Today is a great day for bitcoin. On that ‘other’ sub, everyone is acting like their dog just died.

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This is a little bit annoying. I have been a steady bitcoin investor since early 2013. I bought my first bitcoins back then for about $80 apiece.

I got spooked once and sold, and then sold one more time when my 'friends' told me I was stupid not to take my profit off of the table. Since then, I have just tried to increase my position, at least within my own personal risk tolerance profile.

I didn't buy bitcoin when they were worth pennies or even the scandalous price of $3. I got some cheap at sub-$100 prices, but my dollar cost average over the past four years was more than three times that.

I was only briefly underwater, and I certainly watched my paper-profits disappear in flash crashes time and time again.

If bitcoin is a get rich quick scheme, I'm not doing it right. I never bought into alt-coins. None of them. Though I would consider using them if they served a particular utility that I needed.

Look, the price might crash tomorrow. No reason to think it won't. It always has before.

There's no proof this ETF is going to happen or, even if it does, it won't lead to yet more boom and bust cycles.

But I have never seen so many people so miserable because their investment has grown by 300% in a little over year. I guess Roger Ver has been a bitcoin millionaire for so long, he can't let any of us who bought our bitcoins with our hard earned money as a long-term investment be happy for a moment.

I used to get tired of the shit-posting about how 'we're all gonna get rich'. I never bought into that. Unless you bought thousands of bitcoins at pennies apiece, which certainly some did, that isn't the case for most of us.

Most of us were under-water at times, and had to ride through the scourge of rage-quits, exchange hacks, scams, China bans bitcoin scares, and all manner of boogey men.

And, there's no reason to think the ride is anywhere near over.

It might all collapse tomorrow.

But, can I please just enjoy today?


submitted by /u/jratcliff63367
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1 Bitcoins

Bitcoin News and Search

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