RE: Ever wondered why you are not one of those guys who hold thousands of BTC/ETH?
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It's similar to the people who mined Steem but never sold.
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It's similar to the people who mined Steem but never sold.
Is it? Steem came on stage some 7-8 years later...BTC was one of a kind. There was no competition and all the elements were there. Scheduled halving events, limited supply...high risk investment of course but I think it was worth a try.
I am sure that nobody who got involved really early and still holds has regretted it. Can we say the same about those who mined Steem early and never sold?
My point being that people who mined Steem and held it took a big risk, it was a gamble. They could have sold at 7 cents, and been extremely profitable, even 3 cents. It was a very short mining period. No one knew what it would become, if anything at all. In fact, there was a good chance the mining would be unprofitable. Granted it never ended up performing well, but those who mined made millions regardless.
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How many tokens out of the current supply were mined during that short mining period anyways?
I’m not 100% sure. Never did the math. I’m guessing around 150M.
In the early days of BTC, it was a super high risk to invest in BTC and holding it. Sure, some to more did this, but it was even riskier then angel investors usually put their risk money into. Why? Because BTC was not just a new service, it established a totally new market. This market was not proven. Same was for BTC, it was not proven. It could've trended to zero over time.
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What is "super high risk"?
What seems a very super risky for one person, may not look the same for others.
It all depends from you knowledge level, and from the viewing point perspective.
To me the biggest attraction, and biggest "risk remover" factor always was the fact, that BTC removes "the middle man"
That transactions can be trustless.
You can always influence the middle man. Be it individual, a group of individuals, organization, corporation, government. What ever.
Influence things by human week points: greed, love, fairs, selfishness, phobias, addictions, etc etc. The list is endless.
Try to racket, or intimidate, or bribe the algorithm, formula. Mathematics.
:)
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I do understand you r few to wards BTC and how this is much different to what we are accustomed with today, and may not like how its done today. But back in the days, even when BTC mechanism could be categroised as THE future way of handling money, it was still the question, will it be BTC or something else that will be the right technology.