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James_Miller comments on December Monthly Bragging Thread - Less Wrong Discussion

13 Post author: Kaj_Sotala 03 December 2013 02:46PM

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Comment author: maia 04 December 2013 07:09:06PM 4 points [-]

So if you answer no to that question, then you are biased. But it's not actually obvious which direction. What if non-Bitcoin-owning you is wrong, and you really should be buying it?

Also, if you have a lot of it, the extra Bitcoin might change your marginal value of money (because if you count the value of the BTC, you have more dollars than you otherwise would).

Comment author: James_Miller 04 December 2013 07:34:57PM 2 points [-]

Correct, and I was implicitly ignoring income effects. Still, putting a lot of your assets in Bitcoins or any other exotic investment vehicle is ex-ante a HORRIBLE idea unless you have some special informational advantage.