Pure, un-distilled, FOMO

File: 390 KB, 1989x1464, FOMO1.png [View same] [iqdb] [saucenao] [google]

Anonymous Sat Oct 20 10:46:29 2018 No.11462660 [Reply] [Original]

Pure, un-distilled, FOMO

>>	Anonymous Sat Oct 20 10:52:29 2018 No.11462711 File: 16 KB, 480x360, Thinking of staking Link.jpg [View same] [iqdb] [saucenao] [google] >>11462660 >Doesn't matter for some of us soon. Pic related

>>	Anonymous Sat Oct 20 10:55:21 2018 No.11462730 >>11462660 Would you rather have an extremely small chance to win $1billion dollars or 5 Chainlink tokens?

>>	Anonymous Sat Oct 20 10:55:56 2018 No.11462737 Fucking insane.

>>	Anonymous Sat Oct 20 11:00:37 2018 No.11462793 File: 7 KB, 259x194, imagsdf234es.jpg [View same] [iqdb] [saucenao] [google] >>11462660 what if no one wins again?

>>	Anonymous Sat Oct 20 11:15:32 2018 No.11462921 >>11462793 FOMO++

Anonymous Sat Oct 20 11:21:08 2018 No.11462976

>>11462660
That's all the lottery ever is.
There's positive effort value to play at this pool, though, so people will keep playing.

Hopefully whoever wins doesn't go broke and lose half their family in a series of divorces and mysterious deaths like the last guy to win a record lotto back in 2002.

>>	Anonymous Sat Oct 20 11:24:58 2018 No.11463013 >>11462660 imagine if crypto fomo was sold on every corner?

>>	Anonymous Sat Oct 20 11:28:54 2018 No.11463052 >>11463013 If you won the lottery you could probably establish crypto lotto centers, the only issue is that the lottery is government owned and operated IIRC. That's why people don't start their own and rake in money.

>>	Anonymous Sat Oct 20 11:30:28 2018 No.11463063 >>11462730 give me the LINK

>>	Anonymous Sat Oct 20 11:33:35 2018 No.11463084 >>11462976 >lose half their family in a series of divorces and mysterious deaths like the last guy to win a record lotto back in 2002. Tell us more.

Anonymous Sat Oct 20 11:41:13 2018 No.11463156

>>11463084
Back in 2002 an older man won what was at the time the largest lottery jackpot in history, worth about $110,000,000 after taxes. He was already a multimillionaire before winning (worth about $17,000,000).

He gave away millions, some to charity, and started his own charity organization, but he also found himself being very careless with his spending. He kept $545,000 in a briefcase in his car "because he could", which was stolen, along with $200,000 on a separate occasion. He was drugged and robbed once, and he also started getting harassed by the police according to him.

He spoiled the crap out of his granddaughter, buying her cars and giving her an allowance of about $100k a year, which she spent developing a hard drug habit. She was found dead, wrapped up and discarded behind an old van. Her boyfriend had died as well from drug overdose 3 months prior. Years later, his daughter died as well under mysterious circumstances, his wife divorced him, and his $9 million mansion burned down without insurance.

He's on record saying he wished he would have destroyed the ticket when it found out it was the winning one.

https://en.wikipedia.org/wiki/Jack_Whittaker_(lottery_winner)#Legal_and_personal_problems

>>	Anonymous Sat Oct 20 11:44:23 2018 No.11463190 >>11462730 practically guaranteed to lose my money, or $5000 EOY? Easy decision anon.

>>	Anonymous Sat Oct 20 11:45:25 2018 No.11463202 >>11463156 >He was already a multimillionaire >He's on record saying he wished he would have destroyed the ticket when it found out it was the winning one.

>>	Anonymous Sat Oct 20 11:50:31 2018 No.11463248 >>11463202 He's worth less now than he was before winning, which is insane. There are also companies that specialize in giving what are essentially payday loans to lottery winners too impatient to wait on their annuity payments and such.

Anonymous Sat Oct 20 12:03:23 2018 No.11463339
File: 35 KB, 768x432, 3747aea99dda63f28813d651869e65e76ac7a34c.jpg [View same] [iqdb] [saucenao] [google]

>>11463248

It seems the problem is moreso that retards win the lottery, and not the lottery itself. There are people who win who handle the money responsibly.

