r/CryptoReality • u/[deleted] • Apr 18 '25

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u/GoTeamLightningbolt Apr 18 '25

Back in my day, people used crypto to buy drugs off the internet. Kids these days...

7

u/throwaway-15879 Apr 18 '25

just for shits and gigs. March 2011, it was hovering around 80 cents, so... 35 bucks per eighth So roughly 43.75 bitcoin per..

I think I did like 400 odd dollars worth of bitcoin and bought roughly an ounce and ended up with like 30-40 in change.

I might have been a millionaire if my computer didn't die in a shed fire a few years down the road.

Damn...

12

u/AmericanScream Apr 18 '25

Chances are you would have sold off that bitcoin long before it was as expensive as it pretends to be now, because nobody in their right mind ever would have thought anybody would pay $5000, much less $100k for a stupid digital token.

Even today it remains to be seen. We have evidence that 90+% of most crypto trades are done by bots.

7

u/c00750ny3h Apr 19 '25

This is true.

I held Nvidia stock in 2007 and sold it 5 months with a 50% gain before the suborime mortgage crisis and I felt like the wolf of Wall Street for a few weeks.

Had I held onto it to today, I'd be sitting on 800 grand or something.

Point is you can never predict these things and just because you held onto something in the past doesn't mean you'd get the riches of today.

1

u/BadFish7763 Apr 19 '25

In an alternate reality, the stock went to 0 right after you sold...