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I think this is a gross misunderstanding of probability. > You are mathematically guaranteed to lose your money playing roulette. You can win roulette, people
by itishappy 2y ago
I think this is a gross misunderstanding of probability.
> You are mathematically guaranteed to lose your money playing roulette.
You can win roulette, people do all the time.
> But you have a small chance of winning buying a meme-coin/stock/option.
Right, but you also have a small chance at winning roulette. Love to see the math here, but I'm betting your roulette statement still applies:
> Nobody ever got rich playing it unless they cheated somehow.
Put differently, of course there are winners in roulette, even if it's often the house. I'd bet "the house" applies to crypto too.
- rtkwe 2y agoThe House for coins is usually the coin creators who grant themselves a hefty chunk of the coin during initialization then often sell off rapidly when the coin gets any traction. It's even more popular with Eth shitcoins where they can drain the real coins other people have put in out of the swap contract in exchange for their. It's so common there's new derivatives of the phrase "rug pull" that have existed for years in the space talk about the projects that turn out to be hollow money boxes for the creators to pillage. A new wrinkle is project will claim that initial coin grants are locked but just not put that functionality in the contracts that define the code so the creators can still just rug the coin.