Quote from: americanpegasus on February 25, 2016, 07:39:20 PM

Just had an amusing argument with a coworker who has heard my Monero exploits and saw me looking Polo earlier.

Quote

"So if I buy Monero, where will it be at in 6 months?"

"I don't know and anyone who says they do is probably lying."

"But you own it."

"Yes, a lot. Everything I have is in it."

"So what if I put 30 thousand dollars in it. Will I double it?"

"I don't think you should do that. Are you prepared to lose every cent of that 30 thousand dollars?"

"Well no, I don't want to lose that money."

"Then definitely don't put it in cryptocurrency. If you want some, only put in what you are prepared to totally lose."

"Ok, but what are the chances of it going to zero?"

"I don't know - I can only tell you that I have all my savings into it, and I am prepared to lose every dime of that. It will hurt, but I will still be eating. You should not buy this if you don't understand it."

"Ok, but someone surely understand it. What are they saying Monero goes to say.... by the end of the year?"

"Listen, I am the smartest person you have access to regarding this stuff, and I simply don't know - nor would it be ethical for me to guess when I already own it and you are considering putting money into this. I could ask the smartest person I have access to about this, and they still probably wouldn't know."

"Ok, so what if I put 30 thousand dollars into this."

"What if I told you there was a hot penny stock that could guarantee to double your money in 6 months; would you buy it?"

"Well, no."

"So why are you so gung ho to shovel so much money into this?"

"What was Monero at 2 months ago?"

"About 40 cents."

"What is it now?"

"80 cents."

"So I could have already doubled my money? Fuckkkk."

"Yes, but that is the past. Now you have to decide if it's worth 80 cents. I think you should read about it and consider putting in just a little money, no more than you are willing to completely lose."

Bottom line: it happened before with Bitcoin and it will happen again. There's going to be some hardcore FOMO going around and it's going to cause a lot of people to lose money buying Monero at the peak. Make sure you don't promise anyone anything with regards to it - and let them know you are prepared for it to go to zero, even if you hope it doesn't.

Monero doesn't need many people like you to become a success. A few people putting all their savings into XMR can alone give a significiant push to the marketcap of Monero as there is no way to buy quantities of coins without a price reaction. At some point when we are in the minimum block reward and the amount of money chasing after Moneros will increase make some parabolic moves to Monero.