5 ms·

"At a current market value of about USD$0.22 per coin" wow

by vit05 9y ago

Roritharr 9y ago
The regret I feel having given away all of my 100 bitcoins at that price point will forever haunt me.
- pmontra 9y ago
  Seconded. The bitcoin to USD ratio is like 1 to 2700 right now http://www.xe.com/currencycharts/?from=XBT&to=USD http://www.xe.com/currencycharts/?from=XBT&to=USD
  - ASlave2Gravity 9y ago
    What's caused the price to rise so much the past few months?
    - bastijn 9y ago
      Accepting by major parties and even speculated governments (Japan I believe) was one. In generic, being able to spend it in more places as well as people seeing the potential of trading in it.
    - konceptz 9y ago
      It's also being used to hide cash in China. http://www.cnbc.com/2017/05/23/jeff-gundlach-has-a-theory-on-why-bitcoin-is-surging.html http://www.cnbc.com/2017/05/23/jeff-gundlach-has-a-theory-on...
    - ihalip 9y ago
      IMO, this happened because of the Ethereum ICO fever. While there are a number of exchanges that allow you to trade USD -> BTC, there aren't as many that allow trading USD -> ETH. So there are people who might have traded USD -> BTC -> ETH, and this increased demand for BTC.
      - eightysixfour 9y ago
        You can check this thesis pretty easily: https://coinmarketcap.com/currencies/volume/24-hour/ https://coinmarketcap.com/currencies/volume/24-hour/ As you can see, ETH <-> Fiat pairings have more volume than BTC -> ETH right now.
    - matt4077 9y ago
      Speculation. FOMO.
    - paulpauper 9y ago
      erethium yes, but other factors too: Bitcoin is a form of safety and asset diversification in a world of economic uncertainty. Wealthy foreigners like bitcoin because it is in many instances safer than keeping money in a bank
      - pmontra 9y ago
        Foreigners relative to which country?
- nikcub 9y ago
  You can get over that feeling very quickly by reminding yourself to focus on what you might be missing out on today that you don't want to regret in years from now.
  - matt4077 9y ago
    Or, alternatively, by remembering the efficient market hypothesis. And going for ice cream with someone you like.
    - thatcat 9y ago
      That would be good consolation, but EMH doesn't really apply to emerging markets due to the large information gap about the market. So if you were part of the informed population and thought it was a good investment, but didn't follow through it's still pretty hard to not feel like you made a costly mistake.
  - paulpauper 9y ago
    It's annoying when ppl try to dull the pain of regret with statements like that. You're right but it's not helpful in practice. Bitcin turned anyone who bought even just a few dollars of it in 2009-2010 and held, rich And those who bought $1000s if it in 2011 into millionaires. This may be is the greatest gain of any tradeable instrument in the history of civilization. You can't find those kind of returns anywhere else, short of investing in the next Uber or Facebook but those were private ventures and unlike Bitcoin not open to the public. Selling 1000 books on amazon for $8, although virtually possible for ordinary people to d, is like a piddly 3 bitcoins that any fool could have bought have bought in 2012. Goes to show how capital beats labor. To get rich, look for things that will go up and put your money in it early. Easier said than done, but the returns are astronomical when you get it right.
  - dghughes 9y ago
    Ethereum.
    - dghughes 9y ago
- xyz1237795 9y ago
  How would you cash out on a huge BTC gain? What would happen if you sold say $500,000 worth at an exchange, then had them wire that to your bank account? Let's say no account in your name ever had a monthly deposit total greater than $10,000 and suddenly that shows up. Would you be under investigation by several organizations? Would you be flagged for audit every year for the rest of your life?
  - Obi_Juan_Kenobi 9y ago
    Your bank might be worried, but if you use a 'reputable' exchange that does KYC/AML, e.g. GDAX or Gemini, it should be alright. You might want to space out the bank transfers. As for the tax man, declare the capital gains and you'll be right as rain.
- ferentchak 9y ago
  The huge mistake you really made was not taking those two dollars and buying a winning powerball ticket. Had you known then what you know now losing some cash on Bitcoin was the least of your lost opportunities. ;)

