Bitcoin Forum

I just spent my last two bitcoins on Ethereum. am I a sucker or is it really the future?

I'm a big fan too, I do think it's the future, but i wouldn't go all in! Instead of 4000 ethers, i think you could have maybe just purchased 500eths. Good luck buddy, i hope they don't fuck us over but i really don't think they would. I'm watching this talk again

https://www.youtube.com/watch?feature=player_detailpage&list=UU6rYoXJ_3BbPyWx_GQDDRRQ&v=rJAEgFz-vjk

It's probably not a good idea to go 'all in' on any coin. Also keep in mind you won't have access to that btc for like 6 months now.

500 Ether, like slaveforanunnak1 just mentioned, may have been a better idea. Still... what done is done... for all we know this time next year you may have doubled your money, or more.

Ethereum is very promising but no one can say if it will be a nice investment, there are too many unknowns.
You should have invested only a small percent of your capital.

Well....... you have six months to ponder it, then find out.  :-\

Might even be longer than six months..

BTW - 2 BTC is only going to get you around 0.000033% of all Ether.  Just to see a 10x return you're probably going to have to wait until Ethereum is worth $300 - $500 million and no alt other then Litecoin has done that.  I'm not saying it can't happen but Ether right now is just speculators and there's no guarantee that crypto mainstream will even come on board.  Maidsafe was another huge IPO and that was a major let down and people would had made way more money off Darkcoin.


Especially considering the time you are waiting for Ether to come out - you might have missed out on several good opportunities.  You don't need to go big to score big, people who invested $150 into NxT back in October 2013 made $2-$4 million.  It's too late to reverse your decision but you're technically better off diversifying into multiple promising coins than throwing all your eggs into one basket.

Just in case the OP is getting depressed, I  wouldn't be surprised to see at least a minor pump as soon as Ethereum is released. So yeah, maybe it won't be a giant profit, but it could be some profit. Even MaidSafe, which a lot here don't think was such a great IPO, is in profit territory right now (last time I checked, anyway).

One could rightfully argue that other uses for that btc would be more profitable, but it's not like everyone picks winners all the time either. If you  didn't invest it in Ethereum, you could just as likely spend that 2 btc on couple of coins that bomb out during the next 6 months... nothing is guaranteed.

And $150 in NXT brought in 2 Million? Sure those numbers are right? I know their investors made money... but... that sounds sort of insane. It was before my time here, so at least I can't feel bad about missing it, as I never knew about the IPO to begin with.

"people who invested $150 into NxT back in October 2013 made $2-$4 million."

The total NXT market cap is only 40MM.. That means there were only 10-20 original investors that invested $150. But there are 70 founders.. Does not compute?

Not the exact numbers but close to.  NXT had a 1.5 BTC limit and back then 1 BTC was $60 to $150 in October.  Only like 20 people invested the 1.5 BTC limit and those people got around 5% of NXT each, so yes these people made $2 - $4 million in 2014 depending on when they sold.

NXT wasn't the only coin.  There was tons tons tons of alternates that were premined, instamined or bought up by a small number of people who took in a lot percentage of a coin for next to nothing and later made huge amounts.  The best time to get into a coin is the very beginning where huge amounts can be bought for next to nothing.

I look almost every day / week for a NXT styled opportunity but they're rather rare.

71 to 73 IIRC but only like 20 invested the limit, the rest threw in random small amounts.

The magic phrase is, "don't go all in on one coin". You're taking a big risk on btc you won't get back for probably at least 4 months, but it's still probably less of a risk than most alts now days.

A bit long time before it launches..

BIG funds freezing

So its about buying at the beginning and dumping after so the late investors are the bag holders? Thats about right, sounds like the state of the altcoin markets today.

I haven't kept track of NXT that closely, but it's still going strong. I'm not so sure I'd call any current NXT investor a bag holder. Their IPO and limited distribution is what people tend to bring up as a negative for it... probably holds it back some.

Unfortunately yes.  I've bought many coins after they've launched and lost money as the IPO / instamined / professional miners crowd wasn't patient enough to wait for a coin to grow and attract an user base.  I'm generally hesitant to buy into any coin, nowadays, with a capitalization bigger than $500K as I don't want to be a bagholder like I was when I was a crypto newb.  I also tend to refrain from buying any POW coin due to all the professional miners out there just looking for a quick buck.

good luck

The two aren't mutually exclusive.

