Re:Fake Books
by bluGill on Monday October 24, 2022 @02:00PM
(#33320110)
How do you know if things are early though? Some go longer than others, so you can see some quack getting attention and buy in - just in time to be the last fool as everyone else realizes it is garbage. Or it can continue to go up - you have no way to know.
[ Parent
| on HN ]
For myself, personally - that's an easy metric...
By the time I hear about something, it's too late.
Re:Fake Books
by BossingAround on Monday October 24, 2022 @03:50PM
(#33321643)
There are ten, if not hundreds, failed pyramid schemes for every one on which you could make money. The schemes are not made for you. The way to earn money off of pyramid schemes is to create one.
Whether bitcoin is just a pyramid scheme or not, only time will tell. I don't believe so, but I'm not an economist, so who am I to say :).
I bought some cryptocurrencies on Coinbase about a year ago. Today I figured was as good a time as any to cash out. My net loss was about 70%.
I'm fortunate that this was a small amount relative to my net worth to count as a fun "experiment" and not a significant chunk of the money I need to survive.
Based on this N=1 experiment, I now feel justified in suggesting more profitable and environmentally friendly endeavors, such as lighting half your money on fire.
Check back at this comment in 3 years.