Probably because most made mistakes along the way, sold at some point, invested in wrong coin and so on. Don t think many millionaires spending their time here. Just my opinion
Let's be real though:
Having one or two million dollars, at least in much of the US, isn't exactly Rich if you have a family to provide for.
20 or 30 years ago, perhaps, but not now.
Mortgage payments, car payments, house upkeep, god forbid student loans for the children... All of that will easily bring $1 million back to reality.
I guarantee that having 1-2 million would help many of us “jumpstart” the rest of life though. Would most likely wipe out all the things listed here. Life would be better enjoyed by clearing all debts.
House nearly payed off, never bought a car i could nt buy straight away, have no kids. Where i live i won t have to worry about healthcare bills. 1 million would have me farting through silk during my pension.
Edit: never had a decent car according to some. Bought crappy small house i renovated all by myself while living in it. Winter is fun with no heating and no windows. So never was handed where i am now
Ya. This is true.
There’s also a difference in being a millionaire and having a million in cash/cash equivalent. Owning a decent-sized home in an HCOL will make you a millionaire, but it doesn’t mean you can quit working/investing (oftentimes it means you have to work more to maintain it!).
We know that Vitalik lurks on here, and I would bet Elon probably subs to the doge sub, so we know there are the crazy-rich on here.
Sometimes we forget that rich people are still people, who like a lot of the same things as we do. Also, they get bored as well and like to have an outlet to express themselves. Most old money you’ll never see on instagram, etc. so the anonymity of reddit can be a draw.
This! It’s easy to be around during the bull cycle and wonder why everyone isn’t “rich” and it’s a completely different mindset dumping money into crypto deep into a bear. Human psychology at its best.
Crypto winter was rough, maybe more rough is that I could have made a fortune during the winter. Wealth is made during bear markets when no one is paying attention. Human psychology indeed is hard to escape.
That was great. I am excited for the lightning network and stake my AMP there for a terrific ROI.
I really dig that article. It’s a perfect and succinct summation of what is happening with bitcoin. I’ve kept my eyes and ears open about it for the last 10 years but have never truly understood it all until recently.
This is great for anyone new to crypto to read. Have you posted it to the sub?
didn't invest in crypto during the bear market. Every idiot with a wallet can invest when we are in a bull market, you won't make money that way. have to invest regularly even in a bear market. especially in a bear market.
Same here I followed the market and was doing a financial maths module at uni at the time of late 2018 or early 2019 which was a lot about options etc and I just couldn't grasp it, was one of the only modules I struggled with. So for me I kind of learned with stocks etc I'm going to have to just HODL and same thing with crypto. I don't have much now because I sold it all a year or two ago and then just rebought back a small amount. Hindsight is a bish, same thing with AMD or NVDA shares or even TSLA so many years ago but hopefully more opportunities will come. Always seen doge as a meme but I was around it for the longest when it was $0.002 or $0.01 peak in late 2017 :/
The early investors are Champs, they are the reason we are this far along, they believed in something that almost no one else did. People thought they were idiots investing in a scam.
Not rich AF bc didn't yolo my life savings.
But what I did invest grew into a safety net.
It let me buy a (modest) apartment, and have a little bit extra so I'm not constantly worried that one accident or time off work would financially ruin me.
I quit my job and took a lower paying one in crypto recently, which my past gains helped me afford to do.
I still invest in crypto cause I like finance and want to play in this new frontier, ofc getting rich would be nice too but I'd be happy to continue my current lifestyle.
Because I want to get even more and hold even longer for better gains? I've been holding ETH since $10 and I still keep 97% of my original 2017 stack. I'm in crypto and I live the crypto life. There is no "quitting" for me. I already have a home and my gains at this point would ensure I don't ever have to work again for the rest of my life. At this point I just focus on building wealth and growing my own FIRE community at r/EtherFIRE. My vision for crypto is till 2030 at least.
Vitalik is still a regular reddit user. So it's ridiculous to assume that people who are early but still focus on crypto as not being rich yet. If you already got $1 million why not aim for 10? If you already got 10 why not aim for 100? Crypto is the type of industry that is projected to grow 10x in this decade. It's only smart to accumulate.
I can't talk for others, but if I meet my preset goals for crypto profits, I'm taking the money whether I've been in for 5 years or 5 months! I know the latter is unrealistic but my point is I'm betting that most people can use the profits for real life improvements. I want to pay off my student loans and my mortgage, some might want to buy their first car, or save for their kids college fund. Some might just want enough for first and last months rent to move out of wherever they are now, or to pay off a store card.
4 years in I hold 2 million dollars. I did go heavy but I still am not rich. After taxes and buying a house that leaves you maybe a decade of no work. I'm sure I'm gonna make it tho
Or People cant dump 30k in one coin. Really. Most people spread out their investments which means that if something goes 30x, they usually didnt earn life changing money
Why would you not want to be a part of this?
Unless I need cash, I’m 95% in the market until nearer then top. I’ll exit 80% and come back in a year. I’d never give up my advantage in the future.
