Topic: Bitcoiners from 2012: What are you doing now? - page 2. (Read 2408 times)
i used the bitcoin this year and i am learning about it i want be a good bitcoiner
hodling forevah
Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.
So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)
Let's try some more realistic numbers:
- idealistic tech nerd in college or recent grad in low paid job with maybe $1000 spare cash, decides to blow a whole $200 on bitcoins
- 40 BTC
- gets excited by huge increases and sells 50% at $500 (or more likely, spends it at multiple points on the way up on videogames and computer hardware)
- $10K!! The most money that kid has ever had.
- (optional greedy idiot addendum: then loses most of it on altcoins trying to replicate the previous success, spends next few years hating all crypto and trolling bitcointalk)
Yeah, that's nice. But not quite yacht level monies.
The only people who are early retirement level rich are those who (A) got in in 2010 or earlier, and still had the great foresight to hold for years or (B) Were already in a position where they could risk many 10s of thousands.
And I think it's fairly obvious who these people are if you read Bitcoin related news. (Think: key developers who work on crypto projects without other sources of funding, guys like Roger Ver and others splashing money around on Bitcoin startups and bounties, and a few peripheral types who seem to do nothing but give interviews about Bitcoin)
From 2012? My guess is sailing around the world on a yacht right now
Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.
So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)
Let's try some more realistic numbers:
- idealistic tech nerd in college or recent grad in low paid job with maybe $1000 spare cash, decides to blow a whole $200 on bitcoins
- 40 BTC
- gets excited by huge increases and sells 50% at $500 (or more likely, spends it at multiple points on the way up on videogames and computer hardware)
- $10K!! The most money that kid has ever had.
- (optional greedy idiot addendum: then loses most of it on altcoins trying to replicate the previous success, spends next few years hating all crypto and trolling bitcointalk)
Yeah, that's nice. But not quite yacht level monies.
The only people who are early retirement level rich are those who (A) got in in 2010 or earlier, and still had the great foresight to hold for years or (B) Were already in a position where they could risk many 10s of thousands.
And I think it's fairly obvious who these people are if you read Bitcoin related news. (Think: key developers who work on crypto projects without other sources of funding, guys like Roger Ver and others splashing money around on Bitcoin startups and bounties, and a few peripheral types who seem to do nothing but give interviews about Bitcoin)
1m$ is definitely an understimate for a life of sailing the sea on a yatch. You would need a solid 10+ for that.
As for the people that got legit rich, they were extremely lucky, thats all. They bought tons of BTC for peanuts in 2009, and the ones that bought less (but still a decent amount) hold by accident because they forgot about BTC for 3 years and sold when they heard about it again on the news as the big pump happened. It's being at the right time doing the right thing. I wish we could all become rich with BTC at this point, but we would need BTC to take the lead as the #1 electronic payment method. For this, the blocksize problem is a big problem, and im not sure if Bitcoin will ever be able to achieve that technically, someone correct me if im wrong.
Did satoshi design Bitcoin in a way that it couldn't deal with tons of transactions per second, or it was a design flaw?
really TF? You say you're for bitcoin but we all remember what happened with inputs.io 
I wonder how many are still wanting their refund.
I wonder how many are still wanting their refund.
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
I'm holding as well (since 2013), but i don't know if bitcoin will survive the next halvings (probably it will on Q3 2016, but i'm not sure about the ~2021 one).
Shorting.
Cashed out needed cash and shorting.
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
Why you not sell your coins on the end of 2013???
I know bitcoin on the first of 2014 and I really miss the end of 2013
and now I'm holding my fews coins 
From 2012? My guess is sailing around the world on a yacht right now
Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.
So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)
And then you would have to buy again on the lows to keep being a HODLER.
And don't forget the taxes! 27% in Spain on capital gains.
Shorting.
hodling forevah
Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.
So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)
Let's try some more realistic numbers:
- idealistic tech nerd in college or recent grad in low paid job with maybe $1000 spare cash, decides to blow a whole $200 on bitcoins
- 40 BTC
- gets excited by huge increases and sells 50% at $500 (or more likely, spends it at multiple points on the way up on videogames and computer hardware)
- $10K!! The most money that kid has ever had.
- (optional greedy idiot addendum: then loses most of it on altcoins trying to replicate the previous success, spends next few years hating all crypto and trolling bitcointalk)
Yeah, that's nice. But not quite yacht level monies.
The only people who are early retirement level rich are those who (A) got in in 2010 or earlier, and still had the great foresight to hold for years or (B) Were already in a position where they could risk many 10s of thousands.
