21–30 of 68 posts
This ought to be as newsworthy as the headline "Gambler just made $120M using a strategy called 'bet it all on a horse with 20-1 odds"
It's not, because the risk is calculated. Finance has been doing the same for ages, so these people may come from a very traditional finance background...
Wouldn't a sane individual cash it in and retire at that point? Even cashing 1/2 of it would pay for pretty much any lifestyle a person might want...
Was it a 10% overnight return? That's a fantastic return, but plenty of traditional market gamblers have pulled that off. Doesn't diminish their success in any way. I'm trying to figure out how much they gained as a percentage of the gambled amount, as the actual dollar amount doesn't mean much.
So who lost $120M? This is a zero-sum system.
One model is "total assets go up, no one loses".
Another is "those who want to use the assets in the future will have to pay more for them".
I have $1 asset.
I have $2 asset and $1 loan.
I have $3 asset and $2 loan.
So who lost $120M? This is a zero-sum system.
This ought to be as newsworthy as the headline "Gambler just made $120M using a strategy called 'bet it all on a horse with 20-1 odds"
It's not, because the risk is calculated. Finance has been doing the same for ages, so these people may come from a very traditional finance background...
Obviously you can research the eth market and form a view but you can also research horse racing form and the odds themselves should be a fair calculation indicator if the betting market is working well - so it seems fair to suggest that this is in the same category as a horse racing bet.