Too late to get rich?

[tvbcof]

You are lying to your self here.

I would advise you against getting back into Bitcoin, because you will probably get out at a loss as soon as BTC takes another dive.

You are either:

1. An "Enthusiast" that is in Bitcoin for what it is and will (hopefully) mean for the world, no matter what.
2. A Speculator that wants to make some cash with BTC and knows what he is doing.
3. A Sucker and you will get burned again and again until you run out of money to loose.

No offense, though.

Moot point, but...

I happened to be more of an enthusiast all through the trough (more like $2/BTC than $5) and felt like I was actually doing something important for the solution by mopping up liquidity (at a point when a single fairly normal person could realistically buy an hour's worth of BTC without to much trouble.)

Now I've turned into more of a speculator since I have less confidence that the solution will adapt to future challenges by moving in a direction which I find inspiring.  So thoughts of how to engineer a partial back-out which maximizes my take are consuming more of my thoughts these days.

Anyway, I was never completely of one particular mindset or another, and I am sure that there are a lot of others in the community who are similar.

[repentance]

You sound like you have a low risk tolerance but you're looking to "get rich" in a high risk environment.  Your 50 BTC would only be worth $3000 today had you held onto them.  Not "rich" by anyone's definition, even though it would have been a good return.  More importantly, even if Bitcoin rose to $1,000 by this time next year, you still wouldn't be "rich".  Would you have the nerve to hold those 50 BTC in the hope that they'd be worth half a million plus at some indeterminate future time (which still isn't "rich", but is an amount which allows fulfilment of some dreams which might otherwise be out of reach).?

An ASIC will bring you diminishing returns, just as your current hardware has.  It's not the path to riches - you'll need to keep spending more on hardware just to tread water. 

As MPOE-PR indicated, bringing something to the table is a good starting point.  If you don't have capital, then what is it that you can bring to the table.  You're not going to get rich passively, so what niche can you fill?

[instaBoost]

Never too late brother... Like many others stated before me, you have to stick with something you truly believe in especially when seeking a financial gain. What did you do during your hiatus? Try incorporating that in a new business plan. You obv have some knowledge in mining and setting all that stuff up. I would of payed someone like you to teach me even  . I'm sure you get were I'm going. Know your talent and then capitalize Won't happen over night though. Good luck

[Number6]

Well at $65 today you could have made $15-20 since your initial post. It is all relative, it is probably cheap even yet. With what's going on over in Europe (Cyprus) there is plenty of speculation that bitcoin may well reach $100 in short order. You could by 1000 bitcoins today for $65k and when/if it does reach $100, sell off 650 to recoup the 65k you put in and have essentially 350 free bitcoins to ride the wave higher.

Again, it all comes down to what you are comfortable with risking.

[cosmicboy]

There are countless examples of people jumping into something expecting to become rich and walking away with nothing. Here are a few recent well-known examples: gold and silver in 1980, day trading in the 1990's, the dot-com bubble, the housing bubble, and bitcoin in 2011.

Are you kidding? Tons of people got rich off of gold and silver, day trading, dotcom mania and housing (and now bitcoin!) The people that did not either did not get in early enough or made bad decisions.

cb

[lophie]

Get some Litecoins as Mt. Cox is going to start the exchange for them (Ride that bubble). Get some ASICMINER because the ticker will double before next year (Ride some of that bubble but keep some as ASICMINER is the deal here).

I am exactly like you. I even lost all coins I had prior to 2011 crash  (literally . I bounced back, Big time 

[Paul89273]

Get some Litecoins as Mt. Cox is going to start the exchange for them (Ride that bubble). Get some ASICMINER because the ticker will double before next year (Ride some of that bubble but keep some as ASICMINER is the deal here).

I am exactly like you. I even lost all coins I had prior to 2011 crash  (literally . I bounced back, Big time 

Only issue is we don't know when Mt Gox will launch Litecoins, they've been saying it for weeks now!

I still agree though, short term they are worth holding until Mt Gox start trading Litecoins

[smoothie]

Of course it's not too late to get rich: we're all early adopters even now. But, but, but... Bitcoin is not a get-rich-quick scheme. There are no guarantees of future profit. Bitcoin is a currency and payment system, is all.

Currency speculation can be a way to profit but it does have some risks. Then again, what doesn't?

Being entertained by other's drama and screw ups is risk-free. Just saying =)

[MikeMark]

I was a bitcoin early adopter and lost interest in bitcoin when it went from $30 down to $5. I feel idiotic for not scooping up BTC at that price.  I did some early mining with my 5970 and accumulated ~50BTC and stopped mining when difficulty increased. I'm back now and it seems like everyone is getting rich and I can't help but feel like I'm missing out on groundfloor opportunities. I figure I'd take a shot and see if anyone could share some tips or current service offerings that could put me back in the game. ASIC miners are sold out and quite frankly there's so much info on these boards that its a full time job just reading everything. I'm pool mining right now but netting like .05BTC every few days isn't enough. Perhaps this same mentality is what screwed me up last time and I dont want to make the same mistake again.

