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Why not just buy a small amount of bitcoins now, something you won't mind losing? If they increase 100 fold you won't feel like you're missing out. And if they

Why not just buy a small amount of bitcoins now, something you won't mind losing? If they increase 100 fold you won't feel like you're missing out. And if they don't just think of it as insurance. I personally hate the idea of bitcoin and avoided it for a long time, but I feel better having a little just to avoid the thought I let my personal feelings get in the way of an opportunity with a good risk/reward ratio.

adamisom 6y ago
This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP. So... yeah, though maybe you can't say that's impossible, if by some miracle BTC became the dominant currency in a (much richer) future.
- marvinkennis 6y ago
  I'm holding a tiny amount of BTC, but this has been my reason not to invest more. I know that at most I might be comfortable investing $20K in Bitcoin now, but that's literally it. If that amount increased 100x, it'd be $2mm. A good amount of money but by no means life changing to the extent that I will forever regret it.
- saalweachter 6y ago
  > This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP. Ahh, but the asteroid 16 Psyche is worth $10 quintillion and one day we'll mine it. That lets the BTC cap go 100,000x further than the world GDP. [On a more serious note, note that GDPs have a time component and market caps -- or the amount of a currency in circulation -- don't. If each unit of money gets spent every month, you only need GDP/12 units of money in circulation; if each unit of money gets spent every 10 years, you need GDPx10 units of money.]
choward 6y ago
> Why not just buy a small amount of bitcoins now, something you won't mind losing? Once people stop having this mindset the price will stop rising.
- chillacy 6y ago
  Yea but that’s what people thought at 100, 1000, and 10000 too. A lot of people dismiss the possibility of a 10x rise in price and fixate on the 2x reduction. That kind of pessimism is hardwired in: humans have stronger loss aversion. But if something has a 20% chance at 10x and 80% chance of 1/2x, that’s still positive EV.

adamisom 6y ago

This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP. So... yeah, though maybe you can't say that's impossible, if by some miracle BTC became the dominant currency in a (much richer) future.

marvinkennis 6y ago
I'm holding a tiny amount of BTC, but this has been my reason not to invest more. I know that at most I might be comfortable investing $20K in Bitcoin now, but that's literally it. If that amount increased 100x, it'd be $2mm. A good amount of money but by no means life changing to the extent that I will forever regret it.
saalweachter 6y ago
> This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP. Ahh, but the asteroid 16 Psyche is worth $10 quintillion and one day we'll mine it. That lets the BTC cap go 100,000x further than the world GDP. [On a more serious note, note that GDPs have a time component and market caps -- or the amount of a currency in circulation -- don't. If each unit of money gets spent every month, you only need GDP/12 units of money in circulation; if each unit of money gets spent every 10 years, you need GDPx10 units of money.]

choward 6y ago

> Why not just buy a small amount of bitcoins now, something you won't mind losing? Once people stop having this mindset the price will stop rising.

chillacy 6y ago
Yea but that’s what people thought at 100, 1000, and 10000 too. A lot of people dismiss the possibility of a 10x rise in price and fixate on the 2x reduction. That kind of pessimism is hardwired in: humans have stronger loss aversion. But if something has a 20% chance at 10x and 80% chance of 1/2x, that’s still positive EV.