>>	Anonymous Sat Oct 20 12:04:52 2018 No.11463352 >>11463339 Intelligent successful people are less likely to play in the first place. Granted,I'd love to win and prove the "lottery curse" people wrong, but we all know the chances of winning.

>>	Anonymous Sat Oct 20 12:18:10 2018 No.11463466 >>11463156 He sounds like he is retarded with money. How hard is it to hire a wealth management firm and live off the interest? Also, if you just give your kids/grandkids 100k a year, expect them to fuck up.

>>	Anonymous Sat Oct 20 12:20:09 2018 No.11463483 >>11463248 Its because jews take advantage of you. https://www.youtube.com/watch?v=OOzXjny6-5M Take it from Kanye, he starts dropping red pills about how they all come out for your money once you got it

>>	Anonymous Sat Oct 20 12:31:13 2018 No.11463570 >>11463483 Kanye is so fucking based

>>	Anonymous Sat Oct 20 12:45:23 2018 No.11463704 >>11463052 Unless its a "non-profit"

>>	Anonymous Sat Oct 20 12:48:04 2018 No.11463723 >>11463352 In work in aerospace, have a high iq. I only play at times like this. Obviously the odds of winning near impossible but someone will win, and the only way that can happen is if you buy a ticket.

>>	Anonymous Sat Oct 20 12:49:59 2018 No.11463734 >>11462660 Ok I'm now convinced this is an NPC ad campaign Surely there can't be this many 0 iq pajeets left on this board

>>	Anonymous Sat Oct 20 12:53:01 2018 No.11463766 >>11463734 fuck off you cringey faggit

>>	Anonymous Sat Oct 20 13:02:15 2018 No.11463831 >>11463723 >claims to have a high IQ >doesn't understand that expectation value of return means its even worse to play when the lottery amount goes up I bet you watch Rick and Morty.

>>	Anonymous Sat Oct 20 13:05:25 2018 No.11463866 buy tickets anons, this is the only way to make chain link $1000 eoy

>>	Anonymous Sat Oct 20 13:05:33 2018 No.11463869 >>11463723 I'm an rich hedge fund manager with 199 IQ and I also buy lontery tickots, i realy hope i become rich one day so i can buy more toys because someone has to buy those toys only way is if it is me

>>	Anonymous Sat Oct 20 13:08:29 2018 No.11463893 File: 262 KB, 867x881, 1538196378145.jpg [View same] [iqdb] [saucenao] [google] My math professor was saying that because of how much it is, that buying a lottery ticket is actually better investment than not getting a lotto ticket at all.

>>	Anonymous Sat Oct 20 13:10:43 2018 No.11463910 File: 41 KB, 386x387, 1538114514216.png [View same] [iqdb] [saucenao] [google] >>11462660 >pure >un-distilled Distillation is a method of purification.

>>	Anonymous Sat Oct 20 13:13:59 2018 No.11463944 File: 195 KB, 363x320, 1386647989184.png [View same] [iqdb] [saucenao] [google] >>11463910

Anonymous Sat Oct 20 13:16:35 2018 No.11463978
File: 246 KB, 544x632, 1520122457396.gif [View same] [iqdb] [saucenao] [google]

Reminder to not play the lottery unless you live in a state that allows anonymous collection or lets you use a lawyer to represent you and claim the winnings.

Letting the world know you won the lottery is the worst thing you can do to yourself.

>>	Anonymous Sat Oct 20 13:21:33 2018 No.11464027 >>11463978 You're stupid. I'm a fucking shut in recluse. I welcome creating a villain island base lair.

