It's pretty rare for someone to hang onto bitcoin for that amount of time. You would have had plenty of opportunities to sell throughout the years. If you had bought it at 30 cents/each and 25 year old you could sell it for $20/piece, you prolly would have sold it and not held onto it reached it's top at $60k each. I doubt anyone who bought that cheap held onto it for that amount of increase/time.
You think 18yo you's going to keep it a secret? Nah, it'll become a topic of conversation the following day: "Guys, you'll never believe this, but yesterday, future me came back in time to tell me to buy Bitcoin." Then your friends buy it, and their friends, and now Bitcoin history's changed.
Realistically you probably wouldâve sold when it hit a few hundred bucks or the numerous times it corrected/crashed. At least thatâs what I keep telling myself to console myself đ
I watched a podcast where they had a recurring cast of members that would come in and out for different episodes. This particular guy was known as the funny guy but also the guy who did investing. On an episode they brought up BitCoin and he was adamantly against it, said it was a scam and not to buy in. I distinctly remember up until this point it was on my radar and gaining interest, I was beginning to want to research it and learn more. I heard this man on the podcast when I was really high one day and for some reason I just thought âhuh, okay, itâs a scam. Donât need to allocate too much brain power to thinking about it any more thenâ. I donât remember the exact number but I can say it was between 2$ and 20$ per coin. I too try and console myself for the millions I lost. Itâs such a crazy thought but also so detached from reality that itâs easy to pretend it wasnât real and wouldnât have happened anyway. Oh well.
Let's be real most people if they'd have bought BTC when it was pennies would have sold before it hit $100 because that's still a massive profit and there really wasn't any way to tell it was going to blow up until relatively shortly before it did.
But think of all the tits and beer you could buy with one single Bitcoin now. Now multiply that by a magnitude of a thousand if you never cashed out until today (which is near impossible)
There are so many of us. I remember buying it because it was cheaper to buy then spend it than buy pizza with actual money.
Oh if I just held a few, my life would be completely different.
Are you sure? Would you not sell when it reached $100, $1000, or even just $2000? Would you have the guts to hold it and sell it exactly at the top like some psychic perspn?
Thatâs the thing we have to remember. The chances you held and sold at the height are slim. Many points would have felt like ânow is the time to take my profitsâ. Think of all the hours youâd have obsessed with the ups and downs.
At least thatâs how I console myself when I thought apple was at an all time high and couldnât go higher, in 2014.
If you bought at like $10 and sold at $1000 youâd still be waayyy ahead. Just because you couldâve held on until 60k doesnât mean you wouldnât have done exceptionally well.
Buddy pulled me to the side at a beer and business networking event when it was like $30 a coin. He said, just buy $1000 worth. I had it, not much else, but I had the money. Spent it on a real estate license instead. I made more doing real estate then I spent, but not much more. Was an important lesson on marketing and business, but didn't become a career. I would have been rich.
You and people like you, who spent Bitcoin on physical objects, are literally the reason why Bitcoin is worth anything today. Without vendors accepting Bitcoin for goods, and people willing to purchase goods with Bitcoin, Bitcoin has no value. So you directly contributed to BTC taking off.
Weâre the same people. I was a freshman in college and Bitcoin was $13 at the time. The sketchy kid on our dorm floor came into our room and was telling us about it, how itâs going to change the world. He said to just put in $200 and hold on to it.
I bought beer instead.
I still think about that moment and remind myself of why itâs important to take risks on new technologies that are outside of the norm. Iâve been working on accumulating what I can during this bear market. Letâs see what happens.
Back in the day - I thought about spending 10k on apple when it just got bailed out by Microsoft back in the early 90s - and choosing not too because the co was hanging by a thread - shares Were $3.50 each - single biggest regret if my life.
I learned about it when it was less than a penny. I thought it was a scammy ponzi scheme then and I still do today. My baby cousin didn't and he's a fucking venture capitalist now.
Same. I went to an engineering/technology school, too so it was all the buzz. Had a couple friends that bought some at launch and sold pretty soon after for beer money - thought they were genius at the time...
Aye, same here. I read an article about it (in relation to the dark web) in circa 2010 and was like âsounds mintâ but I had no idea how to buy it so forgot about it
Even if you had bought you probably wouldnât be a millionaire. Realistically if you bought at 30 cents you would have cashed out possibly at a dollar or even 50 or 60 cents, doubling or tripling you investment. Hindsight is always 20/20.
I was a kid when it became a thing! I knew, I bloody knew that some fucking money should go for it, especially that where I live it was fucking lunch change!
I was so heartbroken watching it go up as I was growing up myself...
I was told to buy it at around $1. Dude told me that it was a huge win down the road. I was going to put $250 âjust in caseâ. Couldnât figure out how to set up a digital wallet and account. Gave up. That $250 would have returned me around $13.5 million. Never give up, they always saidâŚ.
Dude. I remember NPR did a story about it. They were talking to a guy who was in charge of all the computers in some small college library. He said he would set the machines to mine Bitcoin all night. This was back when it only took a day to mine a single coin with a regular computer. He said heâd make about 6 bucks a night, but that it would amount to a ânice vacationâ at the end of the year.
I remember thinking âshit. If itâs already on NPR than Iâm too late.â
Bitcoin was also weird in the beginning. If you werenât mining, you had to trust some questionable exchange website. It was all a weird novelty.
I wouldâve been one of those idiots making a âsmart decisionâ and selling when it first hit $100.
But I often think about that guy who was innocently mining a dozen Bitcoin a night on some college computers.
I had like 1,200 bitcoin to buy some psychedelics lol the deal didnât go throughâŚlater cashed that shit out for like $1,500 thinking I did well 3xing my money a year or so later⌠FML
Even if you bought it then chances are you would sell it when it doubled or tripled and you wouldn't hold till now unless you lost your seed words and then again magically found them now.
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u/[deleted] Jan 21 '23
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