Bitcoin Forum

You know the guy I am talking about, there are so many of these guys that bought Bitcoin in 2009 or 2010, thousands of them. Then somehow they forgot about Bitcoin for a few years and then one day they woke up and were millionaires and were like holy shit i forgot about Bitcoins!

So you need to forget about Bitcoin for a few years, maybe two, maybe three. Then one day you will wake up and be like Shit, I am a Bitcoin millionaire.

Everyone will call you an early adopter that got lucky. You can tell amazing stories about how you recovered your coins from a printed wallet you found buried in your kid's treasure chest in the back yard. You will tell your kids and grand kids how you bought one of the first 13 million coins. They will write stories about your wisdom and patience.

Yes be that guy.

No DieJohnny, you can't unload your coin while the rest of us sit on our hands.  Nice try tho.

Normally I only read these boards, though I feel compelled to respond to this. I just want to state that I can't figure out what I find more annoying: the idiots spreading FUD with the use of 20 different accounts or this type of delusional permabull nonsense. It isn't sure that Bitcoin will be worth something in 2017 guys, so stop taking that for granted. Bitcoin might as well be dead and overtaken by another altcoin by 2017. Fact is that Bitcoin is a high risk investment at this point, and surrounded with a lot of uncertainty.

You could also be that guy who bought btc at $1200 and forgot about it, only to find that out lost three quarters of it's price later on.

Obviously he didn't forget about it for long enough.

Well said. hoarding BTC for 5 years at least

Hashrate is still climbing. If you can buy below cost, then what's the problem?

We've seen bitcoin's price collapse from $32 to just above $2 within 6 months, only to rocket to MtGox's fake $1200 a couple years later.  Anything is possible I guess, but chances are anyone buying into bitcoin today is not going to become a millionaire by sleeping on their wallet.  Too many people know about bitcoin already.  We've tapped the greater fools in China and left them holding the bag. 

Governments in numerous countries have become involved and now require photo ID collection by major exchanges just to cash out bitcoins.  Ask the people who handed over their photo IDs to MtGox how well that went.

It went totally great for us Yanks until Dwolla froze all of the mtgox accounts :P

use the mining calculator here
https://bitcoinwisdom.com/bitcoin/calculator
and you will find that you will not able to get your investment money back in a year or two
mining cost is much more then you written here
also difficulty is increasing

Few miners get that efficiency or have electricity that cheap. Their equipment gets more obsolete every day. A 100% markup is fine for seasonal retail, but I doubt miners are making such a gamble or wasting their talents on a one time shot at short term gains.

 i would be willing to hold your bag if you like.

Thanks OP I woke up this morning, saw your thread and though .... darn I did some mining in 2009 for a few days ... ;)

http://i57.tinypic.com/2ur2jv4.png

http://www.camaro5.com/forums/attachment.php?attachmentid=260904&d=1309810626

Such a thing would never happen a second time

That's the thing. You only get the massive increases in value when investors realise that the invention has huge potential in the future. That happened for BTC in 2012-3, and now all that is happening is those dreams are getting beaten down by the reality of slow consumer adoption.

The only way to get a new spike is for a new realisation of possibility, currently unknown. Some pick up in adoption does not count, as a pick up in adoption was already factored into the dreams of investors in 2012-3. It needs to be something truly new.

The technology clearly has potential, but there doesn't seem to be anything new regarding BTC as a commodity. That to me suggests that any explosion of value is likely to occur elsewhere, such as with a new crypto business venture (not necessarily using BTC) or adoption of a new, more effective, crypto-currency.

Perhaps you have a better chance of getting rich without doing much by buying into a crypto VC fund.

You can also wake up and find that another coin or version of BTC took over, and your coins are worth nothing.


Or that Bitcoin is overregulated and they are worth cents, and hard to sell and buy.

Bitcoin went from nothing to something, going from something into a big stuff is way harder

The United Nations would not allow any of those bad things to happen.

Ya...it jumped up to $32 and crashed down under $2. No way it would go back up over $32.

The parabolics we saw on BTC in 2013 were a very rare event in terms of markets.

Being that guy gets harder and harder when a lot of other people are trying to be that guy too.

This market will stagnate for months, maybe years, so pay attention to something else, like maybe decide to check Bitcoin prices when the Cubs win the world series.

