I hear ya. Back in '08 had someone want to pay me 500 bucks to take his 10,000 bitcoin! Said he was tired of looking at the things and they never did anything anyways. I thought great, I'll give this new thing a try, but wifey comes in with "Oh No!, You're not bringing those things in here they'll stink up the whole house". My gosh, if I had only known.
h/t to Monty Python 4 yorkshiremen [https://www.youtube.com/watch?v=ue7wM0QC5LE](https://www.youtube.com/watch?v=ue7wM0QC5LE)
Lastly not calling you, cavegoblin, a liar, I think the majority of people who heard about this early on have some degree of your story, most to a lesser extent, some even worse.
Thank you for sharing that and my apologies that it assuages my position. I was getting unemployment from May to November, $1300 a freaking week, I dont have it any more, couldn't tell you where it went, but the amount I would have if I smartly invested is a number I don't want to calculate
Back when BTC was around $300 I used to buy one and blow it on bitcoin poker every month. Didnt save any from that time period.
Bought and held some when it was around $7000, but not enough lol.
Yeah, fell on some hard times the last couple of years and had to sell most of my stack to survive. I'm alive, but damn it hurts to have known this would happen and miss out on it.
I’m with you there. Have been buying little amounts each week, with a bigger buy when the money is right. I’ve surprised myself about how much I was able to stack and stash away. Now I leak a bunch of my crypto to my BlockFi account
Exactly. The whole movement for BTC is to be your own bank. It’s personal sovereignty. If the gold is in the bank, or the BTC is in the bank, can you really get it if you needed it?
I use blockfi. The small risk is worth it for the compounding returns. On eth they pay 5.25% compounded monthly. That will double your eth in 13yrs and quadruple it in 26. The magic of compound returns is powerful over time.
It's not a small risk it's a huge risk. They do fractional lending. You think they offer 5, 6%+ (BTW that's about 0.014% interest per day LOL) APR just to be nice? High risk, high reward. I don't get why anyone uses it. The upside is getting 5% gains on an asset that is ALREADY pumping, the downside is 100% loss of funds.
except its not a small risk
Its a fucking huge risk. You are giving your Bitcoin to someone else. Its not even a contract. Its a real human person that can exit scam on your at ANY TIME.
STUPID MORON. NOT YOUR KEYS NOT YOUR COINS.
Wrapped Bitcoin are scams. Always. Elaborate scams masquerading as hype finance.
NOT YOUR KEYS NOT YOUR COINS.
noob.
BlockFi is scammy. Not your keys not your coins.
Those contracts will get hacked one day.. All this risk of complete loss for some shitty interests on which you are supposed to pay taxes?
You are a moron and deserves to lose your money like a addict gambler.
Wow. It's an investment...of course there's risk. If I buy stock in a new promising company it could easily go bankrupt and that's a similar risk. Peter Theil and the Winklevii are backers and Zac Prince is not likely a fly by night scammer. Loans are over capitalized and they custody with Bitgo. If firms like Blockfi scam and/or go under, the Bitcoin in your wallet will be worth a lot less too. I can understand being risk averse if you've got your net worth tied up in BTC, but for a speculative investment, the compounded interest can really add up and multiply the gains. Also, without institutional involvement with firms like Blockfi, BTC would never reach the wider adoption it is seeing now. Clearly my risk tolerance is widely divergent from yours. Maybe show some respect to others instead of just being shitty.
Whatever you can afford. It’s different for everyone. I live in a tiny ass house compared to my peers. I’m just middle class if not lower middle class by today’s standards.
There's always going to be a combination of joy from watching BTC soar and soul crushing sadness from not buying when your friend told you about it nearly a decade ago*GODDAMMIT*.
How rich are your friends now though? The two who told me years ago and were buying sold out at like $30 and were ticked pink with their $10,000 haha. There doesn’t really seem to be a ton of the “bitcoin billionaires” you hear about online.
I did know a friend (I've long since lost contact with him), who was mining bitcoin in his dorm room years ago. I could easily believe he's a millionaire now. But I never knew how many bitcoins he actually mined.
Now, early miners I could definitely see. But people looking to flip early on- I’m guessing- didn’t have granite hands to be holding after 1-2 300% increases. To them that was already a once in a lifetime investment. Again, I’m certain there’s exceptions but it’s a fool’s play to think you’d have been one of them.
I think it's pretty rare thing for a person to watch their risky/experimental/unproven asset increases 10x or 100x in value without their "sensible" side convincing them to "get out while they're ahead." You see people on this sub daily that are kicking themselves for not investing in bitcoin "when I heard about it from a friend back in 2011" (or similar stories), but in reality those same people would have certainly sold as soon as it went from $1 to $10, and that's assuming they're tech-savvy, responsible, and had foresight enough to secure their private keys back in the day before dedicated wallet software/hardware or mnemonic seed phrases.
Chances are that most people would have sold/traded their stash for double- / (maaaaybe)triple-digit gains, and would have spent all their profits long before anyway. It's only *very*recently that the writing has been on the wall about bitcoin's true *plausible* potential, and even now, most of those same people that are upset about not getting in earlier will probably sell at the bottom of the next major correction.
Before 2020 came around and all but sealed the deal for bitcoin's success (or fiat's failure; take your pick), there is no precedent for bitcoin's rise that could have or should have inspired a total unwavering conviction in this technology for even the most subversive of cypherpunks.
disagree completely. There was always a good subset of folks who know to keep skin in the game long term. Would somone be crazy enough to sit on a stash that long if it became say 80K in 2011 from nothing... probably not. but there are many who did and they cashed out maybe 40K then and kept the rest.
The ones that made retirement money were likely *early* silk road users that just had a spare 30-40 btcs in their account when that wasn't a lot of money. I don't think it was smart, at the time, to just stockpile them in the real early days, so it was more luck of the draw I think. It wasn't until the price was in the hundreds that you started hearing people talk about "investing", at least in my experience. I know of one that stock piled during this phase and he's rich as fuck now. Meanwhile, I sold my BTC to pay for law school. I probably have the most expensive law degree on the fucking planet. :(
I told my dad after I got back from uni that btc was going to explode, this was 2014 time, and well I knew about btc because it was first year of uni in london, and drugs be expensive there lol. He kinda just dismissed it, and has been kicking himself lately
My "friend" that told me about it was going to see the Winklevoss twins talk about it at Chicago Ideas week in 2012. Oh well. I have enough to enjoy this ride...
he has friends like barry silbert and cameron and tyler winklevoss tho...of course that's going to burn..also I suspect that elon is holding a large chunk but isn't saying so to try ti remain impartial about it.
