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

[arklan]

11.8 million at current prices... but yea.

which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|

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[botany]

11.8 million at current prices... but yea.
which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|

Thankfully, I found out about Bitcoin after the boom and bust of 2013.
I have not seen any heart-breaking busts, but no big booms either. If we break out of this current trading range, it will be something.

[dejavuboy]

All I care about is paying college loans. If this can do that, I will be a happy panda.

[Flanagan]

11.8 million at current prices... but yea.

which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|

I would have been happy if i had bought at the beginning of 2013 , when bitcoin was at 4$, instead of during the first ATH and downtrend...

[dooglus]

I would have been happy if i had bought at the beginning of 2013 , when bitcoin was at 4$, instead of during the first ATH and downtrend...

Why? The first ATH was less than $0.01. I would rather have bought then.

[Karartma1]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

[Elwar]

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

[BrewMaster]

.there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat.

watching the market sometimes, this what i love about it. early adopters, whales or whoever else dumps those large amounts at once, means a big chance for all the rest of the world to get more coins in their pockets.

in other words instead of one guy having 10,000BTC we can have a better spread and have 100 guys having 100BTC each. and there is a very limited supply available.

how much other people see this as opportunity is another discussion though.

[Ayers]

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

i agree with this, bitcoin can't rise as long as there are still around early adopters, bitcoin is now very high in value because many early adopters have sold their coins otherwise this can't be possible, i think in 2013 it was still not possible to hold that value because of this reason, it make sense now that the distribution is taking place slowly as the early adopters dump their huge amount of coins to the average people

[bitbob82]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

i think you have still good time to start mining again, because still there are a lot  of coins to be mined and you can really get a good profit from it. i myself want to start mining bit i also have no idea about it that how to start minting and what are their requirements.

[forzendiablo]

the OP was right!

ATH now... and only raising

[notbatman]

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

i agree with this, bitcoin can't rise as long as there are still around early adopters, bitcoin is now very high in value because many early adopters have sold their coins otherwise this can't be possible, i think in 2013 it was still not possible to hold that value because of this reason, it make sense now that the distribution is taking place slowly as the early adopters dump their huge amount of coins to the average people

I think you hit the nail on the head there; IMO the current spamming of the blockchain is the result of the bears having nothing but a can of salty mystery meat at their disposal.

[richardsNY]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

i think you have still good time to start mining again, because still there are a lot  of coins to be mined and you can really get a good profit from it. i myself want to start mining bit i also have no idea about it that how to start minting and what are their requirements.

Currently it's too much of a hassle to get yourself into mining Bitcoin with the constant increasing difficulty. Instead of investing money into mining gear, just put that money into Bitcoin and you will be able to generate far greater profits, and with a whole lot less hassle. Buying Bitcoin has always been the best option in recent years. Don't get yourself stuck into something you don't know anything about (mining).

[freebutcaged]

How this OP has a guest membership? anyways few years from now people believing in bitcoin will look back and see that they made a right move as still is early to join mining or just a simple holder.

[KennyR]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

It happens with most users. Currently everything is going good with bitcoin, as more and more users were getting into bitcoin usage. One thing very important is the people holding at least a single bitcoin is very low. More than 50% people using bitcoin don't have a single bitcoin. This stops them from being elite however the price goes high.

[angaper]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

It happens with most users. Currently everything is going good with bitcoin, as more and more users were getting into bitcoin usage. One thing very important is the people holding at least a single bitcoin is very low. More than 50% people using bitcoin don't have a single bitcoin. This stops them from being elite however the price goes high.

Yes, you are right. Most bitcoiners, and specially new adopters, could find very hard, even almost impossible to find in the current bitcoin price increase a real opportunity to gain huge money. The real gainers in the current bitcoin success are undoubtedly the early adopters. Congratulations to them.

[andrei56]

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

Good post with a lot of true info, but about the bolded part you meant deflationary right?, a depreciating currency is one that loses value by market forces, while a deflationary currency gains value as time passes, right?

[sportis]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

It happens with most users. Currently everything is going good with bitcoin, as more and more users were getting into bitcoin usage. One thing very important is the people holding at least a single bitcoin is very low. More than 50% people using bitcoin don't have a single bitcoin. This stops them from being elite however the price goes high.

The way I see it is somewhat different. I am convinced that nobody any strong currency is using will never be rich only holding this currency. The same imo with bitcoins applies. That means if anybody buy/sell things and services asking as payment bitcoin and some of these he holds as savings then ιt is very likely sometime to make his dreams come true. On the other side everybody believes that bitcoin will cross the sky in a very short period of time but does not support bitcoin then he will never be elite.

[Elwar]

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

Good post with a lot of true info, but about the bolded part you meant deflationary right?, a depreciating currency is one that loses value by market forces, while a deflationary currency gains value as time passes, right?

You're right. Deflationary.

[warwar]

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins 

It happens with most users. Currently everything is going good with bitcoin, as more and more users were getting into bitcoin usage. One thing very important is the people holding at least a single bitcoin is very low. More than 50% people using bitcoin don't have a single bitcoin. This stops them from being elite however the price goes high.

Yes, you are right. Most bitcoiners, and specially new adopters, could find very hard, even almost impossible to find in the current bitcoin price increase a real opportunity to gain huge money. The real gainers in the current bitcoin success are undoubtedly the early adopters. Congratulations to them.

I'd agree with your sort of the old adopters of bitcoin or it has been in bitcoin community is very lucky of earning bigger in bitcoins . Unlike new comers sort of the price is really high and they cant really invest on it unlike before the price is lower ., Though they can also be in bitcoin but most of the new is not into bitcoin because for them it is very difficult now