Post
Topic
Board Speculation
Re: Will it hit $1000 again?
by
windjc
on 17/12/2013, 10:20:14 UTC
Bitcoin is not a get rich quick! It's a "get rich slow" or "get poor quick", and you need to select one about now Smiley

True, but it is not really a "get rich slow" scheme.  I would not call 6 months very slow.  Wink  Maybe more of a "Get rich with a small bit of patience" is a better way to put it.

I think I read somewhere that in the history of Bitcoin, no one has lost money that has bought and held longer then 6 months.  Sounds pretty good when you think about it that way.

If someone bought at $32 in 2011, then they had to wait about 18 months to make a profit, fyi.

But barring buying in the month leading up to that, yeah, you're statement is pretty much true.