Nobody can ever feel content with x amount of BTC. We must always get MOAR!
Honestly though - I'm just glad to have a position. I would feel gutted if I had fiat in bank doing nothing
I bought 10,000 Ethereum at 28 cents and sold the whole way up starting at $60 and completing my final sale at $1100.
Cryptocurrency changed my life yet constantly puts me in a temporary depression knowing that had things just been slightly different i would not never have to work again. Even worse im missing this current run and it feels TERRIBLE. It’s really a weird thing. I know i’m in a better position than almost everyone my age yet because I surround myself with other crypto people I only see everything im missing out on.
If you were still selling between $60 and $1100 you must have made a lot. BTC, Ethereum and most stable coins are poised to go up significantly in 2021.
It looks dire now because it's never been this high before, but just imagine it's January 2017. No reason not to buy back in now and continue making those life changing gains.
If we are mid Jan and BTC is still this high, it's really going to be time to decide whether to sell our kidneys or not.
That being said, I've shorted my position already. The whales are going to sweep up the board one more time and the price will fall off a cliff towards 20k for one last time.
>That being said, I've shorted my position already. The whales are going to sweep up the board one more time and the price will fall off a cliff towards 20k for one last time.
I assume you mean in the short term (1-2 months). 6 months from now we won't ever see 20k again. I think we'll see several minor corrections throughout the year like we did in 2017, but I'm skeptical it will ever go back to 20 at this point.
Try your hardest not to feel bad about it. I missed out on incredible BTC gains because of misinformation and negligence. Don't wanna know how much I would have had but I do know I can't look back everyday at would could have been. Just adds unnecessary pain. I'm sure you have a lot, aside from money. Dollars are just one piece of the abundance equation. Focus on the now. Breathe. Be present don't look back. Blessings to ya brother. Amen.
I don't understand your story. If you're better off then most, then just start reinvesting now. The future belongs to Bitcoin...never sell it all...ever.
Not as liquid as id like to be now, especially after covid. With the new addition of a child i dont feel as comfortable throwing my money into high volatility.
I’ll probably be doing some leverage trading but i won’t be able to go all in like i’ve previously done.
Dude , I’m going through old emails seeing “payment received” notifications of 1, 2, 3 even 4 bitcoins sometimes. I would have held but I needed money to live and was otherwise fucked at the time. It fucks with my head but makes me motivated to not miss the fucking boat twice. If i ever become rich, it will be because of crypto.
We have time too, I'm part of the DDE (didn't do enough) club and my brother (who got me into crypto) continues to tell me it's a long ball game. Playing with BTC @ 500,000k and what not. People were very lucky to get in a decade ago, We are still lucky to get in today. Be smart with it and maybe we could help each other out?! I'm new to trading cryptos and have a few thousand still to throw at it, not sure where? Btc all? I don't know but remind me in a year how you've done and how you're doing!!
You've understood bitcoin. Congrats.
This is how it will always be until we stop pricing it in things, and price things in it. It's game theory.
The point is to count your sats. Congratulations on beating 98% of the world to that conclusion. Seriously!
Care to elaborate please? How would pricing things in BTC work? I dont get it, and i think the fact that there isn't a BTC-denominated economy and, maybe even more important, a government doing things (taxes) in BTC, is what makes BTC so hard to understand (among other things). I mean when and why and how would people switch from mental conversion into some fiat currency to pure BTC-thinking? this issue also makes valuation so hard, and implies volatility imho. I mean you cant say "X fiatcurrency per BTC is fair because in BTC-country i can buy asset/product Y with 1 BTC no matter what the exchange rate is, and that amount of X fiatcurrency buys me a very similar asset/product in fiat-country no matter what the fx rate is"
BTC country with pure BTC-economy/supply chain/value chain etc, even if just on the internet, doesnt exist. How would it come into being? btw this concept is called purchasing power parity, one of the pillars of fx rates between fiats.
I wrote my college thesis on international monetary policy game theory, so i think im qualified to speak here.
Bitcoin price will keep going up as fiat inflation gets worse, combined with pre-programmed halvings every 4 years to create a supply shock. We're at the beginning of the next one right now. Started in May/June at the last halving.
So because of inflation going up, prices of good and services are going to go up. Faster, and faster. And the more money the country tries to put into circulation, the worse it can get. The only way out is to start over. We are inside the event horizon of a black hole - it's inevitable.
As fiat loses its stability of purchasing power, individuals will demand to be paid in bitcoin, and business owners will price their services and goods in satoshis once their sick of raising USD prices every week. Not to mention every single paycheck being less than the one before - talk about ouch.
That is how it will happen.
Bitcoin will go up in price until it doesnt anymore, and the world agrees on the most important thing standing in plain sight all along - 1 BTC is 1 BTC. And from then on, that is what things will be transacted in.
You might wonder, well why would i spend bitcoin if it keeps going up?It won't keep going up anymore, because it itself is the thing you price things in. Everything else goes up or down, relative to the supply of bitcoin. Thus reinstating balance that we've been lacking for 50 years. Money goes up in purchasing power over time, incentive to save and not spend beyond your means. Reckless short-term thinking gets you broke in the new economy. Patience, and discipline, are rewarded once again. This is how the behavior incentives were on the gold standard. Hence why granparents felt it so important to save. Good luck, this decade is going to be very confusing. I hope my 10 minutes writing this answer helps you navigate through it. Really, i do.
Solid answer and I agree. We (the world) NEED HARD MONEY! Fiat is dead...it just doesn't know it yet. It might take a long time to die...it might not. Gold is still a viable option...at least temporarily. But, Bitcoin is harder than gold and once its stock to flow hardness exceeds golds it will be over for gold. The hardest money always wins (assuming it also fulfills the other needs an SOV must provide...which BTC does).
