Will there ever be another crypto boom similar to BTC in my lifetime?

[pattu1]

Sorry this was it. We're all millionaires, and you're not.

i love this post 

A lot of bitcoin millionaires in end-2013 must be regretting not selling out.   

[nextblast]

Don't be too frustrated.
1. By having this history, you are likely to seize the next opportunity. May next new great crypto that will replace btc. This will help you a lot.
2. Who knows if BTC will skyrocket a gain and reach $100000? Buy some every month. It's still not too late.

[CryptoCarmen]

Sorry this was it. We're all millionaires, and you're not.

i love this post 

A lot of bitcoin millionaires in end-2013 must be regretting not selling out.   

There is no bitcoin millionaires, there are lots of  few 1000 BTC holders, some few 10k BTC holders and few few 100k BTC holders. No millionaires.

[HeroCat]

Crypto boom can be with BTC once again  Regarding other crypto currencies - I do not know 

[transient858]

Hey gang, broke student here.

I heard about BTC back in 2012 after doing acid (it enlightened me) but considering my family is poor and I was going to college I had no money to invest, I was in the red. I came back to the ecosystem sometime around late-2013 after some family trouble and made a bit of pocket change day-trading DOGE (1500$)...essentially nothing compared to you big shots.

Every day I wake up and want to kill myself, considering I do not have a time machine. All I want is to live with the comfort knowing I have 100k-1m$ in my bank account....the thing that kills me is knowing I could have had that comfy security but not in this timeline, maybe a parallel timeline where I did LSD earlier. I know there will most likely not be another moment in our lives where you can invest in a stock for 1$ and it goes to 1000$, and I can't take much more of working at this dead-end fast food job.

Does anyone have any info on how often this happens, and how I could get to know about such a thing early on? Is there a secret IRC or forum where people discuss this?

I don't want to an hero, however making 1500$ a month from fast food and spending 1000$ on rent and living expenses whilst only taking away 500$ is a FUCKING JOKE. At this point I might even move to Alaska and die of a bee sting like that McCandless guy did.

It just sucks that an entire life is wasted for being a few years late, you know?

Nxt coin did make many people extremely wealthy. But choosing a good coin is like finding hitting lottery.

[neurotypical]

Crypto boom can be with BTC once again  Regarding other crypto currencies - I do not know 

I don't think BTC can go x5 order of magnitude again at this point, we'll see tho.

[sidhujag]

Sorry this was it. We're all millionaires, and you're not.

i love this post 

A lot of bitcoin millionaires in end-2013 must be regretting not selling out.   

There is no bitcoin millionaires, there are lots of  few 1000 BTC holders, some few 10k BTC holders and few few 100k BTC holders. No millionaires.

U sure about that?

[TaunSew]

It was hardly much of a boom.  Dot.com in the late 1990s was $7 trillion.  Bitcoin peaked at $15 billion, because only 500K-2M users are using it.


Besides we know from the website BitcoinRichList that there isn't that many rich.  I looked at the numbers and it looks like only 55 active addresses (past 30 days) own more than $5 million.  

Then there are the charts which include all the addresses going back to 2009.  There's 1700 addresses with amounts more than $3 million.  Addresses are not people.  A lot of these belong to exchanges, are lost or inaccessible funds, multiple addresses can belong to the same person (a common security precaution), et cetera.

So in actuality, especially at current prices, I would be surprised if there's even 300 rich Bitcoiners who have access to their funds.


Here's some rhetorical logic -  if loads of people were getting rich off Bitcoin then how come this forum (or Reddit) isn't full of people posting photos of their brand new Lamborghini and mansions?  You know that stuff would happen if many ordinary people were getting rich.

[touhonoob]

Here's some rhetorical logic -  if loads of people were getting rich off Bitcoin then how come this forum (or Reddit) isn't full of people posting photos of their brand new Lamborghini and mansions?  You know that stuff would happen if ordinary people were getting rich.

https://i.imgur.com/ss9K1TF.jpg

[TaunSew]

http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

The origin behind that story.  Still I presented a good argument - if there was thousands of rich Bitcoiners then everybody would be posting photos of their cars and mansions on here.  If you had 1,000 rich Bitcoiners then you only need 1% of them (10) to be bragging about it nonstop on Reddit and Bitcointalk.

[Fierce]

It was hardly much of a boom.  Dot.com in the late 1990s was $7 trillion.  Bitcoin peaked at $15 billion, because only 500K-2M users are using it.


Besides we know from the website BitcoinRichList that there isn't that many rich.  I looked at the numbers and it looks like only 55 active addresses (past 30 days) own more than $5 million.  

