Topic: How Early Is It Now, For Those Who Missed Bitcoin In Its Early Days? - page 2. (Read 792 times)

Nothing changes actually, people just keep ignoring opportunities and regret later.

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

As others have already mentioned, it's no use dwelling on the past. We don't know what the future holds for Bitcoin and cryptocurrencies. However, I honestly believe that the early days of Bitcoin are over. Before you jump to conclusions, my point is that you can no longer obtain a large amount of Bitcoin with, say, $200–300. Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

My point is that, compared to the earliest stages of Bitcoin, we don't have the same opportunities. $1000 back then could potentially make you a millionaire, providing that you held till the last few years. Now however, the same amount of money hardly makes you millionaire, no matter what.

Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Even back in 2013–2016, you could acquire a decent amount of Bitcoin for $200. Nowadays, with such an amount of money, you'd get a tiny portion of BTC. Even if the price multiplies by x10, you'd still have $2000.

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Do you know that since the invention of Bitcoin in 2009, the cryptocurrency space has produced more billionaires and millionaires than any other financial space/industry in the world ?

12 years ago, with a dollar($1), An investor can literally own a few thousands of Bitcoin, but today, an investor would have to spend at least, $20,000 to own one full bitcoin plus..(BTC1+)based on currently price that's a little above $19,000.

Knowing the above, I have this feeling that it scares small investors (that is those that can not afford up to 1 full bitcoin or even 0.5 bitcoin) from investing in bitcoin most especially, during bear market as we are currently experiencing.
Since one of the most reason why some people buy bitcoin is for monetary gains, they feel investing in bitcoin now can never make them the millionaire they dream to become, so they go for altcoins that are still very cheap instead thereby exposing their money to a higher risk for a higher gain kind of investment.

This thought is based on an experience I had with my brother yesterday, he is just joining the space, he has some money which he wished to invest in crypto, I adviced him to buy bitcoin for now, but after looking at the current price of bitcoin and comparing it to some other altcoins, and also that his money can only afford him about BTC0.07, he refused and said he would rather invest in an altcoin that it's  price is still below a dollar, according to him, he said that if he buys bitcoin at this current price, even if by 7 years from today, the price of bitcoin rises to $200,000 and above, it still will not give him the kind profit he wants, it won't make him a millionaire 🤣🤣🤣,

(please note that, I didn't bother calculating what 0.07 bitcoin would worth when 1 full bitcoin hits the price of $200,000)

 according to him again, he is ready to hold for at least 10 years, but he's not sure BTC0.07 would make him a millionaire in 10 years from now.
In the process, I gave the idea of making it a habit to save his monthly salary in bitcoin for atleast, 2 years while waiting for his target of 10 years, that by the end of that 2 years, his bitcoin balance won't be 0.07 any more, but a little close to BTC1 full bitcoin, and it's worth in dollars can even be much more if the price of bitcoin appreciate significantly in the course of the 2 years... He still refused, says he's not sure it will work out..

At the end of it all, I had no choice but to leave him to his choice, atleast, it saved me the stress I would go through trying to make him feel alright in the future if things later did not go as u envisioned for him.

So for all the newbie small investors out there that have this same mindset as my brother, what would you as an OG, advice them to do?
Remember, they wanna become a millionaire, but they think since they can not afford to buy up to 0.5 bitcoin atleast, then bitcoin can not give them that millions they so desire.... What would be your advice?

Let's discuss.

Just tell your brother that if he wants to be a millionaire, then he should always ready to take the risk and not afraid to buy bitcoin even at its higher price. Bitcoin may be costly, but when it comes to profit making, it will also give us the huge returns more than any coins can made. Suggest him to do DCA with bitcoin, if he can’t do that, I guess he’s not destined to become a millionaire when halving finally happens.

According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million dollars

I had the same problem when I first heard of Bitcoin. And I wasted 1.5 years mostly with worthless altcoins.
I was lucky and the period I've wasted matched a bear market. But will your brother be this lucky? I doubt it. 1.5 years is already after next halving.

So you better convince him to DCA instead of wasting his money in coins that now worth 1$ and in 2 years they'll worth less than 1 cent. He doesn't have to buy 1BTC, nor 0.07BTC. He can start with even 0.007BTC or less; let him start much smaller until he gets comfortable with all this. Just make sure he doesn't waste too much with various exchanges' withdrawal fees (since it can be very disappointing at small amounts).

It is always easy to look at the past and say 'IF'

- If I have known about Bitcoin in earlier years like 2009 or 2013, I would have invested in Bitcoin.
People said the same IFs in 2013, 2017 and 2020. Now when they are given a great chance to actually invest in Bitcoin at cheap price, they are still saying if about earlier years. But they unfortunately reject to take the chance in this year.

Later, in future, in 2024 or 2028, other people will say the same Ifs
- If I have known about Bitcoin in earlier years like 2022, I would have invested in Bitcoin.

Not literally I know them because they are anonymous but for sure there are a lot of early investors who make hold their Bitcoin for many years and become millionaires. But I think, they are already rich before risking their money in this new stuff which is not their worry to lose their money investing in Bitcoin earlier. I'm not sure if they foresee the future of Bitcoin but I see their trust and feeling towards the crypto market is strong to have that decision.

They deserve such huge achievement and market profit, and I remember these words " rich people become richer while poor people become poorer". They take this opportunity while others are rejected it.