Topic: Early BTC adopters still hodling? - page 2. (Read 1424 times)
I think the wealthy ones are still holding a lot of bitcoins. But I am also sure that they have cashed out and then bought more bitcoin and altcoins when this crash happened. If those guys are not holding up to this moment then the coinmarketcap should have been wiped out at the early months.
Early is subjective, today's buyers could be considered early in 10 years. I'm sure many are split and the holder persona is strong with many.
This is absolutely true. Adopters today would be termed as early adopters in 10 years time. But the trueth remains that most guys who mined or bought bitcoin in the early didn't have the patience to hodl till now and the reason isn't farfetched, they didn't see the future, they didn't know it would become this big. Some people were just playing around with it and it was nothing serious
Transaction confirmation time varies, it depends on the network congestion and the few you pay for it. Expect something like 10 minutes on the average day
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These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.
It's a strategy I believe works well. Most people just want to sell at the ATHs or as the popular meme goes: buy low and sell high - risky if you ask me.
1. How long did it take for a transaction to be confirmed?
Transactions before were so quick that it won't take 2 minutes IIRC and I was able to catch up those days that there's no fee when you send bitcoin. It is because there were few users unlike today.2. What were the other issues experienced apart from Hardware complications and energy requirements?
Can't say on this matter but before the earliest time, you can mine even with your laptop.So now many users, all crowded and high fee but good price. So what do you choose now? I think its difficult decision.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?
no idea mate. My friend was the tech guy, he traveled a lot so we set up the rig at my place and split the coins. it was more of a hobby and a lot of fun. I consider it a lucky fluke that the value went were it did.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?
Regarding btc I have kept about half of them, moved to paper wallets and kept in a safe place. We were done with mining btc before the price skyrocketed so yeah we still had most of our coins when it did. I did sell a few btc close to the ATH, for reinvesting purposes etc..In late 2012 We did give 20btc each to some friends and family and told them to hold until 2020 lol, I think only 1 of them has kept the coins until now.
As for litecoin, most coins were held until the introduction of segwit and many were sold at about 75% of the ATH.
These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.
Wow!! 20 Btc each! Everybody needs a friend like you. 
Yes, 2018 has been brutal but you've been holding so long now so another 2-3 years makes no difference right? 
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?
no idea mate. My friend was the tech guy, he traveled a lot so we set up the rig at my place and split the coins. it was more of a hobby and a lot of fun. I consider it a lucky fluke that the value went were it did.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?
Regarding btc I have kept about half of them, moved to paper wallets and kept in a safe place. We were done with mining btc before the price skyrocketed so yeah we still had most of our coins when it did. I did sell a few btc close to the ATH, for reinvesting purposes etc..In late 2012 We did give 20btc each to some friends and family and told them to hold until 2020 lol, I think only 1 of them has kept the coins until now.
As for litecoin, most coins were held until the introduction of segwit and many were sold at about 75% of the ATH.
These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.
I think these people were just having fun of their money and not having serious target on for the assets they had. Most of them were panic sellers and day traders who used to play buy and sell during those green days of btc. Good thing for those who are silent btc hodlers, still keep their btc grow even if it's not gaining that fast. Patience is their strategy and nothing else, because if they will follow the foot steps of those weak handed people nothing will happen and situations will become worst at all.
I guess the most of those who dabbled with Bitcoin in early times have already sold their bought/mined coins for about 2000$ in March of 2017 when the first pump came to the crypto-exchange markets. Now the huge piece of BTC is in the hands of those investors who want to manipulate the price of Bitcoin. Of course, some early BTC adopters still keep their private keys on the hard drives or USB-sticks in encrypted format but I think they are the minority of the Bitcoin owners.
I find it very weird how many people are convinced almost everyone who dabbled in Bitcoin in the early days lost it.
I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.
People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.
I think these people were just having fun of their money and not having serious target on for the assets they had. Most of them were panic sellers and day traders who used to play buy and sell during those green days of btc. Good thing for those who are silent btc hodlers, still keep their btc grow even if it's not gaining that fast. Patience is their strategy and nothing else, because if they will follow the foot steps of those weak handed people nothing will happen and situations will become worst at all. I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.
People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
I am very optimistic about seeing the right and correct answer to this question. I think it won't be something hard as confirmation time back then might take maybe minutes to confirm. I hope to know the perfect answer to this question
I find it very weird how many people are convinced almost everyone who dabbled in Bitcoin in the early days lost it.
I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.
People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.
I have totally irrelevant photos of someone else's garden from over a decade ago still perfectly safe in hard drives somewhere not to mention .txt files pertaining to that day's details that are long forgotten.
People seem to find it impossible to wrap their heads around someone holding for a few years. It's the easiest thing in the world. You sit there and do nothing. Other people seem to project the idea that if you continue holding steam starts to pour out of your eyes and your head eventually explodes.
I still need some help with the topic. Trying to see how much has changed, not just depending on statistical data alone but a lot more on real life experiences.
fFor what reason that you badly needed help just about this questions?i think this has nothing tp do with your trading or holding strategy
But for my experience since i have been here for year now,transaction is more fast ans cheap wayback not like what happen when the tome you posted this,but i am sure that if the lightning network done and released things will changed for good
I was doing a research and needed some more information about BTC mining since 2009. I'm still looking for more insider
I still need some help with the topic. Trying to see how much has changed, not just depending on statistical data alone but a lot more on real life experiences.
fFor what reason that you badly needed help just about this questions?i think this has nothing tp do with your trading or holding strategy
But for my experience since i have been here for year now,transaction is more fast ans cheap wayback not like what happen when the tome you posted this,but i am sure that if the lightning network done and released things will changed for good
It's a lot faster thanks to SegWit and SegWit2x coming soon, not to mention the Lightning Network. There have been spikes where a large number of people are sending Bitcoins at one time where transactions may be slow, but it doesn't seem like it will be a major problem over the coming years. Just keep holding because it will probably be used as a store of value rather than cash.
It is even faster if you take into account that some people are using the Lightning Network now and it was not around back then.
I was using Bitcoin before the whole spam attack thing happened with Bitcoin XT rivals and what not and the tx confirmation was not that big issue before that. 
Once rival forks came on the scene, butthurt coiners started to spam the Bitcoin network and everything went to shit. Now, with SegWit, these attacks became too expensive and they backed off.
The LN made these spam attacks virtually impossible, so scaling is not an issue anymore.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?
when i join in the 2015 i use bitcoin and send my bitcoin fast and not slow like now, the fee is very cheap, in a day i think i can send 4 - 5 transaction and i right now if i send 4 - 5 transaction i think i will get some deficit from my balance
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?
There have been spikes where a large number of people are sending Bitcoins at one time where transactions may be slow, but it doesn't seem like it will be a major problem over the coming years.
Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
1. How long did it take for a transaction to be confirmed?
2. What were the other issues experienced apart from Hardware complications and energy requirements?
Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.
Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.
I have a friend that bought bitcoin recently. He bought bitcoin around 6k. So I told him to just hodl it, if he see that the price suddenly increased 1k it is just normal. The best time to sell if it really happen is when you double your capital.
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