Bitcoin Forum

14th October 2012 bitcoin was $12 currently at 19k, down with - 70% since its ATH I feel this a second chance given to new investors

Take the chance today and HBTCDL

https://i.ibb.co/kgKN99N/Screenshot-20221014-061925-1.jpg

I think you may want to check your figures and move the decimal point a bit ?
Nonetheless, if you’ve been holding since 2012- good on ya  :)

Lol yeah, the difference is just $7K and gold are performing better than Bitcoin :P
 
Actually it's pointless to compare the early year of Bitcoin with the current year because Bitcoin price is really cheap on 2010, while Bitcoin price right now is already worth for $19K-ish which is the gap is too far. If you compare each day on 2010 and each day on 2022, all of them are gain and there's no day where Bitcoin price on 2022 lower than 2010.

What makes you think so? Bitcoin is far better in performance now than gold in terms of asset and profitability, maybe you can try give a look here  Annual and monthly profitability of bitcoin  (https://bitcointalk.org/index.php?topic=5388701.msg59451937#msg59451937) with article published by Ratimov on this particular aspect, i want you to see bitcoin as multi-facet assets that has more potentiality than gold, bitcoin serves a currency, an asset for investment, unit for store of value and a profitable investment over time than centralized gold.

 
there will always be a need to make reference in order to understand how it all started and have focus to where it's going, it could also encourage beginners new in the system understand better that bitcoin is not a shitcoin

I am kind of hoping you are just joking around here  :P because as we know, a picture is worth a thousand words.

https://i.imgur.com/skH2ZiI.jpg

So needless I start explaining plus you can check it out yourself.

https://www.longtermtrends.net/bitcoin-vs-gold/


You are right. I don't believe that it is not important to look at Bitcoin price from the beginning and how far it has come and where it could still be. These are some of the proves you need to show how solid the project has turned out to be when compared to others that came way after it which must have also perished.

Where did you got the $12k from?
At 2012 bitcoin was less $50 so i wonder where you got your chart from maybe there is an error somewhere else.
do you think is all those who bought at 2012 have kept their bitcoin till date? no because even when such opportunity is given to us then we would have sold and never think of the future were it would be in the next 12 to 20 year to come.

Note that, as stated by @Mbitr, you seem to be interpreting the decimal point wrongly. The reading on the Twitter entry (https://twitter.com/WatcherGuru/status/1580778027482775552?cxt=HHwWgIDUzbPPhvArAAAA) is 12,15$ (12.15$ in the image), where the separator is a decimal point.

I tried to see where the exact figure came from for the sake of it. This site (https://www.statmuse.com/money/ask/price+of+bitcoin+in+2012) places the price for today-10 years at 11,86$, whilst this other one (https://www.in2013dollars.com/bitcoin-price-in-2012) brings back the 12,15 $ mark (but as a summary for the whole of october 2012), and this other site (https://buybitcoinworldwide.com/price/) sets the mark at 12,04$ per BTC. Not that there is much difference between them though.

I would add that I've seen bots interpreting the decimal point better than this.
If the tweet would have been about $12.150 then OP could have had an excuse, but as it is, nope...


I'd guess that if he would be holding since 2012 he would know the price levels from back then and not mistaking at such level of magnitude.

It could be a typo but looking at the picture you will see the price he is referring to. I also think like you, do not believe that those who had the opportunity to buy bitcoin at the beginning of the year like 2012 can hold out until now. They could have sold it when it hit $100 or maybe $1000 because bitcoin is as uncertain as it is now and no one could have predicted it would become such a big thing as it is today. As satoshi also said: after 20 years it may be nothing or it will also have a huge trading volume. Bitcoin is unpredictable.

It is good to remember the price of Bitcoin 10 years ago when the price is expected low but we have nothing to do to turn it back, nothing.
Actually, regret is only what we get if we keep remembering those days and ask ourselves why? I have nothing to compared today and 10 years ago, the market changes and that is how the market evolve just like us that we grow old and we're not able to get back as a kid and do thing that we miss before.
I was happy of what it happen today, that is somewhat important.

In the last 10 years the history of bitcoin a lot has definitely happened. A lot of crypto made millionaires have emerged from the cryptocurrency environment while a lot of people who were millionaires from crypto currently are no longer millionaires all as a result of the choices they made. Fact is in the next 10 years a lot will also happen in this cryptocurrency space, new millionaires will emerge while some people who are currently millionaires will no longer be millionaires by then, the position we will be is dependent on the decisions that will make today and consecutively before that time. Make good decisions, acquire more cryptocurrency and keep Hodling for as long as you can.

