Bitcoin whales took high risks, while studying price movement in the past

Accardo

hero member

Activity: 1078

Merit: 509

Leading Crypto Sports Betting & Casino Platform

Quote from: topbitcoin on July 07, 2023, 03:54:39 PM

Quote from: Lucius on July 07, 2023, 09:46:07 AM

Quote

Bitcoin whales took high risks, while studying price movement in the past

Don't be fooled by someone having the courage to risk $2 million like it was all they had, because such people were rich long before Bitcoin existed - so he only risked what he could have allowed himself to lose. The man in question has worked for Goldman Sachs for 25 years and obviously knew how to recognize the opportunity for a good profit, and such people do not fall under the influence of other people who might advise them that something is a bad investment.

This situation must be understood correctly so as not to misinterpret, because he is not a poor person from the village who then buys Bitcoin when he knows him, or a worker with a freelance salary that is only enough to buy food in one month, then they save and invest it into BTC Or selling the land then invested into Bitcoin over his courage, it is a wrong scenario in understanding the situation.
$ 2 million dollars in 2013 is not a little money, if converted to the dollars today the value must be greatly increased, especially the value of inflation needs to be added, I do not know that person, but I am sure that that person is not an ordinary person, and he is a rich person.
And yes, he must have spent money to buy Bitcoin without feeling afraid of losing his money.

In 2013 two million dollars is worth about 2.6million in 2023, that 2million dollars bought him 30,000 bitcoin worth 1950000000 USD in 2021; rate 65,000, remember 2013 recorded all time low in bitcoin price. If you look at the email you'll understand he knew it was an all time low yet he invested on bitcoin. He saw it as an opportunity to purchase and hold bitcoin, if it dropped half of what it used to sell in the previous year. That means he can take it as a great time to buy it very cheap, fully sure that the price will bounce back and hit another all time high. In today's experience, if bitcoin which sold for more than 65k per one dropped down to 20k, it's a great time to purchase bitcoin as it can hit that price and bypass it again.

Dr.Bitcoin_Strange

hero member

Activity: 532

Merit: 508

Leading Crypto Sports Betting & Casino Platform

Quote from: Accardo on July 07, 2023, 08:24:02 AM

Investing on bitcoin, doesn't require much third party validations, if they don't understand how it works, their response can destabilize your moves and ideas. Below is a CEO that purchased 30,000 bitcoin at the rate of 65$ approximately 2million dollars worth of bitcoin in 2013. I read his mail closely and understood, he didn't care about what his associates take on his decision, after doing his research he didn't hesitate about investing into bitcoin, he was sure that bitcoin will give him a good return. I've read many members complaining about being discouraged by closed friends or associates, it signifies that the person carried a low quality research on bitcoin. I don't know how the responses of his associates ended up, but he took the step with or without them. If you wish to be like them act like them.

Well, you may be right in your opinion, but I also think that that man who invested 1,950,000 on 30,000 may not really be 100% sure that he will make a profit; he definitely might have took that risk with some level of uncertainty. Also, before someone would want to invest such an amount of money, they would definitely have more than that. Anyway, it's just what I think. If he has about $20,000,000 or $10 million, then investing such an amount should not have been a big risk to him.
Yeah, you are right about not paying attention to some discouragement we get from friends or associates. It's always wise for someone to carry out their personal research before they can decide whether to agree with what someone is telling them or not.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

FrozenBit

full member

Activity: 657

Merit: 102

It reminds me of the story of each of us, when we are about 5 years old we aspire to be some great thing, but over time life gives us the answer that it does come true. like it or not, but the case with bitcoin right now are people who bought it early whether really many people can keep it until now and i know not many people can do that, investing now is also different from circumstances at that time. Putting a large amount of money into something that is not only trust but has their own assessment, and the risk in the case OP mentioned I suspect from the beginning they will also accept and face it, we all understand the fact that out of 100 people only a few are qualified to lead, like success comes to the few and the majority continue to achieve it.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: hugeblack on July 07, 2023, 10:23:42 AM

To simplify it for you, the price of Monero is 151.52EUR, so if you have 50,000 Euros, will you invest in Monero, After all the bad news about that CEXs have removed it and that the countries do not want it? This is exactly what was happening to Bitcoin in 2013, everyone thought it was a currency of the dark web and you had to do something illegal to buy it.

