Back in 2010 my business partner at the time told me about Bitcoin. I heard of it back in 2009 but didn’t pay much attention to it. My business partner bugged me and bugged me to put up a website page of some Bitcoin Trading Strategy. I kept saying no! Because I kept telling him that the government is never going to let some digital currency take over the United States Dollar.
I said over and over that anybody involved with this Cyber space currency will probably get into deep trouble with Uncle Sam. I am not the type of person to get involved in anything illegal. So I kept saying No! No! No!
After a couple of months he said, okay… how about we buy some Bitcoin and see if it goes up? I said no I don’t want anything to do with this scam! Can you guess what the price of BTC was back in October of 2010?
Bitcoin was mined with a normal computer back in 2010!
$0.125 cents (twelve and a half cents) ladies and gentlemen! Even though it was extremely difficult to buy these Bitcoins back then because you had to mine them from your computer. Or, you basically needed to know somebody who had mined them and wanted to sell them to you.
Then to store them on your computer back then was also a pain in the ass to setup. But my business partner said I can find somebody to buy them from and stubborn stupid me still rejected the thought of buying these useless digital coins that you could not even spend them anywhere… was yet another reason why I said no way pal!
Bitcoin Hit An All Time High Of $20,000!
So, back in early 2018 when Bitcoin was coming down off the $20,000 high and it was trading around $17,000 per coin I PAINFULLY did the math. Yes you read it right I added up how much money we “would have made” if we would have bought just 2,500 Bitcoins each at around $0.12 cents each.
Oh man it makes me cry every time I say this number… $85,000,000 + we could have made if we would have bought just 2,500 Bitcoins each. That’s a small investment of only $600 +!!! My old business partner still gets so upset about it til this day because not only did he decide to listen to me and not buy any digital currency.
Electricity Is Too High Today To Mine Bitcoin!
But he also regrets the fact that his friend helped him setup a Bitcoin miner on his personal computer and after a week they did an update and he needed to reset it to keep mining and he never did the update… He gave up mining after such a short try… YES indeed back then all you needed was a regular computer with a decent gaming card. Not like today you need to spend thousands of dollars on these miners that are not even profitable because the cost of electricity is too high.
So even if he mined just 100 coins he could have cashed out big when it hit $20,000 Those 100 Bitcoins alone would have made him 2 million dollars richer. Are we invested in Bitcoin today? You bet we both are! And not just Bitcoin. We are in a few other digital coins as well like XRP also known as Ripple.
HODL Until The Value Of Bitcoin Moons!
Here we are about to start 2020 and the “Digital Currency” space is still in a downward market sentiment but we are HODL’ing (holding) onto our coins this time baby as we feel that the near future will make these coins soar to highs people would not even dream the price could go.
$20,000 BTC will be a small price point when we see BTC hit $100,000!!! Some predict it will hit $1,000,000! Time will tell my friends…time will tell… I just want to close here by saying that every word you read here today is 100% true. I am not one to make up bull crap stories just for the hell of it.
So if you have heard of Bitcoin and other digital currencies you can trade them in 2 ways. You can trade them with margin like you do in the Forex Market. Or, you can buy the digital coins and store them on a ledger…
For the record I just want to state that I am NOT a financial adviser. And I am not saying to invest in any currency whether it be Forex or Digital currency. Investing in any market instrument is very risky and you should not risk money you can’t afford to lose.