rpietila Calling the Bottom - page 2.

rjclarke2000

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Quote from: fisheater22 on August 04, 2015, 01:58:57 PM

Quote from: rjclarke2000 on August 04, 2015, 01:47:12 PM

...
Why is everyone being funny about this?

We all want to be successful right?

In that case, you should take advice from every lotto winner and every hobo who finds a diamond tiara in the gutter. They are, after all, successful, and worthy of emulation.

My post is addressing just that: Is this a person whose judgement should be trusted, since his success was based solely on intelligence, or did luck play a role, as it did with the successful people described above?

Mr. rpietila seems to suggest that luck is not a factor here, I'm merely trying to understand his position.

Surely researching something such as Bitcoin and then after taking into consideration what it has to offer isn't luck.

i understand the luck bit by hearing about it before a lot of people but correct me if I am wrong, I believe Risto has had success investing in the past before Bitcoin. He says 17 years experience so if he bought Bitcoin 5 years ago that means you are saying he has made no money investing in the 12 years prior.

I find this hard to believe.

fisheater22

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Quote from: rjclarke2000 on August 04, 2015, 01:47:12 PM

...
Why is everyone being funny about this?

We all want to be successful right?

In that case, you should take advice from every lotto winner and every hobo who finds a diamond tiara in the gutter. They are, after all, successful, and worthy of emulation.

My post is addressing just that: Is Mr. rpietila's a person whose sound judgement made him wealthy, or was it something else? Should his advice be considered valid without further questions, or did luck play a role in his success, as it did with the successful people described above?

Mr. rpietila seems to suggest that luck is not a factor here, I'm merely trying to understand his position.

rjclarke2000

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Activity: 1358

Merit: 1016

Quote from: rpietila on August 04, 2015, 01:39:08 PM

Quote from: fisheater22 on August 04, 2015, 01:36:03 PM

Quote

Buying CKG when it was depressed was smart, because it can only go to zero, but the upside is not limited.

This is different from every investment in general, and every cryptocurrency in particular, exactly how?

Explained in the sentence following the one quoted.

Are you willing to learn or not? I have a 17 year experience on online investing and while some may have more, it seems that most of the guys here have considerably less, to their detriment.

I'll always listen to advice from successful people. They are successful for a reason. I believe some people could do with learning and being respectful.

Why is everyone being funny about this?

We all want to be successful right?

fisheater22

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Activity: 84

Merit: 10

Quote from: rpietila on August 04, 2015, 01:39:08 PM

Quote from: fisheater22 on August 04, 2015, 01:36:03 PM

Quote

Buying CKG when it was depressed was smart, because it can only go to zero, but the upside is not limited.

This is different from every investment in general, and every cryptocurrency in particular, exactly how?

Explained in the sentence following the one quoted.

Are you willing to learn or not? I have a 17 year experience on online investing and while some may have more, it seems that most of the guys here have considerably less, to their detriment.

This sentence?
"The project was "backed" by me so everyone knowing me and doing the math should have realized that investing is a profitable proposition."
How does that address your claim of " ... it can only go to zero, but the upside is not limited"?
My question stands: What makes CKG different from other investments, in respect to " ... it can only go to zero, but the upside is not limited"?

Are you suggesting that your friend was smart because he thinks you're smart? Also not sure what you mean by "doing the math," explain?

Also a second edit you may have missed:

Quote from: fisheater22 on August 04, 2015, 01:13:27 PM

...
More questions: In this post (https://bitcointalksearch.org/topic/ann-ckg-crypto-kingdom-gold-966001), there's a claim stating "CKG has been actively traded in the ingame exchange and now is moving to a leading Crypto exchange." May I ask which leading exchange?

rpietila

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Quote from: fisheater22 on August 04, 2015, 01:36:03 PM

Quote

Buying CKG when it was depressed was smart, because it can only go to zero, but the upside is not limited.

This is different from every investment in general, and every cryptocurrency in particular, exactly how?