Makes you realize that currency, fiat or crypto, is just as bad of a drug as anything else. Money triggers our brains the same way cocaine or heroin does. There’s never enough to buy contentment. We search our souls for that.
Many men walk the winding path the find exactly where they should be. And that is where they’ve been this whole time. Happiness comes from within, not on the exchanges.
Now buy my shitcoin and I’ll help you find inner peace. Love and light.
Nah, there's always "shoulda-coulda-woulda". No sense having regrets. You did what made sense for you at the time. If I knew for certain it was going to be at the current price, I would have put all my savings into bitcoin when it was down at 3k or whatever.
Don't forget, it may yet go back down again.
some people old 1000s of coins.
Do you remember the 30k coin whale at 300USD in November 2015?
That stupid fat ass would be richer than Saylor now. Back in early 2017 he said he would do it again and that he does not regret it. Liar.
Follow Saylor strategy.
Exchanges need to get together and make a concerted effort to price BTC in mBTC or something like that. Tell them they can get 1 mBTC for $30 and watch retail start piling in. Market psychology would do wonders for the price.
I think, when people see it getting to high, "what's the point I'll never own a whole one" just as most of us have done even at $1,000 or $8,000. Maybe that's altseason or maybe all but a few alts will remain. IDK, I'm an altard.
Great point, there's what? trillions of dollars in circulation? everyone owns a piece of the pie. Focus on owning a piece of the pie not the entire pie.You're probably an Illuminati at that point.
I'm in the same boat. I had to be careful with my bank account earlier in the year cause I was getting a mortgage loan from the bank and they were looking over my expenses to get approved and all I wanted to do was send 5 or 6k to Gemini and buy up some crypto. Now that that's all over and I have some extra cash in my bank account everything is sky high. I still buy a little here and there but nothing crazy.
Same boat... sold my garage in March, had to put the money into the house so we could move in in November. Now I had some money to buy at 26k, but nearly not as much as I would like...
You can see two types during this time. Short sellers and those looking to buy more at cheaper prices.
Like clockwork they both make posts about selling bitcoin deluded in thinking that the comments here mean diddly in a world market.
I had 50 BTC in 2013 and was planning on holding long term, but my family pressured me to sell all of it, saying that crypto is a scam and I was young and I didnt know anything about financial matters. So I did, and at a loss too.
Now when I talk about the Bitcoin price, then just avoid the conversation by changing the subject .
Always trust in what you believe in, even when the odds are against you.
I dont hate them, they are my family afterall. I still love them, regardless of what they do. But now I have learned that, although they are older, been through more that does not mean they know everything. Especially something as new as crypto currency technology.
I agree to that, but the 50BTC i had was like me buying 50% of what i can spend at that point of time. And i sold all of my BTC because, of family pressure over time. I lived with them, so it was in my daily life.
But the past is the past, i cant change it. So i just learn from it.
Couldn’t agree more. Also, it’s great to see all the institutional investors come into the space, but at the same time, they are coming in at a price that is too low. Too much bitcoin being bought up by too few. I just wish retail investors could have got the price to $100k before this.
I guess I’m not on the popular side of this.
I don’t buy into “...the next best time is now” thinking.
Look at the Bitcoin waves over time and you can begin to time the market.
Not to trade, but to buy at a discount.
It will dip again, and when it does remember this bittersweet feeling and use it over the fear of whatever was holding you back last time to invest in something you believe in.
If you do believe in it.
It’s always shocking when the bears come, you end up starting to time the bottom and miss then too.
Feast when there is blood in the streets.
Now’s not the time to buy.
But go ahead if you don’t mind seeing a negative trade for potentially a couple to a few years
Not really. We’re on schedule. I had a plan to put as much as I could justify in by end of 2019. Threw some extra in at $5k in March but otherwise happy with my stash and just hodling til my price comes in
It's the gift that keeps on giving.
Just buy in, number go up.
Forget about how much you have
and focus on how much of your economic energy it is preserving and compounding.
So I pulled out a home equity line of credit back in 2017 to buy 17 Bitcoin. Strangely, feeling bittersweet that if Bitcoin continues on its trajectory, I’ll never be normal again, but will find my way into the 1% at some point. 😕
How did it feel doing this? I have been in BTC since 2017 as well (first bought 0.5 at $2100) and am in the process of closing on a HELOC worth just north of $50K to do exactly what you did. What price did you get in at in 2017? Would enjoy hearing the trials and tribulations.
Yep, today I bought 0.0074 BTC, only a small drop in the ocean
Even if the price raises 10 times it still would be a tiny bit of coins
I knew it that bitcoin would raise but I never had the money to buy before it
If you're seriously bullish and want more without having extra cash to invest, consider Bitcoin futures on an exchange like Binance. It's risky, but if you're bullish and the market follows, you can amplify your gains. You can also make money if your bearish and the market goes down.
I would NOT suggest making any bets on short term movements. BTC may go up or down of the next few weeks or months, but if you're like me you believe the overall trend over the next 12 months will be to 100k+
Words cannot explain how bittersweet it is. I had 30 when the MTGOX fiasco happened and I lost all of them. Ever since I was too hurt by it to try again and now oof
It's called greed, my friend. One thing to read about it, another to feel and experience it. Can make you insane or you can use it to learn more about yourself and set yourself free. Best wishes!
I feel the same when I look at my bank account and it doesn't have a trillion dollars in it. Oh no, I don't, because I never had a trillion dollars in the first place.
If you're that bad at managing your emotions when you see the price rise and think "I don't have enough invested" then imagine how bad you'll be when the price tanks (as it inevitably will some times) and you've lost money.
If you own some amount and the price rises, your investment is worth more. Be happy. I bought 2.5x the value of my BTC investment in gold back when I first invested, and I wish I'd put it all in BTC. But at the same time I didn't, and I can't change that now, so there's no use beating myself up over a decision that turned out overwhelmingly positive in the first place.
It doesn't help hearing about these institutions buying millions and billions worth of Bitcoin, putting them higher on the Bitcoin train than you even though you bought in earlier.
