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Not encouraging anyone to do an ICO or sell unlicensed securities, but as with anything, it's a situation of risk vs. reward. And the odds are in your favour (e
by charlesdm 9y ago
Not encouraging anyone to do an ICO or sell unlicensed securities, but as with anything, it's a situation of risk vs. reward. And the odds are in your favour (especially if you're not US based).
Any high risk investment is a gamble. Most cryptocurrencies are garbage, useless and will eventually disappear. But several of them (in my view) are interesting and will be around. Investing in cryptocurrencies isn't riskier than angel investing in a startup. if you love losing money, invest in 10 startups. You'll most likely lose money on all 10 deals. Your chances of making a massive return by investing in crypto are probably significantly higher.
At the end of the day, if you can risk $1 to potentially make $10 or 20, with an 80% chance of you doubling your money, a 50% chance that you 10x and a 25% chance you 20x your money -- honestly, why wouldn't you do that? Not with your entire net worth, but those odds are just too good not to put some money in.
In fact, I'd say more, anyone who hasn't at least invested some money in cryptocurrencies.. just doesn't like making money. What if Bitcoin actually ends up becoming digital gold? You'll have lost out on the best possible investment in our lifetime. What if Ethereum ends up powering most dApps? etc
- acjohnson55 9y agoThat hand wavy math is batshit crazy. This is the exact same argument behind penny stocks. Huge short-term gains don't mean anything if they're followed by craters and you can't time the market. Gambling is all it is.
- deleted 9y ago[deleted]
- JumpCrisscross 9y ago> an 80% chance of you doubling your money, a 50% chance that you 10x and a 25% chance you 20x your money -- honestly, why wouldn't you do that? One, you mucked up your arithmetic (80% + 50% + 25% > 1). (I’ll assume you were expressing cumulative probabilities.) Two, you left off the tail of the distribution where one loses money. Put together, I’d say no to your pitch—schemes promising a greater than 100% chance of making lots of money and 0% chance of losing any are 100% scams.