I bought at 7k and listened to my family telling me it’s a scam and I’d be the idiot left holding the bag when everyone sold off so I sold at like 15k or something, I don’t remember exactly what. Double, sure, but every time I see that 100k I get so mad for listening to them…
Here’s the thing. Either it is all speculators and someone will be left holding the bag, or it’s a real investment.
Do you believe now that it’s a real investment? If so, then there’s no reason not to buy in now.
If you don’t believe it’s a real investment, and the price could crash at any point and you lose all your money, then it was as true back then as it is today and selling out was the wise thing to do even if in hindsight you could have made a lot more money.
Many people would compromise though, sell half to get their original money back and leave half. Then sell half again when/if it doubles, etc.
Looking at the operating cost of Bitcoin mining (hardware, maintenance, electricity), which is crucial for its network security, I tend to believe it only continues to work, if money enters the game continually.
It looks more like a kind of pyramid scheme than an investment.
But until it fails, people will have the chance to make money with it and tell about it, drawing in new ‘investors’.
Literally the opposite for me…
I bought at 7k and listened to my family telling me it’s a scam and I’d be the idiot left holding the bag when everyone sold off so I sold at like 15k or something, I don’t remember exactly what. Double, sure, but every time I see that 100k I get so mad for listening to them…
Meh, I bought a few t-shirts for 3 bitcoins way back when.
Of course, I never would have held on to them till 100k. I would have sold a dozen times over between 10 euros and 100.000 euros.
You know they say 90% of gamblers quit right before their big win.
Who says that, the casinos? The ones who are actually winning big?
Here’s the thing. Either it is all speculators and someone will be left holding the bag, or it’s a real investment.
Do you believe now that it’s a real investment? If so, then there’s no reason not to buy in now.
If you don’t believe it’s a real investment, and the price could crash at any point and you lose all your money, then it was as true back then as it is today and selling out was the wise thing to do even if in hindsight you could have made a lot more money.
Many people would compromise though, sell half to get their original money back and leave half. Then sell half again when/if it doubles, etc.
Looking at the operating cost of Bitcoin mining (hardware, maintenance, electricity), which is crucial for its network security, I tend to believe it only continues to work, if money enters the game continually.
It looks more like a kind of pyramid scheme than an investment.
But until it fails, people will have the chance to make money with it and tell about it, drawing in new ‘investors’.
I had about $2,000 worth of Bitcoin right when it showed up on Big Bang Theory, which I was convinced would make it crash.
It did not but I had a merry Christmas that year.