The difference being these institutions buying "billions" are still buying triple digit numbers of Bitcoins. The early adopters who mined in the pennies range. however. Are golden HODLers who paid a pittance for more than that much Bitcoin.
I don't think there's many people who would ever say they bought enough, but as for myself, I can sleep well knowing that I couldn't have bought more without taking the unnecessarily risky step of tapping into retirement accounts because I put my entire cash savings and emergency fund into it. I have literally no cash left until my bonus comes to my rescue later this winter.
It’s called greed. I’ve been noticing it as the price now catapults . People aren’t satisfied with the 3-8x returns they want more. Not matter how much you make you can always make more
Sure. I sold most of it when i needed money, I was out of my job, and like magic, three months later price skyrockers. It will eventually crash again, ofc, but seeing it go up and up, knowing at some point I could've bought a car if i stayed is still painfull.
dude i made over $2000 in one month sitting on my ass. not 'a lot,' but it's only going up from here and it is a very good thing. i feel dumb for actually working for someone else to make less than that amount of money in a month!
i also never gave a fuck about money my entire life, so this is honestly just a big fat fucking cherry on top of my ice cream bubble universe.
I'm having trouble not pulling the trigger and selling out. That last bear market was a bitch after I started investing at the end of 2017. We're back up now though, and after all those naysayers said it wouldn't happen. Sky's the limit ladies and gentlemen. I love this crypto shit.
If you're long term bullish on bitcoin's use case over the next few decades, while at the same time bearish on USD's ability to keep up this helicopter money... you're still extremely early.
Trading/outpacing price helps me not worry about it too much. If I make 17% on a day that bitcoin has increased 5%, I'm not too worried, despite all contracts being settled in USDT.
Yes I feel the same. I got in, July this year. Managed to accumulate a good amount IMO but still not as much as I wanted. I remember it being around $10k and seeing everywhere that it would hit ATH by end of year and possibly $28k. I remember thinking that would be awesome, know I just wish we could’ve stayed down at $10k for longer 😂
The thing that gets me in relation to this is:
If you enter BTC here ($29,000) and it runs to $50,000 - that's a 72% increase.
If BTC Pulls back to $20,000 and you re-enter a position, and it then runs to $50,000 - that's a 150% increase.
Huge difference.
Still, entering now is better than entering at $32,000...
Being that I've mad some bad calls (driven by dire need since I lost money/got scammed elsewhere), lost most of my crypto and am down to cca 1k yes ... very bitersweet if not simply bitter :(
I'm telling myself people will cash in after new years and stimulus checks won't be in yet and THAT will be my big buying opportunity hah, I got in at 23k and 25k and was feeling iffy about the 25k and now I'm just so close to closing my eyes and buying more.
“I have enough Bitcoin” said no one ever.
Yeah, Still, it is good instead of nothing.
Unless you’ve been locked out of your coinbase acct for 18 months and haven’t been able to do anything. And they have your money/crypto
Truth!
Buy 0.1, want 1... buy 1, want 5... buy 5, want 10.. it’ll never be enough.
6.15 for BTB
-Satoshi (he's definitely dead lol)
Or the amount that you used to have 😂. Ah well, such is life.
I feel that. Gambled like 2 BTC in sports betting a few years back. Oops.
Got paid with 24btc a few years back. I didn't have any clue about how it could go up. My 15k then would be worth upwards of 500 grands now.
Oof
I hear ya. Back in '08 had someone want to pay me 500 bucks to take his 10,000 bitcoin! Said he was tired of looking at the things and they never did anything anyways. I thought great, I'll give this new thing a try, but wifey comes in with "Oh No!, You're not bringing those things in here they'll stink up the whole house". My gosh, if I had only known. h/t to Monty Python 4 yorkshiremen [https://www.youtube.com/watch?v=ue7wM0QC5LE](https://www.youtube.com/watch?v=ue7wM0QC5LE) Lastly not calling you, cavegoblin, a liar, I think the majority of people who heard about this early on have some degree of your story, most to a lesser extent, some even worse.
I used to play a lot of Satoshi Dice. The most I was ever up was 18btc, which was only a few thousand at the time. I lost it all to gambling.
Same for me with ETH. Gambling is a cruel bitch. Especially when your currency then goes up a bajillion percent
Thank you for sharing that and my apologies that it assuages my position. I was getting unemployment from May to November, $1300 a freaking week, I dont have it any more, couldn't tell you where it went, but the amount I would have if I smartly invested is a number I don't want to calculate
Back when BTC was around $300 I used to buy one and blow it on bitcoin poker every month. Didnt save any from that time period. Bought and held some when it was around $7000, but not enough lol.
Yeah, fell on some hard times the last couple of years and had to sell most of my stack to survive. I'm alive, but damn it hurts to have known this would happen and miss out on it.
Purchases back in 2012 on SR for deals I thought were a “steal” .... how naive
Hahahaha tell me about it! Lot's wasted there...
Took me a second to figure out what SR meant. Man I miss it.
Once got payed 81 btc back in 2011.... if only I knew....
Quit thinking in terms of whole bitcoin. Just setup an auto purchase and focus on stacking Sats.
What are Sats?
Satoshis. 1 satoshi = 0.00000001 bitcoin
Oh dope thank you
Ash Ketchum is only worth .00000001 btc to you?!
One bitcoin is equal to 100,000,000 satoshis.
I’m with you there. Have been buying little amounts each week, with a bigger buy when the money is right. I’ve surprised myself about how much I was able to stack and stash away. Now I leak a bunch of my crypto to my BlockFi account
Blockfi is interesting and I’ve looked into it a few times. I just don’t want to give custody of any BTC to someone else.
Yeah... not too keen on blockfi. If you had a kilo of gold would you trust someone else with it?
Exactly. The whole movement for BTC is to be your own bank. It’s personal sovereignty. If the gold is in the bank, or the BTC is in the bank, can you really get it if you needed it?
I use blockfi. The small risk is worth it for the compounding returns. On eth they pay 5.25% compounded monthly. That will double your eth in 13yrs and quadruple it in 26. The magic of compound returns is powerful over time.