Explained in the sentence following the one quoted.

Are you willing to learn or not? I have a 17 year experience on online investing and while some may have more, it seems that most of the guys here have considerably less, to their detriment.

fisheater22

member

Activity: 84

Merit: 10

Quote from: rpietila on August 04, 2015, 01:27:43 PM

Quote from: fisheater22 on August 04, 2015, 01:13:27 PM

Quote from: rpietila on August 04, 2015, 12:42:36 PM

... My friend bought 60,000 CKG so is sitting on quite nice gains.

Not sure I'm following you, are you saying that your friend was smart, because he made money on CKG?
Wold he be less smart if he bought 60k CKG and lost money?

Is the guy who bought a winning lottery ticket smarter than the guy who bought a losing one?

Edit: Just did a quick search for CKG, and it seems to be an in-game currency, tokens, like WoW gold, correct?

Yes, I think he was smart.

No, it is not about if a positive or a negative scenario unfolds that makes us smart.

In that case, why bring up that your friend made money, as if that somehow supported your claim of his intelligence?
If your friend has no inside information, how is he any smarter than those playing other "investment-based games" in the Investment Based Games" section of this forum?

Quote

Buying CKG when it was depressed was smart, because it can only go to zero, but the upside is not limited.

This is different from every investment in general, and every cryptocurrency in particular, exactly how?

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: fisheater22 on August 04, 2015, 01:13:27 PM

Quote from: rpietila on August 04, 2015, 12:42:36 PM

... My friend bought 60,000 CKG so is sitting on quite nice gains.

Not sure I'm following you, are you saying that your friend was smart, because he made money on CKG?
Wold he be less smart if he bought 60k CKG and lost money?

Is the guy who bought a winning lottery ticket smarter than the guy who bought a losing one?

Edit: Just did a quick search for CKG, and it seems to be an in-game currency, tokens, like WoW gold, correct?

Yes, I think he was smart.

No, it is not about if a positive or a negative scenario unfolds that makes us smart. Buying silver before Bitcoin existed was extremely smart, even if it did not bring that much profits. Smartness is investing in projects that on average return positively. It is hard to detect, because the average is heavily dominated by the mooners - eg. I am smart, which consists of 19 projects that go to zero and 1 (BTC) that returned 200x.

Buying CKG when it was depressed was smart, because it can only go to zero, but the upside is not limited. The project was "backed" by me so everyone knowing me and doing the math should have realized that investing is a profitable proposition.

CKG is the dividend-paying share of the game, CK.

fisheater22

member

Activity: 84

Merit: 10

Quote from: rpietila on August 04, 2015, 12:42:36 PM

... My friend bought 60,000 CKG so is sitting on quite nice gains.

Not sure I'm following you, are you saying that your friend was smart, because he made money on CKG?
Wold he be less smart if he bought 60k CKG and lost money?

Is the guy who bought a winning lottery ticket smarter than the guy who bought a losing one?

Edit: Just did a quick search for CKG, and it seems to be an in-game currency, tokens, like WoW gold, correct?
More questions: In this post (https://bitcointalksearch.org/topic/ann-ckg-crypto-kingdom-gold-966001), there's a claim stating "CKG has been actively traded in the ingame exchange and now is moving to a leading Crypto exchange." May I ask which leading exchange?

Erdogan

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Quote from: dothebeats on August 04, 2015, 12:38:49 PM

Quote from: rpietila on August 04, 2015, 12:34:45 PM

Quote from: manselr on August 04, 2015, 12:28:51 PM

Quote from: Warren Buffert on August 04, 2015, 11:58:05 AM

Quote from: rpietila on August 15, 2014, 08:01:00 AM

The price shows the daily birth rate. I am writing this from a castle that I bought with money earned by trading Bitcoin based on the very premise I have explained to you here.

Don't lose the faith people. Taxes, maintenance, and utilities on these castles aren't cheap (they're very drafty, after all). Risto needs more bag holders to keep up on his payments!

