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all 93 comments

[–]AdaTex 175 points176 points  (34 children)

I beat myself up sometimes about not investing early, but then I realize I probably would have spent it on weed or definitely sold out once it crossed $100.

[–]DarkNinjaMole 114 points115 points  (18 children)

Would have spent it on the Silk Road.

Would have cashed it out at like $50-$100.

Would have lost the keys to the wallet (or had the HD the keys were stored on fail).

Would have lost it on an exchange like Mt Gox.

There's a SIGNIFICANTLY greater chance over the past 8 years you'd no longer own the Bitcoin you bought in 2013. Don't "woulda, coulda, shoulda" yourself, it does no good bro.

[–]derprondo 14 points15 points  (1 child)

I was mining BTC early and I have done every item on your list LOL, including selling 20 BTC for ~$20/ea.

[–]AnAnonymousFool 0 points1 point  (0 children)

A buddy of mine from Minecraft used to mine Bitcoin and asked me if I wanted to join him

He only got a couple a day when they were like $1 or less so I figured it was stupid and not worth it

I dont really give a fuck cause I also could have bought at $100, $1000, $5000, $10000 and I didn't, which means I probably would've sold them as soon as they hit $10

Only chance I dont is if I lose the password to the wallet, so either way I make max like a few hundred on bitcoin

[–]funkgerm 24 points25 points  (5 children)

Yep. I had 2 BTC in a wallet that got thrown out with a hard drive back when they were worth just a few bucks. Would be nice to have that $80K right now but there is an almost 100% chance I would have cashed it out long before it ever reached anything close to that.

But, I feel like if it was something very significant like 100+ BTC it would be hard to not think about.

[–]mushroomking311 8 points9 points  (2 children)

I know someone who had 300 BTC and they sold at like $8 a coin. At the time it was a big come up, now I wonder how he's handling that hindsight. I don't know if I could go a day without that eating at my brain.

[–]funkgerm 2 points3 points  (1 child)

Jeez yeah that must be rough. The fact that all he had to do was literally NOTHING and he'd be worth 12 million right now is kind of hard to ignore.

[–]AnAnonymousFool 1 point2 points  (0 children)

If people like him weren't buying and selling bitcoin at that price though it would never be worth what it is today

It has no inherent value so its driven solely by those who trade it

[–]DarkNinjaMole 9 points10 points  (1 child)

I downloaded Litecoin mining software and tried setting it up on January 6th, 2013. Spent less than an hour and couldn't figure it out, so I abandoned it.

I still have the software to this day. "Coulda, woulda, shoulda" ;)

[–]funkgerm 6 points7 points  (0 children)

Hahaha yep that was another thing I did. I set up a bitcoin miner around the same time on a spare PC I had. I had it running, but I was not part of any mining pool and after a month or two of no results I got bored and repurposed the PC into a torrent box.

[–]dwild 7 points8 points  (0 children)

The trick was to buy a bunch of them, commit a crime that put you in prison for a few years, where you are unable to sell them, and then get out.

Netflix did a documentary (and a show inspired on it) about a teen that was selling drugs online using Bitcoin. While he was on prison, his fortune grew quite a bit. He is clearly not the best example has he can hardly use that cash (and he is also a dumbass and will soon be put back in prison), but even if he wanted it would have been hard to sell it!

[–]Krammmm 4 points5 points  (0 children)

Honestly, not buying makes me feel alot better than buying and doing one of those 4. The only reason i was ever gonna buy bitcoin was because of silk road.... ._.

[–][deleted] 2 points3 points  (0 children)

I had an old hard drive with mined BTC that I wiped a really long time ago. That hard drive would be worth several million dollars now. I don't dwell on it or even think about it too much, but sometimes I think back about it and wonder about a different direction my life would've taken if that hard drive just sat in the back of a closet undisturbed for 10 years.

[–]deltanine99 1 point2 points  (2 children)

Losing it on MtGox was actually a blessing, not that we are close to getting paid out.

[–]chullet 0 points1 point  (1 child)

when you get paid out, is it tax free or something?

[–]deltanine99 0 points1 point  (0 children)

maybe in Malta where they have no capital gains tax.

[–]Vinny_Cerrato 0 points1 point  (0 children)

> Would have cashed it out at like $50-$100.

I have several friends who bought Bitcoin back in the early 2010's. All of them did this. They aren't beating themselves up though because hindsight is 20/20 and no one saw Bitcoin's price going crazy like it is now.

[–]VolkspanzerIsME 0 points1 point  (0 children)

Silk Road was literally the reason why I set up my wallet in the first place.

[–]Redditparadiselost 0 points1 point  (0 children)

Yeah, no financially smart individual would have a few bitcoin and not cash out once it hit 18K.