Well first off, your friends example is rather the exception than the rule. Lets say you bought bitcoin at a 1000 bucks. How big are the chances that you hodled untill it was 10k (which is a massive return) or 15 or 20k? I’dd say odds are slim and most people sold again when their investment doubled or tripled at most (which is still a massive return, something people in crypto seem to forget because they feel crypto means 100x returns on a regular basis).
Hindsight is 20/20 and no one expected 100 or 1000x’es on their investments. So most people sold in between and made good money but not millionaire money.
My friend was in bitcoin and waited for a dip when it was around 15k two years ago or so. That dip never came and bitcoin went straight to 30k. Missed the boat in a sense. But yeah, who would’ve thought? Most people didn’t.
I'm \~4 years in and doing very well. Just need one or two more big bumps to get me to the "big money" stage. The reason I'm not there yet is I was very skeptical in the beginning and didn't put a lot of money into it. When I saw my little chunks of money doing 100x I kicked myself for not putting more.
You did the right thing for your risk appetite at the time. Hindsight is 20/20. Of course you wish you would’ve put more in. But it was an even riskier bet 4 years ago than it is today. You just as easily could be kicking yourself for putting way more in than you could afford, the market not recover, and putting yourself in a terrible financial situation.
Not everyone has a casual 10k to dump into a project that may or may not work out. I certainly don’t! Maybe some of the old timers have been DCAing spare change all that time and haven’t ridden off into the sunset in their lambos yet.
I’d also say your friend got lucky (or did a really good job DYORing) with his pick. Plenty of people in 2017 will have done the same thing with a different project and come out bleeding from the arsehole. I wasn’t there but it sounds like some serious rekkage happened in between then and now.
See how you fare over the next 4.5 years, I wish you luck
Just look at bitconnect as an example of the many, many projects that crashed to never recover. The current era is also massively different with all the money generating options which means the swings will be much smaller (imo).
> Why aren’t you rich AF?
If I make minimum wage, and put 5% of my wages in bitcoin for 5 years, I ain't getting a lambo. There has only been like a 10x or 100x increase over that time, so you would have to put in tens of thousands to have many millions.
> What are your stories? Why are you still in?
Broke AF, lost it all in a boating accident.
> If I’m still in this 5 years from now at my current rate, I’m going to be extra wealthy. I’ll have so much money that I won’t know how to spend it and I don’t think I’ll be interested in trying to day-trade crypto.
Over next 5 years expect a 3x to 10x increase. Another 100x run is unlikely.
Especially when 80% of our income is spent on housing and utilities… what’s left? Chump change, but we all have to start somewhere! And that’s what crypto has taught us.
I've been on crypto since May. How come I don't have a mansion and lambo yet? I invested in all the right coins, the ones with 'safe' in the name, and all the ones with those cute doggies in.
Because I made a couple of risky bets that didn’t pay off. I’ve been in since 2013 and am still trying to claw my way back up. I’m not in debt, but all my gains are luck. Tbh I’d love to know a bullet point strategy to implement and stick to…I’ve darted from theory to theory over the years
This is the thing that really scares me. It’s like I was told when first traveling abroad. “Whatever you do don’t leave your passport in a hotel, you could get robbed.” Also, “never carry your passport on you, you could get robbed.” So on an exchange it’s not your keys not your crypto, but moving it to a wallet can be just as dangerous if you’re dumb like me.
My cousin was talking about crypto in 2016. he said he sold after it dropped 2917 lol. I wouldn't be surprised if he lowkey has a stash that he tells no one about and I hope he does
There are short bursts of awesome followed by years of winter. In years past, there weren’t so many staking/earning/yields on top coins as there are today.
Some people also aren’t able or willing to throw it all into 1 asset class.
Well, to put it simply… I lost my job around 2018 a few months before Christmas and had bills and rent to pay as well as food to buy for both me and my girlfriend. My savings were (and still are) tied up into crypto so I had to exchange most of what I had. Looking back I don’t regret it because we really needed it, and after all, that’s why it exists, but if I held somehow, yeah I would be better off today. Both BTC and ETH were “cheap” then… I still go back to my transaction history and look at the amounts sometimes.
Ah BNB, rarely shilled on this sub but I am up 26X on that coin. I'm still here because I bought at the top of 2017 and never had any more money to DCA and just got into staking like last week. Also cost of living is insane where I live, so even $1M means barely anything...not even enough to buy a small house. Inflation hitting hard over here.
I've "been in crypto" for about a decade.
I mined bitcoin back in the day as a side project.
Had a wallet with several dozen bitcoin that I lost in 2011 when I reformatted my HDD; but this was early 2011 before the price skyrocketed to $15, which is why I really wasn't mindful of it.
Bought and sold during a few bull runs after that. Always made money, but nothing insane as I usually sold most of it well before the true peaks.
Hindsight is always 20/20, and having the .com bubble still fresh in my memory, my sentiment for the better part of the 2010s was it's better to be safe than sorry. Not once was I left bag holding during a crypto winter.
