If You Left $1,000 in your bank account in 2010 it would now be equal about $600 in purchasing power compared to in 2010.
But do you want to know how much you would have if you invested that same $1,000 in Bitcoin in 2010? $2000? $5000? $25,000?
No, Approximately $327,000.
Now, really think about it, Which currency is "Volatile"
I don't know about you, But I choose Bitcoin.
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People are so scared of the volatility of bitcoin because their time preference has been so screwed up by fiat. They can't bear the thought of having their pirchasing power go down sharply for a short period of time because they might want to spend that money anyway a month or so after converting it to bitcoin imo
$1000 worth of Bitcoin purchased in 2010 would be worth far more than $327k today. Bitcoin at the beginning of 2011 was selling for $0.30. You would have been able to purchase 3300 BTC for that $1000. Today, the 3300 BTC you purchased in 2011 would be worth about $323 million.
Yes, my bad ChatGPT lied to me and I blindly believed it 🤣
I don't know why I just went along with that 🤣, Dangers if AI 🤣
I've done the same thing 🤣
I bought BTC in 2011, but the price had risen to $6.50 when I made my purchase. So the number really stuck out when I read Uno's original note. It was an easy mistake to make, especially if you were relying on ChatGPT. It's basically the correct number, but it's missing three zeros.
I have gone round and round with myself about not knowing about Bitcoin in those early days. It was so much harder to self-custody back then, and my life was tumultuous at the time, I just know I would have either lost it or the bitch I was married to would have stolen it. I tip my hat to you sir. Buying when you did and not losing it is a tremendous accomplishment. 🫡
I was active in the #bitcoin-otc IRC channel, which was where all the serious bitcoiners hung out. It was all p2p trades using the IRC channel as a way to establish trust. It was like a secret club back then. I'm glad I took the chance and got in back then because it's changed my life.
