I was watching Bitcoin around 2012-2013. I thought it was a bit silly reading all the evangelists on places like Reddit. I even joined the sceptics sub to see what they were saying. The more they were sceptical the more it went up. BTC was less than 100 USD.
I kept waiting for it to all fall apart.
BTC went up, came down, but kept coming back.
Then it was 2014, then came January 2015.
At a certain point I realised, it just seemed to always come back. Sure, it was easy to poke holes in it, though it was obvious the basic idea of a blockchain was genius.
By January 2015 it was around 200USD. I had very little money as I was back studying as a mature student but I put in a few hundred euro. I was still wary and sceptical.
But you know what, BTC doesn't care what I think.
I bought in at around 200-400 USD in 2015. And I bought more over the next year. The price went mad in late 2017, early 2018 and reached around 16,000. It bottomed out around 3,500 in Jan 2019. Maybe I should have sold but I didn't.
I took the long view. I was already hugely up as I had bought early. It could fall 90% and I was still way up and I could afford to wait.
Let's just say I am glad I did. Even if this run bursts again this year or next year, I will still wait. I have time. It can drop 95% and I have still made a big return. I only put in a modest amount. I can afford to lose it in the worst case.
Sure, it could all 'go to zero' but at a certain point you have to admit all the hysterical warnings from 2017 onwards look a bit silly now.
All of you here who sat it out for the last 10 years saying it was silly, and being SO SO certain. Almost everyone here has now bought some or will soon or one of their investments will buy it. You are making me rich (well, richer, I should have bought more).
Thanks for that.
People will still come on here today as say it's a bubble or a Ponzi. I suggest you read the posts from 2017 saying the same thing and think carefully.
I don't care if it's a Ponzi or a bubble. I don't do ideology or pontificating from the sidelines. I tried it out and I won. Partly luck, partly judgement. It does not matter. What matters is that I put aside CERTAINTY and telling myself and everyone that I was an expert and that it MUST go to zero. The market does not care what you think.
By the way, lots of talk about ETFS but what about the millions of people who can easily buy crypto on Revolut. You think they won't all soon buy in as well or are already doing so?