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’.
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’.