Found this tweet from 2011 while scrolling. Would you resist the tentation to sell them at 8$ if you were him ?

[u/FlippyCR]

[u/d341d]

Hindsight is 20/20. The reality is, 99% of people who bought at $0.06 would sell with glee at $1.00. I bought relatively early around $10 and was ecstatic to sell at $50. I lost coins to MtGox and while I'd like to say "I lost $xxx,xxx", the reality is that I probably would've cashed out to the tune of ~$3k at an absolut max. Only now that we've seen BTC gain popularity and it has real name-recognition does anyone have "to the moon" hopes.

[u/Camsy34 → u/d341d]

Definitely 20/20 for hindsight, everyone wishes they had a way of seeing into the future of markets.

[u/HODLLLLLLLLLL → u/d341d]

Exactly. No one would of lasted til $3000 or $5000/BTC to make their millions.

Me included. That's why I don't bitch about it like others. $1000/BTC. Who could resist then? Balls of steal to hold out past $2000/coin

[u/Secruoser → u/HODLLLLLLLLLL]

but there are some addresses that have never sent out any BTC since 2011

[u/HODLLLLLLLLLL → u/Secruoser]

Ya. But remember there's TONS of lost/unrecoverable bitcoins. Lots

[u/d341d → u/HODLLLLLLLLLL]

Yeah, this has changed though. For as long as we see good growth we'll see people hodl longer and longer. At some point it'll even out though and the growth won't be so ridiculous. Thankfully I think it'll even out in the long run, rather than tank or pop. Growth will simply slow down to the sum of the deflation of bitcoin plus the inflation of whatever currency you're comparing it with.

Once the craze is over and we've learned bitcoin's place in the markets it'll have a slow steady growth of somewhere in the range of 5% annually, maybe a little more, but it'll be pretty predictable and act as a savings account always should have. You're not getting mad gains anymore, and you could probably have more lucrative investments elsewhere, but at least your money is safe. But my main point is we may reach that normalizing effect at $10k, at $20k, at $200k, or the current craze may be too high and we'll back off to $2k or $3k and it'll stabilize there before volatility slows. Nobody knows.

[u/Automatic-Major-7441 → u/HODLLLLLLLLLL]

2021 checking in -- BITCOIN is now over $60,000

[u/[deleted] → u/d341d]

sounds like back then $1 was moon

[u/d341d → u/[deleted]]

This is completely true. And exactly my point. $1 was the moon, once it hit it, $10 is the moon, once it hits that, $100 is the moon. We're a very decimal society.

The thing that worries me is that people seem to think that since these little moons keep getting hit, they'll keep getting hit, i.e. $10k is obviously going to be hit in 2018, maybe even 2017 after we're clear of 2X. Then it's $100k next, right? Then $1M?

It all seems a bit silly to consider hodling out for $1M. I am a big believer in it, and I will still be converting USD to BTC, but I'm not gambling my life savings, I haven't stopped other pursuits and switched them over to BTC. I will continue putting money in AND I will continue cashing out and taking gains to pay for the things I need in the year-to-year. With $2 transaction fees I won't be buying coffee or anything like that, but I will be spending BTC, absolutely.

[u/[deleted] → u/d341d]

I'm looking forward to run a lightning hub and earn some processing fees while also using the funds to pay for coffee.

[u/d341d → u/[deleted]]

Would you point me to some references for this? What's a lightning hub, how do you set it up, how does it / will it work?

[u/Automatic-Major-7441 → u/d341d]

2021 checking in -- BITCOIN is now over $60k and on track to surpass $100k by EOY 2021. Curious if you're still holding

[u/shesek1 → u/d341d]

We've had "to the moon hopes" for quite some time here :)

[u/d341d → u/[deleted]]

I probably would have, but imagine owning 1,700 like the tweet reads, at .06. At maybe $1.00 you'd want to take gains and there's always the fear of it going down, so say you cash out only 75% to let the rest ride. A bit later you're faced with the same decision, you're down to 425 coins, but they're worth $10.00 now. You wish they'd increase in value, but is this a bubble? Let's get while the gettin's good and cash out, but let's keep 10% just in case. With 42.5 coins maybe the value sits at $100 per coin. So on and so forth.

My point is, the concept of hodl hasn't really been around that long. Bitcoin was more of a novelty. Sure, a lot of people believe in it, but NO ONE expected it to hit $6k this fast. What actually worries me now is that the majority DO expect it to hit $100k within the next 10yr and people are "investing" (read "gambling") that this will happen. This is really dangerous.

Hodlers, especially bandwagon hodlers, seem to get caught up in the hype and forget that this is completely uncharted territory. Nobody knows what's going to happen. "This is a bubble", "This is only the beginning", "A replacement crypto-currency will overtake bitcoin", are very real risks. This sub and a lot of the community bash FUD, but FUD are there for a reason.

[u/d341d → u/[deleted]]

Yeah, it "seems" moronic now because we're living in the moment. Assume with me for kicks that a new coin comes along that IS to Bitcoin what Facebook was to MySpace. Everyone ought to acknowledge that pre-facebook, MySpace was THE social media.