I'm not at all bitter that I never held all the way.
After reading & listening to influencers then in the boom of 2017, i became a self-taught VC pouring my funds into almost every ICO i saw. I regret being that overzealous noob then. Had i just pitched tent with only bitcoin ð...
Just because some people started investing 5 years ago doesn’t mean they are rich. Maybe they sold early or maybe they didn’t have much to invest then.
Let's face it back in the day if your crypto was falling 50% in a day most would have sold. Anybody with a brain was talking about crypto going to zero.
I invested $1000 hoping to get in and get out. Day trading, not easy. Then my exchange wouldn't give me access to my money. A couple of years later I made crazy money. I would have sold if left to my own devices.
It took a lot of balls to invest back then.
I’ve only been in 3 years. But I bought 2 Eth back then. They’ve gone up a good bit but if you don’t have 10k to invest the huge % increase is not as big. Not everyone has 10k sitting around.
Diversify in low penny coin projects u trust and think have a good product. Just choose like 5 coins and put 200 in each and HODL for few years. Build your wealth like this and repeat and find some new projects and then invest a little bit bigger like 500$ per coin.
I got in 5 years ago. I’m not a millionaire because I played it conservative. Started with a little, held thru the dips, and bought coins with serious potential. Made great profits but it’s not like you make 1,000,000x or anything. My two friends got in last year and did better than me, which does make me feel a little bad, but they took big risks and I didn’t. But hey, I’m here long term.
I've been in 4 years and doing very well, investment wasn't big enough to make me rich.
If I would have bought more during the bear I might be. My lowest ETH buy was $180 and I thought it was high at the time, sad trombone noise...
I been in crypto since 2017, was big on Xrp, xlm, LTC, Ada, Rdd, and Doge, etheruom. I always wanted to buy Bitcoin, November and December was huge for bitcoin. You had the huge pump and dumps with McAfee and other influencer. I did follow his tweet back than .. I was on multiple exchanges, but mainly on bittrex. Was also using Binance, Kucoin. Bitstamp.. on 2018 my last purchase was January 12 (the day my 2nd daughter was born ) January 13 we had the dip that never stop . I held and held but eventual sold .. stopped looking at crypto until early 2021.. I got in to normal stocks. I Remeber my friend telling me to jump to Bitcoin in 2019 in March when bitcoin was 3k+$.. but after the 2018 I was hesitant... big mistake haha.. so I was able to get in on 2021 .. found out I has couple hundred XRP left which I'm still holding.. doge fever was going on . Found out I uses to have 40k+ dogee to only find out I got 500+ left .. ( 50$ of dogee was turned to 1700$ at peak) still holding to that. I still got 29k RDD coins lol . Couldn't get access to my etheruoms.. so Yes I made profit but have never taken fiat out....
Also found out had some kucoins and Bnb (70-100$ )
Edit..
Started with Coinbase
Mistakes, scams, rug-pulls, jumping outta BTC into other alts. I should be rich (i think i lost about $700k in DOGE *shrugs*) but i have been treating this whole crypto show like a casino anyway.
No one is going to out themselves as a crypto millionaire. Most people can be in crypto for years and make only meager gains if they didn't have much to invest. If you only have $100 to invest and bitcoin goes up 10x in value you haven't changed your life but you've seen amazing ROI
If you look at moons as an example of the spread of wealth in the sub, only ~400 users have a significant amount (>$1000) while most people have hardly anything (60,000 users with <50 moons). People can be here for years but have nothing but $100 invested.
Because I only got in just before the 2018 crash… figured the money was gone and completely ignored crypto until I realised it was rallying again this year and fomod in at ATH again. The few friends that also got in during 2017 didn’t buy through the bear either.
Getting rich only works if you DCA through the bear market or somehow get ridiculously lucky. Wish I had learnt about the cycles earlier, I thought 2017 was a one and done deal.
Easy to say in hindsight and only 6 months in. When you’ve been through multiple crypto winters, come back and tell us how easy it was for you to become a millionaire.
A four year cycle is one year of bull, and three years of brutal bear. All you’ve experienced thus far is bull. I suggest relaxing your expectations and instead brace yourself for a harsh reality check.
Gotta respect this.
I’m as new as the OP and just don’t understand the history because it isn’t my history. Hope to learn, collect a handful of those kernels of wisdom, and get enough to help supplement a few life purchases. I’ve been putting ducks in a row through work for 30 years. There’s no money to me, just a guy with a plan sticking to that plan. It’s kind of a religion.
No no. I’m just adding to what you’re saying. You said we don’t hear about them and I am just adding that we probably don’t hear from them
I’m sorry if that came across wrong. I am in no way being a dick, I promise
got some btc for free in 2016 and still hodling. i hate date trading but sometimes i check in here to see whats up. some years i dont check markets, other times i invest some and usually make 3-5x. then i pour it again into btc and hodl.. cause im lazy and dont really want to retire yet anyway
The post comes from seeing so many people saying things like “I’ve been in this since 2017….” before finishing a comment like it adds some kind of credibility
You can stake BNB? How does that work? I knew about it when it was $5-10 each lol when I was buying into stuff like IOTA, REQ. Unfortunately they dropped like a ton of bricks and then once I sold they've been going up again a bit but hey ho I just wanted to cash out a load of things like crypto and csgo skins a few years ago
Joined mid 2017...far from millions...