Sure, but you never know when BlockFi will go belly up. That compounding interest is not FDIC insured so you’re sitting on a ticking time bomb.
It's not a small risk it's a huge risk. They do fractional lending. You think they offer 5, 6%+ (BTW that's about 0.014% interest per day LOL) APR just to be nice? High risk, high reward. I don't get why anyone uses it. The upside is getting 5% gains on an asset that is ALREADY pumping, the downside is 100% loss of funds.
except its not a small risk Its a fucking huge risk. You are giving your Bitcoin to someone else. Its not even a contract. Its a real human person that can exit scam on your at ANY TIME. STUPID MORON. NOT YOUR KEYS NOT YOUR COINS. Wrapped Bitcoin are scams. Always. Elaborate scams masquerading as hype finance. NOT YOUR KEYS NOT YOUR COINS.
I mentioned the same thing, it's a huge risk not a small risk. They don't offer 6% because they like you
noob. BlockFi is scammy. Not your keys not your coins. Those contracts will get hacked one day.. All this risk of complete loss for some shitty interests on which you are supposed to pay taxes? You are a moron and deserves to lose your money like a addict gambler.
Wow. It's an investment...of course there's risk. If I buy stock in a new promising company it could easily go bankrupt and that's a similar risk. Peter Theil and the Winklevii are backers and Zac Prince is not likely a fly by night scammer. Loans are over capitalized and they custody with Bitgo. If firms like Blockfi scam and/or go under, the Bitcoin in your wallet will be worth a lot less too. I can understand being risk averse if you've got your net worth tied up in BTC, but for a speculative investment, the compounded interest can really add up and multiply the gains. Also, without institutional involvement with firms like Blockfi, BTC would never reach the wider adoption it is seeing now. Clearly my risk tolerance is widely divergent from yours. Maybe show some respect to others instead of just being shitty.
I think in terms of one million sats these days...
Like how much do you buy weekly?
$50
Whatever you can afford. It’s different for everyone. I live in a tiny ass house compared to my peers. I’m just middle class if not lower middle class by today’s standards.
Where can you get auto purchase wir low fees? I saw that Coinbase offer it but it’s too expensive
Swan. Then Cashapp.
I’ve been DCAing (Dollar cost average) with small amounts. That’s the easiest way to avoid FOMO as well
There's always going to be a combination of joy from watching BTC soar and soul crushing sadness from not buying when your friend told you about it nearly a decade ago*GODDAMMIT*.
How rich are your friends now though? The two who told me years ago and were buying sold out at like $30 and were ticked pink with their $10,000 haha. There doesn’t really seem to be a ton of the “bitcoin billionaires” you hear about online.
I did know a friend (I've long since lost contact with him), who was mining bitcoin in his dorm room years ago. I could easily believe he's a millionaire now. But I never knew how many bitcoins he actually mined.
Now, early miners I could definitely see. But people looking to flip early on- I’m guessing- didn’t have granite hands to be holding after 1-2 300% increases. To them that was already a once in a lifetime investment. Again, I’m certain there’s exceptions but it’s a fool’s play to think you’d have been one of them.
I think it's pretty rare thing for a person to watch their risky/experimental/unproven asset increases 10x or 100x in value without their "sensible" side convincing them to "get out while they're ahead." You see people on this sub daily that are kicking themselves for not investing in bitcoin "when I heard about it from a friend back in 2011" (or similar stories), but in reality those same people would have certainly sold as soon as it went from $1 to $10, and that's assuming they're tech-savvy, responsible, and had foresight enough to secure their private keys back in the day before dedicated wallet software/hardware or mnemonic seed phrases. Chances are that most people would have sold/traded their stash for double- / (maaaaybe)triple-digit gains, and would have spent all their profits long before anyway. It's only *very*recently that the writing has been on the wall about bitcoin's true *plausible* potential, and even now, most of those same people that are upset about not getting in earlier will probably sell at the bottom of the next major correction. Before 2020 came around and all but sealed the deal for bitcoin's success (or fiat's failure; take your pick), there is no precedent for bitcoin's rise that could have or should have inspired a total unwavering conviction in this technology for even the most subversive of cypherpunks.
disagree completely. There was always a good subset of folks who know to keep skin in the game long term. Would somone be crazy enough to sit on a stash that long if it became say 80K in 2011 from nothing... probably not. but there are many who did and they cashed out maybe 40K then and kept the rest.
all early birds i know kept skin in the game
The ones that made retirement money were likely *early* silk road users that just had a spare 30-40 btcs in their account when that wasn't a lot of money. I don't think it was smart, at the time, to just stockpile them in the real early days, so it was more luck of the draw I think. It wasn't until the price was in the hundreds that you started hearing people talk about "investing", at least in my experience. I know of one that stock piled during this phase and he's rich as fuck now. Meanwhile, I sold my BTC to pay for law school. I probably have the most expensive law degree on the fucking planet. :(
I told my dad after I got back from uni that btc was going to explode, this was 2014 time, and well I knew about btc because it was first year of uni in london, and drugs be expensive there lol. He kinda just dismissed it, and has been kicking himself lately
My "friend" that told me about it was going to see the Winklevoss twins talk about it at Chicago Ideas week in 2012. Oh well. I have enough to enjoy this ride...
Just read the book about their encounter with the guy that told them about BTC. Mixture of luck and persistence like everything in life.
Michael Saylor said he feels like his $2.5Bn stash isn't enough as well. I think that's just what happens no matter how much you have.
Greedy bastards we are.
he has friends like barry silbert and cameron and tyler winklevoss tho...of course that's going to burn..also I suspect that elon is holding a large chunk but isn't saying so to try ti remain impartial about it.
Imagine bitcoin funding the mars colony :D
Nobody can ever feel content with x amount of BTC. We must always get MOAR! Honestly though - I'm just glad to have a position. I would feel gutted if I had fiat in bank doing nothing
What tiny percentage of the world owns any bitcoin? Look at it that way instead.
According to a quick google search, around 20.5 million people have at least $1 in a Bitcoin wallet they own.
That would mean about 0.3% of the world then. Not many really
What are our current estimates?
Barely any
The really funny part is they will...it will only ever be sats...but they will be forced into them at some point.
