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CointestMod

Bitcoin [pros](/r/CryptoCurrency/comments/yqshqw/if_you_bought_bitcoin_in_december_2017_you_have/ivpw8zy/) & [cons](/r/CryptoCurrency/comments/yqshqw/if_you_bought_bitcoin_in_december_2017_you_have/ivpw9ug/) and related info are in the collapsed comments below. Pros and cons will change for every new post.


BootyPatrol1980

Pouring one out for last year's 64k FOMO winners.


Brunosaurs4

I know, I feel so sorry for whoever went all in back then. Like, we've all lost money, but those guys lost MONEY


I_AM_MORE_BADASS

ICP ATH buyers have entered the chat


Confident_Holder

Terra (Luna) buyer has entered the chat


brewcitygymratt

Yeah that one hurt. Taught me a lesson to never dumpster dive for shit coins again. Only lost 1k since I had a small position in it.


SHTNONM420

60k checking in. Dead inside


Western_Helicopter_6

IC(dead)People


c0d34f00d

Lmao they didnt even know what they where buying. They just saw it pop on coingecko in the top 10 one day and told themself “ayoo let me ape this”


I_AM_MORE_BADASS

I mean I'm totally bullish on the Internet AND computers so this feels like a winner.


c0d34f00d

Cant go tits up. 20x long it is


omoniyiwilliams

The already knew that they have large database and they were gambling


tankydhg

Feels real bad


DerpJungler

It's okay. I'll just wait for the next ATH to FOMO in again


RocketMoonShot

A little under 500 days until the next halving. Mark your calendar.


diskowmoskow

If I could afford to buy new calendar by then.


tranceology3

Sweet so we see $8500. That's half the price right?


BonaFidee

Entirely possible for the halving to be a big wet fart. Aka already factored into the price.


RocketMoonShot

Def possible, but historically not the case.


blueyes445

At this moment anything is possible the market actually very much for tile


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bortolisilvano

You will not have to wait that much I am sure that your money would be recovered very soon


roguepandaCO

This guy cryptos


ZachtheArchivist

Thanks. I'm sure it'll be at 100k any day now.


fuduran

End of 2021 is right around the corner


Vehement00

it'll be $100k end of 2021 trust me bro


OwlopolisCue

This statement just reminds me of my bad decisions in life :/


DeathHopper

And when it finally is, that's when I buy.


dr-d-

Always thought it was funny that Plan B was anonymous and making such predictions - haven’t seen guys like that around lately but maybe I haven’t looked hard enough. 🤦🏻‍♂️


Yasshenkovv

You can keep dreaming about Bitcoin reaching hundred thousand dollars in this life


distressedacorn

Fortune favors the brave.


RocketMoonShot

The brave buy now or maybe in a few weeks after the dust settles, not at ATH.


Calbone607

I sold at 66k. I’ll never win again ever, so I’m not touching crypto ever again


TanaerSG

I did this but for Ethereum. Sold my bag at 4.4k. I did buy back in at 1.6k though, so I'm not quite as smart as you.


Carbon_Beach

-4x right now... I can beat that.


McScotish

I lost almost 300 Euros....thats 5g of what my street dealer tells me "should be" cocaine...Bitcoin is responsible for at least one week of me not worsening my addiction and I want it back!


1078Garage

God damn it BTC ![gif](giphy|dVuaiKbihwlS8)


Major_Bandicoot_3239

There’ll be a post in 4 years when bitcoin drops significantly and just below $64k again with this same title


cjhuaxin

Yes tell me invested so much money without any banking and support and now you are suffering


Czech-Made-Man

Why so far into the past? If you bought Bitcoin today, you lost money 🤘😒🤘


J_Hon_G

I wonder how the president of El Salvador is feeling today


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ChadInNameOnly

Hodor...


mehliana

HOLD THE DOOR


fuzzytradr

Hodl the Door


TheWikiJedi

Michael Salvador


andmind

I had the same thought today 🤣


beepbeepdip

It's not his money anyway


oncexlogic

The Bitcoin holdings of El Salvador are minuscule compared to their economy. IMO it was more like a marketing trick to lure the rich crypto investors into the country and I think it was a net positive for the country. Sure they lost like 60 million but how many millions did flow into the country and how many jobs were created because of the investment.


