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Author Topic: 3 years ago...let's reminisce  (Read 12035 times)
proudhon
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June 06, 2014, 04:19:56 PM
Merited by vapourminer (1)
 #1

So, almost exactly 3 years ago a lot of us were euphorically watching as bitcoin blew through the $20 range and into the $30s.  Not long after reaching nearly $33, there was a series of relatively large sell-offs into pretty thin bids, and that ultimately bottomed out around $10.

The price "recovered" to around $17 and then we were all epically goxxed with an insane hackcrash from $17 to, basically, $0.  It was gut-wrenching.  I was on my way to the gym when it happened and casually opened the price app on my phone to see the price was under $10.  I was a little disturbed, but it's bitcoin.  At another stop light I checked again and the price was under $5.  That's when I called my wife and frantically attempted to explain to her how to log on to MtGox and put in a sell order...by the time she logged in the price was $0.25 and I said, "well, shit, it's pretty much all gone..."

Share your story.

The price of bitcoin can never be sustained over $50k
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romneymoney
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June 06, 2014, 04:27:53 PM
 #2

3 years ago I saw some stories on bitcoin at slashdot and other places and stupidly ignored them

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log2exp
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June 06, 2014, 04:28:19 PM
 #3

Did you sell at $0.25?
cypherdoc
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June 06, 2014, 04:30:31 PM
 #4

3 yrs ago, you were trolling Bitcoin hard, just like you do now. Wink
piramida
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June 06, 2014, 04:40:41 PM
Merited by vapourminer (1)
 #5

Did you sell at $0.25?

Would not matter all those trades were rollbacked. these were the days when everyone thought mtgox was a competent exchange & a benefit to community. little did we know...

My story 4 years ago: learned about bitcoin from the internets, came on here when there was no gox and people were literally running around the internet trying to move 10k bitcoins for $100, didn't understand wtf is this all about after 5 minutes of reading, thought it's a cleverly designed mass self-installed trojan software, left. Did more research later, got interested, but it already was at $1 per coin, thought that I missed the train completely and everybody already bought into the hype, left. Came back when it was at $32, started buying after it crashed to $17, and enjoyed the ride down to $2 with proudhon adding optimism along the way Smiley But managed not to sell, because never invested what was not prepared to lose completely. After that grizzly market all those recent events of 2013-2014 are really just minor stops on the way up.

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CoinDiver
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June 06, 2014, 04:47:09 PM
 #6

these were the days when mtgox was a competent exchange & a benefit to community.

FTFY

http://mises.org/daily/3229
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Torque
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June 06, 2014, 04:52:51 PM
 #7

3 yrs ago, you were trolling Bitcoin hard, just like you do now. Wink

ProudhonTM -trolling with 3 years of excellence
fonzie
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June 06, 2014, 04:58:35 PM
 #8

Three years ago I was buying silver and gold like an idiot.

Oh well, lesson learned. Don't buy into all the hype.



ps. I am a ultra bull on bitcoin, though. We'll see what happens.

Are you sure?  Cheesy Cheesy

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thezerg
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June 06, 2014, 05:02:34 PM
 #9

Read about the tech thru a slashdot article but took one look at the price and said to myself "Bubble"  Shocked.  Revisited and read the whitepaper (actually understood the awesomeness of Bitcoin as opposed to the media misreporting) 8 months later... joined bitcointalk a month+ after that.
sgbett
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June 06, 2014, 05:17:13 PM
 #10

I missed the whole thing Cheesy

Nice to see you round these parts. Trolling is very low quality at the moment, why not stay a while Cheesy

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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bitcoinsrus
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June 06, 2014, 05:26:55 PM
 #11

make another bitcoin song, that bubble song was funny  Grin
http://www.youtube.com/watch?v=A7TuFy0fcuw
cypherdoc
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June 06, 2014, 05:42:20 PM
 #12

proudhon is a special type of troll.

At times he can be downright vicious. At other times he can be downright adorable.
Melbustus
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June 06, 2014, 06:02:03 PM
 #13

...
The price "recovered" to around $17 and then we were all epically goxxed with an insane hackcrash from $17 to, basically, $0.  It was gut-wrenching. 
...


I'd been following bitcoin for a number of weeks at that point and watched that hackcrash in real time. The price recovering to around $14 fairly quickly in the days after that gave me confidence to make some of my first purchases. And as I read constantly about bitcoin and monetary systems in general through the following months, my confidence in bitcoin rose as the price fell. Just wish I'd had more fiat to put to work at the time! Smiley

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
proudhon
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June 06, 2014, 06:48:56 PM
 #14

I missed the whole thing Cheesy

Nice to see you round these parts. Trolling is very low quality at the moment, why not stay a while Cheesy

Just don't have the time these days to troll as it ought to be done, and I feel like if you're gonna do something, do it well.  I'll probably pop in here a little more frequently, though.

The price of bitcoin can never be sustained over $50k
sgbett
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June 06, 2014, 06:57:38 PM
 #15

Well then the patented proudhon-in-spec-subforum indicator would suggest we are indeed in for another run up. I'd better back up my truck.

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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CoinDiver
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June 06, 2014, 07:02:47 PM
 #16

A year ago, you would have had 100 answers by now. The forum is full of jobless socialists now. I much prefered the days of jobless anarchists. DAMN ALT COINS!

Myself, I was 8 months from hearing about bitcoin. Bought my first btc at $5.50... and a few more in the $4 range before the price JUMPED on 4/20 that year.

http://mises.org/daily/3229
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TwinWinNerD
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June 06, 2014, 07:29:57 PM
 #17

Yeah 17$ was sick. I buy your coins for 18$ so you don't have to suffer a 17$ price ever again!!!

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June 06, 2014, 07:31:01 PM
 #18

A year ago, you would have had 100 answers by now. The forum is full of jobless socialists now. I much prefered the days of jobless anarchists. DAMN ALT COINS!

Myself, I was 8 months from hearing about bitcoin. Bought my first btc at $5.50... and a few more in the $4 range before the price JUMPED on 4/20 that year.

You joined in summer 2012 and are talking about the good old days of this forum? Hahaha. Cute!

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June 06, 2014, 07:31:24 PM
 #19

I started reading the forum just after proudhon song.
dude you were my hero! best troll ever to hit the board.
took some real balls to make the switch like you did.
smoothy's posts used to fun as well but now days he's all serious (mostly)

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June 06, 2014, 07:41:44 PM
 #20

three years ago i heard about bitcoin, didn't understand the slightest bit, didn't know about this forum, decided to send a few thousand bucks to tokyo anyway. price was around lower tens when i wanted to buy, but wiring cash to gox just took forever, while the bubble kept going. when the funds f i n a l l y arrived, price was going towards 30. I went all in with what i had sent. bubble popped right after my purchase.
i was paralyzed, my funds were evaporating fast. it dawned on me that this wasn't the future of money but the presence of a very elaborate scam and i was stupid enough to literally throw my money this way. not a nigerian scam but a japanese. oh fuck, i watched the price go down, down, down, and i didn't knew any other idiot WHO was stupid enough to do this. i decided not to tell anyone, forget all about, literally erase everything on my pc that was related to gox and managed it to forget all about it until march 2013.
(gox was then kind enough to restore my account and my first hundred btc - bought on top of the top - were still sitting there untouched) the thing that made the difference for me was to find this forum in march 2013.

lesson learned: with bitcoin even the most ignorant fool buying on top of the most epic bubble still makes a decent buck when waiting long enough  Cheesy
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