"At a current market value of about USD$0.22 per coin" wow

by vit05 9y ago

"At a current market value of about USD$0.22 per coin" wow

Roritharr 9y ago

The regret I feel having given away all of my 100 bitcoins at that price point will forever haunt me.

pmontra 9y ago
Seconded. The bitcoin to USD ratio is like 1 to 2700 right now http://www.xe.com/currencycharts/?from=XBT&to=USD http://www.xe.com/currencycharts/?from=XBT&to=USD
- ASlave2Gravity 9y ago
  What's caused the price to rise so much the past few months?
  - bastijn 9y ago
    Accepting by major parties and even speculated governments (Japan I believe) was one. In generic, being able to spend it in more places as well as people seeing the potential of trading in it.
  - konceptz 9y ago
    It's also being used to hide cash in China. http://www.cnbc.com/2017/05/23/jeff-gundlach-has-a-theory-on-why-bitcoin-is-surging.html http://www.cnbc.com/2017/05/23/jeff-gundlach-has-a-theory-on...
  - ihalip 9y ago
    IMO, this happened because of the Ethereum ICO fever. While there are a number of exchanges that allow you to trade USD -> BTC, there aren't as many that allow trading USD -> ETH. So there are people who might have traded USD -> BTC -> ETH, and this increased demand for BTC.
    - eightysixfour 9y ago
      You can check this thesis pretty easily: https://coinmarketcap.com/currencies/volume/24-hour/ https://coinmarketcap.com/currencies/volume/24-hour/ As you can see, ETH <-> Fiat pairings have more volume than BTC -> ETH right now.
  - matt4077 9y ago
    Speculation. FOMO.
  - paulpauper 9y ago
    erethium yes, but other factors too: Bitcoin is a form of safety and asset diversification in a world of economic uncertainty. Wealthy foreigners like bitcoin because it is in many instances safer than keeping money in a bank
    - pmontra 9y ago
      Foreigners relative to which country?
nikcub 9y ago
You can get over that feeling very quickly by reminding yourself to focus on what you might be missing out on today that you don't want to regret in years from now.
- matt4077 9y ago
  Or, alternatively, by remembering the efficient market hypothesis. And going for ice cream with someone you like.
  - thatcat 9y ago
    That would be good consolation, but EMH doesn't really apply to emerging markets due to the large information gap about the market. So if you were part of the informed population and thought it was a good investment, but didn't follow through it's still pretty hard to not feel like you made a costly mistake.
- paulpauper 9y ago
  It's annoying when ppl try to dull the pain of regret with statements like that. You're right but it's not helpful in practice. Bitcin turned anyone who bought even just a few dollars of it in 2009-2010 and held, rich And those who bought $1000s if it in 2011 into millionaires. This may be is the greatest gain of any tradeable instrument in the history of civilization. You can't find those kind of returns anywhere else, short of investing in the next Uber or Facebook but those were private ventures and unlike Bitcoin not open to the public. Selling 1000 books on amazon for $8, although virtually possible for ordinary people to d, is like a piddly 3 bitcoins that any fool could have bought have bought in 2012. Goes to show how capital beats labor. To get rich, look for things that will go up and put your money in it early. Easier said than done, but the returns are astronomical when you get it right.
- dghughes 9y ago
  Ethereum.
  - dghughes 9y ago
xyz1237795 9y ago
How would you cash out on a huge BTC gain? What would happen if you sold say $500,000 worth at an exchange, then had them wire that to your bank account? Let's say no account in your name ever had a monthly deposit total greater than $10,000 and suddenly that shows up. Would you be under investigation by several organizations? Would you be flagged for audit every year for the rest of your life?
- Obi_Juan_Kenobi 9y ago
  Your bank might be worried, but if you use a 'reputable' exchange that does KYC/AML, e.g. GDAX or Gemini, it should be alright. You might want to space out the bank transfers. As for the tax man, declare the capital gains and you'll be right as rain.
ferentchak 9y ago
The huge mistake you really made was not taking those two dollars and buying a winning powerball ticket. Had you known then what you know now losing some cash on Bitcoin was the least of your lost opportunities. ;)