Hey kiddos, this thread is for sharing interesting bitcoin stories, not debating the idea. Start a new thread for that. Here is a news story: The idiot who was running the Silk Road is trying to get his bitcoins back from the government(good luck). Originally he denied that he was the owner of SR, but now he decided that he wants the coins back. Unfortunately you can not ask without acknowledging that yes, you are the boss... I guess the logic behind the request is that he might get a few years, but the coins are still going to be valuable by the time he gets released. My guess is that he will get 10+ years and the coins will stay in custody and the government eventually will put them on the market... ---------------------------------- Oh yeah, the blockchain was started exactly 5 years ago. Happy Birthday!!!! "November 2008 is the release of the white paper. The first block in the block chain was released Jan 3rd 2009."
Wall Street Guy interviewed on Reddit: "[â]bruce_fenton: There has been some high profile examples of Wall Street investors getting in on Bitcoin â â one venture company, Circle Internet Financial, had a high profile Wall Street person join the board, a couple other major Wall Street players like Fortress and Second Market have officially announced entrance into Bitcoin and a couple others such as hedge funds or more quietly becoming involved â â Having said that, no, there is not really significant interest or understanding on Wall Street â â I have talked to many, many Wall Street people even technically advanced venture capitalists and others â â and the understanding level and acceptance level is still extremely low â â many people do not have even the most basic grasp of it and have only read an article or two or talk to people in passing and have massive misconceptions about what Bitcoin is and how it works. To be honest â â talking to my fellow Wall Street professionals about Bitcoin can be a little bit frustrating â â there lack of understanding, in some cases is so great â â some of them think of it as a completely different thing from what it really is" http://www.reddit.com/r/Bitcoin/comments/1u8zco/hi_reddit_20_year_wall_st_geek_and_bitcoin/
As said before: we are still in pre-Internet-time (1992-1995). Be aware that when Wall Street finally grasps it, they will over-hype it to a bubble like 1998-2000.....
At one point the guy had 70K BTCs selling them for 4 cents. He probably committed suicide because he was also buying Steam games for 3 BTCs. ($2700 seems a little bit high for a game) Although he did his best for the bitcoin economy, he should be at least in deep depression... He hasn't posted since 2012....
Good thread. Very interesting reading the stories of guys who were sitting on potentially tens of millions in BTC profits "IF" they had held. These stories remind me of when I get together with my trading buddies and we talk about "IF" we had bought and forgot about some of our positions from early 2009. One of the many that sticks in my craw was a 400,000+ share long of LVS I had within pennies of "the bottom". Sold it for a dime profit. LOL. Who knew? They were teetering on BK for months! Every trader has dozens of those "if only" stories to tell. Hindsight is so much easier.
true, but when you have 70K of something, you could easily keep just 500 (or even 100) just in case....
there's no excuse to not have bought 3000+ or more coins in 2010 like being able to buy google direct from Larry in 1998 except the opportunity was technically open to everyone with a computer and internet excess and a $100 to spare Frequently check technology websites like wired, techcrunch, slashdot to see what is hot and then try to invest early. you got to keep your eyes peeled to these opportunities. they are lurking
Do you keep a few hundred shares or even a few hundred dollars worth of all your profitable trades just in case it's the next AAPL or MSFT? Of course not. Nobody holds for 10,000% moves. In hindsight it sounds good, but it's not realistic.