, 10 tweets, 2 min read Read on Twitter
1. Just a reminder to those #Bitcoin believers who see "cheap coins": investing in cryptocurrencies is as stupid as investing in lottery tickets. >>
2. As in any typical lottery, more than half of the money that you invest in in cryptocurrencies goes straight into the pockets of those who run the system: chiefly miners and exchange operators. >>
3. As in any typical lottery, the remainder of your investment is distributed randomly and unevenly among the investors. >>
4. As in any typical lottery, there is no other source of money that can come back to the investors, except what they have invested and has not been pocketed by the organizers. >>
5. Threfore, as a whole, cryptocurrency investors are *mathematically guaranteed* to lose much of the money that they have invested or will invest. >>
6. As in any lottery, while some lucky crypto investors may end with a profit, that profit will come at the expense of the vast majority of the unlucky ones, who will lose more than their fair share of the general loss. >>
7. Right now, those who are buying bitcoins are donating ~15 million USD each day to the miners; and that money will never come back to them. >>
8. Bitcoin investors alone have already lost 5-10 BILLION USD to the miners. Those suckers who day-trade cryptocurrencies may have lost even more to exchange operators. >>
9. Crypto investors have already permanently lost all those billions, and can only lose more -- no matter what happens to the price in the future. >>
10/10. In fact, the longer the crypto market survives, the more crypto investors will lose. The higher the price goes, the faster they will lose.
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