Back in 2013, a single subway sandwich shop accepting Bitcoin got airtime on CNBC, and we were all jumping for joy. Nowadays we get full TV features about Bitcoin and people are like ” yawn, could be better”.

Back in 2013, a single subway sandwich shop accepting Bitcoin got airtime on CNBC, and we were all jumping for joy. Nowadays we get full TV features about Bitcoin and people are like " yawn, could be better". submitted by /u/Godfreee
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Bitcoin – The Currency of the Internet

TIL that the FBI seized 144,000 bitcoins from Ross Ulbricht (silk road guy) in 2013 following his arrest and conviction. They were valued at close to $28.5million at the time of seizure. They’re now worth $1.9billion.

submitted by /u/HumbleHumanz
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Bitcoin – The Currency of the Internet

HODLing since 2013. Sold 1/3rd of BTC today at $19.5k. Don’t be afraid to take gains. Thoughts and ramblings inside.

Throwaway account for obvious reasons. I am posting this for others who may be debating about what to do with their BTC gains.

First heard about Bitcoin in 2013. Ordered $ 8k worth of computer parts and took over the extra power in my house and built milk crate mining rigs. Kept them running, even as the price fell… As cards failed I didn't replace them. Long story short, I end up with ~80 BTC.

During the "down years" before things really picked up steam I played around mining some other things, so I have around 65 Litecoin and 70 Ethereum. I messed around and spent some BTC just because I could, a couple BTC on online poker/casino sites to see how it worked… And that ill fated 1 BTC porn video from a Redditor who is probably laughing her way to retirement by now…. 😉

Earlier this month I became a cryptomillionaire on December 10th. That was an awesome achievement. Luckily for me I've been involved in technology so I was already a millionaire in the traditional sense. Not anything too crazy… 4M net worth or so, but used to dealing with money and investments. My advice to others is based on 30 years in technology and being a high net worth individual since the early 2000's.

Today I passed 1.5M in crypto wealth and I cashed out a third of my holdings to pay off my mortgage. I did this for multiple reasons:

  1. I think we are in a speculative bubble. I believe in crypto and blockchain technology. It is going to change the world. But the utility is not fully there yet. The current price, in my opinion, is overinflated relative to what these things are really doing in the world. I think there will be a correction but eventually things will really take off, similar to the dot com bubble. Having worked in technology since 1997 this is just my opinion based on my gut reaction to everything going on.

  2. Traditional banking needs reformed/to die. Why should a big bank get to collect thousands in interest from me every year? I view selling some of my crypto and clearing a major debt as not only a personal gain but a vote against the system. I would encourage anyone who can clear debt against existing fiat to do so. I would rather put $ 1k back into crypto a month than be giving $ 1k in interest back to the banks.

  3. You are not investing if you are not ever willing to take gains, you are just gambling. I don't think anyone should ever sell 100% of their crypto, but you need to be able to part with some of your BTC at the time and choosing that makes the most sense for you and your goals.

As part of adjusting my crypto portfolio for the future today, I also converted all my Bitcoin Cash to BTC. I very much do not like what is coming out of the mouths of that group, and I believe there should only be one "Bitcoin." I am appreciative of the free money that landed in my lap from that fork, but too many options is going to confuse the general public. I encourage everyone to do the same.

As I write this, I am still a cryptomillionaire and am looking forward to the future. But I have future goals in mind where I may clear other debts or continue to diversify. Unless you have no debts at all and no plans in your life I think HODLing until death is a pretty silly idea. Everyone should have some goals in mind with any financial venture. Just make sure they are big enough checkboxes that you won't keep looking back.

submitted by /u/throwbtcnw
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Bitcoin – The Currency of the Internet

I started a small business using a fraction of a bitcoin given to me on this sub in 2013. Just wanted to say thanks to everyone

I was originally disappointed with some poor experiences using Coinbase and mentioning my issues on this sub. I never asked for anything, simply was whining about problems I had with Coinbase at the time when they were being flooded with new accounts and support requests.

Everyone was great about helping me out and pointing me in the right direction to have things set up properly. Unexpectedly, someone sent me about a quarter of a bitcoin to repair my feelsies, which was quite a lot of currency to send over the internet to a stranger, especially on an alt account that had been fairly recently created.

I ended up using it to cover the costs of starting a little business. I now manufacture stenography keyboards that are compatible with Plover for stuff like live transcription (or just fast typing in general). Now that the design all done, I'll soon be uploading the PCB files and case design online to be freely used for anyone to make or modify, even for commercial purposes, under the TAPR Open Hardware License.

I know I might be better off hodling, but I like the idea of actively using bitcoin more than storing it away.

Thanks, /r/Bitcoin, for helping me get to this point. Even when I didn't deserve it.

submitted by /u/EcahUruecah
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Bitcoin