>>	Anonymous Sat Oct 20 13:23:04 2018 No.11464051 >>11463893 >buy lottery ticket >chance of becoming a billionaire >0 >don't buy lottery ticket >chance of becoming a billionaire = 0 he's right

>>	Anonymous Sat Oct 20 13:24:32 2018 No.11464071 >>11463978 This is p. true

Anonymous Sat Oct 20 13:25:01 2018 No.11464080

>>11463978
>Live in Texas
>Texas allows complete anonymity if you win without jumping through hoops. Literally just say “I want to remain anonymous” and you’re good to go.
>Texas has no income tax so I’d only give 25% up front to Uncle Sam

I’m set, now I just have to win

>>	Anonymous Sat Oct 20 13:25:31 2018 No.11464086 >>11464080 based and redpilled

>>	Anonymous Sat Oct 20 13:27:28 2018 No.11464103 File: 59 KB, 395x401, 1537130100507.jpg [View same] [iqdb] [saucenao] [google] >>11463483 >"...if its not part of the j- bigger agenda" i am literally 100% sure he was about to say "jewish agenda" and caught himself at the last second based kanye

>>	Anonymous Sat Oct 20 13:45:24 2018 No.11464273 >>11464103 indeed - he is woke af

>>	Anonymous Sat Oct 20 13:50:27 2018 No.11464326 >>11464080 just 25%? lottery wins are tax free here

>>	Anonymous Sat Oct 20 13:52:10 2018 No.11464337 >>11462660 I'm buying a ticket or two. Even with practically no chance to win, I still want that hope until Tuesday or whenever the drawing is. Feels so good. Hope the school chillun enjoy my money.

>>	Anonymous Sat Oct 20 13:53:28 2018 No.11464349 >>11464080 kek 25% is withheld. When you file your taxes for that year, you'll be paying much more

>>	Anonymous Sat Oct 20 13:58:48 2018 No.11464408 >>11464051 >buy chainlink >chance of becoming a billionaire >0 >don't buy chainlink >chance of becoming a billionaire = 0

>>	Anonymous Sat Oct 20 14:07:10 2018 No.11464496 File: 85 KB, 750x1334, 1539375879034.jpg [View same] [iqdb] [saucenao] [google] I just bought a ticket. Wish me luck you guys!

Anonymous Sat Oct 20 14:09:02 2018 No.11464525

1/88 quadrillion chance to win the jackpot. 1:880000000000000.

You are approx 1.25 billion times more likely to be struck and killed by an object from outer space than to win the jackpot.

If you spent 250billion dollars on lottery tickets, you would have the same chance of winning your 1.6 billion dollar jackpot as being splattered like a cockroach by a random rock from the edge of the solar system.

Your 2$ is more valuable as toilet paper.

>>	Anonymous Sat Oct 20 14:10:17 2018 No.11464535 File: 26 KB, 645x773, you.png [View same] [iqdb] [saucenao] [google] >>11464525

>>	Anonymous Sat Oct 20 14:10:35 2018 No.11464538 >>11464525 2.5 billion*

>>	Anonymous Sat Oct 20 14:12:05 2018 No.11464556 >>11464525 So what? It's two dollars. Someone has to win. If you don't have a ticket, that can't be you. If you buy and lose, you're two dollars poorer. Big whoop.

>>	Anonymous Sat Oct 20 14:16:48 2018 No.11464597 >>11464556 I’m saying if you want to win money you have better odds ratio just playing blackjack or poker. Why do you people think the government likes this? It’s a form of voluntary tax.

>>	Anonymous Sat Oct 20 14:18:46 2018 No.11464616 >>11464597 I don't think anyone expects to win. But someone has to and 2 bucks is cheap enough to give yourself the opportunity to.

>>	Anonymous Sat Oct 20 14:19:23 2018 No.11464627 >>11464616 The absolute state of NPCs ahahahahaha

>>	Anonymous Sat Oct 20 14:23:12 2018 No.11464662 >>11464496 What a depressing picture.

>>	Anonymous Sat Oct 20 14:24:45 2018 No.11464672 >>11464627 I'm sorry you can't afford $2. Remember to go through your neighbors garbage so you can eat tonight

>>	Anonymous Sat Oct 20 14:26:32 2018 No.11464689 File: 23 KB, 500x400, 1539195908544.jpg [View same] [iqdb] [saucenao] [google] >>11464496 Jeezus. Look at that whale... she'd be cute at 130lbs, but GOD DAMN

Anonymous Sat Oct 20 14:42:17 2018 No.11464799

>>11464672
I think you’re still missing it so let me paint a picture for you.

You walk into a casino with $100.
Go to the roulette wheel.
Put all your money on red.
In the US that means you have a 47.4% chance to double your money.

Do this 10 times in a row. .057% chance you won ~100,000$.

