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Part of thinking probabilistically is understanding when not to place a bet. You take into account your own technical savviness, your own understanding of block
by mywaifuismeta 5y ago
Part of thinking probabilistically is understanding when not to place a bet. You take into account your own technical savviness, your own understanding of blockchain technologies and protocols, the amount of scams and rug pulls and insider trading, and then you can make a decision on whether you want t gamble on something in crypto or not.
But you are right that the casino analogy is bad since games inside a Casino are fairer on average and easier to model probabilistically. Still, that doesn't change my point about thinking of investments as gambles.