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Value/Post Ratio
152%
- Jun 14, 2015
- 174
- 265
At the time I started this the price of bitcoin was around three bucks.
At this time mining the coins was incredibly easy... once you had the setup.
all you needed was a computer and patience to download the core, set it up and begin mining.
In a few hours hundreds of little coins would begin showing up in the mining software.. about 50 at a time.
they were useless, they were pointless and they were kind of fun to collect, like a cookie clicker game or pokemon.
However many people who were interested in getting into it did not have the patience to set up the software. It wasn't until later that the mining program had a graphical interface, and the early version was akin to a dos window that you keyed commands in.
so naturally I tried to sell the coins.
for just $5 I would send you a packet of 100 coins. it was just for fun, to see them traded and used. They had no real world value and because of this no one wanted them. I wasted a few weeks trying to chase leads, convincing people to trade ''bitcoins'' for $5 during this time I made exactly ZERO sales total. It wasn't a real product and few people cared enough to entertain the ideas of sending real currency for fake currency.
No one saw any value, no one was willing to put down currency for something that was gaining popularity a cent at a time. I stopped trying, wound down my machine and turned my attention to the next big thing. Soon after mining pools made the difficulty so high that I no longer could unlock a block without the help of a pool of people, working to share the profits.
Welcome to the bitcoin craze. Bubble or not each and every coin can be resold at a profit well exceeding the minimal account i was selling for.
the same people who had reticulated me now prosecuted me trying in vain to contact to buy, as the price rose and rose higher every day. I closed shop, locked down my contact and weathered out the storm.
The small amount of power it took to mine coins then has ballooned to entire factory of water cooled machines working day and night to unlock the next block.
I never spent a single coin. Maybe I never will. I still work at my job and pull in a modest sum.
nothing has changed since now and then, simply a circumstance of luck that I cared enough to play with a program.
But how crazy it is to see the people who scoffed at spending a single five dollar bill, trying unwisely to max credit cards and trying to purchase a single coin, when in the beginning they could have done the same, or purchased a fortune for the price of a candy bar.
The really strange thing comes later.
when the price of bitcoin hit 10k a coin I went on a youtube hunt.
every video I found talking about bitcoin, I posted a link to a form.
''Fill out the form= get one FREE bitcoin''
Then I posted questions
Why do you want it
What do you plan to do
How did you hear about bitcoin
What is your plan for the next year
Do you have a bitcoin address : needed to collect coins
Not. A. Single. Person. filled out the form.
Read again, not a single soul filled out the form for a possible exchange of ten thousand dollars.
sure, I could have been a scammer. Sure I could have been wasting their time.
But the form got 300 views, and zero submissions.
It blows my mind.
At this time mining the coins was incredibly easy... once you had the setup.
all you needed was a computer and patience to download the core, set it up and begin mining.
In a few hours hundreds of little coins would begin showing up in the mining software.. about 50 at a time.
they were useless, they were pointless and they were kind of fun to collect, like a cookie clicker game or pokemon.
However many people who were interested in getting into it did not have the patience to set up the software. It wasn't until later that the mining program had a graphical interface, and the early version was akin to a dos window that you keyed commands in.
so naturally I tried to sell the coins.
for just $5 I would send you a packet of 100 coins. it was just for fun, to see them traded and used. They had no real world value and because of this no one wanted them. I wasted a few weeks trying to chase leads, convincing people to trade ''bitcoins'' for $5 during this time I made exactly ZERO sales total. It wasn't a real product and few people cared enough to entertain the ideas of sending real currency for fake currency.
No one saw any value, no one was willing to put down currency for something that was gaining popularity a cent at a time. I stopped trying, wound down my machine and turned my attention to the next big thing. Soon after mining pools made the difficulty so high that I no longer could unlock a block without the help of a pool of people, working to share the profits.
Welcome to the bitcoin craze. Bubble or not each and every coin can be resold at a profit well exceeding the minimal account i was selling for.
the same people who had reticulated me now prosecuted me trying in vain to contact to buy, as the price rose and rose higher every day. I closed shop, locked down my contact and weathered out the storm.
The small amount of power it took to mine coins then has ballooned to entire factory of water cooled machines working day and night to unlock the next block.
I never spent a single coin. Maybe I never will. I still work at my job and pull in a modest sum.
nothing has changed since now and then, simply a circumstance of luck that I cared enough to play with a program.
But how crazy it is to see the people who scoffed at spending a single five dollar bill, trying unwisely to max credit cards and trying to purchase a single coin, when in the beginning they could have done the same, or purchased a fortune for the price of a candy bar.
The really strange thing comes later.
when the price of bitcoin hit 10k a coin I went on a youtube hunt.
every video I found talking about bitcoin, I posted a link to a form.
''Fill out the form= get one FREE bitcoin''
Then I posted questions
Why do you want it
What do you plan to do
How did you hear about bitcoin
What is your plan for the next year
Do you have a bitcoin address : needed to collect coins
Not. A. Single. Person. filled out the form.
Read again, not a single soul filled out the form for a possible exchange of ten thousand dollars.
sure, I could have been a scammer. Sure I could have been wasting their time.
But the form got 300 views, and zero submissions.
It blows my mind.
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Last edited:
