I've certainly been lucky to see 300% ROI. I will be even luckier to see 3000% ROI.
In order to displace bitcoin any successor will have to grow to be larger than bitcoin. Good luck with that. It will take years. Not 5 years perhaps, but years. And we will all see it coming. Right now, there's nothing on the horizon that has the necessary order of magnitude improvement in overall value proposition.
In fact, any sensible project would build on top of the blockchain, to bootstrap. 99.99% chance of failure otherwise. Better to give yourself a 100x better chance of success by working with bitcoin instead of against it. Then you only have a 99% chance of failure. Consequently, any "successor" will only increase the value of bitcoin.
I do not plan to take financial advice from someone who sells at the bottom.
Topic: If someone buys Bitcoin today, they'll be lucky to see a 300%+ ROI. - page 4. (Read 17741 times)
March 04, 2014, 03:45:30 AM
March 04, 2014, 02:53:24 AM
God dammit! 
Where you that guy with the 2k+ sellwall at $402?
March 04, 2014, 02:48:25 AM
March 03, 2014, 11:20:07 PM
Sorry for your timings.
One of the first lessons I picked up here is - always keep some skin in the game.
One of the first lessons I picked up here is - always keep some skin in the game.
March 03, 2014, 11:14:45 PM
God dammit!
March 03, 2014, 11:10:04 PM
I've been here since 2011 also. I have to admit, I think you're (OP) suffering from bear market syndrome.
There seems to be a lot of that in the last 3 months.
How soon we forget.
Hey it is a good thing as is spreads bitcoin over a wider group.
March 03, 2014, 09:49:42 PM
I've been here since 2011 also. I have to admit, I think you're (OP) suffering from bear market syndrome.
There seems to be a lot of that in the last 3 months.
How soon we forget.
March 03, 2014, 08:51:49 PM
JUst 300% wow that sucks.... 
March 03, 2014, 08:47:09 PM
I've been here since 2011 also. I have to admit, I think you're (OP) suffering from bear market syndrome.
Given where the world is going, I would not be surprised if we hit $1,000 coin again. Having said that, bitcoin will continue to be highly volatile, so we could well go down to $100 in the meantime.
RE: Ripple / Ethereum - these new coins may or may not be better than bitcoin, but bitcoin was the 1st crypto-coin and it will always have that 'first mover advantage' as a crypto-currency, as being the most heard of and used crypto-currency. Besides, the innovations offered by all the alt-coins, ripple and ethereum are not (yet) really substantial enough to cause people to drop bitcoin and move to something else. The innovation that satoshi created (bitcoins vs. paper money) is head and shoulders above anything added by any alt-coin. Ethereum in particular has a long way to do. Ripple I am not so sure of and have not investigated fully (particularly as the source code was not available for a long time). However, the kind of scenario that would see bitcoin go alot higher would also drive the prices of all alt-coins higher. Even if bitcoin is superseded in the long term, it will not happen overnight and there is still profit potential remaining in holding bitcoin.
I have to admit that it is a little crazy to sell every coin. However, I have been in and out of BTC over the last few years (would have been better just to hold of course) ... so I know your feelings and motivations.
The market is always open however. The thing that worries me the most is if bank accounts are locked down (like is happening in Ukraine these past few days) it would become very difficult to get money to exchanges.
Perhaps I am naive but I still think the best days of bitcoin are ahead. Although I agree with you that I don't think crazy 3,000% returns are possible, I still think it's feasible that bitcoin could go into the thousands of dollars again. That, and the possibility/probability that FIAT money may evaporate or be confiscated, keeps me invested in bitcoin.
However, if you're worried about bitcoin and would rather have something more historically stable, you can always buy gold instead. In the event of economic problems, bitcoin, gold and alt-coins will retain value together.
Given where the world is going, I would not be surprised if we hit $1,000 coin again. Having said that, bitcoin will continue to be highly volatile, so we could well go down to $100 in the meantime.
RE: Ripple / Ethereum - these new coins may or may not be better than bitcoin, but bitcoin was the 1st crypto-coin and it will always have that 'first mover advantage' as a crypto-currency, as being the most heard of and used crypto-currency. Besides, the innovations offered by all the alt-coins, ripple and ethereum are not (yet) really substantial enough to cause people to drop bitcoin and move to something else. The innovation that satoshi created (bitcoins vs. paper money) is head and shoulders above anything added by any alt-coin. Ethereum in particular has a long way to do. Ripple I am not so sure of and have not investigated fully (particularly as the source code was not available for a long time). However, the kind of scenario that would see bitcoin go alot higher would also drive the prices of all alt-coins higher. Even if bitcoin is superseded in the long term, it will not happen overnight and there is still profit potential remaining in holding bitcoin.
