Can not believe 5 years ago you could of bought one whole bitcoin for this much! - page 13.

1Referee

legendary

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Quote from: gentlemand on July 09, 2019, 12:59:21 PM

Will there be a more mature class of user looking for steady ish appreciation or will they switch to the shittiest of shitcoins and leave Bitcoin to the more boring investment types?

I think that the first will be the more likely case. To a certain degree we see this play out already. Dumb money is invested in altcoins for the main part, while smart money parked most of its capital in Bitcoin. Institutions are building products around Bitcoin, not shitcoins. Wealthy individuals buy Bitcoin and not shitcoins.

Dumb money as we speak is desperately hoping for an altcoin season to see their bags pump, while the smart money can sit back and enjoy looking at how the only coin with a legitimate usecase is leaving the altcoins behind.

The main thing is that the more money you have, the more there is for you to lose, so from there it makes perfect sense to buy into the least risky asset in this space. Those with little capital and hopes of becoming rich try their luck by investing in the worst shitcoins hoping to 10-100x their money.

Thirdspace

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Quote from: Betwrong on July 09, 2019, 04:51:40 AM

When BTC is at $12k+ - "If Bitcoin drops to $8k, I would definitely buy one"

When BTC is below $8k - "I'll wait a bit, maybe it's going to be $6k, and then I'll buy"

When BTC is below $6k - "Experts are saying, it can drop below $3k this time. Why to buy at $6k?"

exactly what I said to myself since about a year ago
it also happened again when the price starts rising recently,
when there was price correction instead of buying I kept thinking it could go even lower
and made me lose the opportunity to get good bargain price Cheesy

considering now ~$12k

bkbirge

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At some point you'd think mass adoption would kill volatility which I would view as a good thing. So yeah I'd expect the type of investor at that point would be more of the blue chip and store of reserves mindset. I also expect we have many years to get to that point if ever, there will be lots of boom/bust cycles on the way probably.

gentlemand

legendary

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Welt Am Draht

Quote from: 1Referee on July 09, 2019, 12:06:06 PM

Perhaps I just miss the old times where we were speculating that one day Bitcoin would be worth more than $10,000.... Cry

If it does become that huge and remains that huge I'm curious to see what type of user arrives here. Do we get the less desperate and starry eyed or more of the same? The prospect of truly silly returns will be long gone by then unless you're willing to wait many years.

Will there be a more mature class of user looking for steady ish appreciation or will they switch to the shittiest of shitcoins and leave Bitcoin to the more boring investment types?

1Referee

legendary

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Quote from: Searing on July 08, 2019, 05:16:01 PM

I am having trouble right now watching the pump/fomo/hodl from 4/5/19 at $5,050 USD. To the present price at this moment of pumping to $12,340.20!

I'm afraid if any of the pundits that say they expect BTC to go to 20k/30k/50k are correct, my 'head' will explode from sheer confusion/joy!

I'm honestly not really impressed anymore by whatever Bitcoin is showing in terms of price gains. It was cool and exciting back in the days where we went from a few hundred to $10,000, but I got so used to it that it's not doing much for me anymore. I'm of course very happy with the price going up, enjoying the volatile price action in the recent months, but it has become normal.

The only moment I will start celebrating is when we go past the $100,000 level. Everything below that is just meh. It has gotten super easy for me to not be tempted to sell anything out of my cold wallets, not even a single satoshi. Full hodl mode over here.

Perhaps I just miss the old times where we were speculating that one day Bitcoin would be worth more than $10,000.... Cry

NathanJB

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The good old days. Well, these days are better ones. And the best ones have yet to come. I hope this picture will enlighten the doubtful Thomas out there. The rise of Bitcoin is not a joke. Although we cannot anymore turn back time and buy Bitcoins at $600 apiece, we can still buy today. Well, $12,000 is far more expensive than $600 but it is way cheaper than $100,000.

gentlemand

legendary

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Welt Am Draht

Quote from: Betwrong on July 09, 2019, 04:51:40 AM

The thing is that if BTC dropped to $650 these days, those who dream of this price right now would hardly start buying it. The logic of most people is as following.

