Topic: 15 years ago, attempts to sell $50 worth of Bitcoin which unthinkable now. - page 2. (Read 376 times)

During the first nine years (2009-2017) Bitcoin price increased from 0.001 to 10 000 USD (7 orders of magnitude) - it means ca 600& per year.
During the next seven years (2018-2024) Bitcoin price increased from 10 000 to 100 000 USD (1 order f magnitude) - it means ca 30% per year.

If you put one dollar into Bitcoin in 2009, it rises to 10 million dollars during nine years and the hodl strategy was great.
If you put one dollar into Bitcoin in 2017, it rises to 10 dollars during almost the same number of years and the hodl strategy was not bad but nothing extraordinary. (many stocks and real estate have increased much more than Bitcoin during 2018-2024).

This difference id so great that seems there are two different coins.

And what is especially interesting - the BTC profitability have not fallen gradually over years but sharply in the end of 2017. What happened in the end of 2017?

If only these individuals with the buying power and opportunity had a blink into the future of our today to have known that, it was a life changing offer in no distant time as I think, 15years isn’t a lot of time given how far Bitcoin have come in those years, such investor would have been granting interviews by now.

The funny truth is, we might be making the same exact mistake right now. By not having to buy at the price we have it in today, it might be a regrettable choice in 5 or 10years.

It is not yet too late if you have the means to buy some right now. We can't tell the future of this market but invest with what you think you can afford to lose because we'll never know the future. It just so happen that btc really increased its value throughout the years.

This was probably discussed sometime in 2020 when Bitcoin hit $68k and everyone was angry at the person but same Bitcoin went down to $15k years later, instead of buying the amount they can afford, they didn't and say it will die but today it's trading at $100k and everyone is yea, he messed up and he might be regretting later. This is how we are going to be here discussing the same topic in 30 years in the future when Bitcoin will be trading for $1m+

Everyday that we see Bitcoin cheaper, it presents a buy opportunity for everyone, the price can't stay like this forever. That person that auction the Bitcoin probably brought or mine it and needed the money. If today he knew Bitcoin will be this expensive, he will never sell a single one of the but probably there wasn't alternative for him which is why he auction everything, people definitely do things for reasons, we can't judge him because we don't know why he offer them at that amount.

I doubt if the owner sold that Bitcoin as he canceled the auction. Such volume of bitcoin is enough to make the holder a billionaire as far back as 3 years ago and if being patient to this time would likely be a trillionaire in dollars. Such holdings are indeed a life-changing opportunity only if the holder can see the future and be patient enough to appreciate the price value.

I had checked the account to ascertain how active but I noticed the account is not that active just once in a while which somehow shows that
there is every possibility he did not sell his Bitcoin and could be a millionaire or billionaire and is still always looking out for this great platform to see how things are going on here since it is likely the platform of his or her humble beginning.


 

I think this post teaches us a very important lesson. I know all of us probably have missed accumulating Bitcoins during its initial phase. So we all need to ensure that we do it now so that we don't regret about it after another 10-15 years. Because Bitcoin has every potential to break it's own record multiple times over a period of time.

So go ahead and start accumulating from today if not started already. This is going to become the driver of the world economy one day.

Will not know how the fate of people who used to buy bitcoin at low prices, there are still many people who lose their bitcoin due to their own negligence, for example, the private key is lost then the bitcoin cannot be accessed.

Only a few people can hold bitcoin until now, the rest are many who sell early when the bullish season arrives in the previous cycle.

They have enjoyed huge profits, but they will feel regret if they look at the past again.

You're right how can One compare the value of bitcoin as at the early stage when the  price is still very much affordable with now that the price of bitcoin has gone this far.  We don't have to blame anyone who sold his/her bitcoin back then, of course not everyone that is aware that bitcoin has a good potential in the future, if we keep blaming them for selling their bitcoin back then I think this will make them feel depressed why most people can also decide to overlook. Because most of those early investors that sold their bitcoin back then I'm pretty sure they sold it for a reason best known to them. It might be that it has gotten to thier target this is why they have decided to sell, is just a matter of choice.

Of course, they wouldn't, but how could they know what will happen in the future? Bitcoin was very new at that time, and no one could predict or even think that it was going to become this big someday in the future, so it wouldn't make any sense for people having so many Bitcoins back then not to try to sell them because they could use that money at that time and they could literally get way more than that by mining Bitcoin using a normal computer because it was possible since mining difficulty wasn't high at all at that time.

