Are Early Adopters rich? - page 2. | Bitcointalksearch.org

nullama

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Quote from: Japinat on October 03, 2022, 10:33:40 AM

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Are early adopters rich? It's safe to say yes if they managed to held the coin much longer.

It's hard to say because the idea of holding Bitcoin was very different in the beginning.

Many wallets were lost because there were many issues with the early software, for example there was no seed phrase backup.

Also, many people sold their coin when it was a bit valuable.

But sure, if someone managed to mine early or simply buy later, and still has those coins, then yeah, they're absolutely rich right now. It's just not as obvious though.

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Quote from: rendravolt on October 03, 2022, 07:41:03 AM

Quote from: Lambent on October 03, 2022, 04:31:53 AM

I think it doesn’t matter if they’re rich or not. Look at their progress and how they’ve timed their trades. That will tell you more than you need to know. Discipline and a solid plan will teach you how to pull in profit, it won’t matter how ‘rich’ they are if they have to pay debt.

Apart from the facts that have been conveyed by the OP, of course everyone should be able to manage finances regardless of their early or late adoption. Even those who come in late adopters can even outperform the early adopters, again the intelligence needed to do it all.

Yes, I do agree with that line that late adopters can even outperform the early adopters. Doesn't mean that they can't be outranked in terms of bitcoin accumulated up until now just because they have knew the bitcoin much earlier. The market's volatility makes that possible, but to answer that OP's question.

Are early adopters rich? It's safe to say yes if they managed to held the coin much longer.

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Quote from: math09183 on August 01, 2022, 01:02:35 PM

I just wonder: are Early Adopters rich?
We know AA, author of "Mastering Bitcoin" was once attacked because he did not made any fortune having BTC from early years, then people donated some BTC and he collected around 100BTC.
Hal F's wife sued "I am Satoshi guy" and they were talking about $ 3-digit mln, so they are not kind of people who wait every month for their wage.
What about others? Bitcoin Core developers? Forum admins or well-known old users? Are they crazy rich living in their own castles or did they lost their coins, sold for $10 because of mortgage loan or student's debt and today they must work 7-15 every day?

I don't think that early adaptors are rich. Usually, the early adopters of bitcoin may already have sold their bitcoins at cheap prices and no one in 2013-2014 era could think that bitcoin could reach 60,000$ or beyond. They may have sold at only a few dollars profit and no one had a long term vision. And we are not to blame anyone as bitcoin in early times are only considered as a game money and nothing esle.

rendravolt

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Quote from: Lambent on October 03, 2022, 04:31:53 AM

I think it doesn’t matter if they’re rich or not. Look at their progress and how they’ve timed their trades. That will tell you more than you need to know. Discipline and a solid plan will teach you how to pull in profit, it won’t matter how ‘rich’ they are if they have to pay debt.

Apart from the facts that have been conveyed by the OP, of course everyone should be able to manage finances regardless of their early or late adoption. Even those who come in late adopters can even outperform the early adopters, again the intelligence needed to do it all.

BobK71

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There is a word first come first served. This is not appropriate everywhere, but I think it is appropriate in this regard. If the early adopters of Bitcoin can hold on to their assets then everyone is successful. But the reality is that few people were able to hold it. And everyone else sold it at a profit. More or less everyone was benefiting.

But don't forget that since Bitcoin is a trading tool it has volatility. Relatively good opportunities may arise as the bearish and bullish move between the two conditions. As per the current market it is near the lowest level as per several year chart. At the moment it is quite useful to buy Bitcoin.

Nhazwrath

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so. That depends on a stunning number of things.

First the philosophy of what is rich? , In the context of do i have enough food? do i have a car? do i have a house? do i have 10 houses?

more amusingly if the most recent prediction i saw saying that BTC will be 12,000,000 in 2031. that would make me worth a whopping 1.6 million But inflation will prob make me worth about the same => EL O EL

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I think it doesn’t matter if they’re rich or not. Look at their progress and how they’ve timed their trades. That will tell you more than you need to know. Discipline and a solid plan will teach you how to pull in profit, it won’t matter how ‘rich’ they are if they have to pay debt.

nullama

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Quote from: BobK71 on August 18, 2022, 11:47:24 PM

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Here some people became rich while many others failed to exploit the opportunity. We know someone bought a pizza with 10000 BTC. So they could not utilize that opportunity even though it was available to many at that time. Because they couldn't imagine that BTC could go to such a level.

