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> This is speculation. > The best way to profit from a bubble is to stay away as much as possible imho. Well. Obviously you're wrong. Some of the richest peop
by luk32 9y ago
> This is speculation.
> The best way to profit from a bubble is to stay away as much as possible imho.
Well. Obviously you're wrong. Some of the richest people got there by speculating.
Speculation is one of the best way to profit... Just not on average. On average it's rather bad. It always shifts wealth from larger group of people to lower.
It's very good for very few, and rather bad for rather large amount of people.
Many people got rich on BTC it will be paid by those who will hold BTC when it crashes.
- dforrestwilson 9y agoObviously I'm not by your own admission. The problem with bubbles is that it's human nature to believe that you have an edge over others on the timing of events. So yes, for most people speculating on Bitcoin this way is objectively destructive. If someone has an edge (superior technical knowledge, information on applications nobody has considered, or a time machine) I say go for it. But it's very hard for people like the writer to acknowledge that they are no better advantaged/informed than 6 billion others.