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I once aske my uncle his thoughts on investing in bitcoin in cash. Price was about 10 bucks a coin. We both regret talking ourselves out of it

codetrotter 8y ago
There is no point in regretting such things. You could not have known what would happen to the price of Bitcoin. You probably would’ve ended up selling it for a tiny profit and then you’d still be regretting your actions, or even you could’ve panicked at some point when it dipped a little bit and sold at a loss.
- 456hdsaq234g 8y ago
  or lost em in mtgox.
notheguyouthink 8y ago
I was talking with my wife (then gf) about putting $1000 into BTC back when it hit $1. I don't let it eat me up though, I'm not a gambler, and it's quite likely that I would have sold at some point. Though.. if I had my wits, hopefully I'd be selling off chunks. Ie, at $18k/coin I wouldn't sell the whole thing.. though, at only $100/coin it would have been tempting. Ah, life.
- charlesdm 8y ago
  But you'd likely be a lot better off. Putting $1,000 into something promising isn't gambling, it's smart. While no one likes throwing a grand away, it's also not a lot of money in the grand scheme of things. So why not take a chance? It's not like you'll see 20 opportunities to invest money into something pop up every year. People in general are too conservative. You should allow yourself to take (calculated) risks once in a while.
  - behringer 8y ago
    At the time it seemed like gambling. Everyone thought it would come crashing down at any time. It was the forward thinkers and the heavy risk takers that invested. On top of that, only crazy people ever though it could hit 20k.
tCfD 8y ago
I wouldn't beat yourself up over it. As other commenters have pointed out, nobody knows or could have known where Bitcoin was going to go, unless they were in control of substantial liquid leverage and knew that they could constrain supply indefinitely. And even then, holding a corner on supply of an untested asset is still no guarantee it will perform. Sergey Brin and Larry Page tried to sell Google to excite.com for a paltry $5MM ... and Excite turned them down. Even they, who of all people should have had the utmost confidence in the future (and control over supply)of their own brainchild asset, didn't fully understand the significance of what they were sitting on.
gowld 8y ago
Ask your uncle his thoughts on investing in baseball cards and comic books, too.

codetrotter 8y ago

There is no point in regretting such things. You could not have known what would happen to the price of Bitcoin. You probably would’ve ended up selling it for a tiny profit and then you’d still be regretting your actions, or even you could’ve panicked at some point when it dipped a little bit and sold at a loss.

456hdsaq234g 8y ago
or lost em in mtgox.

notheguyouthink 8y ago

I was talking with my wife (then gf) about putting $1000 into BTC back when it hit $1. I don't let it eat me up though, I'm not a gambler, and it's quite likely that I would have sold at some point. Though.. if I had my wits, hopefully I'd be selling off chunks. Ie, at $18k/coin I wouldn't sell the whole thing.. though, at only $100/coin it would have been tempting. Ah, life.

charlesdm 8y ago
But you'd likely be a lot better off. Putting $1,000 into something promising isn't gambling, it's smart. While no one likes throwing a grand away, it's also not a lot of money in the grand scheme of things. So why not take a chance? It's not like you'll see 20 opportunities to invest money into something pop up every year. People in general are too conservative. You should allow yourself to take (calculated) risks once in a while.
- behringer 8y ago
  At the time it seemed like gambling. Everyone thought it would come crashing down at any time. It was the forward thinkers and the heavy risk takers that invested. On top of that, only crazy people ever though it could hit 20k.

tCfD 8y ago

I wouldn't beat yourself up over it. As other commenters have pointed out, nobody knows or could have known where Bitcoin was going to go, unless they were in control of substantial liquid leverage and knew that they could constrain supply indefinitely. And even then, holding a corner on supply of an untested asset is still no guarantee it will perform. Sergey Brin and Larry Page tried to sell Google to excite.com for a paltry $5MM ... and Excite turned them down. Even they, who of all people should have had the utmost confidence in the future (and control over supply)of their own brainchild asset, didn't fully understand the significance of what they were sitting on.

gowld 8y ago

Ask your uncle his thoughts on investing in baseball cards and comic books, too.