How Early Is It Now, For Those Who Missed Bitcoin In Its Early Days?

[Fivestar4everMVP]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

12 years ago, with a dollar($1), An investor can literally own a few thousands of Bitcoin, but today, an investor would have to spend at least, $20,000 to own one full bitcoin plus..(BTC1+)based on currently price that's a little above $19,000.

Knowing the above, I have this feeling that it scares small investors (that is those that can not afford up to 1 full bitcoin or even 0.5 bitcoin) from investing in bitcoin most especially, during bear market as we are currently experiencing.
Since one of the most reason why some people buy bitcoin is for monetary gains, they feel investing in bitcoin now can never make them the millionaire they dream to become, so they go for altcoins that are still very cheap instead thereby exposing their money to a higher risk for a higher gain kind of investment.

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar, according to him, he said that if he buys bitcoin at this current price, even if by 7 years from today, the price of bitcoin rises to $200,000 and above, it still will not give him the kind profit he wants, it won't make him a millionaire 🤣🤣🤣,

(please note that, I didn't bother calculating what 0.07 bitcoin would worth when 1 full bitcoin hits the price of $200,000)

 according to him again, he is ready to hold for at least 10 years, but he's not sure BTC0.07 would make him a millionaire in 10 years from now.
In the process, I gave the idea of making it a habit to save his monthly salary in bitcoin for atleast, 2 years while waiting for his target of 10 years, that by the end of that 2 years, his bitcoin balance won't be 0.07 any more, but a little close to BTC1 full bitcoin, and it's worth in dollars can even be much more if the price of bitcoin appreciate significantly in the course of the 2 years... He still refused, says he's not sure it will work out..

At the end of it all, I had no choice but to leave him to his choice, atleast, it saved me the stress I would go through trying to make him feel alright in the future if things later did not go as u envisioned for him.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Let's discuss.

[hd49728]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

[NeuroticFish]

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar

I had the same problem when I first heard of Bitcoin. And I wasted 1.5 years mostly with worthless altcoins.
I was lucky and the period I've wasted matched a bear market. But will your brother be this lucky? I doubt it. 1.5 years is already after next halving.

So you better convince him to DCA instead of wasting his money in coins that now worth 1$ and in 2 years they'll worth less than 1 cent. He doesn't have to buy 1BTC, nor 0.07BTC. He can start with even 0.007BTC or less; let him start much smaller until he gets comfortable with all this. Just make sure he doesn't waste too much with various exchanges' withdrawal fees (since it can be very disappointing at small amounts).

[jackg]

Most early investors lost a lot of unrealised gains too and this is something that's gone mostly ignored because a few people have made money out of it (some and probably quite a lot were wealthy before it and have gained money from their exposure or saying they were exposed to it).

If you're arriving "late" your options are going to be:
1. Invest in bitcoin because no one can predict the future and it could go a lot higher realistically.
2. Invest in stocks and learn how to do that, you'll risk a lot less of a loss and won't have the above issues of a beginners misfortune (such as lost keys or exchange hacks).
3. Invest in alt coins that actually look like they're innovating and constantly rebalance your portfolio (this is why most avoid altcoins and don't bother with them - if you're not going to actively monitor what you're invested it you're just going to throw money away and benefit others who will).

[lovesmayfamilis]

I also have friends who say that it is more pleasant to see thousands of shitcoins in your wallet at a time when you cannot buy 1 bitcoin for the same amount. I also came during the bounty campaigns and was encouraged by the number of tokens that fell into my wallet, thinking that I had found a gold mine. Likewise, I think that, as these times have not changed, those who believe in alternative coins will also be disappointed very soon, and ultimately understand the value and correctness of investing in bitcoin.
You just need to give such people time. They will wake up.

[Lucius]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

You did not support that claim with any evidence, so although it is not illogical to think that cryptocurrencies have created a lot of rich people, I would not agree that their number has increased from 8.6 million (as many as there were in 2008) to as many as 62.5 million as there are today. What is even more important, what do you think is the ratio of those who profited from Bitcoin compared to those who sell various digital-crypto garbage, while using the pre-mined option and literally stuffing millions into their pockets while naive people buy a few thousand of their tokens for a couple of $ thinking they found a good investment?

Since one of the most reason why some people buy bitcoin is for monetary gains, they feel investing in bitcoin now can never make them the millionaire they dream to become, so they go for altcoins that are still very cheap instead thereby exposing their money to a higher risk for a higher gain kind of investment.

If it's only about profit measured in millions of something, maybe it's even better for Bitcoin that some people pursue their dreams in another way, at least that way they won't be able to blame Bitcoin for not succeeding in life. I have advice for such people "Play the lottery", the chances of you becoming a millionaire are slim, but at least the whole thing is very simple and you can live in hope every day for literally a few $ a week.

(please note that, I didn't bother calculating what 0.07 bitcoin would worth when 1 full bitcoin hits the price of $200,000)

You weren't really paying attention in math class, were you? Well, the calculation is very simple, if we take the current price, then 0.07 BTC is worth about $1350 - and an increase of x10 would mean that the value of that BTC increased to $13 500 - which in 10 years will certainly not be an amount that will have the same purchasing power as today.

Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Do you think that 0.5 or 1 BTC can make someone a millionaire in the next 10 years? Of course I'm talking about US dollars or euros, otherwise a lot of people can already be considered millionaires in their national currencies. I think that owning 1 BTC has a much greater psychological weight than the financial one, at least for some people who do not look at the whole thing only from the perspective of profit.

[Zlantann]

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Let's discuss.

I don't think there is any guarantee that investing in Bitcoin can make one a millionaire. It can be possible that his investment in Bitcoin can make him a millionaire, but there are also possibilities that he might lose some of his funds because of the fall in price. Although wanting to be a millionaire is not a bad aspiration, but I am always sceptical to advice or introduce people that are desperate to make millions to Bitcoin investment.

But my advice to your brother is that if he wants to invest on cryptocurrencies, he should consider only Bitcoin. For me it is not in the quantity but the quality. Since he is planning to invest for a long period, Bitcoin can also make him a millionaire.This is because Bitcoin have stood the test of time and it has also proved to be independent. For now, I only trust Bitcoin.    

[BitcoinBarrel]

It's never to late to make smart investments and build businesses.

Take any successful entrepreneur and strip all their resources and assets from them. They will be able to build wealth right up to where the were before because they have the knowledge.

Keep learning, keep growing, and keep making efforts to improve your life. Then success will come.

[mk4]

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

I'd tell them to learn to understand markets in general so they can make their own educated decisions on what to invest in if they want to actually be a millionaire.

Also — investing, and especially with doing investing to become a millionaire, doesn't require one single lump sum investment especially if you can only afford 0.07 BTC. The trick is to slowly but surely add capital to assets you think would appreciate.

[Dunamisx]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

there's no doubt about this but in other words too, some have gone extremely wrecked down by not knowing how to channel their way with handling the financial digital currency in bitcoin, such are the ones that don't know how to trade (buy or sell) but engage doing it, they have less speculative abilities with bitcoin price, they don't know the difference between exchanges, they don't even know how and why bitcoin is the lead digital decentralized currency, they are the types that got mishandled their wallet keys and the likes, but of no doubt, many investors through bitcoin have made it in live as long as they were intentional with their investment.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?

they should still maintain their boundaries with bitcoin alone no matter how small the interest that comes through it might be, business or investment is meant to grow, it needs to time to mature and grow over time, patience is one of the keys needed, there use to be time for bitcoin bullrun, set the target for this period and buy the dip to sell high when the price increases, bit without been patient, such newbie or anyone can fall into the hands of other cryptocurrencies with worst experience.

[romero121]

The understanding about the market varies from person to person. Majority of the early holders believed without much of expectations. Some could've understood well about it and invested into it. When I got into bitcoin usage I believed in some sense and slowly get to know well about it.

