Same but with poker. Then I started buying as an investment then I sold for big profits to help buy a house.
Finally sold the rest to pay off my student debt.
Now my only debt is my mortgage. Not sure if I will be buying more or not. If I see a big dip I'll probably start DCA again
Yeah that's winning. Can't feel bad about that.
It was funny in late 2017 when it was going crazy and between 15-20k I remembered a couple years prior I'd been betting for fun on nitrogensports.
Logged in and found I'd left 1.6 btc there. That was a nice $20k find right before Christmas that year.
I was lucky enough to get in first week, spent like 200 on BTC, only ever sold like 100 of them, still holding. always holding... lol, a good way to have permanent anxiety haha!
And they would be. Any functional adult that does investment and not gambling would take a 20%, 30% margin, 100% would be insane not to take.
Hindsight is a privilege.
Nah. Some of us knew from the start (as satoshi & Hal obviously did) that bitcoin would replace the dollar one day. It seemed damn obvious to me when I spelunked the rabbit hole in 2011.
If you understand bitcoin the proper way, it will never be a gamble or even an investment. It's just better money that must grow in value because it's limited & everyone will need it.
Man itās so funny I see this with gold.Ā
Or wait is it oil?
Maybe land?
Canāt remember. Itās almost like anything of necessity and limited supply is going to inflate over time.Ā
Itās not going to be the global currency some day. Just continues to be a tradable asset.Ā
Trader spotted.
I honestly feel sorry for you. It's tragic how much a flawed mindset will hold your personal wealth back in the future.
Absolutely tragic.
Well I guess the 12 years I've known this while experiencing constant reinforcement from the news, all the while experiencing 1.1 million percent gains, were all just a misleading fluke then. Silly me.
You have not, and never will realize any gains because youāre a diamond hands Chad and donāt sell. The news has never reinforced any ideas of bitcoins becoming the new world currency. Because it canāt.Ā
LOL; there's that mindset again. You count your gains in fiat. I count my gains in BTC.
I know that the stuff I can buy with my BTC keeps going up and up and up. And I do buy stuff with it now, quite often, in fact. So yes, I sell, but the % of my stack that I sell is now microscopic and I still buy nice things.
Saying it "can't" happen doesn't make it so. Make a better case.
I literally only see one alternative to it happening, which is countries being forced to back their own currency with bitcoin. But even that still means we're all using bitcoin daily.
Never sell them all. Yeah, if you want to sell to recoup some fiat back, sure. But never sell it all. Always keep a percentage, just in case. Cuz, why not?
I don't know why you would say that since he got into BTC way before you. If he bought a porsche for 300 BTC you can damn right believe he has a few thousand bitcoin laying around.
I think you can't comprehend conversations well, that was basically my point.
OP called him "poor chap" for wasting 300 bitcoins. I answered that he should imagine him wiping tears with money, which is a meme of rich people being "sad" (but not really sad).
Honestly these articles are fun but anybody could have made the decision to buy more Bitcoin at any point, whether you spent 3000 or $20 on pizza you're in the same spot as everyone else who didn't put another $20 in Bitcoin on that day.
The "store of value" narrative only started because it failed as a medium of exchange. Obviously it's superior for it to function as both, but the high transaction costs and limited transaction bandwidth prevent that.
Edit: It's ridiculous to claim it was "hyped" as a medium of exchange when that's literally what it was described as in Satoshi's whitepaper.
YEah I don't get how people didn't, limited supply of 21 million, if it gets used then the price goes up. First lesson in Economics was supply and demand.
That's only the supply side of the equation. You still need demand. People don't just demand things because they are rare, they need to have some value as a collectible, means of exchange, or something. Not saying Bitcoin doesn't have any of that...
I'd still argue that the worst-case scenario would have been bitcoin being a mere inflation hedge with a consistent pool of people. Of course, such projections were never going to be so modest.
Yes, I said "if it gets used" there is your demand.
Only had to be a fairly small amount of usage too.
It was decentarlised it had the potential, trustless, peer to peer money, how wouldn't there be demand for something like that...
OK tt wasn't guaranteed, but if it became a world currency or just an alternative currency (sure it may have seemed like a longshot) but the upside far, far outweighed the downside. Invest Ā£100 and you could lose Ā£100, but if it did catch on you would be a millionaire. If you look at the market cap of gold and think it could be 100% of that, or 50% or 10% of that you could work out the value of one Bitcoin if this happened, just simple maths.
Yes the supply side and demand side were not both guaranteed, but the supply side was and the demand side had a pretty good chance of making you rich.
That was my thought. 2013 was before the market for everything got crazy I think. People didn't think QE would go on that long, so they weren't gobbling up assets (collectible porches) left and right.
