Bitcoin Has Been Profitable for More Than 94% of its Existence

drachman

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Quote from: minersday on November 15, 2019, 07:53:26 PM

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Bitcoin Has Been Profitable for More Than 94% of its Existence

I don't really agree with you on this statement. It might have been 94% profitable for you but that does not mean it has been to everyone in the crypto space. A lot of people have made huge loses investing in Bitcoin considering the drop of its market value in the year 2018. You need to provide us with your statistics for this assumption of yours. Bitcoin might have a good profit margin considering its frequent change in its market price within a day or week but I don't really think it has been more profitable more than 94% of its existence. I disagree with you on this.

If you read the link posted by the OP you will see it is true, if we take the price bitcoin had today and we count the number of days in which the price of bitcoin was below it then we could get an idea of how many days bitcoin has been profitable, after all if you bought bitcoin in any day in which the price was below the current price then you will be in profits, so only those that bought when bitcoin was above 10k are suffering losses and this will probably not last long if a new bull market happens.

minersday

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Quote

Bitcoin Has Been Profitable for More Than 94% of its Existence

I don't really agree with you on this statement. It might have been 94% profitable for you but that does not mean it has been to everyone in the crypto space. A lot of people have made huge loses investing in Bitcoin considering the drop of its market value in the year 2018. You need to provide us with your statistics for this assumption of yours. Bitcoin might have a good profit margin considering its frequent change in its market price within a day or week but I don't really think it has been more profitable more than 94% of its existence. I disagree with you on this.

HammadAli

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Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

We have all heard the warning, ‘past performance is not a guarantee of future results.’ However, this warning is hard to ignore when an asset like Bitcoin has generated profits across more than 94% of its lifetime.

This is exactly the case with Bitcoin (BTC), a cryptocurrency that is a little more than a decade old with a history of shattering its previous all-time highest values.

Source link here

I still feel some regrets though. Way back in 2010, somebody mentioned to me about Bitcoin and must invest some. I replied like "What the hell is Bitcoin?". I ignored that for so long until years later, well......you know how I feel.

I also know some of you are having the same feeling too. However, I know that it's not yet too late. I was just lucky enough in holding some satoshis while it's still around $3k in January and sold it when it reached almost $13k during the sudden boom.

For me, this is way more better than investing in gold, federal reserve notes or treasury bond, but highly risky as well.

So you are judging a thing by what value market is giving it. Really? Come on.

hatshepsut93

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This is calculated by looking at the number of days Bitcoin had a value lower than its current value of around $9,200. Based on this, if an investor had purchased Bitcoin on over 94% of days throughout its trading history, and held until today, that investment would now be in a profit.

This simply tells us that in the past the price was lower than today's price most of the time. It's quite useless information, you can take any asset that is currently close or at ATH, like Apple or Facebook stock, and they too will have this "profitability" of over 90%. This observation alone can't be used to predict the future or draw some strong conclusions. If you want to make an educated guess about Bitcoin's price in long term, you should look at its fundamentals instead of historical charts.

piebeyb

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Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

I still feel some regrets though. Way back in 2010, somebody mentioned to me about Bitcoin and must invest some. I replied like "What the hell is Bitcoin?". I ignored that for so long until years later, well......you know how I feel.

it must be painful, right now I still keep bitcoin well, for 8 years I have saved bitcoin and have to move from one place to another until now, since 2017 the price of bitcoin has skyrocketed, I sold half of it and bought it back at $ 4000 at a time Then, I get more supply of bitcoin than before enjoying attractive price reflections this year, I don't want to miss the train so I keep it until now, because I know bitcoin has a good profit value in the next few years

drachman

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Quote from: Baofeng on November 07, 2019, 06:23:24 PM

I guess you're not the only one who regret's "dabbing" on bitcoin early. But we really don't think that bitcoin will go on like this, becoming one of the best speculative assets and turning to be profitable since its inception. However, we still have more time to accumulate BTC in our wallet and see how it goes in the next 10 years or so. You can also see the charts here:

https://en.bitcoinwiki.org/wiki/Bitcoin_history

Those that talk about the profitability of bitcoin most of the time use the past tense to describe it and it seems they think the best days of bitcoin are behind us but I I disagree the best days of bitcoin are ahead of us, I'm sure that in the next decades people are going to lament not buying bitcoin when they had the opportunity to do it for less than 10000, and while many investors think that is an expensive price I'm sure that in a few decades that price is going to seem like a bargain.

maxreish

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You are very fortunate that you sold your btc at $13k, some may believe that the previous history will repeat itself. Some graphs are saying it, too. But that is not the reason why we should trust the history itself. The results will always be unpredicted.

