The boat is long gone

[DeathAndTaxes]

Also, I like the sidenote that, if not bitcoin, then its successor will (probably) succeed.

I dont believe this. The most used wins no matter of the flaws it has, look at Microsoft Operation Systems.

Yup MySpace was at one time the most used and thus always ...

The prior post is correct.  Bitcoin may be "good enough" (ebay) and thus the network effect will be powerful enough to resist technically superior future (none of alt-coins to date) competitors.  On the other hand Cryptocurrency as a concept is larger than just Bitcoin and it may turn out that Bitcoin wasn't "good enough" (MySpace) and its network effect will fold to a VASTLY superior competitor.

[Rival]

Also, I like the sidenote that, if not bitcoin, then its successor will (probably) succeed.

I dont believe this. The most used wins no matter of the flaws it has, look at Microsoft Operation Systems.

Yup MySpace was at one time the most used and thus always ...

The prior post is correct.  Bitcoin may be "good enough" (ebay) and thus the network effect will be powerful enough to resist technically superior future (none of alt-coins to date) competitors.  On the other hand Cryptocurrency as a concept is larger than just Bitcoin and it may turn out that Bitcoin wasn't "good enough" (MySpace) and its network effect will fold to a VASTLY superior competitor.

I would tend to think that if bitcoin achieves a reasonable (no telling what "reasonable" really means) market penetration that it would likely remain entrenched unless the something that comes along is vastly superior, or at least superior enough to induce retooling the entire existing infrastructure to accommodate a transition. Each day that the bitcoin infrastructure grows (in terms of adoption, services, acceptance, and even hardware) if becomes less likely that a successor can make headway. We may already be beyond that point unless the successor makes bitcoin completely obsolete for just about everything it does.

This is me pretty much agreeing with you.

[fleabag]

YES I LOVE BEING DUMB LETS SEE HOW SMART YOU ARE. ANSWER THIS QUESTION SMART ASS

Tell me an INVESTMENT past or present(NOT A STOCK) that costs $200-$5000 that anyone could have bought and then went on to become a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200-$5000 investment.

Don't know. What's the answer?


Lucky only a microscopic percentage of the world knows about Bitcoin. Best hop onboard. You don't wanna miss that boat...

An education.

PLEASE do tell me where I can get a $200-$5000 education that employers wouldn't laugh at.

you just got on here to say that? you have 2 posts go fuck off!

[GreekGeek]

The boat comes back to shore once in a while to pick up passengers.

+1

[tonto]

I purposely missed the boat, because I was never sure if the boat was going to sink or float.  I typically held on to them long enough to buy what I wanted at the time.
 
But I'm a small fish, I've gone through (net) approx 350btc during my time here.  I have 5 left.   But what I *did* get was to turn those btc into tangible things (essentially what money does) that my wife would never let me purchase with "real money." 
 
So am I sad?  A little, but not enough to jump off a building or anything, 'cause I some sweet guns and gun accessories, all of which would have been nixed from the get-go if I had used "real" money (her words).

I'm still mining, albeit really slowly. 

[Soju Boy]

YES I LOVE BEING DUMB LETS SEE HOW SMART YOU ARE. ANSWER THIS QUESTION SMART ASS

Tell me an INVESTMENT past or present(NOT A STOCK) that costs $200-$5000 that anyone could have bought and then went on to become a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200-$5000 investment.

Don't know. What's the answer?


Lucky only a microscopic percentage of the world knows about Bitcoin. Best hop onboard. You don't wanna miss that boat...

An education.

PLEASE do tell me where I can get a $200-$5000 education that employers wouldn't laugh at.

you just got on here to say that? you have 2 posts go fuck off!

Need posts to contribute to a discussion; need to contribute to a discussion to post. Genuinely, I'm new to this forum so if there's a specific way most people navigate this Catch-22 please point me to that direction.

