BITCOIN THROW BACK [RETRO] Will History Repeat Itself?

[serjent05]

I was browsing this section and happen to stumble on this thread which was created way back years ago,  and made me think in our present time, how lucky are these people who happen to know and believed in Bitcoin.

From https://bitcointalk.org/index.php?topic=12156.0 | Titled: I am pretty confident we are the new wealthy elite, gentlemen.

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

To think that not so long ago I was paid 50 BTC for two hours of work.

From https://bitcointalk.org/index.php?topic=39863.0  Titled: Earning "free" bitcoins

These are my favorites (as seen in my signature )

Bit by Bit - Free 0.001 btc every day! No joke!
Daily BitCoins - Absolutely free Bitcoins every day
Bitcoin Flower - 1 free btc given out everyday

These guys speculate good things about Bitcoins, 5 years after, The person who created the thread and called themselves  new wealthy elite, gentlemen just came true (am talking about those who just accumulate BTC during that time).  At this moment, I wonder what will happen on the next 5 years, would history repeat itself and create another batch of new wealthy elite gentlemen?  What do you think?

[Pursuer]

yeah, that is right. we are indeed the wealthy elite but this price is just the beginning of a lot more profit to come and makes up a bigger wealthy elite

and since this is a throw back, I mostly like the speculation topics which are pretty old. I have read some of them before, those topics that are from the time that price was $0.25 for 1BTC and people were arguing about if the price goes over $1 or not.

or something like this where people are excited about reaching $5 in 2012

[serjent05]

yeah, that is right. we are indeed the wealthy elite but this price is just the beginning of a lot more profit to come and makes up a bigger wealthy elite

and since this is a throw back, I mostly like the speculation topics which are pretty old. I have read some of them before, those topics that are from the time that price was $0.25 for 1BTC and people were arguing about if the price goes over $1 or not.

or something like this where people are excited about reaching $5 in 2012

Yeah kinda tired of reading about what if Bitcoin reach this and that thread, so for a change how about reading those what if's of people way back years ago  and i browsed your link and this is very entertaining especially the opening thread

From https://bitcointalk.org/index.php?topic=56265.msg0#new | Titled:  $5 reached!

Most fantastic!

did u get ANY sleep last nite, what with it being News Years Eve and your bedside laptop?  LOL!

Haha, I managed a bit. A good solid three hours of sleep until 5am, at which point I randomly woke up, saw the price was $4.90 and got excited. After several minutes of trying to sleep again I left the room, laptop in hand, so as not to wake my gf. I was up for a couple more hours watching it at that price before I setup on the couch and coffee table. After a couple more hours of poor sleep, my trusty laptop fans woke me the moment it hit $5.15.

They were much more excited than us today LOL

[DimensionZ]

Well sadly the times when one could pick up coins for pennies are long gone but I think the important question now is if we are still considered early adopters or we are too late to the party now and can't get cheap Bitcoins any more. As the saying goes the early bird catches the worm and looks like the early adopters made a killing and it goes to show that scared money makes no money and brave investments should be made to secure considerable profits like that 2013 price spike. I think this will be a very decisive year for the Bitcoin community and we might reach a new all time high. Brace yourselves people 

[helloeverybody]

Im more concerned that history will repeat itself after the halfning when we reach a new all time high and then crash back down to abysmal levels like what happened the first time. I do have high hopes being that bitcoin is now more decentralised due to more people buying into bitcoin  that it will be much harder to dump down to low levels. As time goes on i hope that there are less and less whales with the ability to affect market price greatly. Its still a worry though.

[serjent05]

Im more concerned that history will repeat itself after the halfning when we reach a new all time high and then crash back down to abysmal levels like what happened the first time. I do have high hopes being that bitcoin is now more decentralised due to more people buying into bitcoin  that it will be much harder to dump down to low levels. As time goes on i hope that there are less and less whales with the ability to affect market price greatly. Its still a worry though.

This is very much to happen, but as i said we can learn from past history, but need more investment to catch up with the price lost in BTC when it plummet in 2014.  So as history repeat itself, after the bubble comes the burst, after the burst comes the bubble and the cycle repeats.  People can reduce the effect if they do their research and learn from what happen after 2013 till the present.