It sucks that some people got filthy rich out of luck by being at the right time doing the right thing

I understand that being at the right time doing the right thing makes you filthy rich, but how is that related to luck?? Huh

Well, not all people experience doing the right thing at the right time i.e. me when bitcoin was in its infancy. If I only knew bitcoin back then, I would have been a millionaire now, but no. Also, no one knows for certain back then that bitcoins would be that big, so I think those who hopped the train early were very, very lucky to be doing the right thing at the right time, and that is before the ATH of Nov. 2013. Well, that was the first wave of luck that bitcoin brought to us so far. Who knows? Maybe there might be another lucky event that at this time, we are going to be included?

For some, it was not luck. If you have read rpietilas writings, you would know that for him it was certainly not a question of luck, and what he did was in conformance with the rights of all other beings.

You have the right to sulk and pout, and express it, no problems there, it is more of an advice that this is not in your self interest. You use time and effort, and it closes your mind, and if you had used that in stead to study bitcoin, you would have seen that it is not too late. You are unable to inform yourself and act. I usually don't bother, there are just too many of you.

dothebeats

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Cashback 15%

Quote from: rpietila on August 04, 2015, 12:42:36 PM

I claim that being "lucky" is having a positive expected value in your projects. That makes some of them succeed greatly, and others perceive you as lucky.

Was it luck to buy Crypto Kingdom gold in December-2014?

I don't think so. I mentioned it to everybody that it is as cheap as it gets (with high risk) and bying is the right thing. Some bought, others not. My friend bought 60,000 CKG so is sitting on quite nice gains.

Your friend isn't lucky, he already knows what he is doing back then. In the case of bitcoin, it is a completely new economy back then: no one knows for certain whether this is going to go big or go broke, whereas CKG was launched (2014) long after bitcoin was launched (2009). At this point in time, there are already people who knows how this works, and if you know what your actions will be, if it yields you a positive result, then it is no longer called luck, but rather skill. Bitcoin is different, because as I've said earlier, it is entirely new. No one knows what to do from point A to point B; they just hold it and luckily it gained traction because people noticed it.

rpietila

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I claim that being "lucky" is having a positive expected value in your projects. That makes some of them succeed greatly, and others perceive you as lucky.

Was it luck to buy Crypto Kingdom gold in December-2014?

I don't think so. I mentioned it to everybody that it is as cheap as it gets (with high risk) and bying is the right thing. Some bought, others not. My friend bought 60,000 CKG so is sitting on quite nice gains.

dothebeats

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Activity: 3542

Merit: 1352

Cashback 15%

Quote from: rpietila on August 04, 2015, 12:34:45 PM

Quote from: manselr on August 04, 2015, 12:28:51 PM

Quote from: Warren Buffert on August 04, 2015, 11:58:05 AM

Quote from: rpietila on August 15, 2014, 08:01:00 AM

The price shows the daily birth rate. I am writing this from a castle that I bought with money earned by trading Bitcoin based on the very premise I have explained to you here.

Don't lose the faith people. Taxes, maintenance, and utilities on these castles aren't cheap (they're very drafty, after all). Risto needs more bag holders to keep up on his payments!

It sucks that some people got filthy rich out of luck by being at the right time doing the right thing

I understand that being at the right time doing the right thing makes you filthy rich, but how is that related to luck?? Huh

Well, not all people experience doing the right thing at the right time i.e. me when bitcoin was in its infancy. If I only knew bitcoin back then, I would have been a millionaire now, but no. Also, no one knows for certain back then that bitcoins would be that big, so I think those who hopped the train early were very, very lucky to be doing the right thing at the right time, and that is before the ATH of Nov. 2013. Well, that was the first wave of luck that bitcoin brought to us so far. Who knows? Maybe there might be another lucky event that at this time, we are going to be included?

rpietila

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Activity: 1722

Merit: 1036

Quote from: manselr on August 04, 2015, 12:28:51 PM

Quote from: Warren Buffert on August 04, 2015, 11:58:05 AM

Quote from: rpietila on August 15, 2014, 08:01:00 AM

The price shows the daily birth rate. I am writing this from a castle that I bought with money earned by trading Bitcoin based on the very premise I have explained to you here.