I'm almost glad I wasn't around when NXT held it's IPO, as I'd be kicking myself for skipping it.

Almost all ICOs nowadays for decent coins get a lot of attention, which I guess is the problem. Assuming there are even decent ones to begin with. I wonder how many people invest in ICOs randomly just based on how NXT did? I expect a lot.

BTW: I own some NXT. But, it seems like every coin has it following and they become more diluted and divided every day. Everyone seems to be pumping their own coin of elegance and hoping to get out at a higher price or in hopes of breaking even after the dump. I see less and less of development and infrastructure into existing coins, because the real money is made by developers in pumping and dumping the latest new coin.  

Well for all the people who whine about NXT - nobody has yet to come forward and said they actually lost money from it, not one person as far as I know.  I bought most of my NXT around 2 to 3 cents I think and already sold off one entire wallet.  NXT also rebounded in like May / June of 2014, so that was the time for any "bagholder" to sell off if they wanted to.

If a bagholder was in a coma - last I check NXT still has active development and some hype buying will probably push it back to 7 cents again.

I can't disagree there. I was just commenting on NXT, as it didn't really look like a pump and dump coin to me. They did have that little rise recently, after NEM used its exchange thingy, too.

People don't have patience, and in many cases, rightfully so. It seems devs have moved on from premines, to ICOs, instamines, or some other way to make their money. I almost felt better when devs had a premine, as at least I'd know they'd stick around long enough to dump it.

It can be depressing watching trollboxes, as it's sort of the pump and dump mindset in full force. The thing I mind the most, I think, isn't even the pumping/dumping, just the hype/fud game here and price manipulation, that tends to go along with it. It's like a bizarre game, that tends to get annoying after a while.

I know, I seen the FUD game played when Cloak and Crypt was released. It was ridiculous.  After seeing how both coins attacked each other I sold both.  And good thing I did. No real development because they were too busy spreading FUD and Hype. Its whats altcoins have come too..

I do like NXT. Its one of my top three holdings. Innovative technology and not just another clone. 

I made a bit on Cloak and still hold some. But there are some giant red flags with that coin. It's one of those coins I would never recommend to anyone, but... could be profitable, at least short term.

I at least try to mostly go for coins that have some unique feature, things like Drk, or even some of the recent ICOs, Via and Crypti. Or Ethereum even. Problem with Ethereum is of course is it's too popular. I was set to invest a rather decent size amount (at least for me), until I saw how much they collected.

And the fud/hype thing happens with all coins, so I don't necessarily consider it a deal breaker. But it's incredibly annoying. I guess sometimes you can use the pattern to your advantage though. Fud after a pump quite often seems to mean whales are eating again, fud dies off, hype starts up, another pump... repeat as necessary. Just watch the pattern and try to swim with whales.

I wont say u made a mistake or u dint. Look upto it like this...

If the team is confident about the price rise of ether, why are not they holding the pre-mine rather selling against BTC ? They have VCs behind them. So money is not a problem for them. If ether would be valuable, why the core team would be selling it in the first place ? Lot of early adopters of Bitcoin like Hal Finney, who believed in bitcoin, still hold their stash. So, if the core team is selling ether to raise capital, why should public buy it ?

Ethereum IPO was too massive so it scared me away from investing a bitpenny.

there is going to be enough ether for everybody. It isn't scarce. If i want some i will mine it later. Ipo is for idiots 99% of the time. Imagine there would have been no ipo what profits could have been made! But now everybody has ether and there won't be large profits later.
I think ether is going to be interesting but i am no sucker to buy their shitty rippoff-ipo

Be weary of massive HYPE is all I can say. Any HYPE I ever bought into I got burned badly. Lesson learned.

Dude you are crazy.

Auroracoin almost hit a billion dollar market cap, even if it was only for a brief moment. Certainly not impossible for some other coins to accomplish this because Litecoin was not the only one.

hmm.. Thanks for the enlightenment. You made me realize I did the right thing.