Are you just as bitter that you missed Apple, Microsoft, Tesla, Priceline, Intuitive Surgical or CNR?
Point being, these opportunities are everywhere, always. You're surrounded by them right now, they're just not obvious. But neither was BitCoin. And with the above you're actually buying into a real company, rather than speculating on a price change.
> Are you just as bitter that you missed Apple, Microsoft, Tesla, Priceline, Intuitive Surgical or CNR?
Great point and one that is easy to lose sight of. I think bitcoin stings a little extra because many people on HN thought at the back of their mind that it might be big, but never acted. Whereas, at the time many of these stocks were cheap, most people weren't even considering buying them.
>many people on HN thought at the back of their mind that it might be big
I don't think it's even that for a lot of people. What makes me feel stupid is that I considered buying a few coins just to play with, and if I had they'd be worth thousands.
It's a bit harder to get in on those opportunities at a good price since to get in before the IPO you have to be an accredited investor. Bitcoin has no such restriction and in that way really was/is a one of a kind opportunity.
> "to get in before the IPO you have to be an accredited investor."
Exactly, or a company insider with options, preferably an early-stage employee. Being an accredited investor or early employee in a successful company dramatically lowers the pool of potential candidates to strike it rich.
You could still make a really nice return post-IPO, but it means you need a certain minimum amount of wealth you can risk investing to begin with (i.e. being able to access say, $100k or $1m and hope for a 10x return. This implies you are already upper-middle class or wealthier). I made up figures here so that the return would be life changing for most people. You could hope to turn $1000 into $10k but it wouldn't be that life changing for many people. Again, being able to access, say, $100k in liquid assets would dramatically lower the pool of candidates. Bitcoin was likely a one off like you say.
>Bitcoin has no such restriction and in that way really was/is a one of a kind opportunity.
I disagree. No more than getting in as an early employee at Microsoft or Facebook or Google, or in on their IPOs, or even in early after the IPOs.
Apple returned 100x between 2002 and 2012. Tesla is up 300% the past 12 months. I've seen penny stocks go up 1000% in a day.
It's not like Bitcoin is perpetually turning out millionaires; the money has been made by the early adopters. It's not really any different than any other speculative venture.
Of course, all investments involve some degree of speculation.
But, to be fair I think your question is a bit pedantic. I think your parent is saying that with those companies, there is some way to impute value vis-a-vis products, management, history, etc. That calculus would then inform opinions on resulting price movements.
OTOH, when Bitcoin was at $1, forming an opinion on its price movement was almost pure speculation.
Bitcoin is not a stock, they are not comparable; stocks don't have the same growth curve as new technologies. Great opportunities are around all the time, but new technologies like Bitcoin are not.
Are you just as bitter that you missed Apple, Microsoft, Tesla, Priceline, Intuitive Surgical or CNR?
Point being, these opportunities are everywhere, always. You're surrounded by them right now, they're just not obvious. But neither was BitCoin. And with the above you're actually buying into a real company, rather than speculating on a price change.