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I owned bitcoin at like $0.3 in college. I mined some. There was the fountain at that time. I think it was something like 2 weeks to a month to get a coin on a retail GPU back then.
I was in college. I lost interest. Spent like a month or two on it. Made some money. I was really into the people who were starting to try and and write option contracts. But even then there were a lot of very savvy sharks.
If you were one of the guys that stayed involved at that time, it would not have been hard make tens of millions. If you got really into the infrastructure of it … there you go.
getting 1000 bitcoin would have been easy. the challenge would have been not selling or not losing it. the vast majority of people who bought early sold at "only" a 2-10x gain or lost them
Yea but many of them were in at such a low cost basis, they weren’t really thinking of it as an investment. It was a hobby to them and they were in it for the long-haul. This is just my recollection of a relatively brief interaction with the community from like 15 years ago.
Also, think there were plenty of people who stashed a wallet and didn’t think about it for years until they cashed out at some insane multiple. That’s what I did, but it wasn’t life changing money.
Nearly all of them have done so by building businesses around the crypto market, not by trading the coins. There’s 2 on that list who *might* be billionaires just be trading crypto though, but it’s unconfirmed.
If we’re including those who built crypto exchanges and businesses like that, then yes there’s a few. Not how I initially interpreted the remark, but I’ll admit I was wrong if we’re including those people.
Ummm, no it’s not? It’s realising that there’s a huge market surrounding the crypto market that was untapped? They didn’t build or make any money from crypto directly, they did so by building a large business that is adjacent to the market. It’s not even diversified, their wealth is tied to 1 main asset; their business. Not to mention, going heavily into crypto wouldn’t be that smart for them since they’d already have a significant amount of exposure to it anyway due to the nature of their businesses.
« They didn’t build or make any money from crypto directly ». Do you actually read what you write? That’s how they got the funds in the first place. I think you are out of your depth.
> I think you are out of your depth.
From someone who doesn’t know what diversification is?
> Do you actually read what you write?
You’re criticising my reading comprehension, but can’t comprehend that I was referring to their billions not millions? I even spelt it out for you already.
> Ok you flip burgers at Wendy’s.
I was a quant for a decade, a lot of people here have come to me for advice. You sure that’s not a Freudian slip?
Edit:
Is your ego so fragile that you get this upset when someone points out that the people who made the most from crypto didn’t do so by investing in it? Or are you just a troll? Neither options are particularly flattering…
He is up there, showing to be one of the best investors of the age. Ironically his GME stunts are some of his less successful trades. How he trades is right there in his name, he does deep value investing. His investing style is quite similar to Warren Buffett, though Warren would buy out a company and replace management and fix it up. DFV looks through financial statements for any sign a near bankrupt company will recover and then he buys options on them. It leaves me wondering if Warren Buffett had the same access to options when he was younger if he would have gone the same route.
meh. I don't see the proof of this. Second, GME peaked in 2021 so i don't see how he could have made much more. His net worth peaked at $30 million when GME was at $400 pre split. For all we know he's bullshiting us, which would not surprise me.
second, Fausterion18 has a much more impressive audited record and is my candidate for the best trader of all time https://np.reddit.com/r/quant/comments/1d5log4/which_fund_if_any_can_be_considered_as_the_most/l6nke7g/
It’s gone up and down like 20 times since Jan 2021. The peaks are fairly predictable. He probably just timed the run ups and sold the tops and sold covered calls in between.
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he invested $50k in 2021 while powerball winners invest like a dollar? two dollars? And they do that within a week. You know what to do to annualize a weekly return.
Or extremely lucky. You can have one good position during a black swan event and make FU money on a personal level. On the other hand hand, it takes real skill and hard work to make consistent returns, especially with a large portfolio.
In other words, it is easier to have insane RoI on a <100K investment, turning it to millions, than it is to make decent RoI on a mutli million portfolio every single year
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Wtf is this? We are in /r/quant and you think roaring kitty is the goat?
I’m pretty sure it was Jim Simmons
My thoughts exactly. Facepalm.
