Bitcoin investor 2006

[JaanusRaim]

No, I didn't get the number wrong    
Here, I am thinking about the investor who was already waiting for Bitcoin before it actually appeared.. Naturally, he didn’t know the keyword "Bitcoin," because it didn’t exist yet... he didn’t even know the official name for the asset class to which his dream asset would belong (private money, electronic asset...?).
Yes, he did not know the exact keywords. However, he was well aware of what he was dreaming of, and wrote down—perhaps not for others, but for himself (in his investment diary)—everything he knew about his dream investment: "An asset emerges that is essentially the product of calculations performed by electronic computers; its scarcity therefore stems from the resources—such as computing power and electricity—required to carry out those calculations. This asset begins to be traded on the market. Immediately after its creation, the asset’s price is close to zero. Over the following years, its price rises millions of times over, and in the near future, it achieves a market capitalization comparable to that of the largest stocks." That was all he knew, and that was all an investor needed to know.


Why am I dwelling on thoughts like these—about such distant times and peculiar people? Because I feel that a significant era (the first chapter in the crypto history) has come to an end in the 2020s.

Bitcoin is on the Moon, while all other cryptocurrencies remain under the influence of Earth's gravity. The price of Bitcoin is currently comparable to that of major stocks, and it does not even matter whether it grows by another order of magnitude or not. One thing is certain—Bitcoin has fulfilled all the dreams of its earliest investor (something other cryptocurrencies have not yet managed to do).
The only question is, when did this early bird discover the real Bitcoin? Was he RED OX (very unlikely), BLUE DRAGON, GREY COAT or PEIGE RAT*?



*The titles correspond to the various investor types proposed in my thread: "Different types of BTC (early) investors and their success rates" https://bitcointalk.org/index.php?topic=5586505.0

[OgNasty]

I think a lot of people were waiting for Bitcoin. The problem is there were lots of Bitcoins that made similar promises and always fell short. There was no way to know Bitcoin would receive the adoption it did. A lot of things had to go perfectly and did in order for Bitcoin to become what it is today.

[Moreno233]

This is indeed "super story" , a popuar television serious in my country. I have imagined the possibility of someone to imagine a certain type of investmemt in an idea that no one have not even imagined to create, not that the person is even planning to be the founder but hoping on others to create it some he can invest. That story did not add up though and even if it is true, I could be a mere imagination or pure luck. I wish you added a a reliable source to verify if ths was not fabricated.

[Hazink]

I think a lot of people were waiting for Bitcoin. The problem is there were lots of Bitcoins that made similar promises and always fell short. There was no way to know Bitcoin would receive the adoption it did. A lot of things had to go perfectly and did in order for Bitcoin to become what it is today.

What we have is a lot of investors who have seen a similar idea that bitcoin came out with a come and go without succeeding and they were waiting for that perfect one that could actually do it before bitcoin came in, but those investors did not just rush in, they waited for those with the idea and technical knowledge to mine and hold those coins first test run it and as time goes on they have to look beyond what it was actually seen as into what it could possibly be in future.

[Odogwu-Blockchain]

Something starts from somewhere, the name Bitcoin pops up from the divine realm of voice heard through the head, comes from the spiritual down to the earth. Thank God the voice was protected, covered untill the release, if it was exposed from the beginning, we wouldn't have been talking about it, people ruins good things early.

[STT]

I can remember that era and actually alot of people thought of an online currency not just maybe but an absolute requirement cross borders to facilitate trade.   Dollar has been flawed for generations now, losing money to inflation serving those who gain it cheaply who in effect are taxing us all by its usage.

  Advertising was called the backbone of small commerce on the internet, if you had some link to advertising you had a stream of currency and an active seat at the table as it were.  But many had nothing much, a few adventurous souls just took out debt gained market share maybe in a market that didn't even exist before with a few doing well.   I had friends who tried, wasn't easy and I do hope BTC makes it easier now as that is way more important that absolute pricing.

[JaanusRaim]

This is indeed "super story" , a popuar television serious in my country. I have imagined the possibility of someone to imagine a certain type of investmemt in an idea that no one have not even imagined to create, not that the person is even planning to be the founder but hoping on others to create it some he can invest. That story did not add up though and even if it is true, I could be a mere imagination or pure luck. I wish you added a a reliable source to verify if ths was not fabricated.

I do not know whether such a 100% conscious "Bitcoin investor 2006" existed or not. However, his existence was probable. If he existed it would be extremely interesting to read his (investment) diary: both pre-Bitcoin and post-Bitcoin writings.

