In 2012 while going through Ycombinator I had the opportunity to purchase bitcoin, after all Brian Armstrong was starting Coinbase right there, literally next to us at the Tuesday dinners. Buying just $100 of BTC at the time, price $6.65/btc , would have made 3000x returns. But I did not buy then.
BTC didn’t stop there. When it was at $600 per coin, I could have bought some, but it did not quite seem like a good idea. Then BTC hit $2,000, and it was now ridiculous to put money into something so volatile. Then it hit $20,000... At every upwards movement of the coin, it seemed crazy to buy, but later totally crazy not to have done it.
Crypto is a great representation of living in the future. While the world at large defaults to being pessimistic and negative, it really pays off to be open-minded and looking on the bright side. I love this tweet from Garry, it sums it up really well.
The hardest part about early stage investing is being strong enough to resist saying “This will never work.” The antidote to this is asking “What if it did?” And “What do others understand about this that I don’t?”— Garry Tan (@garrytan) December 26, 2017
The magic is in the ability to believe in the wild, and to be totally and completely open minded about it. Every reason for not buying bitcoin all these years was a great reason, but doing the opposite, looking for those parts that might work, enabled quite a few people to attain new wealth.
Positive outlook on the future is rewarding.