Topic: My old officemate become millionaire on investing on Bitcoin (Read 622 times)

In order to be able to do so, we need to have enough faith and a strong spirit to overcome the temptations and fears of the market. Furthermore, in order to have a comfortable investment position, you have to invest only with idle money without borrowing or taking out a mortgage to finance your investments. we will be fully confident enough to hold.

The lesson learned from this story is, only buy and hold, do not sell in the bear market, only sell when you have made a profit, you will succeed.

Forgetting doesn't mean not knowing the future, because I'm sure most of those who forget to invest in bitcoin already know and believe that the future will improve and be very profitable, and the OP's story was very lucky to be able to resell it after knowing the increase in bitcoin.
investing in bitcoin and forgetting for years is a very good way because we all know the future will be much better and very profitable considering its growth and increasing popularity, and actually i want to do it but it is very difficult due to sudden need which sometimes happens by accident unexpected that forced me to use it.
and I invest in bitcoins for reserve funds that I can use when I really need them and only use them as needed.

Forgetting about your investment really helps because instead of checking the price chart to keep updated, you tend to ignore its current price and also it’s price fluctuations. Good thing because you won’t be bothered every time the price of bitcoin drops, as you are not totally obsessed with your investment. Also, hodling makes a lot of difference than selling in short term. Even though not all investors can keep their patience and hold firm their investments.

Bitcoin investment shortest way of making money without any problem and any disturbance that is what we want to deliver how you can become a super billionaire through crypto currency and mine you will cryptocurrency prices low so if the price is lower than the hood then after some years of then you said them this call will make you a millionaire used to buy Bitcoin the investment is something that involved prophet and the Lost become the same time make way of prophet and the same time make a way of lust

Nothing is assured if we do talk about future things since we know that it wont be guaranteed that you would make yourself rich when the time comes because it would all matter on what coin you've been holding

and we know that not all projects would be flying out with colors in upcoming years to have thats why it is really mixed with some bit luck whenever you do make out investment aside from the analysis you had put in.

To those people who had take up some risk into those early years of bitcoin didnt even expect for this time to come on which its value had raised up into the point that
people who are accumulated big amounts could really be determined as rich people as of this moment.

Hodling for long term investment certainly pays off in time. Of course, with the right coins that you are going to invest and not on shitcoins or meme coins. And maybe one thing also can help, is that invest your extra money and don't anticipate the future profits it will gain. Forget your investment if you can so that you will not check its price often which i think would lead to panic selling if you care for its price that much.

Hold is indeed, Gold, your friend is a wise man and indeed, very lucky, your friend is a clear evidence that confirms that believe that intelligent people don't talk too much and they are the ones that mostly sit at the back of the class.

This story is similar to mine, and also happened in the same year, 2016, the only difference in the story is that my own friend lost his wallet seed phrase before he remembered he had an investment in crypto, coin i helped him buy in 2016, created a private wallet for him, handed over the seed phrase to him and asked him to keep it very safe, i helped him withdraw the coins i helped him buy from a centralized exchange to his private wallet, i later left the company where we worked together are started my own business in another state, he totally forgot he invested in crypto and in this year 2022, going through my phone contacts, i saw his phone number then i remembered him, i called him up to check up on him, by now, that coin i helped him buy when its price was around $0.02 is now trading above $6.7 usd, i thought to myself that this guy is already a millionaire if he has not sold the coins till now, i asked him and he said he has not sold it, I told him to check his wallet to see how much he has in there, he told me he has changed phone and does not have the wallet anymore, I asked him what about the seed phrase i wrote down for him and asked him to keep safely, he said he lost it a long time ago, that he cant remember where he kept it, i was so disappointed, his crypto investment can not be less than $33,000 right now , but he no longer have access to it because he lost the seed phrase of the wallet.

With bitcoin investment we won't get tempted to sell, we all finally become prey of panic movements out of market crash. This can be overcome by having trust over the market. The story is a learning that we should not sell without reason. Everyone won't be able to hold bitcoin and forget about the investment. For the person in the story it has happened just because he forgot it, if not surely he could've used it earlier.

That's an interesting story. Sometimes, we only need to hold and forget about our investment for a while so we'll never be tempted to sell during a crash. Bitcoin made lots of people millionaires, especially those who took the risks and trusted it. This is inspiring and the story only taught us a lesson to grab the chance of buying while the price of Bitcoin is still low so we'll never miss the chance of gaining a good profit when the bull run comes. Bitcoin will always be worth investing but we should be brave enough to hold.

