I dont understand this dude. He could have just made this video without the stupid bet. Are we supposed to believe it was just intended to get our attention? The only attention it got was of people who already follow him. This all seems so dumb. What am I missing?
No he didn't. It was a publicity stunt with shades of market manipulation. He holds a large position in BTC and made a public bet to pump the value of that BTC.
If he believed that BTC would go to $1m or whatever, he could have made tremendously more money by buying $1m worth of BTC. If he wanted to sell at that point to donate to charity or run ads for his podcast, he could.
I don't know what makes Balaji so compelling that people keep falling for this charlatan.
Pump up and hype it by spinning it when your claim doesn't come true. I was wondering what the spin would be, but here it is.
If you're trying to run a game against true believers instead of just make an argument against non-believers, this is a MUCH more effective strategy. ("If trading, too early is being wrong. But if preparing, hell is truth seen too late. So I don't care that much about timing. Being early on something like this is being right." - this isn't an attempt to convince the people who believe he's "wrong", not "early", it's preaching to the choir.)
Why is anyone paying attention to this guy? I have yet to see evidence he's done anything meaningful any time recently other than promote himself and crypto grifts. Is it just because his name is attached to a16z and Coinbase (which will inevitably be shut down for enabling trading in unregistered securities)?
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[ 1.5 ms ] story [ 32.7 ms ] threadThat's literally all he and his peers do: desperately seek out attention. So yes, that's entirely believable.
If he believed that BTC would go to $1m or whatever, he could have made tremendously more money by buying $1m worth of BTC. If he wanted to sell at that point to donate to charity or run ads for his podcast, he could.
I don't know what makes Balaji so compelling that people keep falling for this charlatan.
Pump up and hype it by spinning it when your claim doesn't come true. I was wondering what the spin would be, but here it is.
If you're trying to run a game against true believers instead of just make an argument against non-believers, this is a MUCH more effective strategy. ("If trading, too early is being wrong. But if preparing, hell is truth seen too late. So I don't care that much about timing. Being early on something like this is being right." - this isn't an attempt to convince the people who believe he's "wrong", not "early", it's preaching to the choir.)
Only thing I see is there was no conviction, and today the price isn't $1m.