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I don’t exactly disagree. But, until recently, the people I knew who were investing were techies with political bents. They appreciated the technology, wanted t
by gt_ 9y ago
I don’t exactly disagree. But, until recently, the people I knew who were investing were techies with political bents. They appreciated the technology, wanted to support it, and invested small amounts that they could afford to lose. Would call this ‘dumb money?’
...this changed over the summer/fall, of course.
- 59nadir 9y agoSupporting something because you like the idea of it is not smart, no. It's honorable and a great thing to do, but in terms of investments it's certainly not smart. I didn't mean "dumb money" as in all the people who invested in Bitcoin are dumb, but rather that these were not well thought out investments with sound rationales.
- gt_ 9y agoOK. Thanks for clarifying. You mean to say it’s not smart investing. You are judging intelligence based on purely selfish outcomes. I understand now.
- 59nadir 9y agoIntelligent people can be stupid investors. I'm not judging anyone's intelligence at all. An investment made with no sound rationale by a Nobel prize winner is effectively dumb money.
- gt_ 9y agoI am suggesting there are some rationales for investing in cryptocurrency besides investor profit. I am not arguing for their popularity, but that they do exist. They seem to ascribe different value systems that you might not be considering. In the current market situation, they are probably fairly irrelevant or undermined, but maybe not so in past terms.
- kristopolous 9y ago"smart" and "dumb" money are technical terms in investment. It's just a label placed on a class of investments when talking about the market. You can call them whatever you want and they aren't intended to be anything more than a purely functional way to differentiate two classes of things.
- gt_ 9y agoNoted. Thanks for sharing this comprehension.