[cryptomaniac_xxx]

I think a lot of people were waiting for Bitcoin. The problem is there were lots of Bitcoins that made similar promises and always fell short. There was no way to know Bitcoin would receive the adoption it did. A lot of things had to go perfectly and did in order for Bitcoin to become what it is today.

Yeah, it's like the evolution of man, before we can walk in 2 feet, there are several stages in our human history.

Just like in Bitcoin, there are a lot of precursor, like David Chaum DigiCash and eCash, it failed miserably because of this centralization. But Satoshi took it the next level and here we are right now, with Bitcoin and the rest of crypto.

So it takes some time for something to evolved to became a perfect "specimen".

[kingstep]

One thing is certain—Bitcoin has fulfilled all the dreams of its earliest investor (something other cryptocurrencies have not yet managed to do).
The only question is, when did this early bird discover the real Bitcoin? Was he RED OX (very unlikely), BLUE DRAGON, GREY COAT or PEIGE RAT*?

How certain are you that bitcoin has fulfilled all the dreams of earlier investors? as far as we know, early investors are not the ones we look out to when considering the real thing that bitcoin was designed to solve and wether or not such feet has been attained. we have currently surpassed what earlier investors ever imagined because they did not see too far into the future. it is only the inventor of bitcoin that can tell wether bitcoin has actually beat what they thought it will become and when we look at the problem bitcoin is supposed to solve, we can rightly say that we still have a long way to go because till the whole world adopts bitcoin, it still means that bitcoin has not conquered the major part of the world.

[Darker45]

Considering that the internet has fast developed a huge economy of its own, global at that, somebody must have been looking forward to a kind of currency that goes beyond borders and fits well with the characteristics of E-commerce.

As a matter of fact, even before the 2000s Milton Friedman has already envisioned a point in time when online transactions would be facilitated with money that's less controlled by governments.

But before Bitcoin, there were already decades of trials and errors. With Bitcoin successfully finding the right system to maintain a decentralized network, it's possible somebody must have thought 'this is it'.

[aoluain]

Is the OP talking about someone specific or is it a metaphor?

There wasnt just one person, there was a group of people already working on similar projects
to Bitcoin - they were the Cypherpunks. It was only a matter of time before Bitcoin would emerge.

The foundations were already laid by projects like HashCash by Adam Back and B money by Wei Dai.

I wrote an post about it before > https://bitcointalk.org/index.php?action=profile;threads;u=965440;sa=showPosts;start=100

[Zoomic]

It's one thing to have a vision and and another thing to identify the right solution to problem.

 I believe that that there were people who were hoping for a decentralized digital currency before Bitcoin came to existence.

There were also failed projects that came in the form of Bitcoin but couldn't succeed and that's why a lot people then couldn't believe that Bitcoin will succeed. They didn't know that that the one digital currency that'll survive every cycle had finally arrived.

[DPHOR]

To frank seeing that we have a strong digital asset that stood so strong till date is something that one can imagine, of course as we know there is a reason for this, thus even the government has tried their possible best to make sure the coin didn't exist or are in their own control but, the creator knows what he did and was fully aware that it will face difficulties and challenges that is why after creation he made it in way where no one can be able to trace him or track him, only that will it be strongly and firmly stand till date that is why we have Bitcoin today. For sure, he knew what he was doing and everything happening today in Bitcoin price are all calculated math and, if I could recall correctly that was mentioned.

[JaanusRaim]

Is the OP talking about someone specific or is it a metaphor?

There wasnt just one person, there was a group of people already working on similar projects
to Bitcoin - they were the Cypherpunks. It was only a matter of time before Bitcoin would emerge.

The foundations were already laid by projects like HashCash by Adam Back and B money by Wei Dai.

I wrote an post about it before > https://bitcointalk.org/index.php?action=profile;threads;u=965440;sa=showPosts;start=100

I am talking about someone specific (and I am 95% sure that such person(s) existed).

One thing is certain—Bitcoin has fulfilled all the dreams of its earliest investor (something other cryptocurrencies have not yet managed to do).
The only question is, when did this early bird discover the real Bitcoin? Was he RED OX (very unlikely), BLUE DRAGON, GREY COAT or PEIGE RAT*?

