FreeSpeech

6 ms·

1. 31.▲
   by FreeSpeech 5y ago

   Except the OP was (almost certainly) in possession of $20 USD in 2012. The opportunity cost of buying that Pizza with Bitcoin rather fiat totals ~$34k at the time of comment.
2. 32.▲
   by FreeSpeech 5y ago

   Similar to the Monty Hall problem [1], the mistake you're making is calculating the opportunity cost at the time of sale, rather than within the context of perspective. Opportunity cost is dynamic, not static. If I approached you in 20
3. 33.▲
   by FreeSpeech 5y ago

   They should feel silly. It's not the market value of the spent Bitcoin ($20), but the opportunity cost (~$34k).
4. 34.▲
   by FreeSpeech 5y ago

   If it isn't obvious, your simplified accounting excludes opportunity cost. Actualised losses are much higher (otherwise insurance companies would be marketing the same logic).
5. 35.▲
   by FreeSpeech 5y ago

   You bought a house 20 years ago for $200k. Today, it is valued at $2M. What's your insurance payout if it burns down tomorrow?
6. 36.▲
   by FreeSpeech 5y ago

   For the same reason you shouldn't use peak valuation when estimating losses, you shouldn't use buy in value either. Your loss is 2.5M × market rate at the time of loss.
7. 37.▲
   by FreeSpeech 5y ago

   The true test of any bill of this nature is to hand it over to your enemies to run. If you wouldn't be comfortable with the Trump administration defining "hate speech", you shouldn't be comfortable with Trudeau defining