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Trading just for profits is no different from other kinds of gambling. Even though I like Bitcoin myself, I'm not the most risk-taking kind of person. The marke
by Natanael_L 11y ago
Trading just for profits is no different from other kinds of gambling. Even though I like Bitcoin myself, I'm not the most risk-taking kind of person. The market price depends on the collective sentiment of every single trader, and no matter what I believe, I can't force them all to agree with me.
- peteretep 11y agoYou're spot on that it's gambling. My specific gamble last time was that I had an information advantage that others did not regarding Bitcoin. I sold up when that no longer felt true, and when the money had become enough that I couldn't afford to lose. My specific gamble this time is that there is a bubble, but barriers to entry to owning Bitcoin are high enough that it still has momentum. I can afford to lose my current stake, and will stay in while I continue to feel that way, and while I remain under the UK capital gains threshold.
- TomGullen 11y ago> Trading just for profits is no different from other kinds of gambling I'd say this is absolutely false. Roulette is pure chance (and -EV at that). Trading currency/commodities is a bad idea for most people, however you can gain +EV edges with domain knowledge.