5 ms·

I thought that last week when it was $300.

• mcv 13y ago
  It's better to get out too early than too late. Quit when you're ahead, is the big rule of gambling. (Which is what this is.)
  • obiterdictum 13y ago
    This reminds me of a story of Sir Isaac Newton and South Sea Company bubble. He got out early, then watched all his friends get rich, jumped back in again with both feet, lost a fortune. Even smart people are not immune to bubbles. http://www.businessinsider.com.au/isaac-newton-and-the-south-sea-bubble-2013-4 http://www.businessinsider.com.au/isaac-newton-and-the-south...
  • VMG 13y ago
    It's quite the opposite of gambling. In a casino, the odds are are exactly defined, and the ROI is negative. This investment has unknown ROI.
    • mcv 13y ago
      Okay, maybe it's more like a pyramid scheme. As long as more people keep flocking to it, prices will go up. But you don't know how long people will keep flocking to it.
      • VMG 13y ago
        Under this definition, every currency is a pyramid scheme
        • phreeza 13y ago
          pyramid schemes backed by governments with police forces and militaries able to collect taxes in said currency.
          • mike_esspe 13y ago
            Gold and silver were a currency and they weren't backed by government.
            • mcv 13y ago
              That's why I don't trust gold and silver either. They lack inherent value.
    • kbenson 13y ago
      It's still gambling, even if it's the opposite of casino games.