Thursday, February 22, 2018

Bitcoin Regret Club: Have Fun Making Yourself Feel Bad

I came across a website this morning called, "The Bitcoin Regret Club."

It's a site that can calculate how much your Bitcoin would be worth right now had you bought an amount of it in USD on a past date of your choosing.

I actually first heard of Bitcoin right around the time that the white paper was released. I then spent several years after not doing anything with the knowledge of it; I understood what Satoshi Nakamoto and the Bitcoin community at the time were trying to accomplish, I just didn't think they could pull it off. So I didn't start buying until around 2015, which did allow me to build up a position with a very nice cost basis relative to today's Bitcoin price, but far higher than it would have been had I gotten in at the beginning.

That is why I used the earliest date allowable by the Bitcoin Regret Club calculator, the 18th of July, 2010, to explore an alternate past I might have lived:

I input $10, because I sometimes think to myself, "even if I thought back then that Bitcoin amounting to anything was a long shot, what would have been so bad about just risking $10?" There's a lot of reasons I probably didn't, aside from what I've already mentioned of my thoughts on Bitcoin in its early days. But if I had taken that tiny risk...

...then I'd have a net worth of at least $1,158,767 USD today.


For a bit more fun, the calculator can convert your hypothetical Bitcoin riches into various items for comparison, such as the number of McDonald's franchises you could buy, your net worth compared to Oprah, etc.

I converted my hypothetical Bitcoin riches into Top Ramen, and it turns out that I could have had nearly 5.8 million packets of ramen, had I only parted with roughly 100 packets worth of them about eight years ago.

Like I said though, this is just for fun. The whole, "if only I had done X" routine is mostly pointless (and depressing), because you can't go back and change what you did in the past.

You can change what you do in the future based on such experiences, however, which is why I now frequently place small bets on long shot ideas, like what Bitcoin was not even a decade ago.

Who knows, I may yet end up living in a mansion made of Top Ramen packets after all.

Anyway, if you want to try the calculator and laugh as you cry, you can find it here: Bitcoin Regret Club. Have fun!

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