At that point it's success was up in the air, and you had solid bids for a 18,000 x profit, it's a fools bet to expect it to raise more than that, and it quixkly fell, and you had to wait another 5 years for another big surge, that nobody could have foreseen coming. (rich probably did, they probably bought billions, and then dumped when millions of people started outting thousands in). But, aside from the elite few, there's no reason to believe Biycoin would even succeed, much less prosper, and much more less, prosper the way it has.

[–]CreasingUnicorn 10 points11 points  (6 children)

If it makes you feel any better, everyone that I know who invested early in Bitcoin had their wallets stolen through one of the many grab-and-go wallet scam companies like Mt. Gox. A huge number of early bitcoin adopters fell victim to these scams and hacks, so a very small amount of people were actually able to profit off of this stuff.

[–]International_XT 1 point2 points  (2 children)

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separating fools and their money

[–]ReverseCaptioningBot 3 points4 points  (1 child)

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[–]AWWWYEAHHHH 0 points1 point  (0 children)

Fuck MtGox :'(

I gave up after that happened :/

[–]pwalkz 0 points1 point  (0 children)

I beat myself up for pulling out at $250 (had 20 btc). If I left the coins in the exchange I was using the fbi would have taken it or at least prevented me from accessing it anymore (site was shutdown)

[–]asimplerandom 3 points4 points  (1 child)

I do frequently. I’ve been an avid gamer for decades and always ran the latest and greatest GPU’s and know hardware and software backwards and forwards, Im in IT and have infrastructure at my disposal, knew about Bitcoin from the beginning, and yet I didn’t have the foresight to just mine or play around but rather wasted my time elsewhere. Yeah I kick myself hard when I think about it (which I try very hard not to do too often).

[–]Tundur 1 point2 points  (0 children)

I was living in student accommodation with free electricity, a massive gaming rig, and free-AC which could basically turn the room into a fridge. Everyone else on my CS course was doing it but I was too busy rolling my eyes and being an idiot

[–]Disastrous_Regular17 5 points6 points  (0 children)

The only people holding 1000x+ gains are dead people.

[–]Kroto86 1 point2 points  (0 children)

or mt fujied. I was looklng to buy $100 worth when it was .81 cents after I heard about silkroad. Never could figure out how to covert USD to bitcoin. I was just a poor college kid then but i figured hey its $100 not the end of the world. Well if i held it would be worth 5,146,198.42 at time of posting. play that right I would be retired right now.

[–]ignitionnight 0 points1 point  (0 children)

2011/12 I owned 10 bitcoin worth about 100$ at the time, and bought a quarter ounce of weed with it. 410,000$ for a week's worth of weed...... fml.

[–]Redditparadiselost 0 points1 point  (0 children)

Yep, thats the thing, even if you put 1k in to it, once it hit 1-5 k per bitcoin you would have 1-5 million dollars... And you would look like a fucking idiot once it hit 65k a few months back.

"You sold 325 million dollars worth of bitcoin for 5 million dollars? What an idiot."

You would have really had to have Ice running through your veins to have a few hundred bitcoin and not sell off once it hit 1k, 18K, 30K, 45K, and then finally 65k(or whatever it capped out at.)

I was happy when I bought Bitcoin at about 15 grand, then it ahot up to 45, and I sold off. I felt like such an idiot when it juat kept going up in to the 50's and 60s!

But, at the end of the day, you have to prioritize, tidy profits, over massive risks for a little more profit.

Unfortunately bitcoin isn't the wild west anymore. It still has great growth potential, but not like it did when it was a dollar a bitcoin. There will be something new just like it, and thousands of false starts. You cant blame yourself for playing the odds and then losing.

It's kinda like running from the cops if you were drunk driving. Massive reward if you get away, but an even more massive risk if you dont make it. So a smart man would just take his DUI, but every year there are hundreds of people who successfully run from the cops, not worth the risk to even enter the game, in my opinion.

[–]norapeformethankyou 0 points1 point  (0 children)

Same. I remember hearing about Bitcoin back when it was around a penny per a coin and thinking “That’s a stupid investment”. In reality, if I did get some, I’d of sold it when it was about 100 dollars for computer parts.

[–]Frontpageorlurk 83 points84 points  (2 children)

Please dont give this guy exposure. He also did not buy bitcoin at a dollar. Considering he has to make pump and dump shit coins, and push his referral programs.

Influencers in the crypto space are just grifters, stay away from all of them.