I would disagree that everyone had such an opinion in 2013 when it comes to Bitcoin, because let's remember that back then there was Mt.Gox based in Japan and that many even famous people traded Bitcoin, and it is known that Tim Draper lost as much as 40 000 BTC when that CEX get hacked.

The Silk Road case may have changed the minds of many at the time, but then, as today, most illegal activities are associated with fiat currencies, whether it is the US dollar, the euro or some other currency. What has definitely changed when it comes to the broad masses is the fact that after 2017 there was a realization that Bitcoin is not something that will just disappear, and that of course you can earn a lot of money if you invest in it.

bitLeap

sr. member

Activity: 1162

Merit: 476

Quote from: btc_angela on July 08, 2023, 05:44:07 AM

Quote from: PX-Z on July 07, 2023, 06:40:18 PM

If i knew bitcoin that time with enough money to spare i will probably do the same. But unfortunately, i'm still a student only online gaming and friends are my only hobbies so there's no way i will get introduced on such technology unless someone do it, but nah.

Yes, there are so many opportunities for us to buy before, that is if we have the money or even know bitcoin that time. But the good thing is that it's not too late for us. Sure, those early birds are might have been lucky as they can buy cheap bitcoin and then just wait for the right time to sell.

But still for us, we have been in the market, for me, I've been here since 2017, so it's not that far that I might even make money as well as I have been in 2 bull runs already. And as we grow mature here, the more we know that we will going to achieved something big in terms of financials.

When we look back, we will definitely have the same regrets, and will definitely think why at that time we did not do everything possible to buy more bitcoin, because surely we will be able to get something big from our sacrifice at that time. But bitcoin investment is not just like that, after all, even if we feel late, we are still experiencing tremendous benefits at this point.
We will also definitely think if we have to borrow a large amount at that time we will definitely do it and we will not care about being said to be crazy for buying bitcoin (by people who don't know).

But now I am very grateful for what I did, because there are not many people who realize the potential of bitcoin around me.

btc_angela

hero member

Activity: 2604

Merit: 542

Quote from: PX-Z on July 07, 2023, 06:40:18 PM

If i knew bitcoin that time with enough money to spare i will probably do the same. But unfortunately, i'm still a student only online gaming and friends are my only hobbies so there's no way i will get introduced on such technology unless someone do it, but nah.

Yes, there are so many opportunities for us to buy before, that is if we have the money or even know bitcoin that time. But the good thing is that it's not too late for us. Sure, those early birds are might have been lucky as they can buy cheap bitcoin and then just wait for the right time to sell.

But still for us, we have been in the market, for me, I've been here since 2017, so it's not that far that I might even make money as well as I have been in 2 bull runs already. And as we grow mature here, the more we know that we will going to achieved something big in terms of financials.

komisariatku

sr. member

Activity: 868

Merit: 456

Quote from: jrrsparkles on July 07, 2023, 04:27:04 PM

Obviously they took the chances as early as possible even that time they are ready to spend 2 million but even after 10 years the 2 million capital is highly a non achievable goal for most people which means they had more money than what they risked is the key, ofcourse they made money and turned millions in billions with the growth of Bitcoin over the decade. Rich people can afford to lose money while for an average it can be fatal that is the reason for the extra caution however without risk we can't turn around anything not just in crypto it applies to everything.

Yes you're right. We must be careful when investing. All investments carry risks, and crypto investments are high-risk investment instruments. For ordinary people who don't have much money, I think investing all their money in bitcoins is a very dangerous risk.

I also think that the person doesn't just invest in bitcoins, he should have other investments so that if bitcoins fail he still has other assets. But apparently bitcoin was so successful that what it did went down in history. I think a lot of people have invested in crypto, and a lot of people have failed. So, we still have to be careful in investing, dividing the investment into many sectors may be a good choice.

KiaKia

sr. member

Activity: 658

Merit: 384

Quote from: PX-Z on July 07, 2023, 06:40:18 PM

If i knew bitcoin that time with enough money to spare i will probably do the same. But unfortunately, i'm still a student only online gaming and friends are my only hobbies so there's no way i will get introduced on such technology unless someone do it, but nah.

If you have all the money at the time you might not feel the need to invest, what many don't get is that Bitcoin is very risky to invest in when it's value was very lower compared to today's value.