[adpinbr]

YES I LOVE BEING DUMB LETS SEE HOW SMART YOU ARE. ANSWER THIS QUESTION SMART ASS

Tell me an INVESTMENT past or present(NOT A STOCK) that costs $200-$5000 that anyone could have bought and then went on to become a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200-$5000 investment.

Don't know. What's the answer?


Lucky only a microscopic percentage of the world knows about Bitcoin. Best hop onboard. You don't wanna miss that boat...

An education.

PLEASE do tell me where I can get a $200-$5000 education that employers wouldn't laugh at.

you just got on here to say that? you have 2 posts go fuck off!

Need posts to contribute to a discussion; need to contribute to a discussion to post. Genuinely, I'm new to this forum so if there's a specific way most people navigate this Catch-22 please point me to that direction.

Yea its not like he is the oldest of the bunch either.....hence the nobbynoob questions

[sgbett]

The only people on here that have any chance at making REAL money are the first miners who basically got their coins for pennies. They know who they are and they are smart. They are the ones pimping and hyping the shit out of bitcoins. I have been rebuffed for used stocks as an example but it applies to bitcoins. The people who have gotten in on the big companies and made their millions and millions are the ones who got in for next to nothing. Coke, microsoft, apple etc the list goes on. Do you think an ordinary joe is going to get rich on Apple stock now? They missed the boat. Opportunities come around few times in a persons life and right now at $200 the boat is gone. even at $100 or $50 the boat is GONE! UNLESS you have a ton of money to begin with and my point is then mute. Can you imagine having 10000 bitcoins and you paid $100 in electricity to get them? Now you have people scraping $1000 together to buy 5 coins. Do you see what I mean?

Now I have a question for the naysayers. Tell me an investment past or present(not a stock) that costs $200 or less that anyone could buy that made that person a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200 investment.

Nonsense.

I got in under a dollar. With $100 that I couldn't well afford at the time, on what looked like some ridiculous hair brained scheme. I rued the fact that I had seen it 6 months earlier and tried to set up a miner at that time but had been distracted.

At the time I bought in, for me the small possibility of making money, was far outweighed by the crazy percentage returns that started to become available to me (and improvement in my cash-flow, $100 was still a lot at that time. Business was struggling. I could barely pay the bills) as it first hit ~$6 then ~$9 then ~$15.

You simply cannot hold. If you are as old and wise as you say you are then you know those kind of returns absolutely compel you to take profits. History is replete with examples of people holding too long and losing it all. I've gambled in my time, I know all about that.

I watched in horror as it continued to rise through the 20s, but still that money was in my pocket. I was vindicated when it crashed hard from the 30s.

Then comes the dilemma, buy in or not, where is the bottom, how much can i really afford to risk, am I just going to lose everything I made.

I got back in tentatively in the teens, then a bit more in the single digits. Worried that everything I bought now might just end up as dead money. The bottom came in though, but at the time you don't know that, so many of my low bids were mostly missed as the price turned the corner.

As the price starts to rise your feel the relief that your underwater positions are starting to recover, but also start to regret how much you didn't buy when the price was 20% lower, and wrangle with yourself as to how much more to risk.

Time went by and I ended up with more then ten times my original outlay invested, but still only around 100 coins. I was a bit better off, but $1000 was a shit load of money to be effectively gambling with. It started to grow though, $2k then $3k this was insane amounts of money for me. I lost several hundred dollars in bitcoinica, but I was still up.

Was I to just hold. I had more money invested in bitcoin than I earned in a month! Why you would be insane not to take some profits. I did, several times, all the way up into the $200s (I was lucky enough to sell a few at $220 before the high at $266). Again I had that sinking feeling, everytime I sold the price kept rising. Thousands of dollars of potential profit up in smoke.

Still, I had money in my back pocket again. Then the price cashed, and I was vindicated.

But whats this, it stayed well above the previous all time high, I wasn't going to be buying back in (in some cases for more than I sold some of my coin). That just didn't make sense.

With hindsight of course, it would have made perfect sense

Now I'm in a situation where my BTC may soon be worth more than I have invested in everything else cumulatively (not including house). Yet my dollar cost average position is negative.

