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RE: As the price plummets, others are setting up for the future

in #cryptocurrency8 years ago (edited)

Lemme tell ya: my biggest Bitcoin transaction was back in 2013. It was 55+ BTC and it was worth about $7.6K at the time of transmission. The majority of the funds weren't even mine, I was basically the escrow agent for it because I was very active and trusted in the Bitcoin and crypto community to do these kinds of things due to a history of helping to organize a bunch of group purchases of mining equipment and setting up mining pools without taking off with everyone's crypto (the Blockchain ledger came in handy to prove my honesty).

Even after all the beatings BTC has taken in the last few weeks, and after Mt. Gox, after hacks of other exchanges, with a background of community strife and uncertainty: that 2013 $7.6K transaction would've been $110-115K if it was just held by all the owners and if they ignored it until now.

For the portion of my cryptos that not being sold or used to buy something, those are the part of my crypto investments that did the best:*

So some of the best advice I can give based on years of investing and 4 years of mining, using, and buying cryptos is: be patient. Rome wasn't built in a day. My best crypto investments were blue chip or mid cap coins that I just left alone for several years.