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My thinking is that if bitcoin becomes a monetary standard for online commerce it's orders of magnitude undervalued. If not, it's probably overvalued. So it's a

My thinking is that if bitcoin becomes a monetary standard for online commerce it's orders of magnitude undervalued. If not, it's probably overvalued. So it's a perfect asymmetric bet. The most you can lose is the price of buying a few (or many) bitcoins. The most you could win is 100x or maybe even more. It's kind of like making an angel investment, except that instead of investing in a single company, you're investing in an entire economy. Imagine if instead of being able to buy shares in Pets.com or Altavista in 1995, you had a chance to buy a share in the Internet as a whole. That would have been an awesome asymmetric bet

SwellJoe 13y ago
"Imagine if instead of being able to buy shares in Pets.com or Altavista in 1995, you had a chance to buy a share in the Internet as a whole." That's a really striking, and almost frightening, way to look at it. I felt my chest tighten when I read that analogy, actually. It is tempting to go overboard...but, if my gut instinct is right, there's no way to go overboard (aside from going bankrupt buying BTC). Which makes me think I'm probably missing something. Nonetheless, I'm long BTC, and I intend to go more long as the days go by and I have more disposable funds.