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 .  

[sokani]

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.

I think Laszlo's case was different. He didn't sell the 10,000 BTC, as most early bitcoiners that are weak-handed did. He used it to make a purchase, and mind you, it's not as if he didn't have any Bitcoin left. According to information, he was an early developer who actively mined Bitcoin, and as such, it won't be wrong to say he had some Bitcoin he was holding onto.

[PrivacyG]

The advantage was never money anyway.  If you purchased 50 Dollars worth of Bitcoin when Bitcoin was 10 Dollars a piece, you would have around 400 thousand Dollars in your wallet today.  The lower the price of one Bitcoin was, the higher the return obviously.  So there were times where you could 'purchase 400 thousand Dollars' for as much as a coffee was worth or even less.  See the pizza example someone else gave above.

But to have the conviction to hold on to Bitcoin from a couple tens of Dollars worth to as much as almost half a million Dollars, they have to be crazy and delusional too.  I am sorry but as much as Bitcoin looks promising today, it is like telling me Bitcoin will eventually reach a billion Dollars per piece.  Even if you end up being right and will hold until that day comes.  You are clearly delusional to not sell at 10, 100, 1000 or even 10000 times what it was initially worth.

[Dareo]

But not everyone in the beginning had such strong beliefs. Like Charlie Shrem who worked a lot with Bitcoin in the beginning, could not hold on to many of his BTC due to various problems.  At that time the future was not so clear, so many old people also left due to fear or personal problems. That's why it was not only possible to succeed by entering early but also to hold on to it until the end.

[Churchillvv]

Some of them who bought earlier except for those who still hold till date are merely like what you are trying to explain that it was a matter of conviction, they really never hard enough conviction but they had a little better than the people who are getting into it. The OGs of bitcoin are called visionaries for a reason, it’s because they are able to endure the ups and downs that came for bitcoin and still believe it could worth more over the years. Like Lazio who bought pizza of tens of thousands of bitcoin, he was a visionary but not for too long so he spent them even though we don’t know if he still had more has more in his custody till date.

[macson]

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

It's true that people only see that they have so much money from the Bitcoin they currently hold, but without realizing it, getting to this point wasn't easy for these early adopters. It's about how their conviction persisted amidst doubt and market volatility, and how they remained strong enough to hold even when the temptation to sell was there, perhaps at $1,000, $10,000, etc. So these early adopters got what they deserved because of their conviction to hold on for years.

[Merit.s]

Having the confidence in bitcoin was what made them had the gut to buy and hodli because they have studied and understand bitcoin network but a lot of people then was ignorant and didn't try to learn about bitcoin and how it works. This was why the government was even spreading the FUD then because they believed that it won't survive without them but bitcoin proved them wrong because it has some kind of unique utility due to her decentralized nature.

[Franklyn-wood]

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

The early Bitcoin investors are to be called super heroes because they did a lot of work through patience and long time endurance while they where mocked by people and friends seen as failures and unreasonable people in the society who are making terrible mistake without calculating the risks involved. They are the ones use as source of confidence for all that are enjoying Bitcoin today on a platter of gold. I

[EluguHcman]

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.

No matter how you may twist it, the fact remains the truth that the earlier adoptors of Bitcoin where are advantage because they had the opportunity to buy very cheap when the rest of us were skeptic believing it is not worth buy such described as Decentralized and digital assets.

Buying Bitcoin when it was trading $1-$100 and so on is such undeniable advantage to be successful compared those who bought when the value had already made big names before it got sighted to be digital gold.
Of course it is not still late to buy Bitcoin now because the market is still promising to experience further ATHs with how adoption is quite soaring.
The advantage will always be at the edge of what time (amount) you bought.

Adopting the Bitcoin investment does not required conviction but the courage to face the risks that comes out of it as Speculation and volatile assets with the fact that there is no authority (s) to lean your trust.

[Stalker22]

~
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

Yeah, I agree!  The truth is, most people today who say, "Man, I wish I bought Bitcoin in 2011," would freaked out and sold the minute it dropped from $30 to $2.  If they cant handle a regular market dip now, when big companies and institutions are even involved, they would never made it through those crazy early days.

Back then, it wasnt just about money; it was a huge emotional battle.  I have big respect to the people who had the guts to hold on when everyone else thought they were crazy.  They totally deserved all that money.

[uchegod-21]

Early investors, whether they have already sold their bitcoins or are still hodling, need to be given that much respect for believing in Bitcoin at a time when the world had literally nothing good to say about it.

Someone like Laszlo Hanyecz, who bought pizzas with 10,000 bitcoins, still needs to be appreciated for being among the first set of people who took the risk to try it out.

People think early investors who sold their bitcoins will be regretting their actions now, but I think differently about this. These early investors should be proud to say anywhere that they were among the first set of people who believed Satoshi Nakamoto and his idea of a decentralized currency.

Those who should be regretting are those who knew about Bitcoin earlier but never believed it was real. I too wouldn’t have believed it.

[Synchronice]

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

The biggest advantage of early Bitcoin investors was that most of them were in their mid 20s or 30s or 40s, they had knowledge in tech, were working around it and they were the ones who had the first access to Bitcoin. Mining it and holding was not a big problem for them. Also not selling was not a big problem because why would someone sell a couple of hundred of Bitcoins just for a few bucks? But the biggest advantage early Bitcoin investors had was the ability of seeing the future and a huge patience. I think it would be extremely difficult to not sell tens of thousands of Bitcoins when the price was between $100 and $1000, so they deserve respect for that.

[SamReomo]

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

The early investors were the ones who believed in Bitcoin, who hoped that things in Bitcoin market will become better overtime. Some of them sold their bags when they saw Bitcoin at $10 per coin but a few didn't sell their Bitcoin for $10 instead for $100, and some for $1,000, but those who hold their coins till $100k were the ones who made the maximum profit from Bitcoin by being early investors. We also have investors who're still holding their Bitcoin investment and I believe most of them will not sell their holdings before Bitcoin reaches $1 million per coin.

[Rgram]

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.

Don’t be surprised, there are opportunities today that we are neglecting or not giving any much attention because, we don’t just have the foresight as most investors do.

While some persons where opportunists, being that they were able to discover Bitcoin way early and mined a great deal of it, while others actually bought, being able to hold it until it adds value proves just how far into the times they were on Bitcoin.

Bitcoin price has pumped today but even the price at this time can’t be compared to where we might find it in a decade. Even then, we would find those that would have regrets not to have bought at this price, even mare fractions of it.