Buying Bitcoin in 2014

February 15, 2021

Buying Bitcoin in 2014

Everyone wishes they bought Bitcoin or got in on the GME hype or invested in [insert exponential growth investment]
I remember back in 2014 was when I first heard about Bitcoin and was offered it as payment. I’d be a multimillionaire today if I had accepted it.
But I always think that getting in on these hype investments is synonymous to winning the lottery ticket. A lot of luck is involved. (I will give mad props though to early adopters who researched fundamentals)
But anyways
There is a lot of research that shows people who win the lottery don’t have significant long term changes in happiness.
Here are likely a few reasons for this
1) winning the lottery means you became wealthy not off meritocracy but off luck. This is not a great feeling
2) the skills, hard work and experience of building wealth is skipped. Your wealth changed but you didn’t gain any new skills or knowledge
3) going from 1 to 100 in wealth is difficult to manage. We are bad at step-ladder increments as opposed to linear. IE we flinch at initial hot water, but can slowly increase the showers heat as we slowly adapt to new temperature
Anyways
I ocassionaly think about these things to make myself feel better for not accepting a few hundred Bitcoins back in 2014
Does anyone know what the next Max Lotto prize pool is?

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Jeff A. Wang

Hi there! My name is Jeff and I write sometimes. I studied Business, Economics, and Philosophy at Villanova University, and am an incoming law student. I’ve studied abroad four times: Singapore, Shanghai, Hong Kong, and Cambridge University. My hobbies include performing magic, writing, reading, basketball, MMA, traveling, and hiking.

3 responses to “Buying Bitcoin in 2014”

Jeff A. Wang

February 16, 2021 at 6:40 am

Great return Dr Borden. I hope you’re well and I always appreciate your comments on my posts!

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Luis

February 24, 2021 at 11:23 am

The story with me is more or less the same. Around 2014/2015, I had no idea of what Bitcoin or digital currency was, not even how to invest on it. But my business partner at the time turned to me a couple of times and asked: “Do you have any idea of how much a BItcoin was woth in 2010?.. Do you know know ho much it is worth now? Anyone who has invested peanuts has now xxx $!” . But I was so damn busy with our small business and also taking a degree that I didn’t even want to hear. I thought I could lead my life the way you’re supposed to – working, studying, growing as a person and evolving your professional and technicall skills. I could do well without any weird, unknown and volatile investments… Now, I do really regret not having heard what was “in the air” a few times… All the mentioned is important, don’t get me wrong, as you say in your text.. But surely a few hundreds BTC would come handy now…

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1. Jeff A. Wang
  
  February 24, 2021 at 11:46 am
  
  All of these volatile investments that have created so much wealth is just bizarre. In all honesty, would be nice to see how those “value” can be applied to the real world.
  
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