How Much $100 Invested in Bitcoin 10 Years Ago Be Worth Today?
I just wrote a comment in Site Comment on a beginners primer to Bitcoin by Tony Hamilton. He did a great job in educating newbies how Bitcoin and Cryptos work in general.
Cryptocurrencies are a difficult subject to fully understand. The general concepts are easy to grasp But the details on how to purchase, store, use it to pay for stuff and withdraw the funds are not straightforward at least for me.
You may be wondering what Cryptocurrencies have got to do with Affiliate Marketing. Go to the Affiliate Program tab and enter the term. Just see what you will find. No kidding!
My Bitcoin Experience
In 2017, I invested in Bitcoin when it was around $16K. No I didn't buy complete Bitcoins. Just a fraction, About $1000 worth. It rose to almost $20K later that year and I was happy. I didn't sell.
When I saw the crypto tank shortly after, I just left it alone hoping it would rise later. It kept falling till it dropped to around $3000.
All these years later It is now back to $10,000, still far short of what I paid. Even if it doubles or quadruples, it is not going to make me rich.
I was very much aware of Bitcoins back in 2010. It must have been a joke thought I. Where are the physical coins? They looked pretty in the pictures. But they were worth like pennies. Who would want to waste their time with play money I thought.
The Mind Boggles!
What if's. What if I decided to roll the dice back then?
Yes, what if I had spent just $100 in Bitcoin ten years ago. What do you think that would be worth today in US Dollars?
How about TWENTY MILLION DOLLARS!
Let that sink in. If you don't believe me here is a Bitcoin Calculator where you can enter an amount in US$ and it will tell you what that would be worth today.
What if I had invested $100 back in 2010. I firmly believe that I would have sold out when my investment increased in value to say $100,000. Maybe even less.
Hence, this is all speculation. The moral with investing is to stay in for the long haul. And cash out only a portion to make your life better. But leave the rest in the kitty where in essence you will be playing with and risking house money.
The Future Of Cryptos
You may be wondering if there is going to be another Cryptocurrency available today in pennies that will have even a fraction of the rise in value of Bitcoin. I feel there is.
The problem is how do you choose out of the myriads of cryptos floating around? I am doing now what I should have done then. By talking to the experts, I have found a few that are in the pennies that have good long term prospects. I know there are no guarantees and I am treating this like a lottery. If I loose it all, no big deal.
My mentor and teacher in my Forex trading class is accumulating two penny Cryptos every month using dollar averaging.
Since he uses a fixed dollar amount to invest each month, when the prices drop, he gets more. When it rises he gets less. In the long run that level of discipline will win out.
And he is in it for the long haul and has no intention of selling.
I had heard about these cryptos from other Crypto Gurus so I will be following in his footsteps.
Are You Going To Invest In Cryptos?
If you decided to invest in cryptos, do it this way. By using money you can afford to loose. And use the Dollar Averaging purchasing method.
I am sure there are training products that can be purchased and sold using Affiliate Marketing.
Who knows, you may become the next crypto millionaire 10 years from now!
All the best to you.
Edwin
P.S. After I had received about 11 comments I decided to check my crypto account. What I found is worth mentiohing. About two yearsn ago a trading guru who I follow recommended a new crypto called LEND. It was trading at $0.11 at the time when I bought in. Sadly it seemed to go nowhere and dropped as low as $0.003. Yikes! I stayed in. Today it is valued at $0.69. Hence I made a gain of over 500% since I got in. This is for the long haul and I may be adding more on the dips. Note that I am NOT giving advice. This is just an accoint of my personal experience.
Recent Comments
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Good post, Edwin, I believe there is huge potential in cryptos. I got to BTC through some other investment in 2016 but didn't know anything about it. Then I started to find out information and read a great book about the history of bitcoin that was an eye-opener for me. Since 2017 I managed to accumulate some fractions of BTC step by step (and a little bit of altcoins but there you never know which ones will be successful). I'm a hodler, until it makes me a multi millionaire, I'm not selling! :)
Good for you Lenke. I hope you do indeed become a millionaire with Cryptos.
Thanks for commenting.
Cheers.
Edwin
I think that is the first explaination I have ever understood.
I have to say some times the people selling it don't do themselves any favours. I used to play a word game world wide and I had just played a great word and the guy started selling it to me. Wrong platform wrong place was my feedback. We ended the game.
I think trust is a major barrier to entry. An interesting share. Thanks Phil
2015-2016 was a good year for me.
I learned a lot about Bitcoin.
It was through a peer-peer program recruitment program.
Many learned lots during this time.
I ended up with 3.2 btc.earned.
The recruitment program still actually exists but most have left including myself.
Remember each btc can be divided up into 100M Satoshis only.
Only a limited amount can be in circulation 21M.
Good post.
Thank you for sharing.
Paul.
Hello Paul,
Glad to hear you had some success with BTC. The closer the amount in circulation gets to 21M the higher its value in $ will rise. 1BTC = $100,000 is not out of the question in 5 to 10 years from now.
I'm focusing on other alt coins. I invested in LEND two years ago on the advice of a trading expert when I bought for $0.11. It is now valued at $0 .69. But for over a year it went down to about where I bought it. Ranging from $0.003 to .$0.13. Then it shot up in June this year to $0.89. I'm just gong to hold on to it for the long term.
Thanks for your comments.
Edwin
Oh how lucky you are having 3.2 bitcoins, Paul. I understood the full potential first after the bull run in 2017 so I couldn't accumulate that much but I still consider myself lucky to find out early enough. The potential is huge. I'm a hodler.
Acually that is what I HODL.
I turned 7 into cash back when it went to $@%K CAD.
Kindest regards.
Paul.
I have never heard of Cryptos and so on. It looks like stock market or Forex. Up and down at all the time. Investing a little money in Cryptos sounds a good idea to me. WA is also an investment like stocks and so on. We got to put our eggs in various basket. Thank you for sharing valuable information. By the way, are you still playing with Forex? I don't do it anymore because Todd Frank Act in USA.
Hi Tomoko,
I am still in learning mode. Hence I am demo trading with a $10,000 demo account. In the past two months I gained over $500. I went from $10,000 to $9,236,00 and was able to get that back up to $10516.00.
Losses are inevitable. The objective is on average to win more than you loose. And to keep that trend moving upwards.
When I start with real money it will only be $1000 to begin with.
It is not a get rich scheme.
I hope this helps.
Edwin
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Edwin, so how are your crypto investments going today since the industry is just full of scams?
I remember in 2010 I did consider spending £200 which would have been worth around £160 million but you know what they say, if it sounds too good to be true.
Did you ever wonder who was responsible for this and why there was so much secrecy?
I did some research and whilst I couldn't prove it, I believe this could only have been created by the FED.
So here we are getting screwed by the banks yet again and the only ones who are benefitting are the super-rich since they control how and when to drive the currencies up and down.
I mean there are somewhere in the region of 9,000 currencies today and why is that?
Mick