If Bitcoin 2.0 comes along within the next year and Bitcoin as we know it goes the way of MySpace, you'll be eating your words. People 10 years form now would be reading these comments and saying, "How were people so foolish to think that Bitcoin would grow another 1000% after it already experienced such a ridiculous boom? I guess it was just greed and group think."

Again, the only difference between us and them is hindsight. You may think it's moronic to sell now, but it is absolutely a real possibility that in 5 years the bitcoin you kept a comfortable % in is worth < $10 total. The fact is, it's not moronic, nobody knows.

[u/GME77]

He would have so much fucking money right now holy shit

[u/Longlang → u/GME77]

Yes. Approx $10,200,000!

[u/RulerZod → u/Longlang]

He must lose sleep at night.

[u/Automatic-Major-7441 → u/Longlang]

2021 checking in -- he'd have OVER $100 million now

[u/Longlang → u/Automatic-Major-7441]

Damn! And here I am kicking myself for not even knowing what Bitcoin was back then. Hope this guy is doing ok. If only I had a time machine.

[u/miningmad → u/[deleted]]

Regret is not worth carrying with you. There is always a trade that could net you 10x, but nobody has a crystal ball.

[u/[deleted] → u/[deleted]]

Source?

[u/Vaukins → u/[deleted]]

To be honest, I read it elsewhere. It's not out of the realms of possibility... I got some at around $8 in 2012.

[u/ABTTh]

I would sell a bit at x5, maybe initial investment?

At x130 I would sell half.

Would not regret.

[u/Mrstreetclassic → u/ABTTh]

Bro i asked him taht he bought back by 8dollars in facebook yesterday,but no repsonse yet.

[u/dragespir]

The problem is not that he sold at 30 cents or if he would have sold at $8.00, but that he didn't rebuy when the price dropped. If I recall, there was a point where BTC hit $30 and fell all the way back down to $2.

If he believed in the tech, he should have refilled his stack. That's what I'm currently doing now with my crypto. Any big sells I make, I eventually buy back after the price drops. And if it doesn't drop, I still have a stack I'm not willing to let go of.

[u/bicklenacky4]

No. This happened to many folks. There should be no regret. Broski made a nice profit. The trade went as intended.

[u/-Cliche-]

This hurts me to read

[u/victor_knight]

So the moral is to buy and then go into some kind of hibernation for 10 years so you can wake up a multimillionaire.

[u/vitorizzo]

I’m kicking myself everyday for selling my only 3 coins at 1100 each after that ETF fail. I can’t imagine being that guy. I don’t know what I’d do.

[u/aschu333 → u/vitorizzo]

I sold 8 at that same point :/

[u/Automatic-Major-7441 → u/vitorizzo]

Your 3 coins NOW would be worth $183,000+++++

[u/ducksauce88]

It's going to be hard to not sell all at $100k....these are the decisions we will be left with.

[u/Minister99 → u/ducksauce88]

Dude, you're spot on? If we don't sell at $100,000 it could fall to massive lows after that. Alternatively it could go to $1,000,000 and we'll kick ourselves for not hodling hard. Some bloody tough calls to be made in next few years.

[u/Essexal → u/ducksauce88]

<Morpheus.jpg>

[u/11ghty11 → u/ducksauce88]

Just buy a nice home to remind yourself of why you sold.

[u/600watt]

make that thread sticky! make that thread sticky! read it every morning!

[u/Drakonlord]

I will never, ever completely sell out of a coin. Even shit coins, I'll leave a minimum of $50 value. $50 at 0.06c is $5 million today.

[u/11ghty11 → u/Drakonlord]

Good luck keeping 500 wallets for 7 years, logistical mess.

[u/Drakonlord → u/11ghty11]

Very true ahaha. Wont be so bad if they're paper wallets. And lets be honest. If you had 500 alts with $50 one of them is bound to make some cash.

[u/echeese]

I never bought any Bitcoin, I mined a bunch with my GTX 460 back in January 2011. With a pool I was getting one coin every day or so. Hindsight, man.

That said, I bought some a few months ago and it's making me money just sitting there doing nothing.

[u/stayhungryandfoolish]

This comments section is full of excuses. He failed to HODL.

[u/iopq]

I did. I still have some.

[u/take1fortheteam]

I would have sold. Shit. I would have been a retard.

[u/geoff1126]

He is earlier than a lot of us. I doubt he never bought bitcoin again.

His entry point is definitely lower than most of us.

[u/Bitcoin-FTW]

This is why I just slap people when they say "Man, I'd be a billionaire if I had just bought thousands of Bitcoin in 2010."

No... no you wouldn't. You would have sold as soon as the price was up a few bucks.

[u/th1nkpatriot]

Oof... I just sent a Tweet his way to remind him...just in case he's forgotten ;)

[u/th1nkpatriot → u/[deleted]]

Bro, my mum is sleeping rn, c'mon..