How certain are you that bitcoin has fulfilled all the dreams of earlier investors? as far as we know, early investors are not the ones we look out to when considering the real thing that bitcoin was designed to solve and wether or not such feet has been attained. we have currently surpassed what earlier investors ever imagined because they did not see too far into the future. it is only the inventor of bitcoin that can tell wether bitcoin has actually beat what they thought it will become and when we look at the problem bitcoin is supposed to solve, we can rightly say that we still have a long way to go because till the whole world adopts bitcoin, it still means that bitcoin has not conquered the major part of the world.

https://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/

[EarnOnVictor]

What an imagination! All I could deduce from your dream is what most people often dream of, which is the Next Big Thing.

As we are dwelling in Bitcoin now, many people are still waiting for the future Next Big Thing. That is how it would continue forever. This mindset had already caused many to be swindled or regret investing in many things as well. Let's just be thankful that Bitcoin wasn't just that Next Big Thing, but the one that's worth it.

[danherbias07]

I do hope someone out there does exist and will come out and tell his story.

Let's also consider how stressful those days it was for that certain investor with all the ups and downs of Bitcoin. It's not pretty. It's actually super ugly. The FUD is scattered all over social media, and you can see people withdrawing their funds and giving up on Bitcoin. Actually, I was scared as sh*t when I saw a man in a video withdraw his funds after Bitcoin fell years ago. He even said in his clip that it was all a fraud.

Regarding other cryptocurrencies, well, they tried. Some were successful, others not.

[rbynxx]

What an imagination! All I could deduce from your dream is what most people often dream of, which is the Next Big Thing.

As we are dwelling in Bitcoin now, many people are still waiting for the future Next Big Thing. That is how it would continue forever. This mindset had already caused many to be swindled or regret investing in many things as well. Let's just be thankful that Bitcoin wasn't just that Next Big Thing, but the one that's worth it.

Do you think it will happen again but a lot will still miss it? I think it was the way, people will not get it at genesis but they'll chasing it once it's clearly a winner.

I am talking about someone specific (and I am 95% sure that such person(s) existed).

Of course that person(s) exist because there has been a lot of invention before that was similar to Bitcoin and if somehow that person(s) know that Bitcoin exist they clearly invested in it. I think 100% was the clear answer here.

[Aanuoluwatofunmi]

Quite alright, we cannot deny that there have been several projects being introduced even before Bitcoin was successfully initiated, but all their efforts to make something tangible were failed attempts because they never succeeded in everything until we had Bitcoin come into place and be the first to mass out among all other projects that have created a similar impression and solution to the entire world

[suzanne5223]

I think a lot of people were waiting for Bitcoin. The problem is there were lots of Bitcoins that made similar promises and always fell short. There was no way to know Bitcoin would receive the adoption it did. A lot of things had to go perfectly and did in order for Bitcoin to become what it is today.

I do agree with you about lot of people waiting for a digital currency that will have the potential of Bitcoin due to how a lot of previous digital currencies like Egold, eCash, etc., were unable to deliver.
I believe Satoshi learned from previous currency mistakes to create the perfect features that enable BTC to deliver, and another thing I liked was that Satoshi was seeking community enthusiasts.
You're one of the donors of this forum. How were things for BTC in the year 2011?

[m2017]

No, I didn't get the number wrong    

And this is the first thing I thought about.

Here, I am thinking about the investor who was already waiting for Bitcoin before it actually appeared..

I can only assume that this investor was waiting for the emergence of an asset that is undervalued now, but which will appreciate later (after some time).

Naturally, he didn’t know the keyword "Bitcoin," because it didn’t exist yet... he didn’t even know the official name for the asset class to which his dream asset would belong (private money, electronic asset...?).

He just knew that he could make good money from this?

Yes, he did not know the exact keywords. However, he was well aware of what he was dreaming of, and wrote down—perhaps not for others, but for himself (in his investment diary)—everything he knew about his dream investment: "An asset emerges that is essentially the product of calculations performed by electronic computers; its scarcity therefore stems from the resources—such as computing power and electricity—required to carry out those calculations. This asset begins to be traded on the market. Immediately after its creation, the asset’s price is close to zero. Over the following years, its price rises millions of times over, and in the near future, it achieves a market capitalization comparable to that of the largest stocks." That was all he knew, and that was all an investor needed to know.

So, he was waiting for something he didn't even know existed? It seems dubious, and I highly doubt there was even a single investor like that in 2006. If there was one, I'd be happy to hear their true story.

Why am I dwelling on thoughts like these—about such distant times and peculiar people? Because I feel that a significant era (the first chapter in the crypto history) has come to an end in the 2020s.

One era has ended, another has begun, each offering its own opportunities.

Bitcoin is on the Moon, while all other cryptocurrencies remain under the influence of Earth's gravity.

Just don't tell this to those who bought bitcoin for $ 100k. +.