The pressure to cash out is insane. This is real serious amounts of money now. Not quite life changing, but certainly life-easing for the short term!

Suggesting someone (to whom $200 means something) can sit and watch that $200 investment turn into $1million, and at no point sell. Thats what's ridiculous.

And here I am trying to just that though

I have credit card debt with double digit APR, and I aint paying it off. I have a mortgage that is going to cost me double what I borrowed over its lifetime, and I ain't paying it off.

If I didn't believe that a $200 investment could make me a millionaire, you really think I'd be risking 5 figures on the ultimate meal ticket?

If I lose it all, then I will have plenty egg on my face for sure, but profit you never took was never profit in the first place, so I lost nothing. The profit I have taken, is actual profit.

So buy your $200 bitcoin, and thank me in ten years when you are a millionaire (not adjusted for inflation hehe). Provided you had the balls not to sell a single satoshi on the way...

[adpinbr]

The only people on here that have any chance at making REAL money are the first miners who basically got their coins for pennies. They know who they are and they are smart. They are the ones pimping and hyping the shit out of bitcoins. I have been rebuffed for used stocks as an example but it applies to bitcoins. The people who have gotten in on the big companies and made their millions and millions are the ones who got in for next to nothing. Coke, microsoft, apple etc the list goes on. Do you think an ordinary joe is going to get rich on Apple stock now? They missed the boat. Opportunities come around few times in a persons life and right now at $200 the boat is gone. even at $100 or $50 the boat is GONE! UNLESS you have a ton of money to begin with and my point is then mute. Can you imagine having 10000 bitcoins and you paid $100 in electricity to get them? Now you have people scraping $1000 together to buy 5 coins. Do you see what I mean?

Now I have a question for the naysayers. Tell me an investment past or present(not a stock) that costs $200 or less that anyone could buy that made that person a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200 investment.

Nonsense.

I got in under a dollar. With $100 that I couldn't well afford at the time, on what looked like some ridiculous hair brained scheme. I rued the fact that I had seen it 6 months earlier and tried to set up a miner at that time but had been distracted.

At the time I bought in, for me the small possibility of making money, was far outweighed by the crazy percentage returns that started to become available to me (and improvement in my cash-flow, $100 was still a lot at that time. Business was struggling. I could barely pay the bills) as it first hit ~$6 then ~$9 then ~$15.

You simply cannot hold. If you are as old and wise as you say you are then you know those kind of returns absolutely compel you to take profits. History is replete with examples of people holding too long and losing it all. I've gambled in my time, I know all about that.

I watched in horror as it continued to rise through the 20s, but still that money was in my pocket. I was vindicated when it crashed hard from the 30s.

Then comes the dilemma, buy in or not, where is the bottom, how much can i really afford to risk, am I just going to lose everything I made.

I got back in tentatively in the teens, then a bit more in the single digits. Worried that everything I bought now might just end up as dead money. The bottom came in though, but at the time you don't know that, so many of my low bids were mostly missed as the price turned the corner.

As the price starts to rise your feel the relief that your underwater positions are starting to recover, but also start to regret how much you didn't buy when the price was 20% lower, and wrangle with yourself as to how much more to risk.

Time went by and I ended up with more then ten times my original outlay invested, but still only around 100 coins. I was a bit better off, but $1000 was a shit load of money to be effectively gambling with. It started to grow though, $2k then $3k this was insane amounts of money for me. I lost several hundred dollars in bitcoinica, but I was still up.

Was I to just hold. I had more money invested in bitcoin than I earned in a month! Why you would be insane not to take some profits. I did, several times, all the way up into the $200s (I was lucky enough to sell a few at $220 before the high at $266). Again I had that sinking feeling, everytime I sold the price kept rising. Thousands of dollars of potential profit up in smoke.

Still, I had money in my back pocket again. Then the price cashed, and I was vindicated.

But whats this, it stayed well above the previous all time high, I wasn't going to be buying back in (in some cases for more than I sold some of my coin). That just didn't make sense.