I think that many people are happy when someone says that they are a millionaire thanks to bitcoin, because it is a much easier way to fulfill dreams, there are people who are envious and do not like it when someone does well, but when a person takes risks and give it to him, is when it is said, that if it is worth it, then every risk has its good pay if it is given, the most that can happen when you risk a lot is that you lose, and I consider that every person should and has the capacity to get out ahead.

Good thing that your friend still remembers you after so many years have passed especially now that he is wealthy now but what usually happens is that people will forget you when they have something but only remembers you when they have nothing and you are the ones who have something.

Just watch out and maybe your friend decided to gave you something because you are the reason on why he have that money right now. It's only funny to think that we are the ones who are more experienced but we are also the ones who earns lesser than to those people who once listens on our advises. Ah I guess they are just more patient than us and they have more control.

Becoming a millionaire out of Bitcoin investment isn't a simple thing. Because, we don't know how far the price will move, and here the beneficiary out of bitcoin investment was able to use his investment as he remembered it after years. Right now I don't find this to be big, but it would be very interesting if bitcoin usage is enriched and the countries on the series issue of economic crisis can come out of it. As of now it is sad to hear that more 12 countries are on the list after Sri Lanka suffering the worst economic situation.

Glad to hear that he became millionaire, Congratulations to him
There is no doubt that if you have tolerance and ability to take risk then you can become a millionaire. However, if you're the type of investor who is willing to shoulder enormous risk in the hopes of becoming rich, you should at least consider employing some strategies to minimize risk while still offering significant upside.

Looks like he has some good opportunities since the price today is low and he can take the first step to but bitcoins and gonna hold it for the years to come. along with his business plan, I'm sure he won't gonna need the funds in his crypto wallet because the money that his business brings to his home will gonna be enough for him to survive and might be more than that. Anyway, we heard countless stories of holders, especially those who hold for the long-term, they are really one of those who gonna maximize their incomes.

my friend also held bitcoin for a long time but my friend did that by accident I mean my friend forgot that he bought bitcoin then in 2018 my friend set aside his money for bitcoin investment and yesterday in 2021 he sold it and he made a lot profit.

Just think of it that someone who doesn't look who's into bitcoin and he's the one that got to hold more than anyone else in your circle of friends. With all of those years that he has been holding, he also learned how important it is to hold and have a vision for the long term.
And now that he's got better capital, he can play with his money all along with the market and its situation. That's what you must do and be wise with your profits and secure that you're able to make something else out of it.

Thanks, good luck to both of you.

Everything seems very simple at first glance, but investing is a very difficult thing. You need to choose a good time to buy, so as not to buy at a high price and not sell on a fall. It is also very important not to sell very early, at the beginning or in the middle of a growth cycle. This is all very difficult, you need to have great knowledge and very good patience to make it work. It may just be lucky, but cases of luck, as always, will be very rare.

Investment is always a personal interest, those who are interested Invest to make profit. And also Investment has risk. But it is a calculated risk. Before you invest on any business you have to calculate the benefits and the risk on it so in case you lose, you have already calculated it so it would not pain you if not calculated. From your story I also encounter such situations in the first crypto currencies seminar, I was asked to invest but I reluctantly left the seminar without Investing, so the boy who followed me to the seminar today is a millionaire

Reading the answers, I simply imagine how many people among us could be rich now. I also missed this opportunity by having the "here and now" task. My boss offered to pay for the work I did on the Internet in bitcoin, but at the time I didn't think that was reasonable. I regret not giving bitcoin a single chance to get into my wallet. And in addition, to forget about it for a few years.

Some people are wise by nature. They do not need to be taught in life how to think about the future. We were hot and impatient in our youth, but OP's friend turned out to be more patient, thereby grabbing fortune by the tail.

OP, you should probably keep up with your buddy.

And the same stories will be made again for the next bull run.

It can still work if people thought that $20k was too high on 2017 then we're just on the bottom of the same price right now. It could be doubled or tripled and that's too much already if it went more than those multipliers for the next bull run.

Just DCA friend, you may not be able to buy a whole bitcoin but you can still buy a little by little until you reach that. It may take time but you save.

