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This is what I tell everyone when they kick themselves for not buying BTC when it was $0.25. You would have sold them the second they hit $1.00. The only peopl

by ben174 8y ago

This is what I tell everyone when they kick themselves for not buying BTC when it was $0.25. You would have sold them the second they hit $1.00. The only people I know who got rich off BTC are those who found an old wallet on an old drive in their garage.

foobaw 8y ago
Definitely - getting rich off these things means you have to go against convention. People have to call you "crazy" or "wild."
- privacypoller 8y ago
  Don't get your causation mixed up though. Most of those people are actually crazy, wild and broke.
  - komali2 8y ago
    It never made "sense" to invest in bitcoin, and it still doesn't. If you had done so, you would have made money, but it was a "bad" bet. It wasn't a company, you had no real information to go off of. No earnings reports, no statements, nothing. It was as blind a bet as you can get. If you were technically knowledgeable in the area I guess you could have "predicated" that it would be used to buy drugs and thus go up in value, but to this day we have highly technically competent people saying "this is fucking stupid, this is overvalued, this is useless." It's a religious debate at this point. Throwing .1% of your investment portfolio at it, whatever, why not. I do that with derpy shit stocks all the time (looking at you, HMNY, what a fun ride). But I don't think anybody should be salty about "missing the boat" on Bitcoin or other coins. If you wanna be a millionaire, do drop shipping or something. Stream. Flip houses. There's way less risk averse, proven ways to make extra money. Bitcoin just seems "so easy." Get rich quick.
    - RealityVoid 8y ago
      I agree about the saltiness, but not so about BTC being a bad bet, considering it held great promise for a relatively small investment and, I myself, was sold on the way BTC was presented by Satoshi. No matter what happens to BTC now, at least from it's founder's point of view, BTC is a huuuge success.
drexlspivey 8y ago
Relevant tweet: https://twitter.com/gregschoen/status/70261648811761665?lang=en https://twitter.com/gregschoen/status/70261648811761665?lang... "I wish I had kept my 1,700 BTC @ $0.06 instead of selling them at $0.30, now that they're $8.00!"
jrockway 8y ago
I have a friend who bought low and didn't think about selling until he had about $300,000 worth. Except he stored them on MtGox and they were gone.
RealityVoid 8y ago
Define "rich". I know someone who had an almost 20x ROI with BTC and is still holding it since 2013 I think. That is _VERY_ good ROI, I think. But the invested sum was a paltry $1000 that was a lot for him at the time.
- ben174 8y ago
  Your sibling posted a good example: https://twitter.com/gregschoen/status/70261648811761665?lang=en https://twitter.com/gregschoen/status/70261648811761665?lang... Had he held on to his until the very peak, he'd be sitting on $30 million. That's rich. With BTC, 20x isn't that crazy. I'm talking about 50,000x if you dig up an old enough wallet.

by ben174 8y ago

foobaw 8y ago

Definitely - getting rich off these things means you have to go against convention. People have to call you "crazy" or "wild."

privacypoller 8y ago
Don't get your causation mixed up though. Most of those people are actually crazy, wild and broke.
- komali2 8y ago
  It never made "sense" to invest in bitcoin, and it still doesn't. If you had done so, you would have made money, but it was a "bad" bet. It wasn't a company, you had no real information to go off of. No earnings reports, no statements, nothing. It was as blind a bet as you can get. If you were technically knowledgeable in the area I guess you could have "predicated" that it would be used to buy drugs and thus go up in value, but to this day we have highly technically competent people saying "this is fucking stupid, this is overvalued, this is useless." It's a religious debate at this point. Throwing .1% of your investment portfolio at it, whatever, why not. I do that with derpy shit stocks all the time (looking at you, HMNY, what a fun ride). But I don't think anybody should be salty about "missing the boat" on Bitcoin or other coins. If you wanna be a millionaire, do drop shipping or something. Stream. Flip houses. There's way less risk averse, proven ways to make extra money. Bitcoin just seems "so easy." Get rich quick.
  - RealityVoid 8y ago
    I agree about the saltiness, but not so about BTC being a bad bet, considering it held great promise for a relatively small investment and, I myself, was sold on the way BTC was presented by Satoshi. No matter what happens to BTC now, at least from it's founder's point of view, BTC is a huuuge success.

drexlspivey 8y ago

Relevant tweet: https://twitter.com/gregschoen/status/70261648811761665?lang=en https://twitter.com/gregschoen/status/70261648811761665?lang... "I wish I had kept my 1,700 BTC @ $0.06 instead of selling them at $0.30, now that they're $8.00!"

jrockway 8y ago

I have a friend who bought low and didn't think about selling until he had about $300,000 worth. Except he stored them on MtGox and they were gone.

RealityVoid 8y ago

Define "rich". I know someone who had an almost 20x ROI with BTC and is still holding it since 2013 I think. That is _VERY_ good ROI, I think. But the invested sum was a paltry $1000 that was a lot for him at the time.

ben174 8y ago
Your sibling posted a good example: https://twitter.com/gregschoen/status/70261648811761665?lang=en https://twitter.com/gregschoen/status/70261648811761665?lang... Had he held on to his until the very peak, he'd be sitting on $30 million. That's rich. With BTC, 20x isn't that crazy. I'm talking about 50,000x if you dig up an old enough wallet.