You basically just confirmed that, from beginning, it's just gambling.

Being lucky on your bet doesn't make it a wise investment. I wouldn't call you dumb. I don't know how gamblers feel about their moves.

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SirMaster 2 days ago | parent [-]

And the stock market isn't gambling? I view it as such.

Was this more or less risky than buying $1000 in scratch offs, or lottery tickets, or spending $1000 in Vegas?

In my opinion, crypto when I bought it had a lot more "potential" than any of those more "traditional" forms of gambling which is why I was willing to give it a try with a sum of less than 1% of my yearly income...

I am not saying it was a smart choice, just that I don't think it was a particularly stupid choice.

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cryptonym a day ago | parent [-]

Putting money in a company because you reviewed its business, the way it operates and add value to the society is more of an investment than gambling. Now things happens and I agree there is always a part of luck, called risk.

BTC isn't really adding value to the society, except the shady parts of it. I can't assess the part of luck in BTC gambling. Many lost money, many betted on the wrong coin. Did you bet on it because of the impact on dark economy or because you believed in unlocking the economy, blockchain everything which didn't happen?

	▲	SirMaster a day ago \| parent [-]
		I bet on it because in 2009 when I bought the coins for about $100 each I thought that maybe blockchain could do something unique that would cause the value to rise an appreciable amount. Or at the very least that it sounded like something that would get the tech sector excited and that alone would be enough to build enough hype around it that many more people would buy it causing the price to go up. In my mind it seemed cheap enough to try a $1000 gamble and just hold long, long term ignoring the fluctuations and either this will be worth 0 or it will maybe be worth a boatload in the far future. That was always my idea and goal from day 1. I mean I invest tens of thousands in the stock market and real-estate every year. This was just a tiny and wild gamble, but I don't think it was a dumb or foolish decision at the time given my financial position at the time and the amount involved.