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You argument is that it could have some long term value, which is different than a lottery ticket (which has a calculable minimum expected value at time of purc
by maxerickson 17d ago
You argument is that it could have some long term value, which is different than a lottery ticket (which has a calculable minimum expected value at time of purchase).
- eru 17d agoSlightly more abstract: my argument is that assets with a very skewed probability distribution of future value will have a positive current value, even if in the vast majority of cases, they'll be worthless in the future. Lottery tickets were only an example.