Bitcoin Forum

So back in 2012 / 2013 I was quite involved with the Crypto scene, and invested in a mining rig (good old days!) After around a year or so, I managed to mine LTC, trade BTC etc and had somewhere in the region of 5BTC. As the prices all started to plummet, I turned the rig to a desktop computer and stupidly left all of my coins in Cryptsy. Easily done for someone who understood the basic fundamentals of the Crypto world, but not all of the security to go with it.

I managed to recover about 0.2BTC from old wallets etc, and although kicking myself that I could have a life changing amount of money, I've come to a conclusion that I just need to build a bridge and start again!

My question to you all is have you ever experienced anything like this? How did you find the motivation to start again? And what do you think are the best ways nowadays (as i'm 4 years out of touch) at getting back to that milestone of 1BTC in my wallet?

Thanks,

Just ask you a simple question, why did you lose your 5 bitcoin. What was the reason? Did someone steal or hacked or you sell it out on a very low price and now you are telling us that you have lost 5 bitcoin in 2013. And if you or someone else has really lost his bitcoin then nothing to worry, because investing in coins Is like gambling. Some time you will win and sometime you will lose. Try again and you will succeed.

Well you start where you left off this is the best way to start, and besides it is not yet late, the bridge is this forum bitcointalk full of information and update news about what's happening in cryptocurrency world

You have to believe in your ability, know everyone who has a good future of course he must have experienced a failure or loss, but this is where you should be more excited and learn from your failures so it does not happen again in the future, I'm sure. . You can start it again and learn from your previous experience, do not forget I say this welcome back in bitcoin world

I still do not understand how you did lose these amount of bitcoin but I wish you good luck.

Ouch its such a very painful thing to here dude. Well if only i knew cryto a few more years ago i would really love to engage in this business and willing to invest a few amount of money.

I do experienced losing all my stash in C-Cex after a year of inactivity.  I do not file a complaint since I was thinking someone hacked my account and with that C-Cex won't do anythin about it.  I have nothing left but some money in my pocket so I start again by buying BTC  and start trading again.  Lucky, I am able to make it grow and be able to bag around 8 BTC in my trades.  I had learned my lesson and start withdrawing coins that I am not trading.  They maybe reputable but we will never know when they will last like that.

Try again and good luck.... and remember: never trust anyone and always pay close attention. Unfortunately, as in the gold rush of the early 20's, the bitcoin world it is full of crooks and swindlers.

The right behavior is to ALWAYS get up after a fall! Good luck!

Nice to see you back being active in Bitcoin again.  I am sorry to hear that you lost a certain amount of BTC in cryptsy, I guess many lost their coins there after they shutdown.  I believe you have to go back to square one but this time I know it is not that hard since you already have the fundamentals, just need to update yourself.  I guess the best motivation would be your family or dream for yourself.  Many lives had been changed by bitcoins and turned them to better one.  I am one of them.  I hope you all the best and learn from your previous mistake :)

My brother have around 12 btc around 2012 and only thought of it for games purposes and we never realize that it can worth so much that we could buy a house with that amount of money, of course we can only decide in that moment so its impossible to always do a right choice, we spend all that in games that has been server down for a long time ago.

It frustrate me a year ago and thought that would never go back to crypto world but after seeing my brother working hard just to earn decent amount of money it made me realize that there is still a future with cryptocurrencies even its kinda late, so I started searching about btc and that is the reason I got to this forum.

Sucks to lose Bitcoins. I could say I sold bitcoins way too early and did stupid investments with them. Still, it made me a better trader then I was in 2013. Who knows how I could lose them later on if I did not learn before. The good thing I can tell you it's not too late yet. There will only be 21 mil bitcoins in total. I lost like 25 BTC from investments near 2013 and held a few very tightly that I still hold today and made even more by trading. So what I got now I won't lose again until its time to cash it out. But believe me, that's not today. ;)

It sucks, i hope you will recover and will find the right track (again). There was a very good sports-related commercial several years ago, in which the main slogen was an old wise saying: fall down 7 times, stand up 8. That is the right mentality, i guess, so good luck!

