If I had bought bitcoin 10 years ago, I would have been a millionaire: Not true

[dificanovi]

Sometimes dreaming is beautiful and fun, but after that we will be disappointed not to buy bitcoin 10 years ago. Now it's better for us to think about how we can get as many bitcoins as possible at a time when the price of bitcoin is much more expensive than the price of bitcoin 10 years ago. We must often participate in Bounty campaigns or join all Airdrops, while collecting all Altcoins and then selling them to be able to buy Bitcoin. I think this is a great way for beginners to earn Bitcoin.

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[bitzizzix]

Even if there were, we wouldn't have known about it or maybe he kept it a secret or wasn't here.
and most people will have something in common with what we do and will not be able to contain their emotions when they get big profits, and after that do the same thing and most importantly don't make sales in a state of small profits let alone in a state not megutungkan.
because we are afraid of the risks that occur unexpectedly.

[geegaw]

Sometimes dreaming is beautiful and fun, but after that we will be disappointed not to buy bitcoin 10 years ago. Now it's better for us to think about how we can get as many bitcoins as possible at a time when the price of bitcoin is much more expensive than the price of bitcoin 10 years ago. We must often participate in Bounty campaigns or join all Airdrops, while collecting all Altcoins and then selling them to be able to buy Bitcoin. I think this is a great way for beginners to earn Bitcoin.

A decade ago sometimes we did not need to invest money to buy, just a computer with a powerful enough configuration and a little knowledge of bitcoin harvesting, the amount of bitcoins that can be earned will even be more than our investment efforts now and cherish in a decade, being a millionaire is not an overstatement. Airdrop and bounty were powerful cards and weapons to do so ten years ago but now the rewards are few and the cheats are more, besides, maybe it's just amnesia that helps us hold bitcoin in such a way, most of the time it's simply selling and selling without thinking much.

[gabbie2010]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

You made a valid point here, In fact majority of early bitcoin hodlers or investors must have sold at a much reasonable price thinking that it has peaked, only few investors who has a mindset of hodling bitcoin for the future and value it as an asset would have made a fortune for hodling it, despite the upsurge in the price some of these investors or hodlers still kept like an asset instead of selling all or part to fiat, I think these category of people deserve some commendations for their patience and perseverance.

[uneng]

I'm not sure about this, because early investors didn't need to sell their entire holdings to make x2 or x3 profit. They could have just sold some percentage of their investment, splitting the total sum into short, medium and long term quotas. I believe there aren't many of those millionaires nowadays simply because there weren't many early bitcoin adopters, and at same time many of them were probably already millionaires back then, because bitcoin wasn't something widely advertised among laymen. It was the technical, professional guys (not only in informatics, but in finances too) who were there since the beginning.

[Imran232]

Yes, I agree with your point. However, I believe if I had bought bitcoin 10 years ago, the price would have touched $100 per share because at that time, I thought this was the highest return I was getting, so I should take my profit. But after it crossed $5000 for the first time, people understood that this could touch any price mile stone. And you know what I am believing right now, which is that there is no best time, whenever you take entry, just keep holding it tight for some time, you will get your return guaranteed. Consider those who will tell me in ten years that if I bought bitcoin in 2021, it will be difficult to buy a bitcoin for me right now.This is what bitcoin teaches us: that time is everything and it is the only game changer.

[24Kt]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

You made a valid point here, In fact majority of early bitcoin hodlers or investors must have sold at a much reasonable price thinking that it has peaked, only few investors who has a mindset of hodling bitcoin for the future and value it as an asset would have made a fortune for hodling it, despite the upsurge in the price some of these investors or hodlers still kept like an asset instead of selling all or part to fiat, I think these category of people deserve some commendations for their patience and perseverance.

Who would have thought that bitcoin will reach the 50k or 60k mark? For sure, when bitcoin reached more than 16k last 2017, a lot sold their stash, because it was the first time that they had seen such value. So even if you bought a lot way way back, still no assurance that you haven't sold along the way, when you feel you are in very good profit.  So for those saying that they should have bought, your decisions may have been different as no one knows where btc price is heading to.

[Slow death]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago.

it would be difficult or even impossible for someone 10 years ago to predict that the price of bitcoin would increase up to $69,000, and I also think that when it is, 2017 the price reached $20,000 many people who had held it for years must have sold

Most of the investors will be sold at the idea of 2x or 3x itself.

I agree, many people started to place a lot of value on hodl after they saw the price go up to $20,000

[GeorgeJohn]

people who have the money to invest don't dont really go into quick withdraw, it's only people don't have money that always been conscious of withdrawing their investment money, so from my observation, the process of allowing your coin to stay in a period of time, like interval of ten years and above depends on your source of capital and the strength of your financial capability, those set of people that's is willing to withdraw or doesn't not allow investment to stay so long have a target and it's accordance or applicable to people who leaves investment for a while...in summary, it's long time investment that gives money and also turn a millionaire to a billionaire, from my perspective.

[Sithara007]

Not always true. I know guys who purchased BTC in 2020, and then sold their coins in 2021 for 100% profit. And personally in my case, I made the initial investment in 2014, when the exchange rate was around $600 per coin. And after almost seven and half years, I am holding on to more than 50% of those coins, and by now the net worth has gone up by 80 times or so. I agree that not everyone would have the patience to hold on for so long. But if you had invested during the early days, then the chances are that you will be richer by now.

[wajik-tempe]

Not always true. I know guys who purchased BTC in 2020, and then sold their coins in 2021 for 100% profit. And personally in my case, I made the initial investment in 2014, when the exchange rate was around $600 per coin. And after almost seven and half years, I am holding on to more than 50% of those coins, and by now the net worth has gone up by 80 times or so. I agree that not everyone would have the patience to hold on for so long. But if you had invested during the early days, then the chances are that you will be richer by now.

