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> There is no missing out though. If you were aware of Bitcoin when it was worth a couple hundreds of dollars and you wrote it off as a fad or whatever and tur

> There is no missing out though. If you were aware of Bitcoin when it was worth a couple hundreds of dollars and you wrote it off as a fad or whatever and turns out you were completely wrong about it, you would definitely feel like you missed out, no? Sure, better late than never, but you still can't change that feeling.

paulgb 5y ago
In the same way, we could say there were people who “missed out” on buying Pets.com stock and selling it before it peaked. It doesn't invalidate the point of view of people who were Pets.com skeptics on the ride up. Of course, the question then becomes whether Bitcoin will be more like Pets.com or whether it will climb higher. I have a guess, but I don't claim to know for sure.
- rawtxapp 5y ago
  Pets.com started in 1998 and was gone by 2000, it's more like the ICOs of 2017. Bitcoin has been alive for almost 12 years now and is stronger than ever before. I'm not sure that's a fair comparison.
  - SideburnsOfDoom 5y ago
    > Bitcoin has been alive for almost 12 years now Bernie Madoff's fraud lasted longer than that.
  - paulgb 5y ago
    There's no rule that markets can be extremely irrational, but only for up to two years.
trabant00 5y ago
Let me give you my experience: people begged me to get into bitcoin when it was a couple of $. It just didn't sound interesting to me so I ignored it. Did I miss out? Yes, but MAYBE a few hundred $. I would have sold at 50 and I would have absolutely sold at 100$, get a nice phone and that's that. In no scenario would I have bought at 5 and hold on to it until it was 40k. Not to mention that the entire argument is based on a get rich quick scheme which is exactly what the doubters argue crypto coins are, and the entire post which I replied to originally can be summed up to 50Cent "You just jealous cause I'm rich".
lottin 5y ago
Feel that I missed out, why? If your investing strategy relies on being able to predict the future prices of individual assets it's not a very good strategy, and having been right about a particular asset doesn't mean you're smart or that you're a skilled investor. Anyone who knows anything about investing knows this.
UncleMeat 5y ago
But that's true for oodles of things. Yes, I could have mined some BTC a decade ago. Yes, I could have gone to the lunch when they gave out free XLM. But there are also an absolutely enormous number of ways I could have made megamillions. I could have bought a ton of GME last year. This approach enables you to disregard the opinion of literally everybody who owns no BTC. That's going to cause trouble.
rsynnott 5y ago
> If you were aware of Bitcoin when it was worth a couple hundreds of dollars and you wrote it off as a fad or whatever and turns out you were completely wrong about it, you would definitely feel like you missed out, no? I was aware of Bitcoin when it was under a dollar. I wrote it off as a fad. I continue to write it off as a fad, albeit one that became more dangerous than I expected.

paulgb 5y ago

In the same way, we could say there were people who “missed out” on buying Pets.com stock and selling it before it peaked. It doesn't invalidate the point of view of people who were Pets.com skeptics on the ride up. Of course, the question then becomes whether Bitcoin will be more like Pets.com or whether it will climb higher. I have a guess, but I don't claim to know for sure.

rawtxapp 5y ago
Pets.com started in 1998 and was gone by 2000, it's more like the ICOs of 2017. Bitcoin has been alive for almost 12 years now and is stronger than ever before. I'm not sure that's a fair comparison.
- SideburnsOfDoom 5y ago
  > Bitcoin has been alive for almost 12 years now Bernie Madoff's fraud lasted longer than that.
- paulgb 5y ago
  There's no rule that markets can be extremely irrational, but only for up to two years.

trabant00 5y ago

Let me give you my experience: people begged me to get into bitcoin when it was a couple of $. It just didn't sound interesting to me so I ignored it. Did I miss out? Yes, but MAYBE a few hundred $. I would have sold at 50 and I would have absolutely sold at 100$, get a nice phone and that's that. In no scenario would I have bought at 5 and hold on to it until it was 40k. Not to mention that the entire argument is based on a get rich quick scheme which is exactly what the doubters argue crypto coins are, and the entire post which I replied to originally can be summed up to 50Cent "You just jealous cause I'm rich".

lottin 5y ago

Feel that I missed out, why? If your investing strategy relies on being able to predict the future prices of individual assets it's not a very good strategy, and having been right about a particular asset doesn't mean you're smart or that you're a skilled investor. Anyone who knows anything about investing knows this.

UncleMeat 5y ago

But that's true for oodles of things. Yes, I could have mined some BTC a decade ago. Yes, I could have gone to the lunch when they gave out free XLM. But there are also an absolutely enormous number of ways I could have made megamillions. I could have bought a ton of GME last year. This approach enables you to disregard the opinion of literally everybody who owns no BTC. That's going to cause trouble.

rsynnott 5y ago

> If you were aware of Bitcoin when it was worth a couple hundreds of dollars and you wrote it off as a fad or whatever and turns out you were completely wrong about it, you would definitely feel like you missed out, no? I was aware of Bitcoin when it was under a dollar. I wrote it off as a fad. I continue to write it off as a fad, albeit one that became more dangerous than I expected.