Do you own bitcoin?
I only kept one third of what I mined 8 years ago. That's about 0.04 BTC or around 4K USD nowadays.
Do you own bitcoin? Any crazy story you want to share?
I used to have a few, don't even remember how long ago that was when Bitcoin dropped from $20,000 down to $3,000 or so, I just remember I threw some $300 at Bitcoin and another $200 or so at Dogecoin just for the fun of it, to see where it would go, thinking if I lose it, $500 I won't miss.
About 3 years later, when Bitcoin went up to $60,000 the first time I sold all of it, got roughly $25,000 out of my $500 investment and I'm happy with that.
Haven't bought any since, the volatility is too high and the prices are way too high up, there's no way of another 50:1 increase and I find the risk of loosing too high.
Hahah, I don't believe that.
If you made 25 grand off of a 500 investment, in 3 years no less, if you had any brains, you wouldn't tell anyone.
Of course then again, no one here knows who you really are.
WHich I see as all the more reason you can make up a story - no one can check it.
The long and short of it is, I don't believe you put 500 dollars into something - then sold it, 3 years later, for 25 grand.
You see, I don't gain a thing whether you believe it or not.
You're not the only one not believing it, or better most people will believe the gain, because the crash from 20,000 to below 3000 and 3 years later up to 60,000 anyone can look up and all the people who know me in person have heard me telling about it when I bought some, but then they ask back how much I reinvested later and how much I lost in the overall of everything, meaning they don't believe that I didn't buy any after I had sold, but then given the current course of Bitcoin they can't really believe I would have lost money with a later investment if I had made one.
Furthermore this isn't a matter of belief, in fact anyone can check it, the blockchain keeps the transaction history indefinitely, I still have my Electrum wallet showing everything I ever received and spent, including the Bitcoin transfer from my wallet to Coinbase, meaning I have to take back the "I don't remember when" from above and can tell you after I looked it up just now, I have transferred roughly $10,000 in Bitcoin between february and march 2021 where I sold them in april.
Coinbase didn't have Dogecoin back then and it's a different wallet which I don't have installed anymore, so I would have to reinstall that to look up dates and values, but the transaction history of that is preserved indefinitely as well, I could look it up if I wanted to.
Either way, it's none of my concerns whether you believe it or not.
It IS a rather unbelievable tale.
I roped, tamed and saddled a Rainbow colored Unicorn last week and I can’t prove it but it’s totally true👍
If you insist, here's the screenshot.
On start in the end of 2018 I had not put all of it into my personal wallet, but had scattered it over a dozen websites that promised 5% annual interest on a Bitcoin balance, which turned out to be pretty worthless because most of the interest they paid I lost in transaction fees when I transferred my balance from those sites bit by bit to my wallet.
But that gives me a history in my wallet to show, how the balance grew from 2018 to 2021 while I never spent any and how it all went out of my wallet when I sent it to Coinbase.
https://ibb.co/72vdm1t
I can even tell you why I did the big transfer in 2 steps.
Coinbase had a minimum transfer of 0.02 BTC, I first did a minimum transfer to see if it would arrive and only after that was there I transferred the rest.
There was a tiny little rest leftover that I had overlooked on one of those websites, which shows in my history after the big sale, but that's too little to be worth mentioning.
Is that enough now? I'm really not in for reinstalling my empty Dogecoin wallet.
I believe you ,
but you gotta stop letting people bait you into proving stuff like that .. let it go
It just more digital footprint on the net , however semi anonymous
I'm too old to care about my digital footprint, statistically I'll be dead in about 15-20 years and my wife and me are the last survivors of both our families, all relatives gone, all without children.
We're having a good life, but without children there's no point in accumulating savings and there's also no point in hiding anything, because there isn't anything worth hiding.
Did you start off with 500 in cash, and then three years later have 25000 in cash, in your hands?
If not, then you didn't do what you said.
I spent ten years in financial services. There isn't any product I could have put any one in (not even the most electric stocks) that would have performed like that.
I never got involved in BITCOIN myself so I can't talk intelligently about it. What I can say is everyone I knew that got involved took a bath - plus it turned out a bunch of con artists were behind it. Which reminds me of Bernie Madoff. Yeah, for years, what people did with him looked great - but it was only pieces of paper.
SO, back to the original question, Did you start 500 in cash in your hands, and three years later, walk away with 25000, in cash, in your hands???
It was a common thing for many people who were into cryptos at that time, simply because all cryptos crashed in the end of 2018 and had an all time high in 2021, where Dogecoin gained even more than Bitcoin, meaning anyone who bought any cryptos in the end of 2018 / early 2019 and kept them until 2021 will have had a similar gain.
The part where I may be a unique case is that I didn't do anything with cryptos before 2018 nor past 2021 and that's thanks to my wife.
Being married for a long time, having just one bank account, making all financial decisions together, ment even though I had followed the evolution of cryptos for a few years already, my wife has always been sceptical about it, prevented me from putting up any money and given how it crashed in 2018 that turned out to be wise.
