Bitcoin Forum

I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.

how much you had till now ?
if i had, i always sell at any price .. i need money

I started using Bitcoin in 2013 and I'm still holding most of my coin. I would say that I only spend around 30% of what I earned for web hosting, domain and physical goods only. The rest I spend were to invest in cloud mining (in the past) and trading altcoin.

From 2012?  My guess is sailing around the world on a yacht right now :D  They may not have internet access until they get to port so it might take them a while to respond here.

i'm not from 2012, but i think i'm gonna sink with this ship, i can't sell at this ridiculous price ever

cool to see another hodling thread.) well, I sold majority of bitcoins at ~900 and now still hodling...selling bitcoin at 230 is madness if you know enough..

I went in 2013, still holding and firmly believe this is the last year one s able to acquire a few dozen BTC. After the next block halving, only really large whales ll be able to get in. So, don't lose your faith.

I tend to believe the same. But, this recent Gavin vs GMaxwell duel does not seem well. I wish, Andreas mediated their ego problem and the fork does not take place.

So you are holding since 2012? Sorry but that's just greed, it went all up to 1200 my friend, thats like around 100k%.

Did you have a large stash back in 2012?
I only wish I was aware of bitcoin back in 2011/12, I'd be a very rich man now.
I've been buying for 18 months & hodling, haven't sold any but I didn't have the opportunites that you've had to sell at huge profits.
Did you not sell anything at the ATH mate?
I respect you for not selling large amounts when we reached over 1000 USD as you obviously believe we'll go to the moon but I also question your business sense at the same time.
Tell us a little more.....

The price is not ridiculous at all, yes it went all up to 1000+ but that was artificial. If that didn't happen bitcoin would sit around these levels with plenty of room to go down. I believe bitcoin will test the 160 again and even go lower than that. especially once the fork happens with people having the possibility to sell twice to double, so a big chance the price to just halve instead and some other who wouldn't know to which chain to go and rather stay in fiat to see which one fades away would there be miners in both chains.

It does not happen like that. No one knew the ATH before the fall started. Till that time everyone thought it was just a correction. Moreover, most of the people who tried to sell @ 1200 at Mt. Gox could not take out their money ultimately. When price shoots up, many things happen that u dont really expect at a lower price.

Im a 2013 user and I think you are doing the right thing. 1 year or 10 years, electronic payments will rule the world. Cash is going to disappear in our lifetimes with 100% of certainty.

hodling forevah



Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.

So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)

Let's try some more realistic numbers:
- idealistic tech nerd in college or recent grad in low paid job with maybe $1000 spare cash, decides to blow a whole $200 on bitcoins
- 40 BTC
- gets excited by huge increases and sells 50% at $500 (or more likely, spends it at multiple points on the way up on videogames and computer hardware)
- $10K!! The most money that kid has ever had.
- (optional greedy idiot addendum: then loses most of it on altcoins trying to replicate the previous success, spends next few years hating all crypto and trolling bitcointalk)

Yeah, that's nice. But not quite yacht level monies.

The only people who are early retirement level rich are those who (A) got in in 2010 or earlier, and still had the great foresight to hold for years or (B) Were already in a position where they could risk many 10s of thousands.

And I think it's fairly obvious who these people are if you read Bitcoin related news. (Think: key developers who work on crypto projects without other sources of funding, guys like Roger Ver and others splashing money around on Bitcoin startups and bounties, and a few peripheral types who seem to do nothing but give interviews about Bitcoin)

Shorting.

And then you would have to buy again on the lows to keep being a HODLER.

And don't forget the taxes! 27% in Spain on capital gains.

Why you not sell your coins on the end of 2013??? :-\
I know bitcoin on the first of 2014 and I really miss the end of 2013 :( and now I'm holding my fews coins

Cashed out needed cash and shorting.

I'm holding as well (since 2013), but i don't know if bitcoin will survive the next halvings (probably it will on Q3 2016, but i'm not sure about the ~2021 one).

really TF? You say you're for bitcoin but we all remember what happened with inputs.io  ::) I wonder how many are still wanting their refund.

1m$ is definitely an understimate for a life of sailing the sea on a yatch. You would need a solid 10+ for that.

As for the people that got legit rich, they were extremely lucky, thats all. They bought tons of BTC for peanuts in 2009, and the ones that bought less (but still a decent amount) hold by accident because they forgot about BTC for 3 years and sold when they heard about it again on the news as the big pump happened. It's being at the right time doing the right thing. I wish we could all become rich with BTC at this point, but we would need BTC to take the lead as the #1 electronic payment method. For this, the blocksize problem is a big problem, and im not sure if Bitcoin will ever be able to achieve that technically, someone correct me if im wrong.
Did satoshi design Bitcoin in a way that it couldn't deal with tons of transactions per second, or it was a design flaw?

i used the bitcoin this year and i am learning about it i want be a good bitcoiner  :D

I got into Bitcoin in 2011 but only really started to believe in 2012 and mounted up my Bitcoin during mid 2012. I'm unsure what im going to do at the moment. I might just sell 50% of my coins to avoid losing too much money. wait until the dust settles and if I feel that the economy is going to pick back up I'll buy back in. but ill keep my other 50% coins just for holding.