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.

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.

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.

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. 

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.

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.

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.

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?

Just go on with the story  .  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.


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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

This is true, as you can never tell the future of bitcoin, it is hard to suggest this market to someone.
Unless, that person also understands the risks involve upon investing in this market.
And he knows very well that you are not liable about what may happen next, as you have no control in this market.
Most of the time, I also don't disclose my crypto dealings as I don't want them to lead in a very unfamiliar route.

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

Of course he keeps it in a secure wallet and also stores it well so he has easy access to it when his time comes.
Holding on is a great way of Bitcoin strategy but are we strong enough to over the years forgetting about it and recalling it at an insane price? That's not possible for me because when the item is lying anywhere I will check it so that I know it's a bitcoin wallet and it must be sold because every time I see market movements so it goes up a little I immediately sell.
But I think this story is cool maybe someone can follow in his footsteps even though it looks easy but in fact holding on for a long time is difficult if we are in the market all the time.

My boss who got excited about this one coin back in the day. He was convinced that it was a better form of cryptocurrency. He never listened to me even I told him hundreds of times that it's all fake. Their own buy sell platform, use the coins to trade physical products and many promises were making him to believe that this was the real deal. He put £30,000 to become a millionaire. The coins will be doubled, tripled. Price will be 100x, 1000x. It was a ponzi scheme. Right hand and left hand scheme. Eventually he lost all the money. We still talk few times a year and he regrets for not listening me.

He is so unfortunate that he still hasn't bought a single sat yet. The guy was never been able to recover his financial loss.

It was a common thing back in the days. If you were talking about crypto to 10 people, you would find 9 of them were thinking you were pitching them ponzi scheme.

^ If we are addicted to BTC too much, I don't know if we can able to hold our BTC for 5 years, that is very interesting because the temptation was always there telling you to sell your BTC because you are in lack financial support. The story could be his friend forgot that he bought BTC and the good thing is he bought what he can afford and patiently wait for it.
I don't know why he sold it early, there could be another x5 profit if OP's friend wait another 5 years and don't miss the next halving that nearly come.
However, the story was very spring and I hope everyone will do the same.

The story is indeed inspiring. Hodling is never that easy for all of us as it always tests our patience and our faith in crypto especially when there is market crash, that eventually makes our investments fall apart. If you have weak hands, the tendency is you will sell immediately your coins like his co workers did. But forgetting your investment, not checking the price often, is really helpful I guess. This story is something that has a very legit ending, that hodling alone can make you an instant millionaire if you also have faith on your investment.

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.

I'm keen on where he kept his coins all these years that he still has easy access to them. People who often forgot that they have things lying around usually throw these items unknowingly. Lucky for your friend since he still managed to keep his coins and gain access to it when the time came. I remember the thrill of checking the price almost every hour to see if my initial investments already generated a profit. Good times, and I'm still into bitcoin even though I have left my habit of constantly checking the price.

My thoughts are that the goal should not get rich by selling it back to fiat because that (seems to me) is equivalent of devaluating Bitcoin. I see it like 2 pool. One pool is filled with fiat money and the other with the current supply of Bitcoin. When you buy Bitcoin, some of the fiat is kinda trnasformed into Bitcoin. So Bitcoin "aquires" that fiat money value. If you sell Bitcoin back to fiat for more fiat than the initial invested, then, you are transforming more Bitcoin back to fiat, than the fiat that you transformed in the first place to Bitcoin, therefore you kinda devaluated Bitcoin. So, my view is that we buy Bitcoin and hodl it, or in the best case scenario, you trade it for goods, services, etc. Give it use! But not sell it back to fiat!

That's what I call an office colleague - he helped a guy get rich! But your story could be one of those where people lose a lot of money because of other people's advice about investing. I'm curious to know if the others you taught to use stock exchanges had any sad experiences? Sometimes I hear success stories too, but not many tell how many failure stories.

If he had 1 Bitcoin in his own wallet during the time when many Forks were created, his "empty" wallet is still worth about $200 (10k pesos).

You're probably right, I also had a similar experience. A friend mining it back in 2011 when it was considered "magic money" didn't interest me. Then I came in contact with a team of core developers (not gonna name names), but again the idea that it was already worth hundreds seemed too expensive to me at the time, especially when it was already down 50%+ from $1K. It was only when I started to probably learn about it when it was worth thousands that I began investing. That and the fact to me it had proven that it wasn't going to go to zero in a hurry, which takes time to prove, that was an important aspect for sure.

