next bet
Fresh from winning my online bet that Trump would win -- sometimes I do really hate being right -- which paid out on Monday --
Now I'm betting against Bitcoin. I've taken all my Kalshi winnings and have bet that Bitcoin will not reach $160K by the end of this year.
I spent the $83 I won on Trump on this bet and will win back $138 if I'm right. One bet at a time I shall become a billionaire bwahahaha.
I also went back to Coinbase and sold the tiny bit of Bitcoin they'd "given" me for opening my account. At a small profit! most of which was eaten up by the transaction charge. Everything requires a transaction charge in the world of crypto. It is these transaction charges that pay for all the zillions of servers around the world upon which crypto lives. If the servers went dark, the >$3 trillion in crypto assets would go poof. Basically there's as much money invested in crypto as there is in Apple or Microsoft. But crypto doesn't produce a damn thing, it only chews up electricity and transaction charges. For its entire existence crypto can only lose money, it's a money sink. It is literally the stupidest investment in human history. Even more stupid than negative interest loans, because with those you were at least supposed to get your principal back. There's nothing to "get back" with crypto.
But, crypto follows the principle of the greater fool, that if you buy it, somebody who is even more stupid than you will buy it from you at a higher price.
I should've been stupid enough to buy crypto 10 years ago, and then stupid enough to hold on until now, and then somehow still smart enough to sell it now. I'd be walking away with a 400x profit. What sort of IQ would be required to thread that needle?
ChatGPT: Threading this needle might not require a specific IQ but rather a mix of luck, emotional resilience, risk tolerance, and perhaps some ignorance at the start. If we were to assign an "ideal IQ range," it might be mid to high average (100-130), where someone is curious and informed but not paralyzed by overthinking or excessive caution. Ultimately, this kind of success reflects the chaos of speculative markets more than any calculated brilliance!
Damn it, my IQ was too high!!
And what would be the IQ of somebody who buys crypto now, after the 400x has already been made?
If they are acting on FOMO, hype, or misplaced gambling instincts: 80-100.
However, it’s worth noting that intelligence isn’t the only factor-emotional regulation, financial literacy, and timing often play a more significant role in investment decisions than raw IQ. Even very smart people can make irrational financial choices when emotions or biases take over.
Now I'm betting against Bitcoin. I've taken all my Kalshi winnings and have bet that Bitcoin will not reach $160K by the end of this year.
I spent the $83 I won on Trump on this bet and will win back $138 if I'm right. One bet at a time I shall become a billionaire bwahahaha.
I also went back to Coinbase and sold the tiny bit of Bitcoin they'd "given" me for opening my account. At a small profit! most of which was eaten up by the transaction charge. Everything requires a transaction charge in the world of crypto. It is these transaction charges that pay for all the zillions of servers around the world upon which crypto lives. If the servers went dark, the >$3 trillion in crypto assets would go poof. Basically there's as much money invested in crypto as there is in Apple or Microsoft. But crypto doesn't produce a damn thing, it only chews up electricity and transaction charges. For its entire existence crypto can only lose money, it's a money sink. It is literally the stupidest investment in human history. Even more stupid than negative interest loans, because with those you were at least supposed to get your principal back. There's nothing to "get back" with crypto.
But, crypto follows the principle of the greater fool, that if you buy it, somebody who is even more stupid than you will buy it from you at a higher price.
I should've been stupid enough to buy crypto 10 years ago, and then stupid enough to hold on until now, and then somehow still smart enough to sell it now. I'd be walking away with a 400x profit. What sort of IQ would be required to thread that needle?
ChatGPT: Threading this needle might not require a specific IQ but rather a mix of luck, emotional resilience, risk tolerance, and perhaps some ignorance at the start. If we were to assign an "ideal IQ range," it might be mid to high average (100-130), where someone is curious and informed but not paralyzed by overthinking or excessive caution. Ultimately, this kind of success reflects the chaos of speculative markets more than any calculated brilliance!
Damn it, my IQ was too high!!
And what would be the IQ of somebody who buys crypto now, after the 400x has already been made?
If they are acting on FOMO, hype, or misplaced gambling instincts: 80-100.
However, it’s worth noting that intelligence isn’t the only factor-emotional regulation, financial literacy, and timing often play a more significant role in investment decisions than raw IQ. Even very smart people can make irrational financial choices when emotions or biases take over.