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Late 2017 was nuts. I recall my brother texting me “Hey should I buy XRP?” out of the blue. Wish I had had the presence of mind to realize it was time to get o

by pshc 7y ago

Late 2017 was nuts. I recall my brother texting me “Hey should I buy XRP?” out of the blue. Wish I had had the presence of mind to realize it was time to get out.

helpPeople 7y ago
Bitcoin has a usecase that makes sense, rare, government free money. Xrp, centralized money. Just as unreliable as government money. To this day, alt coins seem utterly useless. (Save privacy coins)
- fock 7y ago
  good luck with all that government free infrastructure, but as your fellow coinhead told us, we should think about the poor people...
- polotics 7y ago
  IMHO A lot is hanging on Monero's ASIC resistance, version coming up this month: true decentralised hashing power is essential to the concept.
k__ 7y ago
I can remember Bitcoin going to $200 thinking it was nuts. I can also remember it going to $700 thinkin it was nuts. Now it's over $9000. So when was there really a reason to get out?
- ivoc 7y ago
  Back when it was $20000.
- cwkoss 7y ago
  Well, in hindsight, $18k would have been a great time to get out.
  - chrisco255 7y ago
    Well if foresight were 20/20 we'd all be rich.
    - trophycase 7y ago
      To be fair it was pretty obvious if you had been in the space for a while. When random people start texting you up asking how to buy XRP and telling you why LTC is better than BTC you know it's a bubble and know it's time to get out. Look at Charlie Lee for example. Everyone blames him for dumping his LTC at $200 or whatever it was but frankly it was extremely obvious that it was a bubble and a smart decision.
      - deleted 7y ago
        [deleted]
  - mrb 7y ago
    You missed k__'s point which is that no matter what peak price you think was the best time to sell out, it has always been followed 2-3 years later by an even greater peak. You have hindsight in the past but you are still lacking foresight into the future.
    - EdwardDiego 7y ago
      Because predicting the future based on the past has always worked well.
      - mrb 7y ago
        I'm not predicting the future. cwkoss is (by assuming Bitcoin will never surpass $20k)
        cwkoss 7y ago
        Pure hodling means you never take profit. Ideally you sell high and rebuy low.
- jfrbfbreudh 7y ago
  Probably when it was $19,000.
- infectoid 7y ago
  When it hit around the $30 mark I was thinking that was going to be where it levelled off and I was actually excited for it to become a stable currency. I was pretty wrong, both about it being a stable and a currency. As another commenter mentioned, I'm also excited to have been here for it all and stille excited to see where it leads. Ultimately, whether you love it or hate it, Bitcoin has made its mark on history and has kind of become the giant shoulders that the next generation can stand on.
  - Itsdijital 7y ago
    I still remember the first thought that went through my head when it hit $30... "Well that shit is gonna crash tomorrow"
    - Scoundreller 7y ago
      Well, it did go from 30 to 3.
      - unnouinceput 7y ago
        And from 1200 to 120, and from 20k to 3k, but today is 9k, so on the average year-to-year the price was always on the rise. You do know there are right now more millionaires on Earth then the total number of bitcoins that will ever be. So when bitcoin going to be all 21 millions mined, there will be not enough for all millionaires to buy one. Let that sink.
        jfrbfbreudh 7y ago
        There are also more millionaires on earth right now than there ever will be of my exclusive cryptocurrency, MoonCoin. I’d be happy to sell you one for 1,000 USD
        Scoundreller 7y ago
        I’ll give you 50 cents for a billionth of 1 coin.
- deleted 7y ago
  [deleted]
- solotronics 7y ago
  I thought it was nuts when BTC crossed the great Rubicon that was $1/BTC thinking how could this thing I generated on my laptop be worth more than a real dollar? I sold then bought in again after Mt Gox. I get the same vibes today it might take 10 years but nothing is different now, Bitcoin will be $100k eventually.
- arcticbull 7y ago
  The market can always remain irrational longer than you can remain solvent. There were and continue to be myriad reasons to get the heck out. You can ignore them and bet on irrationality but that isn't a substitute for looking a "reason to get out" - there's boatloads.
NeutronStar 7y ago
Maybe time to get out but if you got in below 10k usd/btc before the late 2017 spike or even after, then you're still profitable today.

