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I bought bitcoin first time when it was below $10. Happy to be stupid and have those thousand percent gains.

by spurdoman77 6y ago

thomasz 6y ago
Enough people sunk their whole live savings and then some into this. They are less happy than you are.
- spurdoman77 6y ago
  With any financial instruments there are those for who it is a worse deal than alternative. With Bitcoin you have great volatility, but it has been mostly upwards. If you have made loss you are probably minority of the user/investor base. For example, the current ATH was nearly $20k, and the current price is $9k. If you were unlucky enough to buy at ATH, you are down to 40%. Thats still not that bad situation - for example with stocks it is easy to find bets where you lose 90%.
- DarkWiiPlayer 6y ago
  Sinking your whole life savings into something is stupid and it's peoples own fault if they do so and lose everything.
- nangz 6y ago
  Sunk half my life savings in at $16, then doubled down and sunk the rest in when it dropped to $3. Have now bought a house each for pretty much all my close friends and family members.
  - karlp 6y ago
    Couldn't a gambler say exactly the same thing?
    - _-___________-_ 6y ago
      Usually, no.
    - spurdoman77 6y ago
      With gambling the winners is very, very small minority. With bitcoin/crypto practically all people who got in before 2017 have been doing very, very well.
treebornfrog 6y ago
Early Ethereum buyer checking in. Although, most of my holdings are now BTC & XMR. XMR or Monero, is the best cryptocurrency IMO. Ledger is totally opaque. Actually works like cash.
- abnercoimbre 6y ago
  > Early Ethereum buyer checking in. Hopeful about ETH tokens rising in value soon? ETH 2.0 is coming later this year, which may shake things up one way or another.
  - treebornfrog 6y ago
    I don't know, I'm a little worried about 2.0 as they've delayed it for so long.
- kylegordon 6y ago
  Ledger is totally opaque? Maybe I'm confused, but opaque means not transparent. Surely you'd want the opposite?
  - Fjolsvith 6y ago
    What ledger is used for tracking cash?
  - RandomBacon 6y ago
    Transparent means people can tell how much money you have, how long you've had it, where you got it from, and where you send it. An opaque chain means outside observers can't really do that. If people have the private key, of course they can, or if they have view keys they can. The the chain is verifiable even while being opaque thanks to the beauty of mathematics.
prepend 6y ago
Of course, that’s reasonable that you would be happy with your luck. Buying lotto tickets is irrational as well, but the winners are happy. Some speculators end up ok. As much value has been lost by bitcoin as created (ie, someone bought at $20k and lost at $10k, etc). I’m glad you made a ton of cash, I hope you can retire. But this volatility is really bad for currency.

I bought bitcoin first time when it was below $10. Happy to be stupid and have those thousand percent gains.

thomasz 6y ago

Enough people sunk their whole live savings and then some into this. They are less happy than you are.

spurdoman77 6y ago
With any financial instruments there are those for who it is a worse deal than alternative. With Bitcoin you have great volatility, but it has been mostly upwards. If you have made loss you are probably minority of the user/investor base. For example, the current ATH was nearly $20k, and the current price is $9k. If you were unlucky enough to buy at ATH, you are down to 40%. Thats still not that bad situation - for example with stocks it is easy to find bets where you lose 90%.
DarkWiiPlayer 6y ago
Sinking your whole life savings into something is stupid and it's peoples own fault if they do so and lose everything.
nangz 6y ago
Sunk half my life savings in at $16, then doubled down and sunk the rest in when it dropped to $3. Have now bought a house each for pretty much all my close friends and family members.
- karlp 6y ago
  Couldn't a gambler say exactly the same thing?
  - _-___________-_ 6y ago
    Usually, no.
  - spurdoman77 6y ago
    With gambling the winners is very, very small minority. With bitcoin/crypto practically all people who got in before 2017 have been doing very, very well.

treebornfrog 6y ago

Early Ethereum buyer checking in. Although, most of my holdings are now BTC & XMR. XMR or Monero, is the best cryptocurrency IMO. Ledger is totally opaque. Actually works like cash.

abnercoimbre 6y ago
> Early Ethereum buyer checking in. Hopeful about ETH tokens rising in value soon? ETH 2.0 is coming later this year, which may shake things up one way or another.
- treebornfrog 6y ago
  I don't know, I'm a little worried about 2.0 as they've delayed it for so long.
kylegordon 6y ago
Ledger is totally opaque? Maybe I'm confused, but opaque means not transparent. Surely you'd want the opposite?
- Fjolsvith 6y ago
  What ledger is used for tracking cash?
- RandomBacon 6y ago
  Transparent means people can tell how much money you have, how long you've had it, where you got it from, and where you send it. An opaque chain means outside observers can't really do that. If people have the private key, of course they can, or if they have view keys they can. The the chain is verifiable even while being opaque thanks to the beauty of mathematics.

prepend 6y ago

Of course, that’s reasonable that you would be happy with your luck. Buying lotto tickets is irrational as well, but the winners are happy. Some speculators end up ok. As much value has been lost by bitcoin as created (ie, someone bought at $20k and lost at $10k, etc). I’m glad you made a ton of cash, I hope you can retire. But this volatility is really bad for currency.