In the past price growth for a coin needs many years to make 10-100x returns, but nowadays a coin could make 100x in less than a year, it showed us the market growth of cryptocurrency is growing so fast, if we compared to the previous years, this year's market cap is having a crazy growth.
I'm sure the next following years are will be more because the worlds is already realize the crypto power could make people's life easier compared to using banks for transaction.

[michellee]

Not always true. I know guys who purchased BTC in 2020, and then sold their coins in 2021 for 100% profit. And personally in my case, I made the initial investment in 2014, when the exchange rate was around $600 per coin. And after almost seven and half years, I am holding on to more than 50% of those coins, and by now the net worth has gone up by 80 times or so. I agree that not everyone would have the patience to hold on for so long. But if you had invested during the early days, then the chances are that you will be richer by now.

In the past price growth for a coin needs many years to make 10-100x returns, but nowadays a coin could make 100x in less than a year, it showed us the market growth of cryptocurrency is growing so fast, if we compared to the previous years, this year's market cap is having a crazy growth.
I'm sure the next following years are will be more because the worlds is already realize the crypto power could make people's life easier compared to using banks for transaction.

Maybe that is because, from this year, the number of people involved in crypto increased, so they see that with many potential coins in the crypto market, they think that will help them make money. That is why one coin can make 100x in less than a year, especially we still have a gaming trend that rewards the player for earning money. So I think it is a blessing for those involved in crypto from 10 years ago because I am sure that they will have so many coins in their wallet and all of those coins can increase anytime, especially if the altcoin season can come again.

[molsewid]

Not always true. I know guys who purchased BTC in 2020, and then sold their coins in 2021 for 100% profit. And personally in my case, I made the initial investment in 2014, when the exchange rate was around $600 per coin. And after almost seven and half years, I am holding on to more than 50% of those coins, and by now the net worth has gone up by 80 times or so. I agree that not everyone would have the patience to hold on for so long. But if you had invested during the early days, then the chances are that you will be richer by now.

In my personal experienced I've purchased bitcoin wayback year 2017 and at that time the price was only $2.5k but after a few months of holding bear market came and as much as I wanted to hold it for a long term I don't have a patience enough that time to hold for a more years to come, i've stop my loss or it is safe to say that I've take the profit that I think is already enough. Today, if I could only turn back time I am now a self-made millionaire but past is past, and after all I don't also have regrets to what happened, I just learned an important lesson that when you feel that the crypto you're holding is worth to hodl for a long term, and as much as the money you put here is an amount thaat you can afford to lose then better to hodl it for a long term.

[Jasad]

of the thousands of people who bought and kept their bitcoins from 10 years ago, maybe only a few people have been able to keep their bitcoins until now, maybe there are rich people who do that, because those who have more money are always investing in time. the old one, in contrast to us who only have mediocre money, so it will not be possible to store bitcoins for up to 10 years, maybe if any of us have stored bitcoins until now maybe they are now millionaires, indeed that is a reality because the price of bitcoin goes up 100 times the price we bought first..

[Woodie]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Totally agree with you, no one wants to hold for long without having a roadmap of how the return will be in the future... but the most likely to hodl for a long time to become millionaires are those without the actual interest in cryptocurrencies and another problem that arises is that these buyers are also likely to be the guys to have lost their private keys to such coins.

[Fortify]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Ironically this is similar to the strategy that one of the best investors in the world suggests as a strategy for stock market investing - don't buy into something unless you're willing to hold it for ten years (or be unconcerned if the stock market closed tomorrow for ten years). Another similarity is the best investors in funds have been proven to be dead people - they didn't buy and sell unnecessarily so had the best returns. You're right though, most people could never have predicted the heights Bitcoin would reach in the mania of the last couple years and would have likely thought selling at 5k, 10K, even 25k would have been good. It would still have been a major return on investment however and that is the right way to look at it.

[rhomelmabini]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

That's totally a fact only those who have the resolve to really hold it on the long term got rewarded and I think I wouldn't count a thousand to those who really hodl all the way until now. I guess only those who are already millionaires have the courage to take those risks but for those who already got the profit they need like 10x, 20x, 50x will surely have paper handed it.

[Kakmakr]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

This is absolutely wrong.... I bought coins when the price was $300+ and I still have some of those coins in cold storage. I have also bought many more coins after that and I have also sold some coins at $18 000 (2017/18) and then again lately ..just after the price hit $50 000+

I will continue buying and selling as the price dump and recover... because that is how profits are made.    The people who sell at those small margins are speculators and they are from the old financial systems with their low volatility. 

[stomachgrowls]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

No one could really tell on what would happen in future and its true that people do even think up on selling when it hits 2x or 10x maximum yet i cant blame off on why those early adopters do sell off with those points and to those people who had totally forgoten does really get the maximum benefit because the price do really goes thousand in folds.

I could really say that it is somewhat mixed-up with some luck because no one had really anticipated that we would go this far.

Sorry for those who lost up money and sorry for those who sold early and never came back but its never been to late to engage once again.

[Sebas.tian]

Yes, you would have become a millionaires if you could have bought bitcoin 10 years ago because those investors that bought bitcoin 10 years ago are now a millionaires in the community. It was not easy for them to bear the market price over the 10 years than to hold and watch careful so that he or she will become a successful investors in the community. Now that the price of bitcoin has moved to $50k in the exchange market, it will be better for those investors who want to become a millionaires in the future to start buying bitcoin now so that they will be part of those that will enjoy the benefits of bitcoin in the future.