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Rule of thumb: Don't make speculative investments unless you know something that everyone else doesn't know. How many other people are thinking the _exact same
by jaibot 13y ago
Rule of thumb: Don't make speculative investments unless you know something that everyone else doesn't know.
How many other people are thinking the _exact same thing_ right now?
- 3pt14159 13y agoI bought when only programmers knew ($4 / BTC) buying now would be buying when only techies and finance people know ($400 / BTC) if bitcoin continues to succeed and starts to get used for say, people sending money home to Pakistan it will be AT LEAST ($40,000 / BTC) and probably much much more depending on its usefulness. But the bet now is that it becomes very successful, not that it gains some momentum.
- bmilleare 13y agoOut of curiosity, how much did you buy at $4/BTC?
- fleitz 13y agoOut of even more curiosity, have you unloaded, if not, why is a 10000% return insufficient?
- jaibot 13y agoRe: 10000% return...that's sort of a reverse-sunk-cost fallacy, isn't it? (Found gold fallacy?) Whether or not bitcoin is a good investment is an orthogonal matter.
- 3pt14159 13y agoI don't share that online, but I have sold about 80% of what I bought at different levels. I'm holding on to the rest in case bitcoin gets north of $10k. I'm not a bitcoin millionaire, please don't kidnap me and force me to send you bitcoins :(
- nilkn 13y ago> Don't make speculative investments unless you know something that everyone else doesn't know. Bitcoin has not caught on in the general worldwide population. Simply knowing of its existence and understanding it at this point in time could be the hallowed knowledge you speak of here.
- jaibot 13y agoYou're not comparing your knowledge to the median human - that would be insane. In five minutes you can become vastly more informed than the median human on any specific given investment, because there are millions of possible investments and most people spend most of their time on other things. You're comparing your knowledge to the smartest, richest people looking at the same possible investments as you, because the market has already priced in their predictions.
- jebus989 13y agoThat's just the kind of advice that could lose some keen programmers (with no financial background) a lot of money.
- nilkn 13y agoIt's not advice at all, and I'm not sure why anybody would take it to be.
- jebus989 13y agoFairly obviously because you're saying those in this thread have some kind of inside track on the future of BTC.
- nilkn 13y agoTaking fairly random speculation on the internet from a stranger--which contains no suggestions whatsoever on whether to take any financial action at all--as personal investment advice is the sort of behavior that could lose some keen programmers a lot of money.