Author Topic: Missed opportunity  (Read 756 times)

Saleh

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Missed opportunity
« on: July 03, 2022, 08:34:01 AM »
If this zip file had been posted to the BCX group in 2009, Maybe we were all millionaires now  ;) :D

MrBcx

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Re: Missed opportunity
« Reply #1 on: July 03, 2022, 12:58:19 PM »
Maybe ... Maybe not.

I attained my wealth the traditional way ... by a life time of hard work, living within my
means, saving money, staying out of debt, making prudent investments, mostly buying
S&P Stocks & Bonds and local real estate.

About 6 months ago, just for fun, we "invested" $100 in Cardano (ADA digital currency) just
to see how it would do.  Today that $100 "investment" is worth $45.  I have long believed that
digital currency is just another Ponzi scheme.  Some people have gotten VERY wealthy
buying/trading/selling digital currencies but I suspect most digital currency "investors" would
reluctantly admit to having lost a substantial portion of their earlier wealth. 

UPDATE11/21/2022 Today that $100 "investment" is worth $31.
« Last Edit: November 21, 2022, 07:33:19 AM by MrBcx »

Saleh

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Re: Missed opportunity
« Reply #2 on: July 04, 2022, 07:30:27 AM »
Thank you kevin, yes that is true.
But my mean is that about Bitcoin mining at the beginning of its existence in 2009.

Wayne Halsdorf

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Re: Missed opportunity
« Reply #3 on: July 04, 2022, 11:52:51 AM »
I looked into bitcoin mining in the beginning it was about 10k for rig that would produce on average 1 coin per month when running 24 hour per day. You would have to sit on those coins for some time before what it cost to make a profit (coins were cheap then). Putting that same 10k into IBM stock with reinvesting the dividend, its referred to a DRIP, your 10k investment in 2009 would be worth about 23k and paying you about 285 dollars every 3 months.

Saleh

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Re: Missed opportunity
« Reply #4 on: July 05, 2022, 04:55:01 AM »
But the situation was different in Iran, The cost of electricity was very cheap or almost zero. On the other hand, the value of the Iranian rial against the dollar was decreasing day by day, So Bitcoin mining was extremely profitable.

MrBcx

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Re: Missed opportunity
« Reply #5 on: July 05, 2022, 11:41:41 PM »
But the situation was different in Iran, The cost of electricity was very cheap or almost zero. On the other hand, the value of the Iranian rial against the dollar was decreasing day by day, So Bitcoin mining was extremely profitable.

Cool ... does that mean you're buying the next round?  :D

Saleh

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Re: Missed opportunity
« Reply #6 on: July 06, 2022, 06:01:40 AM »

Cool ... does that mean you're buying the next round?  :D

Of course, gladly  8) :D