Don't lose the faith people. Taxes, maintenance, and utilities on these castles aren't cheap (they're very drafty, after all). Risto needs more bag holders to keep up on his payments!

It sucks that some people got filthy rich out of luck by being at the right time doing the right thing

I understand that being at the right time doing the right thing makes you filthy rich, but how is that related to luck?? Huh

manselr

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Activity: 868

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Quote from: Warren Buffert on August 04, 2015, 11:58:05 AM

Quote from: rpietila on August 15, 2014, 08:01:00 AM

The price shows the daily birth rate. I am writing this from a castle that I bought with money earned by trading Bitcoin based on the very premise I have explained to you here.

Don't lose the faith people. Taxes, maintenance, and utilities on these castles aren't cheap (they're very drafty, after all). Risto needs more bag holders to keep up on his payments!

It sucks that some people got filthy rich out of luck by being at the right time doing the right thing, but that doesn't change the value Bitcoin has and the technology itself, so like it or not, the early ristos out there are about to get a lot more richer in the next decade because this thing is never going away at this point. Let's just deal with the facts and try to profit from it as much as possible instead of crying about how unfair life is.

Warren Buffert

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Quote from: rpietila on August 15, 2014, 08:01:00 AM

The price shows the daily birth rate. I am writing this from a castle that I bought with money earned by trading Bitcoin based on the very premise I have explained to you here.

Don't lose the faith people. Taxes, maintenance, and utilities on these castles aren't cheap (they're very drafty, after all). Risto needs more bag holders to keep up on his payments!

sporket

sr. member

Activity: 280

Merit: 250

Quote from: cbeast on February 03, 2015, 11:16:49 PM

...
Godwin's Law makes you lose every argument.
[assorted faggotry]
Quoting Wired? Hello, the 1990s are calling and want their relevancy back.

>Wired is so totally 90s
>refs Godwin's Law
>still uses Bitcoin in 2015

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: sporket on February 03, 2015, 09:44:46 AM

Quote

And WW2 had done more damage

Godwin's Law makes you lose every argument.

Quote

A broken leg isn't as bad as lung cancer

Quote

Gambling addiction has nothing to do with casinos

Quote

SR was fail & aids

Quote

Sure, even a cat may look at a king

Wait two hours after doing drugs before posting.

Quote

http://www.wired.com/2015/02/read-transcript-silk-roads-boss-ordering-5-assassinations/ .

Quoting Wired? Hello, the 1990s are calling and want their relevancy back.

mmitech

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things you own end up owning you

Quote from: cbeast on February 03, 2015, 09:08:03 AM

Quote from: Dusty on February 03, 2015, 05:29:06 AM

Quote from: JorgeStolfi on January 14, 2015, 12:52:24 AM

Really? Could you please explain how those 100'000 people get more "freedom from oppresive governments" by using bitcoin? Is "freedom" just evading taxes, or buying illegal drugs, weapons, child porn -- or is there something else?

Claim: in its 6 years of existence, bitcoin has caused 1000x more damage than benefits to the world.

Bitcoin has given me hope to be one day free from the ideas that governs your way of thinking.

Thanks for continually remind me it with every post you make.

There is a group of casinos near my property that has done 10000x more damage than Bitcoin. I've heard of so many families destroyed, homes lost, and gambling addiction leading to crime or worse. Casinos pay fines for cheating smaller than their take, so there is no incentive to do so. They cause drug cartels and organized crime to enter nearby towns and cities. Bitcoin could eliminate cheating casinos and replace them with provably fair ones. Silk Road already proved that Bitcoin prevents drug dealing and other crimes.

