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This person lost all credibility to me when he said that he borrowed money to invest. I'm a huge admirer of Bitcoin's technical aspects, but I would never even
by rheide 15y ago
This person lost all credibility to me when he said that he borrowed money to invest. I'm a huge admirer of Bitcoin's technical aspects, but I would never even think of borrowing money to invest in anything, let alone bitcoins.
- carbocation 15y agoLeveraged positions are common, but leveraging yourself to the maximum possible and not leaving yourself a safety net, as is implied by the article, is crazy. I assume the author is speaking hyperbolically.
- henrikschroder 15y agoKnowing Rick, this is exactly the kind of thing he would do. You gotta give him credit for putting money where his mouth is, though. He previously took all his savings, and a bank loan to start the Pirate Party, and that worked out pretty well.
- po 15y agoThere's nothing more dangerous than a confidant gambler. Taking one high risk may wipe you out or make you rich, but taking a series of high risks will almost certainly wipe you out. His past success has nothing to do with this wager he's making now. It's like playing russian roulette 10 times in a row.
- niklas_a 15y agoYep. But it is those kind of people that end up making a difference in this world (for better or worse).
- amalcon 15y agoLeveraged positions are common, yes. They are also behind nearly every market bubble (and subsequent crash) in history.