When I got to know about Bitcoin it was around $300 or $600, I don't know exactly. I couldn't afford that at that time. I believed in it, but didn't had the investment. So, it is also the situation that drives people away from cryptocurrency investment.

[Upgrade00]

Getting rich by buying an asset under 1$ and selling it in 5-10 years for ×100 or ×1000 is not something which comes around regularly. Simply put, Bitcoin was not acting like regular assets which many were into. With such investments, a profit of 5-15% annually was a huge one and what people fell back on when looking for where to keep their money.
But a potential ×10 or 1000% growth doesn't seem attractive enough now?

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

If you want to become a millionaire invent something or start up a business, or learn a useful skill
If you want a hedge fund which would be resistant to inflation and potentially appreciate in value over time, them buy Bitcoin.

Majority of altcoins would not exist in a decade and your investments in then would be lost along with it.

[OgNasty]

For anyone who "missed" out on early prices, the current market is basically like traveling back in time 5 years.  I'm still shocked that friends I have who basically buy the top every 4 years and sell at a loss aren't holding anything right now.  That's as good as sign as any that you should be dollar cost averaging into the market right now.  Sure, there's still some downside risk, maybe as much as 50%, but the upside to me could potentially be 20x from here.  That's a hell of a good bet as far as I'm concerned.  If you've been on the fence and reading about Bitcoin for years, now is a good time to start dipping your toe in the water.

[Mate2237]

Do you know that since the invention of Bitcoin in 2009,

Mate. I don't know how others understand the concept of invention. As for me and Oxford discovered, it means creation and discovery, and if this what you also understand and used it here then the date of the invention mentioned is probably misinformed if newbies are here. I am not trying to prove it wrong but I am trying to give the meaning from my point of view. If invention is discovery and also synonymously to creation the bitcoin was invented in 2008 then launched  (send out) to the ecosystem or space in 2009. This is how I understand the concept. So bitcoin was invented in 2009 sound odd to my hears.

Concerning your brothers Investment on bitcoin,  I believed this is the second time I have come encountered this part of the thread. The stories are very familiar but there are different users. Tell your brother that the 0.07 BTC can't make him a millionaire in 7-10 years to come. He should remove that mindset in Investment. Although he might become one but he should not think of it. Since he said he will hold the bitcoin till the ten years interval, that is a good long term Investment. And he should also prepare for the volatile nature of the currency. Thanks you for encouraging your brother. Keep it up.

[aoluain]

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

I'd tell them to learn to understand markets in general so they can make their own educated decisions on what to invest in if they want to actually be a millionaire.

Also — investing, and especially with doing investing to become a millionaire, doesn't require one single lump sum investment especially if you can only afford 0.07 BTC. The trick is to slowly but surely add capital to assets you think would appreciate.

Unfortunately MK4 there are stories going around of how others got to be millionaires from
altcoins, unfortunately the people being influenced don't realise that altcoins are a lottery.

There is also a degree of impatience, those people attracted to the lure of altcoins
cannot see the long term, it's not attractive.

I think the OP needs just to warn the brother and let him learn from his mistakes, it seems
like there is no turning him, unfortunately.

[dunfida]

For anyone who "missed" out on early prices, the current market is basically like traveling back in time 5 years.  I'm still shocked that friends I have who basically buy the top every 4 years and sell at a loss aren't holding anything right now.  That's as good as sign as any that you should be dollar cost averaging into the market right now.  Sure, there's still some downside risk, maybe as much as 50%, but the upside to me could potentially be 20x from here.  That's a hell of a good bet as far as I'm concerned.  If you've been on the fence and reading about Bitcoin for years, now is a good time to start dipping your toe in the water.

Dumb decision or totally crazy things been done eh? You would really be boggling up your mind on how the hell these people do consider on panic sell on a bear market which we do eventually know that recovery is always

next online? Yes, having these reactions or emotions are pretty common.We dont like to lose money with our investment but with the volatility aspect or behavior then those things could reversed out.

Speaking about those early days or years prices then there's no way we could take it back.This is why some people do keep an eye on altcoins yet we cant really be having those 10-100x
multiplier of profitability.We might be seeing bitcoins price on shooting up 3x-5x on some long years and not all would be that patient enough.

[Captain Corporate]

This is basically what I do. I have to accept that I haven't done it in a while, because I bought some stuff, and I am not regretting it because I really needed them, I literally couldn't work because I didn't had a proper working PC, which means I can work without a problem. However, normally before all of that, I have been here for nearly 9-10 years now, and I never saved for a long time, and in 2019 I realized saving is the way instead of just buy/sell trading style. Buying and selling never profited me, but ever since I started to put %5-10 of my salary into bitcoin, I made a great deal of money. If you start now, and put %10 of your money into bitcoin, then I guarantee you that you will be able profit enough to retire in 10 years. It is just that good to invest into bitcoin.

[boyptc]

I'll give the example of Cathie Wood. She bought bitcoin @ $250 each and she has bought worth of $100k for it. She's the founder of Ark Invest.

--> https://www.coindesk.com/business/2022/10/24/cathie-wood-still-holds-bitcoin-she-purchased-years-ago-at-250/

Whether she has sold at the top or not, she's still in profit right now around to nearly $8M. Tell this story to your brother and let's see if he's going to be inspired by her or that wouldn't enough for him to be encouraged to invest only in bitcoin.

[kro55]

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Let's discuss.

Try showing past altcoins deaths to your brother such as the most recent one being Luna, a potential altcoin with a market cap of $60 billion has collapsed in just 2 weeks and caused thousands of investors to stumble, even commit suicide, believing that investing in altcoins can make them rich fast. Most newbies have this mindset, they always think bitcoin is too old to be profitable for them and they look to newer altcoins. Let them invest in altcoins but tell them don't invest too much, invest a little bit, let them experience it for themselves they will learn their lesson and come back to bitcoin soon.

[mk4]

Unfortunately MK4 there are stories going around of how others got to be millionaires from
altcoins, unfortunately the people being influenced don't realise that altcoins are a lottery.

There is also a degree of impatience, those people attracted to the lure of altcoins
cannot see the long term, it's not attractive.

I think the OP needs just to warn the brother and let him learn from his mistakes, it seems
like there is no turning him, unfortunately.

I only partly agree. It's a lottery for most people who don't know what they're doing, but there's definitely ways to know if a certain altcoin could perform good in the mid-long term. Though I'm not saying that it becomes not-so-risky of course; it's still highly risky, but it becomes a lot less of a lottery if you know what you're doing.

[Don Pedro Dinero]

according to him again, he is ready to hold for at least 10 years, but he's not sure BTC0.07 would make him a millionaire in 10 years from now.

Wanting to become a millionaire with an investment of 0.07 bitcoins at current prices is the main mistake for me.

First you should study what bitcoin is, and from there decide whether you want to buy or not, but nobody knows how profitable it will be in the future. We know what it has given in the past, yes, but we also know that many people sold when they got 10x their investment.

If you want to become a millionaire, buying bitcoin should be part of your plan. Having a good job or business so that over the years you have more income, looking for alternative sources of income and investing wisely (including buying bitcoin) is a better way.

[rin24]

I think the future will be to alts not btc, yes both will be used more and more, eventually price will go up with time, but in my opinion if you want a better ROI I would focus more on alt than on btc

[d5000]

To try to give an answer to the question in the OP's title: Amazon circa 2009 (remember it was ~4-6$ then, recovering from the 2007/08 crisis bear market. Now it's about 120$, with an ATH of 170$ - see here).

Basically, I believe that Bitcoin has the potential to reach the capitalization of gold (10-11 trillion USD). This would be, approximately, a 20x from now. It is however not a safe bet, but safer as most altcoins.

