Plenty of people on less wrong have heard about bitcoin for years now, and most probably have done nothing about it, and feel like they missed the boat.
Maybe people should think about taking it seriously for a bit, and actually consider whether it is a worthwhile investment.
I think it is far better for us as a community, ad for our collective ability to support effective altruism and the causes we believe in, if a lot of people here this advice at a time when bitcoin is relatively low, than that they get interested at a peak when all of the media is talking about it.
Plenty of people on less wrong have heard about bitcoin for years now, and most probably have done nothing about it, and feel like they missed the boat.
Same is true for Microsoft, and Apple, and Google stock, for example—a lot of people feel they missed the boat on those. Funny how the wish of having bought AAPL at the bottom sticks in the mind, while the memory of people bankrupted by the dot-com crash, for example, doesn’t. You could almost think that there was some… bias there?
Maybe people should think about taking it seriously for a bit, and actually consider whether it is a worthwhile investment.
Sure. Care to make a case for it? With numbers, please. Most of bitcoin promotion that I see is generally based on the greater fool theory.
Here were the numbers that I used to decide to buy up until the spring of 2013 and start selling last fall.
I sold more than half of my holdings last fall/winter, but I’m still holding a bunch while I wait for the Winklevoss twins to get their ETF approved and for enough exchanges to be set up around the world to enable the remittance use case to really take off (once neither the sender nor the receiver needs to hold BTC).
Once those things either happen or seem like they’re not going to happen, I plan to sell a large portion of what I have left and then keep a bit in reserve just in case one of the truly crazy scenarios referenced in that reddit comment comes to pass.
Plenty of people on less wrong have heard about bitcoin for years now, and most probably have done nothing about it, and feel like they missed the boat.
Maybe people should think about taking it seriously for a bit, and actually consider whether it is a worthwhile investment.
I think it is far better for us as a community, ad for our collective ability to support effective altruism and the causes we believe in, if a lot of people here this advice at a time when bitcoin is relatively low, than that they get interested at a peak when all of the media is talking about it.
Same is true for Microsoft, and Apple, and Google stock, for example—a lot of people feel they missed the boat on those. Funny how the wish of having bought AAPL at the bottom sticks in the mind, while the memory of people bankrupted by the dot-com crash, for example, doesn’t. You could almost think that there was some… bias there?
Sure. Care to make a case for it? With numbers, please. Most of bitcoin promotion that I see is generally based on the greater fool theory.
Here were the numbers that I used to decide to buy up until the spring of 2013 and start selling last fall.
I sold more than half of my holdings last fall/winter, but I’m still holding a bunch while I wait for the Winklevoss twins to get their ETF approved and for enough exchanges to be set up around the world to enable the remittance use case to really take off (once neither the sender nor the receiver needs to hold BTC).
Once those things either happen or seem like they’re not going to happen, I plan to sell a large portion of what I have left and then keep a bit in reserve just in case one of the truly crazy scenarios referenced in that reddit comment comes to pass.
Given that you have decided to downvote all my posts in this thread, no I am not feeling compelled to help you out in your investigation.
I would hope that anyone who is interested could go research, and then use their rationality powers to come to a conclusion for themself.
I rarely downvote posts in threads in which I participate. I have not downvoted a single post of yours.