Topic: If I had bought bitcoin 10 years ago, I would have been a millionaire: Not true - page 2. (Read 804 times)

You are correct. No human being would have had such patience to hodl onto bitcoin for so long back then without being forced to sell it when he or she has seen many gains in his or her portfolio. We human beings are always in a haste to make quick gains. We don't have patience because we always believe that investments made today can go bad tomorrow. It's better to withdraw all our investment, now there are profits, to avoid stories that touched the heart later that you didn't withdraw when there are profits.
Up till now, we keep selling our bitcoin for pennies. Forgetting that bitcoin might hit a million dollars in 10-15years time

That's true some Bitcoin holders don't have the patience to hold for a long time, but again we still have Steel hand-holders who bought Bitcoin at $50 and are still holding up till now not minding the price at any moment but waiting for the time set before selling. Some set a 20-year timeframe.

Buying bitcoin 10 years ago doesn't mean it's a reason to be rich, but it also requires a belief in bitcoin itself. Those who sell panic are those with low confidence.

Freekin' weak-ass limpy, this one.

It may probably be like this, we must also take into account that the price of BTC 10 years ago was a unique opportunity, at the moment the opportunity is still standing, many say that it can continue to fall more, but it is still a good opportunity to buy If we take into account that BTC is a store of value in 10 more years it will be something impossible to acquire, because if nothing else the S2F model gives for $ 100k then $ 288k, in 10 years how much could it be? And this is not impossible, it is very possible that it will happen.

I agree with you at some points.

There are many people who are regretting of not knowing it sooner. However, if they were to know it a little bit early, it still isn't guaranteed that they will trust bitcoin so much that they will hold everything they own until they can, most especially knowing that bitcoin has a little value before. Only a few people actually held all of their coins up until this date without selling even a portion of what they had initially invested in it. Because before, only a small population ever really believed in bitcoin's potential. I remember a story of a man who just used his bitcoins just to buy some pizza because who would have anticipated that a coin will have so much value in the future, right? Only a few and those few people are smart and lucky ones.

But still, those who managed to invest before bitcoin really peaked and boomed are still considered lucky even though they weren't able to buy it during the time it has little to no value yet. I suppose they still made a large profit and maybe some even became millionaires if they managed to hold until the ATH. It still isn't too late to invest after all. Just make sure to know when is the best time to enter the market and when to take profits. With the supply and demand of bitcoin, who knows how much it will cost in the future. Only time would tell and I hope those people who opt to trust bitcoin will harvest the fruit of their patience big time during that time. Right now, everyone has been given the chance to invest in it before it skyrockets again, the choice is still yours. DYOR.

You are contradicting yourself op which is why you need to improve your brainpower. It is obvious that some crypto investors who purchased and held BTC until it exploded in value in recent years became instant millionaires.

It's very, very difficult to HODL BTC for such a long period of time, but it isn't impossible. It's all about patience, trust and luck basically.

Not only would you have been tempted to sell, but you'd also be at risk of leaving the bitcoin on a centralized exchange that could go bust or of eventually losing the private keys. We hear stories on occasion of people trying to dig up their bitcoin from the local landfill. Millions of bitcoin were lost over the years, and bitcoin continues to become lost.

Even myself would definitely do the same whenever i do see some gains like that on which you wouldnt really know on what would be happening ahead and you would really thought that this is the peak price
which those impressions would really be that in common and people would really make out those early sell regrets but well we cant really turn back the time and lets just move on and
be wise on how to deal with this investment.I might be also a millionaire now if i havent sold off my bitcoins too back in the past but only on local currency
i do have.

I think whenever we buy bitcoin as long as we can manage and use it well then we will also get a big profit. so it depends on how we manage our bitcoin assets. but indeed, people who first bought bitcoins in the early of their emergence would have gotten a big profit if they could hold it until the bitcoin price jumped up at that time. especially if they used to buy a lot of bitcoin and now the price is skyrocketing. but whatever it is, each individual has their own way and we should not compare them with others. focus on what we want to achieve within ourselves and don't give up easily with the ups and downs of the crypto market.

I can relate to that. If we can make profits consistently, then we  can earn more than we can gain from 10 years of hodling. But i doubt if people will still be hodling for 10 years if in the first place they are already eager to make profits. Yes, we can be millionaires if we   have bought bitcoin 10 years ago and decide to sell it now, but it will be a long waiting game and a very hard game for us. I'm definitely one of those who can't hodl it for that long, but i don't regret selling my bitcoin earlier as i still never lose but did a great job and still gain good returns.

People will usually choose to sell their Bitcoin while earning x2, x3 profit rather than to hold 10 years without any assurance that it can be x10, x100. Of course, I'll do the same. In fact, if I can make a profit x2 or x3 in every bullish, I can probably make more than x10 less than 10 years.
10 years is too tough for me to hold, I can't assure that. Maybe this is suitable for rich people who don't mind their investment but for us who valued every pump, I don't think we are not get tempted to sell our Bitcoin. 

No time is too late to invest, you can still buy some coins now and probably hold for the next 10years who knows, maybe you'll make much more than your regrets.
But it's not always as easy as it is said, most times you buy and you're not able to patiently hold until it appreciates, at the end of the day, you'll still end up with regrets again.

Right, 99% of the people that would have invested in Bitcoin back 10 years ago would have sold before it even got to $1k, and those that were still trying to figure out how they saved their PKs/PWs would certainly be amongst the few that believed in trying out this new thing and keep holding for much longer. Those were the early stage of Bitcoin and lots of investors weren't 100% sure of what they were investing in.

This is why they say that trading and investing is all about keeping patience that all of us can’t keep. And those who have the patience to wait and see their money grow, often become profitable. I don’t think I would have been able to keep the bitcoin that I had bought 10 years ago because there was not much information about all this in the past, and chances are that I would have sold it on seeing its price fluctuate.

I think it can be true.

If you've been involved in Bitcoin since ten years ago, even if you sold some of it, you're probably going to have some non-trivial amount of bitcoin in different wallets that you've been using over the years. I don't think someone who was involved in it, keeping bitcoin in their own wallets, etc, would have sold everything and forgotten about it. Maybe someone that only bought once and kept it on an exchange, but not a true bitcoiner that has been playing around with the technology all these years.

When we bought BTC 10 years ago and we are still holding until now, exactly the amount must be multiple.
We can compare the price from 10 years ago and right now.
Btw, actually, there is some such kinds of investors of Bitcoin that use this kind of way of holding, long-term holders and they can take very big profits with BTC woned since several years ago.

But I agree if we bought in 10 years ago and we panic and also not patient, we will only regret of selling our Bitcoin some eyars ago when the price is not as high right now.

it is a great fortune if someone who bought bitcoin 10 years ago then forgot about it and thought back 10 years later and then sold it, but i think the lucky person is only 1%. it's not an easy matter to be able to hold back when they see the bitcoin they buy go up 2x or 10x, only those who really believe in bitcoin who definitely buy it ten years ago, store it and hold it until now.

You make a good point because most crypto investors are into it for profit but those that understand the benefit and the possible future movement of Bitcoin always choose to hold for the long term.
Mind you, Bitcoin was not popular when Erik Finman accepted it as payment and keep the bag. This is the reason why they said knowledge is power.

yes, this is what happened. in fact they will not be able to survive in a period of 10 years. when we think if 10 years ago invested in bitcoin and sell it now surely would be a millionaire. however, no one could survive, myself included. early 2020 I have bitcoin assets, but since there are profits I can no longer be patient to hold them.