Thus, your brother wouldn't become a millionaire. But if he believes that crypto is worth it, then he could invest:

1) half to 2/3 of his money in Bitcoin - the probability is very high that this investment will at least double in the coming years.
2) from the rest, about a third to half in promising bitcoin and crypto businesses.
3) And the rest into altcoins.

While I'm a "moderate Bitcoin maximalist", I believe there is at least space for 3 to 10 strong alternative blockchains or cryptocurrencies.

But take care: Most blockchains, even most top-10 altcoins, are basically centralized. These will be perhaps awesome for short term gains because they have enormous marketing budgets (with their premines, they print money out of thin air for bounties, airdrops and other stuff), but in the long term they will perhaps not preserve their value well because the blockchain is a very inefficient technology for centralized applications.

So if you're short-term oriented choose a centralized blockchain, which could go x20 or even x50, and then crash. If you however want to be fine long term search for really decentralized projects. I think a "decentralized Ethereum competitor" could be something like the ideal altcoin to try some risk money out.

[cryptoaddictchie]

Likewise, I think that, as these times have not changed, those who believe in alternative coins will also be disappointed very soon, and ultimately understand the value and correctness of investing in bitcoin.
You just need to give such people time. They will wake up.

Im an altcoin enthusiast and bitcoin investor too. We cant weigh the gravity of effectiveness at one source. Yes bitcoin could be the best option, but we cant turn down potential of alts when the bitcoin market goes back once again. If we are talking about great multiplier, at the current market then alts will be the best move here. Provided that you are into right one.

These profits from altcoin are safely converted into bitcoin in the longer period. Anyway just my thought.

[8rch7]

We should continue to learn and we must try as hard as possible and we also have to prepare our mental from now to be able to improve our lives to be better in the future, actually questions like how early is it now for those who missed bitcoin in the past all the answers depend on each of us, because it is not necessarily the people who adopt bitcoin early have enjoyed the results, maybe they can't be patient and can't survive, maybe people who adopt bitcoin now can become billionaires in the future, because of the supply bitcoin is very limited so maybe if we dare to hold bitcoin now we can be successful in the next few years, basically take advantage of every opportunity that comes.

[Adbitco]

Can i tell you one simple truth?
By next year thereabout or after bitcoin having same this your brother would walk to you and ask if actually you still advised him to buy bitcoin, saying "what do you think, are you still on the opinion he should buy or what"? And then as a brother to you, you will say Yes go buy. If is someone like me, i won't answer such questions anymore; Same thing happened to me where i was trying to let a friend buy bitcoin and what he always does is that he would say i should notified him when bitcoin price is dip, whenever i noticed the bitcoin price is in a good position to buy i would called him.

Guess what?
He would say are you sure is the right time don't you think is too high for me to buy now let us wait a bit and monitor's it within the month or so, to cut the long story short, he ended up not buying any bitcoin till the price gets to very higher and he came crying to me if he knew he could have bought at the first time he called me.
This is why i said your brother would likely do same thing, and besides i don't think if altoin have disappointed him before ( Like those pump and dump token/coin) At then he would realised he made a very huge and expensive mistakes. So don't kill yourself rather i will tell you to keep today's record or buy some fractions of bitcoin and hold secretly without him knowing maybe in the future when the prices surges again then you can show him that this units or fractions of bitcoin was bought that same day he came to you. Let it be as a reminder to what he missed then.

[Wexnident]

At the end of it all, I had no choice but to leave him to his choice, atleast, it saved me the stress I would go through trying to make him feel alright in the future if things later did not go as u envisioned for him.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Idk, just the fact that he's relying on a single investment to make him a rich man doesn't seem correct in the first place already. He's probably not even looking to be a millionaire by looking at it years from now, he wants to be a millionaire as soon as possible already, which more often than not simply kills their investment early on. This is what I would consider as a gamble instead of an investment tbh.

Then there's the idea of thinking that buying a coin that's below the price of a dollar for 1 makes a good investment, well it's not. The original mindset he has should be changed imo, Thinking that an investment like Bitcoin which compounded investments 1000x in the past would happen again is really really minimal, one shouldn't even consider that such a scenario would happen when investing in anything. 

For investment alternatives, altcoins are always there, he just has to do a LOT of research not just on the coin itself but also on the team behind it, whether the project can even boom in the first place. Even riding just the initial hype and getting out should be enough to be called a success.

[pooya87]

One question that people forget to ask is how many of those who bought in early days have actually held on to their coins. We see this all the time, people buy bitcoin at a price like $5000 and when it drops to $3200 they panic and sell their coins. Then after a couple of months when price is at $70,000 they complain about missing out.
Things weren't that much different in early days either. There were a lot of people who bought at $1 but panic sold it at $0.8.

The problem is always the same too. They want to become rich overnight.

[lienfaye]

One question that people forget to ask is how many of those who bought in early days have actually held on to their coins. We see this all the time, people buy bitcoin at a price like $5000 and when it drops to $3200 they panic and sell their coins. Then after a couple of months when price is at $70,000 they complain about missing out.
Things weren't that much different in early days either. There were a lot of people who bought at $1 but panic sold it at $0.8.

The problem is always the same too. They want to become rich overnight.

I agree. Some early investors probably managed to hold their Bitcoin for long and became millionaire for having patience but not all of early investors had the same fate. Because often weak investors do panic when the price is decreasing, hence to avoid further losses, selling at loss is their solution to save their money. So even investors who had the chance to buy at cheap price before to become millionaire when the price of Bitcoin reach its ATH, are also probably failed, it's either because of panic selling or they sell after seeing the price increase a bit not knowing it can increase further.

Thus, for op's brother, it's not a reason that the price now is quite expensive than before and it can't make you millionaire since your budget is not huge. Remember that Bitcoin is a reliable crypto and much ahead than alts, therefore less risky even it takes a long period before you can see the result because it's worth it. You can look for altcons that can make you become millionaire in a short period but that hidden gem is really hard to find and requires analysis and extensive research.

[LogitechMouse]

Giving some advice to a newbie where in fact, he shows that he is more superior to him than you who is in the crypto space for quite some time is just a sign that you must leave him with the decision that he wants to.

Giving advice to a newbie is very relieving especially if he is listening on what you are saying. Now if he wants to decide for himself then better let them do what they want to do. Sometimes, making mistakes is the way for a person to learn and this isn't only applicable to investing but in real life as well.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Do what they want to do and let them realize their mistakes once things didn't go the way they wanted to. I mean I want to give advice to newbies but if that newbie already has decided to do something then it will be a waste of time for me to give some advice to him.

Show the charts. Maybe that might change their mind a bit. Show how Bitcoin's price movement is for the last decade. Your brother thinks that altcoins can make him a millionaire because they are more volatile than Bitcoin and maybe he saw some altcoins that moved x100 or x1000, but he didn't saw the risk investing into it. Bitcoin might not make him a millionaire in 2-3 years but over the long run and if he continues to Dollar-Cost Average into Bitcoin then the goal of being a millionaire will be reached. It will not be quick, but it can be reached.

[aoluain]

Unfortunately MK4 there are stories going around of how others got to be millionaires from
altcoins, unfortunately the people being influenced don't realise that altcoins are a lottery.

There is also a degree of impatience, those people attracted to the lure of altcoins
cannot see the long term, it's not attractive.

I think the OP needs just to warn the brother and let him learn from his mistakes, it seems
like there is no turning him, unfortunately.

I only partly agree. It's a lottery for most people who don't know what they're doing, but there's definitely ways to know if a certain altcoin could perform good in the mid-long term. Though I'm not saying that it becomes not-so-risky of course; it's still highly risky, but it becomes a lot less of a lottery if you know what you're doing.

