You've heard about people who had early opportunity with the Bitcoin but missed it? Well, I'm one of them.
It was early 2011 on a Wednesday morning that someone called me on phone to inquire if I was in the office, that he'd be heading to my office in few hours to discuss an important business proposal. I wanted to ignore but something tells me to allow him to come over, since it was a business discussion. So I obliged to the request and asked him to come over in the next one hour, that I may be having another meeting in two hours time.
47 minutes later, the guy was in my office fully prepared and radiating with confidence. After we exchanged greetings and some brief instructions, he presented me with the papers full of charts and models, explaining how Bitcoin was going to rise from $1 to $100,000.00 in the next 10 years. I didn't know whether to laugh, be angry, dismiss him out rightly, or to take him serious. I asked him what he was doing for a living, he said Bitcoin. Nothing else but Bitcoin. That he buy and sell and sometimes, hold for a while before selling. He explained to me how Bitcoin ruse from $0.001 to $1, an how much he made from it. Showed me the evidence, and how Bitcoin will continue to rise over the next 10years.
I was a bit convinced and somehow I was developing interest. But the whole idea of investing in an unknown virtual asset on premise that it will gain 10,000% increase over the next 10 years was completely a bad joke for me. I wanted to risk $1,500 but he was looking for $50,000 or nothing. The share formula was 30/70 and the agreement would that there'll be no selling off, no matter the reason, until 10 years. Even if Bitcoin moved to $100k before then, and started to trend backwards to zero, that nothing would make us sell until the agreed time. That was what scared me off completely and I turned him down.
If I had accepted that offer, the $50,000.00 would have acquired 50,000 units of Bitcoin.
At the current rate my 70% share would have been:
BTC50,000 x $62,000
= $3,100,000,000.00.
3,100,000,000.00 ÷ 100
= $31,000,000.00
31,000,000 × 70
= $2,170,000,000.00.
The 10 year plan ended in February 2020 and Bitcoin was $10k at that time. The prediction was off by wide margin but still good. I never imagined in 2011 that Bitcoin would to that high,and now we're at $62,000 and still going.
I currently have some crypto (BTC, ETH, LTC, etc) but nothing compares to what I'd have got from the Investment plan, or even remotely close. I lost an opportunity to become a Bitcoin billionaire!
That's by the way though, but one thing I learned from proposal is that it's important to always have target and set time for your Crypto Investment. If you continue to Hodl without set time and target, you'll either Hodl forever because they'll be no end to your expectations, or you sell at the wrong time.
Right now, I'm holding till the next 5 years. I'll continue to scrape for a living till then. Hopefully it works in my favor.
I'm new here but not new with Crypto. As time goes on, I'll be sharing some of the ideas and personal experiences I've had over the years as time permits.
What's your current plan?