Post
Topic
Board Bitcoin Discussion
Merits 4 from 1 user
Re: 12 years today since the first known price was set for BTC
by
Welsh
on 06/10/2021, 21:37:14 UTC
⭐ Merited by DdmrDdmr (4)
What I usually tell people who say they wish they had invested in Bitcoin earlier and then sell of in 2017 for huge profits is that; if you cannot hold for the next ten years now with the price history, you would have not held when there was little information about it even if you knew about it.
It's a common thought process, but you're likely right. This is usually the argument I bring up when someone says they wish they got in earlier, to make a profit back into Bitcoin. In all likelihood they would have sold before it ever got to the all time high. However, it's within our psychology to regret something that was probably unlikely to happen, even if you were to do x at the right time. It's the butterfly effect in well...effect. If they invested at the best possible time, two years later they would have doubled, tripled their money, and likely would have thought that was the best time to withdraw.

The thing is, there's two ends of the spectrum, either you regret not getting in early or you actually believe in Bitcoin as a currency, and could potentially miss the best money making opportunity in your life. I for one, can't promise anyone what the best thing to do is despite having quite a strong belief in Bitcoin. Though, it certainly has its faults, and  I've mentioned it before, it might not actually be THE solution to our problem, however it most certainly is the step in the right direction, and might actually prove to be the foundation that we build on for better control over our money, whether that means Bitcoin will be the currency to solve our problems depends on the world's needs, and the progress we make with development, adoption, and various other factors. However, it is possible that Bitcoin gets replaced by something better, hence why it would be the foundations that created the thought process needed to better our control over our own money.

I don't actually think we're close to that though, and it might never happen. I think it all depends on how Bitcoin is perceived by the masses, and it's development in the next few years, and whether anything else revolutionary comes into play.