This is so sad to read 5 btc with today value and ever rising prices it will increase that's a huge loss. What you can do is move on and start once more, see the motivation is the rising price and financial freedom, see if you want to earn Bitcoins it will be small but will grow as per your Rank and efforts. Enroll in a signature campaign that will help you earn some coins quickly, if you can sell some services or products then you can do that here. It will take time but stick to it and you shall reap good benefits just this time don't mess up and use a strong wallet not exchanges to store coins.  

It is always hard to get back to the game after you lost almost all you earn and when you know how much you lost in today value.But you lost some of your time and money,you still have the will and chance to come back.Now you know that online wallets are not safe and you will not make the same mistake again.

You need to ask yourself do you really want that 1 BTC in your wallet,and if you want it then you will find way to do this.Otherwise for some 5-10 years if BTC become a few times more valuable than today you may be sorry because you did not try to start again today.

Going over what happened in the past and whinning over it wont solve any issue and for someone like you, I dont think its going to be too difficult to get back on your feet due to the fact that you have been very much involved before and the old ways of making btc, have nit really change from the past years so what I will advise is to go back to the drawing board and identify where you can feature in the scheme of things and trading to me might be your best option at this time.

I like it when you said "Time to start again". People with a strong willpower will certainly achieve what they aspire. In your current case, never stop believing in yourself and in bitcoin. Stay positive and aim for higher ambitions because it is never too late. In fact, bitcoin price is always growing in a matter of a short time. Therefore, I think you will be able to pull it off and get a hold of it in the near future. As for me, I did not know know about bitcoin in 2013. I started to hear about it in the beginning of 2016, and now I am really being motivated since bitcoin is my current source of money.

hehehe....i believe you specaulating you lost 20000$ worth BTC but thats not completely truth because back there that was just around 1000$ which equal 0.25BTC today. What if BTC today wouldnt be wort a penny would you care that you lost 5BTC in 2013? So leave the regrets behind and jump on BTC rocket! You might will have 20 x fold in value by 2021!

I lost money too in Cryptsy, about 0.28 BTC... that was the first and only lesson I needed to never, ever let money again in exchanges unless it was strictly necessary to trade.

I also lost about 1.4 BTC that I could have made from Auroracoin because I didn't sell, I got too greedy. It was all mined, and I saw myself breaking the 1 BTC goal (that was my initial goal at the time). I was so happy to finally hit 1 BTC, but I didn't sell the damn altcoin, and I woke up with Auroracoin crashing and no longer having 1+ BTC. I finally sold my AUR for a couple bucks. This was to lesson to learn to not get too greedy with altcoin trading and get my BTC profits before its too late.

You must keep going, there is no stopping in the hustle for BTC. I would get a job and buy some each month at whatever price. I would try to get on a sig campaign to get a small extra at the end of the month, but unless you are Hero-Legendary you aren't going to get much more than a couple extra bucks, but every satoshi counts and you will learn along the way as you become Hero-Legendary.

Well, that's a really good amount of money you lost there ! But it's never too late to start over, because we believe in the potential of cryptocurrencies. For more knowledge about bitcoin, I think you are at the best place to catch on everything related to cryptocurrency. There are also bounties and signature campaigns  to participate, if you are really active in the forum, contributing with knowledge. You should also showcase your skills, and if they are really good, people can hire to do jobs for them. Very soon I am hoping to start my own signatures designing ( don't have the time at the moment) but that's an idea that I had while I was around the forum.

I have Bitcoin is worth 29x more ny 2021. Who knows what will happen. Yes when this happened it was only worth $1000 and now it is $20000. Maybe he would have sold it and not even kept it till now. It is hard not to kick yourself though I can understand that. I lost $1500 decently from scam site etheruem-wallet.  It's not nice it's horrible. It makes me so angry.

I feel for you man buy you are not the only one. There are a load of people who also had alot of bitcoins early on but sold them or bought pizza's with them. Learn from this mistake and move forward. You don't want to be kicking yourself again when  bitcoin hits 10k!

