2 ms·
> good (read: likely to not cause people to lose money) advice That's not what good advice is. If I offer you 7:1 odds on $100,000 to guess a die roll, the on
by aianus 10y ago
> good (read: likely to not cause people to lose money) advice
That's not what good advice is.
If I offer you 7:1 odds on $100,000 to guess a die roll, the only question running through your mind is "can I afford to lose $100,000 without impacting my lifestyle" or "do I know any rich people that would stake me for this". If the answer is yes, it's a far better bet than any mutual fund or bond or savings account or whatever you would consider a sound investment, even though you lose $100,000 the vast majority of the time.
Similarly for dropping an appropriately small amount of money (relative to your net worth) in cryptos. The odds are low that they'll take over any significant fraction of commerce but the rewards would be enormous.