My old officemate become millionaire on investing on Bitcoin - page 2.

serjent05

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Quote from: Eternad on July 17, 2022, 08:05:58 AM

Oh how I wish to share all the possible proof here but this will cause both our privacy so I will leave to you guys if you will believe it or not. I will not try to prove further the validity of my coworker story because I respect his privacy and we are all anonymous here so we don’t need to prove anything to anyone here for just sharing an experience story.

Just a question, if your co-worker consulted you before he sold his BTC, what would you suggest to him. We know being active in this forum we have the mentality that Bitcoin will surge in the following years, would you tell him to hodl and sell his bitcoin in later years or you just let him be with his decision?

Anyway, I am happy that your colleague earns a life-changing profit on his investment I hope he will spend the money wisely.

AakZaki

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Quote from: Oceat on July 17, 2022, 08:58:42 AM

Your co-worker was lucky to buy Bitcoin when it was cheaper than the price today. It seems that trying to copy his strategy won't work the same as he did today because of the price difference but it is guaranteed that if one has enough patience will succeed in the end. How I wish I could buy a single Bitcoin but looking at the price today it seems like almost impossible to happen because you will need more time to recover your ROI from investing to a single BTC. And not to mention the everyday expenses that will be very hard if you don't have enough money or source of income if you invest your savings to Bitcoin.

So it is necessary to do money management to be able to invest in bitcoin well and not interfere with your economic life every day. If you decide to go long term, the ROI recovery will also take a long time, but in crypto it will be faster.
Invest long term and determine at what price you will sell, it is very important and also patience will determine your profit later.

Many have become millionaires because of bitcoin, having bought lots of bitcoins in the past and holding them to this day. But many also regret and suffer losses due to lack of patience and no strategy whatsoever for continued investment.

Oceat

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Your co-worker was lucky to buy Bitcoin when it was cheaper than the price today. It seems that trying to copy his strategy won't work the same as he did today because of the price difference but it is guaranteed that if one has enough patience will succeed in the end. How I wish I could buy a single Bitcoin but looking at the price today it seems like almost impossible to happen because you will need more time to recover your ROI from investing to a single BTC. And not to mention the everyday expenses that will be very hard if you don't have enough money or source of income if you invest your savings to Bitcoin.

Eternad

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Quote from: Poker Player on July 16, 2022, 11:51:54 PM

I'm a bit skeptical with this kind of stories, because there are people who make up stories on the forums and we have no way to check if they are telling the truth or not. I'm not saying the story is true or not, I'm just saying I have no way of knowing.

To me, what stories like this remind me of are the contrary stories, the stories of people who have been around all this time since Bitcoin was created, who bought high and sold low. Many of them are now Bitcoin haters, who after losing money decided they wanted nothing to do with Bitcoin, and are waiting for it to go to 0, as a way of confirming that they are right for not buying again.

Oh how I wish to share all the possible proof here but this will cause both our privacy so I will leave to you guys if you will believe it or not. I will not try to prove further the validity of my coworker story because I respect his privacy and we are all anonymous here so we don’t need to prove anything to anyone here for just sharing an experience story.

Baofeng

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Quote from: logfiles on July 16, 2022, 04:35:06 PM

The trick was to use the money he could afford to live without and used it to buy some Bitcoins and even forgot as though he bought them. And also let's not forget his patience. Five years of waiting is no easy thing to do.

Had I used his strategy, I think would have way more Bitcoins in my account than I have right now.

Oh well, we have our own regret story as well. At least in this case, it end on a positive note for the friend that is huge amount of money already for us here and the officemate is lucky that he didn't forget the password otherwise it will be another lost BTC history. I think one time or another we have recommended bitcoin to someone, to a friend, a family member and maybe have the same story as well. Maybe if we will do it right now (spread the good news), and in the next bull run, we might see another positive story like this.

fortuner

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Quote from: lionheart78 on July 17, 2022, 02:26:22 AM

Quote from: Poker Player on July 16, 2022, 11:51:54 PM

I'm a bit skeptical with this kind of stories, because there are people who make up stories on the forums and we have no way to check if they are telling the truth or not. I'm not saying the story is true or not, I'm just saying I have no way of knowing.

Just go on with the story Grin

. Be happy for the person who forgot his BTC holdings and just remembered recently selling it at $20k. That amount of money is indeed a life changer in my country. But sadly he couldn't wait anymore and could possibly get 5x of the sold value if he waits 2 to 3 years from now.

