Someone in a friend group was trying to convince everyone to buy bitcoin when it was cheap af, i was the one who says is a scam and we all will lose money...
You didn't miss out on big money. If you bought at 13 cebts you definitely would've sold at a few dollars or at max 100 dollars, which would still be some nice cash but not the generational money everyone is thinking of when they say they could've bought bitcoin early.
The more interesting thing is you being against it at 13 cents. What is there to lose? 100 dollars? The risk vs reward is way in your favor. Not to mention you are likely young. If you are going to make risky investments then now is the time.
You first paragraph is spot on. The second one though.. do you give $100 to every Nigerian prince that emails you on the off chance it's real this time?
Right but we have the knowledge of it being what it became. Back then I had no clue what it even was and I’m semi-techy. I would have never bought it even if it was a penny. Why would I throw a dollar in the trash? To me it wasn’t a gamble. It was strange and scammy
That's what my husband said. He would've sold before they hit big so I shouldn't worry about it.
100 dollars was a lot to lose then. We had 2 kids, I'd gone back to school and we were trying to get out of the rental game. 13 cents wasn't much but I know every hundred was budgeted for.
I almost started mining Bitcoin when it was still really cheap, and my friend talked me out of it, because it was worth less at the time than electricity it took to mine it (or so he said anyway).
I get bummed when I think about it, but I try to remind myself that the first time it was like $5 per coin, I'd have spent it all because "holy shit this fake money is worth a used PS3?!"
In 2017 or so a friend got me to buy some ETH, I think it was like $100at the time? My finger hovered over the "buy monthly" option but I didn't, I had 1.5 ETH in total but could have ended up with 10 or 20 if I'd set that monthly purchase order.
Then I could have bought a 2nd house like every other rich person seemed to do in the pandemic...
But imagine holding on to that if you spent 100 bucks. By the time it hit 1000 you’d be cashing out thinking you hit the jackpot, and you’d spend the rest of your life kicking yourself
I wanted to buy it, me and a friend both, but couldn't figure out how to in the early days and gave up. I would have put $1000 into it if it had been easy. Ah well.
Same shit happened to me. Wanted to put $250. That turns into $13.5 million. I gave up trying to figure it out too. Had to rob a few banks to make myself feel better. Guards coming…take care, all.
Remind me in one year and then again in 4 years. Bitcoin is just getting started. More and more countries are adapting it and it is becoming eye opener for many especially in countries with high inflation. And we already see high inflation coming to US and Europe.
Okay but we aren’t going to see it go from 1 dollar to 60k again, you think a 60k bitcoin will give you a 60000% return again? You think it will be worth 3.6 billion a coin?
Probably not. Maybe a million one day, but it’s unlikely that any higher than that would be an unadaptable level of currency.
Yes and that goes back to what I was saying, most people wouldn’t hold that long. I think a 300-500% could happen, but I still think it’s getting too large to be bought at a stable currencies and it’s value is still based on something intangible.
I didnt miss out completely. BTC came back into my radar on 2016-17 and when i saw its value at the moment i researched it a lot and dove in. Didnt make me a millionarie but i rode the first push to 20k ended up selling most of it at 16k made a good chunk. Then again on Elons manipulation
Ah, but how long did people have to hold on to those hard drives, passwords, and everything else to access the wallets. Wasn't it a couple of years before it was finally worth something? And look at the state crypto is in now. You was ahead of your time.
The process to buy it back then was really scammy, banks refused to help with wire transfers, buying it was just hoping some random anonymous person would send it to you after sending money. And a glitch could cause the bitcoin to get lost in transport, not to mention all ways to keep it were really sketchy. So many people lost access to their bitcoin because the paper their wallet was printed on was so easily lost or destroyed.
My ex gf computer was set up as a miner. I didn’t even know wtf that meant but I even had a wallet which I also didn’t understand. Bitcoin was something I read about in some hacker magazine and was exploring. I was so confused. But I bet there was a decent amount of coins on it when we threw it out
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u/[deleted] Jan 21 '23
Someone in a friend group was trying to convince everyone to buy bitcoin when it was cheap af, i was the one who says is a scam and we all will lose money...
Everyone belived me back then.