I have to admit that it is a little crazy to sell every coin. However, I have been in and out of BTC over the last few years (would have been better just to hold of course) ... so I know your feelings and motivations.
The market is always open however. The thing that worries me the most is if bank accounts are locked down (like is happening in Ukraine these past few days) it would become very difficult to get money to exchanges.
Perhaps I am naive but I still think the best days of bitcoin are ahead. Although I agree with you that I don't think crazy 3,000% returns are possible, I still think it's feasible that bitcoin could go into the thousands of dollars again. That, and the possibility/probability that FIAT money may evaporate or be confiscated, keeps me invested in bitcoin.
However, if you're worried about bitcoin and would rather have something more historically stable, you can always buy gold instead. In the event of economic problems, bitcoin, gold and alt-coins will retain value together.
March 03, 2014, 08:15:39 PM
The top was not obvious until it was passed. I was hoping to see a return to the $800 level before I sold the remainder, but the Mt.Gox fiasco has motivated me to sell earlier.
Mt.Gox fiasco started when you had to wait months for your money. Fortunatelly I stopped using Mt.Gox.
The Bitcoin v2.0 part was funny indeed
March 03, 2014, 07:51:05 PM
For the record, I just sold all of my Bitcoins.
I like posts like these... they are usually get posted right at the start of the next of rally
give it 2-3 years, and it will be an excellent read.
on the other hand: exit strategy is a hard one to accomplish. all those years of tension. it sure is great to be part of it. but as price rises all of a sudden some are multiple $ millionaires. the game changes. become independent for the rest of our life or risk it all on a virtual thing still in beta? once you reached that it must be a great feeling to step out of crazy ccmf ride to da moon in some way.
at what price would you get tempted ? $ 10k, 30 k ?
Exit strategy for bitcoin: What exit?
March 03, 2014, 06:52:42 PM
I thought the experiment ended mid 2013?
I thought it was autumn 2011.
March 03, 2014, 06:45:04 PM
For the record, I just sold all of my Bitcoins. I bought my first Bitcoins in June 2011 at around $28 and continued buying all the way down to $2. I actually bought about 8000 BTC around the time I made this post: http://www.thebitcointrader.com/2011/10/im-calling-bottom.html.
Needless to say, my return on investment was massive. We're talking 25,000% plus. For someone to see that kind of ROI today, Bitcoin would have to hit $125,000 each, or a market cap of $2.6 trillion on 21 million coins. Which brings me to my first point:
There's significantly less incentive for someone to speculate on Bitcoin today.
Yes. Buying at 2$ after a long run from 30$ is not risky at all. When you are saying you bought 8000btc that is pocket money, you involved. A couple of grands.. But today? Only 300%? That's nothing. I'll rather buy some Facebook shares.Needless to say, my return on investment was massive. We're talking 25,000% plus. For someone to see that kind of ROI today, Bitcoin would have to hit $125,000 each, or a market cap of $2.6 trillion on 21 million coins. Which brings me to my first point:
There's significantly less incentive for someone to speculate on Bitcoin today.
btw: let me guess, you sold all coins above 1000$. hihi
Quote
but is Bitcoin really a good store of value if 35% of Bitcoins are held in only 500 addresses?
When you consider that 300 of this addresses belongs to me and non of them is cold storage (of an exchange or other service), then no! March 03, 2014, 06:28:13 PM
If you sodl instead of hodling you are going to have a bad time.
Well, the OP is already a millionaire, so I dont think he will have a bad time
Well the OP is worth a million less than he would have been! (Price now way over $650)
March 03, 2014, 01:51:42 PM
March 03, 2014, 01:33:30 PM
For the record, I just sold all of my Bitcoins.
I like posts like these... they usually get posted right at the start of the next of rally
Was I right? Or was I right?
March 03, 2014, 01:31:17 PM
For the record, I just sold all of my Bitcoins.
I like posts like these... they usually get posted right at the start of the next of rally
Was I right? Or was I right?
March 03, 2014, 01:24:24 PM
http://www.thebitcointrader.com/2013/06/is-this-end-of-experiment.html
I thought the experiment ended mid 2013?
I thought the experiment ended mid 2013?
March 03, 2014, 01:19:01 PM
OP sold his coins, price already 10% UP.
March 03, 2014, 11:46:21 AM
No way, we have constantly fall
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