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post #31 of 35
Quote:
Originally Posted by PostalTwinkie View Post

That's just it, I knew what Bitcoin was, my previous statement was my real situation. My ONE big reason for not buying into was that the Feds threatened to shut it down if it took off, since in the U.S. you can't have any other currency that is "official" or what have you. I told myself "The Feds will shut this down, because it is illegal under U.S. law, so what is the point?" and bought that damn TV!

Even though I had a suspicion they wouldn't be able to shut it down, because of how it works......

I am a damn fool sometimes!

I guess I kick myself in the butt a bit because I literally could have been sitting on over $10,000,000 in cash, had I sold at the $1200 high point, minus various fees.

There it goes. Regret is just a form of self-attack. Let it go. You're still well enough off I assume. There is no pain caused by the absence of pleasure.
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post #32 of 35
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Originally Posted by ZealotKi11er View Post

You must really hate that TV. There are a lot of things in life like that. Also how the hell do you trade 10M worth of BTC?

Hahah, yea, I actually just replaced that TV about a week ago now for the new hotness.

As for selling that many BTC? Through the various exchanges, as I would have had something around 10,000 of the little buggers.
Quote:
Originally Posted by un-midas touch View Post

There it goes. Regret is just a form of self-attack. Let it go. You're still well enough off I assume. There is no pain caused by the absence of pleasure.

Yea, I do pretty well, no complaints there. Just one of those "should have listened to that little voice" things. But, hey, you live, you learn, and move on to other things!

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post #33 of 35
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Originally Posted by ZealotKi11er View Post

You must really hate that TV. There are a lot of things in life like that. Also how the hell do you trade 10M worth of BTC?

It's called the early days of crypto when difficulty was low. If he had ~8333 BTC ...

When BTC hit $100 I couldn't believe it, the $1000 it's fetching now is insane
post #34 of 35
Quote:
Originally Posted by AndroidVageta View Post

Oh man I know...we could be flippin millionaires right now but noooooooooo I had other more important stuff to buy (stuff that I don't even own anymore because it's outdated).

I mean, at the end of the day, how could we have known? So I'm not TOO terribly upset about it...but still...it's just...yeah...dammit...

Anyone who looks at the history of bitcoin will get that feeling. And the boat has sailed, litecoin will never do the same thing, neither will any other altcoin. But a lot of people who bought in at 100 probably sold at 300, people who bought at 300 probably sold at 600, and the people who sold at 1200 probably bought at 900. There's only a very tiny handful of people who bought a bunch of BTC when they were under 100 and forgot about them, and then cashed in when they heard about how they breached $1000. The majority of traders only caught a small portion of the ride, and nobody could have ever predicted bitcoin. It's all pure luck. I currently trade litecoin for microprofits every day, and it's just a completely random roll of the dice. The price of these coins is controlled by about 10 super rich people who run trading bots all day.
post #35 of 35
Quote:
Originally Posted by iamhollywood5 View Post

Anyone who looks at the history of bitcoin will get that feeling. And the boat has sailed, litecoin will never do the same thing, neither will any other altcoin. But a lot of people who bought in at 100 probably sold at 300, people who bought at 300 probably sold at 600, and the people who sold at 1200 probably bought at 900. There's only a very tiny handful of people who bought a bunch of BTC when they were under 100 and forgot about them, and then cashed in when they heard about how they breached $1000. The majority of traders only caught a small portion of the ride, and nobody could have ever predicted bitcoin. It's all pure luck. I currently trade litecoin for microprofits every day, and it's just a completely random roll of the dice. The price of these coins is controlled by about 10 super rich people who run trading bots all day.

It's not completely clear that this is the case. The fact is very few in the mainstream have a full understanding of exactly what it is and the benefits it has. People's interest in using it is going to be the largest determining factor of it's price, once the challenges of simplifying the use of it are brought within everyman's capabilities.

Then again it could all just be one big hot potato.

edit: I mean you say it yourself. If the price is in fact controlled by a few super rich people, then it seems almost common sense that these people will make attempts at increasing their price. It's only logical.
Edited by un-midas touch - 1/10/14 at 11:48am
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