EVERYONE is a trading hero with the benefit of hindsight. I'll guarantee you 99% of people here would be crying and puking, not buying with both hands. After all this time I'm still amazed at how rapidly sentiment turns on a dime. You'd think people would learn but they never do.

Betwrong

legendary

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I stand with Ukraine.

Quote from: enogheghase123 on July 09, 2019, 01:52:01 AM

I really wish i could turn back the hands of time to that era where i would have been able to buy 1 btc at this price, that would have been wonderful. Maybe I would have bought about 5 btc and by now i would have been a thousanaire in dollars. Can btc go back to that age again? Huh

The thing is that if BTC dropped to $650 these days, those who dream of this price right now would hardly start buying it. The logic of most people is as following.

When BTC is at $12k+ - "If Bitcoin drops to $8k, I would definitely buy one"

When BTC is below $8k - "I'll wait a bit, maybe it's going to be $6k, and then I'll buy"

When BTC is below $6k - "Experts are saying, it can drop below $3k this time. Why to buy at $6k?"

...

$650 per 1 BTC - "They were right, it's going to zero this time. I'm not going to just throw away my money. R.I.P., BTC"

As it was said above, people who buy during such times deserve respect for their courage and they surely deserve the profits they obtain later.

dat.ho12492

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Quote from: lienfaye on July 08, 2019, 09:09:58 AM

Thinking about the price of bitcoin few years ago its really cheap and I think anyone can afford it. But we all have now is regrets for not buying because we didnt know the price could increase such high and now we cant turn back time.

Its a lesson learned and now that we are aware of its history we should be more patient and dont look at the current price but instead look forward because there's more room for deveploment not just for btc but for crypto in general.

Indeed, a few years ago, the value of bitcoin was so cheap, a person's income in a month could buy a few bitcoin is normal but one thing people always regret is that they are not brave enough to invest when bitcoin at the time is unreliable and faced too many rumors. However, everything is as you say, it has happened and cannot be changed but at least the lesson we receive is very expensive and enough for us to remember forever, remember that sometimes life wants great success, we need to take risks, especially when we are young, mistakes are acceptable

STT

legendary

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Real economies move in cycles so it wont always be in this phase of rising. I would suggest next time BTC has some months of falling that people then store away spare not needed funds in BTC in the hope of a return back similar to now. Its quite possible for us to see both phases, winter and summer and neither is an end to the other.

enogheghase123

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I really wish i could turn back the hands of time to that era where i would have been able to buy 1 btc at this price, that would have been wonderful. Maybe I would have bought about 5 btc and by now i would have been a thousanaire in dollars. Can btc go back to that age again? Huh

Searing

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Clueless!

Five Years. Pashaw.

I am having trouble right now watching the pump/fomo/hodl from 4/5/19 at $5,050 USD. To the present price at this moment of pumping to $12,340.20!

I'm afraid if any of the pundits that say they expect BTC to go to 20k/30k/50k are correct, my 'head' will explode from sheer confusion/joy!

sheesh

Brad

unusualfacts30

hero member

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I know some people considered it expensive and thought it was going to come down from it. I knew that a time would come when that price would look extremely cheap. If you consider some of those "predictions" then your current price is still cheap compare to what it will be in the future.

lienfaye

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Thinking about the price of bitcoin few years ago its really cheap and I think anyone can afford it. But we all have now is regrets for not buying because we didnt know the price could increase such high and now we cant turn back time.

Its a lesson learned and now that we are aware of its history we should be more patient and dont look at the current price but instead look forward because there's more room for deveploment not just for btc but for crypto in general.

kr105

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Quote from: mobnepal on July 02, 2019, 07:46:08 AM

I can still remember selling one whole bitcoin on similar price @700$ but don't know the exact date, still I can remember the guy who was buying bitcoin for first time and can still remember the place where we made that cash on hand deal Grin

Haven't followed him or made any contact after that so don't know what he have done with that bitcoin.

