Easiest Path to Riches on the Web? An Initial Coin Offering

Re:Easiest Path to Riches on the Web? An Initial Coin Offering by sanswork on Sunday June 25, 2017 @08:16PM (#14633006)

>in fact probably more difficult and I would think a lot of that money is coming from people who were already made rich by other coin like bitcoin.

That's why it is easier. You have a bunch of gamblers who have gotten lucky on one bet thinking they are now master investors. They have seen a few ICOs pop so they are willing to take a punt on any that come through pretty much even if it makes no sense.

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Re:Easiest Path to Riches on the Web? An Initial Coin Offering by to3m on Sunday June 25, 2017 @08:37PM (#14633104)

I claim it can be +EV even when it's a punt. Suppose you make 3x on your first bet, as I did - and it's a long story why i settled for such a poor return ;) - you can then "invest" 2/3 of your winnings, and even if it all goes to nothing then you've still broken even.

But in the current climate a 0% return seems, at least for now, unlikely....

(In the interests of even-handedness: Preston J Byrne, quoted in the article, is worth listening to, especially if you are by nature inclined to be a true believer when it comes to this kind of thing. Relevant thread: https://news.ycombinator.com/item?id=14573875)

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Re:Easiest Path to Riches on the Web? An Initial Coin Offering by sanswork on Sunday June 25, 2017 @09:01PM (#14633203)

Winning your first bet doesn't make the others +EV even if you cash out your initial investment. That's not how EV works.

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Re:Easiest Path to Riches on the Web? An Initial Coin Offering by to3m on Monday June 26, 2017 @02:22AM (#14634507)

Yes, you're right, sorry.

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