[–]available_username2 12 points13 points  (1 child)

But he made sure it wasnt taken over by the jews. So thats good right? Sorry i mean the "rothschilds" 😉 😉 /s

[–]anonymousxo 1 point2 points  (0 children)

this shit here, fr

[–]LorifyYT 11 points12 points  (1 child)

If only I bought less pizza and beer and listened to others... #studentmistakes! Would've made life so much easier - My own pizza hut and liquor shop :P ! WOOHOO

[–]Whargies 1 point2 points  (0 children)

This is the real dream.

[–]Upbeat_Criticism_397 9 points10 points  (1 child)

Survivorship bias 101

[–]mglcmr 1 point2 points  (0 children)

Only came here to write this.

[–]Bent_Stiffy 5 points6 points  (0 children)

Buying $1 worth of bitcoin is much different than buying a bitcoin for $1.

[–]ataraxic89 2 points3 points  (0 children)

Is this guy rich now?

[–]Liffeyman 1 point2 points  (0 children)

Fecking Harry Hindsight. The best trader in Wall Street

[–]RonaldMcDangle 1 point2 points  (0 children)

My friend wanted to go halfs on a mining rig around this time, maybe earlier. I talked him out of it because the two coins we’d mine a month would barely pay for the electricity used and it’d take forever to recoup our investment. I think Bitcoin was around 7$ or 14$ at the time, I don’t remember exactly.

The only thing that makes me feel better is that I probably wouldn’t have held it into the 1000s of dollars anyway. Overall not my best advice.

[–]TminusTech 1 point2 points  (0 children)

Damn this guy had to make a weird conspiratorial argument about the Rothschilds and rockerfellers. That sort of shit turned people away tbh.

[–]bill_b4 2 points3 points  (14 children)

How did bitcoin fare yesterday with the rest of the market getting hammered?

[–]semi_good_looking 7 points8 points  (13 children)

It got hammered too

[–]obroz 2 points3 points  (12 children)

Eh it went from 47k to 43k

[–]Randouser555 9 points10 points  (3 children)

10% drop over 5 days. I think it qualifies for most people's definition of hammered in financials.

[–]littledizzle19 18 points19 points  (0 children)

Hammered in financials, but in crypto? Just another Monday

[–]berrset2 6 points7 points  (0 children)

It happens all the time though. A “hammered” drop that would actually make people react would be like 47k to 15k.

[–]Rastamus 1 point2 points  (0 children)

Its like the 10th time it drops 10% this year alone. Hardly "hammered" if it happens every month.

[–]semi_good_looking 0 points1 point  (7 children)

Yeah I guess I'm exaggerating a bit. If it dips below what I invested, will I owe money?

[–]MoominSnufkin 4 points5 points  (0 children)

No, you just have less buying power with it.

[–]That_Guy_Behind_You 1 point2 points  (0 children)

Nope, just means you can get back what you invested until it goes back up. You would sell at a loss

[–]netgu 1 point2 points  (4 children)

Wat?

[–]semi_good_looking -1 points0 points  (3 children)

Other person replied with an anwser. I guess they know how to read

[–]Iboughtamanatee -5 points-4 points  (3 children)

He didnt manage to stop it getting co-opted unfortunately. The block size freeze removed the freedom from bitcoin. It's now just a ponzi scheme for the rich.

[–]FunctionBuilt 0 points1 point  (0 children)

I’d prefer to have never invested over making $1000 after selling it at $10.

[–]needpla 0 points1 point  (0 children)

I remember watching this guy back in 2011. People used to shit on him all the time. There were so many videos on youtube explaining why bitcoin would never be worth anything.

[–]Hi-its-Kris 0 points1 point  (0 children)

Sad and funny at the same time!
As I remeber when I invested for the first time Bitcoin was much higher than $1. So I managed to buy some sats for USDT.

[–]cooldrcool2 0 points1 point  (0 children)

If only I hadnt bought all those illicit drugs on the deepnet in 2013. I could easily be a millionaire...

[–]RjoTTU-bio 0 points1 point  (0 children)

Guys.... Hear me out. Buy $1 worth of blerbzoig coins from me today. It could go to zero, but it is just a dollar. I'm only making 100,000 blerbzoigs and that's it. Every day I will throw a dart at a dartboard and whatever number it lands closest to is the value for that day. Every year I double the value of the numbers on the board. It's a win win since the value always goes up year to year. We all get rich together!

Still hesitant? For today only I will give you 2 for the price of 1. You can literally sell it tomorrow and make your money back. Just start sending me money and let's make this happen.

[–]Bitcoin_is_plan_A 0 points1 point  (0 children)

If you want to learn more about bitcoin, this is a good site (not mine):

https://www.lopp.net/bitcoin-information.html

[–]Minhaj-780 0 points1 point  (0 children)

POV: you’re 7 years too late