It's funny because I agree that cashing out your original stake it is dumb in this market (unless its really meaningful money to you I guess), but your poker analogy is just so terrible it's hard to back you up. In poker you constantly have to restrict yourself from potential "good investments" if they don't meet bankroll restrictions. Let me guess, you're one of those "pros" who constantly took shots and went busto a lot between big scores?

If you're defaulting to cashing out your initial investment as your investment sizing strategy you're just doing it wrong.

what about investing in coin abc, ran up some decent profits lets say 100% to make it easy.
Cash out half so initial investment en dump that in coin xyz.... etc

People cashing out the initial investment often consider unrealized gains as "house's money" - a gambler's fallacy. I see this a lot among the newbies pouring money into cryptos, this is the loser's mindset. If the tax implications are neglected, the size of the initial investment should obviously have nothing to do with the future decisions.

i agree with that but as you said it's the gamblers fallacy.
i would understand someone thinking coin x or stock x is still a good investment but sell some anyway bc it becomes too big a % of their net worth.

you're missing his point. he's clearly not saying hold forever regardless of how big your position gets.

in the absence of taxes your position size should more or less be a fixed % of your portfolio (with appropriate adjustments as return expectations change). in reality tax implications can dominate allocation decisions. but if you're cashing out your original investment to "freeroll the profits" you're just thinking about things wrong.

no i agree with him.
and as you said taxes can have a huge impact.
you can make almost 50 k single (and i think 75k married) with no other income from long term capital gain and pay 0 (i did this one year when i didnt play poker at all and just traveled a lot to reset my cost basis by selling and rebuying the same stock what a great deal)

Or you can sell short term, in a high income bracket in a high income tax state and get reemed in taxes.

But for some people i guess suboptimal advice is better than what they would do otherwise. it's like david ramsey's debt advice is hot garbage if you aren't a finacial moron but if you are a financial moron it's helpful. so if someone is going to be sick worrying about fluctuations if they don't sell to get their initial money back then they probably should get that money back and have a better quality of life.

Most people treat "found" money differently than earned money which personally i think is stupid but that's not gonna change.

I recently discovered the value of Ethereum when I purchased some Sirin tokens during the crowdsale. The SRN tokens are now in my ether wallet.

So this is what they mean by smart contracts!

No. Quite the opposite actually. I was always over rolled for any game.

My point was though that these guys didn't put money they couldn't afford to lose in, then are in a big hurry to get it out as soon as it doubles. So clearly leaving it in wasn't breaking bankroll rules.

does ethereum have a sustainable revenue model?

how will they pay developers the big bucks to innovate and keep this platform / framework competitive?

decentralized apps. ask the crypto kitties team how they get paid.

https://mobile.nytimes.com/2017/12/2...n-snuggle.html

... "cattributes"...

the Dapps all can make their own revenue model...thats fine but what about the foundation? does it get paid by the Dapps? does it get something from the transactions?

i dont think so in either case. I just think they are goign to be short funds for development of platform features...compared to some orther dapp environements

the eth founders have a few billion in tokens for themselves, they are fine

https://decentraland.org

Just in case cattributes wasn't confounding enough. This looks like the prequel to Ready Player One

what a good book

might buy some just because of that

Many are calling Ethereum internet 3.0

So I guess ether got tired of being #3 and is on a bit of a run up real close to ATH.

Casper testnet is here so yeah, now it's only a matter of days before we get to 1.2k or so. GL us.

What was internet 2.0?

3 3.0 rules


1/wasm
2/ distributed storage system & recall (maybe cross blockchains Eg filecoin eth) w/o receiver req payment
3/ new web browsers that enforce new biz models (#2 )

Dial up was 1.0. Broadband/mobile 2.0.

let's take a moment to remember this all time great call

[Many people with a huge vested interest in the short term value of Ethereum] are calling Ethereum internet 3.0