Risk was 100$ with payout 100,000 with .057% chance. Expected value 57$ for your 100, in other words .57 cents for every dollar.

Odds of winning 1/88000000000000000
*1.6 billion = .00000000181. But you needed to spend 2$ for one ticket , so it’s actually .000000000905 expected payout per dollar.

Are you so poor that you can’t afford 100$ ? Your expected payout is like
600 million times more.

Someone feel free to check my work.

>>	Anonymous Sat Oct 20 14:47:01 2018 No.11464831 >>11464799 Your math is not wrong, but $100 is a decent amount to lose. Two dollars is nothing. I could do a lot of shit for 100$. I'd barely be able to buy a candy bar at the gas station for two.

>>	Anonymous Sat Oct 20 14:47:10 2018 No.11464833 >>11464799 But I don’t want to go to a casino. I want to buy a lotto ticket. It’s easier, cheaper, and fun. It’s $2.

>>	Anonymous Sat Oct 20 14:53:13 2018 No.11464880 TFW even with the largest possible payout you will never rub shoulders with the mega wealthy and will never matter.

Anonymous Sat Oct 20 14:53:28 2018 No.11464883

>>11464833
Seems like it’s not about making a business decision , /biz/ is about letting the government cuck you while you delude yourself into thinking you can win at a game where the rules are clearly defined to fuck you.

There’s a bean I think you all are consuming too much of.

>>	Anonymous Sat Oct 20 15:00:46 2018 No.11464930 >>11464597 >It’s a form of voluntary tax. At least your $2 goes toward paying public schools for retards and not directly into the pocket of some crypto whale

Anonymous Sat Oct 20 15:04:14 2018 No.11464961
File: 529 KB, 1035x919, 8D960974-0CE4-4C47-B77D-E268CFB2031E.jpg [View same] [iqdb] [saucenao] [google]

>>11464930
/biz/ believes that the stated use of tax money is where the money goes and/or is put to good/more efficient use than a private entity would.

BasedBoys.

>>	Anonymous Sat Oct 20 15:07:30 2018 No.11464982 >>11464880 >you will never rub shoulders with the mega wealthy Why would you even want to compete?

>>	Anonymous Sat Oct 20 15:20:11 2018 No.11465072 >>11464982 Because of the big squeeze.

>>	Anonymous Sat Oct 20 15:38:38 2018 No.11465228 >>11464525 Wrong, it's one in 302,575,350. Given how many people will be playing however, the chance of a split jackpot will still be high. Since at least one other person is likely to win, ticket expected value is still less than $2.

Anonymous Sat Oct 20 15:45:17 2018 No.11465269
File: 28 KB, 466x490, 1536718378406.png [View same] [iqdb] [saucenao] [google]

>muh positive expected value

yeah, if you buy a billion tickets you fucking mongoloid. a single ticket is just as much of a waste of money at 1 billion as it is at 10 million. the lower the odds of winning is, the higher the sample size you need to fully "realize your equity", as pokerfags would say

>>	Anonymous Sat Oct 20 15:48:10 2018 No.11465295 >>11464525 We get it you’re poor. You can’t afford to throw away $2

>>	Anonymous Sat Oct 20 15:50:47 2018 No.11465307 >>11464408 He's right

>>	Anonymous Sat Oct 20 15:51:09 2018 No.11465311 >>11462793 it will go to 2.5 billion. that's what they want, 1 billion net. then they change it to mega billions in time for hyperinflation

>>	Anonymous Sat Oct 20 15:52:53 2018 No.11465325 >>11463156 JUST

>>	Anonymous Sat Oct 20 15:53:02 2018 No.11465326 >>11465295 I’m the opposite of poor. This is a basic test of your business sense, /biz/. Sorry anon you’re not gonna make it.

>>	Anonymous Sat Oct 20 15:57:54 2018 No.11465357 >>11463723 >>11463483 IMO throw the 2 bucks away who cares. But dont go out thinking that buying 100 of em will up your chances any either

Anonymous Sat Oct 20 15:58:28 2018 No.11465361

also a thing people dont consider is humans think logarithmically, not linearly. nobody is worried about saving an extra dollar on a car purchase, but they will literally run out of gas in their attempt to save 5 cents per gallon at a cheaper station.

the difference between 2 bucks and 10 bucks for a chance to make it is trivial to our brains, even though theres a 5 times net difference in what you risk. in your mind, both are 0 dollars because 1 billion dollars dwarfs both almost equally.

in crypto you can see this hold true to the extreme degree. people are willing to treat thousands of dollars as effectively throwaway at the chance to not be a wagie for eternity. the end result of "trying" to make it and never trying is the same hopeless future of debt subservience.