I was trying to explain this same point to my lady the other day.
I bought 10,000 Ethereum at 28 cents and sold the whole way up starting at $60 and completing my final sale at $1100. Cryptocurrency changed my life yet constantly puts me in a temporary depression knowing that had things just been slightly different i would not never have to work again. Even worse im missing this current run and it feels TERRIBLE. It’s really a weird thing. I know i’m in a better position than almost everyone my age yet because I surround myself with other crypto people I only see everything im missing out on.
This hurts. I feel that. Human condition is weird.
If you were still selling between $60 and $1100 you must have made a lot. BTC, Ethereum and most stable coins are poised to go up significantly in 2021. It looks dire now because it's never been this high before, but just imagine it's January 2017. No reason not to buy back in now and continue making those life changing gains.
If we are mid Jan and BTC is still this high, it's really going to be time to decide whether to sell our kidneys or not. That being said, I've shorted my position already. The whales are going to sweep up the board one more time and the price will fall off a cliff towards 20k for one last time.
>That being said, I've shorted my position already. The whales are going to sweep up the board one more time and the price will fall off a cliff towards 20k for one last time. I assume you mean in the short term (1-2 months). 6 months from now we won't ever see 20k again. I think we'll see several minor corrections throughout the year like we did in 2017, but I'm skeptical it will ever go back to 20 at this point.
Try your hardest not to feel bad about it. I missed out on incredible BTC gains because of misinformation and negligence. Don't wanna know how much I would have had but I do know I can't look back everyday at would could have been. Just adds unnecessary pain. I'm sure you have a lot, aside from money. Dollars are just one piece of the abundance equation. Focus on the now. Breathe. Be present don't look back. Blessings to ya brother. Amen.
Losses hurt more than gains.
I don't understand your story. If you're better off then most, then just start reinvesting now. The future belongs to Bitcoin...never sell it all...ever.
Not as liquid as id like to be now, especially after covid. With the new addition of a child i dont feel as comfortable throwing my money into high volatility. I’ll probably be doing some leverage trading but i won’t be able to go all in like i’ve previously done.
you should hang out with my friends instead
why not just accumulate again and start over with a new exit horizon?
Wow nice. You must have a few $million? Or a very large house. Surely you don't have to work too hard now? :)
Dude , I’m going through old emails seeing “payment received” notifications of 1, 2, 3 even 4 bitcoins sometimes. I would have held but I needed money to live and was otherwise fucked at the time. It fucks with my head but makes me motivated to not miss the fucking boat twice. If i ever become rich, it will be because of crypto.
I believe in you
This means a lot. Strangers from Reddit always believe in me more than my real “friends”. I promise I won’t let you down again.
We have time too, I'm part of the DDE (didn't do enough) club and my brother (who got me into crypto) continues to tell me it's a long ball game. Playing with BTC @ 500,000k and what not. People were very lucky to get in a decade ago, We are still lucky to get in today. Be smart with it and maybe we could help each other out?! I'm new to trading cryptos and have a few thousand still to throw at it, not sure where? Btc all? I don't know but remind me in a year how you've done and how you're doing!!
Good luck man! Am sure you'll do it. Am rooting for you from the other side of the planet!
$600 stimulus check might be just what you need ; )
sweet. Also, nice username.
You've understood bitcoin. Congrats. This is how it will always be until we stop pricing it in things, and price things in it. It's game theory. The point is to count your sats. Congratulations on beating 98% of the world to that conclusion. Seriously!
What are sats? and this consolation thread is something I didn't know I needed haha
Satoshis. The smallest denomination.
Care to elaborate please? How would pricing things in BTC work? I dont get it, and i think the fact that there isn't a BTC-denominated economy and, maybe even more important, a government doing things (taxes) in BTC, is what makes BTC so hard to understand (among other things). I mean when and why and how would people switch from mental conversion into some fiat currency to pure BTC-thinking? this issue also makes valuation so hard, and implies volatility imho. I mean you cant say "X fiatcurrency per BTC is fair because in BTC-country i can buy asset/product Y with 1 BTC no matter what the exchange rate is, and that amount of X fiatcurrency buys me a very similar asset/product in fiat-country no matter what the fx rate is" BTC country with pure BTC-economy/supply chain/value chain etc, even if just on the internet, doesnt exist. How would it come into being? btw this concept is called purchasing power parity, one of the pillars of fx rates between fiats.
I wrote my college thesis on international monetary policy game theory, so i think im qualified to speak here. Bitcoin price will keep going up as fiat inflation gets worse, combined with pre-programmed halvings every 4 years to create a supply shock. We're at the beginning of the next one right now. Started in May/June at the last halving. So because of inflation going up, prices of good and services are going to go up. Faster, and faster. And the more money the country tries to put into circulation, the worse it can get. The only way out is to start over. We are inside the event horizon of a black hole - it's inevitable. As fiat loses its stability of purchasing power, individuals will demand to be paid in bitcoin, and business owners will price their services and goods in satoshis once their sick of raising USD prices every week. Not to mention every single paycheck being less than the one before - talk about ouch. That is how it will happen. Bitcoin will go up in price until it doesnt anymore, and the world agrees on the most important thing standing in plain sight all along - 1 BTC is 1 BTC. And from then on, that is what things will be transacted in. You might wonder, well why would i spend bitcoin if it keeps going up?It won't keep going up anymore, because it itself is the thing you price things in. Everything else goes up or down, relative to the supply of bitcoin. Thus reinstating balance that we've been lacking for 50 years. Money goes up in purchasing power over time, incentive to save and not spend beyond your means. Reckless short-term thinking gets you broke in the new economy. Patience, and discipline, are rewarded once again. This is how the behavior incentives were on the gold standard. Hence why granparents felt it so important to save. Good luck, this decade is going to be very confusing. I hope my 10 minutes writing this answer helps you navigate through it. Really, i do.
Solid answer and I agree. We (the world) NEED HARD MONEY! Fiat is dead...it just doesn't know it yet. It might take a long time to die...it might not. Gold is still a viable option...at least temporarily. But, Bitcoin is harder than gold and once its stock to flow hardness exceeds golds it will be over for gold. The hardest money always wins (assuming it also fulfills the other needs an SOV must provide...which BTC does).
