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>in fact probably more difficult and I would think a lot of that money is coming from people who were already made rich by other coin like bitcoin. That's why
by sanswork 9y ago
>in fact probably more difficult and I would think a lot of that money is coming from people who were already made rich by other coin like bitcoin.
That's why it is easier. You have a bunch of gamblers who have gotten lucky on one bet thinking they are now master investors. They have seen a few ICOs pop so they are willing to take a punt on any that come through pretty much even if it makes no sense.
- to3m 9y agoI claim it can be +EV even when it's a punt. Suppose you make 3x on your first bet, as I did - and it's a long story why i settled for such a poor return ;) - you can then "invest" 2/3 of your winnings, and even if it all goes to nothing then you've still broken even. But in the current climate a 0% return seems, at least for now, unlikely.... (In the interests of even-handedness: Preston J Byrne, quoted in the article, is worth listening to, especially if you are by nature inclined to be a true believer when it comes to this kind of thing. Relevant thread: https://news.ycombinator.com/item?id=14573875 https://news.ycombinator.com/item?id=14573875)