throwbtc711

I’ve never cleared that amount of money on an exchange. For ~1M and above you use OTC a brokers. You have brokers in the US that can transfer you $20M per day without impacting the market in the short term. That’s how big ICOs liquidate their crypto millions.

No, they can’t. And even if they could the network would just fork to a different hashing algorithm, which means that the attacker would have had burnt hundreds, if not thosaunds, of millions for nothing.

But the thing about Bitcoin is that it’s made to be censorship-resistant. It is resilient. If you read Satoshi’s posts on Bitcointalk he simply assumed Bitcoin would have been banned at some point, and that’s why he made the design choices he made. Bitcoin is designed not only to survive but to thrive in an adversarial environment.

But then, even if a government ban could really destroy Bitcoin (i’m certain it wouldn’t, I remind you that Russia banned it for a while and 0 fucks were given... what about sharing films on Bittorent? Did the ban do something?) you say there’s a 5% chance the ban will not happen.

I will take any day a bet that gives me a 5% chance that every dollar i bet becomes $10k. And I won’t exit that bet unless i’ve made enough money to retire comfortably, which is what is happening to me now.

I disagree. I don’t want to play the smartass, but I’ve been into Bitcoin since late 2012 and I just started to sell very recently, when a small investment (low 4 figures) and some lucky events like particiating in early ICOs (for ex. Ethereum in August 2014)became a life changing amount of money (high 7 figures).

This is not entirely true because I sold a little (very little) in November 2013 just to be able to “touch” those paper profits. I needed to see they were real and could impact my life. Anyhow 95% of my stash remained untouched until very recently.

The rationale for me was crystal clear: this technology has the potential to change the world forever (yes, I’m a true believer). This shit can be the biggest revolution since the internet. Sure, it can go to 0, but the downside is clear: I could just lose everything that i invested, which definitely was money I could comfortably afford to lose. On the contrary the potential upside is enormous, 1 dollar could easy become 10k.

Therefore I simply decided I was not going to sell unless I could comfortably retire on the profits. And that I would leave a little btc for my kids, no matter what.

I really can’t understand how anyone could buy Bitcoin early on with a different mindset.