Confession time. During the first few months that I started investing in cryptocurrencies, I always believed that the people who got involved in Bitcoin early (pre-2017) and made millions of dollars were just lucky. They'd hit the jackpot in life, and there was little more credit to give them than that.
These days, I have a totally different perspective. These were the people who had the grit and mental fortitude to hold throughout all of the FUD and crashes. They remained hopeful at a time when everyone else became scared and jumped ship.
They were lucky in the sense that they became aware of Bitcoin before most other people. But other than that, they 100% deserve our respect and admiration. Now it's time for us to deal with the adversity that they did.
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can not agree more!
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They were just lucky in that they heard about it early AND invested in it.....deciding to do something is often luck, flip of the coin, maybe you do it maybe you don't. I nearly invested twice, if I had invested just 10% of what I had in stocks when I first heard of Bitcoin I would be a billionaire...the decision not to invest vs. investing is just luck, it does not change my knowledge at the time. There is no such thing as "genius" when it comes to investing, it's just a choice and at the time it was a foolish choice to invest in Bitcoin, but it just turned out to pay off, just like the person betting on a number in roulette, no difference. Is Papa John a genius for starting a pizza company? no, it's actually a pretty dumb idea.
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Totally agree. Calling someone "lucky" is just something people say to avoid feeling left out or bad for not getting involved with something.
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Anyone who held through Mt Gox has ba**s of steel.
People always want to proclaim someone successful as lucky especially when it comes to investing. I came across bitcoin in 2011 and told myself, I need to invest $500 into this. Did I? No. I put it off, got distracted, and forgot about it.
It is the same on here...many proclaim people who were able to buy STEEM at 6 cents lucky.....of course, how many are buying STEEM now that it is crashing (and like with BTC years ago, there is really no threat of STEEM going under like there was at 6 cents).
It takes a lot of fortitude to hodl through the rough times. The stock market went nuts the last couple days, and when you look at the percentages, that is a mild move in the crypto world. We look at 20% either way as nothing.
And yes @louisthomas, we do have the opportunity to be the next millionaires from crypto...if we can weather the ups and downs. Those that do, will be rewarded in my opinion. But, as we saw the last month, plenty of people who are bailing.
Thanks for the video.
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I completely agree, believe in the technology. Evolution is inevitable and essential for the fast paced world we live in.
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They had a great perspective. Now we have to think different and try to see new opportunities
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The adversity is great, and we kind of understand what it might have felt like then. But seriously the FUD now cannot be compared to the FUD then. Now we have more investors into crypto with better understanding and sense of direction who knows nothing other than HODLing even if the bear tears us down.
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I great time to reflect on this. I was watching some Cedric Dahl vids on youtube yesterday and was thinking some of the same things you have said in this video. They are lucky in some sense.. but to have the guts to hold on for so long, the REAL mvps of crypto. lol
I wonder if it gets easier to hold after you have had one huge success. Hope ours comes one day!
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Not all of them. Just dont get the FOMO because if you fear that, youll miss out. Better to jump in a swimming pool even if you don't know if you can swim. Just cross your fingers that someone will come to get you out.
Probably a bad example, but I'm not a millionaire because I had that fear. I could have that millions if I didn't have that fear.
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You are right about being in a situation now like they were in 2013-2015. Actually it's even more easy for us now. because it is kinda obvious Bitcoin will grow. Back then it was a technology that could just die in one flip without the support.
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