Did the folks who got rich off of Bitcoin essentially win the Lotto?
https://www.facebook.com/cnbc/videos/10155651947844369/
I have been having a debate over this story. My debate essentially asserts that this kid was a shrewd investor and not just someone who won the "Powerball". The difference between speculation and an educated risk is the point I am trying to get at. There is a big difference between taking your mother's birthday and trying to guess numbers randomly out of a hat and taking an educated guess at a failing fiat currency and a technology that will potentially revolutionize the world: blockchain. Then having the gumption to taking your money and investing in that technology.
There is a big difference between that and taking that same money and buying quick picks at your local deli.
What are your thoughts?
Please up vote or reply.
Have a great day!
i can see that there were probably who saw the value of a non-national currency but there were probably just as many who threw a dart and by pure chance hit the bullseye. I'm currently just getting into cryptocurrency. It seems as though that now that people are starting to see the value it isn't any easier than before. with so many currencies being created each year if you want to catch real winner BEFORE it breaks out you are still going to be throwing darts and praying.
I believe that it is an educated investment, that has paid off. The white paper was released at the inception of the technology, so literally any interested party could have learnt about what Bitcoin is prior to it being worth anything. Myself, not understanding the nuance of cryptography and the way it is used to secure Bitcoin, did understand the concept behind it and the benefit of a de-centralized currency. I only wish, I had bought in with a greater sum in the beginning. I knew in my heart that I agreed with the whole concept of being your own bank, I just did not understand whether or not bitcoin would ever be worth anything at the time.