Bitcoin Forum

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

https://i.imgur.com/fmE8tSi.jpg

Please learn from my mistake. Hold onto IPO's this big for as long as possible. If you can, just buy it, get it in your wallet, and forget about it for a month or 2...

*Sigh*

This is how I feel about bitcoin. I just don't want to spend any at all because I see the potential in it and the price today could be peanuts in comparison.

Well my friend. I have learned my lesson and will be making damned sure this never ahppens again, and if I can prevent it, happens to anyone I talk to. Not a day passes that I don't think about this.. I could have had over 100K, could have paid all my debt, and invested that to potentially become a millionaire. But now, I barely have 0.02BTC... Fucksakes.

How about those who invested a lot of money in some altcoins and ended up losing 90pct of everything. I can easily name you 3 altcoins but i would rather not.

The thing is that this is part of what we should accept in investment. If you are certain for sure 100pct, then i don't think that is what u call investment. I had my share of missed opportunity based on wrong decision because i was not willing to take the risk and if i had, i would have lived a more comfortable life and retire early. But then, the question is 'would i have known'?

If that makes u feel better

Meh not really. The fact  that I got greedy and sold for, even though small in comparison, a big profit, really makes me loathe myself for being naturally impulsive. I was though, at the time, unaware that IPO's could almost always yield nice profits, as that was my first ever IPO, so I thought "Hell, I spent 50$, and make 2,500, so that is all good"> Never dawned on me that the day after NXT came out the price would be 2000% lower than if I had waited a month...

AFAIK NXT has made multiple millionaires. I dint know about NXT. Right now, I'm holding my Stellar that I got for free from FB accounts.

Wow, that must have been tough to think about.  Thank you for sharing and giving good advice.  

I think the days of huge turn arounds in 1-2 months are over, but that there will still be very big payouts for people that are holding IPO's and hold for 1-2 years.  That is my philosophy.  It is hard right now just watching the prices slide or do nothing, buuuuuuuuut I think during the next Bitcoin boom there will be a lot of interest in these IPO's. Some will make it, and some will die, and that is why I am watching them closely and trying to invest a little here and there in what I think is the most promising.  

For me of course NXT still looks good.  After that it is clearly NEM.  

I really see NEM doing some exciting things in ways that haven't ever been tried before.  I think the official launch is coming out in a few weeks, but the alpha is already better than most other coins that have been out quite a long time.  They have already open sourced the community client too.  Who does that?  No coin that I know of has shown some of its code before the launch even.  Most of these start-up coins hide and hide their code.  Third party paper wallets, third party client and other third party apps pre-Genesis!  I could go on and on with other exciting developments.

I will be excited to look at Ethereum and Emunie "IF IF IF" they ever launch.  Both are doing some pretty interesting things and taking cyrpto and/or blockchains in a cool direction.

Ripple, Stellar, Node, Crypti, and eXo are on my radar but so far it have been underwhelming.  

Lastly, I think some good IPO's aren't just about coins anymore.  Things like Maidsafe and Storj sound very interesting (uncensored news in China anyone?)  Other things at NXT like Supernet and Jinn have also caught my attention, and while they aren't necessarily coin IPOs they are related to crypto.  

So yeah, I think some of these things mentioned will die, but if even one of them makes that $50 into $100,000 that happened to you, and even if it takes a couple years instead of a couple of months, it will surely be worth it.  

+1 for the long term hold

As of this moment it would've only been 60 grand. It's really not enough capital to start a viable business. It's nothing, when you consider I (and many others) knew of Bitcoin in late 2009 and didn't mine. I was extremely skeptical at the time of the nearly-worthless nerd money.

I could be rich and retired by now! Ah well, hindsight is always 20/20. You can't kick yourself for not knowing, just realize you're lucky to be in the 0.1% of the population that has any Bitcoin at all this early in the game.

Shit happens. Get over it, move on. Do it now. I am not unsympathetic but if you keep dwelling on this,you are virtually certain to miss the next opportunity. I have prior here ;)

That will not be your biggest mistake. You will make much bigger mistakes in the future.