Yea I agree with that mk4

[hd49728]

For anyone who "missed" out on early prices, the current market is basically like traveling back in time 5 years.  I'm still shocked that friends I have who basically buy the top every 4 years and sell at a loss aren't holding anything right now.  That's as good as sign as any that you should be dollar cost averaging into the market right now.  Sure, there's still some downside risk, maybe as much as 50%, but the upside to me could potentially be 20x from here.  That's a hell of a good bet as far as I'm concerned.  If you've been on the fence and reading about Bitcoin for years, now is a good time to start dipping your toe in the water.

There are opportunities at different times and with different given entries. People can not say they miss all opportunities after so many years.

It is not because they were not known, were not gotten all great prices in previous years. It is because anytime they saw opportunities, they hesitated to take it. And when they had another oppportunity, saw another bull run, they hope to get it again. But time is not be able to reverted and they must learn to take other chances in future

[lizarder]

Im an altcoin enthusiast and bitcoin investor too. We cant weigh the gravity of effectiveness at one source. Yes bitcoin could be the best option, but we cant turn down potential of alts when the bitcoin market goes back once again. If we are talking about great multiplier, at the current market then alts will be the best move here. Provided that you are into right one.

There is no harm in considering other options in altcoins, but unfortunately cannot guarantee the value of the investment, altcoins are more influenced by the reaction that will occur in bitcoin, if the market corrects bitcoin, then altcoins will automatically follow, that's why people prefer bitcoin over altcoins.
Altcoins are generally an alternative to Bitcoin, considering the amount of purchase price cannot be reached by many people and most of the altcoins launched are based on the framework contained in bitcoin. The disadvantage of altcoins has an unstable value as an investment instrument.

These profits from altcoin are safely converted into bitcoin in the longer period. Anyway just my thought.

It's hard to translate this meaning, the opposite of what I know, that bitcoin will be changed to be more secure than altcoins that are still speculative, bitcoin has the advantage of maintaining investment value, even though it has Bearist and Bull Run periods.
Therefore, the decision to choose bitcoin or altcoin depends on one's convenience. If given a choice, many people will choose bitcoin.

[inthelongrun]

Most people want to become rich as quickly as possible. And most of these people can easily get scammed especially if they have limited knowledge. There is no easy money and there are no shortcuts. People that became millionaires from Bitcoin earned it. It may look easy but it is not really easy. Those people are equipped with knowledge, iron hearts, strong beliefs, and luck. I also dreamed of becoming a millionaire. But how many of us here continue to hold when your half a million dollars turned $60k? It's easy to say but when you're in that situation it is hard as hell. I learned the hard way. So for me, there is no such thing as late because it always depends on us if we are ready for it.

As for altcoins, it's always the bigger the risks, the bigger the rewards. Maybe OP's brother can diversify his money. And only invest money you can afford to lose.

[Strongkored]

Let's discuss.

If anyone comes to me to learn about crypto and he asks which crypto can make him rich in 10 years less I would advise him to never get into crypto, because crypto is not a way to get rich in a certain period, but investing in crypto i.e. Bitcoin is another way to invest in addition to the existing one, the best way in my opinion to secure our fiat which is constantly falling in value due to inflation.
When we know bitcoin is not very influential, because usually most people will always focus on the price that is happening not what will be able to get in the long run.

[Cryptmuster]

I agree. Some early investors probably managed to hold their Bitcoin for long and became millionaire for having patience but not all of early investors had the same fate. Because often weak investors do panic when the price is decreasing, hence to avoid further losses, selling at loss is their solution to save their money. So even investors who had the chance to buy at cheap price before to become millionaire when the price of Bitcoin reach its ATH, are also probably failed, it's either because of panic selling or they sell after seeing the price increase a bit not knowing it can increase further.

Thus, for op's brother, it's not a reason that the price now is quite expensive than before and it can't make you millionaire since your budget is not huge. Remember that Bitcoin is a reliable crypto and much ahead than alts, therefore less risky even it takes a long period before you can see the result because it's worth it. You can look for altcons that can make you become millionaire in a short period but that hidden gem is really hard to find and requires analysis and extensive research.

There are not so many early investors who managed to save their coins, they sold their coins for various reasons, and these reasons will also be relevant now for those who hold bitcoin, or those who are just now buying. Bitcoin is a good investment for the long term, I don't know how much it can rise to in the future, but it can be a very good investment if you don't get manipulated and don't sell before your goals are met. Moreover, selling at a loss to save your money is a very rash action, and the biggest mistake.

[Marykeller]

I know on severally occasions, I have tried to talk out to my friends about not investing in altcoins but in bitcoin. It does sound to them like water on a rock. Anyway, I don't blame them cos it is in human nature to dream big if they had the idea that their little investment will turn out big in the future compared with bitcoin.

We're saying that bitcoin is the right investment to make in crypto cos we already know what's involved if we invest in bitcoin than altcoin for future purposes. Had it been we do not know how secure our bitcoin investment is, many would have chosen to invest in altcoin over bitcoin based on its price.

[Lucius]

~snip~
The problem is always the same too. They want to become rich overnight.

The real problem is that most people who want to profit by investing in cryptocurrencies have no idea what they are actually doing, which is a perfect path to failure. A story I often hear is that people talk about some altcoins and draw comparisons with Bitcoin in a way that is completely meaningless from the perspective that these new projects have any sense and purpose.

I honestly don't know if I'm more disappointed with all those who constantly create new crypto projects, or with those who persistently support them. Considering everything that has happened in recent years, I would have thought that people would be less naive, but the exact opposite is happening - the same scams, only new names.

[laurenB7742]

Likewise, I think that, as these times have not changed, those who believe in alternative coins will also be disappointed very soon, and ultimately understand the value and correctness of investing in bitcoin.
You just need to give such people time. They will wake up.

Im an altcoin enthusiast and bitcoin investor too. We cant weigh the gravity of effectiveness at one source. Yes bitcoin could be the best option, but we cant turn down potential of alts when the bitcoin market goes back once again. If we are talking about great multiplier, at the current market then alts will be the best move here. Provided that you are into right one.

These profits from altcoin are safely converted into bitcoin in the longer period. Anyway just my thought.

Investing in altcoins is not bad because it is clear that the return it brings will be greater than bitcoin if we invest in the right project. But I think altcoins are not suitable for newbies, because newbies don't have too much knowledge to find a hidden gem that can make a profit. Out of a hundred altcoins, maybe only one can succeed. Even top altcoins if invested in now there is no guarantee they will recover when bitcoin recovers, altcoins are always refreshed every year. Investing in altcoins is difficult to choose, old projects do not guarantee recovery, new projects can bring big profits but riskier.

[Kelvinid]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

Not literally I know them because they are anonymous but for sure there are a lot of early investors who make hold their Bitcoin for many years and become millionaires. But I think, they are already rich before risking their money in this new stuff which is not their worry to lose their money investing in Bitcoin earlier. I'm not sure if they foresee the future of Bitcoin but I see their trust and feeling towards the crypto market is strong to have that decision.

They deserve such huge achievement and market profit, and I remember these words " rich people become richer while poor people become poorer". They take this opportunity while others are rejected it.

[Bitstar_coin]

Depending on the perception of the investor now can still be considered as early especially if they aim for the long term. Early investors in BTC were considered early because they took a chance on something many people were not willing to do and most especially not sure how long it will last.

It will be the same with investing in BTC at the current price of 19k, lots of people think it is already too expensive and not worth it, but if you are willing to take a chance like the early investors, the story may be the same in another decade. I think people should be more comfortable investing in BTC now than before when the risk was high with so much FUD,  things have changed a lot for this tech and that is enough to build confidence in investors.  

