If I had spent 20,000 yuan on Bitcoin 14 years ago and held it until now, would I have become wealthy?
In the summer of 2011, I mined Bitcoin for a few months and ended up mining 100 in total, selling 92 and keeping 8 as a keepsake. Later, when I ran out of money, I sold 6 for 4,000 yuan each. At that time, I had been behind on my dormitory fees for half a year while studying abroad, and if I didn't pay my tuition soon, I would have to drop out.
Later, when I faced another financial crisis, my credit card was maxed out, and I sold another for over 10,000 yuan. Now, I only have one left. Back then, I also mined an Ethereum, and with a BCH that was given to me, it counts as a memory of over a decade in cryptocurrency.
If I hadn't been so financially strained, I might have kept all eight. Unfortunately, as an ordinary person, there aren't many opportunities for a turnaround. 14 years ago, I asked my parents to help me buy an apartment, but the property prices rose, and six months ago, I was forced to sell by my parents. A 700,000 yuan house yielded less than 100,000 yuan in profit after four years; a few years ago, I checked and found that prices had increased two to three times.
Being poor really makes it hard to turn things around. To make a comeback, one needs some capital. Those who could spend 20,000 yuan on cryptocurrency 14 years ago probably didn't need a turnaround.
In fact, most of my friends who mined coins with me in 2011 have also kept very few coins. Of course, from the day I started mining, I was already very happy to benefit from something that just fell from the sky. It was free money; why should I be upset? The only thing that makes me sad is being poor for ten years.
