I am pretty confident we are the new wealthy elite, gentlemen.

[JayJuanGee]

Wow so the OP was a guy named Atlas ---snip--- Why did he delete his account?

From my past experience , Many people joined this forum at early time , and they experienced the growth of BTC , i joined here somewhat at 2k13 , I witnessed a massive dropout from here , as the coin value started to drop after 1170$ , the people started to piss off from Rally.
You may find many accounts of people registered at 2011 and still they are members or Full , and Last login is 2013 or early 2014.

Those are only the shallow people, weak links.

We dont need those. They only come for quick buck.Fuck them.

We the veterans will hold bitcoin, and if they come back, well too late, we will make the big profit not them.

Actually, there are likely going to be all kinds of flavors of persons entering and exiting and reentering the bitcoin space. 

Those earlier adopters are at least somewhat aware of bitcoin, and even if they became disenchanted or skeptical, they may have enough subliminal knowledge of bitcoin that they are going to assist in various pump phases of bitcoin when they jump back on board while the price is going up or provide support when the price is going down, and they think that it will go back up.

Bitcoin has come a long way over the past 4-5 years, and people who were already aware of bitcoin are likely going to become reacquainted with it at various times - even when their level of information may be skewed by their own negative initial experiences.

[1714120537]

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[1714120537]

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[1714120537]

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[RealBitcoin]

Actually, there are likely going to be all kinds of flavors of persons entering and exiting and reentering the bitcoin space. 

Those earlier adopters are at least somewhat aware of bitcoin, and even if they became disenchanted or skeptical, they may have enough subliminal knowledge of bitcoin that they are going to assist in various pump phases of bitcoin when they jump back on board while the price is going up or provide support when the price is going down, and they think that it will go back up.

Bitcoin has come a long way over the past 4-5 years, and people who were already aware of bitcoin are likely going to become reacquainted with it at various times - even when their level of information may be skewed by their own negative initial experiences.

Sure but only the loyal persons are rewarded.

Those that bought at 5$ and still holding, when price reaches 50,000$ they will be the new Elite.

And the rest of them are just opportunists or scammers that went for a quickie.

[JayJuanGee]

Wow so the OP was a guy named Atlas ---snip--- Why did he delete his account?

From my past experience , Many people joined this forum at early time , and they experienced the growth of BTC , i joined here somewhat at 2k13 , I witnessed a massive dropout from here , as the coin value started to drop after 1170$ , the people started to piss off from Rally.
You may find many accounts of people registered at 2011 and still they are members or Full , and Last login is 2013 or early 2014.

But if they are here since 2011 they should have thousands of Bitcoin which means they would be pretty rich even after not selling at the peak last ATH... so why would they get mad an disappear? That's pretty dumb I think. If they keep holding they will just keep getting richer. Also they would be Legendary by now which in itself it's pretty valuable.

I would not assume that 2011 adopters have thousands of coins, even though it is possible that at some time they had thousands of coins.

They could have profited with their experience and they could have been burned a few times by the up and downs of BTC prices.

Imagine buying 1,000 coins at $10 when the price goes up to $32, but then maybe you fail to cash in and then the price goes down to $2, and you decide to recover your losses because you fear BTC is going to $0 and thereafter you witness the price go up to $260...

Those kinds of experiences could cause some earlier adopters to feel bitter about getting involved in bitcoin, because it has been so frequently difficult to time anything with the price or to have a plan exactly for what to do when BTC prices goes up  to cash in some but to hold on to some, also, and people have a tendency to want to lock in profits of all their holdings when they see their BTC holdings losing value... 

So they may end up with no coins or only a few coins based on their inclinations to cash in profits or fear of losses in the value of their BTC portfolio.

[jbreher]

But if they are here since 2011 they should have thousands of Bitcoin which means they would be pretty rich even after not selling at the peak last ATH... so why would they get mad an disappear? That's pretty dumb I think. If they keep holding they will just keep getting richer. Also they would be Legendary by now which in itself it's pretty valuable.

1) Many (most?) early large holdings have been dribbled away -- through dice, profit taking along the way, bad investments, or scams.