To be that guy, you would need a timemachine to go back to 2009.
How in hell can one invest as hard as back in the day now, unless you are already well off, if you want similar gains? (you are talking millonaire here).

anyone who thinks bitcoin has already hit its full potential is delusional.
the market for bitcoin is the entire world, how many people have them? almost none.
anyone who is lucky enough to understand bitcoin today and be in a position to buy it is going to be extremely rich in 20 years.

the current paper money regime is not going to last for much longer, its been collapsing for the past 14 years and is now on life support in the form of permanent zero interest rates.
the only alternatives are precious metals and bitcoin.
i'd like to see you buy something on ebay with gold, bitcoin is the only option for honest money in the modern world.

Yes, this five years just marks the beginning of new era in human history.
Fluctuation is expected. R.I.P. banks.

I totally agree.
Either we go back in time using gold or we go into the future using bitcoin.
It's just what TPTB allow to happen.
But I don't think they will switch off the internet because otherwise they cannot share and download their kiddy porn.
So biggest chance is bitcoin taking over the world.
But always make sure you have some precious metals as well, you never know for sure

Be that guy who figures out how to use bitcoin in your every day life.

I would not say that bitcoin has reached it max potential but I would also not say that it would potentially be a world reserve currency, or the only currency used throughout the world. There are simply too many obstacles to adoption for much of the world to be able to use bitcoin.

that's scare my so much! so the price can drop until 160$!!!

all i can do is wait until the next halving :(

I woke one morning and remembered i did some faucets last year. Took ages to sync wallet again. Well, there was not that much in that wallet, since i did those faucets only 2 days, but was so big change that i got so interested in bitcoin to end on this forum :P

When your grandma will be using bitcoin to buy bananas at the market fair you'll know that bitcoin reached it's full potential;  :-*

This
... and this

Sure, paper money will crash, but it may take as long as 2075. Historically, systems as we know it, last for 200 years. The dollar and fiat money could go on for another 50-60 years easily as it crashes. We will not wake up tomorrow and say wow, worldwide money has replaced dollar. It will be extremely casual. Thats why Bitcoin as I see it is just a test for the true worldwide currency that will come in the future. Bitcoin as it is now is too monopolised, so its like 1% vs 99% again.

Haha Lol, Hope it will ever happen.

Hahahaha as if fiat isn't controlled by the 1%  ::)

And where did you get those facts, 200 years to a system fall?

I heard that a currency dies in around 50 years, so the dollar is pretty much a zombie right now.

Although OP seems a bit overly optimistic with the "kids and grand kids writing storys"-part, he's right with his assumption that even those who buy today will be considered early adopters.

I'm not claiming to know the future. But if Bitcoin is successful it will have to scale massively. For that to happen, Bitcoin must become much more easily obtainable. All people that want to buy Bitcoin today have to take some (technological / administrative) hurdles, before succeeding. All people that are willing to put in this little bit of extra effort can be considered early adopters.

So I think it's wise to invest a little bit into Bitcoin, but not too much, so it doesn't feel painful in case of failure.

ya.ya.yo!

Only if Bitcoin survives [in a meaningful way] for a few more years.  There's a [non-trivial] possibility that people buying @340 will be know for buying close to the top, like those who bought @1k.

Back in the old days (April 2013), it was possible to make massive returns, or massive losses, in a matter of a few days...
Mid March 2013: $50
April 9th: $230
April 16th: $65

Now that is pumpin' and dumpin'!!!

No need to wait 5 years then.

 :D :D

TOO MANY he said



 ::)

this whole thread is top kek

I'm the guy who buyed @ 1000 and then whatched his money slowly decreasing till now, and didn't sold.

I will not sell when it will reach 1000 again, and will not @ 10000. I will not sell when it will " crash"  back again to 3000.

When I will be billionaire, I will be more epic than " that guy"   :)

Do you actually believe in the nonsense you wrote?

What is it to you? Do you say the same to those who bought at 30 dollars in 2011?

the number of dreamers here!
https://i.imgflip.com/1bik.jpg

Very well then. I'm sorry. Carry on with your billionaire fantasies.

There you go again. Don't let the door hit you on the way out.

So how long should I hodl my btc until I become a billionaire?

It's ironic how someone who brings logic to the debate is dismissed as a troll by your likes, yet the one who spouts delusion is defended and justified, all because of greed.

If by logic you mean accusing him of being a liar and talking nonsense then right you are, Spock.  

Someone with the username 'MrBig' accusing random people of having 'billionaire fantasies' on a forum chock full of millionaires probably shouldn't throw the word irony around too much.

Depends on how many one has...

It could happen to people with 4 digits amount in maybe 20-25 years

Do you think it's impossible for someone to become a billionaire holding BTC?

