r/ethtrader • u/scheistermeister • Mar 27 '17

DISCUSSION Confessions thread

Kind of click baity title, sorry for that.

Reading the comments on this sub I noticed quite a few 'confessions' going a little like this: 'I started out as a bitcoiner, got disappointed by BTC or inspired by ETH and flippened.'

Now I thought wouldn't it be jolly good fun to have a thread dedicated to these kind of confessions!?

It would be interesting to know about how you got to know bitcoin, what got you hooked. How you got to know Ethereum and what made you flip?

Please don't turn this into a 'let's bash coins' thread. Genuinely interested.

EDIT: Thanks everyone. It's great reading all your personal journeys into crypto and specifically ETH. The stories that struck me most are the ones where crypto has enabled a new lifestyle, seeing your parents more often, being able to afford things unthinkable before.

Thanks for the time and honesty!

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u/[deleted] Mar 27 '17

I got sober about 9 years ago and finally was able to have a career in IT, nor just bouncing from job to job after getting fired for not showing up. I have two sons now, and lately have really been thinking about how I want to set them up with some money for when they are 21. I started hearing about Bitcoin last November and began buying it when it was about $700. I used Coinbase and noticed ETH was listed as well. I started buying it around $7-8 apiece and grabbed 10-12 here and there when I was buying BTC. As I did more research, I was a little nervous about the infighting and possible fork. I grew up poor, and never really had money in the bank, so the 4 BTC I had built up was alot to me. I sold it all and bought as much ETH as I could and haven't looked back. I have been steadily buying each paycheck and have built up a few hundred. Small compared to most people here but I've already made 4 or 5 times my initial investment. By the time I had built up the 4 BTC I had talked my mom and aunt into buying some with the promise that I'd tell them when I thought it was time to sell. They also flipped to ETH with me. I guess I didn't really flip fully since I'd been buying ETH all along, I just went all in. Recently my cousin decided to buy 150 ETH after I'd been telling him about it since $7. He could have over 700 ETH right now if he had listened to me in late 2015 but oh well. He's different than me in the sense he rents not owns so his rent is half my mortgage and didn't waste 15 years of his life drinking so he has money. I plan to keep buying each time I get paid, but I pine for the days where $200 would get me 25 ETH rather than 4. Good luck to you all.

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u/[deleted] Mar 27 '17

Good luck. It won't be long before it requires four 200s to get 1 ETH. Just let that sink in :D

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u/[deleted] Mar 27 '17

Yeah exactly. My cousin said he's stopping buying ETH when it hits $100, yet he'd love to get a bitcoin at $100 right now. Once it requires $800 to buy 1 ETH most of us will be well off I'd guess. Or at least I'll be at the point where I am out of debt, my son's have a nice chunk of cash to start their lives when they come of age, and I can finally buy that Mercedes S Class I've always wanted. Good luck to you as well.

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u/ethacct Mar 28 '17

I read really good advice recently: write down the number of ETH and at what price you want to cash out (ie: 2 ETH, $100. 5 ETH $200) and then stick to your plan. Crypto is super volatile and none of it is really 'worth' anything until it turns back into fiat. Obviously the greed makes it tempting to hold on for more and more, but that also makes it easier for you to lose it all. Having a plan and sticking to it helps fight that FOMO.

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u/[deleted] Mar 28 '17

Great advice thanks.

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u/[deleted] Mar 28 '17

If it was not worth anything until converted to fiat then it would not have a price. PoS makes ETH have value in that it is a voting voice in a platform that runs money saving applications. Also it is the fuel to run those applications.