2) What the hell is valuable about Legendary status?

3) Atlas (OP, currently listed as Anonymous) is a special case - read back through the thread for the explanation.

[JayJuanGee]

Actually, there are likely going to be all kinds of flavors of persons entering and exiting and reentering the bitcoin space. 

Those earlier adopters are at least somewhat aware of bitcoin, and even if they became disenchanted or skeptical, they may have enough subliminal knowledge of bitcoin that they are going to assist in various pump phases of bitcoin when they jump back on board while the price is going up or provide support when the price is going down, and they think that it will go back up.

Bitcoin has come a long way over the past 4-5 years, and people who were already aware of bitcoin are likely going to become reacquainted with it at various times - even when their level of information may be skewed by their own negative initial experiences.

Sure but only the loyal persons are rewarded.

Those that bought at 5$ and still holding, when price reaches 50,000$ they will be the new Elite.

And the rest of them are just opportunists or scammers that went for a quickie.

See my above post, too.   My point is that it is very difficult to hold coins when the market is going up and down.  Surely, some of the people at $5 are going to be doing really good, but they are likely tempted to sell on an ongoing basis.  They are tempted to sell part or all of their holdings, because until it happens, there is no certainty with bitcoin, and there is no certainty that bitcoin will even reach $500 ever again. 

I believe that those are some of the difficulties for real people.

[JayJuanGee]

But if they are here since 2011 they should have thousands of Bitcoin which means they would be pretty rich even after not selling at the peak last ATH... so why would they get mad an disappear? That's pretty dumb I think. If they keep holding they will just keep getting richer. Also they would be Legendary by now which in itself it's pretty valuable.

1) Many (most?) early large holdings have been dribbled away -- through dice, profit taking along the way, bad investments, or scams.

2) What the hell is valuable about Legendary status?

3) Atlas (OP, currently listed as Anonymous) is a special case - read back through the thread for the explanation.

Which one are you Jbreher?  Were you able to hang on to some of your early purchased coins?  Do you have thousands of coins, as some of the posters here assume? 

I believe that you are suggesting that your bitcoin holdings are much more modest than the assertion of "thousands."  I would suggest that if anyone from 2011 time period has more than 100 coins, then they are doing pretty well to have been able to hang onto some of their coins while possibly engaging in some of the practices that you described in your post.

[RealBitcoin]

See my above post, too.   My point is that it is very difficult to hold coins when the market is going up and down.  Surely, some of the people at $5 are going to be doing really good, but they are likely tempted to sell on an ongoing basis.  They are tempted to sell part or all of their holdings, because until it happens, there is no certainty with bitcoin, and there is no certainty that bitcoin will even reach $500 ever again. 

I believe that those are some of the difficulties for real people.

I held my coins for 11 months and I was down about -40%. Still holding them but now I`m up a few %.

I am not looking to sell them at all unless it goes really low. If you invest with money you can afford to lose then you wont sell at every FUD post.


Those that sell based on that are really opportunists that looked at bitcoin as a short term HYIP. My previous point still holds.

[JayJuanGee]

See my above post, too.   My point is that it is very difficult to hold coins when the market is going up and down.  Surely, some of the people at $5 are going to be doing really good, but they are likely tempted to sell on an ongoing basis.  They are tempted to sell part or all of their holdings, because until it happens, there is no certainty with bitcoin, and there is no certainty that bitcoin will even reach $500 ever again. 

I believe that those are some of the difficulties for real people.

I held my coins for 11 months and I was down about -40%. Still holding them but now I`m up a few %.

I am not looking to sell them at all unless it goes really low. If you invest with money you can afford to lose then you wont sell at every FUD post.


Those that sell based on that are really opportunists that looked at bitcoin as a short term HYIP. My previous point still holds.

I bought all the way down from $1,200-ish in November 2013, yet my intention was a form of dollar cost averaging, and really when I started buying, I did not expect BTC prices to go below $200 or even below $300 ever again. 

Anyhow, even though BTC price dips were somewhat beyond my expectations, I did not sell any coins on the way down to $160-ish, I only continued to buy, when I could and in a kind of hybrid-dollar cost averaging arrangement.

