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This guy bet on red, won, then bet on black, won a few more times, and then lost when the roulette hit red. Why is it interesting?

by xyzzyz 5y ago

zydex 5y ago
Almost exactly what I was going to say. Nothing of interest here, gambler gambles with the most effective gambling vehicle of this generation.
amelius 5y ago
Same reason why Bitcoin and other cryptocurrencies are interesting, I suppose. Anyway, it's refreshing to read a story with loser-bias for a change, as opposed to survivor-bias which we get here by the dozens.
- forgotpwd16 5y ago
  They ended up with big profit, 2x their salary at that, even after the loses so can hardly call it a loser-bias.
Tepix 5y ago
The most interesting part was where he realized that his life had turned into watching the financial market 24/7 and he was happy to get out.
api 5y ago
“Someone will win big in the casino. It won’t be you.”
orzig 5y ago
I think he does a decent job of discussing the psychology of it. I've been following this stuff SPAC/WSB through Bloomberg et al and they can't really put themselves into the headspace of the traders like this (or even get significant quotes), so it's the first time I've heard a deep explanation for "What are they thinking?"
logicalmonster 5y ago
This person's individual story isn't particularly interesting, though it's well written and explained, but I think the psychology behind why more normal people are "yolo-ing" money into investments is a really important one to think about on a societal level and is going to explain a lot about the coming years.
stjohnswarts 5y ago
because it's good to let people know these things happen as opposed to the onslaught of material that you're gonna make it rich in crypto and web3 investments. It's everywhere. I can't watch financial (tv) news anymore. I want legit financial discussion but all I see are fintech and crypto execs promoting their warez. I had to go back to being much more selective and reading everything based on headlines rather than passively ingesting it all. I guess that's probably a better way anyway.

This guy bet on red, won, then bet on black, won a few more times, and then lost when the roulette hit red. Why is it interesting?

by xyzzyz 5y ago

This guy bet on red, won, then bet on black, won a few more times, and then lost when the roulette hit red. Why is it interesting?

zydex 5y ago

Almost exactly what I was going to say. Nothing of interest here, gambler gambles with the most effective gambling vehicle of this generation.

amelius 5y ago

Same reason why Bitcoin and other cryptocurrencies are interesting, I suppose. Anyway, it's refreshing to read a story with loser-bias for a change, as opposed to survivor-bias which we get here by the dozens.

forgotpwd16 5y ago
They ended up with big profit, 2x their salary at that, even after the loses so can hardly call it a loser-bias.

Tepix 5y ago

The most interesting part was where he realized that his life had turned into watching the financial market 24/7 and he was happy to get out.

api 5y ago

“Someone will win big in the casino. It won’t be you.”

orzig 5y ago

I think he does a decent job of discussing the psychology of it. I've been following this stuff SPAC/WSB through Bloomberg et al and they can't really put themselves into the headspace of the traders like this (or even get significant quotes), so it's the first time I've heard a deep explanation for "What are they thinking?"

logicalmonster 5y ago

This person's individual story isn't particularly interesting, though it's well written and explained, but I think the psychology behind why more normal people are "yolo-ing" money into investments is a really important one to think about on a societal level and is going to explain a lot about the coming years.

stjohnswarts 5y ago

because it's good to let people know these things happen as opposed to the onslaught of material that you're gonna make it rich in crypto and web3 investments. It's everywhere. I can't watch financial (tv) news anymore. I want legit financial discussion but all I see are fintech and crypto execs promoting their warez. I had to go back to being much more selective and reading everything based on headlines rather than passively ingesting it all. I guess that's probably a better way anyway.