Topic: If you spent $500-$1000 on bitcoin in 2009-2010 - page 2. (Read 443 times)
We always make speculations and try to assume things in the past. One thing is for sure that it can't be changed and there's no rewind but it does makes sense if a big entity does have that money and tried to buy most of these bitcoins earlier. But most of the new things in the past won't make people pull out their pockets easily. Realizing on what Bitcoin gone through all of these years is just amazing to think of. All of these situational posts and threads that have been made, I know that we have to embrace the reality and all of these threads are just for the sake of discussions but we just move on and look at the current side of it.
no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
People would always mine BTC as long as it's profitable enough to cover the electricity costs and some of the equipment costs, which is a pretty low margin. But having 5M early coins on top of Satoshi's coins concentrated in the hands of a single individual would be pretty toxic, everyone would be afraid of a huge crash when this individual would start selling and the addresses would be closely monitored. But if the coins aren't moved for a decade, people would start assuming those coins as lost.
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them. The going rate back in 2009 to January 2010 was $1 for 1400 so let's say you bought every bitcoin besides your own mined and Satoshi's from January 3rd 2009 ( the first mined bitcoin by Satoshi ) to February 2010 and then kept buying for the few months every time someone mined bitcoins you asked if you could buy them. Then when Laszlo did the pizza deal, you would've bought him a lot of pizzas, then when SmokeTooMuch tried to sell 10,000 for $50 and another guy tried to sell 22,000 bitcoins for like $70-$80 you would've bought that... basically every time it came available. You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
Interesting scenario, I've never thought about such possibility, but it seems that it's entirely possible. Well, apart from the fact that it would be pretty hard to buy ALL and EVERY Bitcoin out there.
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them.
There's no guarantee that they would sell to you.You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
What would be the rationale behind doing that?Even if you could someone acquire 5 million units of bitcoin, which is almost impossible, and disappear with it, it just makes the rest of the bitcoins more expensive.
The logic as we all know; price reached multipe ceilings. When it was still at $10k people are afraid to purchase. When it reached $60k people are hoping for a price correction. Then when a sudden decline happen, people would still wait for things.
What am I trying to point out, is that no matter how we desire of things at the present from this cited instance, it would only be the investor to decide what's best for your feat. Enough with regrets and what ifs, 'coz if really want to invest then go.
in that scenario bitcoin wouldn't worth zero, because people keep mining then, and even f you have 5 millions an satoshi 1 million, there still 15 more million bitcoins to mine.
i even would say the price would be even higher, because there were less bitcoins to trade.
i even would say the price would be even higher, because there were less bitcoins to trade.
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them.
There's no guarantee that they would sell to you.You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
What would be the rationale behind doing that?Even if you could someone acquire 5 million units of bitcoin, which is almost impossible, and disappear with it, it just makes the rest of the bitcoins more expensive.
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them. The going rate back in 2009 to January 2010 was $1 for 1400 so let's say you bought every bitcoin besides your own mined and Satoshi's from January 3rd 2009 ( the first mined bitcoin by Satoshi ) to February 2010 and then kept buying for the few months every time someone mined bitcoins you asked if you could buy them. Then when Laszlo did the pizza deal, you would've bought him a lot of pizzas, then when SmokeTooMuch tried to sell 10,000 for $50 and another guy tried to sell 22,000 bitcoins for like $70-$80 you would've bought that... basically every time it came available. You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
Yeah, i've thought this too. I mean people would mine them, for sure, they mine anything, but being a whale at the start in alternative history would have changed the playfield and the players so much, that bitcoin wouldn't have same changes. people wouldn't get to buy them as cheap as they did. Wrong people might be interested and right people look away as they would see it centered to one big whale, who has potential to crash the markets any time he/she wants.Even a small change in history could have taken away someone's share away, who has been essential to success of bitcoin. And even if someone entered early, they most likely had been sold everything long time ago, no one could have even dreamed we got here, except some crazy people who eat glue or something, so you wouldn't listen to them anyway.
Would be in huge profit for sure but I still won't blame them from doing so especially that time. We also have the regrets simply because we already saw how it showed the potential of of it. If you can take back time, what would you do? Take note that it's value before is not as big as with the others. Therefore, they simply disregard the potential this industry is having. A man selling his pizza for a or in exchange of his holdings that has nothing much if a value before. But since by now we saw already its peak price increase based on previous market price milestones. It might be too late for other investors but for me nothing's too late. The price is still below its previous all time high which should create enough validation with things that we could still ride the tide. Sometimes it is not only with one's silly decision, give him the benefit of the doubt that he had a strong reason from doing so. That's his money by that time in the first place and for sure he is one who have learned from it at the present. For now, Wait for the right entry point 'coz right now consolidation and demand are around and there are still tendencies for another price correction which we should be waiting to happen.
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them. The going rate back in 2009 to January 2010 was $1 for 1400 so let's say you bought every bitcoin besides your own mined and Satoshi's from January 3rd 2009 ( the first mined bitcoin by Satoshi ) to February 2010 and then kept buying for the few months every time someone mined bitcoins you asked if you could buy them. Then when Laszlo did the pizza deal, you would've bought him a lot of pizzas, then when SmokeTooMuch tried to sell 10,000 for $50 and another guy tried to sell 22,000 bitcoins for like $70-$80 you would've bought that... basically every time it came available. You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay
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