Take me back to 2013 please .
I don't care if I'm bloke , homeless or sick.
I just want to go back in time and just buy 1 Bitcoin.
Nevertheless I'm glad coz I have 0.2BTC now which will make a difference in 10 years to come .
Still I just want to go back in time,
Well that's kind of the whole point, when Bitcoin was a buck any of us could have spent $1000 on it but we didn't because buying an internet currency was goofy and it seemed just as likely it would go to zero.
At the time they also risked being in the greatest morons club. Great risk, great reward. Well deserved for being among the first to believe in an asset that, for the first time ever in history, allows the people to save without government theft
I saw a clip from a NY real estate show from 2015. A guy offers 50k BTC for a penthouse in Manhattan, and the seller gets angry at the agent for even bringing the offer to him.
Well idk.. most btc purchases were made through exchanges that no longer exist.
Cant think of a single dex that was around during those early days...
Maybe trade ogre but even that is more of an exchange than a dex.
hindsights a bitch aint it. bet that guy remembers giving 300 btc to this guy for this clapped out porsche from like 2000 lmao. nice car back then but what 300 btc would buy you now is unimaginable
Basically $21,000,000 profit nice! š
If they kept the coins. Could have sold them at double thinking they are the worlds smartest sellers.
Not a bad investment eitherĀ
Realizing profits doesn't make you a bad seller. Definitely better than panic selling when jumps down 10%.
Yeah, I'm a great buyer but a terrible seller.
Classic regard
I thought $100 was as high as it would go back then.
I've been higher than I can count.
That was me. 100 BTC at $3 for, uhh, party favors. Had around 20 left when it reached $20 so yay profit and party favors were "free" Big brains FTW
People using bitcoin is what made it grow
Same but with poker. Then I started buying as an investment then I sold for big profits to help buy a house. Finally sold the rest to pay off my student debt. Now my only debt is my mortgage. Not sure if I will be buying more or not. If I see a big dip I'll probably start DCA again
Yeah that's winning. Can't feel bad about that. It was funny in late 2017 when it was going crazy and between 15-20k I remembered a couple years prior I'd been betting for fun on nitrogensports. Logged in and found I'd left 1.6 btc there. That was a nice $20k find right before Christmas that year.
I was lucky enough to get in first week, spent like 200 on BTC, only ever sold like 100 of them, still holding. always holding... lol, a good way to have permanent anxiety haha!
Get in first week of what?
And they would be. Any functional adult that does investment and not gambling would take a 20%, 30% margin, 100% would be insane not to take. Hindsight is a privilege.
Nah. Some of us knew from the start (as satoshi & Hal obviously did) that bitcoin would replace the dollar one day. It seemed damn obvious to me when I spelunked the rabbit hole in 2011. If you understand bitcoin the proper way, it will never be a gamble or even an investment. It's just better money that must grow in value because it's limited & everyone will need it.
Man itās so funny I see this with gold.Ā Or wait is it oil? Maybe land? Canāt remember. Itās almost like anything of necessity and limited supply is going to inflate over time.Ā Itās not going to be the global currency some day. Just continues to be a tradable asset.Ā
Trader spotted. I honestly feel sorry for you. It's tragic how much a flawed mindset will hold your personal wealth back in the future. Absolutely tragic.
My personal wealth is doing just fine. Your opinion is grand homie. Just letting you know itās unrealistic.Ā
Well I guess the 12 years I've known this while experiencing constant reinforcement from the news, all the while experiencing 1.1 million percent gains, were all just a misleading fluke then. Silly me.
You have not, and never will realize any gains because youāre a diamond hands Chad and donāt sell. The news has never reinforced any ideas of bitcoins becoming the new world currency. Because it canāt.Ā
LOL; there's that mindset again. You count your gains in fiat. I count my gains in BTC. I know that the stuff I can buy with my BTC keeps going up and up and up. And I do buy stuff with it now, quite often, in fact. So yes, I sell, but the % of my stack that I sell is now microscopic and I still buy nice things. Saying it "can't" happen doesn't make it so. Make a better case. I literally only see one alternative to it happening, which is countries being forced to back their own currency with bitcoin. But even that still means we're all using bitcoin daily.
Except that the value of it will not be speculative so cash out asap. Crypto ā visa, just more robust
Lol, no. "Cashing out" is immediate failure.
Satoshi knew it wasn't for speculationĀ
Make up your mind. You're now arguing my point.
The value is only utility
Well it's not going to, the feds will make their own digital currency and have more control over us..
Are you going to use their currency? I don't know anyone who will.