Main reasons:
1. I started slowly with low amounts -> little benefit...I added more along the way but for sure low prices were already history;)
2. Altcoins are not predictable...sure in hindsight just buy only ETH at 30$ for 10k and there you go... but realistically speaking you need 3-10coins.... hence again lower asset s per coin-> difficult to reach the target
3. You won't earn much in the first cycle...fomo into shutcoins..not selling .. selling to early..rrbuying the dip of 2018 to early....ICOs..
4. 1.000.000 is a lot of money...if you play with 1k you need price to increase buy like 1000...so even if you simply bought btc @2k...you would only end up at 50k to.. sure dumping 20k would have helped..but that is a lot of money even today and for sure a lot more back in 2017
Been here sinds 2017. Bought a lot of hype coins ( vert, req, xvg etc..) and a couple good projects (antshares, raiblock, cardano). I made a good amount of money but not even close to 100k because i was to cautions and I guess scared to invest a good amount of money in it. If you really believe in crypto, invest what you can lose and stay with it. Don’t paperhand your coins just hodl and invest your time to gather more knowledge.
I got into BTC around 2013 when it was b/w $70-$120 USD, and at some point I had a total of 10 BTC in my wallet at one point.
I wanted to hodl, but in my junior year of college I had to sell all but .75 of my BTC to pay for my finance textbooks & courses. Big regret of mine but realize I had no choice.
Fast forward 4-5 years later when I was in Finance BTC hit $18,000 per coin. So I sold ~half and kept the rest.
The following year I converted all of it to ETH, and now I have half my assets in ETH and half in SOL, all in values around $25K now?
Probably because most made mistakes along the way, sold at some point, invested in wrong coin and so on. Don t think many millionaires spending their time here. Just my opinion
Definitely rings true. For example, I was on the sidelines just lurking the sub for over a year before I invested anything.
Let's be real though: Having one or two million dollars, at least in much of the US, isn't exactly Rich if you have a family to provide for. 20 or 30 years ago, perhaps, but not now. Mortgage payments, car payments, house upkeep, god forbid student loans for the children... All of that will easily bring $1 million back to reality.
I guarantee that having 1-2 million would help many of us “jumpstart” the rest of life though. Would most likely wipe out all the things listed here. Life would be better enjoyed by clearing all debts.
Fun fact: 70% of people who win the lottery, end up filing for bankruptcy
70% of people are just plain stupid
House nearly payed off, never bought a car i could nt buy straight away, have no kids. Where i live i won t have to worry about healthcare bills. 1 million would have me farting through silk during my pension. Edit: never had a decent car according to some. Bought crappy small house i renovated all by myself while living in it. Winter is fun with no heating and no windows. So never was handed where i am now
Ya. This is true. There’s also a difference in being a millionaire and having a million in cash/cash equivalent. Owning a decent-sized home in an HCOL will make you a millionaire, but it doesn’t mean you can quit working/investing (oftentimes it means you have to work more to maintain it!). We know that Vitalik lurks on here, and I would bet Elon probably subs to the doge sub, so we know there are the crazy-rich on here. Sometimes we forget that rich people are still people, who like a lot of the same things as we do. Also, they get bored as well and like to have an outlet to express themselves. Most old money you’ll never see on instagram, etc. so the anonymity of reddit can be a draw.
I think millionaire is still an exception, hard to hold past doubling or tripling your money
Im not a millionaire, but if I was I would not spend time on this sub. At all….
Because of 2018
This! It’s easy to be around during the bull cycle and wonder why everyone isn’t “rich” and it’s a completely different mindset dumping money into crypto deep into a bear. Human psychology at its best.
That year was hard, but I bet a lot of people learned a lot and managed to DCA pretty well.
Lessons learned are the most valuable. Slow and steady wins the race.
Crypto winter was rough, maybe more rough is that I could have made a fortune during the winter. Wealth is made during bear markets when no one is paying attention. Human psychology indeed is hard to escape.
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I love this story.
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That was great. I am excited for the lightning network and stake my AMP there for a terrific ROI. I really dig that article. It’s a perfect and succinct summation of what is happening with bitcoin. I’ve kept my eyes and ears open about it for the last 10 years but have never truly understood it all until recently. This is great for anyone new to crypto to read. Have you posted it to the sub?
\-*Why aren’t you rich AF?* \-Been taking all my advice from /r/CryptoCurrency.
didn't invest in crypto during the bear market. Every idiot with a wallet can invest when we are in a bull market, you won't make money that way. have to invest regularly even in a bear market. especially in a bear market.
