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Kaj_Sotala comments on New Improved Lottery - Less Wrong

41 Post author: Eliezer_Yudkowsky 13 April 2007 11:42PM

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Comment author: Kaj_Sotala 03 May 2013 01:40:28PM 2 points [-]

The New Improved Lottery pays out every five years on average, at a random time—determined, say, by the decay of a not-very-radioactive element. You buy in once, for a single dollar, and get not just a few days of epsilon chance of becoming rich, but a few years of epsilon. Not only that, your wealth could strike at any time! At any minute, the phone could ring to inform you that you, yes, you are a millionaire!

Given the huge fluctuations in value, it strikes me that buying up on Bitcoin is pretty much exactly this, and also part of the reason why I enjoy owning them.