Oddbean new post about | logout
 “I heard about a celebrity who lost $70 million in #bitcoin”

“Hmmm, so they lost control of their private keys? That’s the only way they “lost” fiat value in Bitcoin (see James Howells for wales). If they bought high and sold low, resulting is a loss of $70 million, they did not lose it in bitcoin, they lost it by buying high and selling low”

Thank you Satoshi. https://image.nostr.build/ebb6a3a77c5bf63f6ef54d110b94d38f55681f8c8b06e4556efeabf0ca7ad419.jpg