Bitcoin Forum

I have been "playing" bitcoin since first day i knew about it in early january 2014 i have done a lot of thing in bitcoin such as buying bitcoin just to save in online wallet, Mining with hardware, buy cloudmining contracts, Trading for fiat, Trading for Altcoin, saving bitcoin to paper wallet, and try to redeem private key from paper wallet joint to the local and international bitcoin community and etc..but from the begining untill now and with all 1.5 Years experience and then i found there is nothing have changed in my life i mean as simple as i say those are not yet make me a rich man. And then there is a question that i want to say : is there a something wrong with my decision about bitcoin

I'm failing to grasp the point of this thread. Are you saying that neither one of those things had any major affect in your life?
What decision exactly? Your English is kind of making it a bit tough to properly understand.

Only if you were expecting to be a rich man in 1.5 years.

Most of us became rich in our 2nd week of being introduced to bitcoin,you must be doing something wrong. :-\

You're doing fine. I find it curious how you say Bitcoin didn't change your life. I've been around Bitcoin only a few months more than you and it definitely changed my life. It's not part of my daily routine and it made me see money and finances very differently... And made me aware that's possible to keep your own money safely without trusting banks. If that's not changing one's life, then I don't know what it is :)

OP i believe you are failing to realize that progress takes time; you won't get rich with bitcoin if you don't either make large trades, run a bitcoin service,
or invest and hold until bitcoin hopefully gets more spread out.

The point i'm trying to make is that it takes time to monetize on bitcoin, both that and eventually you need to take some risks, without that you won't get far, trust me.
btw is there some particular change you were expecting to happen ?

cheers

You've learned a lot about bitcoin. Remember; Knowledge is everything.
If you have it then they'll come to you to learn. And your experience will worth more than you've spend on it to learn.

Do you really want Bitcoin to change your life?  Be careful what you ask for.

I sure has changed mine:

I have been arrested by Homeland Security, thrown in county jail for one night, then into solitary confinement for two nights in a federal jail, had my house and business raided, had my clients business raided, lost my contract, they took all my computers and all the cash and Bitcoins they could get their hands on, spend almost $300,000 on legal fees, finally the case was dismissed.  Still trying to get my passport back from whoever has it (maybe the Federal court, maybe the Department of State).  All profits I have made for the last four years plus a lot of my retirement savings are gone.  Had to take out a second mortgage on the house to pay all the lawyers.

All for just trading Bitcoins on Localbitcoins.com

Count your blessings dude.

More info at www.burtw.com and www.jmwagner.com

PS, yes, I have learned a lot in the last few months - but it was about things I never wanted to learn about.

Ouch. Hard lessons.
It is more to do with discovering the absolute power of the state, than anything to do with Bitcoin, I would say.
The state tends to come down hard on anything it does not understand.

I hate to be a downer but I am severely depressed by all this.  I used to be one of the biggest supporters of Bitcoin you could find.  Just look at my first 4000 posts.

Now it is all gone.  Four years of almost constant daily Bitcoin involvement, gone.  My wife never understood Bitcoin, now she does not understand it and HATES everything about it - and rightfully so.

I don't know why people around here think they can get rich in a year.  Of course there are stories like this, but most of the time you have to settle for more reasonable returns.  Compared to other areas, I am doing very well % wise in the crypto world.  But if you start with 100$ and double it every year (%wise an impossibly good return) then you still will never be rich. Unless I live a very long time I guess.

You just have to look at it like this: if you like the crypto world, and you like what it has done for you, then stay.  But if for some reason you don't like it, then you can leave too.  Or you can leave from active trading and investing, and just hold what you already have.

If you want to get rich?  Spread the word.  Get a bitcoin bumper sticker.  Ask local retailers if they accept it for payment, and then use it to buy some lattes.  Tell your friends about it and explain why it is not a ponzi scheme.  It pretty simple, the more people use it, the more it will be worth.

But not too soon, I like the low price so I can get more cheap.  I would be happy to see these prices for another 5 years.  (dodges tomatoes)

As far as I can read/understand your post, I really don't see a reason of why it should have had an impact on your personal life the way you used Bitcoin. If you want to get rich from Bitcoin, just forget it at this point, unless you're a great trader with sublime market understanding and great financial resources.

I don't know about you, but I am thinking by year 14 things are looking pretty good. By year 20 things are just peachy. I wouldn't consider either milestone as living very long time, unless you are already 80. :)

$100 investment doubled every year for 20 years:

Year 0: $100
Year 1: $200
Year 2: $400
Year 3: $800
Year 4: $1,600
Year 5: $3,200
Year 6: $6,400
Year 7: $12,800
Year 8: $25,600
Year 9: $51,200
Year 10: $102,400
Year 11: $204,800
Year 12: $409,600
Year 13: $819,200
Year 14: $1,638,400
Year 15: $3,276,800
Year 16: $6,553,600
Year 17: $13,107,200
Year 18: $26,214,400
Year 19: $52,428,800
Year 20: $104,857,600

As this discussion is about you, and not bitcoin, it belongs in the offtopic section, not in the Bitcoin discussion section.