That was laszlo, and he got those 10k bitcoins mining, so that pizza was basically for free. You were able to get 50 Bitcoins every few hours/days with a CPU back in the day. He also published the first GPU miner by the way.

And it's not like those were the only bitcoins he had. He continued to buy more pizzas with bitcoin after that initial one.

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Quote from: Jatiluhung on August 10, 2022, 02:24:05 AM

I'm also curious and want to know. but I have faith that today they are very rich people. but most of them do not like to flaunt their wealth and they prefer to enjoy life in a calm and pleasant way.

Here some people became rich while many others failed to exploit the opportunity. We know someone bought a pizza with 10000 BTC. So they could not utilize that opportunity even though it was available to many at that time. Because they couldn't imagine that BTC could go to such a level.

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Quote from: bitzizzix on August 18, 2022, 08:38:17 PM

If they hold it from the start never sell it I'm sure they will be very rich when they hit yesterday's high ATH but it all depends on how many bitcoins they have and there have also been investors selling on ATH before.
And what is clear is that anyone who buys bitcoin as early as possible and sells it at the highest price will definitely change his life or become rich but it all comes back to how much he has.
bitcoin is still running which will provide opportunities for those who want to be rich in the future, most importantly buy and keep buying before the bitcoin price rises further and hold for the long term with patience and strong consistency.

We don't have to be the earliest adopter like them, there is always a chance for us to become rich like them, as long as we focus on buying and holding bitcoin from now on, and collect as much as possible.

In the future, the opportunity to increase the price of bitcoin is still very much, so do not regret or regret that you did not have the opportunity or missed bitcoin in the past. Let's focus on the present, our opportunity is from now.

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Quote from: Jatiluhung on August 10, 2022, 02:24:05 AM

I'm also curious and want to know. but I have faith that today they are very rich people. but most of them do not like to flaunt their wealth and they prefer to enjoy life in a calm and pleasant way.

I totally agree with your review that early adopters of bitcoin already have sufficient wealth, but most of them will definitely never want to flaunt their wealth, they have definitely hidden their wealth, because they just want to enjoy their wealth, there are only a few people who flaunting their wealth like rich people who have become billionaires before, they show off their wealth to provide motivation to people who are not familiar with bitcoin and to people who are still hesitant to invest in bitcoin.

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If they hold it from the start never sell it I'm sure they will be very rich when they hit yesterday's high ATH but it all depends on how many bitcoins they have and there have also been investors selling on ATH before.
And what is clear is that anyone who buys bitcoin as early as possible and sells it at the highest price will definitely change his life or become rich but it all comes back to how much he has.
bitcoin is still running which will provide opportunities for those who want to be rich in the future, most importantly buy and keep buying before the bitcoin price rises further and hold for the long term with patience and strong consistency.

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Quote from: nullama on August 15, 2022, 08:00:57 PM

Bitcoin makes you free.

You're free from any financial intermediary.

You get to choose when and how you use your own money, 24/7, worldwide no questions asked.

There's nothing like that in the legacy financial system. You always require permission from a bank or someone else to use your fiat.

Bitcoin also shifts your mindset into more future focused instead of present focused: less debt, more savings.

Bitcoin's flexibility allows you to easily become rich if you pursue your dreams. I'd say we're still early adopters because Bitcoin hasn't reached the mainstream yet. 2017 and 2021 were Bitcoin's biggest years in terms of mainstream adoption, but there's still a lot of people who haven't heard about or used Bitcoin before. Subsequent block halving events should make Bitcoin more valuable in Fiat terms.

If you buy and "hodl" now, you'll be able to become rich when BTC goes all the way to the moon. How fast you will become wealthy, will depend on your spending habits. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

nullama

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Bitcoin is not to make one to be rich, bitcoin is just a digital currency that if it is invested it will yield more profits. Bitcoin is just the same as now , the only difference then was that it was cheap but it doesn't mean that everyone who bought then became rich, but early adopters benefited from the cheap price.

Bitcoin makes you free.

You're free from any financial intermediary.

You get to choose when and how you use your own money, 24/7, worldwide no questions asked.

There's nothing like that in the legacy financial system. You always require permission from a bank or someone else to use your fiat.

Bitcoin also shifts your mindset into more future focused instead of present focused: less debt, more savings.