Then there are the charts which include all the addresses going back to 2009.  There's 1700 addresses with amounts more than $3 million.  Addresses are not people.  A lot of these belong to exchanges, are lost or inaccessible funds, multiple addresses can belong to the same person (a common security precaution), et cetera.

So in actuality, especially at current prices, I would be surprised if there's even 300 rich Bitcoiners who have access to their funds.


Here's some rhetorical logic -  if loads of people were getting rich off Bitcoin then how come this forum (or Reddit) isn't full of people posting photos of their brand new Lamborghini and mansions?  You know that stuff would happen if many ordinary people were getting rich.

The great thing about speculation is that it requires no specific knowledge or ability. Any person can look at any series of facts and give their opinion. I can think of a dozen points off the top of my head that disproves your theory entirely. The most obvious is that you have not taken into account any medium of exchange besides bitcoins. Your measure of wealth is based of bitcoin holdings from the rich list.

Do you think zero people sell bitcoin for fiat currency?
Do you think zero people sell bitcoin for altcoins?
Do you think zero people use their bitcoins for purchasing power?
Do you think that zero people have traded bitcoin for other assets?
Have you considered the thousands of bitcoin businesses that have been started from bitcoin earnings?

Josh Garza's purchase of btc.com for 1 million dollars.....

I could go on and on but I don't have the time to correct ignorance.

I'm too busy NOT making money on bitcoin, right?

[Kimowa]

Sorry this was it. We're all millionaires, and you're not.

i love this post 

A lot of bitcoin millionaires in end-2013 must be regretting not selling out.   

There is no bitcoin millionaires, there are lots of  few 1000 BTC holders, some few 10k BTC holders and few few 100k BTC holders. No millionaires.

Satoshi should be the only bitcoin millionaires.

[Rw13enlib88]

Bitcoin has the potential to appreciate another 1000 times, and some altcoins, or other crypto technology could appreciate 10,000 times.....

Also, there are startups in the world, which may in the future appreciate 100,000 times.

You just need to think.

Are you sure? If BTC appreciated by 1000 times, it would be worth 350,000$ a Bitcoin. Do you know how laughable that sounds? People would literally be more wealthy than the wealthiest billionaires on the planet the logic doesn't work out.

There are so many happening right now over here. NXT last year, BTSX this year amongst others. If you keep your ear to the ground you will find so many get rich coins with enough volume to make you a millionaire.

Those just sound like PnD altcoins. Where would you keep your ear to the ground? Alternate crypto forums is full of emotional shills.

[/quote]


If you continue thinking this way, for sure you're not going to be rich

[boraf]

Watch out for generation 2 coins.

Sooner or later, most coins must die to make room for one.

[BRE]

That will be happen when BTC can't be mined again.
Some coins who have trusted and good dev behind it , will rise and which will number one ? depend on society

[ManOnTheMoon]

I know that feel OP. The truth of the matter here is IT'S ALL LUCK. People will not deal with this, specially these that were lucky enough to benefit big time from the ridiculous BTC gains. You have to be at the right moment, at the right time, doing the right thing. Most people that became millonaires off this were just mining Bitcoin for shits and giggles or investing in it just "coz its cool" (like huge cryptology nerds and whanot, like that guy that bought a penthouse by selling a part of his BTC, he was just a kid that thought it was cool and bought them, forgot about them, then cashed out while freaking out trying to remember the password). That's how it rolls. No fucking one knows what can happen in very long terms. Unfortunately the odds are against us. For us to retire off the suicide-inducing ratrace that is working, we would need at least 100K per coin. Certainly unrealistic, and if it ever happens we'll probably be too fucking old to enjoy the wealth, so who cares.
The odds are also against us in terms of something having insanely high gains like Bitcoin ever again during our lifetimes. I believe Bitcoin is what's called a black swarn in financial terms, this only happens every once in a bluemoon, so we are fucked.
Now, we could get a shit ton of money off some of the shitcoins (altcoins) that sometimes pop up and blow up. Like AUR, had we invested 150$ at the right time, we would have gotten a nice piece of the cake. Or had we been part of the instamine scam of DRK at the begining, owning a lot of DRK, we would have gotten a lot of money too. Even Blackcoin gave big ass gains.

The thing with altcoins is, the amount of gimmicks that would make a coin interesting are running out. Everyday it gets harder because someone has made it already. The PoS IPO one, the anon one, the PoW+PoS one, the "funny meme" one.. whatever. Once a coin has done it, forget about it if you didn't get in at the very early stages, and you not only need to get in early, you need to risk at least 0.5 BTC which is a shitload of money for most people (people like us). If you want to make it big with an altcoin, you have to risk big. It will never be like bitcoin where 25-50$ dollars in 2009 could have retired you 3 years later.