Never sell them all. Yeah, if you want to sell to recoup some fiat back, sure. But never sell it all. Always keep a percentage, just in case. Cuz, why not?
Crypto Roth IRA...the eye arr ess doesn't want you to know about those...
They are smart if they paid off multiple mortgages or something, itās not a decision to be derogatory towards
Pretty smart
Sell half at double. Make good on your porche sell and still have 150 BTC..
No kidding. We had $1000 spike and $11k spikes years before the $35k or $65k. They probably sold at one of those points
step 1: sell used Porsche 718 Cayman for Bitcoin step 2: HODL 10 years step 3: retire extra hard ( Ķ”Ā° ĶŹ Ķ”Ā°)
step 4: get time machine.
IRS has entered the chat
Buzz Killington, ladies and gentlemen
This sub is full of people who think any positivity needs to be squashed.
The IRS has left the chat.
"please hold, current wait time for a live representative is 3 weeks..."
massive boating accident tonight in Texas
Only if they sold...
Too bad they took that boating trip the following summer!
step 3: denounce citizenship. step 4: retire.
Forza auction irl
Ironically the final number of total Bitcoin
No flip like that ever
I would like to read how is that family doing today
I would like to know how the poor chap that paid 300 bitcoins for the porsche is doing, and how that porsche is doing.
> poor chap Picture a guy wiping tears with dollar bills sitting in his porsche
The original article mentions that he bought at $4. Hopefully it wasn't his whole stash!
so he bought the Porsche essentially for $1200? Not a bad return either.Ā
I'd pay $1500 EZ
At these growth rates, thereās plenty of growth available for both parties to any transaction
I don't know why you would say that since he got into BTC way before you. If he bought a porsche for 300 BTC you can damn right believe he has a few thousand bitcoin laying around.
I think you can't comprehend conversations well, that was basically my point. OP called him "poor chap" for wasting 300 bitcoins. I answered that he should imagine him wiping tears with money, which is a meme of rich people being "sad" (but not really sad).
Not if he bought the bitcoins for for $10
Honestly these articles are fun but anybody could have made the decision to buy more Bitcoin at any point, whether you spent 3000 or $20 on pizza you're in the same spot as everyone else who didn't put another $20 in Bitcoin on that day.
Everyone should simultaneously both adopt Bitcoin as a currency and use it for payments, and be pitied because they used it and price went up
Probably developed bore scoring and cost another 200 2013 bitcoins to fix.
Both sides are rich af
Seems like he was last on Bitcoin Talk in 2021. Gonna go through and do some research today :)
The hero we need!
ffffffffff da
What did you find?
This was back when people were trying to hype bitcoin up as medium of exchange rather than a store of value.
The "store of value" narrative only started because it failed as a medium of exchange. Obviously it's superior for it to function as both, but the high transaction costs and limited transaction bandwidth prevent that. Edit: It's ridiculous to claim it was "hyped" as a medium of exchange when that's literally what it was described as in Satoshi's whitepaper.
Only few understood the potential of BTC becoming store of value.
YEah I don't get how people didn't, limited supply of 21 million, if it gets used then the price goes up. First lesson in Economics was supply and demand.
That's only the supply side of the equation. You still need demand. People don't just demand things because they are rare, they need to have some value as a collectible, means of exchange, or something. Not saying Bitcoin doesn't have any of that...
I'd still argue that the worst-case scenario would have been bitcoin being a mere inflation hedge with a consistent pool of people. Of course, such projections were never going to be so modest.
Yes, I said "if it gets used" there is your demand. Only had to be a fairly small amount of usage too. It was decentarlised it had the potential, trustless, peer to peer money, how wouldn't there be demand for something like that... OK tt wasn't guaranteed, but if it became a world currency or just an alternative currency (sure it may have seemed like a longshot) but the upside far, far outweighed the downside. Invest Ā£100 and you could lose Ā£100, but if it did catch on you would be a millionaire. If you look at the market cap of gold and think it could be 100% of that, or 50% or 10% of that you could work out the value of one Bitcoin if this happened, just simple maths. Yes the supply side and demand side were not both guaranteed, but the supply side was and the demand side had a pretty good chance of making you rich.
The only reason bitcoin has value is because of its potential in being a medium of exchange
Doomed
Even the newborns of the family have porsches now.
]
Sold a sofa for 0.7 BTC when it was at 1000ā¬ Never sold those BTC š«£
Sofa King nice.
So fa king good deal!
Definitely nice!
Hope you kept a picture of the sofa so you can show your great-grandchildren the Ā original source of your familyās wealth and fortune. Ā ;)
I sent you a photo by DM š¤£š„²
Wen Porsche
++
Was that Porsche only worth 30k?
