I've seen you on the forums since november last year. Are you even learning?
Please go
I like how no one on this thread so far cares about posting timeframes. Likely because the majority here think in terms of months, not years. Blame the ADD generation.
Dafar, if you hold those coins for 20 years then Yes I guarantee that you'll be rich. Maybe sooner. Maybe even in 10 years. But I'd bet my life you won't have it in you to hold them for that long. You'll sell some the first time you think that you need some money (e.g., college, car, house, stupid wedding, frivolous purchase, whatever). And you'll have sold them all long before 20 years have passed. And you will be regretting it, telling all your friends and family "Man, if I had just held..."
If you're thinking that you'll be rich in 6 months, 12 months, or even 24 months, then No.
Dafar, if you hold those coins for 20 years then Yes I guarantee that you'll be rich. Maybe sooner. Maybe even in 10 years. But I'd bet my life you won't have it in you to hold them for that long. You'll sell some the first time you think that you need some money (e.g., college, car, house, stupid wedding, frivolous purchase, whatever). And you'll have sold them all long before 20 years have passed. And you will be regretting it, telling all your friends and family "Man, if I had just held..."
If you're thinking that you'll be rich in 6 months, 12 months, or even 24 months, then No.
I'm thinking in terms of at least 3-5 years.
I will not sell any of these coins unless there is another insane rally. 20 years is too long though... in that amount of time there is more of a risk coinbase shuts down or I simply lose my BTC via HD crash
you'll have a few million dollars in today's purchasing power in 10-20 years, most people would consider that rich.
Yes that's what I mean by "rich".... a few millions $ in today's purchasing power, it's not all that much but comfortable
21 BTC being worth a total of $1-2M in 3-5 years? Very, highly doubtable. You'll be lucky if the exchange value is $10-20K per BTC in 5 years. But who knows, maybe the world will have fallen in love with bitcoin by that time and demand grows crazy.
And I still don't think you'll be able to hold them all that long. 99% can't or won't. Please be the exception!
I agree, most people won't hold that long.
AAPL was at split adjusted 0.937 in april of 2003, less than a dozen years ago. How many who bought then held until now-very few if any.
Same will be with BTC if it will go up 100-fold in the next 12 years (by the year 2026).
Yep. The other think people forget is also the constant downward pressure of early adopters, miners, and whales. Of course it is a good thing that they sell a little on the way up, as wider distribution will hopefully create a less volatile market. But the fact remains that any selling along the way by early adopters, miners, and whales will constantly slow the progress to a higher exchange rate, as their rate of selling (and not buying back at same price) will likely throttle up and down to match the public demand (as well as increasing hashrate, slowing inflation, etc.)
Imagine if, starting today, 95% of the world's gold or diamond mines and reserves were in the hands of like a 1000 people (and before gold & diamonds were even deemed to be all that "valuable" by the populous). It would take a longer time for a wider distribution of gold or diamonds to occur throughout the world populous and still have a steady climb in yearly exchange rate.
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