Warm regards

You did everything perfectly. You easily have enough to that you can sit back and relax on the sidelines until the game's over. You're going to own a nice house & stuff one day soon. 1 BTC -> $20,000+.

With 1.5 years experience with bitcoin, you could have had an online bitcoin business, kickstarted a local bitcoin community, introduced bitcoin to businesses around you and you didn't do any of that. You are whining about not being a rich man. Bitcoin price is not going to rocket 10 times in the next few years like it did before. Your life will not change until you work for it.


Everything is wrong with your expectation of bitcoin.

I came back using Bitcoin last October. I must say that Bitcoin have changed my online life drastically. I am not earning around 50 USD every month for just posting online - instead of less than 10 USD freelancing before I use Bitcoin. I look at others pitfall and avoid them. I did not invest any money into Bitcoin - I only invested time. I buy cloud mining hashrate using my signature campaign payout. Although I dont have ROI yet but it's a good lesson for me - did not buy a physical miner. I think I did the right thing starting up a Bitcoin-related website which is earning every day. Like what jbrnt said, you should really do something different for Bitcoin - this is a way to earn more Bitcoin.

it depends on a lot of things , but first of all is the time that you (and i) got into bitcoin. 1.5 years ago bitcoin was around $700-$800 and it is all down the hill from then, and unless you were day-trading or at least trading consistently there was not an actual profit gained from having bitcoin.

and also i think it mostly depends on how much money you are investing in bitcoin, obviously you can't get rich with a small amount of initial investment, you well get a percentage of your investment. for example trading altcoin with 0.1BTC is profitable and also it is with 50BTC.

but all that said 1.5 years is nothing if you want to get rich and successful , you have to have more sleepless nights than that. but you can look back at the amount of time and money you invested in this period and see how much you took out.

My point is that all i have done and all my decision in bitcoin for example trading and especially  buying a cloudmining contracts is a big mistake because many of the cloudmining contract i bought were gone and scam

I knew about Bitcoin back in 2013 when it was worth about $12. I couldn't find anywhere to buy it at that time, or whatever places there were I (for whatever reason) still couldn't buy them.

I downloaded the Bitcoin core, then gave up on that when firing it up the fan in my little lap top went so fast I thought the PC was going to take off like a helicopter. Fast forward a couple of years where I more or less forgot all about Bitcoin and it's now worth... what $287.00 today?

There was also something wrong about my decision with Bitcoin  :-[ It was not getting in sooner.

I will say though, I don't think the hold forever tactic works. I think hold for some time does.

don't worry about making mistakes. everybody makes mistakes.

the important part to keep in mind is to learn from your mistakes and never repeat them. i've made a lot of mistakes in my life , more than i care to admit but i always try to make better decisions based on the experience that i have gained and eliminate the bad ones.

My almost 2 yeas with bitcoin has changed my life.
It hasn't made me rich and changed my life that way but it has opened my eyes to much more than i ever knew was out there, and that is priceless.

I also been going to a few bitcoin meetups in the local area and always meet great people, everyone around bitcoin just seems excited and really think they are onto the next big thing. I have never seen anything like it.
2years ago i hardly even knew how to use email, now i make my own paper wallets and always try out the lastest btc wallet, just love learning about this stuff.

Wow!!! :o
Well Burt, I'm pretty sure we're all being watched and profiled on these forums by law enforcement.
Wonder who they'll go after next? ???
I'm not worried as I'm a small timer compared to you! ;D ;D ;D

OP...don't worry!
Hold onto your Bitcoins...one day you or your children or grandchildren or great-grandchildren will thank you! :D

People overestimate what will happen within 1 year and underestimate what will happen within 10 years.

how about genesis mining? what i see from genesis is it seems to be a legit cloudmining company

Sounds like you have been using Bitcoin as a hobby. How exactly should it change your life? If you did international business frequently, Bitcoin could save your company a lot of money. If you don't have a stable local currency, Bitcoin can save you from hyperinflation and bank freezes. If you don't really have any problems that Bitcoin solves, you shouldn't really expect any drastic changes to your lifestyle, which isn't a bad thing.

it's because many were so lost when they have seen that early adopters(not talking about those that lost their coins, or sold for $1) have made a fortune in a short time, they want to copy them, even today this is true

and it say the true about how people see bitcoin as a rich quick scheme, they want to be like those early adopters that were lucky because have embraced bitcoin at the right time

Bitcoin is not a get-rich-quick-scheme.
If that is your whole goal with Bitcoin and that is how I understand your post, than please leave the Bitcoin space.

Bitcoin changed my life. Not in a major way, but there are just some little thing, that made me smile, when I realized that is what Bitcoin can be used for.
If you can't find such thinks, than Bitcoin isn't for you.

Did you sell against cash or online transfer ?

Cash only as it is the safest way to to do it.  However if you get on their radar they can claim you are a MSB, arrest you, etc.

I wonder how long it will take you to figure out that Bitcoin was not created to make you rich.