You are viewing a single comment's thread from:
RE: The limits of knowledge - why we don't know enough about blockchain
Absolutely. Choosing someone to trust is a good shortcut to assessing opportunities.
At the moment my strategy is not to care about false negatives (being wrong about thinking a project was shit), but trying to avoid false positives (being wrong in thinking a project is a good one). There's so many successful projects out there that I don't have to know them all. I just need a handful to be able to diversify, and then successfully avoid putting money into wrong places.
It is basically a venture capital approach but on a smaller scale. Question is can you as an individual sustain several failures before the winners come up. Which can take several years to realize full potential value. So you suffer the losses inmediately and only enjoy the upside in several years... getting out too soon on the winners to cover losses of the losers can really cost you. So you'd have to fire and forget almost and come back in a few years to see what panned out...