This can't be a comparison because 10 years ago we were clueless and only now is proof that $12 Bitcoin can reach as high as $69k (2021) as ATH and for its current price of $19.7k it's just history that Bitcoin went from small to high. to be the largest ever in a decade.

Now the best way is HODL in 2022 with an average price of $19k and wait 10-15 years from now will the current price become history again? Or in the next decade we will see $100k-$200k? It's possible for me Bitcoin has a different cycle in each iteration of its history.

Keep your money in Bitcoin for sure we can see how the price will come. the word HODL became my reinforcement.

Don't expect the same gains as the Bitcoiner's who held for 10 years. I do expect gains, because we're in the usual time when very few talk about bitcoin now more, and it's not over hyped by even soccer banners. I also expect gains, because within the next few years, maybe 8, 10, 15, I'm quite convinced that it'll someday become a necessity for some merchants to move to bitcoin, because they aren't going to have an alternative.

And this is the reason that people know how to hold and value that attitude more than anything. We've come to a realization that we can never underestimate Bitcoin nor predict that this is just a temporary uplift and it turns down like the old days. But what we have experienced is continuous development and price upgrades bringing more people to recognize this project. And we never know how far it could reach 10 years from now, double or triple its current price, we never know actually.

I think, holding is the solution to see a bright future after this bearish season, which many crypto investors are very ready to exercise patience with the current price. Bitcoin still remain the king among other cryptocurrencies, because 10 years ago those that exercise patience to hold their bitcoins to allow the bearish season to disappear before they can sell, really made a huge amount of income from their investments. I don't think, potential investors will afraid of what is happening in the crypto market than to be happy for the opportunity in this month of October.

I feel like it was a typo rather than saying @OP was drunk and wrote the wrong number lol ;D

In that year, few people wanted to invest in bitcoin, even though the price was still very low and people could buy it with large amounts of bitcoin. But gold is still tempting, so people buy gold instead of gold. Maybe not many people bought bitcoin then, and yes, they are now smiling happily, seeing their bitcoin count increase due to the previous drastic decline.

I checked on Binance and Hubie exchanges only to find out that some investors are in a bid to buy 1 Bitcoin for $15k. It's not yet obvious to some investors that $19k is a good opportunity to buy, as some are expecting to buy at $15k. 

That's why they are different them others who were able to forecast this long ago, even at the beginning of the bitcoin journey. They are now wealthy elite-class people in the world just because they had confidence because of the nature, and features of bitcoin. It's not that easy to forecast the future, at least forecasting what will happen after a decade. I would never say anymore that pioneers were lucky enough to get it faster. It's actually the forecasting capability of the group of people. Check out the below post, the guy was talking such that he was so sure Bitcoin will reach $10k someday. It hit long ago, right after a little more than his prediction of 6 years.


Lol. I feel like what? Bitcoin was $12k back in 2012? No!!

yup. i remember ~ $10ish usd range in 2012

source: i was there


uh, its possible to have done both you know.

Lol.. For me, I also join you, because maybe OP might have taken like two bottles and almost drunk before writing this thread, because there is actually no similarity between $12.15 and $12k, as presented by O.P, as the gap is way too huge of over 10000%..

It's basically better when we invest for the long term, because that's actually the goal for investors. However, I will not brand people who invest in a short period of time to be wrong, because it returns to each of our beliefs. As long as it's still profitable I think it's fine. But what I have noticed is that more people like to invest in a short time, maybe this is inseparable from the needs that must be met.

If only we were aware of bitcoin 10 years ago and we had enough knowledge about it back then we could have at least hold on to some of it.
Assuming that I knew about bitcoin back then and I bought 10k BTC then I would have sold most of it in the previous bull and bear cycles.
But at any cost I would have hold on to at least 100 BTC and even that would have made me a millionaire.
But I am happy that I got to know about bitcoin at least in the last few years.
Not a millionaire but at least I am happy to hold some coins and I wish it makes me a millionaire some day.

It wasn't 12k in a decade ago. It was 12 USD. Probably a typo or you read it wrong. But yeah, those you held for a decade (I wonder how many of them are there), invested a good amount is probably leading the life now. But I doubt we will be seeing the price go up the similar way in the next few years or in a decade.
No matter the price of bitcoin, if you have money lying around, you have been given a second chance to invest. Every moment is a second chance!
The difference isn't 7k USD. Look at the picture he posted. Now would be saying the same that gold has been performing better than bitcoin in the long run?

