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A comment on Bitcoin surpasses $50K as major companies jump into crypto. Parent comment

Re:Bitcoin surpasses $50K as major companies jump into crypto by choward on Tuesday February 16, 2021 @06:19PM (#26160098)
> Why not just buy a small amount of bitcoins now, something you won't mind losing?

Once people stop having this mindset the price will stop rising.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by chillacy on Wednesday February 17, 2021 @12:49PM (#26169216)
Yea but that’s what people thought at 100, 1000, and 10000 too.

A lot of people dismiss the possibility of a 10x rise in price and fixate on the 2x reduction. That kind of pessimism is hardwired in: humans have stronger loss aversion.

But if something has a 20% chance at 10x and 80% chance of 1/2x, that’s still positive EV.

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