Was just like you, I started in early 2013 and left after the "Silk Road" seizure when the bitcoin value went to hell.
The time I left the bitcoin I sold all my bitcoins thinking that is the end for bitcoin, but I was wrong! Now am back trying to make a decent living with bitcoin.
Hang in there, put yourself together, and take some time to watch videos for bitcoin success story on YouTube that will be enough to get your motivation back.

Losing 5BTC is quite a lot. I've left crypto on exchanges (Cryptsy, BTC-e, Bittrex) for multiple years but dodged the bullet through pure luck. The incident with BTC-e.com finally motivated me to do something about security by withdrawing the bulk of my crypto from exchanges and setting up an own wallet. And how to reach the milestone of 1 BTC again? Well, you could buy 1 BTC but the price is quite significant these days to say the least. I'd say a combination of a relative small purchase (0,1 BTC?), trading and work that gets paid in Bitcoin.

Have you lost your wallet key / password? 1 BTC is already something, proposes to invest in a good altcoin :).

I would start where I left off and would as much as possible correct my mistakes for whatever reason why you lost the 5 btc. But the question is, are you still going to mine just like before or what kind of strategy are you going to apply this time to earn bitcoins, make a plan first before jumping into the water. Anyways I wish you good luck and welcome back to the cryptoworld!

Wow, I can only imagine how you feel. But hey, it sounds like you have an intensive background. Starting over should be a cinch for you! It's never too late, and you might as well start sooner rather than later. Good luck mate!

These sort of situation happened to everyone who started early and i have invested more coins in cloud mining sites and other sort of mining and have left out thousands of dollars worth of coins in many sites which are not active at the moment because things were not serious during those time and i did manage to keep mining in the mean time and now i am happy with my situation.

My guess is that he stored his 5 BTC on Cryptsy end never withdrew them at the time they collapsed. You keep hearing this over and over again.

Had that happened to me my motivation would be the money! You know you've done it before, you know investing time into BTC was worth it as it would of been a life changing amount nowadays, so if you fall off that horse, you just gotta get back on it.

It's too bad.   >:(  But this is not the end of the world, there is a lot of peoples are lost their private keys in the past and they have a high number of bitcoin in their wallets. So start from the beginning again, now you have much more experience about crypto and bitcoin, so i hope that you will get 5 btc or more in a fast period.
Good luck.

Starting all over should just not be a big deal for someone who has been in the industry before and understanding how the industry works with it's challenges and opportunities. And good that trading is just the surest way to achieve it as any other means is not as potent as that other than trading, every other means is struggle to the best of my thinking.

Glad to hear that you are an early adopter of bitcoin. Maybe before bitcoin is not yet popular and seems no future for it adding that it is used in fraud and other illegal activities.

To OP, 5 BTC now is too much already now, it gone so much appreciation but still its not not late. think its  still too early to invest in bitcoin.

I still believe that in the grand scheme of things were still very undervalued, even if we just have a single use case as a store of value, so its never too late to join and start up again. I joined in 2012 and I was a poor college kid at the time so I could only buy 5 with all the money I had. The key is to keep buying over a period of time. I wont ever be worth 100 million from bitcoin, but I believe if I hold enough I could have a comfortable life living off dividends and holding bitcoin partially.

so you want x5 your money. hard to say the how to do that because many coin had raised too much.
I have lost 20/25 btc for trading in 2014. but still believe everything will comeback. so I just buy some altcoin I think good in that time.

I stupidly left my BTC in Cryptsy, before properly understanding the security risks associated with doing such a thing.