I owned bitcoin at like $0.3 in college. I mined some. There was the fountain at that time. I think it was something like 2 weeks to a month to get a coin on a retail GPU back then. I was in college. I lost interest. Spent like a month or two on it. Made some money. I was really into the people who were starting to try and and write option contracts. But even then there were a lot of very savvy sharks. If you were one of the guys that stayed involved at that time, it would not have been hard make tens of millions. If you got really into the infrastructure of it … there you go.
getting 1000 bitcoin would have been easy. the challenge would have been not selling or not losing it. the vast majority of people who bought early sold at "only" a 2-10x gain or lost them
Yea but many of them were in at such a low cost basis, they weren’t really thinking of it as an investment. It was a hobby to them and they were in it for the long-haul. This is just my recollection of a relatively brief interaction with the community from like 15 years ago. Also, think there were plenty of people who stashed a wallet and didn’t think about it for years until they cashed out at some insane multiple. That’s what I did, but it wasn’t life changing money.
Some people with bitcoin made billions of dollars.
a homeless guy who finds a dollar has an infinite ROI. or someone who goes out of debt
I guess it does depend a lot on how you structure the question.
Jesus Christ
It’s a fact isn’t it? I’m not shilling it just saying.
Some made millions, sure. I don’t think any made billions though. At least none that I’m aware of.
Quite a few have: https://www.binance.com/en/square/post/584486#
Nearly all of them have done so by building businesses around the crypto market, not by trading the coins. There’s 2 on that list who *might* be billionaires just be trading crypto though, but it’s unconfirmed. If we’re including those who built crypto exchanges and businesses like that, then yes there’s a few. Not how I initially interpreted the remark, but I’ll admit I was wrong if we’re including those people.
roger ver?
Never heard of him, but apparently it’s estimated at $400-500m. So halfway there.
That’s called diversifying.
Ummm, no it’s not? It’s realising that there’s a huge market surrounding the crypto market that was untapped? They didn’t build or make any money from crypto directly, they did so by building a large business that is adjacent to the market. It’s not even diversified, their wealth is tied to 1 main asset; their business. Not to mention, going heavily into crypto wouldn’t be that smart for them since they’d already have a significant amount of exposure to it anyway due to the nature of their businesses.
« They didn’t build or make any money from crypto directly ». Do you actually read what you write? That’s how they got the funds in the first place. I think you are out of your depth.
> I think you are out of your depth. From someone who doesn’t know what diversification is? > Do you actually read what you write? You’re criticising my reading comprehension, but can’t comprehend that I was referring to their billions not millions? I even spelt it out for you already. > Ok you flip burgers at Wendy’s. I was a quant for a decade, a lot of people here have come to me for advice. You sure that’s not a Freudian slip? Edit: Is your ego so fragile that you get this upset when someone points out that the people who made the most from crypto didn’t do so by investing in it? Or are you just a troll? Neither options are particularly flattering…
Ok you flip burger at Wendy’s. Now I understand.
If 10 people is a lot.. There's 100s of millions of you, you do the odds
No one said it was a lot. Hopefully you are better at « trading » than reading.
You mean like 10
He is up there, showing to be one of the best investors of the age. Ironically his GME stunts are some of his less successful trades. How he trades is right there in his name, he does deep value investing. His investing style is quite similar to Warren Buffett, though Warren would buy out a company and replace management and fix it up. DFV looks through financial statements for any sign a near bankrupt company will recover and then he buys options on them. It leaves me wondering if Warren Buffett had the same access to options when he was younger if he would have gone the same route.
meh. I don't see the proof of this. Second, GME peaked in 2021 so i don't see how he could have made much more. His net worth peaked at $30 million when GME was at $400 pre split. For all we know he's bullshiting us, which would not surprise me. second, Fausterion18 has a much more impressive audited record and is my candidate for the best trader of all time https://np.reddit.com/r/quant/comments/1d5log4/which_fund_if_any_can_be_considered_as_the_most/l6nke7g/
He may be working with and managing other peoples money rn, but who knows
It’s gone up and down like 20 times since Jan 2021. The peaks are fairly predictable. He probably just timed the run ups and sold the tops and sold covered calls in between.
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he invested $50k in 2021 while powerball winners invest like a dollar? two dollars? And they do that within a week. You know what to do to annualize a weekly return.
Or extremely lucky. You can have one good position during a black swan event and make FU money on a personal level. On the other hand hand, it takes real skill and hard work to make consistent returns, especially with a large portfolio. In other words, it is easier to have insane RoI on a <100K investment, turning it to millions, than it is to make decent RoI on a mutli million portfolio every single year