With hindsight of course, it would have made perfect sense

Now I'm in a situation where my BTC may soon be worth more than I have invested in everything else cumulatively (not including house). Yet my dollar cost average position is negative.

The pressure to cash out is insane. This is real serious amounts of money now. Not quite life changing, but certainly life-easing for the short term!

Suggesting someone (to whom $200 means something) can sit and watch that $200 investment turn into $1million, and at no point sell. Thats what's ridiculous.

And here I am trying to just that though

I have credit card debt with double digit APR, and I aint paying it off. I have a mortgage that is going to cost me double what I borrowed over its lifetime, and I ain't paying it off.

If I didn't believe that a $200 investment could make me a millionaire, you really think I'd be risking 5 figures on the ultimate meal ticket?

If I lose it all, then I will have plenty egg on my face for sure, but profit you never took was never profit in the first place, so I lost nothing. The profit I have taken, is actual profit.

So buy your $200 bitcoin, and thank me in ten years when you are a millionaire (not adjusted for inflation hehe). Provided you had the balls not to sell a single satoshi on the way...

+1

[adpinbr]

There are so many stories of people who sold out thousands when it hit a dollar, thousands more when it hit 10....its hard to see the big picture...my adivice...understand what it is, what you think its worth and hold on tight...5 digits

[Tirapon]

The only people on here that have any chance at making REAL money are the first miners who basically got their coins for pennies. They know who they are and they are smart. They are the ones pimping and hyping the shit out of bitcoins. I have been rebuffed for used stocks as an example but it applies to bitcoins. The people who have gotten in on the big companies and made their millions and millions are the ones who got in for next to nothing. Coke, microsoft, apple etc the list goes on. Do you think an ordinary joe is going to get rich on Apple stock now? They missed the boat. Opportunities come around few times in a persons life and right now at $200 the boat is gone. even at $100 or $50 the boat is GONE! UNLESS you have a ton of money to begin with and my point is then mute. Can you imagine having 10000 bitcoins and you paid $100 in electricity to get them? Now you have people scraping $1000 together to buy 5 coins. Do you see what I mean?

Now I have a question for the naysayers. Tell me an investment past or present(not a stock) that costs $200 or less that anyone could buy that made that person a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200 investment.

Nonsense.

I got in under a dollar. With $100 that I couldn't well afford at the time, on what looked like some ridiculous hair brained scheme. I rued the fact that I had seen it 6 months earlier and tried to set up a miner at that time but had been distracted.

At the time I bought in, for me the small possibility of making money, was far outweighed by the crazy percentage returns that started to become available to me (and improvement in my cash-flow, $100 was still a lot at that time. Business was struggling. I could barely pay the bills) as it first hit ~$6 then ~$9 then ~$15.

You simply cannot hold. If you are as old and wise as you say you are then you know those kind of returns absolutely compel you to take profits. History is replete with examples of people holding too long and losing it all. I've gambled in my time, I know all about that.

I watched in horror as it continued to rise through the 20s, but still that money was in my pocket. I was vindicated when it crashed hard from the 30s.

Then comes the dilemma, buy in or not, where is the bottom, how much can i really afford to risk, am I just going to lose everything I made.

I got back in tentatively in the teens, then a bit more in the single digits. Worried that everything I bought now might just end up as dead money. The bottom came in though, but at the time you don't know that, so many of my low bids were mostly missed as the price turned the corner.

As the price starts to rise your feel the relief that your underwater positions are starting to recover, but also start to regret how much you didn't buy when the price was 20% lower, and wrangle with yourself as to how much more to risk.

Time went by and I ended up with more then ten times my original outlay invested, but still only around 100 coins. I was a bit better off, but $1000 was a shit load of money to be effectively gambling with. It started to grow though, $2k then $3k this was insane amounts of money for me. I lost several hundred dollars in bitcoinica, but I was still up.