Maybe exchang some for good altcoins?
This Bitcoin is too much drama.

Dont listen to this guy most alt coins at the moment are useless and not most are a direct copy of bitcoin or another alt coin. If Bitcoin doesnt succeed then I cant see any other candidates at the moment doing what bitcoin couldn't.

All of them.

It really sucks when the bitcoin you scammed won't go up.   ;D

Well not much to tell about, because still Bitcoin is banned in my country. So apart from some online gaming and shopping, I don't have a much to do with my coin. Hopefully my country will accept it someday and new stores will open.

I didn't cash out at $1000. Nobody was talking about cashing out at that time (at least that I know of). We thought that it was going up from there and so I was still buying more - not a lot, but still buying. People nowadays all talk about "should have" and stuff, but that wasn't the general feel at the time.
Then when it went down, there was no way I was going to dump the coin, because I know it will go back up again and further.

That being said I use the Bitcoin I have, I don't hodl all of it. I have a good amount in cold storage, but I've been buying and spending it like I would fiat.

I may move some of my coins until the blocksize thing is changed and guaranteed a stable future of transaction volume capacity. May get more XMR , looking pretty cheap now and shouldn't be a victim o the same problem.

Hey good to see people like you. Could you share your future projections for BTC? Or you may PM them to me... I think there is not that much upside for BTC unless the bitcoin economy expands more & btc  regains the trust, which has been lost after MtGox. Volumes have been quite down recently...

Regards,
G6trader

PS: Could you pls PM me?

Still holding and accumulating some more at these rates.

Don't give TradeFortress too much shit. He's one of the only remaining true entrepreneurs left on this forum. It's a pity that the most successful and wealthiest Bitcoiners can never be talked to again because they're not welcome here. Don't you wish you could still talk to Mark Karpeles/MagicalTux? The first thing I'd ask him is if he walks around laughing at all the dumbasses he fucked over to make himself rich. I'm sure TradeFortress does the same thing. Every time someone calls him out for being a crook he probably just starts wildly laughing while thinking to himself, "yeah, but I got yo money muthafucka". LOL

I wouldn't call it a flaw, more a reflection of the limits of technology. Hard drives and RAM are limited, bandwidth is limited, blocks and the blockchain can only be so large before Bitcoin starts choking.

You can increase the transaction capacity but it requires more investment in the mining equipment, which is just what this 20 MB fork civil war and fears of centralization is about. I'm brainstorming away on a pet project that, if I can ever get a conceptual model working, would involve the use of a customized cryptocurrency. But it requires dramatically higher transaction capacity than bitcoin (if it simply replaced what we are doing today globally, I'd need to be able to maintain 1,000,000+ transactions/second), and I've not found a means to cope with this yet. If anyone has any ideas on that, drop me a line...

True, but to live the rest of your life looking over your shoulder really has to suck.   ::)

Sold everything I had left around 600-800.

But I have always mined and sold. Probably have handled 1500 bitcoins over the last few years.
I never put cash into an exchange but I did buy mining hardware (AMD).

I did OK!

Now I pop into the forum every once in a while to catch big news, watch the price a bit, and check out the asian girls are hot thread in the off topic area. lol.
No plans to buy anytime soon.

Nah, this is a geek forum. No one here has enough balls to hurt anyone or Karpeles would be long dead.

It only takes one. 

I'd love mine!

Sold it all for peanut butter futures...

Goober!   ;D

Satoshi intended for Bitcoin to scale according to its growth. He knew that if Bitcoin is to ever succeed as a serious currency used for payments then the maximum block size would need to be much larger than it is today because obviously, you can't fit tons of transactions in <1 MB blocks. His comment about how sending 2 HD movies over the Internet would seem trivial by the time Bitcoin reaches this size suggests that he believes the network should be able to accommodate the increasing bandwidth requirements of Bitcoin due to the trend of increasing network connection speeds (Nielson's Law):


Link: http://www.mail-archive.com/cryptography@metzdowd.com/msg09964.html


I guess in retrospect it seems pretty obvious that those were temporary bubbles and that the price was unsustainable. Interesting that it wasn't really apparent back then. If the price ever shoots up by >5x in one day, I'll definitely be selling half of my coins.

Im new in this community i hear about bitcoin and i gain money if i used my brain in this community and im trying what i can do to gain money using my knowledge but im not too smart for this community but i can make it