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Update opportunity-for-gain.md 

#193 [s]: fixed typo
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@ -53,7 +53,7 @@ Since crypto assets are [investments](../concepts/security.md) the purpose of bu
This is comparable to the analogy of a game of poker and other [gambling](../concepts/gambling.md) games The only money that can be won in a poker game "pot" provided by the players of the card game. The act of playing poker does not generate any money, it simply redistributes to participants according to a game of chance. If the "house" or casino takes a percentage of the pot on every round of the game played then the size of the pot must decrease over time. This turns the zero-sum game into a negative-sum game which admits a negative [expected return](../concepts/expected-return.md). This is comparable to the analogy of a game of poker and other [gambling](../concepts/gambling.md) games The only money that can be won in a poker game "pot" provided by the players of the card game. The act of playing poker does not generate any money, it simply redistributes to participants according to a game of chance. If the "house" or casino takes a percentage of the pot on every round of the game played then the size of the pot must decrease over time. This turns the zero-sum game into a negative-sum game which admits a negative [expected return](../concepts/expected-return.md).
Investing in crypto assets is statistically guaranteed to lose money for almost all market participants because as investments they have no [income-cashflows](../concepts/income-cashflows.md). This differs drastically from [productive assets](../concepts/productive-asset.md) such as [stocks](../concepts/stock.md) ,[bonds](../concepts/bond.md) and [real-estate](../concepts/real-estate.md). Investing in crypto assets is statistically guaranteed to lose money for almost all market participants because as investments they have no [income-cashflows](../concepts/income-cashflows.md). This differs drastically from [productive assets](../concepts/productive-asset.md) such as [stocks](../concepts/stock.md), [bonds](../concepts/bond.md) and [real-estate](../concepts/real-estate.md).
While there is evidence of some people making gains trading crypto, there is a strong sample bias in self-reported winnings of crypto assets: participants who make outsized returns gambling on the bubble are more likely to report these returns compared to the vast majority of those who lose money investing in crypto assets. While there is evidence of some people making gains trading crypto, there is a strong sample bias in self-reported winnings of crypto assets: participants who make outsized returns gambling on the bubble are more likely to report these returns compared to the vast majority of those who lose money investing in crypto assets.
@ -108,4 +108,4 @@ HQ, I. (2019) The case for a small allocation to Bitcoin, Kana and Katana. Avail
Huang, M. (2020) Bitcoin for the Open-Minded Skeptic, Matt Huang. Available at: https://www.matthuang.com/posts/bitcoin_for_the_open_minded_skeptic (Accessed: 14 September 2022). Huang, M. (2020) Bitcoin for the Open-Minded Skeptic, Matt Huang. Available at: https://www.matthuang.com/posts/bitcoin_for_the_open_minded_skeptic (Accessed: 14 September 2022).
Lefevre, E. (2004) Reminiscences of a stock operator. John Wiley & Sons. Lefevre, E. (2004) Reminiscences of a stock operator. John Wiley & Sons.
Malkiel, B.G. (1999) A random walk down Wall Street: including a life-cycle guide to personal investing. WW Norton & Company. Malkiel, B.G. (1999) A random walk down Wall Street: including a life-cycle guide to personal investing. WW Norton & Company.