[traderethereum]

Investing in altcoins is not bad because it is clear that the return it brings will be greater than bitcoin if we invest in the right project. But I think altcoins are not suitable for newbies, because newbies don't have too much knowledge to find a hidden gem that can make a profit. Out of a hundred altcoins, maybe only one can succeed. Even top altcoins if invested in now there is no guarantee they will recover when bitcoin recovers, altcoins are always refreshed every year. Investing in altcoins is difficult to choose, old projects do not guarantee recovery, new projects can bring big profits but riskier.

The only thing that makes it difficult for us to profit from altcoins is the large number of altcoins, which makes us not choose which altcoin will provide the greatest profit.
I agree that altcoins are not suitable for beginners because, with many altcoins on the market, they will find it difficult to find the right altcoin.
And this is why we suggest investing in bitcoin; meanwhile, we can learn to find the right altcoin.
Now is still the right time for people who have not joined bitcoin to start buying bitcoin and never feel left out because they are still allowed to buy bitcoin at the current price and keep it for the long term.

[uneng]

There is still potential in bitcoin for new investors to profit from market's fluctuations. We expect bitcoin is going to enter a new bull run on the next years which can boost its price to 100,000$ at least. That means there is a 500% profit opportunity ahead, being conservative on our predictions. Of course this is just speculation and that might happen or not, but that is a pretty consistent opinion among majority of bitcoin enthusiasts, which have been proven to be right on past events related to bitcoin's price. However, this might be the last chance for new investors to adopt bitcoin. We don't know how many rising cycles we are going to have yet. The next one can be the last...

[darkangel11]

Knowing the above, I have this feeling that it scares small investors (that is those that can not afford up to 1 full bitcoin or even 0.5 bitcoin) from investing in bitcoin most especially, during bear market as we are currently experiencing.

It only scares away those who don't understand that 10k USD spent on bitcoin a year ago and 10k spent today is still the same 10k invested in bitcoin. It doesn't matter how much you have, the value that you moved to another asset is the same.

If someone bought bitcoin at 10k in 2019, would now have 20k. A person who now invests 10k and bitcoin does the same thing (goes up 2x) will have 20k. I don't get how you can be scared away by this.

[justdimin]

Giving some advice to a newbie where in fact, he shows that he is more superior to him than you who is in the crypto space for quite some time is just a sign that you must leave him with the decision that he wants to.

Giving advice to a newbie is very relieving especially if he is listening on what you are saying. Now if he wants to decide for himself then better let them do what they want to do. Sometimes, making mistakes is the way for a person to learn and this isn't only applicable to investing but in real life as well.

That's something that should impact the thinking of someone who knows about finance and long term fundamentals of things. Someone who is a newbie would look at the chart, and see that it should be growing x10+ each time a bull run happens, and expect at least 200k, probably closer to 400k when the next bull run happens, and if that doesn't happen then they will think that they were misled.

Unfortunately we are not going to grow that big each time, it's growing bigger meaning the same, or even more money that you put in each cycle, could take it only a certain point. Growing from 1 dollar to 100 dollars was 100x, but it required less money than growing from 10k to 20k which was only 2x.

[lixer]

There is still potential in bitcoin for new investors to profit from market's fluctuations. We expect bitcoin is going to enter a new bull run on the next years which can boost its price to 100,000$ at least. That means there is a 500% profit opportunity ahead, being conservative on our predictions. Of course this is just speculation and that might happen or not, but that is a pretty consistent opinion among majority of bitcoin enthusiasts, which have been proven to be right on past events related to bitcoin's price. However, this might be the last chance for new investors to adopt bitcoin. We don't know how many rising cycles we are going to have yet. The next one can be the last...

If there's a potential for us then why not for them? Some of us only entered early but it does not mean that we still have our old coins. Of course we already sold it in the past bull runs and now we are looking forward of owning fresh btc's again.

In btc, we will always have a bear and a bull so even if you say that there is a limitation on high btc can get, at least its value can go down which will enable people to buy and earn again once it recovers so don't say that this can be the last chance for the newbies to buy a coin. There will always be more chance but it would be better if they can invest now since the engine of this coaster is about to start.

[Cryptmuster]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Most likely, this will be the case, and the main thing will be human fear. It's scary to make a mistake, no one wants to buy now if the price can fall even lower later, it's like the syndrome of eternal waiters. They are always waiting for the best opportunity, the best price, but the truth is that bitcoin could be bought in every bear market and every time it would bring a good profit...

[Ayers]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

Not literally I know them because they are anonymous but for sure there are a lot of early investors who make hold their Bitcoin for many years and become millionaires. But I think, they are already rich before risking their money in this new stuff which is not their worry to lose their money investing in Bitcoin earlier. I'm not sure if they foresee the future of Bitcoin but I see their trust and feeling towards the crypto market is strong to have that decision.

They deserve such huge achievement and market profit, and I remember these words " rich people become richer while poor people become poorer". They take this opportunity while others are rejected it.

i don't know if rich people invest in bitcoin, but i met a man who got rich on bitcoin and he was once an ordinary person. hhe's not rich but he probably chose to take the risk at the time to buy bitcoin, and now he deserves what he chose. a lot of people have become rich thanks to cryptocurrencies and not only with bitcoin, many people have also become rich by investing in altcoins. for me crypto is an opportunity for everyone who knows how to take advantage of it, bitcoin or altcoin is up to each person's preference as long as they know the risks when investing.

[jinmioluwaseyi]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

As a newbie that want to join the crypto space, I cannot advice you to jump on bitcoin again if you want to become a millionaire with crypto, simply because bitcoin have gone beyond repair. Bitcoin is not what some can venture into now because of the current price. Altcoin will be the advisable coin to venture into for a newbie, and if you still have it in mind to get a bitcoin, just buy the one your money can afford and you don’t want to put mind in it again. Bitcoin is a good coin but that regret of IF will never leave it. IF I had known in 2010 I should have use my food money to buy it. IF I have known in 2013 I should have use a month salary to buy. IF I have know in 2015 I would have save my 6months salary to buy it. Lol remember there is always a regret in the crypto space. So just get the ones your money can afford on bitcoin and buy some altcoin so that you will not regret on altcoin also later. That is my advice.

[jakdanyel]

It's always early for Bitcoin. We can easily say this, especially for the season we are in now. Because we can predict the values that bitcoin will reach in a few years. It will reach much more value than the value it is currently at.
Apart from bitcoin; bnb and ethereum also have very low value. The two coins I trust the most after Bitcoin. You can definitely buy it to invest. It is inevitable that Bnb will see a value of $1k in the next bull market.

[dothebeats]

Early for you to still buy and save as much as you can. People only look at numbers but never the benefit in the long run. It's easy to think about what could have happened now if you invested early, but not look far ahead into the future and just do the things you should now. If you managed to buy and keep whatever coins you have and save them for 5-10 years, you could have easily secured a huge sum in your name by just believing and not looking too much in the past. I am still actively buying now if I feel that the price is right, and those coins directly go to a storage which I intend to access a few years from now.

[Vaculin]

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar

I had the same problem when I first heard of Bitcoin. And I wasted 1.5 years mostly with worthless altcoins.
I was lucky and the period I've wasted matched a bear market. But will your brother be this lucky? I doubt it. 1.5 years is already after next halving.

So you better convince him to DCA instead of wasting his money in coins that now worth 1$ and in 2 years they'll worth less than 1 cent. He doesn't have to buy 1BTC, nor 0.07BTC. He can start with even 0.007BTC or less; let him start much smaller until he gets comfortable with all this. Just make sure he doesn't waste too much with various exchanges' withdrawal fees (since it can be very disappointing at small amounts).

Just tell your brother that if he wants to be a millionaire, then he should always ready to take the risk and not afraid to buy bitcoin even at its higher price. Bitcoin may be costly, but when it comes to profit making, it will also give us the huge returns more than any coins can made. Suggest him to do DCA with bitcoin, if he can’t do that, I guess he’s not destined to become a millionaire when halving finally happens.