The problem is without some research - mainly into the total supply as well as inflation - it's hard to understand how Bitcoin could be worth more than $1, let alone hundreds of thousands.

More such success stories can be seen around the globe. Very few gets revealed to the common people. Rather than inspiration, what has happened is coincidence. All of the sudden remembering about the investment made years back and making big money is a coincidence out of the potential market.

It’s kinda crazy he didn’t see the daily crazyness on the news during the last 2 bull runs 😊

But indeed forgetting about an investment is usually the best strategy

Yet another successful bitcoin story. Your influence from your coworker have made them rich especially for an average earner from our country which is Philippines (based from the currency and conversion). Holding is such a powerful strategy as a long term investment especially when the person forgotten his investment to avoid continuous checking and possibly selling which what happened on your friend.

I have a similar story as I've been encouraging my friends during college to invest or even check bitcoin way back 2016 as I see a potential of earning money while studying. Unfortunately, I have only succeeded on getting their interest on early 2017 as bitcoin has been reported on various news and articles. At that time they were able to earn enough to be necessary things such as Laptops, PC, Motorcycle and other things. Most of us halted our bitcoin and crypto activity during the 2018 massive bear market and focuses on our studies.

Right now, most of us are back with our crypto and bitcoin activities and most of them are now doing trading as their main source of income and now able to buy houses, cars and businesses. We have been helping each other and guiding on where to invest and even lend for us to be able to buy all the things we want.

For me it was in fact a colleague who got me interested in bitcoin. and since than I realized that blockchain is going to transform the future and since than i became a bitcoin fan. I had been in crypto space, I invested in learning more about crypto and It paid me smartly. Bitcoin is going to stay here for long, It is in consolidation stage and the crypto transformation is a long process, which will take a few decades to complete. As more and more people will understand blockchains and bitcoin, there will be higher adoption of bitcoin and bitcoin will rise high.

Almost the same thing happened to a friend of mine.  I remember him telling me in mid 2021 that he got a token working on Bounty.  He couldn't even do a pancake swap.  Then I myself calculated his full amount of the token at that time and saw that it was close to 12 dollars, then I told him what to do by exchanging so little money, hold it. And I didn't teach him to exchange later.
Then after three or four months he came to me and said, look, is it showing such a high price, is it a scam or not?
My eyes widened when I saw it.  I see that the token of that 12 dollar amount has become close to 1200 dollars . And then he was telling me that you did well not to teach me how to exchange. Then maybe I would have swapped it out.
And the token was a meme-coin and that was Goma-finance. And that's how a friend of mine became a pro profitable trader through Meme-Coin

Good thing he was not checking his wallet as often otherwise he would have sold long before he good make a good profit out of his investment. The best strategy is to hold no doubt, besides making a good profit you also have a rest of mind while holding, it is a win-win. Am happy for your friend, you could tell how happy and glad he is with his investment. Am sure he will be so excited to share his story with others who might be inspired and interested as well.

They probably thought that bitcoin priced at a few hundred dollars was too expensive already and that there was not any possibility for bitcoin to go any higher than that.

While I have not been in this market for so long I still got in at a decent price and I tried to get others involved in it as I saw how great the technology was, the result? I never got anyone to adopt bitcoin and I was even accused that I was planning some kind of scam by using bitcoin as a tool, so at some point I just gave up and never discussed bitcoin with anyone, except with the people at this forum.

Back in 2011, I was spending quite a bit of time daily learning about Bitcoin while at work.  I would tell everyone to buy some Bitcoin.  Anytime I interacted with an IT person I'd ask them if they bought Bitcoin.  It was always the same dismissive attitude like I was trying to push them into a scam.  I wonder if any of them talk about that guy from work who wouldn't stop screaming for them to buy Bitcoin at $2.  Needless to say, by the time Bitcoin hit the hundreds of dollars per coin I was on my way out the door and I don't think I ever got anyone to buy any BTC.  Hopefully the seeds I planted were able to help someone down the line.

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.

