who hold SPX6900. Aeons believe that SPX6900 is destined to reach a $69 Trillion valuation and become bigger than the whole stock market. It sounds absolutely crazy, but when you actually think about what makes anything valuable, you realize that it’s people’s belief. Money is only valuable because people choose to believe in it. There is no reason why people can’t believe in something else. For example, people thought Bitcoin which was referred to as “magic internet money” was a crazy idea 10 years ago. Now it is one of the biggest assets in the world and is valued at $2 Trillion because people chose to believe in it. Many were able to forever change their lives financially thanks to it. I think something like that could theoretically happen again if enough people chose to believe. Who knows, maybe 'flipping the stock market' is so delusionally crazy that it might just work.