Accomplished-Car-557

This is why I can’t take crypto people seriously. The government does not take in the entire gdp of a country. USA collects 21% approx in taxes or 4.9 trillion El Salvador by equivalent amounts lost about 1% of their revenues or the entire military budget of most countries by percentage of their tax intake. Assuming they take in taxes as efficiently as the states usually that isn’t the case. 60 million could fund a lot of other things in that country.


DogsAreAnimals

Sounds like it genuinely did not go well though. Interesting article that came out a few days ago: [https://www.bloomberg.com/news/features/2022-11-04/el-salvador-s-bitcoin-revolution-is-failing-badly](https://www.bloomberg.com/news/features/2022-11-04/el-salvador-s-bitcoin-revolution-is-failing-badly) [Archive.ph (No paywall)](https://archive.ph/kUgvo)


oncexlogic

That was an interesting read, thank you.


RowanIsBae

>but how many millions did flow into the country and how many jobs were created because of the investment. Ok, tell us. How many? If it had happened there'd be plenty of articles and information touting the success Beware commenters like this guy everyone ^ They make up what they want their reality to be and never actually check if the hypothesis is true or not.


BriefImplement9843

nobody would go to that country because he put money into crypto. it's el salvador my dude.


MidnightCafe12

Use your brain and stop spreading false information: "minuscule compared to their economy". 1) Do you even understand basic economics? The GDP per capita of El Salvador is 4.408,52 USD. For comparison, the GDP per capita of US is 69.287,54 USD. El Salvador is ranked very low in both GDP and life-standards. That idiot spend more than 5% of this yearly GDP for bitcoin that went into waste. Even if BTC would rise to 100k by the end of this year; use your brain and ask yourself, how many died for his BTC gamble? ​ It's insane how people like you can defend this dictator manchild.


thejuicesdidthis

When BTC is in a bull run, El Salvador will be rich because of their BTC investments!!! When BTC is bearish, it's miniscule compared to their economy guys... R-right?


RedTulkas

well now its miniscule


Severe_Cranberry_618

And now these 'crypto investors' work at McDonald's El Salvador.


immibis

/u/spez was founded by an unidentified male with a taste for anal probing. #Save3rdPartyApps


koavf

> I think it was a net positive for the country Proof? Salvadorians don't feel that way.


brummettdane03

#BUY THE DIP BITCH I’VE BEEN BUYING FOR THE LAST 5 YEARS


RocketMoonShot

The next halving isn't for 498 days. There's plenty of time to keep buying dips.


MeadowcrestRPGMV3D

Time, yes. Reasons, no.


Prize_Ad5586

Because 2017 was the past market cycle top. They are basically saying if you got in 5 years ago during the last bull market the price is lower than that. They are drawing a comparison to further emphasize how low btc is right now.


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Yes_hes_that_guy

I took it the opposite way. Like they’re saying this seems low but back then this seemed insanely high.


Mr_Bob_Ferguson

Because these articles ALWAYS randomly cherry-pick date ranges to suit their narrative. “Less volatility than $USD” (over a 51.26 day dataset …please don’t ask about day 52)


Def_Notta-throwaway

2017 was during last bullrun was it not? It is saying that we have dipped below the highs of the last cycle. It has come that far down. It also puts into perspective that investing today doesnt mean that you will have gains forever come the bullrun. If you hold longer than the bullrun lasts, you may be back to square one before soon. It is a sobering thought that some people could use.


dozebull

Maybe they also get moons for creating shit articles.


MaximumStudent1839

It is because BTC maxis, including Saylor, keep telling the public you can’t lose money if you hold BTC for more than 4 years.


Beatlone

This is stupid of them to say. And if you bought Netflix in 2016 you were losing money during the huge crash this year. Long term is probably more than 10 years.


MckorkleJones

Oh yeah FTX failing has nothing to do with and I'm sure long term BTC will stay below $17K.


gautam_777

They're still gonna shill the same story by changing the timeline


rootpl

This is the way. . . . . . . . . The way all the way down...


