Topic: If you had the knowledge back in 2011 - page 2. (Read 1464 times)

it is not about IF, because we all had the chance to invest in bitcoin back then and i am sure many of us knew about bitcoin so we have the knowledge. i myself know about it in late 2012 but never bothered to look into it more, and i will regret that for the rest of my life.
and it doesn't matter when you find out about bitcoin, as others said you always invest what you can afford.

and for your other question, it is not going to disrupt the progress of bitcoin, not even back then. there were always more than enough bitcoins anybody could buy.

the same thing as today and the same thing as 10 years from now: what i can afford to invest!
we never know the future, and any investment no matter how good you think it is, will have some risks. we all know the risks of bitcoin and it is always a good idea to invest what you can afford. it doesn't matter if it was in 2011 or 2017 or even 2022. bitcoin is still on the way up with its adoption growing day by day and that means investing in it will give you a big profit for the future too.

^ This. There are so many scams, HYIP and ponzi schemes around that your first instinct is to always be defensive. There are so many promising penny stocks in the market that can make you a millionaire 10 years from now but would you take a bet on them?

I first heard about Bitcoins back in 2012. I read a random article on the Internet but it mostly went over my head and I didn't give it a second thought. Mainstream media never covers this stuff in my country anyway, so it's easy to forget. Next time I heard about BTC was in mid 2016 and I nearly fainted looking at the price. That is when I decided to learn all about it and get myself a few coins asap. Looking back, yeah I missed the boat between 2013-2016 but I wouldn't have invested in it back in 2010 when it was still an unknown entity.

We are in the same boat with altcoins right now. We can buy truckloads of them right now and hope to become rich one day but that's always a gamble.


It's called hindsight bias. It's easy to look back and think of it as a missed opportunity but the reality is there are millions of hidden gems in the market and it's always a matter of luck which investment will pay off. For every guy that got uber rich by buying Google shares early on, there are thousands who invested in shares of failed companies and lost everything. Bitcoin is/was no different.

Ya it is true what you are saying now we cannot compare with past and cannot say that if that time i was knowing it i would have done this and that . But think that who ever knowed it even they also did not valued it and dont know that in future it will be like this.  Even their are so many new altcoins which are having so good projects but still no one is holding right now because what knows in future this coins also perform like bitcoin performed. So no one knows future and if everyone know it then the future would be different due to current situation.

This is something which cannot be imagined. Everytime when something goes really high like bitcoin people start saying if you had a chance or if you get a chance to go back to the initial stage of this or this. So, this is useless guys stop imagining and accept the fact. No one knows when a coin is released will go high like bitcoins or not or anything like bitcoins. We cannot just predict some guys do, but they do not have the funds to invest in the initial stage so they just start selling off when it (the item) is just raised in (price) by some factors. When Google was in its initial stage no one was interested in investing, but still there were some people who bought some shares of it and now they are earning a really good amount. I have seen some companies.

I wondered many times what would I do if I knew back then that bitcoin will start economic revolution. I would probably sell everything I have and buy BTC.
Back at that time in 2009-2011 bitcoin faucets were giving out pretty much whole bitcoins - you could just claim rewards and be a millionaire today.

I don't believe that you would interfere with the market buying large quantities of BTC. No unless you were a fiat whale at that time already.

Point is that not everything happens through exchanges. I am fairly sure that insanely large trades happen off exchange. Main reason for that is that people want to remain low profile, but also not to affect the markets, as even till this day, markets have very poor liquidity. In the same way that whales can't comfortably unload a huge load of coins without dumping the market down too much, they can't buy a huge load of coins without pumping the price too much. That's also why the FBI auctions have turned out to be rather popular. It was a perfect opportunity to obtain large number of coins at a fixed market rate.

This is quite hard to answer, even with the knowledge, with bitcoin condition during that time, I do not think that I will invest a great amount of money in this technology.   And during those time, bitcoin is almost worthless.  Anyway to cut the story short.  I think I will have the same mindset since I do not know that bitcoin will be this popular during that time.

Maybe people will create threads like this in 2023 and ask the same question about 2017 

there are real examples of this. roger ver bought something like 300,000 coins on gox. he didn't seem to care about affecting the market, he carried on buying.

That's right, you never know, that's why no millionaire has put all his money in Bitcoin back then and even now. After 2013, when Bitcoin was gaining $100 a day for almost a week straight, people knew it could be a money making machine. Some of the richest people in the world could sell a mansion or two and throw something like 10 billion into it, but they didn't. I'm sure that if I were filthy rich and had 50 billion USD like those guys on Forbes list, I'd surely put at least 10% of it in Bitcoin. Life is all about the risk and risk is easy if you have a backup plan.

What would you do now if someone tells you that he knows the next big thing that will have a huge appretiation in some years? And that you should invest all your money in it, really, sell your house, go to work day and night, sell your body and invest as much as you can.
Probably you would just walk away and forget it.

There are no questions back then. They were paying for a lot of bitcoin just for a pizza. You can have as much as you want and miners would really love to sell it too you.
They need money to pay up for electricity and what they mined doesnt fit it. So they will be running to you just to sell their coins.
It is really a different era there and it is hard to compare specially when you dont know this could happen.

I'm just curious, but if you were given chance to invest in Bitcon back in 2011 (or early 2012), how much would be the optimal ammount to both a) not raise questions and b) not intervene with the progress of Bitcoin's appreciation? I mean couldn't one person just out of the blue investing too much money into the currency somehow hurt the progress of its rapid growth over several upcoming years? Also - aside from sports betting - what would be some other good investment opportunities for a normal person back in 2010-early 2012? Thanks for any advice

its for a school project