Can not believe 5 years ago you could of bought one whole bitcoin for this much! - page 17.

o_e_l_e_o

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Quote from: Searing on July 02, 2019, 06:54:25 PM

Would be nice if we had a run like that for the next 5 years.

$600 to $12,000 was a 20x increase, so the same again would take us to just shy of a quarter of a million per bitcoin. I think that's pretty unlikely, but I'd be hesitant to call it impossible given the crazy runs we've seen bitcoin can go on without warning.

Quote from: jseverson on July 02, 2019, 09:53:28 PM

Lol, one dude even bought $26 worth (5000 BTC!!!) for his thesis, forgot about them, and eventually came back finding that the value has exploded to buy an apartment with them

Although he had obviously already made a huge profit, he sold his bitcoin at under $200. Thankfully, the article says he was smart enough to only sell a fifth of his stack to buy the apartment, leaving him with 4,000 BTC and over $40 million at today's prices.

aad140386

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I think that many of those people who owned Bitcoins before could not even imagine that Bitcoin would cost more than $ 10,000 already in the next few. Such a success could be predicted by no more than 10% of bitcoin holders. I hope that this is only the beginning of the Bitcoin era and all the best is yet to come. In any case, the potential for growth is still very large. And it is quite possible that John McAfee will be right.

jseverson

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Lol, one dude even bought $26 worth (5000 BTC!!!) for his thesis, forgot about them, and eventually came back finding that the value has exploded to buy an apartment with them:

https://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home

I imagine life would be a lot different if I had been interested in the (really) early days.

FlightyPouch

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I still remember this time. I remember my first gambling site at that time, Freebitco.in where I usually see the price of bitcoin and it is so cool for me seeing the price increasing every single day I look at it, For some time, until the price of it crossed the amazing 4-digit price. Also because of that, I got greedy and lost some of the saved satoshis from the site. It is not that much but it is fun starting it with their faucet. Time flies so fast.

Searing

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Quote from: rdbase on July 02, 2019, 07:36:32 AM

For $651~ you could of got yourself a shiny whole bitcoin on coinbase plus their $6.66 fee.
I wouldnt of mind paying this fee on top regardless.
Even if they were asking 10% of the purchase amount at the time which is probably more by now. Wink

October 18th, 2013 fired up my KNC 550gh Jupiter BTC Miner. The price was (when I looked, unsure for the whole day) $150 USD per Bitcoin!

I think I made 'almost' I mean really, really close to 1 BTC a day!

Would be nice if we had a run like that for the next 5 years. Sure that much of an increase the next 5 years as the last 6 years it is I guess, re-reading above

and I would be 'quite' the wealthy 'horse's ass' (not that anyone would mention this if that was the case)

Just saying, would be wild

Brad

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Quote from: rdbase on July 02, 2019, 07:36:32 AM

For $651~ you could of got yourself a shiny whole bitcoin on coinbase plus their $6.66 fee.
I wouldnt of mind paying this fee on top regardless.

I was introduced to bitcoin in 2015 and at the time, the price of bitcoin is just above $200. You could only imagine what could I have done if I knew that the price of bitcoin will grow this much in such a short period of time. Anyway, that is all in the past now. All we can do now is learn from it and act to it accordingly. So right now, I am hoarding as much as I can and hoping 2017 bull run can happen again in the future.

o_e_l_e_o

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That date of purchase, 1st July 2014, was a local peak. Over the next 6 months, bitcoin would lose approximately 75% of its value, bottoming out at ~$170 in January 2015, and not raising back above $650 for 2 years.

Imagine the people who bought at that peak, and had to wait 2 years just to break even again. How many of them do you think panicked in those 2 years and cashed out? How many proclaimed the bubble "popped" and gave up on bitcoin? If they had held out, they would currently be sitting at on ~20x profits.

All the newbies panicking about buying at $13k a few days ago and already starting to sell at a loss could learn a valuable lesson here. What if in 5 years time your investment had gone up 20 times? Would you be angry at yourself for panicking and selling so soon?

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Quote from: abeecrypto on July 02, 2019, 05:07:45 PM

Wow! One would say ‘the good old days to buy’. As at 5 years ago I only heard about bitcoin but didn’t buy any. I wish I did. Some folks around me were so much interested in buying bitcoin but I was reluctant. But hey, i am in now

We are the same here but for me, I found out bitcoin and it becomes popular in our place way back on the year of 2017 which is at that time bitcoin was a pretty high price. I think the price of the bitcoin last year 2018 was like the price of bitcoin in the year of 2014 which is very cheap to buy bitcoin and even 1 bitcoin is affordable. Those old days never come back to bitcoin price at this current year and it is a great chance if you had bought at that time and until now you are still holding at that amount.

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Quote from: rdbase on July 02, 2019, 07:36:32 AM

For $651~ you could of got yourself a shiny whole bitcoin on coinbase plus their $6.66 fee.
I wouldnt of mind paying this fee on top regardless.
Even if they were asking 10% of the purchase amount at the time which is probably more by now. Wink

Who would have thought that a cryptocurrency would price as much as $20k in 2017. Since Bitcoin started, nobody cares about it or it's platform but now, it is a phenomenal currency which previously surpasses gold in terms of volume and price. The price that you showed may not be the cheapest of bitcoin, so how much more can you buy when you started buying since 2009?

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Quote from: jackg on July 02, 2019, 03:20:37 PM

What about 4 years ago when you could get it for $220?

