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> without putting really any effort or taking any risks He sunk $27 into an investment that (from his knowledge at the time) had a high chance of ending up com
by SEMW 13y ago
> without putting really any effort or taking any risks
He sunk $27 into an investment that (from his knowledge at the time) had a high chance of ending up completely worthless, and a low chance of exploding in value (if bitcoin took off).
That isn't "without taking any risk". On the contrary, it was a very high-risk investment. In this case, it paid off. (It was a low value investment, but that doesn't change the relative risk: making lots of (un- or anti-correlated) low-value, high-risk investments, instead of one big one, is a way to reduce your total risk).
- csomar 13y agoThe guy is living in a Norwegian country. So $27 is probably the price of a meal in an expensive restaurant. I'm assuming he didn't make any investment but was rather curious how this thing work and wanted to hold some of this digital currency. If he was making an investment, he'd have probably followed and tracked it. That was not the case. He just found out about it. Otherwise, my comment wasn't about that particular detail.
- saraid216 13y agoFYI, there's only one Norwegian country. It's Norway.
- rwfilice 13y agoMinnesota?
- jonknee 13y ago> So $27 is probably the price of a meal in an expensive restaurant. That wouldn't qualify as an expensive restaurant in any Western country, let alone Norway (one of the most expensive countries in the world). $27 in Norway would get you about three Big Macs. A nice restaurant would be well north of $100 ($250+ if we agree on what nice is).
- ceejayoz 13y agoYes, it's technically a high-risk investment, but realistically it's essentially zero risk as the loss of $27 in his case probably would have had no consequences.