I was also bought btc at $3k last year and I sold it when the price goes up twice the price. Regrets are there but it is better than to be deficit.

crypto_fan_boy

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Well telling this to a person who lost a fortune in cryptocurrencies cause of the bubble burst in 2017/2018, but it really is amazing how much diversification can help, tho it took a big time to recover but I am still trading and happy as I've never been before.

sapnu

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Quote from: Memminger on November 09, 2019, 06:17:44 AM

Quote from: joinfree on November 07, 2019, 02:32:22 PM

Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

I still feel some regrets though. Way back in 2010, somebody mentioned to me about Bitcoin and must invest some. I replied like "What the hell is Bitcoin?". I ignored that for so long until years later, well......you know how I feel.

I share your feelings mate..i was introduced to bitcoin in late 2010 and i was like i don't really believe that this technology can stand the test of time. It felt to me like some of those flash in the pan activities. It was until 2017 that i heard so much rumours about it that i decided to make enough research about it again. At least i am glad i am now part of it even before the global adoption of Bitcoin.

How I wish I had known Bitcoin at that time since I am a kind of person to take any opportunity especially in earning as long as it doesn't require me to pay or invest some cash. I would gladly pour my time and effort. Especially this kind of things which interest me and I'm willing to learn new things. But I'm too young at that time to be introduced to Bitcoin. I knew Bitcoin at my last year in my high school life which I am very grateful to my friend who come to tell me what this is about and how to get into the game.

It is indeed profitable and I can say that because I am earning here since 2017. I thought was not that enough to make my own money but it seems I am wrong at that because, without bitcoin, I have nothing with the things I bought because of it right now, just like my gaming pc and my own gadgets also some other good stuff. I can say that bitcoin is really profitable in many ways. There are actually lots of ways for you to earn here. Just choose one of them that is really good for you and something that you have prior knowledge even a little one.

yulionoo

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yes bitcoin has provided huge benefits for people who owned bitcoin before 2017. and bitcoin has also managed to score new wealthy people. I think bitcoin is the best investment tool of the century. and I think now it's not too late to join bitcoin investments. because next year bitcoin will halve and many predict the price will increase. so I think now is the right time to buy bitcoin. so that in the future we can benefit.

auntyjmary

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Bitcoin is still young but it seems the success story far outweighs the age of this amazing cryptocurrency. Recently, I read an article that proves that anyone who bought the same amount of bitcoin in each week in any year since bitcoin's introduction would still make profit on his/her holdings. From all statistics available, it shows clearly that bitcoin is the best digital currency ever to be developed.

henmark

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Just don’t remind me of the past again, because this is the lifetime opportunity that I have missed and don’t think that I can get back again, no matter what anyone tells me, if I had invested in bitcoin too during that time, I would have become financially free forever because the cost of buying bitcoin then can really not be compared to the cost of buying it now, what you will use to buy 2 bitcoin now, is what you would have used to buy thousands of bitcoin then, but anyway, the past is gone already and I think we should just focus on the future opportunity already, it is also because of this regrets that many people think altcoin could give them the same result until they are being affected by scammers that has taken over the market and promising to give them what bitcoin would have given them in 2010.

ebykamsiokoro

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I can definitely relate to this. But on the other hand, have you ever wondered what's become of those that bought Bitcoin at 17kusd to 18kusd couple of years back, when Bitcoin was at it's all time high? I know someone who's yet to recover from that Investment gone sour. On the other hand, it's been a pretty great run for some people.

Xcode7

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Quote from: Asmonist on November 11, 2019, 06:18:29 PM

I agree. Its really evident from how it started until now. The price is really promising and we can really rely onto it because it existed this long. We are all wise investors so definitely we all diversify our investments. We couldn't ignore to invest in bitcoin because its the trend now. We are going into digital world. Its better to have a little of it and grow in the future than have nothing of it.

bitcoin so far has provided many benefits for people who are wise in investing. the development of prices from the beginning until now can be said to be fantastic, so I personally believe that bitcoin will continue to grow with its technology

dimastegar

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Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

I still feel some regrets though. Way back in 2010, somebody mentioned to me about Bitcoin and must invest some. I replied like "What the hell is Bitcoin?". I ignored that for so long until years later, well......you know how I feel.

