Post
Topic
Board Economics
Re: Am I wrong to think Bitcoin whales should be ashamed of themselves?
by
kgo
on 25/08/2014, 14:55:44 UTC
They did more, now they have more. Why should they be ashamed?


What they did was being lucky (right place right time.) Effort isn't in direct correlation with being a Bitcoin millonaire by any means, let's be honest for a second there. This doesn't really mean they do not deserve this. In economic schemes the ones that are there first get most of the cake, unfortunately this will always be like this as long as currencies are needed for societies to function.

There are those anecdotal stories of people who forgot they had a wallet, but although most bitcoin millionaires might have been lucky by being at the right place at the right time and getting a bunch of bitcoin, the actually did put some thought and effort into:

* Not blowing it all on 10,000 BTC pizzas.

* Not selling at record high of $0.70 before the bubble burst.

* Not selling at a record high of $266 before the bubble burst.

* Not selling at a record high of $1300 before the bubble burst.

Plenty of people who could be bitcoin millionaires now are not. That's not just dumb luck.