If you Knew About Bitcoin in 2010 Would you Really Have Been a Millionaire?

[PremiumcryptoHub]

You should understand that most Nigerians at that time did not know about Bitcoin and the digital currency did not have much influence in Nigerian society. Still, if I, as a Nigerian, had been fortunate enough to know about Bitcoin at that time and had been able to hold on to it patiently, I would have definitely become a millionaire. But the point is that when Bitcoin was created or in 2010, not many people knew about Bitcoin and no one could have understood the future potential of this currency, so even if we Nigerians had Bitcoin at that time, many would have sold it for a small profit and many would have sold it before the price skyrocketed. However, it is true that some Nigerian Bitcoin OGs are probably benefiting the most because they have been holding Bitcoin ever since.

[Obim34]

Maybe, can't fully say yes, although very likely, not exactly 2010 or the first year or two after Bitcoin was created, possibly at the time when Bitcoin started getting recognition.

If I hadn't bought Bitcoin, maybe i would have earned some through faucets, perhaps along the line i will buy.

[Antotena]

You should understand that most Nigerians at that time did not know about Bitcoin and the digital currency did not have much influence in Nigerian society. Still, if I, as a Nigerian, had been fortunate enough to know about Bitcoin at that time and had been able to hold on to it patiently, I would have definitely become a millionaire. But the point is that when Bitcoin was created or in 2010, not many people knew about Bitcoin and no one could have understood the future potential of this currency, so even if we Nigerians had Bitcoin at that time, many would have sold it for a small profit and many would have sold it before the price skyrocketed. However, it is true that some Nigerian Bitcoin OGs are probably benefiting the most because they have been holding Bitcoin ever since.

In 2010, I don't have a laptop or PC of my own, the only phone I had then was Nokia C1, I think Nokia was dominating Africa then as number one phone producer. With all the information available, I don't think to do most of the things OP was talking about will be possible because to own a wallet address will be hard that time except if you decide to use a paper wallet then, that's the only thing my phone can do but to buy, I don't think my phone could do any of those.

We were behind with technology that time, how many house hold in Nigeria can be bold to own a laptop that time, if you do then it's for studies and maybe for family function, that's the main purpose of a laptop and PC. Anything other than that, your parent might consider you to be doing anything. Imagine using family PC to mine Bitcoin, you are in big problem that day. I don't think data was even cheap that time to use PC to mine that time.

[Makus]

no one actually expected this as at 2010, those that benefitted from it had started their investment quite early. There is this popular guy from the United States that kept on talking about investing in bitcoin back then but alot of people didn't pay attention to it.  I knew about bitcoin back then but I doubted  it's potential. But this is actually wishful thinking, now is time to start focusing on accummulating more bitcoin because in the long run because in the long run a lot people are not going to take advantage of the opportunity they have

[Youngrebel]

I was not part of the people who knew Bitcoin as of then. And there was different between known bitcoin and investing in it. People knew Bitcoin as of then but they thought it was one of those Ponzi scheme. From news, bitcoin became popular from 2015 and 2016. But what you said is the truth, as of then the price of Bitcoin was very low so if someone notice it earlier and invested by now those people would have making cool money with investment.

In 2010, the price of 1 Bitcoin was $0.39 and dollar to naira exchange was #150 so if someone used $10 to buy Bitcoin as of then he would have enough Bitcoins now and he would be a billionaire.

[Gifte001]

I can't say yes to that in this life that we are, what we don't know pass us. As of 2010 I don't really knew about bitcoin then. It was around 2014, 2015 i heard about it and then what i was doing still required money , but hard it been i knew about it I'll invest on it. In 2009 i was seeing cash daily from where I used to hustle then

[Silikiem]

Well it’s very easy to say yes to this kind of question but in reality not everyone will be millionaires if they knew about bitcoin since 2010. One thing is to know about bitcoin and another thing is to invest in bitcoin, not just investing in bitcoin but doing it in the right attitude and mindset. Long ago many people who invested in bitcoin were only in for a quick profit, that means they buy and sell immediately they notice a little increase in price, which is the way of traders and of course there’s no meaningful return as a trader. To really be a millionaire after knowing about bitcoin in 2010 requires you to have accumulated some decent amount of bitcoin stash and hodl over the years without panicking to sell or even selling, it’s not really easy to hodl bitcoin that long especially with the limited knowledge as of then, but I still believe that there are most persons who will be millionaires now with the kind of knowledge they have now In bitcoin, if applied to it in their accumulation pattern and holding for long term purpose.

[ejikeme24]

~nip

Well if you ask this question to a lot of people it's pretty much very easy for them to say yes and in reality it's not always the case. It takes a very calculative person and someone with a very good psychology to HODL that long without wavering to sell off after a while. Some persons had the opportunity but never believed in it.

Talking of psychology to HODL for Long, even this current stage majority of the investors doesn't have the psychology to HODL for Long, it seems that this generation is even more worst than the Old because they lack patient. And you're right when you said that some people had the oportunity back they don't believe it, I just feel that they don't just trust themselves being around the crypto market and it is just like what is happening nowadays. a lot of people have heard about Bitcoin and it's potential but they are just scared to risk their money in it. Maybe in the next 5-10 years you will see them regretting bitterly, So no matter what, there will always be a miss of opportunity, while those who are willing to take risk irrespective of what it brings will continue being lucky.

[Chinesebaby]

We always think about our past why I didn't know about Bitcoin if I could buy even 10$ worth of Bitcoin in 2010 I would be a millionaire now.. But Even if you know about Bitcoin in that time and know the potential it could be extremely difficult to own Bitcoin from Nigeria. There was many reasons for it.

Back then in 2010, the primary means through which people own and made use of Bitcoin was with the use of desktop computers, and back then, it is obviously clear that only a few people had desktop computers back then, which where mostly the rich people and those who did computer businesses by typing and printing documents for the general public as a business. Unlike now that the majority can now but, hold and transact with Bitcoin from their smartphones. So if I had own Bitcoin far back in 2010, depending on how convinced I was about the project, I would have been a millionaire today. Because the truth of the fact is that it's not everyone who own Bitcoin far back in 2010 that is a millionaire today, because some people sold all their Bitcoin when it's price skyrocketed just 5x of $10 and some other lost access to the wallets where they own their Bitcoin. So it's true, some people would have done the same because they never knew the project will be this successful.

[Agbam]

One thing is knowing the other is investing. Many people knew about bitcoin in 2010 but a lot did not invest in it. Many thought it was scam or something not trust worthy. The people who invested are the people who truly knew bitcoin even at that a good number also did not fully trust it cos some sold theirs too early.
If I had known about bitcoin the way I know it now in 2010 I would have surely invested and would be a millionaire right now.

[Btcdeybodi]

You should understand that most Nigerians at that time did not know about Bitcoin and the digital currency did not have much influence in Nigerian society.

You are very correct, in 2010 i don't think that Nigerians knew about bitcoin then and even if there were people that knew about bitcoin, i argue if they actually invested. I only heard about bitcoin in 2014 to 2015 during the then MMM ponzi scheme but just like i said, i only heard about it but i didn't know about bitcoin then. It was in 2016 that few people in Nigeria knew more about bitcoin but yet it wasn't that popular. Though google has it that Gaius Chibueze was the first man in Nigeria to invest in bitcoin when the price was around $35 but i don't know how true it is.