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This guy's approach reminds me of Taleb's barbell strategy of investment: http://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb#Philosophical_theories http://en.wi
by mendelsd 13y ago
This guy's approach reminds me of Taleb's barbell strategy of investment: http://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb#Philosophical_theories http://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb#Philosoph... (described more thoroughly in his 'Black Swan' book). Basically: put ~90% of your money into stuff that's as safe as can be, and put the rest into highly speculative bets with a large upside.
- sireat 13y agoThe buyer actually was not investing in the sense Taleb describes. The buyer was simply lucky enough to be studying cryptography in 2009 (not in <2007 or 2011>) and saw a cool new approach. He did not buy with the intention of huge upside else he would have taken a more prudent approach to securing his coins. How many had heard of bitcoin until the first slashdot article or first reddit appearance? How many missed those and only heard about it when the first newspaper articles appeared? Unless you were lucky enough to be following certain cryptography related mailing lists, chances of you coming accross bitcoin were close to nil until 2010.