Ask HN: Beside Bitcoin, what has offered a 1 000 000× ROI over 7 years?
$1 invested in Bitcoin in April 2010 turned into $1 million. What else has offered a 1 000 000× ROI over 7 years?
[1] The all-time record sale seems to have been about a bulb selling for 5,200 guilders ( http://www.todayifoundout.com/index.php/2012/12/when-certain... ); and the pre-bubble price of tulip bulbs was about ~1 guilder each.
LinkedIn crashed at the end of 2015, but recovered in early 2016, dropping from around $250/share to $92 and rising up again to $190. If you took $10,000 and invested it and rode that wave... it is now $195. Would've been a 112% ROI with about $11k made.
I did take a risk on investing in another company with $10k recently and made $1000 in a day or two. There are websites out there that help you... its definitely risk taking with chances of losing a lot of money if you aren't quick enough, and while it's not technically insider trading... it's more similar to penny stocks, where timing is everything, and if you have at least a minimum of $10k to invest, and you ride the small waves.. you can make thousands of dollars doing that.
Money makes money and with time money can be made. I have a 401k that I can't touch because I no longer work at the job. I have spoken with financial advisers about touching it or not touching, and while some suggested I move it, the fact remains: My money got invested into some really good companies at early stages that are just not available with any other plans, either with my current company, or Roth IRAs, so leaving the money in there is just best. The last time I put money in there was at 4k. A decade later, it is nearing $12k. Might not sound like a lot to some people, but that is the power of money making money on itself. I haven't touched it because I can't put anything into it. Being as I'm still about 30-35 years away from retirement, I'm sure it will be just fine if I leave it.
Kind of like a Futurama deal... where Fry gets frozen for 1,000 years...
>>The account had contained 93 cents in 1999, but after accruing interest at 2.25% per year for 1,000 years, the balance is now $4.3 billion. ( https://en.wikipedia.org/wiki/A_Fishful_of_Dollars )
It's such a poor idea that you aren't even factoring the risks in. And can barely factor it, as it's bitcoin. What is the chance of this entirely thing breaking down tomorrow as people just give up believing on it? Big chance.
It's completely unusable. I can write a bash script which does more transactions than bitcoin on a calculator. The blockchain model it uses has no scale.
As soon as mining becomes more difficult and we hit close to 90% of the coins and use doesn't increase up(because usage didn't take off, like the prices), this is all worth 0.
Who has hit the jackpot is the one who sells before this ponzi scheme falls down and entered early enough.
2) Possibly various patents.
This is more a matter of the sheer number of people who could become involved in Bitcoin in a short amount of time (i.e. an artifact of the modern era) than it is about Bitcoin per se.
2. Lottery tickets
3. Slipping at Wal-Mart and suing them for millions