[nullama]

Let's see:

According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million dollars

There won't be more than 21 million bitcoins, so I would start by grabbing one as there won't be enough Bitcoin for all the millionaires in the world to have just one.

[carlfebz2]

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar

I had the same problem when I first heard of Bitcoin. And I wasted 1.5 years mostly with worthless altcoins.
I was lucky and the period I've wasted matched a bear market. But will your brother be this lucky? I doubt it. 1.5 years is already after next halving.

So you better convince him to DCA instead of wasting his money in coins that now worth 1$ and in 2 years they'll worth less than 1 cent. He doesn't have to buy 1BTC, nor 0.07BTC. He can start with even 0.007BTC or less; let him start much smaller until he gets comfortable with all this. Just make sure he doesn't waste too much with various exchanges' withdrawal fees (since it can be very disappointing at small amounts).

Just tell your brother that if he wants to be a millionaire, then he should always ready to take the risk and not afraid to buy bitcoin even at its higher price. Bitcoin may be costly, but when it comes to profit making, it will also give us the huge returns more than any coins can made. Suggest him to do DCA with bitcoin, if he can’t do that, I guess he’s not destined to become a millionaire when halving finally happens.

Making yourself a millionaire or targeting out to be the one then you would be needing huge money for you to invest on and lets say you would be putting all in bitcoin then gradual buys on thousands amount

will be ideal or something realistic rather than buying yourself on hundreds and the accumulate but those amounts wont be enough for you to make a millionaire even bitcoins price would fly up so high.

Lets just make out some calculations yet 3x-10x on bitcoins price as of this current value would really be hard to consider out but since we dont know on what the future
holds or does have then it would matter on how much risks you could really put in.

[landheer]

indeed if you look at the price of bitcoin now and then it is indeed very far away. .compared to the past. but in my opinion, don't be greedy in investing because if our have a greedy nature, usually and most will make losses, because I have experienced it. and I think it's better to invest in bitcoin because the risk is not too big. whereas in altcoins the risk is very large. but of course people have different views.

[Gallar]

most beginners are like that, they look at the potential for a 100-1000% increase, even though it is also very risky, all do not know when buying
altcoins will go down or will go up, but in bitcoin, even though there is a decline, it likes to rise again significantly.

for beginners in crypto trading or investing,
look for crypto that is really quality, don't look at cryptyo from the price, but from the quality, for example like bitcoin, it's expensive, but it's the most quality and most superior crypto, it's better to buy little by little, but it's bitcoin, because in investing it Don't be in a hurry, just relax.

Later you will appreciate your struggle, so don't rush.

[silbertlee]

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

12 years ago, with a dollar($1), An investor can literally own a few thousands of Bitcoin, but today, an investor would have to spend at least, $20,000 to own one full bitcoin plus..(BTC1+)based on currently price that's a little above $19,000.

Knowing the above, I have this feeling that it scares small investors (that is those that can not afford up to 1 full bitcoin or even 0.5 bitcoin) from investing in bitcoin most especially, during bear market as we are currently experiencing.
Since one of the most reason why some people buy bitcoin is for monetary gains, they feel investing in bitcoin now can never make them the millionaire they dream to become, so they go for altcoins that are still very cheap instead thereby exposing their money to a higher risk for a higher gain kind of investment.

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar, according to him, he said that if he buys bitcoin at this current price, even if by 7 years from today, the price of bitcoin rises to $200,000 and above, it still will not give him the kind profit he wants, it won't make him a millionaire 🤣🤣🤣,

(please note that, I didn't bother calculating what 0.07 bitcoin would worth when 1 full bitcoin hits the price of $200,000)

 according to him again, he is ready to hold for at least 10 years, but he's not sure BTC0.07 would make him a millionaire in 10 years from now.
In the process, I gave the idea of making it a habit to save his monthly salary in bitcoin for atleast, 2 years while waiting for his target of 10 years, that by the end of that 2 years, his bitcoin balance won't be 0.07 any more, but a little close to BTC1 full bitcoin, and it's worth in dollars can even be much more if the price of bitcoin appreciate significantly in the course of the 2 years... He still refused, says he's not sure it will work out..

At the end of it all, I had no choice but to leave him to his choice, atleast, it saved me the stress I would go through trying to make him feel alright in the future if things later did not go as u envisioned for him.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Let's discuss.

If, there is no if in life. You buy bitcoin now, always before the next minute. Bitcoin is held for the long term. Think about it 10,000 times rather than do it once. My whole investment plan is very simple, I take out $150 every month, and every month I turn this money into bitcoin and put it in my little fox. I don't consider whether the price I'm buying is right now. See you in 5 years.

[Welsh]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

You're right it's easy to say I would've invested back in 2009-2013. However, Bitcoin felt different back then. It didn't have a proven record, it was a new concept, the software available wasn't as easy to use, and consumer confidence wasn't what it is today.

A lot of people didn't even think it would achieve the heights it has, at least not yet. A lot of users treated it as a gimmick. That was the attitude back then. Few actually realised the potential, but even those were shocked by how quick Bitcoin sky rocketed.

Today, it's easier to buy Bitcoin. There's more options in terms of exchanges, and there's more people looking to trade. Not only that, consumer confidence despite current prices is higher. Since, we've already seen Bitcoin x3 the amount of what it's today, and people are hopeful that will happen again. You didn't have that back in 2009-2013.

Most people who say they would've invested, probably wouldn't have. Hence the reason they didn't discover Bitcoin, they wasn't seeking an alternative at that point, and therefore wouldn't have seen Bitcoin as an alternative.

[Yatsan]

Never too early to invest not unless you are wanting to buy on a market price as low as it was when it was released or still not popular;that would be impossible. But if people who are asking whether they are late or not, to invest, then there are times to enter such as with what happened multiple times. The market price of not only Bitcoin but majority of cryptos are down at this moment or this year. They may use the advantage to enter or invest and wait for pump to happen if not within this year, maybe next year. Just invest an amount you can afford to lose in order to avoid regrets.

We have seen it countless times. The market price would fall;investors are hesitant to invest. Market price would go up; investors are hesitant and they will wait for the value to again fall. But during bull run, falling of prices is a bit hard to see so they will end up buying on a higher market price than it should, if they bought early. You guys decide.

[Ultegra134]

As others have already mentioned, it's no use dwelling on the past. We don't know what the future holds for Bitcoin and cryptocurrencies. However, I honestly believe that the early days of Bitcoin are over. Before you jump to conclusions, my point is that you can no longer obtain a large amount of Bitcoin with, say, $200–300. Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

My point is that, compared to the earliest stages of Bitcoin, we don't have the same opportunities. $1000 back then could potentially make you a millionaire, providing that you held till the last few years. Now however, the same amount of money hardly makes you millionaire, no matter what.

[nullama]

Anyone can start saving in Bitcoin today.

That makes no one late to anything.

If a person is able to acquire bitcoin today and still have control of it in 13 years into the future, they will probably hold more value than what they hold today.

It's irrelevant to think about what you didn't do in the past, you should focus on what you can do today.

[buwaytress]

Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

We won't have the same opportunities as a guy in 2013, sure. But whereas it'd be a guy throwing down money on Bitcoin one off in 2013, we're now talking about different opportunities like DCA today.

In 2016 when I was first freelancing and asking for BTC, people were saying the same thing, that it's too late now to buy BTC and hope for x10 (BTC would x35 or so a year and a half later), but if you'd DCA'd then, you'd have not $200 but maybe $2000 by the time the rally began.

The same I would say for a DCA starting today. Regardless of what happens to price from now until a year after the next halving, that's about 30 months of DCA opportunities. $200 a month is going to be $6000, it's a great amount of savings to have, and who knows what happens by next ATH?

