Did you buy BTC @ less than $1,000?

if so, would be great to hear your opinions on:

  1. How do you think the bank could work differently for the next couple generations?
  2. Why did you decide to buy or sell bitcoin?
  3. What is the profit margin on luxury cars?
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Sure did.

  1. In the US, I’d like to see a lot more regulation to protect the average person from financial sharks or from bad actors causing systemic risk. I don’t think it’s reasonable to expect Bitcoin to replace the USD. It will never happen. But over time, perhaps governments will stabilize the value of their currency some using Bitcoin as a reserve. And people with the worst of the worst governments can switch to Bitcoin to opt-out. Having that option of a self-sovereign & secure value store, even though most people in most countries don’t need it, is significant. As for the US, payment convenience is an overrated use case for Bitcoin. We already have Apple Pay, credit cards, etc.

  2. I grew up playing poker, so was able to easily recognize an “asymetric risk:reward” opportunity. I was comfortable losing 50-100%, especially at that time in my life, for the prospect of a 100-200x gain. Most people failed to see the potential upside, even if unlikely. Haven’t sold yet, but don’t think I have the fortitude to weather a third bear market… I held through the entirety of the last two, but my equity is large enough that a violent selloff seriously messes with my psychological well-being. I no longer want to be that person who wakes up in a cold sweat at 2AM, rolls over, and checks the Bitcoin ticker on their phone.

  3. Depends on the luxury car company, but Ferrari makes $90k per car and they do so by 1) keeping supply low, and 2) using their brand to build profit centers selling other things like merch or F1 sponsorships. Clearly, limited supply is also a driver of Bitcoin’s price. And a close analogy to Ferrari’s other profit centers, for Bitcoin, would be Layer 2 tech.

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Great answer! Thanks for sharing your experience! Unfortunately, I didn’t buy Bitcoin what it cost less than $1,000, but I try doing my best to improve my skills and knowledge, so your ifo is useful for me.

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I received half a BTC back when it was like 400 for payment for a few articles I wrote for a blogger in England. It was the easiest way to transfer money between us and I was glad to have it. Unfortunately I had to sell it shortly after to pay the electricity bill. (ex wife wasnt working again and we were living check to check.)

That was the most I’ll ever be paid for writing and simultaneously the most expensive electricity bill I ever paid, lol.

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I actually had 3 bitcoins, when they were at about 10-15$ and I just… sold them. The fail of my life(

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Unfortunatelly i sold my bitcoin when it was 900$, i thought that was a great deal.
Anyway i didn’t know what to do with it in Russia

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