Hacker News Reader

Comment by chrisabrams | Hacker News Reader

It's not too late. If you think that it was dumb then, imagine 10 years from now..

that's not how it works. having bought a lottery ticket was still not a good idea even if you won. meaning, bitcoin is still a risky asset, like back then, there is no reason little reason to reliably assert that it will still go up, and not down.

This analogy is comparable to an extent. The odds of making money off bitcoin compared to a lottery ticket are several orders of magnitude higher. When making investments if you want to make large gains some of your money has to be in riskier assets.

Obviously don't put your life savings in bitcoin, anyone who does is not making an intelligent choice. But if you have money to spare that your willing to lose, I wouldn't consider it a horrible investment.

Why is crypto a lottery ticket? I've never viewed it that way. Just because something is a risk to you doesn't mean it's a risk to me. I firmly believe that cryptos are just at the beginning of their value. Maybe you dont. There's many types of investing.

Oh, I totally agree. It is not too late at all to buy now. However mining, can't do it as an individual.

Yeah profitable mining is going away soon too with all the chains trying to reduce energy consumption with proof of stake :O was fun while it lasted.

Not Bitcoin, no. I think it would be atleast a decade before talks for PoS start.

Unsure why you being downvoted; its actually quite good advise. If you disagree then let's get into time machine and I tell you 10 years ago that one bitcoin will be $6,000. As laughable back then as it is to think one bitcoin will be $25,000, which I believe will become once all coins are mined and there is limited quantity available in circulation.

My future self is chuckling about the crypto attack that decimated the value of bitcoin in 2019. Upon reading about the attack, cryptologists around the world sat back from their computer and uttered approximations of the phrase, "Well shit."

It's unpredictable to say it will be worth more in 10 years when it fluctuates rapidly and is not even 10 years old to begin with.

I meet people in NYC all the time that get angry when the topic of cryptos comes up. Not everyone likes change.

I think once it becomes more user friendly more outsiders will adopt. My friends complain about there being so many different exchanges and the process of buying altcoins too complicated. They don't like signing up for more than 1 different site, etc.

Reply on news.ycombinator.com