Seems like this became a sad story for you Cheesy

I hope that guy somehow managed to hold that BTC until now, this would be a real success for him.
On the other hand this story shows that we have to focus on to think about what will happen after 5 years. Maybe after 5 years we will look back and just say “oh we could buy a whole Bitcoin just for $ 11k “.
Well, actually i feel really inspired now and will definitely hold my BTC for couple years more Grin

dmamigo

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Even I got the price $600, when I started. At that particular time, not only me, but many were skeptical to buy any cryptocurrencies at that particular moment.
Those who bought it is now quote rich enough.
But if we consider the fact that the price might go up high even more, the current price is also a good buy.
Just that many of us wont be able to buy a whole BTC with the current price.

guoyu78

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Quote from: Barbut on July 05, 2019, 06:57:38 AM

Many of us here have BTC before that price. And you know what, it was the time after a big drop when price touched $1,200 for the first time and started going down. Do you know how many people cried after that drop, and cursed BTC, how many topics about BTC going to zero? And what happened? People who waited long enough are rewarded, people who sold at that time regret now. This should be a reminder for all the people who still doubt in BTC!

Many people nowadays have used the experience of our heroes past to learn, I call them heroes past because it really takes a very courageous person to hold on to bitcoin then when it was just newly introduced, not like now that many people already understand bitcoin like they created it, so it is very much easier to overcome impatience now than those that started cryptocurrency with bitcoin.

If we were in their shoes too, many of us would do the same, but with all the understanding I have had about bitcoin, I have learnt to apply different strategies, because even till now, it is still not completely easy to have patience because of the volatility of the market. The strategy I just employ is to have permanent long term investment money that I can afford to lose in bitcoin, and another for short term trading.

BitHodler

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Quote from: RodeoX on July 07, 2019, 01:03:10 PM

At a lower valuation and with a lower supply spread out over the planet, it would have been very hard to make a big buy. Before the exchanges and OTC trading it was really chaotic and involved reaching out to miners in other countries. Miners who often wanted to remain anonymous and demanded using TOR, PGP, etc. You definitely had to apply yourself to get any bitcoin.

Thanks. I quite often see people post how they would have bought tens thousands of coins back then, totally not realizing that it was very hard to even impossible to do in some cases without the contacts.

Also, it's always hindsight talk-- back in the very early days Bitcoin was so experimental that people wouldn't put more in it than they were comfortable losing, so definitely not tens of thousands of dollars worth of it.

Not one average joe would put himself through all that hassle just to obtain a few coins of something that's so experimental. This makes me respect early birds even more.

RodeoX

legendary

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The revolution will be monetized!

Quote from: BitHodler on July 04, 2019, 03:26:08 PM

... I wonder though, how much liquidity was there available to you when you bought Bitcoin for less than a dollar? I'm inclined to say very little because of how there were way fewer coins mined at that point.

I have seen a few old videos where people were buying Bitcoin at ridiculously low prices and the sites only had like 100-200BTC in their reserves. In other words, buying 10k Bitcoin under a dollar a pop was very difficult.

That is a good point. At a lower valuation and with a lower supply spread out over the planet, it would have been very hard to make a big buy. Before the exchanges and OTC trading it was really chaotic and involved reaching out to miners in other countries. Miners who often wanted to remain anonymous and demanded using TOR, PGP, etc. You definitely had to apply yourself to get any bitcoin.

iMark

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Quote from: serjent05 on July 05, 2019, 04:13:02 PM

Quote from: darewaller on July 05, 2019, 03:38:26 PM

However, finance doesn't work like that, you can't look at what you have missed all the time because looking at the last 10 years, if you had gold you would have profit, if you had stocks many of them would profit you, if you traded on forex many would have profited you, there are so many things that would have profited you like crazy and you just can't get stuck on them, maybe not as much as bitcoin but they would have all made your life better.

You need to keep focusing on the future, you have seen what you could have done in the last 10 years, don't make it ruin your next 10 years.

100% agreed. If we keep regreting or reminiscing times and keep thinking "if only .. b", we won't be living in peace. Those things that we missed will only give us despair.

Agree, I think we live not to regret but to learn what we have got. we won't be able to go back to the past or expect prices to return to the $100 thats impossible thing, what we know is that prices will continue to rise and we have to take advantage of it so we don't get disappointed again

Topic: Can not believe 5 years ago you could of bought one whole bitcoin for this much! - page 13. (Read 9558 times)