Early BTC adopters still hodling?

[secianced]

I think around 90% of early investors sold or forgot about bitcoin, or lost access to their bitcoin for sure.

[renes]

I think not many people hold it for years with full belief, when it was $100, $200 btc was very valuable and high, and now just like that. I don't think there are a lot of true hodlers.

[dadanpradana]

1. How long does it take for the transaction to be confirmed?
I always send my Bitcoin from the local Exchange to bitrex around 0.1 Bitcoin and it needs confirmation about 10 minutes, if I send more than 0.1 I have never.

2. What other problems are experienced apart from hardware complications and energy needs?
the electricity supply must be stable, don't get too much electricity so as not to make damage to your mining hardware.

[kamBlanV]

I think the time needed depends on how fast when the miner finds a valid block.

there is no other problem except the ware of minim device, and large electricity usage. I think ASIC will be the solution for every problem.

[r32godzilla]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Transactions were more faster and got confirmed within minutes as there was no congestion in the network.

Another big issue was that Chinese dominated the bitcoin market and they manipulated the price easily as they wished.We all would keenly watch China's bitcoin market before taking any decisions of buying and selling bitcoins.They had such a huge influence over the bitcoin market.

[jayveerastrullo]

I have a friend that bought bitcoin recently. He bought bitcoin around 6k. So I told him to just hodl it, if he see that the price suddenly increased 1k it is just normal. The best time to sell if it really happen is when you double your capital.

[groko271]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

[dimbaba]

There have been spikes where a large number of people are sending Bitcoins at one time where transactions may be slow, but it doesn't seem like it will be a major problem over the coming years.

[olumyd]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?

[kucritt]

when i join in the 2015 i use bitcoin and send my bitcoin fast and not slow like now, the fee is very cheap, in a day i think i can send 4 - 5 transaction and i right now if i send 4 - 5 transaction i think i will get some deficit from my balance

[Heidim]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?

[Kakmakr]

It's a lot faster thanks to SegWit and SegWit2x coming soon, not to mention the Lightning Network. There have been spikes where a large number of people are sending Bitcoins at one time where transactions may be slow, but it doesn't seem like it will be a major problem over the coming years. Just keep holding because it will probably be used as a store of value rather than cash.

It is even faster if you take into account that some people are using the Lightning Network now and it was not around back then.  I was using Bitcoin before the whole spam attack thing happened with Bitcoin XT rivals and what not and the tx confirmation was not that big issue before that. 

Once rival forks came on the scene, butthurt coiners started to spam the Bitcoin network and everything went to shit. Now, with SegWit, these attacks became too expensive and they backed off. 

The LN made these spam attacks virtually impossible, so scaling is not an issue anymore.   

[btc78]

I still need some help with the topic. Trying to see how much has changed, not just depending on statistical data alone but a lot more on real life experiences.

f

For what reason that you badly needed help just about this questions?i think this has nothing tp do with your trading or holding strategy

But for my experience since i have been here for year now,transaction is more fast ans cheap wayback not like what happen when the tome you posted this,but i am sure that if the lightning network done and released things will changed for good

[olumyd]

I still need some help with the topic. Trying to see how much has changed, not just depending on statistical data alone but a lot more on real life experiences.

f

For what reason that you badly needed help just about this questions?i think this has nothing tp do with your trading or holding strategy

But for my experience since i have been here for year now,transaction is more fast ans cheap wayback not like what happen when the tome you posted this,but i am sure that if the lightning network done and released things will changed for good

I was doing a research and needed some more information about BTC mining since 2009. I'm still looking for more insider 

[gentlemand]

I find it very weird how many people are convinced almost everyone who dabbled in Bitcoin in the early days lost it.

I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.

People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.  

[Teawhalee]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

I am very optimistic about seeing the right and  correct answer to this question. I think it won't be something hard as confirmation time back then might take maybe minutes to confirm. I hope to know the perfect answer to this question

[KenChanYu]

I find it very weird how many people are convinced almost everyone who dabbled in Bitcoin in the early days lost it.

I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.

People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.  

I think these people were just having fun of their money and not having serious target on for the assets they had. Most of them were panic sellers and day traders who used to play buy and sell during those green days of btc. Good thing for those who are silent btc hodlers, still keep their btc grow even if it's not gaining that fast. Patience is their strategy and nothing else, because if they will follow the foot steps of those weak handed people nothing will happen and situations will become worst at all.

[J-N]

I think these people were just having fun of their money and not having serious target on for the assets they had. Most of them were panic sellers and day traders who used to play buy and sell during those green days of btc. Good thing for those who are silent btc hodlers, still keep their btc grow even if it's not gaining that fast. Patience is their strategy and nothing else, because if they will follow the foot steps of those weak handed people nothing will happen and situations will become worst at all.

I guess the most of those who dabbled with Bitcoin in early times have already sold their bought/mined coins for about 2000$ in March of 2017 when the first pump came to the crypto-exchange markets. Now the huge piece of BTC is in the hands of those investors who want to manipulate the price of Bitcoin. Of course, some early BTC adopters still keep their private keys on the hard drives or USB-sticks in encrypted format but I think they are the minority of the Bitcoin owners.

[groko271]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?

no idea mate. My friend was the tech guy,  he traveled a lot so we set up the rig at my place and split the coins. it was more of a hobby and a lot of fun. I consider it a lucky fluke that the value went were it did.

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?

Regarding btc I have kept about half of them, moved to paper wallets and kept in a safe place. We were done with mining btc before the price skyrocketed so yeah we still had most of our coins when it did. I did sell a few btc close to the ATH, for reinvesting purposes etc..In late 2012 We did give 20btc each to some friends and family and told them to hold until 2020 lol, I think only 1 of them has kept the coins until now.
As for litecoin, most coins were held until the introduction of segwit and many were sold at about 75% of the ATH.

These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.

[Heidim]

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?

no idea mate. My friend was the tech guy,  he traveled a lot so we set up the rig at my place and split the coins. it was more of a hobby and a lot of fun. I consider it a lucky fluke that the value went were it did.

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?

Regarding btc I have kept about half of them, moved to paper wallets and kept in a safe place. We were done with mining btc before the price skyrocketed so yeah we still had most of our coins when it did. I did sell a few btc close to the ATH, for reinvesting purposes etc..In late 2012 We did give 20btc each to some friends and family and told them to hold until 2020 lol, I think only 1 of them has kept the coins until now.
As for litecoin, most coins were held until the introduction of segwit and many were sold at about 75% of the ATH.

These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.

  Wow!! 20 Btc each! Everybody needs a friend like you.  Yes, 2018 has been brutal but you've been holding so long now so another 2-3 years makes no difference right?