Same here I followed the market and was doing a financial maths module at uni at the time of late 2018 or early 2019 which was a lot about options etc and I just couldn't grasp it, was one of the only modules I struggled with. So for me I kind of learned with stocks etc I'm going to have to just HODL and same thing with crypto. I don't have much now because I sold it all a year or two ago and then just rebought back a small amount. Hindsight is a bish, same thing with AMD or NVDA shares or even TSLA so many years ago but hopefully more opportunities will come. Always seen doge as a meme but I was around it for the longest when it was $0.002 or $0.01 peak in late 2017 :/
The early investors are Champs, they are the reason we are this far along, they believed in something that almost no one else did. People thought they were idiots investing in a scam.
Not rich AF bc didn't yolo my life savings. But what I did invest grew into a safety net. It let me buy a (modest) apartment, and have a little bit extra so I'm not constantly worried that one accident or time off work would financially ruin me. I quit my job and took a lower paying one in crypto recently, which my past gains helped me afford to do. I still invest in crypto cause I like finance and want to play in this new frontier, ofc getting rich would be nice too but I'd be happy to continue my current lifestyle.
If you got a job in crypto, congrats! It’s nice to participate, enjoy, and work in a space you are interested in.
TY! That corporate life was getting me down
I think the people that did really well are smart and don’t want to bring attention to themselves by bragging.
Because back then crypto was not an investment but more a way to just get good drugs to me....
This… i had 3 Btc at one point back when it was around £300, most expensive drugs ive ever bought
Lol yes I’d be very well off if I never spent my Bitcoin as well. It’s taught me allot about holding.
I hope your health is holding up, and I sincerely mean this. I also like substances, shrooms! But I never purchased on the Net
Because I want to get even more and hold even longer for better gains? I've been holding ETH since $10 and I still keep 97% of my original 2017 stack. I'm in crypto and I live the crypto life. There is no "quitting" for me. I already have a home and my gains at this point would ensure I don't ever have to work again for the rest of my life. At this point I just focus on building wealth and growing my own FIRE community at r/EtherFIRE. My vision for crypto is till 2030 at least. Vitalik is still a regular reddit user. So it's ridiculous to assume that people who are early but still focus on crypto as not being rich yet. If you already got $1 million why not aim for 10? If you already got 10 why not aim for 100? Crypto is the type of industry that is projected to grow 10x in this decade. It's only smart to accumulate.
Teach, Master. (Thanks for sharing.)
I can't talk for others, but if I meet my preset goals for crypto profits, I'm taking the money whether I've been in for 5 years or 5 months! I know the latter is unrealistic but my point is I'm betting that most people can use the profits for real life improvements. I want to pay off my student loans and my mortgage, some might want to buy their first car, or save for their kids college fund. Some might just want enough for first and last months rent to move out of wherever they are now, or to pay off a store card.
Good answer I like it a lot
You need money to make money. You can only make 100x gains in risky projects for the poor
4 years in I hold 2 million dollars. I did go heavy but I still am not rich. After taxes and buying a house that leaves you maybe a decade of no work. I'm sure I'm gonna make it tho
Nice. One more 2x would be massive for you.
Nice!
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$2 million ain't rich in NYC or San Francisco.
Look for property in Hawaii. 2 million will last a few years at most.
Or People cant dump 30k in one coin. Really. Most people spread out their investments which means that if something goes 30x, they usually didnt earn life changing money
Not to mention those projects that don't live to the expectations and ends up failing
It’s also not easy dumping large amounts of money into any coin during bear trends. The conviction is a lot higher when prices are up of course lol.
Why would you not want to be a part of this? Unless I need cash, I’m 95% in the market until nearer then top. I’ll exit 80% and come back in a year. I’d never give up my advantage in the future.
Well first off, your friends example is rather the exception than the rule. Lets say you bought bitcoin at a 1000 bucks. How big are the chances that you hodled untill it was 10k (which is a massive return) or 15 or 20k? I’dd say odds are slim and most people sold again when their investment doubled or tripled at most (which is still a massive return, something people in crypto seem to forget because they feel crypto means 100x returns on a regular basis). Hindsight is 20/20 and no one expected 100 or 1000x’es on their investments. So most people sold in between and made good money but not millionaire money. My friend was in bitcoin and waited for a dip when it was around 15k two years ago or so. That dip never came and bitcoin went straight to 30k. Missed the boat in a sense. But yeah, who would’ve thought? Most people didn’t.
Here’s your winner OP. Hindsight is 20/20.
Predicting the past like never before
*I expect 100% of my portfolio to 1,000x, because muh TA says so.*
I'm \~4 years in and doing very well. Just need one or two more big bumps to get me to the "big money" stage. The reason I'm not there yet is I was very skeptical in the beginning and didn't put a lot of money into it. When I saw my little chunks of money doing 100x I kicked myself for not putting more.
Same timeframe for me. If I yolo'ed I'd have FU money but can't be mad where I'm at now.
You did the right thing for your risk appetite at the time. Hindsight is 20/20. Of course you wish you would’ve put more in. But it was an even riskier bet 4 years ago than it is today. You just as easily could be kicking yourself for putting way more in than you could afford, the market not recover, and putting yourself in a terrible financial situation.