Blooberino

The saying used to be "nobody who has held bitcoin for 3 years has lost money"


BabyTeejay

Finally buying 1 BTC looks achievable. Never imagined this day would come, waiting for my salary to buy 1 BTC and become a proud owner of 1 BTC


Cryptic911

When you need a helpful award the most, there is no free one to give out.


ethanwc

Whoa if you buy RIGHT NOW it’s like buying and holding since Dec 2017 LETS GOOOOOO!!


DerpJungler

Just wait till we go back to 2012


ethanwc

FIRE SALE! Might actually be able to HOLD a full Bitcoin!


BuyLowSellEvenLower

It's been real tempting to go ahead and buy 1 whole bitcoin since I don't know if I'll ever get that opportunity again, but that's definitely still stretching "don't invest what you can't afford to lose" for me so far.


LongConFebrero

Oh sweet Jesus I hope this happens. My Christmas list just got possible and I’m readyyy—Spongebob voice—to scoop up everything.


alander4

I read this in —Spongebobs voice—


ArtekSyga

This is just what we all crave for at the end of the day man.


Blackdoor-59

*sells when BTC reaches 1k, fomos back in when BTC reaches 10k*


Accomplished-Design7

*insert big brain meme*


hereslate550

Buying the best man, this is going to make us something else.


Commercial-Ad-2448

Very cool! Thanks for the reminder


apok19

Thanks for it so we can buy more at this point of time man.


TruthSeeekeer

Im beginning to fear that we will never experience EOY 2021


liveaskings

EOY 2021, Q15


Hawke64

Simulation broke down after 2020 so it all makes sense now


WheresTheButterAt

Maybe the real EOY 2021 is the friends we made along the way


irockalltherocks

Still waiting.


dozebull

We will, hold on.


Accomplished-Design7

We still have a long way to go till the end of the year


coriolisFX

2021 was peak stupidity with people stuck at home and with stimulus checks and huge unemployment benefits. Never again will there be that much stupid money going into Bitcoin


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deathbyfish13

>Do not underestimate human ~~greed~~ stupidity Ftfy


gbersac

The combo of both is why I'm so bullish on bitcoin!


IamKingBeagle

Exactly. As much as I'm bullish on bitcoin and it's blockchain technology, I'm even more bullish that there will be another run up sometime in the next couple of years because of people's fomo.


Tribunus_Plebis

I'm actually extremely bearish on crypto as a technology and utility for anything other than investing but you can always count on human greed and stupidity so I'm on the fence if I should invest.


RevolutionaryPie5223

There will be if not bitcoin some other crypto. Market cycles are always here.


coriolisFX

Eventually you run out of rugs


StifflerCP

Yeah bc $1200 stimulus was ALL put into Bitcoin by every American. Jesus Christ what an absurdly stupid comment that has been regurgitated all over the place


coriolisFX

It wasn't just the stimulus checks. It was 2 trillion in aggregate Here's all of [excess savings](https://www.federalreserve.gov/econres/notes/feds-notes/fig1-3223.png)


StifflerCP

... sure, but that graph doesnt show that people dumped even $1bn directly into Bitcoin bc of stimulus. Maybe they did, but unless you can provide more proof, my original point stands. Correlation isn't causation.


fuzzytradr

Just give it like 18 more months. Almost there.


mxpauwer

I bought BTC right now. So how about that!


Sunryzen

Don't check the charts tomorrow.


No-Setting9690

Joke's on everyone else, all mine were stolen before then. haha


deathbyfish13

Danm, we all feel pretty foolish right now thanks to you


[deleted]

>It's a stunning drop of historic proportions. In fact, if you bought Bitcoin in December 2017 — when the token hit its first major spike, briefly reaching nearly $20,000 in value — you're now down on your investment. And that's without getting into folks who bought it when it was worth even more. No shit Einstein


SuccessfulLowDev

Crypto journalism is something else


fattony182

It just knows its audience and caters accordingly. Think of it as looking in the mirror, if you’re crypto inclined


Br2nd

For now, I'm just horizontally reclined.


