If you value 1 BTC at $25, you should just buy BTC with cash directly.
I should, but I’m not confident enough of my analysis to spend anything but some electricity & time, and I’m very low on money anyway.
If I had a stable income and some savings, I hope I would have the intellectual honesty to invest a few hundred/thousand dollars* into bitcoins (and probably gold while I’m thinking about high-payoff speculation).
Apparently, either most people have not considered that a bitcoin may eventually be worth more than $10,000, or they think the probability of this happening is closer to 0.01%.
Could be both, plus a general refusal by educated/techie types to act on reasoning that smacks too much of lotteries and Pascal’s Wagers.
* Past that I think you get into interesting issues about how much and whether to start discounting bitcoins because $50 million of bitcoins in the jackpot scenario isn’t twice as valuable to you as $25 million of bitcoins in said jackpot scenario. The expected utility isn’t static but should also shrink as one accumulate bitcoins.
I should, but I’m not confident enough of my analysis to spend anything but some electricity & time
Then you don’t value BTCs at 25$ each. Or, more precisely, you only think they will eventually be worth that (on average success), and don’t care for such a mid-term, high-risk investment.
I should, but I’m not confident enough of my analysis to spend anything but some electricity & time, and I’m very low on money anyway.
If I had a stable income and some savings, I hope I would have the intellectual honesty to invest a few hundred/thousand dollars* into bitcoins (and probably gold while I’m thinking about high-payoff speculation).
Could be both, plus a general refusal by educated/techie types to act on reasoning that smacks too much of lotteries and Pascal’s Wagers.
* Past that I think you get into interesting issues about how much and whether to start discounting bitcoins because $50 million of bitcoins in the jackpot scenario isn’t twice as valuable to you as $25 million of bitcoins in said jackpot scenario. The expected utility isn’t static but should also shrink as one accumulate bitcoins.
Then you don’t value BTCs at 25$ each. Or, more precisely, you only think they will eventually be worth that (on average success), and don’t care for such a mid-term, high-risk investment.