Was I to just hold. I had more money invested in bitcoin than I earned in a month! Why you would be insane not to take some profits. I did, several times, all the way up into the $200s (I was lucky enough to sell a few at $220 before the high at $266). Again I had that sinking feeling, everytime I sold the price kept rising. Thousands of dollars of potential profit up in smoke.

Still, I had money in my back pocket again. Then the price cashed, and I was vindicated.

But whats this, it stayed well above the previous all time high, I wasn't going to be buying back in (in some cases for more than I sold some of my coin). That just didn't make sense.

With hindsight of course, it would have made perfect sense

Now I'm in a situation where my BTC may soon be worth more than I have invested in everything else cumulatively (not including house). Yet my dollar cost average position is negative.

The pressure to cash out is insane. This is real serious amounts of money now. Not quite life changing, but certainly life-easing for the short term!

Suggesting someone (to whom $200 means something) can sit and watch that $200 investment turn into $1million, and at no point sell. Thats what's ridiculous.

And here I am trying to just that though

I have credit card debt with double digit APR, and I aint paying it off. I have a mortgage that is going to cost me double what I borrowed over its lifetime, and I ain't paying it off.

If I didn't believe that a $200 investment could make me a millionaire, you really think I'd be risking 5 figures on the ultimate meal ticket?

If I lose it all, then I will have plenty egg on my face for sure, but profit you never took was never profit in the first place, so I lost nothing. The profit I have taken, is actual profit.

So buy your $200 bitcoin, and thank me in ten years when you are a millionaire (not adjusted for inflation hehe). Provided you had the balls not to sell a single satoshi on the way...

Cool story bro...


No seriously, thanks for sharing - I hope this helps others to see the bigger picture.

[Soju Boy]

The only people on here that have any chance at making REAL money are the first miners who basically got their coins for pennies. They know who they are and they are smart. They are the ones pimping and hyping the shit out of bitcoins. I have been rebuffed for used stocks as an example but it applies to bitcoins. The people who have gotten in on the big companies and made their millions and millions are the ones who got in for next to nothing. Coke, microsoft, apple etc the list goes on. Do you think an ordinary joe is going to get rich on Apple stock now? They missed the boat. Opportunities come around few times in a persons life and right now at $200 the boat is gone. even at $100 or $50 the boat is GONE! UNLESS you have a ton of money to begin with and my point is then mute. Can you imagine having 10000 bitcoins and you paid $100 in electricity to get them? Now you have people scraping $1000 together to buy 5 coins. Do you see what I mean?

Now I have a question for the naysayers. Tell me an investment past or present(not a stock) that costs $200 or less that anyone could buy that made that person a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200 investment.

Nonsense.

I got in under a dollar. With $100 that I couldn't well afford at the time, on what looked like some ridiculous hair brained scheme. I rued the fact that I had seen it 6 months earlier and tried to set up a miner at that time but had been distracted.

At the time I bought in, for me the small possibility of making money, was far outweighed by the crazy percentage returns that started to become available to me (and improvement in my cash-flow, $100 was still a lot at that time. Business was struggling. I could barely pay the bills) as it first hit ~$6 then ~$9 then ~$15.

You simply cannot hold. If you are as old and wise as you say you are then you know those kind of returns absolutely compel you to take profits. History is replete with examples of people holding too long and losing it all. I've gambled in my time, I know all about that.

I watched in horror as it continued to rise through the 20s, but still that money was in my pocket. I was vindicated when it crashed hard from the 30s.

Then comes the dilemma, buy in or not, where is the bottom, how much can i really afford to risk, am I just going to lose everything I made.

I got back in tentatively in the teens, then a bit more in the single digits. Worried that everything I bought now might just end up as dead money. The bottom came in though, but at the time you don't know that, so many of my low bids were mostly missed as the price turned the corner.

As the price starts to rise your feel the relief that your underwater positions are starting to recover, but also start to regret how much you didn't buy when the price was 20% lower, and wrangle with yourself as to how much more to risk.

