The biggest advantage early Bitcoin investors had wasn’t money

[Antonixx]

Honestly, I don’t think early Bitcoin investors succeeded just because they bought cheap coins.... their real advantage was conviction.

Today, buying Bitcoin feels much easier because millions of people already believe in it. There are ETFs, institutions, medias, lots of big companies talking about adoption everywhere… but imagine holding Bitcoin back when most people called it stupid, dangerous, or dead every few months lol. The kind of belief they had takes serious patience mehh.

Even now, with all the informaton available on and off the internet, many people still panic during corrections, they stop buying when fear enters the market, and keep looking for reassurance from the crowd before making decisions.

it honestly makes me wonder… If people struggle to hold conviction today with all the info, would they really have survived being early investors back then?

Sometimes I feel people admire early Bitcoin holders without realizing how emotionally difficult it actually was to become one. Special respect to them, they deserved their accolades

[Zaguru12]

Today, buying Bitcoin feels much easier because millions of people already believe in it. There are ETFs, institutions, medias, lots of big companies talking about adoption everywhere… but imagine holding Bitcoin back when most people called it stupid, dangerous, or dead every few months lol. The kind of belief they had takes serious patience mehh.

This is the reason why i actually think and usually say it out that people who bought early and hold are definitely different from those who are just starting their investment of recent because let’s be honest this were the people that you would boldly say that yes they had the real conviction and not just chasing after trend like we do now.

Usually you would see people now saying if they had heard of bitcoin in the early days they would have bought plenty of it and I usually say that there is a greater chance that even if some of them had actually heard of bitcoin then they would have not invested in it and could have even been among those who even called it Ponzi schemes then.

For the best reward for been early is having that very low price advantage and certainly it is deserving to them for been this confident when many people were actually looking away.

[Rashlyowl]

Money is not an obstacle for someone who wants to own BTC in the early days, even 13 years ago we could have 100 BTC with the $100 we put in. Main problem lies in doubt, the ridicule that believers get from many doubters in social life.



When I talk about $1 per BTC, it refers to the legendary thumbnail above. At that time, only a few believed in BTC because of their ignorance, or they knew but were doubtful that they would make anything out of it, in other words, they were not sure about the future of BTC.

[qwertyup23]

Honestly, I don’t think early Bitcoin investors succeeded just because they bought cheap coins.... their real advantage was conviction.

Today, buying Bitcoin feels much easier because millions of people already believe in it. There are ETFs, institutions, medias, lots of big companies talking about adoption everywhere… but imagine holding Bitcoin back when most people called it stupid, dangerous, or dead every few months lol. The kind of belief they had takes serious patience mehh.

Remember the guy that sold 10,000 worth of BTCs just to purchase two (2) boxes of pizza at that time? To be honest, I do not really blame him for doing that. I mean, at that time, BTC was close to nowhere in its value today. The idea behind a payment method where it reflects on a public ledger, which is unalterable, was so new and revolutionary but most didn't see the vision. The moment that an opportunity came of using those coins to purchase something concrete was literally a dream for that person.

While I do agree that both conviction and commitment are essential factors that the early investors missed, still, I wouldn't blame them for selling their coins during that time. Who knew that its price would skyrocket to its price today?

Now that we know better, make it as a lesson to everyone to HODL their BTCs for long-term investment. Personally, I firmly believe that the price of BTC would skyrocket once again 10-20 years from now like what happened in the past.

[CTO114]

Well, the bravery of the early Bitcoin users is quite admirable, a reason why they enjoyed a plethora of advantages.
They were willing to endure; volatility, ridicule, uncertainty and regulatory fear.

A lot of persons mostly adopt revolutionary technologies like Bitcoin when infrastructures exist, and when lower risks are on display. Early users operated before any of those came into existence.

A huge reason why the wealth distribution of Bitcoin resembles the early adoption of the internet age; those who understood the potential shifted before the society gained disproportionate rewards.

[Cryptomultiplier]

A perfect example of a Bitcoin investor that was convinced about Bitcoin before it became notable today is Laszlo, who is known for his role in Bitcoin pizza day celebration.
He originally mined Bitcoin using GPU instead of a CPU and sold it to get two large Papa Johns pizza and this helped make Bitcoin relevant by proving it could actually be used as a medium of exchange for tangible, real world goods.
Bottom line is that Laszlo didn't have real funds to invest but had the knowledge and conviction and knew how to apply it in the tight direction.

Today, many investors rush in to just have a piece of the pie that may not even be worth much because what's left to be mined is about $1 million. It's not a problem though, but before investing, make sure to have the conviction and proper knowledge of risk management practices involved so as to be successful at it.

[SPIDERMAN008]

In the beginning, the price of Bitcoin was very low. At that time, it did not cost so much money to buy Bitcoin. At that time, those who hold patiently were successful. Because since they were able to buy Bitcoin at a much lower price, they did not have to panic so much due to volatility of BTC  prices.

At that time, people did not have to invest the necessary money to buy Bitcoin. As force selling incident was not seen there frequently . No one could have imagined that the price of that Bitcoin would become so high. That is why many did not save the seed phrases seriously. But those who are aware about that and somehow they think about giving important of bitcoin  they were really successful .