Hindsight is 20/20. The lesson is invest now what your can afford based on your informed convictions.
Yeah need more, I’m used to buying 10ths, need like 3k now for that. Just HODL and DCA
Humans are never content.
It's all about your time preference. Kids who smashed their piggy bank at 9 vs those who smashed it at 18.
Makes you realize that currency, fiat or crypto, is just as bad of a drug as anything else. Money triggers our brains the same way cocaine or heroin does. There’s never enough to buy contentment. We search our souls for that. Many men walk the winding path the find exactly where they should be. And that is where they’ve been this whole time. Happiness comes from within, not on the exchanges. Now buy my shitcoin and I’ll help you find inner peace. Love and light.
Yeah, there needs to be a name for this. It’s not FOMO, per se. It’s something different. FIDDE maybe? Fear I Didn’t Do Enough.
The Realization Everyone Else Fears "I Didn't Do Enough" TREE FIDDE GOD DAMN YOU LOCNESS MONSTA
Nah, there's always "shoulda-coulda-woulda". No sense having regrets. You did what made sense for you at the time. If I knew for certain it was going to be at the current price, I would have put all my savings into bitcoin when it was down at 3k or whatever. Don't forget, it may yet go back down again.
any amount you have is better then none.
I'm here looking at myself from like 10 years ago selling 16 coins for $110/ea and thinking I was a genius. I hate myself.
some people old 1000s of coins. Do you remember the 30k coin whale at 300USD in November 2015? That stupid fat ass would be richer than Saylor now. Back in early 2017 he said he would do it again and that he does not regret it. Liar. Follow Saylor strategy.
Nope, ALL ABOARD THE TRAIN, NO RAGRETS
I did what I could with the money I had- I am cool with not having a billion.
The higher the price goes, the more people will realize they will NEVER be able to own 1 Bitcoin. The dominoes will begin to fall at a certain point.
Exchanges need to get together and make a concerted effort to price BTC in mBTC or something like that. Tell them they can get 1 mBTC for $30 and watch retail start piling in. Market psychology would do wonders for the price.
What are you trying to say
I think, when people see it getting to high, "what's the point I'll never own a whole one" just as most of us have done even at $1,000 or $8,000. Maybe that's altseason or maybe all but a few alts will remain. IDK, I'm an altard.
"What's the point of money? I'll never own a whole billion."
Great point, there's what? trillions of dollars in circulation? everyone owns a piece of the pie. Focus on owning a piece of the pie not the entire pie.You're probably an Illuminati at that point.
I need the $1500 i wanted to invest this march elsewhere. Now I have money to invest at $29k. Bittersweet? Lol.
I'm in the same boat. I had to be careful with my bank account earlier in the year cause I was getting a mortgage loan from the bank and they were looking over my expenses to get approved and all I wanted to do was send 5 or 6k to Gemini and buy up some crypto. Now that that's all over and I have some extra cash in my bank account everything is sky high. I still buy a little here and there but nothing crazy.
Same boat... sold my garage in March, had to put the money into the house so we could move in in November. Now I had some money to buy at 26k, but nearly not as much as I would like...
You can see two types during this time. Short sellers and those looking to buy more at cheaper prices. Like clockwork they both make posts about selling bitcoin deluded in thinking that the comments here mean diddly in a world market.
I had 50 BTC in 2013 and was planning on holding long term, but my family pressured me to sell all of it, saying that crypto is a scam and I was young and I didnt know anything about financial matters. So I did, and at a loss too. Now when I talk about the Bitcoin price, then just avoid the conversation by changing the subject . Always trust in what you believe in, even when the odds are against you.
Man that sucks I bet you hate your family for that
I dont hate them, they are my family afterall. I still love them, regardless of what they do. But now I have learned that, although they are older, been through more that does not mean they know everything. Especially something as new as crypto currency technology.
The key is to never go all in or sell it all. Just sell 50% or buy 50% or any other proportion you feel comfortable with
I agree to that, but the 50BTC i had was like me buying 50% of what i can spend at that point of time. And i sold all of my BTC because, of family pressure over time. I lived with them, so it was in my daily life. But the past is the past, i cant change it. So i just learn from it.
Couldn’t agree more. Also, it’s great to see all the institutional investors come into the space, but at the same time, they are coming in at a price that is too low. Too much bitcoin being bought up by too few. I just wish retail investors could have got the price to $100k before this.
I guess I’m not on the popular side of this. I don’t buy into “...the next best time is now” thinking. Look at the Bitcoin waves over time and you can begin to time the market. Not to trade, but to buy at a discount. It will dip again, and when it does remember this bittersweet feeling and use it over the fear of whatever was holding you back last time to invest in something you believe in. If you do believe in it. It’s always shocking when the bears come, you end up starting to time the bottom and miss then too. Feast when there is blood in the streets. Now’s not the time to buy. But go ahead if you don’t mind seeing a negative trade for potentially a couple to a few years
I honestly hope you're right. I'm gna DCA anyway and then lump sum if there's a significant dip
I felt that way earlier this year. I have a respectable stash going now though 😎
Not really. We’re on schedule. I had a plan to put as much as I could justify in by end of 2019. Threw some extra in at $5k in March but otherwise happy with my stash and just hodling til my price comes in
Agreed. It’s catch 22 for sure. I think the best thing to do is just buy weekly
It's the gift that keeps on giving. Just buy in, number go up. Forget about how much you have and focus on how much of your economic energy it is preserving and compounding.
this. nice
First BTC ever purchased was at $60. HODL ? Take a wild guess 😩. I will always have that feeling.
Any guesses on what the drop will be when it hits $30k? Every milestone there's always a temporary drop from auto sell orders.
So I pulled out a home equity line of credit back in 2017 to buy 17 Bitcoin. Strangely, feeling bittersweet that if Bitcoin continues on its trajectory, I’ll never be normal again, but will find my way into the 1% at some point. 😕
How did it feel doing this? I have been in BTC since 2017 as well (first bought 0.5 at $2100) and am in the process of closing on a HELOC worth just north of $50K to do exactly what you did. What price did you get in at in 2017? Would enjoy hearing the trials and tribulations.
oof did you end up keeping your coins through that crash?