It's very easy to believe that Bitcoin could fail at the time because the adoption was slower and there are so much fear in the market back then, Bitcoin was easily compared to past Bubbles that have happened before, many expected the same to happen to Bitcoin.

This is why I always believe that the early Bitcoin investors, particularly the whales are the real OGs, it's like believing in something that shows no sign of surviving in the future, it's a tough decisions they all made.

Blitzboy

hero member

Activity: 1218

Merit: 556

Leading Crypto Sports Betting & Casino Platform

This could look irresponsible to people who lack the guts to take risks. And yet, is it really? Not according to me. The asset in question has continually demonstrated its value and resiliency over time.

Contrary to popular belief, success actually comes from defying the odds. Only those who are willing to reject conventional knowledge can actually profit from bitcoin since it is not a fad but a revolution. The conventional banking system has, lets face it, reached its limits in this day and age, and Bitcoin provides a viable substitute.

Its time to cut through the cynicism and doubters' clamour. Making independent judgements after careful investigation and taking the less-trodden path is not only wise, it gives you more power. The only regret you'll have is not becoming involved sooner. I say this to people who are on the sidelines, stifled by the fear of the unknown or influenced by misinformed friends and associates.

Nwada001

hero member

Activity: 574

Merit: 627

A lot of people had great opportunities back then when Bitcoin was really worth less, but most people used the opportunity wisely, while others ignored it because they never expected to see Bitcoin where it is today. Investing your funds in something is something one really needs to give a rethink, especially for those who are struggling to get it. Investment decisions are not always easy for them to make compared to how millionaires don't even give it a rethink before pushing in millions.

There were a lot of us here in the forum back then, and even if we were given the chance, most of us would not have been able to make the right decision because of the unforseen future. Especially for me, I could have given it a rethink over and over again before I could spare some funds to invest in something I don't really know much about. All thanks to the current exposure and the potential, we can now see clearly and hope those chances were never missed.

hatshepsut93

legendary

Activity: 2954

Merit: 2145

Quote from: Accardo on July 07, 2023, 08:24:02 AM

Investing on bitcoin, doesn't require much third party validations, if they don't understand how it works, their response can destabilize your moves and ideas.

This is true for all the decisions you are making in life. Others can dissuade you from making the right choices, because they give advises about something that they don't know well. But also people good be giving good advice, and you can be the one to chose to ignore it, thinking that you know better.

A wise person can make better decisions by knowing the limitations of their skills and knowledge, and knowing to whose advice to listen. But wisdom only comes with experience and analysis of past actions.

PX-Z

hero member

Activity: 1428

Merit: 836

Top Crypto Casino

If i knew bitcoin that time with enough money to spare i will probably do the same. But unfortunately, i'm still a student only online gaming and friends are my only hobbies so there's no way i will get introduced on such technology unless someone do it, but nah.

The Cryptovator

legendary

Activity: 2240

Merit: 2174

Need PR/CMC & CG? TG @The_Cryptovator

The email is truly captivating. Its contents are unfamiliar to me, and I find it remarkable that in 2013 they made the bold choice to invest such a significant amount. These individuals, being astute from the outset, recognized the immense potential of Bitcoin's future. This foresight is precisely what led them to attain whale status. It is crucial to bear in mind that when investing in Bitcoin, one should rely on their own judgment and not be unduly swayed by external influences.

panganib999

hero member

Activity: 1736

Merit: 589

There certainly was a margin of risk and a fuck ton of uncertainty back in the days, after all bitcoin at one point in its life cycle was dirt cheap with no hope of ever increasing in value. Back then when you tell the common crypto bro that bitcoin's going to reach $30,000 in value you might get punched in the face just for how ridiculous your statement is, nowadays we're even looking for $100000. No hate though, I'm just saying that way back then things were a little casual in the industry and not a single person here who's been with bitcoin since day 1 thought of holding bitcoin til kingdom come and it reaches stupid values. All they really had going for them is the hope that it reaches a dollar next year or so.

jrrsparkles

sr. member

Activity: 2380

Merit: 251

Eloncoin.org - Mars, here we come!

Obviously they took the chances as early as possible even that time they are ready to spend 2 million but even after 10 years the 2 million capital is highly a non achievable goal for most people which means they had more money than what they risked is the key, ofcourse they made money and turned millions in billions with the growth of Bitcoin over the decade. Rich people can afford to lose money while for an average it can be fatal that is the reason for the extra caution however without risk we can't turn around anything not just in crypto it applies to everything.