If you already rich, it would be so fucking easy to keep up stacking BTC, just buy 0.2-0.5 worth of BTC on new altcoins that have an interesting gimmick and wait for the gains. Once you luck out within rich status, you have to be very stupid to not keep increasing gains. The problem is when you are stuck on a rat race like us, waiting for that lucky moment with few money to buy tickets into that lottery.

As of right now, personally I own a couple BTC, couple hundred XMR and couple hundred BITS. BTC, because its BTC, XMR because it seems the only solid anon coin, and couple thousand BITS because it seems an honest team that's working on their stuff off the radar.

None of these is going to make me rich, unless something extremely lucky happens, you me or no one will get rich. Working hard to get rich requires tons of years, who cares being rich when your health is shit. We want to get rich while we still can enjoy the wealth, and the only way to do it is to search for opportunities and work with what you get which is usually wage-slavery tier income.

Good luck.

Thanks man.

I shed several tears reading this. Life is a cruel, hilarious joke it seems. All about being there at the right time and synchronicity. Fuck, might as well purchase 500$ worth of DRK and sit on it for a few years, right? Who knows?

Okay, here is your best chance at what you want:

Step 1: slowly buy bitcoin as you have been
Step 2: wait for bitcoin to hit new all time high, which will start another bubble from media hype (the only reason is media hype, not cyprus/china/w.e)
Step 3: wait 1-2 weeks
Step 4: split some btc among 100 alts, lets say the ones ranked 20-120 by market cap, and put the rest on litecoin (litecoin should be 0.005-0.007 ltc/btc)
Step 5: when litecoin spikes, ALL the alts below market cap rank 20 will be primed to go AT LEAST X10, so get ready!!
Step 6: as the alts you own from step 4 go X10, sell and reinvest in the ones that have not / buy ones further down the rankings.

total profit: 2.5X from btc hitting ath, X10 from alts = X25, up to X50 if you can time the transition from btc to alts perfectly (ltc and nmc usually first, watch doge and darkcoin aswell this time though) and catch the major alts that go much more than X10. But you have time to think hard about this after btc hits ath and before ltc spikes.

GOOD LUCK, but this all depends on bitcoin hitting a new all time high  


Track record using this strategy primarily only with ltc and btc (would have been a lot higher in november if i followed my own advice and bought alts, but idk how much i trust certain exchanges)

April 2013 bubble: X50
November 2013 bubble: X13

Cheers for this. I will split profit with you and adopt pets if this works. It's actually a solid gameplan,  BTC better bubble again - doesn't karma want me to adopt pets to live in a good home? I can only do so with lots of $$$/BTC

[Razick]

First of all let me just say that I didn't make a penny, in fact I lost money, on Bitcoin finding out about it fairly early (in 2012 I think). It's easy to call tops and bottoms looking back, but it's a little harder doing so in real time.

I DO think that we will see higher Bitcoin prices in the future, so it might not be too late for you, but I'm going to be honest: Looking for a get rich quick scheme is a fools errand. Besides a very few lucky people, if you want to make a lot of money you are going to have to work for it.

My advice? If you make yourself the best employee you can be I seriously doubt that you will get stuck in that kind of job your whole life.

Life isn't easy, just like everyone else, including me, you'll have to earn your keep.

[indiangrad]

Booms and busts are part of the business cycle. So even though the magnitude might differ, the cycles might repeat

[Q7]

What is gone is gone. Looking back the past and regret is just a waste a time. If you trust and believe in future of bitcoin just put some of your monthly earning into buying bitcoin.

[xDan]

"Will I get lucky" says OP. Remember, even if you had, it'd probably have meant some other guy somewhere else didn't get lucky to compensate. We can't all be "rich". That other guy likely needed it as much as you do.

The better option all around is to live as frugally as you can. You can live better than others on a similar salary if you manage your money differently.

Research frugal living, "mr money mustache" and co.

>Does anyone have any info on how often this happens, and how I could get to know about such a thing early on? Is there a secret IRC or forum where people discuss this?

There is no "secret forum". Your best bet is to keep your eye on bleeding edge tech, for the fun of it. It's what I did, and so I heard about Bitcoin earlier than some. (Still didn't get rich though, I was a poor recent grad).

And 95% of people who heard of Bitcoin in the early days ridiculed it and laughed at it. Probably you would have too.

(And maybe, just maybe... We are still in the early days of Bitcoin, and opportunity still awaits. Maybe you are currently participating in said "secret forum". Shh, don't tell anyone.)

Most rich people get rich from hard work, clever work, starting businesses. Don't make your future depend on winning a lottery. HODL a few BTC, and go start a business.