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Genesis
- Thread starter elizabethjennings
- Start date
Wasn't really easy buying in 2010.
To give an example (mine)
1) Transfer funds from Bank to Paypal (2-3 working days)
2) use Paypal to credit Virwox (Hungary Exchange) 2 working days
3) use Virwox credit balance to buy Linden Dollars (Linden Bucks) 30 ish mins
4) use Linden Dollars (non blockchain but basically a stablecoin) to swap for BTC
5) withdraw BTC
Then when you wanted to sell, you had to hope there was demand, and you usually ended up with tonnes of wallet with btc that wasn't worth much and lost/forgot about.
Also it wasn't a investment back then it was a means of exchange (in my case exploit test kits for servicing clients security in the early Web 2.0 era).
To give an example (mine)
1) Transfer funds from Bank to Paypal (2-3 working days)
2) use Paypal to credit Virwox (Hungary Exchange) 2 working days
3) use Virwox credit balance to buy Linden Dollars (Linden Bucks) 30 ish mins
4) use Linden Dollars (non blockchain but basically a stablecoin) to swap for BTC
5) withdraw BTC
Then when you wanted to sell, you had to hope there was demand, and you usually ended up with tonnes of wallet with btc that wasn't worth much and lost/forgot about.
Also it wasn't a investment back then it was a means of exchange (in my case exploit test kits for servicing clients security in the early Web 2.0 era).
Then to buy 1000 usd worth of bitcoin via paypal on new liberty standard exchange would have been foolish then?
Yes, because you would not have held your 20,000 btc all the way to $100,000, which would hurt.
Well 1000 usd worth of bitcoin would be like 300k bitcoins or so... what are you talking about?
I remember when it was $0.2-0.5
The famous pizzas valued it at $0.0025
So yes you could even have bought 300k btc with $1k USD. It doesn’t make any difference.
But how if many people were complaining about buying bitcoin via paypal and not only that but many other problems such as this, https://postimg.cc/QVn17s7Q ??
I remember when I first heard about Bitcoin around 2009 or so. I thought about mining some coins as an experiment and then, being in my Milton Friedman and Ayn Rand phase at the time, thought “Cool philosophical idea, too bad it will never amount to anything” and never set it up on my laptop.
That was actually the best possible outcome for me. Now I tell the story about how my stupidity and shortsightedness caused me to miss out on tens of billions of dollars, but it’s no more than a life lesson like any other missed opportunity.
You see, I’m several laptops beyond the laptop I had in 2009. If I had actually had tens of billions of dollars in my hands and lost it because I disposed of an old hard drive, I’d be in a padded room gibbering and painting the walls with my own feces.
Instead, I clawed my way up the hard way over many years and learned some lessons along the way.
That was actually the best possible outcome for me. Now I tell the story about how my stupidity and shortsightedness caused me to miss out on tens of billions of dollars, but it’s no more than a life lesson like any other missed opportunity.
You see, I’m several laptops beyond the laptop I had in 2009. If I had actually had tens of billions of dollars in my hands and lost it because I disposed of an old hard drive, I’d be in a padded room gibbering and painting the walls with my own feces.
Instead, I clawed my way up the hard way over many years and learned some lessons along the way.
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