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I've seen my bitcoin holdings rise and fall by orders of magnitude, but mostly it rises. You can get used to it if you have a bit of a buffer for living expense
by jaekwon 13y ago
I've seen my bitcoin holdings rise and fall by orders of magnitude, but mostly it rises. You can get used to it if you have a bit of a buffer for living expenses.
It's no more irrational than being an entrepreneur.
- thenmar 13y agoIt's quite a bit more irrational than being an entrepreneur, especially if you've invested so much of your money in bitcoin that living expenses are a "buffer".
- jaekwon 13y agoIf you do the calculations, you might find that the expected utility return from investment in Bitcoin is much greater than the expected utility return from bootstrapping a business.
- smtddr 13y ago>>It's no more irrational than being an entrepreneur. I love this whole bitcoin thing, but let's not get carried away. Bitcoin is not at all comparable to starting a business unless _you_ are satoshi... then maybe we can talk. Bitcoin is just a step above blackjack at the casino; in that if you guess wrong you're money isn't just plain gone. You just have overpriced coins that you have to hold on to until the price rises again. Stock market is same, but you have some kinda business-logic and info to go on. Example, should you invest in Twitter now since their stock dropped recently? There is solid data and trends to look at. Your guess will be at least based on something. For bitcoin, who knows! Tomorrow MtGox might shut down, or Google might come out with G-Unit coins.
- jaekwon 13y agoHey, just because it's a crapshoot for you doesn't mean it is for me. Arguably there is more solid data in Bitcoin than in other closed companies.