I have always been a strong believer in Bitcoin since I discovered it in 2011. However, as the price went through several highs and lows I decided to diversify my holdings, which were tiny at the time (I only had I graphics card to mine and could only pull in approx. 0.5 btc per day!!)
I decided to buy some gold and to test some of the newer gold sellers that accepted bitcoin, I decided to buy a few 1g bars (well small squares) to test their delivery etc.
Here is the receipt from one of them:
As you can see, I got a bargain of a 1g bar at 5.837btc with a very reasonably priced 1.5 btc for postage.
At todays prices:
1g of gold is approx: $40.82 (google spot price at this time)
7.337btc is approx: $27,146 (again google price)
Now I could be bitter about the lost 27 grand but I'm not really. It has just reminded me how far Btc has come and how much further it can still go. I also made several conversions to fiat over the years and if I had of held throughout and only sold in the past couple of months, I would be retired and very rich.
But its difficult holding an asset which was $3 a couple of weeks ago and is currently spiking at $13, even when you believe. Although I have always believed, at that time if you had of told me to hold because in 5 years or so, btc would be worth $5,000 I would have thought you were mad.
I think this puts it into perspective when people talk about seemingly ridiculous figures such as 500k per coin (I'm looking at you John McAfee:
https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/
Lets hope he is right!
Don't worry, prices will keep rising but it's an interesting story, I myself should have held when I had the chance but we have to learn somehow! It's taught me to be more informed and keep learning more about the blockchain. And steemit is a beautiful platform for keeping up to date and learning new things.
I also have a depressing story about the time I got a load of ETH in the presale and sold when it shot up to $30, but Ill save that for another day!! I agree about staying informed but for me its always been a hobby and interest thing, its just that my hobby is now worth more than my savings!!
Hello fraind i follow u and upvote your top 3 post so you also follow back and upvote my top 3 post plez fraind...
Interesting article!
500k$ does seem a bit far fetched, but then again, you never know :)
I think btc will enter a bear market in q4 2017. Read my latest post about it
I would love to hear your opinion on it :)
500k may sound far fetched but its only 100x 5k, which we hit recently. 5-6 years ago btc was trading around the $3 mark, so we've already had gains of around 1666x over the past 5-6 years. Not saying it will happen, just that its possible.
Congratulations @grizgal! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @grizgal! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPNice post...have you considered time loving some bitcoins? You can add python script to do so. Just be careful to not mistakenly enter the year 2,270 rather than 2,027!
I have heard of this but I’ll give it a miss. If John mcafee is right, I’ll cash out in 3 years and retire. I don’t think I could cope going to work everyday knowing I had millions in btc that I could t touch for years!!
I’ve learnt restraint, although it’s difficult. I also sold my presage ethereum too soon but you live and learn. At the time it could easily have dropped to zero! I still made a packet just not enough to retire on.