by pshc 7y ago

Late 2017 was nuts. I recall my brother texting me “Hey should I buy XRP?” out of the blue. Wish I had had the presence of mind to realize it was time to get out.

helpPeople 7y ago

Bitcoin has a usecase that makes sense, rare, government free money. Xrp, centralized money. Just as unreliable as government money. To this day, alt coins seem utterly useless. (Save privacy coins)

fock 7y ago
good luck with all that government free infrastructure, but as your fellow coinhead told us, we should think about the poor people...
polotics 7y ago
IMHO A lot is hanging on Monero's ASIC resistance, version coming up this month: true decentralised hashing power is essential to the concept.

k__ 7y ago

I can remember Bitcoin going to $200 thinking it was nuts. I can also remember it going to $700 thinkin it was nuts. Now it's over $9000. So when was there really a reason to get out?

ivoc 7y ago
Back when it was $20000.
cwkoss 7y ago
Well, in hindsight, $18k would have been a great time to get out.
- chrisco255 7y ago
  Well if foresight were 20/20 we'd all be rich.
  - trophycase 7y ago
    To be fair it was pretty obvious if you had been in the space for a while. When random people start texting you up asking how to buy XRP and telling you why LTC is better than BTC you know it's a bubble and know it's time to get out. Look at Charlie Lee for example. Everyone blames him for dumping his LTC at $200 or whatever it was but frankly it was extremely obvious that it was a bubble and a smart decision.
    - deleted 7y ago
      [deleted]
- mrb 7y ago
  You missed k__'s point which is that no matter what peak price you think was the best time to sell out, it has always been followed 2-3 years later by an even greater peak. You have hindsight in the past but you are still lacking foresight into the future.
  - EdwardDiego 7y ago
    Because predicting the future based on the past has always worked well.
    - mrb 7y ago
      I'm not predicting the future. cwkoss is (by assuming Bitcoin will never surpass $20k)
      - cwkoss 7y ago
        Pure hodling means you never take profit. Ideally you sell high and rebuy low.
jfrbfbreudh 7y ago
Probably when it was $19,000.
infectoid 7y ago
When it hit around the $30 mark I was thinking that was going to be where it levelled off and I was actually excited for it to become a stable currency. I was pretty wrong, both about it being a stable and a currency. As another commenter mentioned, I'm also excited to have been here for it all and stille excited to see where it leads. Ultimately, whether you love it or hate it, Bitcoin has made its mark on history and has kind of become the giant shoulders that the next generation can stand on.
- Itsdijital 7y ago
  I still remember the first thought that went through my head when it hit $30... "Well that shit is gonna crash tomorrow"
  - Scoundreller 7y ago
    Well, it did go from 30 to 3.
    - unnouinceput 7y ago
      And from 1200 to 120, and from 20k to 3k, but today is 9k, so on the average year-to-year the price was always on the rise. You do know there are right now more millionaires on Earth then the total number of bitcoins that will ever be. So when bitcoin going to be all 21 millions mined, there will be not enough for all millionaires to buy one. Let that sink.
      - jfrbfbreudh 7y ago
        There are also more millionaires on earth right now than there ever will be of my exclusive cryptocurrency, MoonCoin. I’d be happy to sell you one for 1,000 USD
        Scoundreller 7y ago
        I’ll give you 50 cents for a billionth of 1 coin.
deleted 7y ago
[deleted]
solotronics 7y ago
I thought it was nuts when BTC crossed the great Rubicon that was $1/BTC thinking how could this thing I generated on my laptop be worth more than a real dollar? I sold then bought in again after Mt Gox. I get the same vibes today it might take 10 years but nothing is different now, Bitcoin will be $100k eventually.
arcticbull 7y ago
The market can always remain irrational longer than you can remain solvent. There were and continue to be myriad reasons to get the heck out. You can ignore them and bet on irrationality but that isn't a substitute for looking a "reason to get out" - there's boatloads.

NeutronStar 7y ago

Maybe time to get out but if you got in below 10k usd/btc before the late 2017 spike or even after, then you're still profitable today.