Time went by and I ended up with more then ten times my original outlay invested, but still only around 100 coins. I was a bit better off, but $1000 was a shit load of money to be effectively gambling with. It started to grow though, $2k then $3k this was insane amounts of money for me. I lost several hundred dollars in bitcoinica, but I was still up.

Was I to just hold. I had more money invested in bitcoin than I earned in a month! Why you would be insane not to take some profits. I did, several times, all the way up into the $200s (I was lucky enough to sell a few at $220 before the high at $266). Again I had that sinking feeling, everytime I sold the price kept rising. Thousands of dollars of potential profit up in smoke.

Still, I had money in my back pocket again. Then the price cashed, and I was vindicated.

But whats this, it stayed well above the previous all time high, I wasn't going to be buying back in (in some cases for more than I sold some of my coin). That just didn't make sense.

With hindsight of course, it would have made perfect sense

Now I'm in a situation where my BTC may soon be worth more than I have invested in everything else cumulatively (not including house). Yet my dollar cost average position is negative.

The pressure to cash out is insane. This is real serious amounts of money now. Not quite life changing, but certainly life-easing for the short term!

Suggesting someone (to whom $200 means something) can sit and watch that $200 investment turn into $1million, and at no point sell. Thats what's ridiculous.

And here I am trying to just that though

I have credit card debt with double digit APR, and I aint paying it off. I have a mortgage that is going to cost me double what I borrowed over its lifetime, and I ain't paying it off.

If I didn't believe that a $200 investment could make me a millionaire, you really think I'd be risking 5 figures on the ultimate meal ticket?

If I lose it all, then I will have plenty egg on my face for sure, but profit you never took was never profit in the first place, so I lost nothing. The profit I have taken, is actual profit.

So buy your $200 bitcoin, and thank me in ten years when you are a millionaire (not adjusted for inflation hehe). Provided you had the balls not to sell a single satoshi on the way...

Making absolutely no judgment on whether you are right or not (although my current BTC holdings certainly does), I just wanted to say it's incredibly refreshing to see someone actually put a serious amount of money where his mouth is. This is more commitment than just a hopeful gamble; it's brave but informed, and I think it's the type of passion that will help drive the long-term value of bitcoin.

[BitChick]

SGbett:

Yes.  Buy a $200 coin and thank you later if you can hold it that long.   My advice to anyone thinking of selling off some coin is to keep at least one just in case.  You just never know how high this will go.

[sgbett]

...snip...
Need posts to contribute to a discussion; need to contribute to a discussion to post. Genuinely, I'm new to this forum so if there's a specific way most people navigate this Catch-22 please point me to that direction.

You're doing nothing wrong. I think fleabag is just on his period

Come now fleabag. Don't pick on the newbies, post count is hardly the measure of a mans worth...

[DoomDumas]

Come on people you are missing the point. Tell me some success stories of investments where people made a ton of money and the idea was already set in motion? AFTER THE FACT!  You people now missed the boat and the REAL money is long gone. Give me an example of an investment that proves my point wrong. I am not denying the fact that there is money to be made yet. All I am saying is that very rarely are you going to get rich on something that has already happened.

Am I wrong or those IBM, MSFT, APPL took few decades to make invetors rich ?  BTC did that in less than 4 years, for those who knew it exist, AND had the balls to invest in mining/buying.

OP, did you had the balls to put 10k$ in GOOG 10 years ago, it would have a 100k$ value today.

I invested almost as much in mining, but like a majority of early miners, when I got positive ROI I begun to sell, I've made some small profit, like 2 to 3 times my investment and it was fine.  Then I came to understand the true power behind BTC, and began to buy BTC, at 15, 20, 30, 50, 80, 100, 150, and im still a buyer.  I'll never posess as many BTC I've mined in the past, and it's ok.

No one ever buy at the bottom and sell at top.

I've learned 1 things in investment, well before BTC, never regret an investment decision, assume it and go on !

BTW, imo, 1 BTC will worth so many valuless dollar within a decade, I'll be way better as a BTC owner than a fiat millionnaire !