Get over it. You could have easily written that your biggest mistake was buying into some other alt coin IPO.

There is nothing to learn here except that you cannot predict the future.

Hind sight is always so clear...

You chose to not take a gamble. This is like saying you were going to, but didn't, buy a lottery ticket with a specific number that then happened to win, calling your decision NOT to buy an irrational mistake, and then concluding that in the future you should go out and buy every lottery ticket. Great way to lose lots of money.

The mistake is this sort of thinking. If you were to buy every alt-coin/platform at launch, you'd lose *a lot* of money in the end. The only way to reliably make outsized returns investing is to really know more or have better analysis than the rest of the market. Of course, everyone thinks that they do. Most do not. It's hard.

NXT sounded too good to be true. So when you saw that it was real and actually existed you shouldn't have sold(of course you know this now and this is the point of the thread).

But most IPOs turn out to be shit. I think people should be more likely to sell them as soon as they can rather to hold them. NXT was a special case as it was touting itself to be a game changer. Most IPOs are not ambitious as NXT was.

Look at the IPOs that we've seen recently - Craigscoin? Craigslist on the blockchain? Who gives a shit. Archcoin? "The Profit Network"? No comment.

If a project is really attempting to build a next generation crypto like NXT was, then yeah, you should probably hold it. Especially hold it if you see that the project is not just vaporware.

The last IPO I can remember that actually seems to be doing good things is VIA with their counterparty alternative. And the fact that they have Peter Todd coming out with his research like he did recently benefits everyone. Was very happy to read that when I saw it. I've never bought any IPO though including VIA, and I don't own any VIA but I'm happy that good things are coming out of their project.

Storj is another one actually. And Ethereum. So yeah, I guess there are a few. As long as people can tell the difference between a Storj and another one of Bittrex's flavours of the week, then putting some money down on good projects could be a good thing. Personally I don't think it's hard to tell when a project is shit, but obviously that's not the case when hundreds, or even thousands of BTC get funneled in to all these Bittrex IPOs.

If another IPO comes out promising things like NXT did on that sort of wildly ambitious scale, I might consider buying a little bit  if the people behind the project seem sincere. But if you're the type of person who can't tell the different between a NXT type of IPO and the next money grab, then just don't bother and save your money is my advise.

Just to post a reply about the dangers of holding...

Some companies only do well on their IPO. Effectively your advice relies on the IPO being priced under value.

Anyone who remembers when ASICM was 4.5 Bitcoin would be able to tell you about the danger of holding simply to hold.

bro, I sold a bunch of btc @ 80 bucks. I also lost a bunch of coins on gox.

Although I did have bills and debt at the time to pay off.. so it is somewhat justified.

My point is, this kind of thing happens to everyone. I coulda made like half a million dollars, or more off bitcoin if I would have known what I was doing.

There is no option but to move on. You have to let go of the pain and the "what ifs".

Look at it this way. There will be more opportunities to score big. I personally believe that Bitcoin is going to go through another 100-200x price rise in the future.

All you can do is move on and try to stock up on as much BTC as humanly possible before the next big wave.  

most people will do this again (sell) when we hit 1k or 2k or 3k. thats the way it is.

this is nothing to beat yourself up over. you made a nice profit and sold. thats almost always the smart thing to do.

Foresight is a wonderful thing, it could have just as easily plummeted in value.

You played the game, and you lost. Better luck next time.

just a note, I'm currently working to out the NXT SCAM.

these people have been harassing me and threatening me non stop for weeks.

you would have 170 btc now, when you would sell your NXT in the "high time" (in mid january or june) you would have about 600 BTC now! = 216.000 Dollar  :-\

Solution is easy. Return the monies you stole.

do you know what Extortion (http://www.merriam-webster.com/dictionary/extortion) is?

Easy to turn around your luck, buy Qora for peanuts now the future system of money.

You don't know what would've happened if you didn't sell.

