Oddbean new post about login | logout Confusing risk with volatility is why normies will stay poor forever
there's risk to not taking on some risk
The outcome of taking no risk is certain. The money you earn today will buy less tommorow. The 0.01% interest on your savings account will not fix this. When I tell people about bitcoin, they have so many questions. What is cryptography? How do you pay for stuff? What about taxes? What if the government turns off the bitcoin computer? I am an expert in quantum computing because I read an article. Who will save the oceans? How much do you have? The first question they should ask is, why do I work so hard for money that makes me less wealthy over time?
volatility > devaluation
💯 “Volatility refers to the frequency and magnitude of price changes in an investment or market sector. Risk is the possibility that an investment will fail or lose value.” “While market risk is hard to measure, volatility is easily (and often) measured.” #studybitcoin (and legacy fiat) to gain understanding of the risk.
Replace "poor" with "slaves." Some wear golden handcuffs
Fr fr.