Quote from: Poker Player on July 16, 2022, 11:51:54 PM

To me, what stories like this remind me of are the contrary stories, the stories of people who have been around all this time since Bitcoin was created, who bought high and sold low. Many of them are now Bitcoin haters, who after losing money decided they wanted nothing to do with Bitcoin, and are waiting for it to go to 0, as a way of confirming that they are right for not buying again.

There is always another side of the story like my friend who happens to have 12 BTC way back in 2016. He sold it for $2000 dollars in the 2nd quarter of 2017 and months later BTC surged. Later he told me that he regretted selling all his BTC that early.

Each has their own unique story about their journey in the world of bitcoin.
Sometimes there is luck that they are not aware of so that everything goes just like that.
I used to have bitcoins too but not much like them.

Nrcewker

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Quote from: 2stout on July 16, 2022, 11:30:59 AM

This is awesome and even worked out better for your friend that he forgot about his investment during the first bull run. One of the best pieces of advise you offered was to avoid altcoins/shitcoins.

Yes there is no coin that has shown the outcomes like Bitcoins.
Glad to hear that the OP’s colleague invested in Bitcoins not any altcoins. For which he gained massive returns in a short period of time.
Also as like always advised, the man also did the same , that is not noticing the price many often.
And see to his fortune, after years he found a great return to his investment.
Similar things we need to follow when invest for long term, we need to show patience and ignore the dips or bearish market.

Davidvictorson

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Quote from: Eternad on July 16, 2022, 09:43:08 AM

Right now. He is planning to buy back at lower price level and use the half of his earnings to start his new business. He is planning again to have another 5 to 10 years Bitcoin investment after he buy back. I will try to get an update about his business and post it here to inspired other new Bitcoin investor. Hold is really powerful strategy isn’t it?

Bitcoin becomes to any individual whatever he or she believes it is. To one it is a scam. To another it is freedom. For me this story is similar to others who could hodl for a long time. There's always a massive return on investment. From your story, I am glad you didn't sell bitcoin to them as a get-rich-quick scheme but as an investment with risks. What exchange did your friend keep his bitcoins? Are there some other of your friends who may not have made up to a 1M pesos but were able to still hodl for a while and still got something reasonable out of it?

lionheart78

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Quote from: Poker Player on July 16, 2022, 11:51:54 PM

I'm a bit skeptical with this kind of stories, because there are people who make up stories on the forums and we have no way to check if they are telling the truth or not. I'm not saying the story is true or not, I'm just saying I have no way of knowing.

Just go on with the story Grin

. Be happy for the person who forgot his BTC holdings and just remembered recently selling it at $20k. That amount of money is indeed a life changer in my country. But sadly he couldn't wait anymore and could possibly get 5x of the sold value if he waits 2 to 3 years from now.

Quote from: Poker Player on July 16, 2022, 11:51:54 PM

To me, what stories like this remind me of are the contrary stories, the stories of people who have been around all this time since Bitcoin was created, who bought high and sold low. Many of them are now Bitcoin haters, who after losing money decided they wanted nothing to do with Bitcoin, and are waiting for it to go to 0, as a way of confirming that they are right for not buying again.

There is always another side of the story like my friend who happens to have 12 BTC way back in 2016. He sold it for $2000 dollars in the 2nd quarter of 2017 and months later BTC surged. Later he told me that he regretted selling all his BTC that early.

0verseer

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This story brings me back when 2018, I also sold all of my alts and turn it to BTC. Got 0.8 BTC from that and I thought I could hodl it for a very long time. When the BTC price hit as low as $4,000, I chicken out and sold that 0.8 BTC for just a little over $3,000. Regret that poor decision ever since.
The only way to be rich in crypto that you should not be active in the scene, just buy some BTC and store it somewhere. Only sell it when the price is good after many years. Just like your friend got lucky because he forgot about that 1 BTC he invested years ago.

ChrisPop

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The temptation to sell is great when you make x multiplies of your investment like in the case of Bitcoin.
Your co-worker would have likey sold if he had watched the market during the bull run. It's a statistic. But it's a good story and you should pat yourself on the back. You are a leader who inspired others to get involved in a phenomenon that is changing the world as we know it.

Poker Player

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I'm a bit skeptical with this kind of stories, because there are people who make up stories on the forums and we have no way to check if they are telling the truth or not. I'm not saying the story is true or not, I'm just saying I have no way of knowing.

To me, what stories like this remind me of are the contrary stories, the stories of people who have been around all this time since Bitcoin was created, who bought high and sold low. Many of them are now Bitcoin haters, who after losing money decided they wanted nothing to do with Bitcoin, and are waiting for it to go to 0, as a way of confirming that they are right for not buying again.

