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Title: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 02, 2013, 10:35:46 PM As the topic says, What are the biggest mistakes you've done with Bitcoin?
I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: dancingnancy on April 02, 2013, 10:37:42 PM Gamble about 150 BTC away around 5-10 dollar range.
Next biggest was to sell most of my coins on the way back up @ $26. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Piper67 on April 02, 2013, 10:38:38 PM Lost 25 BTC by sending to what I thought was my instawallet... But it wasn't. Instawallet is just a bit richer because of my stupidity.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Beta-coiner1 on April 02, 2013, 10:40:41 PM Day trading Alt-currencies in the past like Solidcoin,Iocoin and Ixcoin.Lost at least 100 btc doing that.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: nameface on April 02, 2013, 10:40:47 PM Lost password to my first encrypted wallet. I have 0.4 BTC in there and no way to get it out. I know one day that'll be worth like $150,000 hahaha... argh
I'm also invested in the BAKEWELL mining asset on Bitfunder, which appears to have been some sort of scam. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: nameface on April 02, 2013, 10:41:52 PM Next biggest was to sell most of my coins on the way back up @ $26. Yeah I really hate the fact that I needed money back at the $20 level and sold most of my coins :( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 02, 2013, 10:47:07 PM Okay guys, updated.
Hopefully someone will learn something from this. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Winnopeg on April 02, 2013, 10:55:55 PM My final BTC trade was at 2.94 BTC/CAD, pretty much the bottom of the first decline. Haven't touched bitcoin since, started reading up on it with the recent price spike. So many regrets right now.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: malevolent on April 02, 2013, 10:59:38 PM Selling and buying Bitcoins too often at the wrong price.
Buying a 6 month mining contract from a guy who ran away with the money (didn't recover everything). Trusting Mt.Gox is a reliable company. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: giantdragon on April 02, 2013, 11:05:10 PM Sold 25 coins at price $45/BTC.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: dancingnancy on April 02, 2013, 11:06:47 PM Trusting Mt.Gox is a reliable company. Hit the nail on the head there. They have been holding our bitcoinica funds for around a year now. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Lethos on April 02, 2013, 11:07:56 PM Since getting involved in bitcoin I made 2 pretty big mistakes;
Selling a large portion of my bitcoin stash, when it was worth £9. It's true I needed the money, unforeseeable situation meant the bitcoins I held, was a big life line to me. Then to watch it jump upto £75+ over the next few months. It just hurts to realise if I could of held out, I'd be have 8x that figure, which I admit I might of been able to do. My other big mistake was "gambling/investing" with my bitcoins via assets on GLBSE. The only upside is ASICMiner (investment) turned out so profitable it made up all my loses in all the assets which didn't. I learnt a valuable lesson, it's rare that any investment can beat price fluctuation of Btc itself, the few that do, you lucky if you ever notice it. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 02, 2013, 11:18:07 PM Buying assets on an informal stock exchange seems very risky to me.
Although if you're lucky you can really get a significant piece of a business that you believe in. But again, totally risky. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: gollum on April 02, 2013, 11:22:49 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! My greatest mistakes: 1) Did not buy any when it still was cheap arount 5$ 2) Did not buy any when it was rallying over 10$ 3) Did not buy any when it was rallying over old ATH 32$ and so on... So I will prepare for the next dip - I will fund my Mt Gox account and buy lots of coins if and when we get 20-30$ Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: nameface on April 02, 2013, 11:24:38 PM I learnt a valuable lesson, it's rare that any investment can beat price fluctuation of Btc itself, the few that do, you lucky if you ever notice it. Amen brotherTitle: Re: What are the biggest mistakes you've done with Bitcoin? Post by: PinkBatman on April 02, 2013, 11:29:40 PM Lost about 200BTC on GLBSE :'(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 02, 2013, 11:34:38 PM aren't we going to get a thread full of Initially I was looking for weird stories like, "my dog ate the USB-drive that held my wallet.dat" or something."sold(or converted) too low / bought too high?", "lost wallet", "oops sent to wrong address", "got scammed" and "gambled coins"??? What else is there? I guess "DIDN'T START SOONER!" Which basically everyone in the world has... I mean the problem with most all of these is: 1) burgeoning technology growing pains... wallet.dat issues, long string wallet issues... 2) actually used bitcoins for something. Unless you're then turning those conversions into something that outperformed bitcoins, everyone who's ever gotten rid of them "AW MAN LOST" ... the flipside is, if noone would have ever gotten rid of them they'd not be valued where they are. So no, if you held out you might not have more money right now. Which again, implies cashing out. What price point and point in time were you comfy with having cash? 3) volatility turning something that seemed like a sound investment into completely retarded shit. This is a bigger problem than just using them, its undermining to its advancement if someone who bought reddit gold a month ago realizes what they ended up paying for it. It just hit another all time high of 116.4 as i typed this. I don't know many people who'd be inspired that in a month from now they could have triple what they're going to use the currency for today... I'm interested in the story around it. EDIT: I changed the first post to reflect this. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: lophie on April 02, 2013, 11:48:24 PM Formatted a hard drive with unbacked-up 10BTC wallet........ confident that I would find a backup of it someday....... someday..... :'(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hazek on April 03, 2013, 12:04:02 AM Nothing.