Most of the guys that hold since that era are typically those who forgot there Bitcoin wallet already and just recovered it lately. At that time Bitcoin price is too volatile and there’s no guarantee that the market keeps moving upward since there’s only few exchange and one of them is MtGox that start the bad impression of CEX for not safe to hold funds. I’m sure at that time is very anxious on holding there tokens due to a lot of scams so typically only few will remain as OG holders and those people are the one who didn’t check there wallet most of the time as well as the price.

Some says HODL isn't that easy people can thinking it as. You can see your portfolio climbing up easily, enjoy the ride but one can't HODL when the price gets down, specially in a capitulation moment. However, imagine you had 10000 BTC purchased with $100k @$10/each. When you would see your portfolio have turned into a billion and again it got down to half billion, would be still able to HODL? I doubt many would but brave can and that's where they have the advantage to be the billionaire.

Let's see..
you (or someone) invested 100k and would get all scared when your portfolio "drops down" to half a billion?   ::)

You're joking, right?
Why would I care, if my portfolio is 1, 10, 500, or 1000million, when i only invested 100k? Greedy much? I don't get it.

I still hodl coins from 2010 and I'm perfectly fine with not having them sold at 60k+.
There's absolutely no reason to sell more than I need in fiat to pay my bills and I don't need to sell that many todo that, which is nice.

Sometimes I wish I knew about Bitcoin earlier. Early adopters of Bitcoin had a once in a lifetime opportunity by being in the scene so early. I learned about cryptocurrencies somewhere in 2014, which isn't too late I guess, but being a moneyless teenager, I couldn't do much to acquire Bitcoin early on. I remember asking my parents' permission to use their card in order to buy one whole Bitcoin but getting rejected. Thus, I resorted to trying to acquire BTC in other ways, such as faucets. I managed to accumulate a decent sum through them, but it wasn't any life-changing amount, even by today's standards.

For those saying that Bitcoin's price is irrelevant, it's not. We don't share the same opportunities compared to the past. A thousand dollars could get you a couple of BTC in 2013-2014. You'd only receive approximately 0.05 BTC. The possibilities of multiplying that kind of money now are way too slim compared to 2012-2014.

How are they feeling who sold 10 years back? But we don't realize now how we will feel 10 years later since we are selling Bitcoin. We can't imagine the important of things when we have it. But those don't have or lose they realize. It's not too late, newbies should inspire when they notice what was the price 10 years ago and what would happen 10 years later.

We will not get this type of increase ever again. From 12.5 dollars to nearly 20k dollars, that means it has increased 1600x times bigger, in order for us to go x1600 bigger from the current price, we would need to be 32 million dollars per bitcoin.

I am not saying that it won't go up, it will go up and make you rich and you should invest into it, but do not imagine for a second that there are a lot of profits to be made left. You could make 5x, and that's more than good enough in this market and we need to prepare ourselves for something like that. If you get ready for 1600x then you will be sad, but if you get ready for 5x then you will be ready.

This is the meaning of:
results that do not betray the long struggle and process. Bitcoin used to be considered something strange and impossible for many people to accept. But now, Bitcoin is one of the investment targets with a high market cap.
Maybe right now, the price of Bitcoin is falling but that doesn't mean trust in Bitcoin is decreasing. The proof is that more and more parties actually buy Bitcoin during Bearish because of the preparation for the bullish momentum later.

I understand your point, but we'll never know still. What if we will dump at a huge significant price of Bitcoin then it will go bounce back on some high price?
We all know where Bitcoin will go, the same as what happened years ago when Bitcoin are starting. Or maybe if ever we will get on these high prices, for sure we don't exist anymore in this world.

We like progress and that's hell of a kind for bitcoin.

I don't know, maybe if I'm holding bitcoin or bought at that time. There's a big tendency that I might have sold when it goes $50 - $100 or a thousand.

It's not that easy to hold for so long unless you've forgotten that you have it all of these years and suddenly remembered. That happens for some instances.

It's everyone's wish, but I suppose even if we had enough knowledge about it, we wouldn't have bought it at the time. We want to go back to that time because we already know what can be achieved today, not because we have full knowledge of it and want to possess it because of that knowledge. Those who made the first bitcoin transaction or those involved in bitcoin development at that time they had a very good knowledge of bitcoin but who will hold bitcoin until now?, I think definitely not. Even satoshi was skeptical of its development, no one was sure at the time.

