Bitcoin Forum

I was thinking of building my new PC in 2021, I built my pc without graphic card but while researching about other components like cpu, ram, storage, case, then i heard about GPU shortage cause of mining, and shortage because of people bought GPU 's very fast(in short time) after coming into stock.

then i researched about what is mining and why GPU's always been out of stock. then i learned about bitcoin and took my first trade of $20 in 2021, when the bull run was ongoing and now i am in 80% loss because i was very new then and invested most of the part in altcoins.

my road to bitcoin is like this.

what's your story?

Hopefully you did your own research first after hearing about mining. It always a common mistake by newbies to lack knowledge and experiences about Bitcoin. Its also part of your journey to loss before winning. Actually I don't have any idea what is it about before, like how can they mine Bitcoin using GPU? That would be my first impression. In my case, I've found out Bitcoin by exploring the internet. Saw some articles how you can earn in Bitcoin in some ways. So I watched some tutorials online and started with small amount first until it continues.  Started a long time ago have many mistakes which I fixed causes me to loss>win.

Your story is different from mine , Yet here are some kind of similarity. I did not just stumble on bitcoin on the internet rather I was informed about bitcoin by my friend, but instead of him telling me to invest in Bitcoin and continue using bitcoin. He rather told me that I should instead invest in altcoins. That bitcoin is too expensive. That I could not afford it at this time.

It was because of his advice that I missed investing in Bitcoin when I knew about it. However, the rest of the story is a regret, but I am into it now.

As a newbie, everyone will have bad experiences, but we should not regret it. I knew bitcoin quite early through a friend, but he also did not teach me to invest and hold bitcoin, what he taught me was to buy bitcoin to participate in Ponzi projects. I also didn't learn what bitcoin is and just thought of it as a vehicle to invest in those projects.

It wasn't until I lost everything I invested in those projects that I got bored and became idle. I was curious about the name bitcoin and just started to learn and invest in it. I believe most of those still on the market to this day have had many of the same initial experiences as you and me, but I have never regretted it because our lives are all about experiences.

influencers play big role to impact our mind,

after knowing about bitcoin i was not convinced to invest in bitcoin or learn about bitcoin, because a well known influencer was telling that this is a ponzi scheme without learning about it. (one is warren bucket)

so one was that reason that i missed bitcoin.

Sorry to call your attention I need to get something clear about you investing in bitcoin, after you made your research and you invested 20$ in bitcoin and some of your money to altcoin. Now my question is does the lost only comes from bitcoin or those altcoin you invested gave you what you wanted?
Because I can't believe you totally lost rather bitcoin would take time to recover than any other altcion out there. Some of the altcoin may not survive the bear market while some of them may end up folding down.

I have seen those legit gamers blame the miners for having a GPU shortage during that time. Every bull run, miners are like that and taking every possible stock of GPUs but then when the transition of ETH from pow to pos happened, that has changed a lot.

Now, those expensive GPUs dropped down in price and they have got enough stock for every customer since most GPU miners were there because of ETH.

And even manufacturer of these GPUs were blaming the miners but now, look at how they reason out that there is an actual chipset shortage worldwide.

I was about to invest huge with GPU mining but just thought that I do not want to exert much effort on it and it was what I have noticed first so, like what others are suggesting to just buy bitcoin instead and so I obliged.

Imho Bitcoin can’t be mine using GPU during 2021 and most probably you will encounter first Ethereum instead of Bitcoin since GPU mining is profitable only for altcoin like Ethereum since Bitcoin can only be mine using Asic miner.

I first encounter Bitcoin through ponzi that being shared to social media in my country. Bitcoin become popular here due to faucet and ponzi which promises profit by just solving captcha and investing online. I learn Bitcoin the hard way by experiencing a lot of scam since there’s no clear warning about this scam scheme before. I just become open minded after learning the forum and discuss here with other user.

I am in loss of ~80% mostly because of altcoin i doesn't knew that altcoin doesn't survive in bear market even if it have very good project.
that a mistake when i was new.

