How I Could've Made A Lot Of Wealth.... Maybe the flippening is real?
So, I'm a big believer in Bitcoin, and I have been for many years. I think Bitcoin will be alright, in the longer term.
But, I own zero ethereum. And tbh, I fucked up by not buying any.
Considering, I first saw ether at $1, and I could have easily invested 1 bitcoin, but for some reason I didn't.
I find people can be very biased towards new projects and ideas, and I listened to the wrong people. I kept most of my crypto in Bitcoin, and now I feel like I have missed out.
Now ether is trading near to $400. Sigh...... :(
If I had invested just 1 bitcoin, when ether was $1, I would have multiplied that 1 bitcoin into 400 bitcoins!
Its unbelievable, when you start to do the maths.
I do think Ethereum is in a bubble, whereas bitcoin, has hardly moved. But despite that I know I fucked up, and I could've made a lot of wealth.
You live and learn, but I don't seem to ever learn, and find it difficult to get motivated when I hear about new ideas and projects....
http://www.publicdomainpictures.net/view-image.php?image=25234
It is not totally true what you are writing, when Ether was one USD, BTC was around 400 USD. So if you bought for one BTC that time you had 400 Ether now. 400 Ether is 150.000 USD = about 55 BTC.
Still it is a way bigger profit that what BTC brought, but the coin is also newer. The profit of BTC was comparable in its first years and a huge crash was what followed......
I think BTC will be the final winner, if Segwit gets activated in time. I own different alts (also Ether) next to BTC, but more as a hedge and for speculation. After Segwit activation I will sell half of my alts and buy back BTC.
Think about it: Blockchain technology is so exiting because it is decentralized, tamper proof, hardcoded limited supply and super secure. BTC is still by far the best in these areas.
@michiel You seem well informed on this topic, may I ask you why you think Bitcoin will "win" over ether or others?
p.s. it's a candid question :-)
I believe that when 2nd layers are build on Bitcoin, they can do same things as certain altcoins, but faster, cheaper and more secure. On top of that, BTC is accepted in more places, so it makes more sense to use this currency instead of an alt that almost nobody owns.
I think it is easier in the short term to create a blockchain for only one specialized user case, but in long term it is way more efficient when everything is done on one big blockchain. I think finally the lightning network will outperform Monero, Zcash, Dash enz. because it is anonymously, almost free and instant and if RSK is as good as they promised they will outperform ETH too.
The security of the Ethereum chain is way less and it is proven not tamper proof after the DAO hack and the network is kind of centralized. Also RSK will be cheaper. One new event like the DAO can push all the new smart contracts to BTC. The only advantage of ETH is that it is hyped by mainstream companies and banks and that BTC has to sell itself. But after al a good product will sell itself!
I hope to see more specialized frameworks with different economies, goals and functionalities working with their associated crypto-currencies, it makes more sense to me. But you gave me a good topic to study in deep since i'm still a newbie in the "crypto-world" and RSK is something I've heard, but still pretty ignorant about.
One thing is certain, the crypto economy may reshape our world as much as smartphones or internet did. It will be fun to watch :-)
p.s. Sorry for my not-so-perfect english.
We will see how the future plays out, but I see the Bitcoin blockchain as an extremely secure, super valuable core were 2nd layers can be build on in form of side chains, off chain solutions and applications with all specialized functions and abilities.
They will be suited for different uses and economies. Thats why I think some people that are heavily invested in altcoins are trying to block Segwit in Bitcoin. Segwit will be the fundament of 2nd layers and is very well tested. It doesn't make any sense to block it if you want Bitcoin to move ahead.
Perhaps you're right..... Maths isn't my strongest area. :P
I suppose ethereum went up in price, and bitcoin also, hence why its only 55 bitcoin.
I feel a little better now. Thanks.
BTC has build up its value way more steady and probably more sustainable. Im much more comfortable being invested in BTC
If there is one piece of trading advice i can give is to never ever wallow in the thoughts of ... what if i had done this .. or I should have done that.
Hind sight is a wonderful thing but its impossible to say at the time which coin is going to move upwards and which will go down. There are ways and means of making millions all in one day, all you have to do is to go all in betting on the thing that will move. But of course nobody knows this, so don't beat yourself up for not knowing this also.
The best method is to take a sensible approach with some reading up on the fundamentals (basic plans/aims/ideas that a company has)and perhaps a bit of technical analysis to pick the exact time to dive in (i.e. dont dive in right at the top of a huge spike, wait for it to retrace a little as people sell off).
Also take a measured approach, invest in a few different things. I'm currently split 40/40/20 between ETH/STEEM/XRP.
Best of luck.. and don't look back too much :)
Hello. Thanks for the advice. I know I shouldn't beat myself up too much. But it's frustrating at moment, watching ether go up, when I did want to invest, and now I feel like I've missed the boat. If I were to buy now, it would surely collapse. I cannot win. sigh...
I had ethereum and then I sold it. I don't like the value proposition with ETH right now and I have no time to watch it. This is something I personally decided on based on my own circumstances. Yours might be different, but I regret nothing. There is a long story ahead in the crypto space, and it is starting to come into its own.
I know it seems like prices sometimes reverse direction as soon as you buy in but its not always the case. Id say you tend to remember the ones that reverse direction more than those that dont.
With regards to ETH, you realise its total market cap is closing in on bitcoins at a decent rate? That means any sensible investor is likely to sell their bitcoins soon and buy ETH which is only going to drive ETH up further.
If you want my advice, buy as much ETH as you can now and then just forget about it for a few weeks and check back later and see what its worth.
Ethereum is indeed in a bubble, but , in my modest opinion, it seems to me it has more potential in the long term while bitcoin is not very sustainable as it is today. But still, I hope to see in the near future BTC, ETH and some other Altcoins getting used in our day-to-day life.
This is not entirely correct - $1 ETH would be worth 400 x the $1 you paid - it is not related to bitcoin
In my view ETH has a long way to go - it is still very new, and yet trading over double the transactions of BTC - something that people are overlooking
The fact that Ethereum blockchain (Vs Ether the currency) is able to "host" other technologies via Smart contracts gives it significantly more scale and business use now and in the future
Cases now:
I will not go on, but Ethereum (the Blockchain) has a big future
Yeah, I got the maths wrong... I could've made 55btc not 400btc. Thanks. I'm still interested in ether, and I'm hoping the price will come down a bit.
I wish it would fall back to $100 for a day or so :-) Long term we are onto a winner :-)
There are also 1,000 other coins you could have invested in that are worth nothing today. I know, I've put a little bit in many of them. Then there are all the exchanges that went away with peoples' coins. Fortunately I did pull the trigger on a few ETH early on. Not nearly as many as I wish I had, though!
Thats a really good point. I have lost also on some other altcoins, but luckily I made some $$$ buying Monero.... But like you, I just didn't buy enough.
Thanks for the opinion)