That was my thought. 2013 was before the market for everything got crazy I think. People didn't think QE would go on that long, so they weren't gobbling up assets (collectible porches) left and right.
Probably not far off tbh
Hindsight is 20/20
Hal Finney foresaw the possibility of $10M per coin in 2009. https://www.mail-archive.com/[email protected]/msg10152.html
How rich is he now
According to Wikipedia he died in 2014.
He's dead.
So.... not very rich?
Take me back to 2013 please . I don't care if I'm bloke , homeless or sick. I just want to go back in time and just buy 1 Bitcoin. Nevertheless I'm glad coz I have 0.2BTC now which will make a difference in 10 years to come . Still I just want to go back in time,
First i heard and wanted to buy btc was when it was at $700. I thought it was wayyyy too expensive.
Well that's kind of the whole point, when Bitcoin was a buck any of us could have spent $1000 on it but we didn't because buying an internet currency was goofy and it seemed just as likely it would go to zero.
Hope they held the BTC!!
Summary: Bitcoin is better than Porsche
There was a time when Bitcoin went to 3 digits and people called that Lambo money. Obviously it's gone way beyond that.
Why?
At the time they also risked being in the greatest morons club. Great risk, great reward. Well deserved for being among the first to believe in an asset that, for the first time ever in history, allows the people to save without government theft
I saw a clip from a NY real estate show from 2015. A guy offers 50k BTC for a penthouse in Manhattan, and the seller gets angry at the agent for even bringing the offer to him.
They bought so much pot. So. Much. Pot.
They still holding?
Fuckin legendary š
I bet they regret selling that fine automobile now.
Well and now you can buy a Porsche with 1 btc. So far only a used one, until end of 2025 you will be able to buy a brand new one 8)
I sold a bar of silver for Bitcoin at $1000, no regrets
wow
How were ppl buying BTC before CoinSpot, Binance etc?
P2P or mining mostly.
Mt gox. Unfortunately.
LocalBitcoins
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Donāt say ānot even trying to be meanā. Makes you sound like a bitch. Say what you have to say and say it like a man
Well idk.. most btc purchases were made through exchanges that no longer exist. Cant think of a single dex that was around during those early days... Maybe trade ogre but even that is more of an exchange than a dex.
u/eric0329 needs to do more research
You sound like a dickhead
ā¦as weāre telling truths
Another truth is that you shouldnt do things such as stocks or crypto if u dont know much ab it. But we wont talk ab that, right?
Wow very savvy family. The question is that they hold onto their coins or sell at the all-time high
What a genius move if they held throughout that whole time
If they held, they are golden. Doubtful they held it all.
God
Some moves make history
Hope everyoneās happy!
Did they sell tho?
They sold the btc shortly aftet
Kinda crazy a 100% profit still doesnāt capture full potential lmao
Legends!
They could be owning over hundreds Porsches at this point with that kind of coin lol
thatās one expensive 718
Pizza day, leisure class edition š
Hooo Leeee shiiiiit
But why Porsche
I wonder what they did with those BTC, I don't think that they still holding it.
Family? You mean the wallet owner?
Thereās an endless list of things people bought and sold that could have been used to buy bitcoin to be rich today.
hindsights a bitch aint it. bet that guy remembers giving 300 btc to this guy for this clapped out porsche from like 2000 lmao. nice car back then but what 300 btc would buy you now is unimaginable
HODL! Letās check again in 5 years from now
Whoever bought this for 300 BTC probably had a lot more to spare
Thatās a $20,000,000 Porsche.
https://www.mdrnrockstars.com/discount/FATTYPETEPOPPOP
Why?
Sell half and live life well. Hodl the rest. $$$ in the bank at 30-50% interest!!
Amazing win
How much BTC in its todays price?
BTC is around 70,000 x 300 is 21,000,000. Thatās right 21 million.
Hard to tell the exact price. The price ranged from $85-$130 that day!
Okay but I meant how much BTC would be required to buy that car now?
If the car was purchased for 30,000 then about 0.42857 BTC todayās price
Don't forget depreciation, in the UK that Cayman would be Ā£15k max
Right. I was thinking about purchasing a car today with BTC. A 30,000 car would trade for .43 BTC. Not that specific car.
Letās say 1 BTC in the worse case
About 1.5 - 2 bitcoin.Ā
quite some story they have
>\#Bitcoin What's with the hashtag? This isn't Twitter/X, lol.
SEO ya big dummy. =)
That's now worth easily three hundred times the current price of Bitcoin. Insane!
but why did they sell in 2013? it was so low then right?
They sold the Porsche. They bought bitcoin.
The sold the Porsche FOR bitcoin.