Quote from: nullama on September 14, 2023, 01:31:25 AM

Quote from: TobeyHolo on September 13, 2023, 08:26:04 AM

~snip~
This is correct 95-98% of the time. However there are truly long term winners in sports, baccarat and poker that have withstood the test of time. Google Phil Ivey and Stu Ungar as examples.

If you have sports where people will compete against themselves over time, instead of against the casino, then you will see eventually a pattern where only a few will win more times.

This is basically the Pareto distribution, where a small number of individuals get the most amount of the "pie".

It's just luck, in the same way that Paul the Octopus was able to predict 12 out of 14 correct matches, that's being right 85.7% of the time.

From what you have described - the Pareto distrubution term also refers to most people in crypto also. Just adding on to your point, most of the money goes to 10% of the people in crypto, the rest lose. This is the same in trading.