I remember thinking it was overpriced then and was just going to remain stable or sink. Naive little me, I also had a coinbase account but wasn't able to KYC yet so I was stuck watching the price rally up...

If I'd have bought 10 btc and sold when I did in the spike in 2017, I'd have $140,000 now... But then again, I might have sold when we got up to $280...

yes youll never know the turn of events. even if you had bitcoin at that time, and you badly needed cash, are you going to wait for the increase that you dont have any idea when will it be or encash it at that moment?
id say, we can regret all the time we want but past is past, we cant change it. lets move forward and see for ourself how we can take advantage of the current situation.

abeecrypto

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Wow! One would say ‘the good old days to buy’. As at 5 years ago I only heard about bitcoin but didn’t buy any. I wish I did. Some folks around me were so much interested in buying bitcoin but I was reluctant. But hey, i am in now

gentlemand

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If it was that obvious it was the deal of the century the price would've been $100,000 in 2014.

I set a limit that I was willing to spend and reached it. In retrospect it wasn't the greatest time. A few months earlier in 2013 the same expenditure would've bought 20x more coins. If I'd waited until 2015 I could've bought plenty more too.

It's still of course fine but cost averaging would've been the way.

Coyster

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We can't really complain or think that we missed out on something great, even though we actually did, but the truth is that no one actually expected the bitcoin to reach the height it has attained right now, years back it sold for as little as nothing and luck and foresight made some believe and acquired a reasonable amount, which they will forever be grateful they did.

Subsequent years, more and more enthusiasts like myself have flooded in, and I cannot complain about absolutely anything, I wish I was there, but I'm glad I'm here, and i am in for good.

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What about 4 years ago when you could get it for $220?

I remember thinking it was overpriced then and was just going to remain stable or sink. Naive little me, I also had a coinbase account but wasn't able to KYC yet so I was stuck watching the price rally up...

If I'd have bought 10 btc and sold when I did in the spike in 2017, I'd have $140,000 now... But then again, I might have sold when we got up to $280...

shield132

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Quote from: BitHodler on July 02, 2019, 08:35:15 AM

I remember when I thought that accumulating between $300 and $500 back in 2015 was enough. Cheesy

I however don't blame myself for thinking like that back then, mainly because of how poor the fundamentals were. There wasn't much other than people thinking Bitcoin will do well, while today that's completely different.

Today is happening what back in 2015 people could only dream about. Keep accumulating whenever you can, even if it's just $10-$50 per week/month. Dollar cost averaging is a great way to buy into Bitcoin as non technical person.

Today we look at $600 thinking it's low, but the same will happen to current levels when we're 5 or so years away from now. It will suck thinking back about how much you could have had by now if you bought the current dip.

Yeah, it sucks that we had chance to buy bitcoin in very low price and keep it to get insane profits and we failed but I don't blame myself for that because no one would predict so high price, even 1000$ seemed almost impossible to reach 2 years ago.
Nowdays situation is changed, mining difficulty is increased, 600$ seems impossible in anyway because on that price mining just will stop. On another hand once we reach high prices, people's taste has been changes, they won't like low price cause they saw high ones.

Oilacris

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Quote from: BrewMaster on July 02, 2019, 12:21:32 PM

that's the thing with bitcoin and long term. because of its potential and usefulness it will continue rising like this. sometimes you just have to blink in order to miss the chances to buy it at a discount.
besides why are you going so far back as 5 years! why not just 5 months? the funny thing is that 5 months ago you could have bought 1 whole bitcoin with only about 1/4 the current price. in a couple of months from now the same thing will be repeated...

I cant blame people not to miss out on these kind of golden opportunities yet the future lies ahead is

uncertain which doubts cant really be avoided and they would eventually regret if the situation goes opposite on what they
had feared.Its just a matter of risk taking.

akram143

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Quote from: rdbase on July 02, 2019, 07:36:32 AM

For $651~ you could of got yourself a shiny whole bitcoin on coinbase plus their $6.66 fee.
I wouldnt of mind paying this fee on top regardless.
Even if they were asking 10% of the purchase amount at the time which is probably more by now. Wink

Just take two years more before then we could get one bitcoin for single or double digit numbers in fiat.

Thats it,if people still take time to understand then they have o buy bitcoin at 6 digit number. Cheesy

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It happens, going through the price chart of bitcoin from its early days into usage will give a clear indication of the growth that took place at regular time intervals. After years the new comers will mention the present market price to be low. Five years in cryptocurrency network is big, this can be understood from the users who continue to hold for a bigger price. Most of the long term holding people prefer at least a five year holding to be good to profit.

Theb

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And just by holding it at least 3 years from 2015 to 2017 your 651$ should have grown at least 2918% or 19,000$ during BTC's all time high in December 2017. You don't even have to be a knowledgeable trader back then just to have that kind of massive profit so long as you have hodled it from a good starting price. I can even say the same thing for people who have bought BTC during its worst time in the bear market, positioning here is really the key for people to have profit in the market.

BrewMaster

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that's the thing with bitcoin and long term. because of its potential and usefulness it will continue rising like this. sometimes you just have to blink in order to miss the chances to buy it at a discount.
besides why are you going so far back as 5 years! why not just 5 months? the funny thing is that 5 months ago you could have bought 1 whole bitcoin with only about 1/4 the current price. in a couple of months from now the same thing will be repeated...

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