Maybe you sold to some people who got excited about NXT and contributed to its market price rise. If you hadn't sold, maybe the price would've crashed. Decisions you make affect the future.

Bluemeanie stole one million NXT from the community, he is a known thief.

Ha ha haaaa... you "lost" just 17 000 USD... ONCE...

I can say I "lost" more than 10 times that every year since I touched a bitcoin. Also a buddy of mine "lost" millions in two years on several instances. We're just amateurs, can't compete with the likes of Karpeles for example...

Things like people panicking when bitcoin drops 300$ makes us laugh with nostalgia... welcome to the club!

a lesson for those people who are selling there NODE stake cheap...

I know that feel. If only...if only...it's such a strong feeling I can't see it ever going away, unfortunately, unless you strike gold once again by investing in something else.

Yeah, I did that with a few coins too. I also told myself never again. So now I'm hodling my BTSX and any new dacs that come out. Never again. At least I got a second chance.

2.5 btc for the rest of your life? I have faith you will recover good sir.

Holy shit, you lost 17k bitcoins?

This guy lost 17K some other guy lost a Hard Drive in England with a similar stash, so the total of BTC is not 21M. How many BTC would be really available right now?

Less than 12.369M from less than 20M...

only time will tell the whole story

The life is too short so you will not regret forever... Even if you make 1 million USD you still will fart into same ground like people who made only these similar fails.

Better try to make something what will be more eternal than your bucks or body. Try to start with writing a nice novel about your unsuccesses, people love these stories.  ;D

I'm sure you are but I do not think they will pay you up front this time.

I wonder this myself. Plus when you think about the thousands of addresses that have dust that will never be removed from them... There's got to be a significant amount of BTC that is just gone forever, maybe 5% of total mined?

Most of all were at the right time or damn close to get quick rich in this forum. But don't take it so hard! We are making a very interesting work here, just keep following the nice stuff is appearing each day and work hard on it ;)

There really is no lesson to be learned here. 

For every seller that wishes they'd held - there are dozens of holders that wish they'd sold. 

If you consider an altcoin an investment - you should know why you got in it and what will trigger you getting out.

Your only mistake is being upset you didn't "make more." Profit is profit and you should be extremely happy with how you did

Having a short memory and knowing when to sell for a loss are the two toughest things to learn for a trader. Looks like Lesson 1 is in the books  ;)

Didn't loose them, he abandoned them and rewrote over them. With today's tech, they could have been recovered fairly easily.

If your biggest mistake in life involves how much money you didn't make then your life's going pretty ok if you ask me ;)

i did the same and had sold out for 80 bucks or something and i could have had like 28 grand for one coin not long ago..
it happens doing this shit ..what can you do ?

Woulda Coulda Shoulda sounds foolish living in the past.

People often forget, that if they did something different in the past, they would be observing an alternative version of the future, where many things could be different. So if you held some NXT longer, you might have shifted yourself into a parallel reality, where NXT went nowhere. The way events have unfolded is the way the Universe teases you, plays with you. If you made profit from an investment, then by all means it is a positive outcome, not a biggest mistake. Life is a game, play it, see what you get :)

I sold LTC at 0.05 on BTC-e way back. Also tried to mine some on my 4850 but stopped after a day because I didn't like the fact that it was making it run so hot. :D

LTC for pennies was the best investment opportunity for anyone other than people who could have bought BTC back in 2009/10. 

oh yeah man jeez LOLOL

ya that woudl be a waaaaaaaaaay bigger amount to cry about for sure !
i started this when Cryptsy was about 2 months old so i was too late for a lot of cheap coins :(

well , it reminds me of that pizza for bitcoins thread - https://bitcointalk.org/index.php?topic=137.0;all

At that time OP was happy that he could buy pizzas with Bitcoins and nobody could have predicted that BTC will be worth this much . Anyways crying over past seems useless.

imagine would you will think when bitcoin hit in october 2015 12.000 Dollar
or NXT reach a marketcap of 2 billion dollar = 100x times higher then now.

you will think, why i dont buy it when it was so cheap

nobody know what the future will bring

i would dont think about "old mistakes" because you can not make it undo,
think only what can happen in the future, and maybe it happen or not.

