> Please don't play with more than you can afford to lose.
When considering investing in something like bitcoin, draw out a table of what you expect the outcome to be 10 years from now. Rows can be bitcoin price ranges (each row having what you believe is a roughly equal chance of happening), and columns can be how much you invested in it. Rate your expected happiness (use some scale -100 to 100?) from each result in each square. Keep in mind that if bitcoins reach a high number like $100,000 and you didn't invest, you will feel like you lost that money. (I feel this way now, from not investing previously - and it kills me. Happiness -25 maybe.)
The only logical thing to do, at this point, is pick the column that results in the highest happiness.
It turns out that for those of us who believe there's a reasonable likelihood (25% or greater) that bitcoins will be very high ($1 million or higher) over its lifetime, the logical thing to do is actually to put the vast majority of our savings into bitcoin. Nearly all of it, in fact.
When considering investing in something like bitcoin, draw out a table of what you expect the outcome to be 10 years from now. Rows can be bitcoin price ranges (each row having what you believe is a roughly equal chance of happening), and columns can be how much you invested in it. Rate your expected happiness (use some scale -100 to 100?) from each result in each square. Keep in mind that if bitcoins reach a high number like $100,000 and you didn't invest, you will feel like you lost that money. (I feel this way now, from not investing previously - and it kills me. Happiness -25 maybe.)
The only logical thing to do, at this point, is pick the column that results in the highest happiness.
It turns out that for those of us who believe there's a reasonable likelihood (25% or greater) that bitcoins will be very high ($1 million or higher) over its lifetime, the logical thing to do is actually to put the vast majority of our savings into bitcoin. Nearly all of it, in fact.