I was a freelancer writer on fiverr and in mid of 2017 I received an order to write about bitcoin. That's the first time I came to know about Bitcoin and it took me almost 2 years to get some bitcoin in my wallet. The centralized freelance platforms deduct too much money like fiverr deduct 20% from every order and you get your payment after 14 days. The liberty bitcoin gave to everyone including freelancers is that you get your money instantly with no cuts and commission.

You learned two valuable lessons. Don't buy at the height of the bull market and skip altcoins stick to Bitcoin.

an off topic question : Can i get jobs on fiverr now without any reviews totally newbie account?

Some people have always claimed that they have been making profits from trading altcoin but I have never had such an experience, which is why I focus mainly on Bitcoin investments. Bitcoin has gone through so many challenging times and survived all.

If some of these freelancing firms will add Bitcoin as their alternative payment currency it will be very nice. It will help freelancers to save and hold Bitcoin. This forum (bitcointalk) is one of the major platforms that has helped many people to earn Bitcoin and am also benefitting from it. P2P platforms and other decentralized platforms are always the best places to keep your coins. Exchanges are not different from banks and other financial institutions that are greedy because of profit-making.

That is, you learned about bitcoin amid the GPU shortage in 2021 due to mining? Something doesn't add up here. Did anyone mine btc a couple of years ago this way? Everyone must have already switched to ASICs or mined other cryptocurrencies with the help of the GPU, like ETH, XMR, where it makes sense and profitability.

It seems that some blogger who talked about the benefits of bitcoin pushed me into a close study of it. Of course, even before that I knew about the existence of btc, but I didn’t take it seriously and it seemed that this whole pyramid was about to collapse. :) Years have passed, and this bubble still doen't burst. :) Apparently, there is something worthwhile in this. ;)

I have not told anything about it, you know if anyone comes into crypto space first they would hear about is bitcoin, so i heard about mining and i researched about mining then i researched about bitcoin that's what it is.(I was newbie then i heard that mining is important in cryptocurrencies)

I was heard about bitcoin just that it is kind in crypto and other all are small coins, that's why i done this mistake of investing most part in altcoins.

but, now it's clear to me, not that clear but.....fine

The memory of discovering Bitcoin remains vivid, as if it occurred mere moments ago. Amidst a solo mountain excursion, pondering life's profound questions, an elderly sage approached me. He divulged the existence of an enigmatic digital currency poised to revolutionize our world.

He described an unregulated currency, liberated from governmental or institutional control. Intrigued, I pursued this curious insight. Bizarre, isn't it? Trusting an unfamiliar fellow speaking of virtual coins? The rationale eludes me still.

Months later, I invested in Bitcoin. A tumultuous journey, marked by soaring peaks and plunging valleys. Yet, my convictions remained unshaken. The rewards? Astounding! Now, I am a cryptocurrency enthusiast.

However, it's not solely about profits. It's the exhilaration of participating in a transformative movement. Bitcoin offers global financial emancipation – a cause truly worth championing.

It was 10 years ago or so, and basically still the same logic. Back then you could mine with your gpu, and I mean like a single gpu that you could use to make a profit, back then it wasn't really a lot neither but it could be done, like I am talking about 20 bucks per week, nothing major but at least it was possible.

As a kid living with his parents at that age, I wasn't responsible for the bill, so I did some and the small increase in the bill wasn't noticed or they didn't think it was me, or even if they knew, my parents said nothing. Ever since those days I am in the crypto world, been making my living in this world for 7 or 8 years now and life hasn't been any better, it is definitely the best market to be involved in.

I reckon he took a couple of lessons upon knowing of what bitcoin mining is, give the fact that he tried trading 20 bucks which someone who just learned about bitcoin wouldn't really be able to do, at least I guess. But I digress, it's a rite of passage to lose money in this industry alright, I'm guessing a good amount of people in this forum have suffered a net loss especially those who sold during dips. In any case, nothing beats knowledge, and nothing beats learning abiut a craft in person rather than having it be rammed to your brain through tutorials or teachables or something.