[PrintMule]

Come on people you are missing the point. Tell me some success stories of investments where people made a ton of money and the idea was already set in motion? AFTER THE FACT!  You people now missed the boat and the REAL money is long gone. Give me an example of an investment that proves my point wrong. I am not denying the fact that there is money to be made yet. All I am saying is that very rarely are you going to get rich on something that has already happened.

Am I wrong or those IBM, MSFT, APPL took few decades to make invetors rich ?  BTC did that in less than 4 years, for those who knew it exist, AND had the balls to invest in mining/buying.

OP, did you had the balls to put 10k$ in GOOG 10 years ago, it would have a 100k$ value today.

I invested almost as much in mining, but like a majority of early miners, when I got positive ROI I begun to sell, I've made some small profit, like 2 to 3 times my investment and it was fine.  Then I came to understand the true power behind BTC, and began to buy BTC, at 15, 20, 30, 50, 80, 100, 150, and im still a buyer.  I'll never posess as many BTC I've mined in the past, and it's ok.

No one ever buy at the bottom and sell at top.

I've learned 1 things in investment, well before BTC, never regret an investment decision, assume it and go on !

BTW, imo, 1 BTC will worth so many valuless dollar within a decade, I'll be way better as a BTC owner than a fiat millionnaire !

there is otherfiat and commodities except USD, you know... I would prefer to be a fiat 'millionnaire' any day

[wasserman99]

The boat comes back to shore once in a while to pick up passengers.

+1

 

i panic sold and insta set orders in 150s and was amazed they executed! success! got lucky there.

[fleabag]

The only people on here that have any chance at making REAL money are the first miners who basically got their coins for pennies. They know who they are and they are smart. They are the ones pimping and hyping the shit out of bitcoins. I have been rebuffed for used stocks as an example but it applies to bitcoins. The people who have gotten in on the big companies and made their millions and millions are the ones who got in for next to nothing. Coke, microsoft, apple etc the list goes on. Do you think an ordinary joe is going to get rich on Apple stock now? They missed the boat. Opportunities come around few times in a persons life and right now at $200 the boat is gone. even at $100 or $50 the boat is GONE! UNLESS you have a ton of money to begin with and my point is then mute. Can you imagine having 10000 bitcoins and you paid $100 in electricity to get them? Now you have people scraping $1000 together to buy 5 coins. Do you see what I mean?

Now I have a question for the naysayers. Tell me an investment past or present(not a stock) that costs $200 or less that anyone could buy that made that person a millionaire. The only caveat is that the investment had/has to be a fully disseminated idea that the world knows/knew about. So in other words the person got in AFTER THE FACT and made millions off of a $200 investment.

Nonsense.

I got in under a dollar. With $100 that I couldn't well afford at the time, on what looked like some ridiculous hair brained scheme. I rued the fact that I had seen it 6 months earlier and tried to set up a miner at that time but had been distracted.

At the time I bought in, for me the small possibility of making money, was far outweighed by the crazy percentage returns that started to become available to me (and improvement in my cash-flow, $100 was still a lot at that time. Business was struggling. I could barely pay the bills) as it first hit ~$6 then ~$9 then ~$15.

You simply cannot hold. If you are as old and wise as you say you are then you know those kind of returns absolutely compel you to take profits. History is replete with examples of people holding too long and losing it all. I've gambled in my time, I know all about that.

I watched in horror as it continued to rise through the 20s, but still that money was in my pocket. I was vindicated when it crashed hard from the 30s.

Then comes the dilemma, buy in or not, where is the bottom, how much can i really afford to risk, am I just going to lose everything I made.

I got back in tentatively in the teens, then a bit more in the single digits. Worried that everything I bought now might just end up as dead money. The bottom came in though, but at the time you don't know that, so many of my low bids were mostly missed as the price turned the corner.

As the price starts to rise your feel the relief that your underwater positions are starting to recover, but also start to regret how much you didn't buy when the price was 20% lower, and wrangle with yourself as to how much more to risk.