Well i don't have any experience with lost coin,but i do have regret for leaving crypto in 2014 because the price is drop hard
So now i don't have a choice but to start over,i mean there is no harm in doing it and i can make profit too if i do this right

Thank you for the positive comments! I'm starting again with some minor trading of alt coins etc, and slowly but surely i'm building it back up! :)   

I am also one of them.Till now I earned about 3 BTC but from that Bitcoin, I have 0 Bitcoin now.I used all of them for various uses. I sold them for needed money.I used them for buy mobile recharge.I used them for buying VPS, VPN now sometimes also buy VPS.But now if I have those coin I can lead a good life and I can start a real life business with them...
Now I am trying to hold Bitcoin daily, next time I don't want to be the fool.e]

I get what you're saying, and everyone will eventually regret selling early. I think the best thing to do is to set a goal, sell when you hit the goal and be happy with it. I know whoever spent 10000BTC on pizza will be kicking themselves, but back then it would have been amazing to get free pizza! It's one of them things, but i'll set my goals, hold and sell when I know i'll be happy with the outcome!

One thing that's a certainty is that I won't be storing on exchanges anymore!! Thanks for the motivation :)

Much like me I guess! Just a few years behind, but still understand the ins and outs! Onwards and upwards!

Thankful I have never experienced that. I just saved a bit of Bitcoin and chose not to use it. And how can you lose 5BTC. 5 Bitcoin is a huge amount for this year. I hope you can start from the beginning by forgetting the bad memories.

last year i formated some hdd with the keystore of 1000 shift, that was my lesson to always back up the private keys
as long as you stay in the game a are active you will earn. keep it up and dreams may come true. i also started with nothing but came a long way.
dont look back.. look into the future!

Sorry to hear about your losses. For me, the motivation is to think of the future of Bitcoin and you will have the energy to go on.
All the best to you and hope you work hard to get 5 BTC back soon.

Oh no its really very sad news for you.I think its better to forgot the past.5BTC means big amount at this moment.Now you have to come back newly.Now You can hold good potential coins for future.

I lost it simply by not understanding the security side of things 4 years ago. I was quite involved with all the technical side of things, mining etc but never really thought about the security side of things. All a learning curve I guess!

It is alright if you lose around 5 bitcoins but if you will compute it then it is already a high amount of money but it is not too late to get into bitcoin again because you can still make and earn bitcoins in the future because it takes hard work and determination before you get that 5 bitcoins again and i believe that anyone can have that characteristics.

welcome back to cryptoworld mate after 5 years just asking is your coins left in crpytsy? did you sell all your coin or just left it there until the cryptsy shut down the service? imagine that you still your 5 btc today have 20k dollars! good thing you have recovered 0.2btc in your wallets to start with i hope this time you will not leave the cryptospace good luck!

Thank you! I left the coins in Cryptsy just to "come back to them later" after seeing the price crash etc. As I mention, I was quite involved with the technical side of things but stupidly didn't take too much notice about the security side of things. It's a shame, it really is, but I gotta start building back up. At the moment, i'm trading alts and will continue to do so until I hold a nice amount of BTC. I'm also going to look into the signature campaigns etc, as every little helps!

It is not a small amount of money they you left but good to hear that you start again. It is the easy way to start again where you stopped.

In as much as Bitcoin is really the deal, this is one of the issue that use to make me think otherwise sometimes.
I remember last year, I forget my password and pass phrase to my bitcoin. Its quite painful I can't recover it back till now. All I had to do was to move on.
OP, you have to move on, I know it hurts knowing how much you might have missed but this is something out of our control.

I'm seeing it as a learning curve. It's not so much I regret losing the 5btc, obviously it sucks, but if I saw BTC hit 1k I may have sold. Too many ifs and buts, however it's all a learning curve, and it's taught me a massive amount!

That's a sad story with the Op. None could have thought that bitcoin will grow to such a bigger price. With such a thinking he could have left. Now the reality might have made him to try to recover and get a life changing experience as the price keeps on increasing and reach higher prices.

I guess it's just a matter of time. nothing is too late for that.
I experienced as you told me. but I try to re-engage with bitcoin. I explore knowledge again, day by day. and to date. I can enjoy a bit of the bounty of bitcoin.

I'll hit the milestones soon mate!

Well, back in 2015 when I got into Bitcoin, I actually lost about $15 (worth $150 or more with current rate, possibly $1000+) while trying to sell it to an exchanger. I felt really bad and had to quit, but returned when price went up high to $2000plus. I still managed to cope with and I’m okay with what I have now.