The $500 I invested in december 2018 was some kind of xmas gift, after I had told her about the big crash and how cheap cryptos were she agreed to let me give it a try, but limited it to $500.
After that I had expected the market to go back up in way less time than 2.5 years, while my wife remained sceptical, so for 2 years she kept teasing me that I might never get back our $500.
Even when I told her it's time to sell in early 2021 she remained sceptical about whether or not sites like Coinbase were legit and would really pay, when those $25,000 arrived in our bank account in april she was honestly surprised it had worked out and quite frankly, I hadn't been 100% sure myself up to that moment.
Since there hasn't been another big crash since, at least not as big as in 2018, my wife and me are back to her preventing me from investing, only now I agree with her, still remembering what would have happened to me if I had invested before 2018.
In short, yes, I took $500 in 2018 and walked away with $25,000 in 2021, but I'll be the first to admit, if it hadn't been for my wife I wouldn't have been so lucky.
I'm not making a secret out of that, because the money is long gone, or better it is standing outside the house in the parking lot.
Well, if your story is true, congratulations.
I've never met anyone in my life that made out as you supposedly did.
I'm seeing it as a lucky once in a lifetime thing, mostly thanks to my wife, where a gain of $24,500 isn't really that much of a gain when divided by 3 years.
It's a good story to tell, especially because I can back it up with evidence, but in the end the total sum was less than 6 months worth the salary of avarage workers and that spread over 3 years, a welcome bonus used to get us a new car without taking a loan on the purchase, but nothing more.
Divide 24,500 by the 29 months between december 2018 and april 2021 and it becomes less than $1,000 per month.
Brother I can't figure you out.
First the World War comments. Which would only make sense if you are British. There was nothing for the AMericans to clean up as the continental United States was untouched. If you were an AMerican, once WW2 ended - you should celebrate and thank God for your wonderful luck.
Same goes for making 24500 off a sloppy 500 investment. It isn't that much of a gain? Its plenty when you only risked 500. Not like you were working your butt off for three years to get the 24500.
ANyone else would be whistling dixie.
Ok - I have to go now.
No offense to you - best wishes.
I guess I can clear that up at least a little bit for you.
I'm not American, I'm German, my grandpa was born in 1897, has been a soldier in the German army in both world wars, been a prisoner of war in Russia for several years and I remember from my earliest childhood on him repeating several times a day "Nie wieder Krieg" which translates to "never again war".
My parents born in 1938/1941 grew up in the middle of all the destruction in Germany and had a really hard time building a life before things got better some time in the 60s.
That's where my war comments come from.
As a side note, celebrating and thanking god are independent things.
I'm one of the over 50% atheists western Europe has nowadays.
About the money, I simply don't need it, my wife and me have organized our lives from two average pensions so we can have a good life from that where risking $500 for once won't hurt us, but other than buying a new car we do not know what else to do with an unexpected gain of $25,000.
You might say the value of the story to tell how I made that money is for me worth more than the actual money, because the money is gone, but the story I can tell for the rest of my life.
Last but not least, do the math.
How much time has it taken me following the evolution of Bitcoin for years before 2018?
How much time did it take me in 2018 getting wallets and finding trustworthy sites to buy it?
How much time have I spent between 2018 and 2021 moving around the cryptos between sites that were paying interest on it and continually observing the price?
How much time did it take me registering at Coinbase and 3 other exchanges that accepted Dogecoin back then?
How much time did it take me sending the cryptos there, requesting the conversion to US$ and requesting the withdrawal into my bank account including conversion to EUR?
If I had worked paid overtime for the same amount of time I would have made more than $25,000 and it would have been risk free without investing $500 on start.
And then you have to realize I retired before 2018 because I had enough pension to make a living without work.
Yeah, I don't believe you.
But rather than list the plethora of potential inaccuracies - I'll just close out.
Best of luck to you - have a great life.
Awwww, let me guess ..... the potential inaccuracies comes down to me mentioning I'm an atheist, which you automatically convert into your religious habit of "I believe anything my pastor says without evidence, but I won't believe any evidence backed thing an atheist says"?
shareHahahahah - now, in addition to my doubts on your story, I think you may be bananas.
No, in fact, I have many friends in England. I think the #'s are greater than 50% in terms of Atheism in Europe. I don't know the exact #'s but, this was one facet of your story I had no doubts on (you being an Athiest - it made total sense). This is of course assuming you are in fact European (I have doubts on that part of it)
Whatever it is you really are, rest assured - I am an AMerican - and not all of us believe without question.
As it happens, I'm Agnostic.
Until the Big Bang is 100% proven, to the point there is no doubt as to where the spark came from - it leaves an opening. It leaves an opening that a supreme being is behind all of this. It's a very small opening but it is there.
" I don't believe you put 500 dollars into something - then sold it, 3 years later, for 25 grand."
That would be true in any other case than bitcoin at that time , but that must have actually happened to everyone who owned any bitcoin at that time , even though they probably wernt expecting it.