But when you do nothing, you will regret it, even when your dream dont come true.

There's nothing you can do but just move on.
I'm sure there's bitcoin stories with bigger loss of opptunity than this.
Could you imagine throwing out your hardrive with millions on it, or paying 10k btc for a couple of pizzas.

THIS!

In 2020 everyone will think, could you imagine hunderts of people buying in 2014 altcoins for hunderds of BTC who are nothing worth today.
Everyone will shake their heads, when 1 Bitcoin is worth then 120.000 Dollar.

Nobody knows what the future bring.

I don't know too much about it, but I think their intentions sounds good. Wanting to create a currency that actually gets used and adopted by consumers and merchants is on the right track for sure. Only thing I don't really get is the proof of address part. I don't know who validates that proof, whether it's a central authority or not. Even if it is a central authority for the short term that's not necessarily too bad or anything. But in the long term there should be plans to decentralise that part of it I think.

This is the common mistake. People are selling their coins and are crying some time later. Everybody must understand that fast business is not a business. Waiting makes the value. The buyers have to buck up. The free market realigns downwards - it's obvious. But it is in your, and your and your interest that we sell at good prices. So we all should learn from mistercoin's mistake and use our brains.

BTW: which coin is better-promising: a clone that's dev has ran away after a week and there's no possibilities to use the coin OR a clone with present dev and some possibilities to spend it or make investments with the coin? Reply on the market, please.

I doubt these opportunities ever rise again. Holding your bitcoin right now hoping to be a millionaire is far from achievable. Bitcoin had it's media boom. The next big move may be from a very big company promoting some form of currency on a blockchain used by the masses.

It may not be bitcoin.

hindsight is 20/20.

OP still made really good percentage gains on his 0.05 btc investment.

Makes me feel better about MintPal screwing me for 1.5 BTC this week :)

Can you explain how you would of lost a lot of money?

1btc investment in NXT would yield right now 3400 btc . It has been much higher priced than now also.

There are at least 10 other IPO coins that have yielded over 1000-2000% profits

If you invested 1 btc into every single coin ever created , just from the profits of NXT coin you would still be over 2900 BTC in the black

This doesn't include possible price increases in litecoin, Dark , Doge , Qora even yielded almost 10,000% profit from the beginning of their lives

You would of made literally 1000-2000% min from all the top 30-40 coins if you had bought them near to release.

There is no evidence to suggest you would lose "a lot" of money if you had invested in every single coin at launch , in fact there is conclusive proof you would almost be a millionaire if not an actual millionaire if you had done so

I feel the same way too OP. Instead of investing 0.5 BTC or 1 BTC into the NXT IPO, I spent the whole time watching porn and masturbating with my finger up my butt. I could be a millionaire now. :(

I can see your amount of Nxt in the genesis block.  I missed the IPO by a couple of days.  I had my double encrypted hash ready to send.  On the positive side your story is proof that at least one of the original stakeholders have distributed their entire stake.  I'm sure many of the other original stakeholders have done the same.

To the few that actually didn't douche-out, thanks for you all sharing your similar stories and insight. To then rest "Get over it, stop whining, nothing to be learned here, etc) I am not dwelling on it to the point of ruining my life, you will never get over a loss that big until you get another oppertunity like it or close to it, and I did not ask for anyones pity. It was mostly just to get it off my chest as it has been bothering me (newborn, unemployed from disability, etc, etc). It had bothered me more than most because of my extreme depression I guess, and that 170 BTC (at todays price) really could have helped put my daughter through college, and re-invested some into stocks, securities and trading.. I just wanted the new guys mainly to understand how big of an impact a cryptocurrency can have to a person, for the price of a pair of jeans, under the right circumstances.

;D I am sure there will be others down the road, and am in the works of creating a site that will mine BTCtalk and CCT forums for ICO/IPO's daily, and then list them out for all to benefit.

