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> 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.
by 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 agoYea 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.