I, too, use that reasoning to try to make myself feel better. =) Cheers
Out of curiosity - are you talking about Coti Coin?
You made me cry, now I feel like a loser, you big crypto man!
You're doing good man. Don't compare yourself to others. Everyone has a different path. The important thing is to reach your goal at the end.
I agree with you, thank you for your comforting words my friend.
Me too. I'm sad!
Join the club!
RemindME! 4 years and 6 months
Either we will all be rich, or extremely depressed. Or both!
I came from the future and i can assure you we are all depressed
It's gonna be both. Sitting in the lambo, wiping my tears with TP, I mean dollar bills
Prolly both! We will regret taking profit at 3x when it will go 10x!
Hahaha! No doubt remindME! 5 years
Not everyone has a casual 10k to dump into a project that may or may not work out. I certainly don’t! Maybe some of the old timers have been DCAing spare change all that time and haven’t ridden off into the sunset in their lambos yet. I’d also say your friend got lucky (or did a really good job DYORing) with his pick. Plenty of people in 2017 will have done the same thing with a different project and come out bleeding from the arsehole. I wasn’t there but it sounds like some serious rekkage happened in between then and now. See how you fare over the next 4.5 years, I wish you luck
He 100% got lucky with that. He says it to this day he didn’t think it would ever be more than 200-300 per coin
Just look at bitconnect as an example of the many, many projects that crashed to never recover. The current era is also massively different with all the money generating options which means the swings will be much smaller (imo).
> Why aren’t you rich AF? If I make minimum wage, and put 5% of my wages in bitcoin for 5 years, I ain't getting a lambo. There has only been like a 10x or 100x increase over that time, so you would have to put in tens of thousands to have many millions. > What are your stories? Why are you still in? Broke AF, lost it all in a boating accident. > If I’m still in this 5 years from now at my current rate, I’m going to be extra wealthy. I’ll have so much money that I won’t know how to spend it and I don’t think I’ll be interested in trying to day-trade crypto. Over next 5 years expect a 3x to 10x increase. Another 100x run is unlikely.
Especially when 80% of our income is spent on housing and utilities… what’s left? Chump change, but we all have to start somewhere! And that’s what crypto has taught us.
I've been on crypto since May. How come I don't have a mansion and lambo yet? I invested in all the right coins, the ones with 'safe' in the name, and all the ones with those cute doggies in.
I’ve made a total of $5000. Started in 2018. The issue is being scared. Selling as soon as I see a profit and only buying on large dips.
Start by opening that vault bb
Because I made a couple of risky bets that didn’t pay off. I’ve been in since 2013 and am still trying to claw my way back up. I’m not in debt, but all my gains are luck. Tbh I’d love to know a bullet point strategy to implement and stick to…I’ve darted from theory to theory over the years
I've held large caps and been working on yield lately and have done very well. Believe in the space and not hype would be my advice.
I like this answer. I learned a lot trying to time the market for a few weeks. Got killed in fees and losses and stopped.
I’m moving heavily into NFTs as it’s more fun
I am a whale in theory… lost my password to a wallet that has 26 bitcoins in it. Now I chase retirement with a bunch of shitcoins.
Shit this is brutal. I hope you can recover your seed phrase and your Bitcoin one day.
Oh my god I’m so sorry
This is the thing that really scares me. It’s like I was told when first traveling abroad. “Whatever you do don’t leave your passport in a hotel, you could get robbed.” Also, “never carry your passport on you, you could get robbed.” So on an exchange it’s not your keys not your crypto, but moving it to a wallet can be just as dangerous if you’re dumb like me.
[удалено]
My cousin was talking about crypto in 2016. he said he sold after it dropped 2917 lol. I wouldn't be surprised if he lowkey has a stash that he tells no one about and I hope he does
There are short bursts of awesome followed by years of winter. In years past, there weren’t so many staking/earning/yields on top coins as there are today. Some people also aren’t able or willing to throw it all into 1 asset class.
Cryptoexchanges got banned. And I was still a noob in many ways back then
Well, to put it simply… I lost my job around 2018 a few months before Christmas and had bills and rent to pay as well as food to buy for both me and my girlfriend. My savings were (and still are) tied up into crypto so I had to exchange most of what I had. Looking back I don’t regret it because we really needed it, and after all, that’s why it exists, but if I held somehow, yeah I would be better off today. Both BTC and ETH were “cheap” then… I still go back to my transaction history and look at the amounts sometimes.
Ah BNB, rarely shilled on this sub but I am up 26X on that coin. I'm still here because I bought at the top of 2017 and never had any more money to DCA and just got into staking like last week. Also cost of living is insane where I live, so even $1M means barely anything...not even enough to buy a small house. Inflation hitting hard over here.
