If You Had Bought Crypto – How rich would you be if you invested in Crypto?

Re:If You Had Bought Crypto – How rich would you be if you i... by justboxing on Tuesday December 19, 2017 @02:01PM (#15962981)

Beautiful site, nicely done.

I do personally know a lot of people in San Francisco who had bought bitcoins when it was fractions of pennies. Some lost all of it in the MT GOX hack / bankruptcy, and most others sold what they had off after that incident.

Just 1 guy, my boxing trainer, held on to the bitcoin 1 of my friends paid him with, for Personal Training. In his case also it was about 300$ worth of bitcoin paid to him in 2013, and it was more like he forgot he even had it, and then all of a sudden, last month, he realized it was now worth 20,000-ish and sold it all off and 'invested' it back into Litecoin and Etherium. 2 days after he bought Litecoin, Coinbase froze all trading of Litecoin on their platform.

The funny thing about this is that the friend who paid my trainer worked for a Bitcoin startup and had 1000s of bitcoins. He sold it all off in 2015. Didn't even keep 1 coin. If he had held on to it, he'd have had about 20 million USD worth of bitcoin today.

So the site should really be https://ifyouhadboughtcryptoandarestillholdingontoit.com :)

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Re:If You Had Bought Crypto – How rich would you be if you i... by AJ007 on Tuesday December 19, 2017 @02:44PM (#15963486)

I offered to pay my contractors in bitcoin years ago and no one was interested.

I told my friends they should by it, no one did, until this year. Some of them managed to do brilliant things like actively buy and sell yet not make a penny. This is like Howard Marks describing day trading as making $3 when the price went up $30.

While I'm optimistic about Bitcoin, no one can defend the value of barely functional, abandoned, and centralized altcoins. This is completely out of control. It is a commodities trading video game where the underlying assets are completely imaginary. The bad altcoins will be worth absolutely nothing at the end, much like the dot com bubble. The real estate bubble was kinder, sans leverage.

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Re:If You Had Bought Crypto – How rich would you be if you i... by justboxing on Tuesday December 19, 2017 @03:08PM (#15963734)

Wow, interesting story. Speaking of altcoins, what are your thoughts on Ripple? It seems promising to me in that nearly a 100 banks are using their BlockChain technology to process cross border payments and cut fees and transfer time (down to seconds from days).

At the same time, I'm wary of investing in altcoins, after reading a whole bunch of scams that people have perpetrated online in this space.

Also, is Ripple ( XRP ) considered an altcoin in the first place??

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Re:If You Had Bought Crypto – How rich would you be if you i... by letsjaam on Tuesday December 19, 2017 @02:44PM (#15963487)

Thanks for the comment. Maybe we'll snap up that domain too...

The site was born out of years of talking about investing in Bitcoin and a failed attempt at mining them in late 2013. All the 'what-ifs'.

Hopefully people who didn't invest and those that mined early and got out can have a little laugh (or cry) inside. It's just a bit of fun.

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