Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 25/11/2021, 19:10:23 UTC
Condolences to anyone who will be facing "Bitcoin fell $12,000" around the dining table today. Cheesy

Ask them how much money they’ve made in the last 12-18 months (realised or unrealised). Show them your bitcoin balance & tell them what the price was 12-18 months ago. That will wipe the smile from their HFSP faces.

Happy Thanksgiving WO.

Don't show anyone anything. They'll only come around begging later.

That's a decent point Richie....

I tend to work with hypotheticals to help them to get the exponential ideas.

So, for example, depending on the timeframe, I will take some hypothetical amount that might reasonably be within their budget, and I will say something like:

"Let's say that in late 2013 you had something like $10k that you wanted to invest into bitcoin.   I am not even saying that this is the amount that I invested, and you invested that $10k over then next year or maybe even it took you 2 years to accomplish investing up to $10k... sure you could have had some $250 coins and even $500 coins, but you screwed up several times, and you came out of that mess by late 2015 with about 10 BTC and an average cost per BTC of $1k.  So then we can see the value of your BTC holdings at various points in late 2017 and in 2018 and in the lows in 2020 and in the highs of 2021... so yeah, you would have had 20x price appreciation and then only 3x and then back up to 10x and then up to around 69x."


Of course, you can make similar comparisons for 12 to 18 months and to use hypotheticals.  So I would use something like March 2020 getting involved in bitcoin and taking until September to get to $10k investment into bitcoin which would be 1 BTC with an average cost of $10k per BTC (because you had screwed up), but $10k per BTC still remains an easy and round number to attempt to show that you would have gotten a 6.5x increase that sunk down to 2.8x and then came back up to 6.9x and now is bouncing around between 5.5x and 6x-ish give or take.