Today I found out when the "Buttcoin" movement actually started, and what the price of BTC was at that time. It's... depressing.

This afternoon I got curious and did some research on the "Buttcoin" movement and found out it has actually been around for a really long time - some of these guys were absolute trail-blazers in terms of their awareness of the project.

It started in late 2009/early 2010 on the 'Something Awful' forums, where the initial posts were made when the price of Bitcoin was just 0.25 cents. But it really gained steam when it shifted off of Something Awful and to the site we know and love - at that time BTC was still only $16.54.

This movement has been saying Bitcoin was a bubble/scam that was going to crash into the ground and would not see any real adoption since inception. Their core user base were actually some of the first people to hear about Bitcoin. Though obviously over time their movement has morphed to focus on the wider cryptocurrency ecosystem, including hugely adopted projects like Ethereum.

To put their lost opportunity in perspective, a $100 purchase of Bitcoin when the movement arrived here would be a over $187500 right now. That fact is depressing for me to even think about, and it gave me a lot of perspective on why they would be this passionate about the issue. Can you imagine having to live with accepting you passed over that opportunity? Opportunity cost wise they are literally the worst investors in modern history, and continue to dig deeper year on year.

The more embittered they become about the price evidence infront of them and the lost opportunity, the more entrenched they need to become in their ideology to feel comfortable, it morphs into a religion, the longer they force themselves to hold out in accepting reality the deeper they dig. People who passed BTC at 0.25c cheered when it fell to $17,000. I don't believe at this point that any level of adoption, demand or price will be capable of changing the minds of the idealogues.

At the moment it seems like the Blackrock ETF has come as a bit of a hard shock, with some followers suggesting it's fake news spread by the BTC crowd, and others saying Blackrock still think it's a scam, but want to pilfer wallets on the way. I guess we'll see what happens over the next 5 years.