Now that Bitcoin has gone above $100k, and we have seen how it evolved over time, we can say that holding does pay off and we can have more value for our coins in the future, but that wasn't the case in the past because it was only a year or a couple old back then, so there was no hints or enough history for people to realize and understand its potential.

I remember selling around 0.5 BTC for about $1,600 or something in 2019. If I held that amount, I could get more than $50,000 right now, but I could use the money at that time, so had to sell.

Even if all of those who were lucky enough to own alot of bitcoin in the early days happen to have sold all their bitcoin at a givweaway prices, though it's and was a stupid thing to do, but we really can not blame them, and neither should they blame themselves, for just as you have said, no body can tell the future, and bitcoin being the very first of its kind, non of this people were able to decern what its future could be like, no one was able to tell if it will succeed like it has today, or if it will be a flop like several other internet money before it, I believe that  if all of this people knew how successful bitcoin would be today back then, non of them would have sold a single bitcoin, or they can only sell a few to sort out issues and continue to hold the rest even up until this moment.

It's the same thing today as well, alot of people today are selling bitcoin, and no one can tell what it's price will be in the coming 15 years from today.

The suggestion to tweak auction rules back then is interesting. It almost feels like bitcoin's early days were less about currency and more about testing human psychology and trust in something intangible. It's amazing how far that experiment has come

I don't think those who were hodling from that point in time didn't sell at least a portion of their investment (or even most of it) going to the 100k mark.
However, if they didn't - that's a crystal clear power of will and belief. Real hodlers to the bone.

The perspective granted here is immensely valuable.

In the past, very few people knew about the importance of Bitcoin, and those who did have become billionaires in the present day. Those who kept it in their wallets instead of selling it are now making incredible profits. The person who placed an order to sell $50 worth of Bitcoin and then canceled the sale has now become the owner of a billion dollars.

Bitcoin is the way to go.
If Bitcoin prevails, crypto will do so as well.
 

15 years ago only a few people understood bitcoin and at that time it was probably considered a useless coin... because over time until now it has become a fantastic value, it is quite crazy if someone is still holding it today.

If he still realizes maybe he will still have a long history in bitcoin.

Currently bitcoin is still around $100K if you look at the next 15 years maybe the price will be millions of dollars again, it's just that you can't compare bitcoin in early 2010 which was worthless until now it must be different.

There should be no regret for what already happened.
We need to think about the present, and the future too a bit.

For those OG's or early adopters with Bitcoin had sold off their coins on cheap prices does have that huge regret into the decisions that they had made out but we cant be able to totally blame them out since no one had trusted up Bitcoin into those early years on which even trusting to buy or bid up on $100 for 10k Bitcoin will really be that still give out that kind of doubt. Yes, we can say that it is really just that a waste since he didnt hold long enough but we cant totally blame them out because there's no such thing about guaranteed future. It is really just that we can say just because we are on such condition or situation where the price of Bitcoin had hit or reached up $100k. Imagine on how much he had made out if he had been able to hold for 15 years. Well, regret is always at the end and being diamond hands is never been easy even if you are really just that simply holding your coins. There's no assurance that you can be able to make money on lies ahead and we do always secure out profits as much as we could whenever we do see the opportunity. We do know that mining Bitcoin into those years or days arent that hard, this is why they arent thinking about holding and making instant profits as the money that they do able to obtain money for some assurance.

If we could turn back the hands of time I'm sure that many of us would've sold off everything we had to accumulate Bitcoin but it's impossible. We can't blame ourselves for missing out because Bitcoin hasn't gained significant reputation them and most of us didn't take it seriously. Most probably in the next two decades people who are not taking Bitcoin seriously now will look back and wish that they had stashed it. Who knows the price might be over $1m, and we would always have people that will miss out and always wish that they'd got in when price was approximately $100k.

Well 10,000 Bitcoin would never be auctioned at this stage, nor would offering
$25 for said amount even come into anyones minds.

That was a snapshot of those times.

There are a few ways to look at the OP's post:

The seller auctioning the 10,000 Bitcoin had his value and was hoping bids would
exceed $50 but was not prepared to make a modest loss.

The first bidder at $25 was just low balling but neither of them had even a 10+
year long term outlook because the seller would have HODL'd or the first bidder would
have started at $50.

Easy for us to comment with the luxury of $100,00 inthe pocket.