Anywho, thanks for the advice all, and yes, hindsight is 40/40 now, pour moi :3

Cheers,

Mistercoin

P.S. The guy that said 60K is nothing to start a business with, you must not know how much small businesses (online or otherwise) start out with. Someone very close to me had much, much less then 60,000 and now runs a thriving business. ;D

It's crazy to think that investing into a single bitcoin at the start of last year and putting it into the NXT IPO would have turned $13 into $5 million in the space of a few months (and with practically zero effort too).

I dumped 3 million QRK for like 30 satoshis each before the Max Keiser pump.  Deal with it, move on, all of this is a big gamble.

If you are young it will hardly be your biggest mistake, there will be other big opportunities until there are not anymore.
Big mistakes not to make are losing your family or doing something that could put you in jail for a long time.

the absolute biggest mistake of your life was when you hit "apply" :


to

"do you want to troll the internet for a scam" 

" opportunity awaits ! "

" High returns !"

Something wrong with your life if the biggest mistake is related to money...

It could be money is the only aspect of life that he ever made mistakes in :)

Don't take that phrase so literal. The great depression, wasn't called that for no reason ;)

Heat of the moment statement. I'll hop on here in another 25 Years (if im still alive) and then tell you what my biggest mistake was :P Let's hope hindsight is 20/20

This statement is very true. I've been troubled and plagued with extreme addiction throughout my teens, and as a result, money has been a terrible part of my life. Always stupid with money, blowing it on oxy and junk, then getting clean and still having terrible luck with money. :P

Its not necessary that holding on to big IPO's will always do you good. Considering Ethereum, I am not sure what might happen with the coin, considering the number of people who bought in on the IPO. The market cap will have to be huge to profit all the participants who bought in on the IPO.

That's true. But in 80% of cases you will profit. Usually it just comes down to your best judgement. If something looks promising, and you can feel its future, then go for it. Your gut is usually right ;)

Dear mistercoin, I feel your pain as I've personally experienced it couple of times once in BTC and another in LTC. However, it doesn't bother me at all. The thing is you gain a lot every time you lose. You are in such position cause you were one of the very first who believed in a specific crypto project. Whom continue believing in a successful crypto gain higher revenue. Where whom continue believing in a failure crypto would continue losing. The hard question is when to believe and when to give up on a crypto. I've been thinking about these questions for a long long time. These are very hard questions to answer namely with all crazy crypto market changes happening on daily basses.

Lately, I've reached a reasonable simple strategy that I would have never reached it if I never tasted losing crypto opportunities. The strategy is quite simple "BUY and FORGET". Oh yea, if you like and believe in a crypto project buy in and forget about your investment for years. All you need to make sure of is to invest in cryptos that advance the technology. In another words just focus on cryptos that apply new technologies that never been seen before. If you think about it Bitcoin was the first crypto to apply a new technology that never seen before. NXT took steps toward decentralized crypto economy that never been applied by any other crypto before. Ethereum and Maidsafe is another extreme advance in crypto technologies that would take the whole internet into another dimension. NEM is applying tons of new technologies innovating the internet economy. And probably much more.

My advice to you look forward and do not waste time looking backward. There are multiple opportunities ahead of you. Are you ready to adapt these new technologies? Are you prepared to invest in Etherum, maidsafe, NEM, ......? Whenever you are remember our simple strategy "BUY and FORGET" don't "HIT AND RUN" ;)

Eatting too much and gotten too fat....

this topic explains why Nick etc are pushing etherium crap..

maybe not 100% but mostly i bet..
guys want to go back to flash mining wankery

a second chance to get in on the ground floor of a new coin you fabricate
and then make stories about how you had 100,000 etherium at launch etc..

First world problems: "I made 50x return, but could have made 5000x return :("

Shake it off and move on. Blocknet will be your next big chance. Blocknet Ito soon. :)

NXT is still dirt cheap for the technology it is.

So should i or shouldnt i sell my NEMstake? ???