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Granted, individuals will only receive ~15% of their original claim, the increase in value over time will make it worth it for many.
by Lambdanaut 2y ago
Granted, individuals will only receive ~15% of their original claim, the increase in value over time will make it worth it for many.
- panarky 2y agoPeople lose their shirts in crypto because they lose it, trade it, and sell too soon. The only proven way to make a killing in crypto is to be physically prevented from losing it, trading it, or selling it for ten years.
- 9front 2y agoThe fear of losing is greater than the desire to win! So people trade or sell before a ten years timeframe.
- brianwawok 2y agoThis only reads that way looking back over a raising value. Look at a stock that goes to 0 and call the people that sold early fearful of losing,
- Detrytus 2y agoWhen the stock/crypto goes up 100% people will gladly take their profits and go on with their lives, instead of waiting for even bigger profits. When the stocks starts its fall towards 0 people will do incredible mental gymnastics, clinging to any shred of hope that things will turn around and they will revert their losses, so it takes them much more time to get out of the bad investment.
- ta988 2y agoAnd when crypto goes to 0?
- DANmode 2y agoWhat is the most likely scenario in which you see Bitcoin changing hands for ~0 value, or I suppose not changing hands?
- andirk 2y agoI transfer it to people on the slowest method for 1st borns baby shower. I used it on furniture at Overstock.com while they allowed it. I gamble with it. I have donated with it. For me and probably many others, when expediency isn't an issue, BTC works great.
- bmacho 2y agoPeople want to get real money out of it.
- slicerdicer1 2y agoBitcoin will never go to $0 because if it ever got to $1 I'd buy all 21 million of them. And there are lots of people like me.
- muzika 2y agoNot if the algorithm is cracked and the supply of bitcoin increases. It’s possible for bitcoin to go to zero. Shouldn’t happen, but it can.
- garydevenay 2y agoThe supply wouldn’t even be increasable if SHA256 is cracked
- garydevenay 2y agoThis is true in crypto, but not true in Bitcoin
- bearjaws 2y agoThey only lose their shirts because its speculative gambling... They are scared the same way the person betting on red is.
- bboygravity 2y agoYou're describing anybody investing in anything (except those who cheat).
- amanaplanacanal 2y agoI like to distinguish investing from speculating. Investing is putting money into a business which actually makes money. Speculating is buying something because you think the price will go up.
- cwalv 2y agoIf the price does go up, did it "actually make money"?
- manuelmoreale 2y agoNot necessarily.
- ekianjo 2y agoinvesting is not just that. its putting money where you expect the business to make MORE money in the future. if they dont, you dont make money in the end.
- garydevenay 2y agoIt’s also not just that! theres no requirement for a business to be involved for it to be an investment (e.g Gov bonds)
- 2y ago
- TacticalCoder 2y ago> The only proven way to make a killing in crypto is to be physically prevented from losing it, trading it, or selling it for ten years. Which is very well known in the crypto world with these two mantras: - "Not your keys, not your coins" (meaning one shouldn't trust anyone) - "HODL" (aka "hold on to your coins")
- deleted 2y ago[deleted]