[Rainger99]

There are reports that an anonymous person who made a $7,800 investment in bitcoin in 2011 has just touched their wallet for the first time in 14 years…

He’s now worth $1.1 BILLION.

At the start of 2011, a bitcoin was only $.30 and only reached the dollar mark in February 2011!! It is $109,000 today. I wish I had put $10 in bitcoin back then.

And can anyone explain it??

[manaboutown]

It the OP is alluding to another person Bill Miller has a similar story. Bill Miller: AMZN & Bitcoin Billionaire | A Simple Model

[Arctic Fox]

Originally Posted by Rainger99

There are reports that an anonymous person who made a $7,800 investment in bitcoin in 2011 has just touched their wallet for the first time in 14 years…He’s now worth $1.1 BILLION. At the start of 2011, a bitcoin was only $.30 and only reached the dollar mark in February 2011!! It is $109,000 today. I wish I had put $10 in bitcoin back then. And can anyone explain it??

Sounds apocryphal to me: bought at the beginning; cashed out at the all-time-high. Any time an "investment" performs well there are reports of the few who, supposedly, made millions, but no mention of the many who bought high and sold low. Or the 99% of high-risk investments that disappear, worthless.

Stick with what you know, and sleep easy at night.

[Malsua]

Originally Posted by Rainger99

There are reports that an anonymous person who made a $7,800 investment in bitcoin in 2011 has just touched their wallet for the first time in 14 years…

He’s now worth $1.1 BILLION.

At the start of 2011, a bitcoin was only $.30 and only reached the dollar mark in February 2011!! It is $109,000 today. I wish I had put $10 in bitcoin back then.

And can anyone explain it??

There's a few things that have happened to bitcoin since 2011.

The first being that bitcoin had numerous forks since then. Each one entitling the owner to equivalent in Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin SV. That will add some life changing amounts of money right there, but the granddaddy of BTC would be north of 2 billion.

Bitcoin will continue to rise. If you buy even a few hundred dollars worth now and hand it to your children or relatives, by the time they retire, it will likely have appreciated significantly.

It's now owned by all the major players in finance. It's not going away.

You don't have to buy whole coins, you buy fractional pieces called Satoshis. Right now you can buy 913 Satoshis for one US dollar.

In 10 years, it'll probably be about 91 Satoshis for 1 dollar.


I'm one of the founding members of the Crypto Currency Club in The Villages. We meet every Saturday morning virtually except for the first Saturday of the month because there is a club meeting at Ezell on that prior Thursday.

[Rainger99]

Originally Posted by Arctic Fox

Stick with what you know, and sleep easy at night.

If I had invested $10 back then, I could have slept easily at night! And I would be sleeping even better now!

[Arctic Fox]

Originally Posted by Rainger99

If I had invested $10 back then, I could have slept easily at night! And I would be sleeping even better now!

...but probably in some snooty gated community, not in The Villages, and you would have missed out on all of the friends you've made here :-)

[Topspinmo]

You could say same thing about Berkshire Hathaway, Toyota, and dozens others. The age old problem? Fore thought, and have money to make money. Majority didn’t have extra cash laying around to take gamble when they had mouths to feed and bills to pay. I wish I had brought gold Krugerrands in middle 70s when they was 100 dollars coin. But, being in military has trouble just surviving monthly bills .

[RICH1]

Bernie Madoff wished he thought of it first.. Somebody always get caught holding the bag. Buying an idea is Genius

[Rwirish]

As Warren Buffet has said many times stay away.

[RoseyRed]

Originally Posted by Malsua

There's a few things that have happened to bitcoin since 2011.

The first being that bitcoin had numerous forks since then. Each one entitling the owner to equivalent in Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin SV. That will add some life changing amounts of money right there, but the granddaddy of BTC would be north of 2 billion.

Bitcoin will continue to rise. If you buy even a few hundred dollars worth now and hand it to your children or relatives, by the time they retire, it will likely have appreciated significantly.

It's now owned by all the major players in finance. It's not going away.

You don't have to buy whole coins, you buy fractional pieces called Satoshis. Right now you can buy 913 Satoshis for one US dollar.

In 10 years, it'll probably be about 91 Satoshis for 1 dollar.


I'm one of the founding members of the Crypto Currency Club in The Villages. We meet every Saturday morning virtually except for the first Saturday of the month because there is a club meeting at Ezell on that prior Thursday.

how can I get the details of the Saturday morning virtual meeting?

[SaucyJim]

Originally Posted by Arctic Fox

Sounds apocryphal to me: bought at the beginning; cashed out at the all-time-high. Any time an "investment" performs well there are reports of the few who, supposedly, made millions, but no mention of the many who bought high and sold low. Or the 99% of high-risk investments that disappear, worthless.

Stick with what you know, and sleep easy at night.

Maybe he knew the principles behind bitcoin. If I stuck with what in knew, which was dollar cost averaging, I’d not be generating income today trading weekly put spreads.

START with what you know, LEARN, & GROW. That’s my motto.

[SaucyJim]

Originally Posted by Arctic Fox

...but probably in some snooty gated community, not in The Villages, and you would have missed out on all of the friends you've made here :-)

Hmm. To some, we live in a snooty, gated community.

Just a thought.

[SaucyJim]

Originally Posted by Rwirish

As Warren Buffet has said many times stay away.

The major portion of my portfolio is in income-producing stocks, while a very small portion (2% or less) gets thrown into high-risk, most-likely-to-fail ventures. Simply staying away seems short-sighted.

But I am not claiming to know more than Master Buffett.

[SaucyJim]

Originally Posted by RoseyRed

how can I get the details of the Saturday morning virtual meeting?

Ditto. I’ll search the Events page and see what I can see.

[Cuervo]

I know lots of people made a lot of money and lots of people also lost a lot of money.
I'm one of those who believe it the old idiom, "If it sounds too good to be true it usually is".
To me this sounds like a pyramid scheme on steroids.
Though the dollar does not have the supporting value it once had, it still does have value.
Bitcoin's value as I understand it is based on demand, which means if the demand diminishes so does the value.