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Bitcoin surpasses $50K as major companies jump into crypto

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Re: Bitcoin surpasses $50K as major companies jump into crypto

#51

Post by ur-whale »

kungito wrote: post #42
superbcarrot wrote: post #28

Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?

What helps me sleep at night is that even had I entered all this time ago with BTC I would have exited 100 times by now. There have indeed been many 2x,3x,5x multipliers with BTC but there have been so many instances when it was unclear how everything is going to turn out which would personally prompt me to consider exiting with what I had. As my friend nicely put it: only way we could have gotten rich from BTC is ha…

AKA : no risk, no rewards.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#52

Post by wodenokoto »

superbcarrot wrote: post #28

Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?

When it reached 100, I thought, this is the apex, it is not gonna grow anymore, it is too late to jump on.

And I've repeated that thought on 1.000, 10.000, 20.000 and again now.

So yes, you are not alone in feeling this is a missed opportunity.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#53

Post by mrpopo »

1996 wrote: post #17
seibelj wrote: post #8

Earlier quoted context omitted.

Both nocoiners and coiners are locked into their positions so hard it’s “I’ll go down with the ship” at this point. At least one side gets to be rich though!

I know. I'm retired thanks to crypto. I'm glad I eventually saw how HN was wrong and learned from my mistakes. It did cost me bit of time-opportunity, but there's a point where you have "enough" and it's not worth chasing more money anymore.

> I'm retired thanks to crypto. I'm glad I eventually saw how HN was wrong

I don't understand this argument. Becoming rich doesn't prove you right. A technology becoming popular doesn't make it good.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#54

Post by 1996 »

seibelj wrote: post #25
1996 wrote: post #17

Earlier quoted context omitted.

I know. I'm retired thanks to crypto. I'm glad I eventually saw how HN was wrong and learned from my mistakes. It did cost me bit of time-opportunity, but there's a point where you have "enough" and it's not worth chasing more money anymore.

I considered retiring but it’s too boring so I just keep working in crypto. I’m a workaholic by nature. Not having a boss is great though as it allows me true freedom and the ability to work strange hours.

Same thing here: I don't have to work anymore but I chose to, with a bit of VC on the side. There are many interesting projects, and having full freedom is priceless!

I try to favor project that only take crypto, not fiat, and price their products in crypto. I see that as an indicator of "understanding" the new wave.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#55

Post by pjc50 »

1996 wrote: post #9
eterm wrote: post #3

> many crypto investors to believe the latest bull run is different "This time it's different" isn't an argument I find compelling for why something that is known to have bubbles and manipulation isn't in a bubble.

For 12 years, just bubbles? First it was over 1 cent, then over $1, over $1000, now over $50k.... when will you consider the possibility you may have been wrong? At $100k? At $1M? (which most models indicate as a plausible target price in 10 years) Let me give you my favorite quote, pulled from another HNer comment: "I enjoy reading comments about Bitcoin here because even without any venture backing, it achieved a b…

The value of a valuation may go down as well as up.

https://www.businessinsider.com/wework-valuation-falls-47-bi...

(I don't think WeWork was YC, but it does drive home that achieving a valuation is primarily a reflection of your ability to convince investors to give you money)

Re: Bitcoin surpasses $50K as major companies jump into crypto

#56

Post by GrumpyNl »

1996 wrote: post #9
eterm wrote: post #3

> many crypto investors to believe the latest bull run is different "This time it's different" isn't an argument I find compelling for why something that is known to have bubbles and manipulation isn't in a bubble.

For 12 years, just bubbles? First it was over 1 cent, then over $1, over $1000, now over $50k.... when will you consider the possibility you may have been wrong? At $100k? At $1M? (which most models indicate as a plausible target price in 10 years) Let me give you my favorite quote, pulled from another HNer comment: "I enjoy reading comments about Bitcoin here because even without any venture backing, it achieved a b…

What is payed for bitcoin has nothing to do with the value. When its worth $100k or 1M its just a bigger bubble.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#57

Post by Drakim »

seibelj wrote: post #25
1996 wrote: post #17

Earlier quoted context omitted.

I know. I'm retired thanks to crypto. I'm glad I eventually saw how HN was wrong and learned from my mistakes. It did cost me bit of time-opportunity, but there's a point where you have "enough" and it's not worth chasing more money anymore.

I considered retiring but it’s too boring so I just keep working in crypto. I’m a workaholic by nature. Not having a boss is great though as it allows me true freedom and the ability to work strange hours.

I kick myself over not putting more effort into getting bitcoins when I was first reading up on it. While I don't think I would retire, it would be nice to have the financial security to work on more meaningful but unprofitable projects rather than grinding my daily job.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#58

Post by ilkkao »

superbcarrot wrote: post #28

Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?

It helps to think that odds for not selling during the first peak are quite close to 0%, at least for me. Other outcome would have meant very stressful last years.

Re: Bitcoin surpasses $50K as major companies jump into crypto

#59

Post by pdimitar »

superbcarrot wrote: post #28

Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?

That's exactly how I feel. But is there a way to actually cash out? I mean, suppose you had 2 BTC for years. Can you literally get $100K right now in your bank account and can you actually exchange them easily for the fiat currency?
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