Satoshi was a billionaire for a couple of days !

You're pretty broke now, huh bro?  Ask me how I guessed :)

I believe OP is referring to me. I will share my words of wisdom and help you all become rich by following my easy 3 step program.

1. It does not matter if you buy or sell, just as long as you do it in a panic.

2. Invest in lottery tickets.

3. Buy Coinye Coin, it is soon to replace all currency/fiat and has been estimated by professionals to be a 100+ trillion dollar market by 2015. Richness is *GUARANTEED.

*Warning, this is not a guarantee.

Firstly I didn't call him a liar, but rather, asked him a question. Secondly, my username, which I happened to choose from a candybar wrapper that happened to be in front of me when I made this account, has no bearing whatsoever on this discussion. Thirdly, my irony statement was referring to the double standards of certain bitsheep and has nothing to do with millionaires on this forum.


Satoshi is said to have over 1 million btc, he's not your average btc holder. Either way, most people buying a few btc and expecting to become billionaires are delusional. People buying 1000 btc and expecting to become billionaires are delusional too. People buying btc without expectations and considering it a risk that may or may not pay off are thinking rationally.

I don't care about the price of btc in 25 years. Technological innovation happens fast, and it's only a matter of time before btc is dethroned by one or more superior cryptos.

200 years? you have got to be kidding, the dollar in its current paper backed by nothing form doesn't have more than 20 years, and im pretty sure im giving it way more time than it'll have in reality.
all the central banks are at zero interest rate, they fired all their guns, that is it end of the road.
when another wave of market crashes occurs the only way out is by dropping money out of helicopters and completely destroying the dollar in the process.

before the Soviet Union collapsed no one could believe it will ever happen in their lifetime, and yet one day it practically happened overnight, you will not believe how fast the world transforms once the panic sets in.

I could be delusional, but i'm not because of greed.
I was. When I buyed the little amount I could @ 1000 USD, greed was motivating me. I eard of btc before, but I thought they where only to buy drugs on internet.

Now i'm considerable more poor than before, but i've learned some lessons and a lot of things about btc. And I want more of them, because I HOPE they will success, and i'll do anything I can for it to be.

Stop measuring the value using USD and everything will be fine

Yeah, cause people like to change the forms of money they use every 10 year right, no big deal, right MrBig

I guess it's only a matter of time then for that new superior crypto to be dethroned, cause, you know, technological innovation happens fast.

Or maybe the next one is the ultimate form ?

 ::)

There will always be localbitcoins trading, giftcard buying and direct purchases with bitcoin. KYC offramps aren't needed now or in the future.

I never said 10 years, but rather a matter of time. Also, I don't consider btc to be money.

Anyhow, nice of you to try to change the subject from the btc billionaire fantasy.

 ???

and you expect us to have a serious debate with you?

No, I expect you to continue believing that btc is going to turn you into a billionaire.

Are you shorting Bitcoin right now?


https://www.bitfinex.com/
https://icbit.se/


If not , why not?

No I am not because I do not trust these centralized exchanges.

Do you trust any existing exchange? Are you waiting for decentralized exchanges for providing this feature to short Bitcoin?

Definitely not shorting Bitcoin, but I have no expectation that it is going up. My goal is to collect Bitcoin at prices I am comfortable with. I have done ok in the past year (growing my bitcoin stash), but not close to what i was hoping.

As for another crypto taking over this is right now a fantasy of the nerds. First, by saying something like an anonymous coin is going to create a winnning formula over bitcoin implies that Bitcoin is failing to gain adoption because of lack of anonymity, or speed, or whatever you techno blable brain can come up with. The masses of users don't care about any of the "missing" features of bitcoin.

Look at what has happened to every alt coin that has come along in the past year, they are all pathetic little nits hidden in the shadow of the mighty bitcoin. All follow the same pattern. Feathercoin, DarkCoin, Monero, DogeCoin, even litecoin, just dreaming they could sustain what bitcoin has. Bitcoin is currently down 70% from highs, all the rest have peaked and crashed long after Bitcoin did, and crashed 90% or more. There will be an endless number of magic coins, the more there are the better case Bitcoin will have.

Will an alt be around in 5 years that is anywhere close to bitcoin, maybe just one or two, what are the chances you pick the right one of those? pretty damn small.

I have no plans to be rich this year or next, only to collect as many coins as I can. If i get rich, great, if I don't oh well. i have lost more money in the stock market in the last ten years than i have invested in Bitcoin.

Use bitfinex. I've been quite satisfied with it.