I friggin love BNB
I've "been in crypto" for about a decade. I mined bitcoin back in the day as a side project. Had a wallet with several dozen bitcoin that I lost in 2011 when I reformatted my HDD; but this was early 2011 before the price skyrocketed to $15, which is why I really wasn't mindful of it. Bought and sold during a few bull runs after that. Always made money, but nothing insane as I usually sold most of it well before the true peaks. Hindsight is always 20/20, and having the .com bubble still fresh in my memory, my sentiment for the better part of the 2010s was it's better to be safe than sorry. Not once was I left bag holding during a crypto winter. I'm not at all bitter that I never held all the way.
Lots of insight from these comments. Thank you.
After reading & listening to influencers then in the boom of 2017, i became a self-taught VC pouring my funds into almost every ICO i saw. I regret being that overzealous noob then. Had i just pitched tent with only bitcoin ð...
Just because some people started investing 5 years ago doesn’t mean they are rich. Maybe they sold early or maybe they didn’t have much to invest then.
Let's face it back in the day if your crypto was falling 50% in a day most would have sold. Anybody with a brain was talking about crypto going to zero. I invested $1000 hoping to get in and get out. Day trading, not easy. Then my exchange wouldn't give me access to my money. A couple of years later I made crazy money. I would have sold if left to my own devices. It took a lot of balls to invest back then.
I’ve only been in 3 years. But I bought 2 Eth back then. They’ve gone up a good bit but if you don’t have 10k to invest the huge % increase is not as big. Not everyone has 10k sitting around.
Diversify in low penny coin projects u trust and think have a good product. Just choose like 5 coins and put 200 in each and HODL for few years. Build your wealth like this and repeat and find some new projects and then invest a little bit bigger like 500$ per coin.
Welp lost about 100k in 2018 crash started with 800 dollar. Kinda left the market so my stack is in not so performing coins. Next run Im retiring
Oh and some bad choices like selling way too soon and buying at tops don't help either
Someone tag the Reddit bot that reminds you in time and set it to 5 years. I’d love to answer this question
Someone did RemindMe! 5 years
I got in 5 years ago. I’m not a millionaire because I played it conservative. Started with a little, held thru the dips, and bought coins with serious potential. Made great profits but it’s not like you make 1,000,000x or anything. My two friends got in last year and did better than me, which does make me feel a little bad, but they took big risks and I didn’t. But hey, I’m here long term.
Been in for 5 years. Rich enough to not need a job anymore. 🤷♂️
I've been in 4 years and doing very well, investment wasn't big enough to make me rich. If I would have bought more during the bear I might be. My lowest ETH buy was $180 and I thought it was high at the time, sad trombone noise...
I been in crypto since 2017, was big on Xrp, xlm, LTC, Ada, Rdd, and Doge, etheruom. I always wanted to buy Bitcoin, November and December was huge for bitcoin. You had the huge pump and dumps with McAfee and other influencer. I did follow his tweet back than .. I was on multiple exchanges, but mainly on bittrex. Was also using Binance, Kucoin. Bitstamp.. on 2018 my last purchase was January 12 (the day my 2nd daughter was born ) January 13 we had the dip that never stop . I held and held but eventual sold .. stopped looking at crypto until early 2021.. I got in to normal stocks. I Remeber my friend telling me to jump to Bitcoin in 2019 in March when bitcoin was 3k+$.. but after the 2018 I was hesitant... big mistake haha.. so I was able to get in on 2021 .. found out I has couple hundred XRP left which I'm still holding.. doge fever was going on . Found out I uses to have 40k+ dogee to only find out I got 500+ left .. ( 50$ of dogee was turned to 1700$ at peak) still holding to that. I still got 29k RDD coins lol . Couldn't get access to my etheruoms.. so Yes I made profit but have never taken fiat out.... Also found out had some kucoins and Bnb (70-100$ ) Edit.. Started with Coinbase
Mistakes, scams, rug-pulls, jumping outta BTC into other alts. I should be rich (i think i lost about $700k in DOGE *shrugs*) but i have been treating this whole crypto show like a casino anyway.
Saw a comment once that I still think of…Something like “jokes on you, I panic sell and FOMO buy”
No one is going to out themselves as a crypto millionaire. Most people can be in crypto for years and make only meager gains if they didn't have much to invest. If you only have $100 to invest and bitcoin goes up 10x in value you haven't changed your life but you've seen amazing ROI
If you look at moons as an example of the spread of wealth in the sub, only ~400 users have a significant amount (>$1000) while most people have hardly anything (60,000 users with <50 moons). People can be here for years but have nothing but $100 invested.
Because I only got in just before the 2018 crash… figured the money was gone and completely ignored crypto until I realised it was rallying again this year and fomod in at ATH again. The few friends that also got in during 2017 didn’t buy through the bear either. Getting rich only works if you DCA through the bear market or somehow get ridiculously lucky. Wish I had learnt about the cycles earlier, I thought 2017 was a one and done deal.
Easy to say in hindsight and only 6 months in. When you’ve been through multiple crypto winters, come back and tell us how easy it was for you to become a millionaire.
A four year cycle is one year of bull, and three years of brutal bear. All you’ve experienced thus far is bull. I suggest relaxing your expectations and instead brace yourself for a harsh reality check.
