I really raelly really really regret not having like self confidence in my decisionmaking when I was 18 because I had a bunch of money as a graduation gift and I literally wanted to dump all of it into bitcoin when it was worth fractions of a penny but instead of just doing that I asked everybody I knew "do you think this is a good idea" but everybody told me to buy a guitar instead
now I have a guitar I don't play
if spent the guitar money on bitcoin it would have been so many bitcoins that at peak value I would be like Rockefeller rich, minus whatever sold before that point :yea: \
but hey in this timeline I'm a sexy himbo communist instead of a libertarian coinlord so that's a plus, I tell myself as I barely scrape by
I don't gamble, as a rule, because this narrative is so tempting. In hindsight, having seen how everything played out, I think "Damn, why didn't I buy some bitcoin back when all my friends were talking about it?" A lot of them cashed out a few thousand dollars years ago.
But then I think about all the other schemes and scams that didn't pan out, all the people who lost their life savings and their homes and their kid's college funds and any other asset they had, the people made destitute, and I remind myself that the house always wins in the end.
If you're going to gamble never gamble more than you can afford to lose, and preferably do it with someone else's money.
I knew it would end up like this though, or like, I saw which way it was gonna go. It was so obvious. But i literally could not make a decision on anything without the input of others at this point in my life :bawllin-sad:
If I ever get transported back in time to a pre-bitcoin version of myself I've long decided that I'd buy a bunch of Bitcoin, cash out at peak with that handy dandy hindsight (does it become foresight if the thing you saw in hindsight are no longer in the past??) and use the resulting money to fund communist movements globally
i got a very nice flamenco guitar after my teacher said "don't get a flamenco guitar" but then he said it was a very nice guitar for classical stuff too :soviet-huff:
I said back in like 2010-2011 Bitcoin would be like a pyramid scheme in which the first ones in would be the ones who profit, although my reasoning was that Bitcoin was designed to be harder to mine as more of it was mined.
That is/was true but the guys who mined 10000 Bitcoin are now so fabulously wealthy that they've receded from public life entirely. The yappy ones are later adopters.
I saw someone elsewhere make the argument that very few people managed to hold on to their bitcoins from the earliest days. All of the earliest exchanges (like Magic the Gathering Online Exchange) all either collapsed or turned out to be scams, so you'd basically need to be prescient enough to keep them on a hard drive for years and hope you don't lose it. Not many people would've even given bitcoins that much effort, since they weren't worth much.
Most also probably sold them when they were worth like $100 each.
I knew about it way back when too, but fuck having that on my brain for any amount of time. I never would have believed it got as big as it is today, and probably would have sold them for at like $7-800 at the 2014 peak and been done. I probably would have bought in at like $80-100, so it wouldn't have even been that much money.
If I somehow still had them when they were in the $30-60k range, I would be tortured by the fucking price graphs day in and day out, I really don't need that.
I have friends who made a few thousand dollars on it, but they all mined their own coins really early on bc they're tech nerds and thought it was a neat idea, then sold when it seemed like it was as high as it would get (it was not). But they all recognize that they got lucky compared to the countless people who bought in and lost, or worse went all in and got wiped out.
bitcoin
I really raelly really really regret not having like self confidence in my decisionmaking when I was 18 because I had a bunch of money as a graduation gift and I literally wanted to dump all of it into bitcoin when it was worth fractions of a penny but instead of just doing that I asked everybody I knew "do you think this is a good idea" but everybody told me to buy a guitar instead
now I have a guitar I don't play
if spent the guitar money on bitcoin it would have been so many bitcoins that at peak value I would be like Rockefeller rich, minus whatever sold before that point :yea: \
but hey in this timeline I'm a sexy himbo communist instead of a libertarian coinlord so that's a plus, I tell myself as I barely scrape by
I don't gamble, as a rule, because this narrative is so tempting. In hindsight, having seen how everything played out, I think "Damn, why didn't I buy some bitcoin back when all my friends were talking about it?" A lot of them cashed out a few thousand dollars years ago.
But then I think about all the other schemes and scams that didn't pan out, all the people who lost their life savings and their homes and their kid's college funds and any other asset they had, the people made destitute, and I remind myself that the house always wins in the end.
If you're going to gamble never gamble more than you can afford to lose, and preferably do it with someone else's money.
you can't view the market in retrospect. You made what was a sensible market decision given the information you had at the time
I knew it would end up like this though, or like, I saw which way it was gonna go. It was so obvious. But i literally could not make a decision on anything without the input of others at this point in my life :bawllin-sad:
If I ever get transported back in time to a pre-bitcoin version of myself I've long decided that I'd buy a bunch of Bitcoin, cash out at peak with that handy dandy hindsight (does it become foresight if the thing you saw in hindsight are no longer in the past??) and use the resulting money to fund communist movements globally
I remember thinking the Black Lotus was overpriced at $400.
i got a very nice flamenco guitar after my teacher said "don't get a flamenco guitar" but then he said it was a very nice guitar for classical stuff too :soviet-huff:
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that is true but also being involved in bitcoin is spiritually corrosive and just makes you insufferable to be around
for what should it profit a man if he gains the world but starts talking about blockchain at social functions
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I said back in like 2010-2011 Bitcoin would be like a pyramid scheme in which the first ones in would be the ones who profit, although my reasoning was that Bitcoin was designed to be harder to mine as more of it was mined.
That is/was true but the guys who mined 10000 Bitcoin are now so fabulously wealthy that they've receded from public life entirely. The yappy ones are later adopters.
That's about when I first learned of them. They were 10c/coin. I often wonder where I'd be today had I bought 10
I saw someone elsewhere make the argument that very few people managed to hold on to their bitcoins from the earliest days. All of the earliest exchanges (like Magic the Gathering Online Exchange) all either collapsed or turned out to be scams, so you'd basically need to be prescient enough to keep them on a hard drive for years and hope you don't lose it. Not many people would've even given bitcoins that much effort, since they weren't worth much.
Most also probably sold them when they were worth like $100 each.
I knew about it way back when too, but fuck having that on my brain for any amount of time. I never would have believed it got as big as it is today, and probably would have sold them for at like $7-800 at the 2014 peak and been done. I probably would have bought in at like $80-100, so it wouldn't have even been that much money.
If I somehow still had them when they were in the $30-60k range, I would be tortured by the fucking price graphs day in and day out, I really don't need that.
I have friends who made a few thousand dollars on it, but they all mined their own coins really early on bc they're tech nerds and thought it was a neat idea, then sold when it seemed like it was as high as it would get (it was not). But they all recognize that they got lucky compared to the countless people who bought in and lost, or worse went all in and got wiped out.
Yeah, knowing what I was like during this period, I'd probably have used it all to buy drugs on silkroad.