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So you should just invest $1k in BTC. If it outperforms by 100x, you lose 10k but very likely gain much more, otherwise you get $9k.
by tonfa 14y ago
So you should just invest $1k in BTC. If it outperforms by 100x, you lose 10k but very likely gain much more, otherwise you get $9k.
- jhuckestein 14y agoThat would be awesome! Sadly Long Bets makes you donate the winnings to charity to avoid prosecution as an illegal gambling site. Now if you happened to own a charity...
- Permit 14y agoHaha, I wonder if they could use Bitcoin as their prevailing currency and avoid that problem altogether.
- FredBrach 14y agoBetter you invest $100 or $5k.
- Eliezer 14y agoActually, I think the bet may have been worded so that if gold gains 2% and bitcoin gains 200%, the bet is won. This makes it substantially harder to arbitrage.