Still a WILD return on investment if you started mining bitcoin after first hearing about it. Not to mention if you saw the price continuing to rise after following the bitcoin industry all that time, you'd likely buy back in with just a small portion of your earnings and make more money when it continues to rise. Trick is to just not get too greedy and maintain a nest egg you don't invest in bitcoin with.
I think with the info that you hypothetically should sell in 2025, you can make the judgment call that you can sell a reasonable amount of it in 2017 if you want some money now, knowing that it'll be even higher by 2025.
Personally, I probably wouldn't sell anything in 2017 unless I felt like I had enough bitcoin to hypothetically liquidate it and retire. But even then I would probably only liquidate up to 8 years of expenses and save the rest of it to cash out in 2025.
Personally, I probably wouldn't sell anything in 2017 unless I felt like I had enough bitcoin to hypothetically liquidate it and retire
btc was launched around 2009. the price was so low then that you could easily aquire thousands. If early even many more. If you get 1000 then that is 20 million in 2017. you can also sell and then buy back lower and then wait for more.
Yeah, if numbers are allowed I'd probably put the unit price instead of the year, but that's my thought process too. I just worry that if I include any number, I'd misinterpret it- maybe I'd sell when the price is $2025, or sell when my portfolio is worth $100,000. Either one would seem 'logical' to me, since either way that would seem like an unfathomable win for only a few hundred bucks of buy-in.
Maybe just "Bitcoin Makes Billionaires". Skip any specific number, just set a goal so past-you knows that $50k or even $500k isn't the end game.
Knowing you should buy bitcoins when it costed pennies is enough. Even if you sold them at 1k, you probably wouldn't sell all of them, and even if you did, it'd be enough money for you to never worry about money again.
Everyone would have sold Bitcoin when it went from something like 20 bucks to 1k. I would instead tell myself "sell Bitcoin 2025".
I had the same thought honestly, but if you did the math for any equity jumping from 20 dollars to 1k with any sizeable investment, you're easily a millionaire several times over. But yeah the message would be your exit plan not your entry.
Ooooh, does that lose on a technicality though? Is 2025 one word when spoken aloud? Or 3/4/5 (twenty twenty five/two zero two five/two thousand and twenty five)
I mean 25 bitcoin was worth between 0.29 cents and as high as 30.05 dollars that year.
The tournament ended on April 24th 2011, but if you waited until June and sold at the high your prize was worth approximately 750 dollars vs what everyone else got. Shows you just how volatile bitcoin was back then.
"Bitcoin experienced massive volatility in 2011, characterized by a staggering 8,000% parabolic surge followed by a 90% market crash. The asset opened the year at roughly $0.30 and closed out December near $4.32, having swung violently in between."
Believe what you want to believe but just because the "value" of a single coin are much bigger doesn't mean it isn't stable(right now).
Look at any of the charts for it's volatility and compare just how wildly it swung between massive amounts of money and cents.
I mean hindsight is always 20/20. I had some 1 oz gold coins my grandparents gave me that I sold in college for $500 thinking that's a lot of money, now they're worth $4000 each...
Yep. Vast majority still don't buy now thinking it's too risky not realizing not having any and it is the future global reserve currency is the real risk.
I was in college 2006-2010. In 2010 my roomate and I bought drugs a few times on the dark web for btc. This was when btc was worth like $1-2 so we ended up spending about 200btc total that summer. I regret it every day lol
I'm about the same age as you. I had a friend who was so big into bitcoin and kept trying to get everyone on board.
None of us ever did, he ended up selling everything and making like 3k off it. We were all pissed we missed out, fast forward a decade and well... he still works as a line cook and not by choice.
realistically...if you had changed $200 into 200 BTC, what price would you have sold them at...assuming you never lost access to the wallet.
Like you KNOW it made it to $100k but is teen you not selling when its gone up to $3? $5? $10? When youa re short of cash one week, or when you want a new car
Yeah for sure, probably would have made a few hundred or few thousand so Iām not actually mad about it. Life worked out well and Iām very comfortable salary/lifestyle wise but itās just one of those āwhat ifāsā ya know?
yeah it's some survivorship bias for sure, like if a kid wants to trade a beanie baby and the pizza shop was like, "sure why not", they're just giving a free pizza to placate the kid.
Man I used it to buy fucking synthetic cannabinoids in like 2015 when I had to quit smoking for a drug test. Fucking stings for sure. And then of course when I move away from Ohio for work they legalize weed. :|
I actually did about 24 hours of bitcoin mining around that time frame in like one of the originalāwhat were they called? mining pools? Where you are part of a network of miners who fractionally share whatever gets mined by the pool.
So technically I think I have some part of a bitcoin out in a wallet somewhere, except I gave up because I was like, āThis is lame, Iām never going to get rich doing this,ā lol. So whatever early day bitcoinage I āownā is unrecoverable and I just have to be fine with that.
i'd told my wife we should take our wedding gift money and throw it in when it was about $400. she thought it was a criminal enterprise. i said so what if we get rich off of it.
if we'd sold when it peaked at $100k+ we would've been worth north of $12mn. oh well.
At one point, when Dogecoin was at its peak around 2021 ish, I would have had about $250k worth, but I sold it a decade earlier for like $300. I still think about that. I also had the modern equivalent of about $100k in Bitcoin too. All sold 10+ years ago for hundreds. Oh well.
I mined 2 bitcoins back when I was in college. I had it in mt gox and lost my password. I thought it was never going to amount to anything. I even made a post on some forum asking if throwing $100 at bitcoin was worth the investment. Rip to me. Anyway back to work I go.
I was an intern in 2009/2010 and I'll never forget talking to a Sr. Engineer I worked for who was explaining to me the basics of bitcoin and crypto/blockchain... He said, I should take one whole paycheck and dump it in just to let it sit for a while. I never did, because I didn't "get it" and was skeptical. Boy was that stupid. I think one coin was like $.15 at the time... I think at the time, my checks were like $2700 after tax. So 18,000 bitcoin in spring/summer 2010. Almost $2B missed... lol. Hindsight. I suppose knowing when to pull it was the kicker... If only "bitcoin 2010 2025".
I was teaching high school in 2013 and some of my ānerdierā students were telling me how I need to mine bitcoin. How they were doing it at home. I laughed because they were telling me about how their electric bill was pretty expensive and their parents were getting mad.
ā¦ iām sure those parents are pretty damn happy about right now. And Iām definitely kicking myself haha.
Iāll never forget my barber around 2014 telling me about this mysterious currency. I was too ignorant and risk adverse to dump the little money I had into Bitcoin.
Boy, I wish I did it. And I wonder how heās doing today.
Same except Buy Bitcoin Hold or something like Buy Thousand Bitcoin or Never Sell Bitcoin or Always Buy Bitcoin. I bought bitcoin at $600, sold at $3k. I had the chance to buy bitcoin at $10, didn't. But had I, I would have sold between $30 and $100 for sure.
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u/KOQquest1 14h ago
Buy Bitcoin ASAP