Good to know you didn't let it knock you too far and you got back up and running!

5 btc is a lot and im sure there are some people there who did experienced the same situation of yours.5 btc on those years are not really much at all this is why we wont really bother or even take value of those coins and done something not really worth it at all and now prices has changed and now we would start to regret but its not yet over and we can still able to stand up again.

No, 5 Bitcoin in that time also has high value, because as per I know, the price of Bitcoin in that time was $1,000 - $1,300 - highest price. Of course, if you compare the price of Bitcoin in 2013 to the current price, it just = ~1/3 - 1/4 of current price.

Now 0.2 btc maybe fall down to 0.1 btc. Are you ok? Hope you still doing everything good

Whatever happens happens for some reason. There are no accidents. If a person continues his journey even after this great a loss, that definitely means he has trust in bitcoins and this way he will become the symbol of courage also attracting many others. The motive must be, if I will fall down for seven times, I will stand up for eight times.

That's the spirit, I have loss some already from the fall of value in btc now but don't.feel worried about it for we know that btc can cope up on this crash soon.

Now it’s time to get into BTC again man now time has changed and you would get a lot of profit , BTC are ruling in many areas and that day will come when you will enjoying your profits. I will like to recommend investing maximum into bitcoins to have secure future.

Well you are in the right place and will get plenty of advice from forum members here!!

If first you don't succeed (learn some more) and try, try  again!!!

I wish you very best of luck for your future. I think there is no other better way of learning new lessons in life but the lessons which you learn by suffering a loss in the world of business especially. The only thing you need is you should not repeat those mistakes in the future to avoid further loss.

You are very much right. I think that this is a very bold step which he has taken to come back and start his carrier once again after having this much of loss. I think he will surely manage to earn his profit and will be able to cover what all he lost. The only advice which I want to give him is that does learn from your past mistakes and work hard.

if you still have interest in cryptocurrencies (as you shown by opening this topic) you should just forget the past and learn from your mistakes, here in my office we have the motto: fail fast, fail often, learn from mistakes and move forward.
We are embracing the Agile philosophy and trust me, it works in crypto world too, so keep your head up and keep going!
Best of luck!

I've lost a lot of bitcoin because got hacked, then loses a lot in trade, in gambling. Indeed when I lose in big amounts usually my spirit started down.
but in the end, I will rise up and be sure to get a lot more when looking at the price of bitcoin is always increase, there my spirit to recovery.
 

Well the best thing to do right now is to have some BTC again, I mean invest some of your money again right now. And with that you can start again. Actually that is great of you saying that starting in bitcoin right now is easy. You've lost 5 btc which makes you having 25000 usd right now if that thing didn't happened.

Its pretty normal. They estimate that around 1 million bitcoins has been lost forever. This makes the total supply much lower than the 21 million. Thus the value of the coin should be higher.

I'm sure this has happened a lot in the early days of Bitcoin.
There have been a few threads here on BCT about people
loosing coins through various reasons.

I personally know of a user who totally forgot they had coins
in a wallet on the hard drive of the computer from 2013,
luckily they hadnt changed the PC or disposed of it.

The interest was ignited again last year when they read
a news article about Bitcoin and luckily they were able
to retrieve the coins !

This time you will not lost just get started and then spend time on market evaluation and take decision calmly. And I feel sorry for the loss in 2013 but believe me time has changed a lot now there is no possibility of losing your investment just buy low and sell high .

BTC prices will continue to soar from year to year now the price of 1 BTC is very high exceeding 50 million will not drop probably until the end of October.

Its very disappointing to hear your story.Fortunately,i have not faced such situations.As an immediate act,either you could join a signature campaign and it would take time for you to get promoted and earn money.Or else,if you have some money to invest,you could just buy bitcoins with it and hold it in your wallet or buy altcoin and start trading.

You heard about this news?, can it help you in any way?


