Who would be buying crypto at these prices?
Navigating randomly on the Internet, I have stumbled upon a picture depicting a moment in the crypto existence which stood out not just for its significance, but for the sheer and unintentional comedy that transpires out of it. This is the case of a perfect example from a forum post from July 6, 2011, where a user named Edward50 questioned the sanity of those buying Bitcoin at the "absurd" price of $13. Fast forward to today, and that post serves as a hilarious reminder of how far Bitcoin has come and how little we sometimes know about market potential. That in case you were fearing the current crypto market drop and wondering what might follow...
Crypto skepticism
Edward50, whomever he is, with all the earnestness of a seasoned skeptic like many of us, couldn't fathom why anyone would shell out $15 for Bitcoin, especially after it had recently dipped to $11. He could only see that only speculators or manipulators could be behind such purchases, aiming to sell off quickly or artificially prop up the price. "Who would be buying at these prices?" he asked, amazed by the audacity of buyers in the market.
Crypto comedy
Reading this and thinking of the current market conditions, I believe that this post is a comedic goldmine. Bitcoin's journey from $13 to its current value in the middle tens of thousands is a testament to the unpredictable and often laughable nature of market predictions. What Edward50 saw as an overpriced gamble, history has revealed as a groundbreaking investment opportunity.
Crypto turnover
This snapshot from the past is a gentle reminder for all current and future home-made crypto "investors": market skepticism is healthy, but the future often holds surprises beyond our wildest imaginations. So, if you're feeling down about your crypto investments today, just remember Edward50 and the $13 Bitcoin. One day, your investments might be the punchline to someone else's joke—or, better yet, the "I told you so" of your financial journey.
Instead of watching the market, better work on accumulating more assets from the projects you've done DYOR and truly believe on. Things might not happen overnight, but in time the real life use cases will be proven and once that happens the real growth takes place. And with that the value will be reflected in the asset price as well and you'll enjoy the spoils just because you hodl onto it and didn't stop consolidating. We need to learn from the crypto history emblematic moments like this one and stay the course. This is the way!
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Ha - that's a great snapshot in time. Funny but also DEAD serious
No one knows what will happen next.
Market turned around... proving the point. Let's see where it will take us from here.
Also, some people feel BTC has gotten to its peak but I feel it’s just starting
The next pump we’d be having will be a very loud one!
It's summer, it's vacation time... so it is for Bitcoin as well. :))
Hmm
You brought us back tho those good old days. The smart ones are busy filling up their wallets now with crypto
If I’ve got some funds too, I'm surely buying Hive
Growing in numbers is key for big earnings in the future.
😜 yup! it's absurd indeed!
but adding to, and adding more stacks is THE WAY..
Never stop accumulating... until you sell. This is the way!
🤔😉 great tip. thanks! :)
This is the "money shot" right here, and it absolutely could apply to Hive:
The hand wringing at the current token price fails to recognize that these are all parts of regular cycles. I was there during the dawn of Bitcoin and can recall the ridicule from people who couldn't see the utility of the blockchain right in front of them. And still can't, and likely never will.
Cycles upon cycles, history repeating. Just need to take some popcorn and watch the show.
interesting story. History does really repeat itself and everyone always has a story.
We just need to remind us from time to time about market cycles and that things cannot always go up.
In some sense, I am grateful that my stake in crypto is so small and insignificant that I don't have to worry too much about "number watching."
That said, the more crypto goes mainstream, the more it would seem that it becomes influenced by mainstream economics, rather than being independent of it.
Markets are weird, though... running more on rumor than reality.
I try to look at whether or not a project (or a business, for that matter) is growing or shrinking.
We need to forget about the price until we are ready to sell. Until that happens, simply accumulate each day.
Wow Seeing Bitcoin at $13 back then is crazy now. Sometimes, you just have to believe in the long-term potential, even when it seems unlikely.
It can happen to any token, even with the meme shitcoins if played right.
Absolutely... Well said bro. I liked the term it's a perfect description - Shitcoin hahaha
@tipu curate
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