Just like you, I started research on Bitcoin in 2014. At that time I tried to learn and immediately created an exhanger account lol. I remember the price of BTC was still around $ 300. But I did not buy a dime. after studying for some time, I stopped exploring Bitcoin because there was something else I had to deal with for a long time.

Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

I also know some of you are having the same feeling too. However, I know that it's not yet too late. I was just lucky enough in holding some satoshis while it's still around $3k in January and sold it when it reached almost $13k during the sudden boom.
For me, this is way more better than investing in gold, federal reserve notes or treasury bond, but highly risky as well.

In early 2017, I just started resuming Bitcoin research and at that time I was shocked by the many new types of coins that appeared on the market in just over two years. Of course, I do not want to miss and leave some of my time to trade crypto. And I was lucky when I was able to make a profit when BTC got new ATH at the end of 2017.

Asmonist

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I agree. Its really evident from how it started until now. The price is really promising and we can really rely onto it because it existed this long. We are all wise investors so definitely we all diversify our investments. We couldn't ignore to invest in bitcoin because its the trend now. We are going into digital world. Its better to have a little of it and grow in the future than have nothing of it.

jets567

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Quote from: cheezcarls on November 07, 2019, 01:55:45 PM

I still feel some regrets though. Way back in 2010, somebody mentioned to me about Bitcoin and must invest some. I replied like "What the hell is Bitcoin?". I ignored that for so long until years later, well......you know how I feel.

You're not alone and I think most of us here feel the same, as for me I keep hearing about Bitcoin since 2010 too from item seller's of the online games I played before and since I don't know about it so I totally ignore that kind of payment until 2013 when I found this forum while digging some information about Bitcoin because a lot of my game buddies encourage me to use it for buying anything online and that's how my journey started in crypto-space. I must say that during the past years, Bitcoin provides me a very convenient way payment as well as some profits while holding it so its a really win-win situation for having Bitcoin.

JC btc

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Quote from: Vishnu.Reang on November 09, 2019, 06:46:32 AM

Quote from: Memminger on November 09, 2019, 06:17:44 AM

How I wish I had known Bitcoin at that time since I am a kind of person to take any opportunity especially in earning as long as it doesn't require me to pay or invest some cash. I would gladly pour my time and effort. Especially this kind of things which interest me and I'm willing to learn new things. But I'm too young at that time to be introduced to Bitcoin. I knew Bitcoin at my last year in my high school life which I am very grateful to my friend who come to tell me what this is about and how to get into the game.

Don't forget the fact that we are still in a phase of early adoption. There are only a few tens of millions of active Bitcoin users in this world, and that represents less than 1% of the world's population. All we need is to hold on to our coins and wait patiently. At some point in the future, Bitcoin will be used by the majority of the world's population, and we'll be able to cashout our coins at good prices.

Indeed, this what I am telling to my friends too who just realized the value and goodness of Bitcoin but they didn't take the chance to check it when I told them about this way back 2017, well lesson learned that before we say "NO'', let's study and investigate it first, as it might be the one that will change our life, I doubted crypto too, but, I still managed to check it since my friend told me that it's up to me to invest or not, he won't force me.

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Quote from: Dabs on November 09, 2019, 11:34:46 PM

There was another study, sort of, that implied anyone who has held Bitcoin bought at almost any point in time, and held it for longer than 3 or 4 years, has been profitable.

This is sort of like holding a broad range index fund like the S&P 500 for longer than 7 or 8 years. If you held it that long, no matter when you bought it, you'd be profitable.

History means nothing in this case. It's like saying that buying real estate in the Lower Manhattan was very profitable in the 70s, 80s and 90s, so why not not invest and buy some office space in WTC in y2k? It had to look like a pretty good investment for most people back then.
I made a lot of profit holding BTC since 2014 but its progress can slow down or even backtrack for a bit. You should own at least 1 BTC so that you won't miss out on this but you shouldn't base it all on its past performance.

Dabs

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There was another study, sort of, that implied anyone who has held Bitcoin bought at almost any point in time, and held it for longer than 3 or 4 years, has been profitable.

This is sort of like holding a broad range index fund like the S&P 500 for longer than 7 or 8 years. If you held it that long, no matter when you bought it, you'd be profitable.

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