You may have done various research about mining. You have also mentioned various computer devices here. Maybe you participated here by researching various topics. Then also invested but you have more than 80% loss in that investment. Anyway your loss will be recovered soon. I come to this bitcoin forum by the hand of the community. I slowly started to learn everything about bitcoin forums while being in the community. Now I have experienced a lot about bitcoin forums. Hope to gain better experience about more forums in future.

I would say a sad short story man.  But do not despair because Bitcoin must not only be the means for investment or to make money, it must be able to lead you to your independent financial freedom.  So keep staying here with us because we're just getting started.

if the OP has not sold his btc yet, he is not yet at loss. he will only lose if he will sell it. so while waiting for the better times in crypto, why not look for other options how to recover those possible losses? if you do believe on this market, you will keep on collecting some from time to time whenever the btc market is going down.

I happen to know Bitcoin in an online advertisement. I was involved in some online activity that time.  It wasn't actually directly Bitcoin but other cryptocurrency and when I searched about the cryptocurrency, the forum and Bitcoin popped up.  I have first involved in cryptocurrency airdropped before participating in Bitcoin activities a year later.  I happen to buy $10 worth of Bitcoin that time and see if I can use it as a mode of payment. I did use it as a mode of payment but not directly because I use third-party payment system to buy game credits.  And then I get involved in a signature campaign which gives me a steady source of BTC weekly but I do not accumulate them but rather use them to help finance my family.

The idea is so wrong. Bitcoin and this industry in general indeed has huge profit potential but to depend entirely into it to financial freedom is another thing. Not all people could endure market price changes in particular with losses. Once you put everything into it, it would seem more of gambling than investing. You should atleast leave an amount for you to use if incase things won't go as expected. To wait is an easy thing to say but ofcourse it would be hard on the application given that there's no certainty of what could happen on the next few days or months for this industry.
Possible, more of investment diversion and embracing the losses to recover. Question is, would he be able to do that? 'coz it sounds like he's in huge loss already and moving to other asset would put him more to the edge. If he could wait longer, U think that would be the best option than to move to another one which also has no assurance of capital pullback.

was being lured by a relative to bitcoin , and far different from your story that had own research because I was being fed completely on all details , I only need to do is decide if willing to invest or not.
Yeah I of course make research but the outcome is almost the same to what i have been told.
so indeed my journey started to being thought and yes , starts to invest and there are never even a regret in my mind since then.

The good thing is that you learned about Bitcoin even if you started with a loss, but this is not important because the loss can be compensated at any time. The important thing is to keep going.

I think your loss was not due to investing in bitcoin but mostly because of your investment in altcoin because altcoin has dropped dramatically since 2021 until now.

Or you may have bought Bitcoin when it reached the highest peak. In any case, in my opinion, this is not a loss. You can hold and wait for the next peak, but if you sold your Bitcoin, you can compensate for the loss by buying now because the price is still appropriate.

But nobody is saying to pour all your savings into Bitcoin or maybe they are not?  It would be madness.  But the most ideal use case would be to convert a portion of your Fiat that you can afford into Bitcoin and of that portion it would be okay to use half for everyday payments and incentivize local use.  Only then can you avoid Bitcoin pumps and dumps, because if there is more adoption then the price will start to stabilize.

The first thing that came to mind was whether you still have it today. You get profit, right? I mean, you lose that time because you sell it off early, and you just think that you can earn profit easily, like in a few days, but you are wrong about that time. Now, what do you think about the price right now? For sure you regret it and all of us, I mean it happened also to me way back in 2016 when I bought and sold it at a loss, which compared with the price right now is a very huge loss.

Most of users in the community don't know how to mine bitcoin  or come close where such is taking, but whoever that is conscious to know the strategies and have funds to move further for mining of bitcoin  can make inquiries by making a different research through online, so I believe that's the major thing someone curious achieve something will do. Been a newbie is not categories to build you your strategies of mining.