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Quote from: hZti on August 11, 2022, 04:20:32 AM

Quote from: 8rch7 on August 11, 2022, 01:27:46 AM

I totally agree with your review, most of the early adopters of bitcoin must have become rich, but most of them will definitely hide their wealth, because they don't want the wealth they make from bitcoin to be known by others and even they will hide their wealth from the government, like my friend who is now a successful person and lives well but he never flaunts his wealth, even his appearance looks like a lower class person.

One point must also be that if you hold bitcoin so long that you became very rich, why should you sell it for fiat now. If you really believe bitcoin is the future than you will never be fiat rich and therefore only convert small amounts that you need for your normal live. We will see if this is the right way in a few decades.

When you believe in the growth, there is no need of thinking about selling it. Early adopters turned rich just because they were able to hold it long and believed in its potential. At present it isn't the same. People are trying to get into regular buying and selling so to increase the portfolio volume. As it isn't affordable for every level of people, through regular buying and selling it is possible to increase the volume we hold.

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Quote from: 8rch7 on August 11, 2022, 01:27:46 AM

I totally agree with your review, most of the early adopters of bitcoin must have become rich, but most of them will definitely hide their wealth, because they don't want the wealth they make from bitcoin to be known by others and even they will hide their wealth from the government, like my friend who is now a successful person and lives well but he never flaunts his wealth, even his appearance looks like a lower class person.

One point must also be that if you hold bitcoin so long that you became very rich, why should you sell it for fiat now. If you really believe bitcoin is the future than you will never be fiat rich and therefore only convert small amounts that you need for your normal live. We will see if this is the right way in a few decades.

8rch7

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Quote from: Jatiluhung on August 10, 2022, 02:24:05 AM

I'm also curious and want to know. but I have faith that today they are very rich people. but most of them do not like to flaunt their wealth and they prefer to enjoy life in a calm and pleasant way.

I totally agree with your review, most of the early adopters of bitcoin must have become rich, but most of them will definitely hide their wealth, because they don't want the wealth they make from bitcoin to be known by others and even they will hide their wealth from the government, like my friend who is now a successful person and lives well but he never flaunts his wealth, even his appearance looks like a lower class person.

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Quote from: tbterryboy on August 11, 2022, 01:00:26 AM

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To be honest, it's not really our business whether they got rich or not by being an early adopter, but if it makes you sleep in peace OP, I believe that all of them are rich but they don't want you or anyone to know it so they live by their means or they slowly stream in the wealth to gradually live a luxurious life. It's crazy to think that early adopters wouldn't make money because by logic, they should have a lot of crypto since it's the cheapest.

Not all, remember the pizza guy? That is just the most known one, there are a million people like that, including myself, I may have not been here when it was just a few dollars or even cents, but I have been here since it was under 100 dollars and I can tell you that I never got rich, I am still working very hard for my salary every single day.

I am not upset about it neither weirdly enough, because without crypto my life would have been terrible and I feel like it could still yet be terrible any day now and keep being scared about it. So I can easily say that we are not all rich, but we are still happy to meet bitcoin no matter what our current finances look like.

We should be satisfied because we are still luckier than many others, many people are still not exposed and know bitcoin. Moreover, opportunities still abound for us, I see that with the current situation, the crypto industry is still early and still has a lot of opportunities. As long as we focus now, try to accumulate as much as we can and hold in the next few years, we still have a chance to become as rich as early adopters.

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To be honest, it's not really our business whether they got rich or not by being an early adopter, but if it makes you sleep in peace OP, I believe that all of them are rich but they don't want you or anyone to know it so they live by their means or they slowly stream in the wealth to gradually live a luxurious life. It's crazy to think that early adopters wouldn't make money because by logic, they should have a lot of crypto since it's the cheapest.

Not all, remember the pizza guy? That is just the most known one, there are a million people like that, including myself, I may have not been here when it was just a few dollars or even cents, but I have been here since it was under 100 dollars and I can tell you that I never got rich, I am still working very hard for my salary every single day.

I am not upset about it neither weirdly enough, because without crypto my life would have been terrible and I feel like it could still yet be terrible any day now and keep being scared about it. So I can easily say that we are not all rich, but we are still happy to meet bitcoin no matter what our current finances look like.

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I'm also curious and want to know. but I have faith that today they are very rich people. but most of them do not like to flaunt their wealth and they prefer to enjoy life in a calm and pleasant way.

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