I had a little bit of cash flow issues in the first several months of 2015 (not directly related to bitcoin), and I was not able to buy too many bitcoins in the early part of 2015 (i did not sell any either), but I was able to buy quite a few coins through the subsequent parts of 2015, and accordingly, I felt comfortable to conceptually divide my BTC holdings into 4, and therefore, I could justify first beginning to sell some (small portions - like less than 1% of my holdings) after the price returned above $250. 

Now, I have a little bit of a hedge in my total BTC holdings on the way down and profits on the way up.  My BTC portfolio is not in the best arrangement for all scenarios (because my underlying assumption is that BTC prices will eventually go up), and I believe that my BTC holdings are in a much better place with a plan (that is somewhat tweaked from time to time), and I believe that I have a pretty decent plan to cash out little by little on the way up, while continuing to attempt to accumulate coins and to attempt to hold a vast majority of my coins, even while I am cashing out little by little as the prices should go up.

 

[Denker]

See my above post, too.   My point is that it is very difficult to hold coins when the market is going up and down.  Surely, some of the people at $5 are going to be doing really good, but they are likely tempted to sell on an ongoing basis.  They are tempted to sell part or all of their holdings, because until it happens, there is no certainty with bitcoin, and there is no certainty that bitcoin will even reach $500 ever again. 

I believe that those are some of the difficulties for real people.

I held my coins for 11 months and I was down about -40%. Still holding them but now I`m up a few %.

I am not looking to sell them at all unless it goes really low. If you invest with money you can afford to lose then you wont sell at every FUD post.


Those that sell based on that are really opportunists that looked at bitcoin as a short term HYIP. My previous point still holds.

That's what I'm always saying. If you really only invest that money what you don't need to care about, there is absolutely no reason to freak out when BTC's price tanks. Just sit it out.In the long run we will succeed and be glad that hodling was the right decision.

[Bitcoinpro]

[Fwdxlsh]

I do genuinely wonder if the black market will ever close. Not to say that it hasn't helped certain people live better, happier lives.

[RealBitcoin]

That's what I'm always saying. If you really only invest that money what you don't need to care about, there is absolutely no reason to freak out when BTC's price tanks. Just sit it out.In the long run we will succeed and be glad that hodling was the right decision.

Yea the higher the risk, the less capital should be invested.

Those that put all their life savings into btc at 500$, and the price went to 1100 and didnt sold, then went down below 300, they panicked and sold at 300$.

Now they are angry at bitcoin because they lost almost half of their savings. But they should be mad at themselves.

If they would just bought a little bit then it would not be big deal.


If you bought for 100$ when the price was 0.5$ , 200 BTC. You have no reason to sell, because the price can go up to 50,000$ and you will be amongst the elite.

[cohnhead]

That's what I'm always saying. If you really only invest that money what you don't need to care about, there is absolutely no reason to freak out when BTC's price tanks. Just sit it out.In the long run we will succeed and be glad that hodling was the right decision.

Yea the higher the risk, the less capital should be invested.

Those that put all their life savings into btc at 500$, and the price went to 1100 and didnt sold, then went down below 300, they panicked and sold at 300$.

Now they are angry at bitcoin because they lost almost half of their savings. But they should be mad at themselves.

If they would just bought a little bit then it would not be big deal.


If you bought for 100$ when the price was 0.5$ , 200 BTC. You have no reason to sell, because the price can go up to 50,000$ and you will be amongst the elite.

as one of the existing elite...didn't tim draper purchase 30000 bitcoins at auction for around $600 each. granted it was a miniscule part of his net worth and surely hes not panicking. I would think most who invest in bitcoin feel its a long term play and would not panic. Those who trade...it may be another story entirely. 

[RealBitcoin]

as one of the existing elite...didn't tim draper purchase 30000 bitcoins at auction for around $600 each. granted it was a miniscule part of his net worth and surely hes not panicking. I would think most who invest in bitcoin feel its a long term play and would not panic. Those who trade...it may be another story entirely. 

I actually think its good if you are a bit in a drawdown.

