$50K invested in 2009 = $10B in 2014

Quote from DeltaSpread:

I was just reading an article about the chap who bought $26 worth of bitcoin in 2009 and completely forgot about his virtual wallet. A few months ago, it was worth nearly $900K.

So for entertainment purposes I calculated what a $50K investment would look like. Kind of blows away MSFT, DELL, YHOO, AMZN, GOOG, AAPL etc. even for those who bought on day 1 IPO.

For those who traded high beta nasdaq tech stocks in the 1990's. Have we arrived yet to year"1999" for BTC or are we in 1995 or 1996?
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cool story but only way people will hold till now if bought <$1 is if they forgot about it like this guy.

No sane person would hold this lottery ticket(back then it was just that..a lottery ticket) and not cash in when btc went from $1 to $10 then $100 then $1000.

Just not human nature no matter what you say how disciplined you are.

There is a reason there arent so many bitcoin millionaries after the thing went up 1000X in ~3 years.
 
Quote from peilthetraveler:

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I don't blame you though for thinking its tulip mania....on the surface it does look like that and/or a ponzi scheme. I was even convinced it was 6 months ago before I read more into it.
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I still say, "hogwash", "fools gold". The entire rationale for "bitcoin as a currency" is illogical to any thinking person.

There is little behind bitcoin other than the exuberance of some ignorant, hopeful speculators willing to pay up "just because the price is rising" and they don't want to miss out.

We'll see.

Your prior posts suggest you smarter than to get sucked-into the bitcoin irrationality.
 
Quote from peilthetraveler:

What is happening is you are witnessing history in the making. One day, all over the world you will see stickers in store windows that say "Visa, Mastercard, Amex, and Bitcoin accepted" Most of the world still doesnt even know what bitcoin is. Bitcoin is going to make alot of people billionaires and quite possibly one person the first trillionaire. This is so much bigger than most people can imagine. This is a one world currency and there will never be another opportunity like this ever again for the average person to buy in now and make astronomical returns.
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WOW. You are super bullish to say the least. You should change your handle to Mr. Bitcoin.

How much did you invest in Bitcoin and how much is it worth now?
 
Quote from Clubber Lang:

WOW. You are super bullish to say the least. You should change your handle to Mr. Bitcoin.

How much did you invest in Bitcoin and how much is it worth now?
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Here is my wallet address...take a look for yourself. :P

1FfmbHfnpaZjKFvyi1okTjJJusN455paPH
 
I've been hearing all of these success stories of people making large sums of money from bitcoin trades, but has anyone actually cashed out their earnings? I'm curious to see if liquidity is available.
 
Quote from peilthetraveler:

Tulip bulb like events last only over a very short period. Bitcoin has been continuously going up in value for 5 years.

In fact the reason the tulips originally went up so much in value was because the dutch created a futures market that year where people only had to put up 2.5% of the price of the tulips.

There is no such leverage with bitcoin...its all cash. In fact if you try to buy bitcoin, you will find it next to impossible to even buy it with a credit card. There is no forced selling like what happens with leveraged instruments. Sure the price is volatile because there is not much liquidity in the bitcoin markets. Only about $20-$100 million per day trades hands on the exchanges in bitcoin.

When there is massive selling and the price drops 50%, you can see from past experience that people start buying bitcoin back up again.

I don't blame you though for thinking its tulip mania....on the surface it does look like that and/or a ponzi scheme. I was even convinced it was 6 months ago before I read more into it.
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the tulip bubble lasted 20 years
 
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