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“If I spend $100 on drugs now and the price of [Bitcoin] doubles in a week, then I’ve effectively spent $200 on those drugs by next week.” Even if you're buyin
by corin_ 14y ago
“If I spend $100 on drugs now and the price of [Bitcoin] doubles in a week, then I’ve effectively spent $200 on those drugs by next week.”
Even if you're buying drugs with hard cash on a street corner, the fact remains that you would probably be financially better off by investing that money rather than trading it for drugs - hell, you could buy some Bitcoins with it as your (somewhat risky) investment if you so wish!
From the same person: "Addicts. People who need their drugs and will pay for them, despite knowing that they could buy twice as much for the same money in a week."
I don't get why he is ignoring the fact that Bitcoin could also halve in value in a week's time (errr, like it just has!), or why Forbes are quoting someone who seems to think that investing in Bitcoin is guaranteed to make you money. Or why that person is a user on Silk Road if he thinks that every week he doesn't spend on there he can double his money.
- hugbox 14y ago"the fact remains that you would probably be finanically better of by investing that money rather than trading it for drugs..." No shit? Truly you are one of the great minds of our times.
- corin_ 14y agoThe fact that it is obvious was exactly my point and the reason I was dismissive of that part of the article, so not only have you missed what I was commenting about, you've also acted like a bit of a dick in doing so. Not really necessary.
- drewblaisdell 14y agoYes, but no one (here or in the article) was trying to make the point that buying drugs is a good investment.
- corin_ 14y agoNo, but he (in the article) was trying to make the argument that it is better financially to not by drugs because of Bitcoin rising in value, my point was that this is generally true regardless of whether Bitcoin is involved.
- InclinedPlane 14y ago> the fact remains that you would probably be financially better off by investing that money rather than trading it for drugs False. Investment is risky, the higher the return the riskier. Dealing drugs has potentially a lower rate of return but also a lower financial risk, typically.