The biggest problem with JorgeStolfi is he thinks too small. Its people like him that prevent the needed help from getting to victims of government abuse.

I agree on the fact that gambling is a serious problem, but I don't get how is this related to Bitcoin risks.... in fact mix Bitcoin risks with gambling risks and you get a killer new risk that have never been introduced until Bitcoin inception.

- First funny fact, there is no such as "fair gambling".
- Second funny fact, gambling transactions makes a big piece of Bitcoin daily transactions volume, if not the biggest.... which really gives you a picture about how Bitcoin is used, and about the current user base. (excluding the hoarders and traders)
- Third Funny fact, Silkroad is one of the sites that destroyed so many lives, even the lives of those idiots who did run it, thanks to Bitcoin.

sporket

sr. member

Activity: 280

Merit: 250

Quote from: cbeast on February 03, 2015, 09:08:03 AM

Quote from: Dusty on February 03, 2015, 05:29:06 AM

Quote from: JorgeStolfi on January 14, 2015, 12:52:24 AM

Really? Could you please explain how those 100'000 people get more "freedom from oppresive governments" by using bitcoin? Is "freedom" just evading taxes, or buying illegal drugs, weapons, child porn -- or is there something else?

Claim: in its 6 years of existence, bitcoin has caused 1000x more damage than benefits to the world.

Bitcoin has given me hope to be one day free from the ideas that governs your way of thinking.

Thanks for continually remind me it with every post you make.

There is a group of casinos near my property that has done 10000x more damage than Bitcoin.

And WW2 had done more damage still, what's your point? A broken leg isn't as bad as lung cancer, which doesn't even begin to imply that a broken leg's a *good* thing.

Quote

I've heard of so many families destroyed, homes lost, and gambling addiction leading to crime or worse. Casinos pay fines for cheating smaller than their take, so there is no incentive to do so. They cause drug cartels and organized crime to enter nearby towns and cities. Bitcoin could eliminate cheating casinos and replace them with provably fair ones. Silk Road already proved that Bitcoin prevents drug dealing and other crimes.

1. Gambling addiction has nothing to do with casinos cheating or being "provably fair."
2. "Drug cartels" are no less likely to be attracted to "provably fair" casinos than ones that cheat.
3. SR was fail & aids, also http://www.wired.com/2015/02/read-transcript-silk-roads-boss-ordering-5-assassinations/ .

Quote

The biggest problem with JorgeStolfi is he thinks too small. Its people like him that prevent the needed help from getting to victims of government abuse.

The biggest problem lies not with Jorge, but with your tenuous, crude & uninformed grasp of economics.
Sure, even a cat may look at a king, though a cat judging a king is the height of arrogance.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: Dusty on February 03, 2015, 05:29:06 AM

Quote from: JorgeStolfi on January 14, 2015, 12:52:24 AM

Really? Could you please explain how those 100'000 people get more "freedom from oppresive governments" by using bitcoin? Is "freedom" just evading taxes, or buying illegal drugs, weapons, child porn -- or is there something else?

Claim: in its 6 years of existence, bitcoin has caused 1000x more damage than benefits to the world.

Bitcoin has given me hope to be one day free from the ideas that governs your way of thinking.

Thanks for continually remind me it with every post you make.

There is a group of casinos near my property that has done 10000x more damage than Bitcoin. I've heard of so many families destroyed, homes lost, and gambling addiction leading to crime or worse. Casinos pay fines for cheating smaller than their take, so there is no incentive to do so. They cause drug cartels and organized crime to enter nearby towns and cities. Bitcoin could eliminate cheating casinos and replace them with provably fair ones. Silk Road already proved that Bitcoin prevents drug dealing and other crimes.

The biggest problem with JorgeStolfi is he thinks too small. Its people like him that prevent the needed help from getting to victims of government abuse.

Topic: rpietila Calling the Bottom - page 2. (Read 45360 times)