Time went by and I ended up with more then ten times my original outlay invested, but still only around 100 coins. I was a bit better off, but $1000 was a shit load of money to be effectively gambling with. It started to grow though, $2k then $3k this was insane amounts of money for me. I lost several hundred dollars in bitcoinica, but I was still up.

Was I to just hold. I had more money invested in bitcoin than I earned in a month! Why you would be insane not to take some profits. I did, several times, all the way up into the $200s (I was lucky enough to sell a few at $220 before the high at $266). Again I had that sinking feeling, everytime I sold the price kept rising. Thousands of dollars of potential profit up in smoke.

Still, I had money in my back pocket again. Then the price cashed, and I was vindicated.

But whats this, it stayed well above the previous all time high, I wasn't going to be buying back in (in some cases for more than I sold some of my coin). That just didn't make sense.

With hindsight of course, it would have made perfect sense

Now I'm in a situation where my BTC may soon be worth more than I have invested in everything else cumulatively (not including house). Yet my dollar cost average position is negative.

The pressure to cash out is insane. This is real serious amounts of money now. Not quite life changing, but certainly life-easing for the short term!

Suggesting someone (to whom $200 means something) can sit and watch that $200 investment turn into $1million, and at no point sell. Thats what's ridiculous.

And here I am trying to just that though

I have credit card debt with double digit APR, and I aint paying it off. I have a mortgage that is going to cost me double what I borrowed over its lifetime, and I ain't paying it off.

If I didn't believe that a $200 investment could make me a millionaire, you really think I'd be risking 5 figures on the ultimate meal ticket?

If I lose it all, then I will have plenty egg on my face for sure, but profit you never took was never profit in the first place, so I lost nothing. The profit I have taken, is actual profit.

So buy your $200 bitcoin, and thank me in ten years when you are a millionaire (not adjusted for inflation hehe). Provided you had the balls not to sell a single satoshi on the way...

dude I like you. I can tell you are legit. you are a very smart investor and I like your honesty. thank you for sharing your story.

[bitleif]

The whole premise of this thread is moronic.

OF COURSE you've "missed" the boat if you didn't get in at $0.1 or whatever. For whatever gains we get from here, the early birds will get the same gains PLUS what they have already, so they will always be ahead of you. Unless we fall all the way back to <$1 then it's impossible not to have "missed" that boat.

Who cares? I believe bitcoin is still a good investment. There's risk of loss, but also risk of significant gains from here. It's not a sure thing, but it wasn't back then either.

(Will forever be kicking myself for not buying more in July at $60)

[fleabag]

The whole premise of this thread is moronic.

OF COURSE you've "missed" the boat if you didn't get in at $0.1 or whatever. For whatever gains we get from here, the early birds will get the same gains PLUS what they have already, so they will always be ahead of you. Unless we fall all the way back to <$1 then it's impossible not to have "missed" that boat.

Who cares? I believe bitcoin is still a good investment. There's risk of loss, but also risk of significant gains from here. It's not a sure thing, but it wasn't back then either.

(Will forever be kicking myself for not buying more in July at $60)

This thread is not moronic. Why doesnt anyone listen? There IS money to be made PERIOD! What I am saying is that is where there is easy money to be made you get more and more people fighting over every damn dollar. Ever see a great invention or idea get replicated by fifty different companies? They total saturate the marketplace fighting the others for the same dollar right? Who wins in the end? The biggest player or the one with the most money or best lawyers etc. Same thing for bitcoins you have people who have more money, resources, information etc and have a better chance to make money than your computer geek buying his coins with his allowance. You are chasing the same dollar as the rich people. Bottom line People with more money have an advantage. The winklevoss twins have money right. and seeing they had money they could have directly bought their coins right from mt gox at a discount, not at the price you and I could buy it for but THEIR price because they have the money. So what I am saying is that unless you were in from the beginnings and have held throughout all the ups and downs YOU MADE THE BOAT! People buying at $50, 60 $100 etc are chasing the boat because you are vying for the same dollar that the rich people are trying to get.