I've been an "IT" person all my life and I have no idea how I missed out on things like buying Google or Apple. Bitcoin seems to be my last chance. Any tips would be appreciated.

The mentality that may be wrong is the drive to "get rich."

What do you mean by "rich"?

Maybe you already are rich and you just need to take a good hard look at your assets to understand that. In this period of time, we live beyond the dreams of the kings and queens of even just two centuries ago.

Being or becoming rich isn't necessarily about how much value you can acquire. It really is about how much value you can provide to others.

If you want to "get rich" using BTCitcoin as your vehicle, look at the needs of the BTCitcoin community. Provide for one of the many needs. Make a profit doing what you do, while providing a profit or value to those who use what you are doing.

You will receive as you give. 

-MikeMark

PS:
The really nice thing about BTCitcoin is that you can create more value for others just by saving in BTCitcoin. What harm is it just putting $10.00 a week into BTCitcoin? Because BTCitcoin is a scarce commodity, you will be increasing the value of it. That small thing will provide a greater value for all who use BTCitcoin.

Consider this:
2 pizzas valued at approx $30.00 cost BTC15,000 just a short time ago. Your $10.00 at that time had the equivalent value of BTC5,000. At this time, because others saw the value in BTCitcoin and began using it, the BTC5,000 is now worth approx $500,000. The rate of adoption of BTCitcoin skyrocketed in late Jan 2013. It hasn't slowed down yet, and even at the current rate of adoption, it may be as many as 4-6 years before it really slows down. Most people still consider you to be crazy to have anything to do with BTCitcoin. There's a long way yet to go...

[Dapper]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

[freedomno1]

If you hold your ground through all the Panic you will come out on top in a year
For now I believe ASICminer is pretty safe to hold bitcoins in with Direct Purchase or Buying on an Exchange available
If you can't invest time provide the capital for projects instead with others who will take the time

Wait and OP left of course in March again well missed the boat then the boat sank a bit and will float back later  

[justusranvier]

Being or becoming rich isn't necessarily about how much value you can acquire. It really is about how much value you can provide to others.

If you want to "get rich" using BTCitcoin as your vehicle, look at the needs of the BTCitcoin community. Provide for one of the many needs. Make a profit doing what you do, while providing a profit or value to those who use what you are doing.

That's why I wrote this:

http://localbitcoins.blogspot.com/2013/06/this-is-first-in-series-of-posts.html

What people in the bitcoin community, especially the new and prospectives one, want are easy ways to buy Bitcoins.

[TheBanker]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

I think the equivalent is arbitrage.

I love your posting because that is the EXACT same analogy I use to explain it to friends that only know the basics of BTC. I'm not sitting here wondering what's going on or being a pussy (like the OP), I'm just doing it! BTC is exactly like the gold rush. Getting in doesn't mean you'll make money but sitting on the sidelines is not good either. So my "store" has been arbitrage and it's provided some very nice results for me . . . It's been a interesting phase in my life.

To the OP, sorry but you sound like a whiny bitch. You want to get rich only because others are too and you're "missing out". There is no reward without risk and you sound like you just don't like risk. You are destined to never make money.

[muasktak10]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

I think the equivalent is arbitrage.

I love your posting because that is the EXACT same analogy I use to explain it to friends that only know the basics of BTC. I'm not sitting here wondering what's going on or being a pussy (like the OP), I'm just doing it! BTC is exactly like the gold rush. Getting in doesn't mean you'll make money but sitting on the sidelines is not good either. So my "store" has been arbitrage and it's provided some very nice results for me . . . It's been a interesting phase in my life.

To the OP, sorry but you sound like a whiny bitch. You want to get rich only because others are too and you're "missing out". There is no reward without risk and you sound like you just don't like risk. You are destined to never make money.

Why are you so angry? Serious question.

[TheBanker]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

I think the equivalent is arbitrage.

I love your posting because that is the EXACT same analogy I use to explain it to friends that only know the basics of BTC. I'm not sitting here wondering what's going on or being a pussy (like the OP), I'm just doing it! BTC is exactly like the gold rush. Getting in doesn't mean you'll make money but sitting on the sidelines is not good either. So my "store" has been arbitrage and it's provided some very nice results for me . . . It's been a interesting phase in my life.

To the OP, sorry but you sound like a whiny bitch. You want to get rich only because others are too and you're "missing out". There is no reward without risk and you sound like you just don't like risk. You are destined to never make money.