And I think it's fairly obvious who these people are if you read Bitcoin related news. (Think: key developers who work on crypto projects without other sources of funding, guys like Roger Ver and others splashing money around on Bitcoin startups and bounties, and a few peripheral types who seem to do nothing but give interviews about Bitcoin)
From 2012? My guess is sailing around the world on a yacht right now
Nah. Coins weren't *that* cheap, unless you were already wealthy. Assume "sailing around world on yacht" level of wealth is $1mil (perhaps an underestimate), assume you sold at $1000, and call the 2012 price $5. You would have still needed to have purchased 1000 BTC and spent $5000 on them.
So to have become a millionaire from Bitcoin, you would have to have:
- had several thousand $ of disposable income, and the willingness to throw it away on worthless magical internet money that all mainstream media and economists are mocking
- been lucky enough to sell exactly at the peak
- been willing to sell *all* your bitcoins at that point (ignoring greed to go higher or actual belief in Bitcoin as the currency of the future to HODL)
Let's try some more realistic numbers:
- idealistic tech nerd in college or recent grad in low paid job with maybe $1000 spare cash, decides to blow a whole $200 on bitcoins
- 40 BTC
- gets excited by huge increases and sells 50% at $500 (or more likely, spends it at multiple points on the way up on videogames and computer hardware)
- $10K!! The most money that kid has ever had.
- (optional greedy idiot addendum: then loses most of it on altcoins trying to replicate the previous success, spends next few years hating all crypto and trolling bitcointalk)
Yeah, that's nice. But not quite yacht level monies.
The only people who are early retirement level rich are those who (A) got in in 2010 or earlier, and still had the great foresight to hold for years or (B) Were already in a position where they could risk many 10s of thousands.
And I think it's fairly obvious who these people are if you read Bitcoin related news. (Think: key developers who work on crypto projects without other sources of funding, guys like Roger Ver and others splashing money around on Bitcoin startups and bounties, and a few peripheral types who seem to do nothing but give interviews about Bitcoin)
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
Im a 2013 user and I think you are doing the right thing. 1 year or 10 years, electronic payments will rule the world. Cash is going to disappear in our lifetimes with 100% of certainty.
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
Did you have a large stash back in 2012?
I only wish I was aware of bitcoin back in 2011/12, I'd be a very rich man now.
I've been buying for 18 months & hodling, haven't sold any but I didn't have the opportunites that you've had to sell at huge profits.
Did you not sell anything at the ATH mate?
I respect you for not selling large amounts when we reached over 1000 USD as you obviously believe we'll go to the moon but I also question your business sense at the same time.
Tell us a little more.....
It does not happen like that. No one knew the ATH before the fall started. Till that time everyone thought it was just a correction. Moreover, most of the people who tried to sell @ 1200 at Mt. Gox could not take out their money ultimately. When price shoots up, many things happen that u dont really expect at a lower price.
i'm not from 2012, but i think i'm gonna sink with this ship, i can't sell at this ridiculous price ever
The price is not ridiculous at all, yes it went all up to 1000+ but that was artificial. If that didn't happen bitcoin would sit around these levels with plenty of room to go down. I believe bitcoin will test the 160 again and even go lower than that. especially once the fork happens with people having the possibility to sell twice to double, so a big chance the price to just halve instead and some other who wouldn't know to which chain to go and rather stay in fiat to see which one fades away would there be miners in both chains.
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
Did you have a large stash back in 2012?
I only wish I was aware of bitcoin back in 2011/12, I'd be a very rich man now.
I've been buying for 18 months & hodling, haven't sold any but I didn't have the opportunites that you've had to sell at huge profits.
Did you not sell anything at the ATH mate?
I respect you for not selling large amounts when we reached over 1000 USD as you obviously believe we'll go to the moon but I also question your business sense at the same time.
Tell us a little more.....
Do you really think Bitcoin is going to drop when this takes place?
I'm still holding, even though the price just keeps going down. I believe in bitcoin -- I'm heavily against modern monetary theory.
So you are holding since 2012? Sorry but that's just greed, it went all up to 1200 my friend, thats like around 100k%.
I went in 2013, still holding and firmly believe this is the last year one s able to acquire a few dozen BTC. After the next block halving, only really large whales ll be able to get in. So, don't lose your faith.
I tend to believe the same. But, this recent Gavin vs GMaxwell duel does not seem well. I wish, Andreas mediated their ego problem and the fork does not take place.
I went in 2013, still holding and firmly believe this is the last year one s able to acquire a few dozen BTC. After the next block halving, only really large whales ll be able to get in. So, don't lose your faith.
cool to see another hodling thread.) well, I sold majority of bitcoins at ~900 and now still hodling...selling bitcoin at 230 is madness if you know enough..
i'm not from 2012, but i think i'm gonna sink with this ship, i can't sell at this ridiculous price ever
From 2012? My guess is sailing around the world on a yacht right now They may not have internet access until they get to port so it might take them a while to respond here.
They may not have internet access until they get to port so it might take them a while to respond here. Jump to: