The only reason I persisted was because I was interested in the cryptography aspect and wanted to be a part of an up-and-coming technology.
And that is a reward I guess a very high fraction of the people actually ‘investing’ in Bitcoin had. Those hackers, nerds, tech enthusists didn’t need high fractions of likelihood times payoff.
And maybe the true lesson to draw from this is not to look at an abstract payoff but at the social dynamic: Are there enough people attracted to something.
And that is a reward I guess a very high fraction of the people actually ‘investing’ in Bitcoin had. Those hackers, nerds, tech enthusists didn’t need high fractions of likelihood times payoff.
And maybe the true lesson to draw from this is not to look at an abstract payoff but at the social dynamic: Are there enough people attracted to something.