I calculated back in June that if ETH spent the 2nd half of 2017 the way it spent the first half of 2017, it'd be at $8k by December 31. At the same time, my friends who was salty at me for not telling them to get into ETH at 70 cents are saltier than if I hadn't said anything because he bought BTC at $1000 by mistake and sold it for ETH at $300. Was it Tversky and Kahneman that calculated humans are five times as affected by a loss as they are as a gain? He would have been up 0%, instead he's up 100% but he could have been up 17,000% therefore I'm the bad guy.
Totally them. I've been reading the new Dan Ariely lately, which is about the stupid ways we think about money. It's not a bad book but if you're well-versed in pop economics you probably know most of the book already. With this latest Bitcoin rise from 1k-17k I also wondered if I made a mistake - but then I remembered that I have no freakin' clue how to call the top, and neither does your friend. I probably would've gotten out at 2k if I'd bought at 1k.Was it Tversky and Kahneman that calculated humans are five times as affected by a loss as they are as a gain? He would have been up 0%, instead he's up 100% but he could have been up 17,000% therefore I'm the bad guy.
You know it's funny. My $25k Porsche has become a $55k Porsche and it's only been six weeks. I figured that would drive me to distraction. I figured I'd be super-salty about it. I figured the minute I pulled that cash I'd be morose about the profits that I was figuratively pouring down the drain. Instead? Don't care. Porsche. On the one hand, I recognize that the crypto I liquidated will hopefully be worth a lot more some day. On the other hand, I drive that car every day. EVERY DAY it is a joy. Every day it is more than a number in an app, a set of barcodes in a safety deposit box. It has a name, it has a personality, it growls its way to 90mph with astonishing alacrity and it warms my ass on cold winter days. And i conjured it out of NOTHING. I can look at that car two ways: It's either my $55k-and-counting Porsche, or it's my $58 Porsche 'cuz that's what I spent for the Ether I cashed out for it. Laszlo Hanyecz bought a $410,000 pizza.. At the time, $409,990 was the transaction fee for turning a virtual good into a physical good. If Jeremy Sturtevant still has that 10,000 BTC he's got what? $170 million right now? Fuckin' Laszlo got some pizza. That 10,000 btc probably cost him pennies. Time flies like an arrow; fruit flies like a banana.