>>	Anonymous Sat Oct 20 16:02:44 2018 No.11465381 >>11462660 I'm gonna win and I'll give everyone in this thread 5000 dollars

>>	Anonymous Sat Oct 20 16:08:58 2018 No.11465411 All you guyz gotta be fun at parties. Ppl buy tickets to be a part of smt big, feel the fun of this craze, to feed their fantasy scenarios where they are super rich.

>>	Anonymous Sat Oct 20 16:11:05 2018 No.11465422 File: 946 KB, 908x908, 1483382864472.png [View same] [iqdb] [saucenao] [google] >>11464496 What is that thing by the door?

>>	Anonymous Sat Oct 20 16:49:55 2018 No.11465745 File: 541 KB, 1125x2436, 584983B7-A7A3-4745-AC4D-AE311A889AD4.png [View same] [iqdb] [saucenao] [google] >>11465228 I stand corrected. I referenced this figure from cbs.

>>	Anonymous Sat Oct 20 16:54:33 2018 No.11465790 >>11465311 >>11465411 checked

>>	Anonymous Sat Oct 20 17:01:11 2018 No.11465838 >>11465745 That's the odds of winning the powerball and mega millions simultaneously. And it's obviously an old article, since the mega millions alone is now at $1.6 billion (less for the lump sum, minus state and federal taxes)

>>	Anonymous Sat Oct 20 17:09:00 2018 No.11465889 >>11465838 Yea I think my overall point still holds its validity though, this just changes the magnitude.

>>	Anonymous Sat Oct 20 17:12:23 2018 No.11465926 >>11465889 By nine orders of magnitude. A lottery ticket is a net loss yes, but the expected value is about half what you paid for it, not your negligible quantity.

>>	Anonymous Sat Oct 20 18:09:08 2018 No.11466338 File: 82 KB, 384x348, 1536880533664.png [View same] [iqdb] [saucenao] [google] Spent more money on this scam than ZRX, what the fuck is wrong with me?

>>	Anonymous Sat Oct 20 18:31:11 2018 No.11466484 >>11462660 >pure >un-distilled

>>	Anonymous Sat Oct 20 18:57:28 2018 No.11466678 >>11463483 I like Kanye now.

>>	Anonymous Sat Oct 20 18:59:07 2018 No.11466688 >>11464103 LOL holy shit, didn't catch that

>>	Anonymous Sat Oct 20 18:59:29 2018 No.11466692 >>11463063 >>11463190 You guys are gonna make it.

>>	Anonymous Sat Oct 20 19:03:39 2018 No.11466717 >>11462660 this lotto fomo is proof the main bullrun hasnt started yet

Anonymous Sat Oct 20 19:08:20 2018 No.11466754

>>11465926
What's the point of calculating expected values when the payout distribution is so skewed? Even if you spent $1 million on tickets your odds of hitting the jackpot are 0.16%.

If you cut off the extreme outcomes that will virtually never happen, the expected payout is more like 22 cents for a $2 ticket. Of course people play for the extreme outcomes, but it's pretty misleading to have them skew your expected payout unless you're planning to buy 10 million+ tickets.

Anonymous Sat Oct 20 19:12:32 2018 No.11466778

>>11466754
It's an upper bound. The risk-adjusted expected value (not just ignoring unlikely outcomes, buy weighting against them according to some risk tolerance metric) is always going to be lower than the simple expected value, so if we show the latter is below cost then there's no point in trying to get more complicated about it.

>>	Anonymous Sat Oct 20 19:13:32 2018 No.11466787 >>11465326 We get it, you're poor

>>	Anonymous Sat Oct 20 19:26:40 2018 No.11466894 >>11466778 This is a good explanation.