(Rough examples, just for its sake)

[krishnaverma]

We are still in early stages and there is lot of growth prospect for crypto. The value or price of bitcoin will only rise from here because:

1) There is a limit to how many bitcoins can exists in total. As we approach that time, the value of each bitcoin will increase because of scarcity. So if you buy now and hold for long term, you will always be in profit. Juts make sure that you do not loose faith because of small swings or downfalls in the price of BTC.

2) A lot of new investors will also start investing in bitcoin with time. This means that the demand for bitcoin will automatically increase which also move the prices up.

3) The awareness related to bitcoin and crypto will also increase. When other countries will see that a particular country is benefitting from encouraging the growth of crypto, they will also follow the same route.

[_BlackStar]

Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Bitcoin is not ponzi scheme and they should know that nothing will guarantee rich for these investors in future despite the fact that over the last decade bitcoin has produced many new billionaires. I don't think your friends should think of bitcoin as a means to get rich in the next 1 to 10 years because any price increase higher than now is speculative.

Bitcoin has good potential to become more expensive investment asset in future, that's right because at the moment bitcoin is in a new stage of being widely adopted as currency or means of payment. This will greatly support bitcoin in a positive way where demand is likely to increase. If your friend can't afford 0.5 btc now, then suggest him to buy in any amount whatever his financial ability. That's much better than nothing.

[qwertyup23]

As others have already mentioned, it's no use dwelling on the past. We don't know what the future holds for Bitcoin and cryptocurrencies. However, I honestly believe that the early days of Bitcoin are over. Before you jump to conclusions, my point is that you can no longer obtain a large amount of Bitcoin with, say, $200–300. Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

My point is that, compared to the earliest stages of Bitcoin, we don't have the same opportunities. $1000 back then could potentially make you a millionaire, providing that you held till the last few years. Now however, the same amount of money hardly makes you millionaire, no matter what.

You are definitely right- like what I also mentioned to similar posts like these, the best time to invest in BTC is the time you discovered it!

While majority of us missed the golden opportunity of investing into BTC in its early and glory days, all hope is not lost since the opportunity that we have is we know about its existence. The rule is that we must at least invest now and save it for long-term. To be honest, the present days are the days that we will look back 5-10 years in the future- that is why, consider it as a blessing once you discover the existence of BTC and invest at least some savings on it!

[Viscore]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Nothing changes actually, people just keep ignoring opportunities and regret later. Now, bitcoin gives another opportunity again to buy at a very good price, but still people will always wait for another price recovery before they’ll decide to buy. And when the price recovers, people will wait again for a higher price for bitcoin before they finally invest. Bitcoin is no longer in its early years, but people fail to see it and still rejecting every chance to invest in bitcoin. The reason while many of the bitcoin investors have succeeded, there are also a lot of people regretting hoping they bought bitcoin in its early years.

[serjent05]

If we are comparing the price on how early it is if we buy BTC today. then I think it is as early as 2018 since the price range of Bitcoin today is the same as price range last 2018.  So basically we are buying BTC at a price of 4 years earlier.

Nothing changes actually, people just keep ignoring opportunities and regret later.

I do not think they are ignoring it, it is either people who don't have enough knowledge, don't have enough faith, or don't have enough money to buy BTC.  With the pandemic and the effect of war, people are struggling to meet their day-to-day needs.

[nullama]

If we are comparing the price on how early it is if we buy BTC today. then I think it is as early as 2018 since the price range of Bitcoin today is the same as price range last 2018.  So basically we are buying BTC at a price of 4 years earlier.

Nothing changes actually, people just keep ignoring opportunities and regret later.

I do not think they are ignoring it, it is either people who don't have enough knowledge, don't have enough faith, or don't have enough money to buy BTC.  With the pandemic and the effect of war, people are struggling to meet their day-to-day needs.

Yeah, I think that's the thing.

People are busy, living their lives, etc. Not everyone has the required free time to learn about how money works, how bitcoin works, then learn how to do everything, etc.

Also many people just don't know about it. Usually every new ATH brings Bitcoin to the mainstream a bit more, and more people spend some time to learn about it.

It's a slow process that will take years or decades.

[Gallar]

when it comes to choosing which crypto is more profitable and has more potential, of course bitcoin is number one.
because the risk is small, and when the profit is also quite large.

what about altcoins,
indeed the price is still a lot under $ 1 and sometimes when the profit is very fantastic.

but the risk of loss can also reach 90% or even 100%.
In essence, don't be tempted by big profits, but the risks are also big.
better standard and the price is quite expensive, but the level of loss is small.

[Lien Uiryen]

As an investment, instead of giving exact advice to others, you can make a few suggestions and let your friends make their own decisions.
People always complain when they see future results why they didn't spot this opportunity sooner. Assuming you don't come back in time with memories, would you choose to invest in Bitcoin? You look back now only because you already know the outcome.

[Ultegra134]

Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

We won't have the same opportunities as a guy in 2013, sure. But whereas it'd be a guy throwing down money on Bitcoin one off in 2013, we're now talking about different opportunities like DCA today.

In 2016 when I was first freelancing and asking for BTC, people were saying the same thing, that it's too late now to buy BTC and hope for x10 (BTC would x35 or so a year and a half later), but if you'd DCA'd then, you'd have not $200 but maybe $2000 by the time the rally began.

The same I would say for a DCA starting today. Regardless of what happens to price from now until a year after the next halving, that's about 30 months of DCA opportunities. $200 a month is going to be $6000, it's a great amount of savings to have, and who knows what happens by next ATH?

(Rough examples, just for its sake)

Certainly, opportunities back then were pretty much endless; with a small amount of money, you could acquire a decent sum of BTC. However, that only applies if you've actually held that amount, and the truth is that most of us would have sold it the minute it doubled in value. Regretting what you did or could have done otherwise puts us in a vicious cycle; it leads nowhere.

To be honest, supposing I had bought BTC at $200 each, I'd be extremely tempted to sell at $1000, a price difference that may sound insignificant now, but it was a huge deal back then. The exact same thing will also occur when BTC recovers from ~$20,000 to $30.000.

It's not over yet, we're far from it, there are still an abundance of opportunities out there.

[Hamphser]

As an investment, instead of giving exact advice to others, you can make a few suggestions and let your friends make their own decisions.
People always complain when they see future results why they didn't spot this opportunity sooner. Assuming you don't come back in time with memories, would you choose to invest in Bitcoin? You look back now only because you already know the outcome.

Even if you do wish on getting back in time but having no knowledge about the outcome or future results then for sure even up to those early days then you cant really be still that confident
on buying unless if you are aware then you would definitely buying tons. 

Its true that you can only say up things since you do know the outcome but if not then you would really be hesitating.Same goes into the current state that we are in.
There's no such thing about guarantee and there's no such thing about knowing about the future or making out conclusions.
Speaking about Bitcoin future then we dont really know on how far it would really be able to increase out but if you could put up some risk
towards your investment then it isnt really that bad to consider on throwing up some bucks for long term investment with Bitcoin.Now that we are on a bear
market where everything is really that cheap for you to get in.

[uchegod-21]

As long as bitcoin continues to exist and also the cryptocurrency continue to grow there will always be an opportunity for anyone at any time. Even if bitcoin rises to 100,000 dollars there would still be another opportunity because it will eventually get to 200,000 dollars . The only problem or difference is that the amount of opportunity presented by bitcoin today may not be the amount of opportunity it will present by next year but in anyways there must always be a buying opportunity because the market will always be going up and down. Bitcoin is cyclical

[Ummarr]

No one knows what will happen in 120 years as we don't have a crystal ball. There are more and more people going to exchanges like Binance, Primexbt, kraken

[Desmong]

Anyone can start saving in Bitcoin today.

That makes no one late to anything.