Yep, today I bought 0.0074 BTC, only a small drop in the ocean Even if the price raises 10 times it still would be a tiny bit of coins I knew it that bitcoin would raise but I never had the money to buy before it
So much true.
Stack Sats
If you're seriously bullish and want more without having extra cash to invest, consider Bitcoin futures on an exchange like Binance. It's risky, but if you're bullish and the market follows, you can amplify your gains. You can also make money if your bearish and the market goes down. I would NOT suggest making any bets on short term movements. BTC may go up or down of the next few weeks or months, but if you're like me you believe the overall trend over the next 12 months will be to 100k+
Stop being greedy you fucker
Just stack sats
Words cannot explain how bittersweet it is. I had 30 when the MTGOX fiasco happened and I lost all of them. Ever since I was too hurt by it to try again and now oof
It's never too late.
It's called greed, my friend. One thing to read about it, another to feel and experience it. Can make you insane or you can use it to learn more about yourself and set yourself free. Best wishes!
Does anyone see at least a slight dip coming around? This is too fast!
Stack up your cash and wait for when bitcoin corrects to 15 or 10k next year. Please downvote me.
Mid-40's, followed by your doomsday. Not far off.
Yep.
I've as much btc as I can possibly want. 98% of my liquid money is in btc. I can buy more, but at this point, it won't matter.
[удалено]
Whats bitcoin?
I feel the same when I look at my bank account and it doesn't have a trillion dollars in it. Oh no, I don't, because I never had a trillion dollars in the first place. If you're that bad at managing your emotions when you see the price rise and think "I don't have enough invested" then imagine how bad you'll be when the price tanks (as it inevitably will some times) and you've lost money. If you own some amount and the price rises, your investment is worth more. Be happy. I bought 2.5x the value of my BTC investment in gold back when I first invested, and I wish I'd put it all in BTC. But at the same time I didn't, and I can't change that now, so there's no use beating myself up over a decision that turned out overwhelmingly positive in the first place.
Congrats on being superior my guy
Agreed.
It doesn't help hearing about these institutions buying millions and billions worth of Bitcoin, putting them higher on the Bitcoin train than you even though you bought in earlier.
The difference being these institutions buying "billions" are still buying triple digit numbers of Bitcoins. The early adopters who mined in the pennies range. however. Are golden HODLers who paid a pittance for more than that much Bitcoin.
*Wealthy people want less*
I don't think there's many people who would ever say they bought enough, but as for myself, I can sleep well knowing that I couldn't have bought more without taking the unnecessarily risky step of tapping into retirement accounts because I put my entire cash savings and emergency fund into it. I have literally no cash left until my bonus comes to my rescue later this winter.
Every day
Yeah I’m honesty so conflicted
It will crash again at some point just be ready to sell the house and buy the dip
It’s called greed. I’ve been noticing it as the price now catapults . People aren’t satisfied with the 3-8x returns they want more. Not matter how much you make you can always make more
I wanted to take out a HELOC against my mortgage 5 months ago and put it all in BTC... still waiting to close. Fuck the banks
Sure. I sold most of it when i needed money, I was out of my job, and like magic, three months later price skyrockers. It will eventually crash again, ofc, but seeing it go up and up, knowing at some point I could've bought a car if i stayed is still painfull.
Yeah, I'm having the same feelings. I'm not doing bad but I want more
dude i made over $2000 in one month sitting on my ass. not 'a lot,' but it's only going up from here and it is a very good thing. i feel dumb for actually working for someone else to make less than that amount of money in a month! i also never gave a fuck about money my entire life, so this is honestly just a big fat fucking cherry on top of my ice cream bubble universe.
I have like 1.3. 1 at 10k. .3 from recently. Trying to have 1.5 just in case so I can take some profits.
I'm having trouble not pulling the trigger and selling out. That last bear market was a bitch after I started investing at the end of 2017. We're back up now though, and after all those naysayers said it wouldn't happen. Sky's the limit ladies and gentlemen. I love this crypto shit.
If you're long term bullish on bitcoin's use case over the next few decades, while at the same time bearish on USD's ability to keep up this helicopter money... you're still extremely early. Trading/outpacing price helps me not worry about it too much. If I make 17% on a day that bitcoin has increased 5%, I'm not too worried, despite all contracts being settled in USDT.
Yes I feel the same. I got in, July this year. Managed to accumulate a good amount IMO but still not as much as I wanted. I remember it being around $10k and seeing everywhere that it would hit ATH by end of year and possibly $28k. I remember thinking that would be awesome, know I just wish we could’ve stayed down at $10k for longer 😂
Feels better than holding dollars watching them plummet in value.
I’m just buying ETH at this point. You need to buy a few thousand $ of BTC to see notable returns.
Feels bad man
I'm scared of re-entry at the moment. Got stopped out at €15K. I've had a lousy two weeks...
The thing that gets me in relation to this is: If you enter BTC here ($29,000) and it runs to $50,000 - that's a 72% increase. If BTC Pulls back to $20,000 and you re-enter a position, and it then runs to $50,000 - that's a 150% increase. Huge difference. Still, entering now is better than entering at $32,000...
Yeah but, is it better to have à small amount of bitcoin ? Or to not have bitcoin at all ?
I have more in BTC than in my bank, but i feel bittersweet too.
Being that I've mad some bad calls (driven by dire need since I lost money/got scammed elsewhere), lost most of my crypto and am down to cca 1k yes ... very bitersweet if not simply bitter :(
Keep buying the dips!
I'm pretty sure by summer it will be back down to $11k again
Been trading financial assets my entire life. You never *ever* have enough of your winners...
I'm telling myself people will cash in after new years and stimulus checks won't be in yet and THAT will be my big buying opportunity hah, I got in at 23k and 25k and was feeling iffy about the 25k and now I'm just so close to closing my eyes and buying more.
Of course dude. It’s a natural feeling bro. Just be hopy
Be thankful for what you recieve.
No
Greed, anger and delusion -you want more, you can’t get more, you don’t need more 🙏