To be honest, investing in top altcoins in 2016 and early 2017 was very profitable, as many grew immensely over 2017 and till the beginning of 2018. But yeah, Bitcoin was and remains the safest crypto investment because the risk of investing in other coins it higher. I am happy that this person became a millionaire, even in terms of pesos rather than dollars. $20k is still significant money, especially for a developing country. And buying back for long-term hodling is IMO a good idea as well. I hope it all works out for that guy.

Hodling is the best strategy when it comes to Bitcoin.
Those who sold earlier could have realized that, you only actually lose when you cut your losses and not when the market goes bad. They probably did not fully understand how Bitcoin works or why it was valuable and would be more valuable in the future.

Many users take repeated market cycles to realize how Bitcoin volatility works, while some are sold in on the technology immediately and create an estimate of how valuable it can be based on its potential and qualities.

Congratulations to your friend, hope he becomes a bitcoin holder again pretty soon and hope he actually keeps up to date with the news around the network to know the most ideal wallet to use and maybe grab a fork or two, who knows.

---

P.S, did you friend pick up some Bitcoin cash airdrop after the fork?

Actually I was very proud of him not because he follows my advice but by trusting and believing my vision that Bitcoin will that price level even though price is just very from our target. It's like the current price and the hype current price target of 1M USD per Bitcoin back then.

Until now, He still didn't want to venture out on altcoins which is a good thing for him as safe investment. Haha

That's a nice story to hear. The takeaway for me was that unlike the others he held because he forgot about his investment. The irony being that he could of sold back in 2017 just below $20K and started his business many years ago, but that's beside the point really. The most challenging parts of hodling is not taking profits too early, selling too late, or failing to buy back. Forgetting about the investment certainly helps here!

Glad to hear he became a peso millionaire either way

Your story seems related to that of a user who share similar experience on how he takes advantage of the break period to teach his colleagues, but nevertheless its motivating and through this, we can know better the benefits in holding pays than it could be a risk threat, this is one of the great benefits that long term investors derived from their bitcoin digital asset, what we need to clarify to others especially the beginners is that whenever bitcoin run dip, it's not a time to fear about uncertainties coming up but rather take a good advantage of it to invest, bitcoin is not thesame as altcoins which eventually dies along the way, we invest in bitcoin when its dip to sell off when it's surge high, which is one of the ways volatility works with bitcoin price

To begin with my story, I was a working with this guy to a small company way back 2016 when I just newly discover Bitcoin and cryptocurrency. I was new on crypto trading that time so I usually invest on shit coins and trade on CCEX. One day my supervisor caught me doing trading while office hour but luckily he became interested so I was saved that time. Then our whole team in office become interested on it since my supervisor keeps badgering me about it but I was hesitant at first to introduced Bitcoin to them because I know how risky crypto is due to volatility at that time. The price swing is more terrible back then compared now so I’m concerned with there money in case they will start investing because of me.

After a week of slowly educating them during our break. I told them to just buy Bitcoin and never invest on altcoin. I firmly instructed them to just hold and leave there tokens as is on there Bitcoin wallet until the price reach 1M pesos(20,000$) before they sold because our target that time is to become millionaire even if we are just fooling around. Then we decided to buy 1BTC at the same time and after that they all became addicted on checking the price time by time. Some of them sold early because the price dip a few percentage and they are too scared that they will lose everything until they stop investing in crypto because of volatility.

I thought all them already sold there Bitcoin and loose interest  since no one talking about in our office until we start leaving our job 1 by 1 so I don’t have any update anymore about them until yesterday, I received a message on social media from one of my co-worker who luckily didn’t sold his Bitcoin way back then. He follow my advice because he trust me as his senior and he knew that my goal is true, He said that he just forgot about his Bitcoin investment during bull run 2017-2018 and missed the first bull run because he live on his province after we leave our old job and become busy on his job there. He still hold after that and he just remember to check his Bitcoin investment this after 5 years of waiting. BTW his province is still not developed so internet signal is very weak and most people there is very focus on there own job. He was surprised about the growth of his investment. He sold at 20K+ approximately 1M pesos in our currency. I told him that if he only early open his wallet, he can get almost x3 of the current value but he still happy of his investment because it’s already huge in our country and he is only doing a job with minimum wage rate in province. But he said to me that if he always check his wallet, He maybe sold on much lower price and his target on checking it is after 5 years since he miss 2017 bull run. I was very amazed on how dedicated this guy is and even as coworker, He is just very silent and keep listening whenever we have group conversation. 

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?