If a person is able to acquire bitcoin today and still have control of it in 13 years into the future, they will probably hold more value than what they hold today.

It's irrelevant to think about what you didn't do in the past, you should focus on what you can do today.

One of the reason why we need to be very agile when investing in Bitcoin is for us to keep our seed phrase very closely so that we will not lose it that will make us make severe error of blaming ourselves why we ever invested in cryptocurrency.
Bitcoin is very good for investment but it we missed it all we might end up blaming ourselves why we never invested in it. If you say this is the best opportunity for us since the market is down then that is fine.

[darkangel11]

No one knows what will happen in 120 years as we don't have a crystal ball. There are more and more people going to exchanges like Binance, Primexbt, kraken

Exchanges will appear and disappear but the number of bitcoins  in circulation is limited and will keep going down.

I think that it's not early but it's also not too late. In time the expected profit will decrease but that doesn't mean you'll lose money. You will gain money just not 100x like you could 10 years ago. It's more like 5x now but that's still a great profit especially that you're gaining self sustainability, independence. No other investment gives you that. Even buying your first house can't compare.

[Wiwo]

This thought is based on an experience I had with my brother yesterday, he is just joining the space, and he has some money that he wished to invest in crypto, I advised him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that its price is still below a dollar, according to him, he said that if he buys bitcoin at this current price, even if by 7 years from today, the price of bitcoin rises to $200,000 and above, it still will not give him the kind profit he wants, it won't make him a millionaire 🤣🤣🤣,

Let's discuss.

I read through the entire piece but I choose to reply to this portion of the piece, your brother is just being greedy already before he start his cryptocurrency journey with the way his focus on profit maximization in short term this could lead him to invest in a shitcoin/Ponzi alike form of projects that promise invested x profits within a month of investment, this kind of decision will lead him into frustration when the opposites happen and the coin failed to pump as expected or the coin becoming a pump and dump project just like the other schemes around the crypto industry that has drained investors money to finance CEO lavish lifestyle. The recent FTX situation should teach us some lessons about never trusting centralized projects.
But if your brother buys bitcoin steadily and consistently, he can accumulate enough Bitcoin that can turn his life around and also give him the chance to build knowledge around the bitcoin technology that could aid him in a lifetime of financial freedom via knowledge and decentralized alternative that bitcoin offers.

[proud55]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Exactly...I cannot even imagine reading this post in 2028.. Who knows what the future of Bitcoin holds.

∞/21million

[Vaskiy]

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Exactly...I cannot even imagine reading this post in 2028.. Who knows what the future of Bitcoin holds.

∞/21million

With every halving we used to experience some push in the price. With time the market too have widened. This confirms the growth with bitcoin and top cryptocurrencies to some extent. However we don't know what really happens. Based on assumption it is true, we will feel bad of thinking about today when years have passed.

[nullama]

No one knows what will happen in 120 years as we don't have a crystal ball. There are more and more people going to exchanges like Binance, Primexbt, kraken

The future of Bitcoin might be similar to the present of the web.

In the beginning of the web, everything was great, and pretty decentralized.

Then companies realized they can make a lot of money with it.

Then the web started to become centralized, and people started to use those companies more and more.

Because it's easier to just use Google, or Facebook, etc, then just doing your own website or whatever you need, then centralization continued.

Similar in Bitcoin, in the beginning there were no companies behind it, but quickly companies realized they can make money there as well.

So now we have exchanges, banks, and many companies that make it easier for people, but it ends up being way more centralized than it used to be.

The future will depend on what the people do with Bitcoin.

[Prince Malik]

To be honest sometimes i feel that im still early but when i remember that Bitcoin was at lower price than 1$ i feel disappointed, I can't lie to myself and say that im early and i really think that I wasted a hige life opportunity because i heard about Bitcoin back in 2015, but unfortunately i wasn't brave enough to invest my money on it

[nullama]

To be honest sometimes i feel that im still early but when i remember that Bitcoin was at lower price than 1$ i feel disappointed, I can't lie to myself and say that im early and i really think that I wasted a hige life opportunity because i heard about Bitcoin back in 2015, but unfortunately i wasn't brave enough to invest my money on it

It's definitely not early in 2022 in terms of Bitcoin as a whole.

To be that early you would have needed to be CPU mining in 2009.

But it doesn't matter because you can be early in other stages of Bitcoin.

For example some people were early in the GPU mining stage

Others in the ASIC mining stage.

Others in the Lightning era, etc.

Each stage has it's own pros and cons.

You can be early to any future stage.

You can now for example create a service based on lightning, that would not have been possible in 2009.

[wxa7115]

To be honest sometimes i feel that im still early but when i remember that Bitcoin was at lower price than 1$ i feel disappointed, I can't lie to myself and say that im early and i really think that I wasted a hige life opportunity because i heard about Bitcoin back in 2015, but unfortunately i wasn't brave enough to invest my money on it

There is no point in regretting something you cannot ever change, we need to concentrate on what we can control and that is getting bitcoin now that is trading at a huge discount compared to its all time high.

It is true that when we compare its current price to the price it had many years ago it may seem as if we are late, but we also need to take into account that people back then took a risk as no one knew if bitcoin will actually succeed, while anyone investing in it right now has way more evidence that this has in fact a high chance of happening.

[Gallar]

Beginners should be able to open their minds, because if they keep thinking like that, they will always be haunted by regret.
don't think too deeply about bitcoin in the past, because it's already passed, don't regret it for the umpteenth time, because you only see nominal.

bitcoin is the most superior and least risky crypto.
altcoins also have their own advantages and disadvantages, but high risks will always haunt you.

it's better to invest in bitcoin, even though you can't buy a full bitcoin yet,
because everything also has to start from small things.

[blockman]

To be honest sometimes i feel that im still early but when i remember that Bitcoin was at lower price than 1$ i feel disappointed, I can't lie to myself and say that im early and i really think that I wasted a hige life opportunity because i heard about Bitcoin back in 2015, but unfortunately i wasn't brave enough to invest my money on it

Well, we can't go back to the time when it was totally cheap because people thought that it was internet magic and online currency scam thus, they missed it when it was totally cheap.
That's okay, we're still here and bitcoin's still there but this time it's more expensive than before. We're still in the early days and the potential of it is great and the sky is the only limit of it. We've heard it mostly long time ago but we didn't obliged when we've heard it but just only remained to be curious.

[_BlackStar]

There is no point in regretting something you cannot ever change, we need to concentrate on what we can control and that is getting bitcoin now that is trading at a huge discount compared to its all time high.

It is true that when we compare its current price to the price it had many years ago it may seem as if we are late, but we also need to take into account that people back then took a risk as no one knew if bitcoin will actually succeed, while anyone investing in it right now has way more evidence that this has in fact a high chance of happening.

One has the right to regret anything in the past, but of course that won't change anything now. They just need to learn that something new can be very risky especially in the early years but when they neglect it there is no need to regret it today.

I also wouldn't have dared to invest thousands of dollars in bitcoin in the early years ^{[if I knew bitcoin],} that's because of the lack of exchanges to trade it on. In the past bitcoin was never as glorious as it is today, so regretting it probably doesn't make much sense. Today is an opportunity, so they should just consider investing instead of regretting the past.

[wastagnn]

Anyone can start saving in Bitcoin today.

That makes no one late to anything.

If a person is able to acquire bitcoin today and still have control of it in 13 years into the future, they will probably hold more value than what they hold today.

It's irrelevant to think about what you didn't do in the past, you should focus on what you can do today.

Even investors who bought early may not necessarily be able to hold until now.
It is never too late to invest in Bitcoin, we are still in the early stages and there is a lot of potential for future growth, now is a great time to start. Learn to grasp the opportunities in the future, and maybe you can get huge profits when the price rises in the future.