Oddbean new post about | logout
 Risk taking is about luck, 20%. The rest is about persistence, making choices, ..

I was lucky to know about it, but then not selling it when I made 5x (which I did a bunch of times), saving half of my income to buy Bitcoin, go Bitcoin only. There was no luck in it, it was systematic and anti hedonistic. There was nothing sexy about going to a Bitcoin ATM while everyone was vacationing in Thailand. 

I don't like the "at the price they deserve", because I think the price is a much better deal now. Even though it's more expensive to buy, there's also a ton less risk. 10 years ago it was still possible it will lead nowhere and we'll just have to lick our wounds and move on. Now it's sixth largest reserve asset in the world and you are buying something that works and will not go away. Risk adjusted, a much better deal.