LodisMcguire

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Well it's not that he is holding,but accidentally forget about it because of the busy life.It's true that if we always check the price,maybe we will fall to the temptation to sell in x2 or x3,but if we forget about it and check years later,maybe we can get x100.It depends on how we approach it,if we don't need the fund now,just let it be and hold till you need it.

Darker45

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It's a great story. I'm always happy whenever a life is changed by Bitcoin, in whatever way.

But I'm a little confused. He sold all his Bitcoin at $20k+ and now he's waiting for the opportunity to buy back lower? In the first place, this is the lower already. This is actually the buyback season already. Or how low is his buyback target now? The price has already fallen all the way from $69,000. I wish he HODLed even for a year more.

We can only hope that the price of Bitcoin goes down to as low as $10,000 or even lower. Regardless, however, he cannot buy Bitcoin ever again with the same price that he bought his. I've also bought Bitcoin in 2016 and the price was only around $500. This is now a piece of history that never repeats.

jrrsparkles

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Still I feel pity for him because he missed the peak run again because he could have sold that one BTC for $65K.

If he invest right now then he should wait for another few years but importantly he has to monitor his assets no matter what to get the best out of it.

Captain Corporate

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This isn't really a shock. I have seen 3-4 people who became millionaires investing in crypto before as well. I mean yes its not a common thing neither, I have been here for so many years and yet didn't made anything substantial, but it is also not impossible to face neither. These people are usually bound by one common talent, which is knowing finance. They end up investing into the right thing, at the right time, with the right amount. All these three matter a lot, and then getting out at the correct price is the last nail in the coffin. If you can do all these correctly, there isn't a reason why you shouldn't become a millionaire in the crypto world neither.

xSkylarx

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Quote from: Eternad on July 16, 2022, 09:43:08 AM

Hold is really powerful strategy isn’t it?

Definitely yes if you hold bitcoin and other potential altcoins. But if you hold those what they call shitcoins, holding it for many years is useless if the project is just pump and dump. If the project has no updates and developers abandon it, exchanges could delist that crypto resulting for its investors at loss. So it's also important to DYOR, there are people that will give you an advice to invest only because of its hype.

n0ne

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Quote from: logfiles on July 16, 2022, 04:35:06 PM

The trick was to use the money he could afford to live without and used it to buy some Bitcoins and even forgot as though he bought them. And also let's not forget his patience. Five years of waiting is no easy thing to do.

Had I used his strategy, I think would have way more Bitcoins in my account than I have right now.

These strategies won't work with everyone. Here the user have forgotten it. Another thing when we're in need of money we'll surely look for the investment and make use of it. As the user have forgotten it, the holding have lasted for 5+ years. Always spend after meeting the months expense could let users have more funds invested in cryptocurrencies.

sunsilk

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Quote from: Eternad on July 16, 2022, 09:43:08 AM

Hold is really powerful strategy isn’t it?

Yup! True!

This is the strategy that others don't want to do because it requires too much patience. But we, who knows how and where being patient and calm in holding bitcoin will bring us out.

Just like your ex-officemate, we're having that very moment of our lives that if we just hold and believes that there's a bigger future and purpose for bitcoin. We'll just have to wait.

I've got almost the same situation and I've talked to many of my friends and only to find out that they're all out during 2018 bear market but only one stand out until now.

cryptomaniac_xxx

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Quote from: Slow death on July 16, 2022, 05:23:58 PM

I particularly avoid talking to people about bitcoin and investments, because when things don't go well people always tend to blame the person who gave them advice. for example if I had told someone that buying bitcoin was good and that person was buying bitcoin when the price was 50,000$ and today the price of bitcoin is at 20,000$ that person would be blaming me, he would be thinking that I deceived him then to to avoid me having unnecessary problems and headaches I don't keep giving advice to people to buy bitcoin. I let them know about bitcoin through other means. in the past I even talked about bitcoin to some people, but it was really out of coincidence that I said

I somewhat agree but most of the time, bitcoin enthusiast can't help themselves, but to tell other people about it and silently tell them to invest on it. I have a similar story with a nursing agent, pre-pandemic, around 2019 and he keeps asking me about bitcoin and said yes why not, and I tell him that there will be this so called "halving" that might be the catalyst for a "bull run"

Terms that at that time he didn't understand, but he invested anyways. Fast forward to pandemic, same, he just went to the province but keep monitoring the his investment until such same that we hit the bull run and he made a lot of money as well.

Topic: My old officemate become millionaire on investing on Bitcoin - page 2. (Read 622 times)