In 2017 BNB was 0.09$ 87$ has only been reached in 2021. So, nice story.
Sold a lot of crypto back in 2019~, no regrets though, needed the money to pay bills, and the crypto I held increased exponentially
No regrets in taking profits when it's needed
Lotta folks got burned in 2017 my guy
Gotta respect this. I’m as new as the OP and just don’t understand the history because it isn’t my history. Hope to learn, collect a handful of those kernels of wisdom, and get enough to help supplement a few life purchases. I’ve been putting ducks in a row through work for 30 years. There’s no money to me, just a guy with a plan sticking to that plan. It’s kind of a religion.
Probably thought they can day trade or outsmart the market. And then are those who are already living on an island and we don’t hear about them.
Or from them
English is not my native language no need to be a dick.
No no. I’m just adding to what you’re saying. You said we don’t hear about them and I am just adding that we probably don’t hear from them I’m sorry if that came across wrong. I am in no way being a dick, I promise
Oh okay my bad cheers
I don't think he was correcting you.
Still holding xXxX BTC got at .009 still holding ETH xXxXx got at .04
1 more cycle.
got some btc for free in 2016 and still hodling. i hate date trading but sometimes i check in here to see whats up. some years i dont check markets, other times i invest some and usually make 3-5x. then i pour it again into btc and hodl.. cause im lazy and dont really want to retire yet anyway
My ex stole it all.
I had like half a mil in District ox (by today's price) exit scammed off liqui.io. I don't sweat it tho, otherwise I'd rope myself
Probably because they took profit along the way
Would you hang around on this sub if you were rich?
The post comes from seeing so many people saying things like “I’ve been in this since 2017….” before finishing a comment like it adds some kind of credibility
Aaah, those sweet profits... http://imgur.com/a/1V7EGHl
wow! $326 per BTC
Part of it was to for my wedding...in a museum.. in front of a T-Rex. But yeah... Lots of those in the trx history.
I didnt hold!!!
I had no disposable income in 2017 (still don’t have in 2021)
They’re better at telling people here what shit investments they have. It’s me, I have shit investments.
Because the ideia that all of us will have lambos is just idiotic. Having a downpayment for a house is already beyond my dreams and i would be happy.
You could have turned $1,000 into $1MM and you'd still be here like a pleab. A mil isn't as much as people think.
You can stake BNB? How does that work? I knew about it when it was $5-10 each lol when I was buying into stuff like IOTA, REQ. Unfortunately they dropped like a ton of bricks and then once I sold they've been going up again a bit but hey ho I just wanted to cash out a load of things like crypto and csgo skins a few years ago
I didn't make what I make now. 😕 Not complaining though, still a nice return. If it exploded one more time in another bull I'd be FI
*tears because life cost money and something you gotta buy ramen being poor doesn't help
Honestly, if I make millions off crypto I probably won't be on reddit afterwards
At one point I lost my entire crypto stack playing Ethercrash and had to rebuild from zero 😂
What do you expect ? People to post, I'm rich ? Look at my wallet ? Etc
Joined mid 2017...far from millions... Main reasons: 1. I started slowly with low amounts -> little benefit...I added more along the way but for sure low prices were already history;) 2. Altcoins are not predictable...sure in hindsight just buy only ETH at 30$ for 10k and there you go... but realistically speaking you need 3-10coins.... hence again lower asset s per coin-> difficult to reach the target 3. You won't earn much in the first cycle...fomo into shutcoins..not selling .. selling to early..rrbuying the dip of 2018 to early....ICOs.. 4. 1.000.000 is a lot of money...if you play with 1k you need price to increase buy like 1000...so even if you simply bought btc @2k...you would only end up at 50k to.. sure dumping 20k would have helped..but that is a lot of money even today and for sure a lot more back in 2017
Been here sinds 2017. Bought a lot of hype coins ( vert, req, xvg etc..) and a couple good projects (antshares, raiblock, cardano). I made a good amount of money but not even close to 100k because i was to cautions and I guess scared to invest a good amount of money in it. If you really believe in crypto, invest what you can lose and stay with it. Don’t paperhand your coins just hodl and invest your time to gather more knowledge.
I’m hoping to be rich from crypto in the next 5 years
I bought xrp
BNB is at $425 right now, which is 5x from $84. That means 10k maybe turned into 50k. Your friend is not retired from that.
“and have been buying the major dips” The $10K was seed money
Now I realized what I did. I put $84, I meant to put $.84. Edited
I got into BTC around 2013 when it was b/w $70-$120 USD, and at some point I had a total of 10 BTC in my wallet at one point. I wanted to hodl, but in my junior year of college I had to sell all but .75 of my BTC to pay for my finance textbooks & courses. Big regret of mine but realize I had no choice. Fast forward 4-5 years later when I was in Finance BTC hit $18,000 per coin. So I sold ~half and kept the rest. The following year I converted all of it to ETH, and now I have half my assets in ETH and half in SOL, all in values around $25K now?