[talkbitcoin]

nice historic topic.
if you are looking for things that never happen you should check history of the user called "kwukduck"
if you have visited speculation board you have seen this user always saying bitcoin is going to crash

[The00Dustin]

This is very much to happen, but as i said we can learn from past history, but need more investment to catch up with the price lost in BTC when it plummet in 2014.  So as history repeat itself, after the bubble comes the burst, after the burst comes the bubble and the cycle repeats.  People can reduce the effect if they do their research and learn from what happen after 2013 till the present.

You mean like you learned from the history before 2013?  First bubble I saw was $30-40 and burst back down to $3-4.  There were other bubbles after that and before 2013...

[pereira4]

Historic evidence shows that Bitcoin goes up in phases, and once the bull phase is over, it corrects HIGHER than the last floor, this means that it's only going UP if you look at the big picture. Funny and quick way to illustrate this:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

[Junko]

Yes, I think history will repeat itself. Not only will it repeat itself, but it will repeat itself several times more and each time it will do so at a greater magnitude than before.

I remember when I first got into bitcoin, I remember feeling the same way people getting into bitcoin now feel and thinking, Man, those early, early adopters who bought in for pennies were so lucky compared to those like me who bought in for $12 after the $32 ath. For a while, I wondered to myself, shit, did I buy at the wrong time?

I began to think the chances of bitcoin reaching $30 again was just a pipe dream fantasy. But fortunately, I got to experience the euphoria when bitcoin not only reached $30 again, but went on to break $100 and beyond.

So don't worry, guys. After this halving and the next halving in 2020 or whenever it will be and the price is in the 5 digit range, there will be new people saying, "Man, those lucky bastards who bought in before the 2016 halving..."

[densuj]

I think yes history will repeat itself and price of bitcoin will going down, and the analysis tecnical use system history will repeat of course with some weakness of it.

[Kprawn]

Those same people could have been a bunch of people who had the balls to invest into Bitcoin a year ago. If you think of this now... a year ago the price per bitcoin was more or less $200. If

you bought $ 1 000 000 worth of Bitcoin 1 year ago and you sold it now, you would have made a profit of $ 2 000 000. The people back then, had the guts and balls to invest in something that did not

reach $1000 before, and they still did.... The risk were rewarded and most of them made millions. 

[yenxz]

I was browsing this section and happen to stumble on this thread which was created way back years ago,  and made me think in our present time, how lucky are these people who happen to know and believed in Bitcoin.

From https://bitcointalk.org/index.php?topic=12156.0 | Titled: I am pretty confident we are the new wealthy elite, gentlemen.

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

To think that not so long ago I was paid 50 BTC for two hours of work.

From https://bitcointalk.org/index.php?topic=39863.0  Titled: Earning "free" bitcoins

These are my favorites (as seen in my signature )

Bit by Bit - Free 0.001 btc every day! No joke!
Daily BitCoins - Absolutely free Bitcoins every day
Bitcoin Flower - 1 free btc given out everyday

These guys speculate good things about Bitcoins, 5 years after, The person who created the thread and called themselves  new wealthy elite, gentlemen just came true (am talking about those who just accumulate BTC during that time).  At this moment, I wonder what will happen on the next 5 years, would history repeat itself and create another batch of new wealthy elite gentlemen?  What do you think?

Glad to see you back with good post,and another happy feeling to see post like this,yes you are right,we are new wealth gentelman nowdays,we hold bitcoin that have good value and price.its never dreamed before that we can reach this position.

[helloeverybody]

Historic evidence shows that Bitcoin goes up in phases, and once the bull phase is over, it corrects HIGHER than the last floor, this means that it's only going UP if you look at the big picture. Funny and quick way to illustrate this:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

This is what I'm banking on,  I'm hoping we go up further yet and then if we came back down then the current level were at right now  (700 dollars).  Obviously if we dropped back down to 500 dollars or less then perhaps bitcoin would be in some serious trouble.  Of course i welcome a floor higher than 700 as well

[LFC_Bitcoin]

Historic evidence shows that Bitcoin goes up in phases, and once the bull phase is over, it corrects HIGHER than the last floor, this means that it's only going UP if you look at the big picture. Funny and quick way to illustrate this:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

This is what I'm banking on,  I'm hoping we go up further yet and then if we came back down then the current level were at right now  (700 dollars).  Obviously if we dropped back down to 500 dollars or less then perhaps bitcoin would be in some serious trouble.  Of course i welcome a floor higher than 700 as well

A 700 USD floor is pretty bullish imo, I'm looking as high as 2500 USD before I start to get excited though. I really hope the current price is miniscule in the big picture.