The Bayesian Conspiracy Bayes Blast 38 – Shitcoins
Jan 21, 2025
Dive into the wild world of shitcoins and their connection to a political figure. Discover the thrilling and risky nature of investing in these volatile assets through personal stories. Reflect on the GameStop short squeeze and the insights from the film 'Dumb Money'. The conversation highlights the dangers of speculative investments and promotes a cautious approach to the crypto market.
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Episode notes
Dogecoin vs. Trump Coin
- Steven bought $50 of Dogecoin a few years ago and it rose to 70 cents.
- He sold some, broke even, and now has a decent profit; however, Trump coin buyers lost 50%.
Shitcoins as Gambling
- Treat shitcoins like a gambling game, not an investment.
- The goal is to buy low, sell high before the inevitable crash.
Gambling Philosophy
- Never gamble money you can't afford to lose.
- Treat shitcoin investments like buying a movie ticket – expect no return.
