Hacker News new | ask | show | jobs
by averagewall 3288 days ago
Early bitcoin winners had the advantage of hardly anyone knowing about or understanding what it was. So they had a kind of inside knowledge within the group of people who understood it enough to imagine the potential.

Now, everyone (ie professional investors) knows about cryptocurrency so you have no advantage over them and you're just gambling.

1 comments

It was always gambling, especially at the start. Bitcoins are still making major gains at the moment.

Here's a strategy that works: Take an amount of money that you own but can miss. This means that you won't go totally crazy when you lose it all. Put that amount in Bitoin, Ethereum and Monero for example. Let it sit there for the next 10 years.

In 10 years, it's either $0 and you lost it all, or it became the best investment you ever did. And that is counted in factors, not percentages.

Worked out so far.