Why are you so angry? Serious question.

My direct & no nonsense manner is often misunderstood as anger. I NEVER hold back, I'm honest in all my statements and most people don't know how to handle that because its rare in today's world. That comes off as anger to you because you have no other way of processing it.

[muasktak10]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

I think the equivalent is arbitrage.

I love your posting because that is the EXACT same analogy I use to explain it to friends that only know the basics of BTC. I'm not sitting here wondering what's going on or being a pussy (like the OP), I'm just doing it! BTC is exactly like the gold rush. Getting in doesn't mean you'll make money but sitting on the sidelines is not good either. So my "store" has been arbitrage and it's provided some very nice results for me . . . It's been a interesting phase in my life.

To the OP, sorry but you sound like a whiny bitch. You want to get rich only because others are too and you're "missing out". There is no reward without risk and you sound like you just don't like risk. You are destined to never make money.

Why are you so angry? Serious question.

My direct & no nonsense manner is often misunderstood as anger. I NEVER hold back, I'm honest in all my statements and most people don't know how to handle that because its rare in today's world. That comes off as anger to you because you have no other way of processing it.

No, I actually chose the word anger as to be as courteous as possible, which in hindsight you don't deserve this courtesy as it seems like you are living in your own world and you are the emperor of it. You have no right to attack this person this way who is simply asking for advice on trying to make a very tough decision on what he wants to do with his life, and the only thing you can do is put him down from his hopes and dreams of being rich? I find that highly suspect, and it goes back to my original point. Why are you so angry? To me it sounds like you are so enthralled with the prospects of being not only a power in your own mind, but a power in this new world when btc will supposedly be worth the same as gold, that you don't want people who have pure desires of attaining wealth like the OP, to chase their dreams, as you have already described the op is someone so undesirable(whiny,bitch,entitled(missing out),loser(never will make money)) they should stop pursuing their dreams of riches, you can't fathom the idea of this person being able to attain the same status as yourself if they get in on btc right now.

So i will say this OP, If you don't want people like this guy controlling you if the world economy turns to something like btc I highly suggest you take the leap.  I'm thinking about taking the leap for that same reason, there needs to be people like us with pure hearts in the game as well. I'm sure you fit that description OP, good luck to you.

[TheBanker]

The more conservative route to riches during a gold rush is to sell pick axes and jeans.... or whatever the tech equivalent of that is in this particular case.

 

I think the equivalent is arbitrage.

I love your posting because that is the EXACT same analogy I use to explain it to friends that only know the basics of BTC. I'm not sitting here wondering what's going on or being a pussy (like the OP), I'm just doing it! BTC is exactly like the gold rush. Getting in doesn't mean you'll make money but sitting on the sidelines is not good either. So my "store" has been arbitrage and it's provided some very nice results for me . . . It's been a interesting phase in my life.

To the OP, sorry but you sound like a whiny bitch. You want to get rich only because others are too and you're "missing out". There is no reward without risk and you sound like you just don't like risk. You are destined to never make money.

Why are you so angry? Serious question.

My direct & no nonsense manner is often misunderstood as anger. I NEVER hold back, I'm honest in all my statements and most people don't know how to handle that because its rare in today's world. That comes off as anger to you because you have no other way of processing it.

No, I actually chose the word anger as to be as courteous as possible, which in hindsight you don't deserve this courtesy as it seems like you are living in your own world and you are the emperor of it. You have no right to attack this person this way who is simply asking for advice on trying to make a very tough decision on what he wants to do with his life, and the only thing you can do is put him down from his hopes and dreams of being rich? I find that highly suspect, and it goes back to my original point. Why are you so angry? To me it sounds like you are so enthralled with the prospects of being not only a power in your own mind, but a power in this new world when btc will supposedly be worth the same as gold, that you don't want people who have pure desires of attaining wealth like the OP, to chase their dreams, as you have already described the op is someone so undesirable(whiny,bitch,entitled(missing out),loser(never will make money)) they should stop pursuing their dreams of riches, you can't fathom the idea of this person being able to attain the same status as yourself if they get in on btc right now.

So i will say this OP, If you don't want people like this guy controlling you if the world economy turns to something like btc I highly suggest you take the leap.  I'm thinking about taking the leap for that same reason, there needs to be people like us with pure hearts in the game as well. I'm sure you fit that description OP, good luck to you.

You can choose to believe whatever you want in your delusional mind. But "heart" is worthless in BTC, it's all about focus, conviction and strength, of which you (and the OP) clearly have neither. "The mind filled with doubt cannot focus on the road to victory!". You will never understand that statement because your "heart" will let you down every time. I dont have anything to prove to you (or anyone else) I've been involved with BTC for a while now and I've had a great run with it, no regrets and far from broke