Bitcoin's price moved sideways in 2018 and 2019, with small bursts of activity. For example, there was a resurgence in price and trading volume in June 2019, with the price surpassing $10,000. However, it fell to $6,635.84 by mid-December.

really it's time for us to invest by buying bitcoin I'm sure bitcoin will go to another month like 2020. I hope we can all feel something like that again.

A lot of people are exaggerating that if they had a chance to go back to that time, they would buy and hold to this day, or who wish bitcoin would drop to $1k and they would spend all their wealth to buy bitcoins. It's all a lie, I believe if we were at that point and things were uncertain we would be just as nervous as they were and quickly sell bitcoins if there was a profit. No one is brave enough to trust and hold bitcoin until now, no one is brave enough to hold bitcoin when our wealth grows 1000 times.

You said what I was going to say. I do agree that the days of exponential growth counting from ATH to ATH can no longer happen. Getting in November 3.5x from 2017's mark only confirmed that.

But who's to say Bitcoin won't experience an incredible dump, as you say, even below March 2020's bottom?

I personally think that in the real of highly unlikely but Bitcoin's about to experience its first global depression.

$4k? $2k? Then another 20x from there to next ATH isn't just possible, it's probable.

Of course, now looking at these figures and comparing the price of bitcoin with a difference of 10 years, of course it looks amazing, but they can only be real for those who have not parted with bitcoin. But at that time, the overwhelming majority perceived the crypt as entertainment and parted with bitcoin with ease, you didn't buy, for example, Sega's first releases for the sole purpose of stocking up on cartridges and putting it all in the closet to sell it all at auction in 20 years.

I don't know why you think gold is performing better than bitcoin, but when you look at the growth of bitcoin compared to gold you'll realize what you're saying is untrue.

Networth of bitcoin 19K$/Bitcoin Is much more when you take into consideration all time gold value and compare it with bitcoin's all time value.

It is pointless to cherry pick, but isn't that the whole point of we're trying to argue wanting to say gold performs better than Bitcoin? We can switch the goalposts all we like to fit our agenda, that's usually the point.

Start of Bitcoin and start of gold, put them side by side and see where we are today. That'd probably be the fairest but then I would whine that that puts 10 years of Bitcoin in comparison to thousands of gold.

The price increased unbelievably since 2012. Even if we think back to just 4 years ago, $20k was a blessing, the truly high price Bitcoin achieved or almost achieved only once. Now, just a few years later, many are whining about it being such a low price. Yes, it's around 70% down from the ATH, and I agree that it's a huge drop. But around $20k is still very impressive, while at the same time being a good chance for a long-term investment. It's not cheap, but it's unclear if the price will fall significantly below this point, and it's still good if you believe Bitcoin can cost $100k-200k in the next few years, which I do.

People can only say this because they are not on the actual situation and even if today that btc is now famous, many of us are still hesitating to buy it. Those who made the early transactions of btc do have a little knowledge in btc but they are not aware if what btc can do, that its value can grow like this.

If only they did then I don't think they will spend their btc like a normal currency but some of them are lucky to forgot access to their coins and recover it later on. Satoshi develop his own coin so he have a confidence that his creation will be known someday because it was unique and has an interesting use case and here it is now.

Remember, Your past can be a motivation..
As if on any point of your life you feel that I just can't doo this or this is like something impossible just once, by recommending view or analyzing your past, You will feel like ohhh this .. this is nothing in front of what I have gone through last and you will grow faster then before and that would be the motivation from your past. The same case is with the Btc MANY OF US THINK OHHH NOOO its pozi dude looks at the past. You would know how a potential assets you own..

But people would really be always minding that time should be going back and able to buy those cheap coins because if we do make up some comparison in todays price then it isnt something cheap as we do compare

into those past years that had passed and also they've been thinking that even if they would accumulate on the current price, it cant still make out those huge multiplier profits that they could get.

This is why they arent really that interested on accumulating lots but its true that comparing to altcoins then i dont see any place where you could really make some ideal investment
and be holded for long years to come but only with Bitcoin.

Yes, a decade ago, bitcoin wasn't this much known and famous. Many people have already came across with it but chose to neglect because we don't have any idea how it works or if it will become what it is now. In fact, there are only few people who trusted it and knows its value but only a very handful of people who still holds it until this very day. And you're right mate, this is a good chance to accumulate more while it is selling at a discounted price because we don't really know if this is already the rock bottom for the next decade to come.