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

ifyouhadboughtcrypto.com

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

#31

Post by ucha »

etr-strike wrote: post #21
ucha wrote: post #16

Earlier quoted context omitted.

To put it in perspective, the daily volume in BTC is a few 100,000s. 5-600'000 BTC is $10B. Sure the Winklevoss twins can't liquidate their entire holding in a week but if you only have a few million dollars worth of bitcoin, you can liquidate in a few days without moving the price significantly. The other major crypto-currencies are more or less liquid in proportion to their market cap.

Not sure what you’re measuring... gdax alone averages around 25k btc traded per day. At today’s price that’s 450mil usd

Thanks, I mistakenly wrote million instead of billion. Edited.

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

#32

Post by profalseidol »

jacquesm wrote: post #5

There is a common misconception amongst people holding stocks, crypto coins and other investments: that they equate to cash. You would not be rich if you had invested in Crypto, you would be rich if you had invested in crypto and had successfully liquidated your position. That second bit is the hard part when you have a large volume of something since the liquidation tends to depress the price. And in the world of Bi…

> Which makes me wonder how much the largest successful one-shot liquidation anybody on HN has ever done and how they did it?

Could be that one sale that flash crashed Coinbase' ETH/USD market. One big sale caused lots of margin positions to close; which spiraled ETH's price from ~350USD to 13USD. Went backup immediately tho.

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

#33

Post by rhinoceraptor »

jacquesm wrote: post #5

There is a common misconception amongst people holding stocks, crypto coins and other investments: that they equate to cash. You would not be rich if you had invested in Crypto, you would be rich if you had invested in crypto and had successfully liquidated your position. That second bit is the hard part when you have a large volume of something since the liquidation tends to depress the price. And in the world of Bi…

Also, you might have gotten out at any of the previous all time high prices, such as four years ago when everyone though $1000 was absolutely ridiculous and that was as high as it would ever get.

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

#34

Post by justboxing »

AJ007 wrote: post #29
justboxing wrote: post #6

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 t…

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, aband…

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??

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

#36

Post by paloaltokid »

letsjaam wrote: post #17
paloaltokid wrote: post #3

This is fun but also pointless. There’s no guarantee you would have made any money. And the model assumes that you’d buy and hold this whole time. So if you’re looking at this and beating yourself up...don’t.

As the developer I couldn't agree more - it's pointless... but hopefully a little bit of fun along the way. Isn't that what the internet is for?

Totally! I’m not knocking the site itself which I think is super cool. But these “what if” games are very dangerous.

There’s a term in economics for it...when you think you’ve lost something that you never even had.

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