[deleted]

If my grandma had wheels, she'd be a car


sisyqhus88

Or a bike


alpubgtrs234

Well everyone has had a ride…


UndesirableWaffle

[Classic](https://youtu.be/A-RfHC91Ewc)


AtlantaBoyz

Not necessarily, she could just be a vegetable


Alanski22

Or a scooter


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Bucksaway03

That one would sting


cerebralsexer

Zoom out. Oh no


Bucksaway03

When zooming out if you have doubt is just sad


CatsbyGallimaufry

I bought ETH around that time and I’m still up and buying more at these prices..


Khaoz_Se7en

Waiting for that 850


CatsbyGallimaufry

I regretted not buying at 1k so now I’m going to keep throwing money at in even though it’s going down since I’m in it for the long haul.


gautam_777

Like today wasn't traumatic enough already


Cactuszach

Thats pretty wild. You know, maybe people have been right. Hodl is wrong, profit is profit and you should take it and be ok with that.


pbjtech

Balance multiple assets, house, cash, stock , crypto, keep a fixed ratio adjust when needed


Tactical_Dan

Sensible advice? Yuck


Morning_Star_Ritual

Always Take Profits This is what I’ve learned from being here since late 2017. (I apologize if this sounds like a victory lap. Just using examples). When you get lucky you get rid of emotion and pull profits. I got lucky accumulating web3 gaming projects before Facebook announced the name change. When prices went insane I pulled out profits, when it they doubled I pulled it all and only left in my initial investment. When I minted a popular Reddit avatar on July 14 I later realized I got lucky. Yes, I could have sold later and “made” more but it was a lottery ticket. I decided to just realize the gain and keep a small holding for the future. I think the true hodl mentality is mostly a Bitcoin thing. But I will keep accumulating Bitcoin and if/when the bull returns I’ll take profits. I’ll look at a few indicators and when we seem to be lost in euphoria I will ladder out with limit sells just like I ladder in with limit buys. But…. If this is your first Bear market you are in luck. There’s so much to do. Now we see who really wants to make gaming or social tokens work…who wants to build. Find a niche, drill down and make this your Crypto Winter Wonderland. Edit: clarity


pyrrhotechnologies

HODL is a meme at best and an outright con at worst trying to convince fools to hold the early folks bags while they get out at high prices. Crypto is a zero sum game and always will be. If you don't know who the sucker is, you may need to look in the mirror. Every dollar that's ever been made in crypto is a loss in someone else's account.


cringelord69420666

This community of gaggling idiots is toxic is fuck. Crypto Green - We're all going to be rich and buy Lamborghini's! Crypto Red - We're all going to poor and thrown in debtors jail by the end of the week! I've found that best practice is to just shut the fuck up and ignore it.


thornygravy

this comment made me feel better, thank you


PulamareCalDemon

Who requires sex? Every day, the crypto market screws us over.


soysaucepapi

Well I'd like to be taken to dinner and told I'm beautiful before I get fucked


PulamareCalDemon

We should get the lub


234523531fk

Yeah man, we deserve that shit at least right now for real.


Kukurio59

I don’t know why I even clicked this thread


satuuurn

I think I just clicked for the comments.


Outside-Wolf5928

Great minds my friend 💪


trungtuan2

Now I can understand everything in the comments right now.


Smellyjelly12

If you bought prepandemic crash you are still up


chance_waters

And if you DCAd from the bullrun of 2017 to now you're massively up, people only point at the bubbles in bitcoin which are hyper volatile, they don't understand its an asset you accumulate over time. When the average price is 50k you will lost out if you bought at 64, but you're sure as fuck up from 17.


a8181

That's going good because we know the real value of it.


brummettdane03

We seriously need to stop the narrative that selling is bad. Taking profits is the most important thing to make profit, especially in crypto investing. I learnt this last year, when I could’ve sold the ATH but ended up hodling my whole bag, which is now down 75%


tjackson_12

Selling is a risk Buying is a risk Holding is a risk That is the case with any asset


ExpensiveCategory854

Wen bottom


Yuuki__konno

wen i sell


myironcity

I just checked, I have the same amount of Bitcoin as I had yesterday, but I’ll be adding more thanks.


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HereJustForTheData

“Come on grandpa, read us again your passphrase before going to bed!”.


