5 ms·

if you don't need that money why are you betting it to get even more money you don't need? :) It is risk, maybe not existential risk for you but risk. If you h

by lz400 9y ago

if you don't need that money why are you betting it to get even more money you don't need? :) It is risk, maybe not existential risk for you but risk. If you have a savings account, you don't need that money right now probably, still betting 30% of it in random horse in the races is risk, otherwise you are just working with a odd definition of risk.

tom_mellior 9y ago
> if you don't need that money why are you betting it to get even more money you don't need? :) Why do rich people go to the casino? Why do rich people invest in risky projects? There is a thrill to gambling itself. There is a thrill to winning as well. Yes, even winning things you don't need. I think this is asymmetrical: When gambling with money you don't need otherwise, the joy derived from winning is greater than the loss of joy derived from losing. Especially if you win really really big :-) There's another point, though. If Tezos really takes off, that could allow me to do things I can't currently do. The more it takes off, the more interesting projects would open up. So you could say that, in a sense, and until some point of saturation, I would start "needing" the money more and more as more and more of it accumulates. If that seems like a paradox to you, that's fine with me.
- lz400 9y ago
  I understand. You are saying an extra 30K won't make your life very different but an extra $3m would. And you have 30K lying around you can gamble for that chance. I get it. There's still opportunity cost lying around all over the place. You could invest in any number of highly leveraged assets or hedge funds or stocks (or go to the casino :). The fact that you have that money lying around doesn't automatically make anything you do with it devoid of risk. Arguably you could send it to some Nigerian prince and wait for payback, that sounds like a bad idea. There's a whole spectrum of risk even in your case. I'm not saying you are not doing the right thing, just that you are taking a decision that comes with a risk.

by lz400 9y ago

tom_mellior 9y ago

> if you don't need that money why are you betting it to get even more money you don't need? :) Why do rich people go to the casino? Why do rich people invest in risky projects? There is a thrill to gambling itself. There is a thrill to winning as well. Yes, even winning things you don't need. I think this is asymmetrical: When gambling with money you don't need otherwise, the joy derived from winning is greater than the loss of joy derived from losing. Especially if you win really really big :-) There's another point, though. If Tezos really takes off, that could allow me to do things I can't currently do. The more it takes off, the more interesting projects would open up. So you could say that, in a sense, and until some point of saturation, I would start "needing" the money more and more as more and more of it accumulates. If that seems like a paradox to you, that's fine with me.

lz400 9y ago
I understand. You are saying an extra 30K won't make your life very different but an extra $3m would. And you have 30K lying around you can gamble for that chance. I get it. There's still opportunity cost lying around all over the place. You could invest in any number of highly leveraged assets or hedge funds or stocks (or go to the casino :). The fact that you have that money lying around doesn't automatically make anything you do with it devoid of risk. Arguably you could send it to some Nigerian prince and wait for payback, that sounds like a bad idea. There's a whole spectrum of risk even in your case. I'm not saying you are not doing the right thing, just that you are taking a decision that comes with a risk.