Just yesterday, I was thinking long and hard about how much money I'd have if I wasn't such a chicken when it came to investing money.
But then again, can you blame me? It was early 2017 at the time and I was preparing for my final exams in the university. I was also working on my final year project at the time so I was spending a lot.
One time, my friend told me about this new cryptocurrency that was looking very promising, but I immediately shook it off because why would I invest in something that I couldn't see? Something that I had zero control over.
2017: The First Big Spike
Ethereum’s steady stride took on more volatility in 2017, and we started to see jumps on the chart where the price surpassed — then dipped back below — all-time highs. The first rapid climb happened between April and June, when ETH went from the mid $40s to a price of roughly $362. It achieved a few more peaks and valleys, until its next all-time high came in December — this time $826. ETH closed the year 2017 around $772.
Despite me refusing to buy into his idea, he kept coming back but my stubborn self wouldn't budge. At the time he told me ETH was trading $40 and I knew he was out of his mind to think I was going to cough out $40, an equivalence of #12,000 at the time. A whooping #12,000( trust me 12,000 naira is good money to an average Nigerian in difficult times).
I thought of it as another ponzi scheme, considering the fact that there were so many ponzi schemes swallowing people's money all in the name of investments at the time.
At the time, MMM was the king of all ponzis and we weren't over the shocked of it. That scheme wiped out billions of naira belonging to the good people of Nigeria. Even my cousins lost massive savings to the scheme. Again, I didn't lose a dime because I didn't invest nada!😁
Well, I thought of Ethereum as another fancy named ponzi scheme. If only I knew better. Just maybe I'd be a billionaire now 🥲.
I think about it everyday, knowing that I allowed ignorance to get in the way of a golden opportunity.
$40 was the seed money required, but to me at the time I was better off spending the money on food rather than investing.
If I could travel back in time, I'd buy a million BTCs when it was trading below $1 in its early days.
I bet you have stories like mine. Please share in the comments!
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