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The current price is back at the price in August 2017. Anybody who got in before the subsequent speculative wave is doing absolutely fine. The $20,000 price of

The current price is back at the price in August 2017. Anybody who got in before the subsequent speculative wave is doing absolutely fine. The $20,000 price of December 2017 was a speculative fluke of some kind of wannabe gold rush. For someone like me, who got in years before, I am actually happy that the hot money is mostly gone now. That batch gold diggers were turning the entire scene into a gigantic lottery carnival.

arcticbull 8y ago
You’re happy you lost 90% of your wealth? This kind of religious nonsense is pretty typical in the MLM and ponzi worlds. Nobody should be happy about that. Plus that’s some seriously classic goalpost moving. Each time the price drops further shift the buy in a date a few months to the left. Yes people who bought in two years ago (basically a tiny fraction of the people who bought in after) are now break even. Classic success. The S&P has returned 14% since August 2017.
- gjs278 8y ago
  spy 500 nearly lost all its gains for the year. it could easily take a nosedive.
- robertAngst 8y ago
  No one bought at 19k/BTC. And if they did, they likely bought petty amounts. Most people bought before. We believe that there may be an alternative to government currency in a rare number. I didnt lose 90% of my wealth. I actually got an extra 0.6 BTC since Jan 2017. I consider that an increase.
  - arcticbull 8y ago
    Tons of people bought at 19K. That’s when transaction counts peaked from historical graphs. And at 18k, and 17k and so on. This isn’t in dispute the historical data speaks for itself, not opinion. [1] They bought huge quantities, multiplication tells us that. And anecdota of people taking out massive loans because they couldn’t lose. Most bought in the cumulative run up from mid to end of 2017, again, charts. [1] You lost 90% of your buying power. [1] https://data.bitcoinity.org/markets/volume/5y/USD?c=e&t=b&vu=curr https://data.bitcoinity.org/markets/volume/5y/USD?c=e&t=b&vu...
    - deleted 8y ago
      [deleted]
    - jen729w 8y ago
      Yeah, the price was $19k. Therefore, by very definition, people bought at $19k. Otherwise the price wouldn't have been ... ah, it's hard to get through to people sometimes. Loved your analysis in this thread, thanks.

arcticbull 8y ago

You’re happy you lost 90% of your wealth? This kind of religious nonsense is pretty typical in the MLM and ponzi worlds. Nobody should be happy about that. Plus that’s some seriously classic goalpost moving. Each time the price drops further shift the buy in a date a few months to the left. Yes people who bought in two years ago (basically a tiny fraction of the people who bought in after) are now break even. Classic success. The S&P has returned 14% since August 2017.

gjs278 8y ago
spy 500 nearly lost all its gains for the year. it could easily take a nosedive.
robertAngst 8y ago
No one bought at 19k/BTC. And if they did, they likely bought petty amounts. Most people bought before. We believe that there may be an alternative to government currency in a rare number. I didnt lose 90% of my wealth. I actually got an extra 0.6 BTC since Jan 2017. I consider that an increase.
- arcticbull 8y ago
  Tons of people bought at 19K. That’s when transaction counts peaked from historical graphs. And at 18k, and 17k and so on. This isn’t in dispute the historical data speaks for itself, not opinion. [1] They bought huge quantities, multiplication tells us that. And anecdota of people taking out massive loans because they couldn’t lose. Most bought in the cumulative run up from mid to end of 2017, again, charts. [1] You lost 90% of your buying power. [1] https://data.bitcoinity.org/markets/volume/5y/USD?c=e&t=b&vu=curr https://data.bitcoinity.org/markets/volume/5y/USD?c=e&t=b&vu...
  - deleted 8y ago
    [deleted]
  - jen729w 8y ago
    Yeah, the price was $19k. Therefore, by very definition, people bought at $19k. Otherwise the price wouldn't have been ... ah, it's hard to get through to people sometimes. Loved your analysis in this thread, thanks.