Why? Because then you will do anything to help bitcoin price rise. And actively involve yourself to build bitcoin.

If you are always in profit, you dont care about bitcoin anymore and you become a freeloader.

[jbreher]

Which one are you Jbreher?  Were you able to hang on to some of your early purchased coins?  Do you have thousands of coins, as some of the posters here assume? 

I believe that you are suggesting that your bitcoin holdings are much more modest than the assertion of "thousands." 

Haha. I wish. I once had amassed 'almost thousands'. But I learned a hard lesson about greed -- both that of my fellow man, and of my own -- in the pirate@40 / Trendon Shavers / BTCST debacle. I was utterly wiped out in that one.

I've been able to accumulate a few more coins since. Enough that, in the case I believe to be the 80% scenario (bitcoin eventually becomes ubiquitous), by the time I reach retirement age*, I'll be able to do so in grand style. Of course, in that scenario, even a single full bitcoin will be vast riches.

*any young pups out there might note that I am already as old as dirt.

[neurotypical]

Which one are you Jbreher?  Were you able to hang on to some of your early purchased coins?  Do you have thousands of coins, as some of the posters here assume? 

I believe that you are suggesting that your bitcoin holdings are much more modest than the assertion of "thousands." 

Haha. I wish. I once had amassed 'almost thousands'. But I learned a hard lesson about greed -- both that of my fellow man, and of my own -- in the pirate@40 / Trendon Shavers / BTCST debacle. I was utterly wiped out in that one.

I've been able to accumulate a few more coins since. Enough that, in the case I believe to be the 80% scenario (bitcoin eventually becomes ubiquitous), by the time I reach retirement age*, I'll be able to do so in grand style. Of course, in that scenario, even a single full bitcoin will be vast riches.

*any young pups out there might note that I am already as old as dirt.

Do you think that a 30 year old will be able to retire in 10 years with about 20 BTC? I cannot stand a single day at work, too much stress, I just need more free time, I cannot develop my hobbies, I suffer from anxiety, please help me BTC

[RaginglikeaBoss]

Which one are you Jbreher?  Were you able to hang on to some of your early purchased coins?  Do you have thousands of coins, as some of the posters here assume? 

I believe that you are suggesting that your bitcoin holdings are much more modest than the assertion of "thousands." 

Haha. I wish. I once had amassed 'almost thousands'. But I learned a hard lesson about greed -- both that of my fellow man, and of my own -- in the pirate@40 / Trendon Shavers / BTCST debacle. I was utterly wiped out in that one.

I've been able to accumulate a few more coins since. Enough that, in the case I believe to be the 80% scenario (bitcoin eventually becomes ubiquitous), by the time I reach retirement age*, I'll be able to do so in grand style. Of course, in that scenario, even a single full bitcoin will be vast riches.

*any young pups out there might note that I am already as old as dirt.

Do you think that a 30 year old will be able to retire in 10 years with about 20 BTC? I cannot stand a single day at work, too much stress, I just need more free time, I cannot develop my hobbies, I suffer from anxiety, please help me BTC

Perhaps a new job is in order rather than a miracle investment in a niche.

[jbreher]

Do you think that a 30 year old will be able to retire in 10 years with about 20 BTC?

Personally, I do think so. I understand that other minds -- even rational ones -- may have other opinions.

I cannot stand a single day at work, too much stress, I just need more free time, I cannot develop my hobbies, I suffer from anxiety, please help me BTC

Never hurts to have a Plan B. You might need to work on your foibles first.

[RealBitcoin]

Do you think that a 30 year old will be able to retire in 10 years with about 20 BTC? I cannot stand a single day at work, too much stress, I just need more free time, I cannot develop my hobbies, I suffer from anxiety, please help me BTC

How about you develope some bitcoin earning method.

Sitting on your BTC is just waste of time. Invest them or earn new BTC.

BTC could go up alot but not in the next 3-4 years.

[jbreher]

BTC could go up alot but not in the next 3-4 years.

Project back in time 3-4 years. Make that same statement at that time. Was just as logical then as it is now. But you would have missed that express elevator. Just like your current limited vision will have your future self kicking you for missing the next.