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Clippy comments on Making money with Bitcoin? - Less Wrong
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Comments (119)
Same Wei Dai.
I don't know much about bitcoin, but my priors on this kind of thing say that it's unlikely that bitcoin is profitable to be run on a large scale given the expense of electricity. But if you are beaming computational power from the safe zone, then this should work well.
Also, do you think you could win at poker? I can probably get you an account to use with a small amount of working currency in it.
I could easily win at internet poker, but only if I were to start with an unencumbered playing account of 45,000 USD.
I'm much better at in-person poker because I didn't program my robot to have automatic apey facial expressions predicated on win probability.
But no one's attempting to answer my other question, which was:
(Thanks to User:Kevin for confirmation of the Cypherpunk-LessWrong "Wei Dai" parity.
How about an answer where you instead sincerely evaluate your ability to play poker instead of setting up conditions where you automatically are able to fulfill the terms of our deal? The probability of me and someone else giving you $45k for free to play online poker is 0+, but the probability of me or someone else loaning you $50 is quite high.
I had never heard of this before, and I doubt most others had.
My answer is that I think bitcoins will fail, and I don't intend to sabotage you (yet). I think it's more likely you could go onto the stock or forex market and win gambling on a few put-stop option bets than you could go make a fortune with bitcoins.