Not one person I've discussed bitcoin over the years bought any...

[JackRab]

I bought it in 2011, and I sold for a substantial gain not long after.
My position would be worth around 88 million at today's prices.

Worst trade I ever made.

Hindsight is a wonderful thing

 

[DeltaRisk]

Hindsight is a wonderful thing

20/20 in my nightmares.
https://en.m.wikipedia.org/wiki/Schadenfreude

Funny thing is, I didn't even need the money. I just thought it'd be better to lock in gains instead of leaving it in this crazy experiment.

 

[doggyfx]

Hmmm. How would this rhetorical scenario affect the value of bitcoin?

There's a crazy car dealer out there who sells a $20,000USD car to someone, and says "I will sell you this car for 1 bitcoin".

Does that then mean that 1 bitcoin is then worth $20,000USD? Would that cause the price of bitcoin to spike to high-heaven?

Its a massive crowd delusion, quite obvious. When everybody talks there is a moon eating the soon (2K-3K years ago) its quite compelling to resist this view, huh.

Crowd psychology never changes.

 

[SunTrader]

The crowd hesitates. And hesitates some more. Again and again. Market goes higher and higher all the while the crowd says it can't.

Then .... the crowd jumps in right before it tops out.

 

[doggyfx]

The crowd hesitates. And hesitates some more. Again and again. Market goes higher and higher all the while the crowd says it can't.

Then .... the crowd jumps in right before it tops out.

Same as newbie traders, but sure it helpful for those who jumped at the start and now sees the growth fueled with future losers.