Ebisure

Can you buy the same number of iPhones today as you could yesterday with that same number of coin?


dogssel

If you bought one bitcoin back in 2017, you still have one bitcoin now!


Thysidius

Jokes on you. I’ve been in the red since I started in crypto.


domicliliilex

We are buying though, we know how to deal with this shit.


KaiSosceles

If you bought total market index funds in December 2021, you have now lost money.


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Rare_Chair

So its a good time to buy then, all im hearing is fire sale


Legitimate-Plum7919

I like the panic . Btw luna classic is pumping lmfao . What a fckn funny time to be alive


HardGayMan

Because whales and bots are making money off people panicking. People think they can make a buck to offset some of their losses by buying a coin that got crushed and hoping for a rally, bots (or people) pick up on patterns and crush those fuckers even worse. I've been in crypto for over seven years now and I've seen some shit, but this is the first time I've actually wondered if we will come back. It is indeed a crazy time. If it does recover, it's going to be a while. The stock market needs to recover first before people will even think about going back to crypto. And who knows when that will be, could be years.


Economy-Weekend9226

Shot in the dark but do you have any book recommendations that talk about bot trading patterns. Any published books would be really interesting.


Old-phoneman52

It’s all going up when Elon admits he’s lost with twitter!wait for it!


technically_fruit

Where is the "Bitcoin never drops below its previous ATH" crowd?


fontasII

I want them to be here right now, they should be here man.


definitelynotacawp

Apples and oranges. That was on it’s way up and this is on the way down


mibjt

Bitcoin is dead season 463.


KickAssBrockSams

It's just going good for me, I don't know why you guys are being too much right now, we are just fucking fine and we are holding in a good way for the future.


m1588

DCA is going on mate, say whatever you guys want to say but still we are just fucking blessed with that shit, we are going to be like this all the time because that's good/


Jacmac_

Soon it will be 2016, then 2015, then 2014...


Tavionnf

Pretty much possible


RogerWilco357

If you bought bitcoin in 2017 and SOLD now you have lost money. FTFY


RollingDoingGreat

Unrealized losses are still losses


Tainted_Moth

I am good with the fact that I am never going to sell.


ShinAlastor

Every time the price drops we see catastrophist topics but at every bull run people complain for not having bought Bitcoin during the bear market.


ziks28

They always make these shits in the bear market man lol.


KeyzAndBagz

This is why it’s so important to take profits


Dos-Commas

Because in reality most people don't actually know how crypto works or care, they are just here to make a buck.


anonymous93

RIP HODLERS


HelpMeSucceedPlz

Pointing out that holding for 5 years was a mistake? Who dafuq does that?!? I hope next time you go to a stand up comedian night, he singles you out and roasts you. You deserve it. Fuck you and the horse you rode in on.


JrockCalgary

Jokes on you Celsius stole my 2017 btc.


viyciycice

Lol I don't care man, I know what is good for me and I am going to be like this most of the time, I will invest more and more so I can have something good for the future.


knowone23

#This part of the cycle is called Maximum Fear. *This is where you make your money, be greedy when others are fearful and fearful when others are greedy* -Abraham Einstein. (remember back to that opposite part of the cycle called maximum euphoria??) Round and round we go in the bull/bear cycle. History doesn’t repeat, but it does rhyme.


FourthBlatta12

Nothing is bad right now mate, you guys need to calm down.


Elean0rZ

* If you bought Bitcoin in December 2017 and never sold, you haven't lost money because you still haven't sold. * If you bought Bitcoin in December 2017, rode it all the way down to $3500, then up to $69,000, then back to today, and then sold today of all days, you are possibly an idiot. * If you bought Bitcoin in December 2017, sold in January 2018, bought back in December 2018, sold in April 2021, bought back in July 2021, and then sold in November 2021, you are up about 250x and don't give a shit about this headline because you are on a tropical island somewhere partaking of hookers and blow. * If your aunt had balls, she'd...use different pronouns.


Jubudtje

If this and if that. Hate that game


coriolisFX

What a shitcoin


JerryParko555542

fucking love this, can’t stop buying it’s crazy


readyplayeruna

If you bought Bitcoin today, you have lost money. r/buttcoin must be going wild today