Spaceman_Spiff
Legendary
*
Offline Offline

Activity: 1638
Merit: 1000


₪``Campaign Manager´´₪


View Profile Personal Message (Offline)

Ignore
May 15, 2017, 06:28:06 PM

Lucky idiot is how I imagine the majority of people who have gotten rich off of Bitcoin. Maybe I'm just jealous, but I think there's a bit of truth to it.

What about the people who carefully researched Bitcoin when it was worth pennies or single or double digits of dollars, who saw its potential as a disruptive technology, invested their hard earned money in mining equipment, mined and bought Bitcoin and then steadfastly held on to their coins?

Do you think they're "lucky idiots"?

I think the lucky ones are those who bought coins because others had already made money on them and then made money despite gambling with them through trading.
I think there is a spectrum between people who thought long and hard about every possible angle of bitcoin and those that were convinced by a catchy phrase.  The latter could just as easily have fallen for a pennystock pump and dump, the former is a sophisticated and perhaps even visionary investor.  I guess most of us are somewhere in between.