Obligatory "I should have bought some" post.

P

PaulStandsTall

Member
Joined
Nov 6, 2011
Messages
252
Learned about Bitcoin here at RPF in 2011 when it was $7. Didn't buy any.
Saw a TV episode (The Good Wife) about cryptocurrency in Jan 2012 when it was about $10. Didn't buy any.

I am kicking myself for not getting any. Both for it's appreciation in value, and as a way to support fellow liberty loving people.

First OKCupid, Baidu, who is next? With the ease of adoption thanks to new bitcoin companies springing up, (and some with significant VC funding) to say that it's done growing is a nonstarter.

Needless to say I'm definitely buying some as soon as my Coinbase account links with my bank.
 
Ya I wanted to buy back when it was $7 as well.. ended up getting in when it was $70.. Would have been really nice to be sitting on 10 or 20 or more for very little original investment.
 
Instead of buying direct, I bought mining equipment in 2012. It was a mistake. I've done okay with mining but not nearly as well had I just bought in directly around $10.

Buying btc direct will always get you more coin than buying mining equipment for the same value. Especially with today's crazy difficulty increases. The difficulty is running away from everyone. This November/December/January is going to be a bloodbath of complaints by people who bought overpriced mining equipment.

Buying mining equipment in 2013 and 2014 is an even bigger mistake. Get your refunds if you can and buy direct.
 
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I have a small asic miner sitting here working its heart out, every day the pool minimum payoff amount is further and futher away as so much equipment is added. With 1 and 2 Thash machines coming out for only a few grand it makes the arm race incredibly hard to keep up with.

I did mine all my coins over the past few years, I had some equipment issues and personal issues and for 2 months my equipment was only doing half of what it could. At the time I was missing about 1 btc a day. I didn't think it was that big a deal to send someone to fix it for me. Oops
 
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Paladin69 said:
Instead of buying direct, I bought mining equipment in 2012. It was a mistake. I've done okay with mining but not nearly as well had I just bought in directly around $10.

Buying btc direct will always get you more coin than buying mining equipment for the same value. Especially with today's crazy difficulty increases. The difficulty is running away from everyone. This November/December/January is going to be a bloodbath of complaints by people who bought overpriced mining equipment.

Buying mining equipment in 2013 and 2014 is an even bigger mistake. Get your refunds if you can and buy direct.
Click to expand...


It is only a mistake if the price were to stay where it's at now, around $200. Mark Zuckerburg would only have to spend 7% of his net worth to buy all the bitcoins ever created. It just goes to show you how small the market is, and how large the upside can be if large investors start to see it not as a currency, but as a store of value. Think of the surge in exchange rates if those guys decide to invest, it'd be huge.

Your mining equipment would definitely be worth operating if something like that occurs.
 
I don't mind not having bought any, just as I didn't mind not buying a house in 2005 when everybody and their brother and fifty of their cousins was telling me I was tossing away free money.
 
PaulStandsTall said:
It is only a mistake if the price were to stay where it's at now, around $200. Mark Zuckerburg would only have to spend 7% of his net worth to buy all the bitcoins ever created. It just goes to show you how small the market is, and how large the upside can be if large investors start to see it not as a currency, but as a store of value. Think of the surge in exchange rates if those guys decide to invest, it'd be huge.

Your mining equipment would definitely be worth operating if something like that occurs.
Click to expand...

If you believe the price is going to be much higher in the future, then I guess what I'm saying is you'll get far more for your money using $5K to buy btc directly at these lower prices than to buy a knc Jupiter. The 5K batch doesn't ship until late November/December if you were at the back of the line now. A Jupiter will probably only make 0.2 btc per day by then (diff 1.39b), next estimate for nov 6th is 480-500m.

Having more than 21 btc is a good position to buy with cash. You may want to wait for a correction, I dunno. But with 21 btc (25 btc right now for $5K), you would own one-millionth of the global bitcoin economy going forward that would ever be created. 1/500,000th at the current cap.

If you could own one-millionth of all the economies in the world combined you'd be a happy camper.

The poor kids are already talking about hoarding mBTC (1,000 = 1 btc).
 
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Norwegian dude wrote a paper on encryption for school in 2009. As part of his paper he bought 5000 btc in 2009. He completely forgot about them until earlier this year when he realized he still had some. He found the file and eventually found his old password. To make a long story short, he bought a fancy apartment in Norway recently.
 
I read about it here in 2011, and looked into mining shortly after but dismissed it. I remember the calculators saying that I'd only make a few bitcoins per week with my video card. Only a few per week!!!

This year I came to my senses and bought in around $70-$110, but I try not to think about how many coins I could have amassed by now.
 
american.swan said:
Norwegian dude wrote a paper on encryption for school in 2009. As part of his paper he bought 5000 btc in 2009. He completely forgot about them until earlier this year when he realized he still had some. He found the file and eventually found his old password. To make a long story short, he bought a fancy apartment in Norway recently.
Click to expand...

Yes, interesting story, it was posted here the other day.
 
Also wish I would have bought in a couple years ago when I first saw BTC here on the forums. Just started buying about a month ago. Don't want to look back and kick myself again in 5 years when its 1000 or who knows. The potential is unbelievable, considering that most people still have no idea what it is.
 
PaulStandsTall said:
Learned about Bitcoin here at RPF in 2011 when it was $7. Didn't buy any.
Saw a TV episode (The Good Wife) about cryptocurrency in Jan 2012 when it was about $10. Didn't buy any.

I am kicking myself for not getting any. Both for it's appreciation in value, and as a way to support fellow liberty loving people.

First OKCupid, Baidu, who is next? With the ease of adoption thanks to new bitcoin companies springing up, (and some with significant VC funding) to say that it's done growing is a nonstarter.

Needless to say I'm definitely buying some as soon as my Coinbase account links with my bank.
Click to expand...

I would have bought some lower than that if I could do anything with it.
 
I am mining LTC and exchanging them for BTC, working pretty well for me, I should be breaking even in 2-3 months. After that its all profit I guess.
 
FSP-Rebel said:
Bless their little hearts!
Click to expand...

Owning 2.1 BTC should be everyones goal for those who are just getting involved. Just imagine if the world only had to $21m to share among the global population. I would love owning a few whole integers of that just for myself.

2.1 BTC = 1 piece of the total economy out of 10m
4.2 BTC = 1 piece of the total economy out of 5m

I think 1 BTC could make people feel like scrooge mcduck when they see high priced items denominated in mBTC & uBTC.

Something everyone should think about.
 
contemplating taking a loss on some silver in order to make possibly much more on btc. not sure
 
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