Yaunfitda

hero member

Activity: 2814

Merit: 574

Quote from: Accardo on July 07, 2023, 08:24:02 AM

Investing on bitcoin, doesn't require much third party validations, if they don't understand how it works, their response can destabilize your moves and ideas. Below is a CEO that purchased 30,000 bitcoin at the rate of 65$ approximately 2million dollars worth of bitcoin in 2013. I read his mail closely and understood, he didn't care about what his associates take on his decision, after doing his research he didn't hesitate about investing into bitcoin, he was sure that bitcoin will give him a good return. I've read many members complaining about being discouraged by closed friends or associates, it signifies that the person carried a low quality research on bitcoin. I don't know how the responses of his associates ended up, but he took the step with or without them. If you wish to be like them act like them.

Sure, maybe he understands bitcoin that early, or maybe he is risking, or seeing the potential of bitcoin in the future. That's why he advises everyone (but we don't know if they follow him or not).

But in this case, it really paid off for the CEO, and maybe that is also the reason why he become a CEO, because he thinks out of the box and then give good advise to someone. Me did believed in bitcoin back then, and for sure, he will continue to become one of the biggest whale up to now.

topbitcoin

hero member

Activity: 1582

Merit: 689

Leading Crypto Sports Betting & Casino Platform

Quote from: Lucius on July 07, 2023, 09:46:07 AM

Quote

Bitcoin whales took high risks, while studying price movement in the past

Don't be fooled by someone having the courage to risk $2 million like it was all they had, because such people were rich long before Bitcoin existed - so he only risked what he could have allowed himself to lose. The man in question has worked for Goldman Sachs for 25 years and obviously knew how to recognize the opportunity for a good profit, and such people do not fall under the influence of other people who might advise them that something is a bad investment.

This situation must be understood correctly so as not to misinterpret, because he is not a poor person from the village who then buys Bitcoin when he knows him, or a worker with a freelance salary that is only enough to buy food in one month, then they save and invest it into BTC Or selling the land then invested into Bitcoin over his courage, it is a wrong scenario in understanding the situation.
$ 2 million dollars in 2013 is not a little money, if converted to the dollars today the value must be greatly increased, especially the value of inflation needs to be added, I do not know that person, but I am sure that that person is not an ordinary person, and he is a rich person.
And yes, he must have spent money to buy Bitcoin without feeling afraid of losing his money.

usekevin

hero member

Activity: 2170

Merit: 553

Highly Trusted|Most efficient Manager| yahoo62278

The bitcoin doesn’t need any investigation to inverse as like other cryptocurrencies,Bitcoin is the base for all the crypto currency.So bitcoin will not get away from the market in a short period.The bitcoin price was vary at different dimensions,So ups and down.But the market still need huge demand for the bitcoin.Mostly the people who get knowledge from others will do check of this bitcoin as the first asset to inverse their money.Whales play huge role in the circulation of bitcoin in the market.

Wimex

full member

Activity: 618

Merit: 140

At that time everything was in full swing and many did not know it, it was something totally new and the risk could be said to be taken as of a higher range, it was not known if this asset would be as effective, so it meant walking the tightrope and trust that the other side would be reached, it was obvious that many would oppose and give advice so that they do not make this type of investment, but even so, the decision that several people made, without taking into account the negative comments, brought them a reward very big…….this for me, gave a quite influential reflection, where in order to be successful in this life, it is best to take your own risks and let things happen, either for better or for worse, because if you let yourself Influencing others would miss out on significant opportunities, like what perhaps happened to the CEO's colleagues. The situation with bitcoin may currently be in another scenario, but it continues to have strength and promises profitability.

Cryptomultiplier

full member

Activity: 770

Merit: 180

Eloncoin.org - Mars, here we come!

You know it's quite of importance to note that while making such kind of move, an alternative source of income is already certain.
That is, the C.E.O in your story must have had sufficient deposit of cash besides the already invested one in BTC.
Quite frankly I agree he is a visionaire and am sure his whale move yielded profit.

For other whales who have such huge investment of BTC and is being advised against selling by their friends, it is maybe they would have nothing to fall back on incase all doesn't go as planned. It could also be because they aren't knowledgeable enough to do so.

Topic: Bitcoin whales took high risks, while studying price movement in the past (Read 217 times)