Angel Investing is sometimes gambling

1 minute read

I had a hard investing lesson back in 2017. Though it was a zero-risk bet, I YOLO hodled around 15 - 18 different types of altcoins. It was literally zero risk! How? Bounties! I got substantial amount of coins because of being an OG.

Anyway, I knew the risk. I heard of it before; “99% of coins will fail,” way back in 2015. Some of you may never heard of Auroracoin, Tak, Urocoin, Zetacoin, Libertycoin, Viacoin, Archcoin, etc (so many, this is a long list). HOWEVER, some gems do survive and thrive. The ones you regret selling too soon - Ethereum, Decred, Syscoin, Stellar, etc. I WAS BETTING SOME OF MY ALTCOIN HOLDS WERE GEMS. YOLO. Why not? Zero risk, right?

And it is hard to figure out which will thrive. I had low opinion on Syscoin and Decred. But they still exists today!

Anyway, I believed at that time, my altcoin holds show some promise in the future, based on dev team, resources and vision - an educated guess if you will. But alas, many of them are just flashy and believable. And so the old adage rings true again, out of a 1,000 coins, probably only 10 survives.

The tweet below hurts but it is a reminder that angel investing is sometimes gambling.

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