$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO

https://www.coindesk.com/8-2-million-court-orders-default-judgment-cryptsy-ceo/

These happen in too many bitcoin users lost of btc but the best thing is to start again and dont lose hopes. Yes invest some money into bitcoin as the price may continue to increase. And bitcoin is the best investment which a profitable but dont forget all your details and you are safe.

I have some sort of similar story. 2013 was unlucky year for me too. but 2017 gave me things I've lost. wishing the same for you as well..

OP just keep in mind, we are still getting started.   2020 is the next halving and you can expect a doubling of whatever the price is then, by around January 2021.   I believe that's when we'll be seeing the $10,000 BTC prices.   Plenty of time between then and now for it to slowly increase into the $5,000 range, and then they cut new supply in half ... $10k is soon after.

Bitcoin is going to $100,000 per token just like Berkshire Hathaway stock has gone to $135,000 over a period of 20 years.  Hang in there.

-B-

It does not matter how many times you loose more all more important is how many times you got up! Never give up!! You are real man who have risen exactly so much times as you fell it's mean that you already are winner! We are not talking about competitions, titles or victories. This rather, will help to defeat yourself, be stronger than yesterday, more enduring and purposeful. I find it super great and those who never loosing they never will be better then yesterday! So go ahead! Start new life but be attentive! Its risky! Good luck!

When you lose money for sure there is a new blessing comes in your way. Then its nice that you have recovered, the best thing is to start again. Bitcoin is a good investment wether you lose some you will win somehow in beleiving yourself that you can achieve your goals in life. Invest again in btc and surely you can achieve profit.

I agree, if a door shutsdown, for sure a window will open.  Opportunities comes once but with Bitcoin it comes almost every hour.  Through volatility and price movement.  It is good to know that OP was not discouraged from his lost last 2013 and eventually recovered it this year.  Just keep on tying and learn and never give up
, that is what i learned from OP's experience.

Last year i sold 5 btc with 300-800$ rate. i wish i held them but it had emergency.

My advice to you is to try again. :) I know that losing lots of bitcoin makes you upset and disappointed and let go bitcoins out of your life (maybe that's the reason of your four year out of touch with btc), but you should not give up because you still have .2 btc, you can use this as your capital so use it wisely.

Count the things that you still have, not the things that you don't. Besides, I know that you can still earn becuase you have lots of experience than some of us in earning bitcoins, good luck!. :)

Hmm what a touching story. I knwo the feeling. My own mistake was playing around around year 2011 in the internet without giving  attention to Bitcoin.

Damn man that's terrible but yes you should definitely try again as it's never too late especially in this space. You just have to believe and you will connect to a method that suits you. But it won't be mining. Those days are over.

  it's so sad!!  :(  of course you should start again! I think it's never late to begin  :)

This happen always, not only you lost on the bitcoin course, so many people have same problem, some people just bought bitcoins some years ago and was thinking bitcoin will never grow up and they just forget about their wallets, but how you see now bitcoin is growing up, and its not too late for investing again.

The gold rule is never left your coins into exchanges, there is a risk and isnt the first time that some exchange scam or get some issue like hacker attacks. I dont know how easy is to start again, knowing you had 5 bitcoins wich could make your life easy to make money with those, but well lesson learned. I had trusted into a marketplace without 2fa, and i got scammed by the seller, that took my keys, soo you must take care at where you have your money and be sure you are with all securities measures turned on, as the support told me if i had those 2fa i wouldnt had lost my coins at all.

I can't imagine how many BTC were lost since its creation. Sorry for you, man !

Well at least, this will increase scarcity  ;D

In 2013 the price of 1 BTC was between 100$ and 1000$, that's not a small amount you can easily loose and forget about, in the same time you can't say that you lost 30.000$, according to actual price.
Just forget about it and try to start over again? it will not be a hard thing for you to do, since you managed to collect 5 BTC in past. I am certain you will find a way to recover and make more than you lost. You can start trading with the money you have.

If you lost around 5 btc in 2013 that must suck, but other people have probably done the same thing so you just have to keep on gaining knowledge while nobody else is and that will be valuable.