Topic: Why Gavin and Evoorhees May Be Giving Wrong Advice (Read 5121 times)

You are barking up the wrong tree. See here.

yeah but Jesus didn't get popular overnight...he had a pretty extreme DDOS before he was resurrected and that took 3 days, and God was involved, and had to hang around a it before assention, even then most of his foloowers were crucified or fed to the lions

Depending on timeframe. In the next 10 years, yeah maybe just paypal replacement, anything is possible thereafter

I personally am very pro Bitcoin, but think that anyone who sees Bitcoin as the future currency of the world is a bit delusional.  Okay, maybe more than a bit.

A viable, possible replacement for Paypal, Western Union, etc. ?  Maybe.  Replacing the USD?  don't see that happening.  I'd like to be proven wrong, but just don't see it.

Yep, ofc he was right 

If bitcoin represented 1% of the currency of the world, and 1% of the invested capital of the world... all of our heads would explode.

well, if everyone only invests of what he afford to lose, how could bitcoin replace the currency of the world

The only advice people need to heed is to risk what you can afford to lose and not take things too seriously.

I'd like to see Gavin and whoever else has public attention explain how it's a GREAT IDEA to invest a SMALL AMOUNT of bitcoin.

Purchasing a small amount of coin supports the project, and allows the user to have fun experimenting while potentially (probably) getting a great ROI.

Many pundits recommend a variety of assets and then piggyback on the success of whichever ones happen to rise in price. Don't believe the hype.

Haha, if only Gavin and Erik had pumped bitcoin more we wouldn't be in the mess. 

Absolutely.  Anyone who thinks otherwise is spending too much time looking in the rear-view mirror.  There may be a lot of people who are quite stressed right now because of what MIGHT happen when Mt Gox opens back up in about 90 minutes, because they 'bought more coins" at $200+ and panic-sell because other exchanges are at $75 - $86 right now.

You can't could have.  I could wish I would have bought in more when I first found out about Bitcoin in Jan 2012, but I can't could have either.  Blaming someone else for your perceived lost opportunity because they were (and probably always will) suggest caution is an unwillingness to take responsibility for your own actions, or lack thereof.

Sound advice.

Okay Jimbo, time for you to lay off on the Kool-Aid for a while

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sit back relax enjoy the ride

You want people on the internet to give you investment advice (for free!) so that you can blame someone else if something goes wrong. Sorry, that's not how it works, you'll have to make your decisions yourself.

If you still insist otherwise, I'll make a deal with you: Tell me how much money you have and I'll tell you a couple of things that you can invest in.

YES! Even in the early Christian church, the leaders of the church were criticizing people who they thought were preaching wrong things about Jesus.

as you wrote, it CAN change the world.  It is a possibility, not a certitude.

otherwise it would pop like 2011, ppl lose fate, coin dies, miserably. Although, if you ignore what they say, ignore the price, and justify it yourself, you would come to a conclusion as "Dump all your shit into bitcoin".

It's a basic equation of risk vs. reward.
In poker and other forms of gambling it's known as EV calculations (expected value).

Say you make a double or nothing bet of $100 with 60% chance of winning. EV is then (60% * 200) + (40% * 0) - $100 or $20, meaning that every time you place that bet you win $20 on average if you make this bet many times. It is however pointless and untrue to claim that if you do this just once and win to claim that you found a system with 100% ROI.

You have to look forward to properly evaluate risk and reward. You can't look back and say "I could have gotten 400% return on my money the last few weeks" because you ignore the risk that you took upon you at the start.

So why don't people take their life savings and bet on sports when the strongest team is playing one of the weak ones with 90% chance of winning ? Because the unexpected can always happen.

Saying you should only invest what you can afford to lose is just sound general advice. And it's something we've seen many times in the past. Bubbles are stronger the more ignorant people are about general financial risk. Around 2000 many internet stocks gained 20 to 50 times its initial value, many stocks easily went from $2 to $100 within months. And the same thing happened, many heated discussions from fanatics that insulted and ridiculed anyone talking about the chance of a crash, who could only see one thing: if I put all my life savings into this thing I'll get rich. In general, once you feel you have to rush and get in today or else you fear missing out on a great opportunity, it'll usually end in tears.

It can go to zero. Something much better could come around and replace it. Gold isn't lasting forever people say... So why should BTC?

Probably in future we could make something better if large group of people put some interest in it...