>>	Anonymous Sat Oct 20 19:28:10 2018 No.11466909 >>11466787 Wow dude good argument! I’m convinced, just bought 100k

>>	Anonymous Sat Oct 20 20:06:26 2018 No.11467187 >>11463831 You're retarded, the odds of winning stay the same regardless of how many people play

Anonymous Sat Oct 20 22:17:40 2018 No.11468165

>>11464831
>Two dollars is nothing.

If you are 30 years old, you can throw $2 into your S&P500 index fund and it will have the purchasing power of about $40 in today's money by the time you retire.

By buying a lottery ticket today, you steal a nice $40 dinner from your future retired self.

Is it still worth it?

>>	Anonymous Sat Oct 20 22:21:19 2018 No.11468201 Has anyone actually calculated the EV for a ticket after taxes? I've heard some states don't tax winnings so statistically you have a positive return

>>	Anonymous Sat Oct 20 22:22:26 2018 No.11468210 >>11468165 >implying anyone on /biz/ is going to wagecuck till 70 instead of an heroing at 35 if they don't make it in crypto

Anonymous Sat Oct 20 23:55:09 2018 No.11468973
File: 293 KB, 558x561, smug bitch from chinese cartoon.png [View same] [iqdb] [saucenao] [google]

>muh decentralized magical internet money.
>oh no, I got chinked.
>accumulate.
>oh no, it was a pump and dump.
>buy into the fork.
>oh no, it a pajeet scam.
>HODL.
>oh no, the crypto memes crashed from 20k to 5k. Fuck, I gotta get a McJob.
>but look at this newest get rich quick scheme! Get some junk to make antenna for muh SKYCOIN!
>oh no, it was a scam by faggots who confused comp sci starter nonsense for star trek science.
>let's buy used electronics and sell for a profit!
>oh no, the trash I got dumped on me was actually trash. What am I gonna do?
>I know, let's buy lottery tickets.

Biz. Never change.-

>>	Anonymous Sun Oct 21 00:03:46 2018 No.11469039 >>11468973 >I know, let's buy lottery tickets. kek. we all knew it would come to this.

>>	Anonymous Sun Oct 21 00:07:06 2018 No.11469062 >>11464799 Expected payout would be $5.70/100.

>>	Anonymous Sun Oct 21 00:24:30 2018 No.11469176 >>11464880 uh, anon, i don't think you'd want to rub shoulders with those types...unless you want to join their luciferian cult

>>	Anonymous Sun Oct 21 00:44:40 2018 No.11469311 File: 11 KB, 273x205, 1512683586357.jpg [View same] [iqdb] [saucenao] [google] >>11463723 cant win if you dont play

Anonymous Sun Oct 21 01:01:52 2018 No.11469399

>>11463156
Some people weren't meant to make it. This man was one of them.

How do you fuck up so bad. Here I am living on $1000 dollars a month I couldn't imagine ever needing millions. I have nothing I desire in life besides a girlfriend that let's me sex whenever I want.

>>	Anonymous Sun Oct 21 04:02:24 2018 No.11470371 >>11469399 It feels like it. I know everybody claims they'll be the exception, but I seriously wouldn't mind winning and seeing for myself.

>>	Anonymous Sun Oct 21 04:09:13 2018 No.11470410 >>11464556 >Someone has to win Yeah, no.

>>	Anonymous Sun Oct 21 04:13:07 2018 No.11470429 File: 11 KB, 225x225, download (2).png [View same] [iqdb] [saucenao] [google] >>11464103

>>	Anonymous Sun Oct 21 04:13:13 2018 No.11470430 >>11464880 They'd ripp you off because you're just some mong who won the money.

>>	Anonymous Sun Oct 21 04:32:33 2018 No.11470508 tfw live in europe

>>	Anonymous Sun Oct 21 05:10:31 2018 No.11470650 >>11470430 This. If I win I'm staying in the same general social stratum as a guy who just financed his first Arby's franchise. Trying to suck up to DuPonts will get you wrekt

>>	Anonymous Sun Oct 21 05:25:20 2018 No.11470710 >>11470650 >not banging super rich guys daughters to spread your inferior genes

>>	Anonymous Sun Oct 21 05:27:26 2018 No.11470726 >>11470710 >Flirting maybe once and getting killed I mean, it's a based plan, but I don't have that level of chad finesse.

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/biz/ - Business & Finance