I regret no decision although if I had the chance to go back knowing what I know now about the future I would have done a few things differently obviously, but given the information I had at the time I think I made good choices all around, choices that were based on empirical evidence and sound conservative reasoning. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 03, 2013, 12:05:22 AM Nothing. Well said.I regret no decision although if I had the chance to go back knowing what I know now about the future I would have done a few things differently obviously, but given the information I had at the time I think I made good choices all around, choices that were based on empirical evidence and sound conservative reasoning. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: doobadoo on April 03, 2013, 12:08:13 AM Paid a hooker from addresses that had lots of Satoshi Dice Dust in it without a fee. Took so long to confirm i fell asleep. Hooker stole my car! Woke up with blue balls.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: malevolent on April 03, 2013, 12:10:11 AM Paid a hooker from addresses that had lots of Satoshi Dice Dust in it without a fee. Took so long to confirm i fell asleep. Hooker stole my car! Woke up with blue balls. http://cdn.thesandtrap.com/c/c2/1000x500px-LL-c28b345c_gleason_not_sure_if_serious.jpeg Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Dr.Steve on April 03, 2013, 12:22:03 AM got ripped off for a product that never arrived.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mjsbuddha on April 03, 2013, 12:57:06 AM used 120 btc to pay my phone bill back when they were 75 cents.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Matthew N. Wright on April 03, 2013, 12:59:36 AM Cashed out all my casascius coins (50 BTC worth) at $27 to pay some debts.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: WikileaksDude on April 03, 2013, 01:10:58 AM Cashed out all my casascius coins (50 BTC worth) at $27 to pay some debts. some debts.. sent 45BTC to an anonymous mixer on TOR.. they never returned Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mpfrank on April 03, 2013, 01:12:13 AM Accidentally received coins from a friend to a bit-bill in my (physical, leather, back-pocket) wallet whose private key I had previously posted on my blog as an example. The coins got swept after only 1 or 2 confirmations. Fortunately it was only lunch money (although someday it might be worth a few solar systems).
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Matthew N. Wright on April 03, 2013, 01:13:56 AM Cashed out all my casascius coins (50 BTC worth) at $27 to pay some debts. some debts.. sent 45BTC to an anonymous mixer on TOR.. they never returned Ouch. Was it a well known one? Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: goxed on April 03, 2013, 02:41:30 AM Lost 7,4 BTC to a thief. I was stupid enough to keep a hot wallet in a windows machine.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Turbo1980 on April 03, 2013, 02:43:16 AM Discover Bitcoin Two years later :(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: keystroke on April 03, 2013, 03:01:17 AM Lost 7,4 BTC to a thief. I was stupid enough to keep a hot wallet in a windows machine. How exactly was the machine hacked? Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: goxed on April 03, 2013, 03:28:55 AM Lost 7,4 BTC to a thief. I was stupid enough to keep a hot wallet in a windows machine. How exactly was the machine hacked? I am still unable to figure it out. I have installed an antivirus (avast) but it found no trojans yet. The BTC was stolen yesterday, I think the wallet might have been purloined sometime last month. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Transisto on April 03, 2013, 04:24:35 AM Purchasing a BFL with bitcoin early. If I make back 30% of what I paid for it I'll be happy.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BTCisthefuture on April 03, 2013, 05:30:13 AM 1) leaving some btc in instawallet. no word yet from them on how serious their security breach was and if our coins are safe. that might end up being a mistake for me, hopefully not though.
2) thinking i knew how to day trade. luckily i only lost a very small amount but the constant small loses made me realize i dont know enough to be playing that game 3) thinking bitcoin was really awesome 3 years ago but never jumping on board until recently. that one really hurts. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: notig on April 03, 2013, 05:37:48 AM I bought a butter fly labs single for 1333 instead of buying 1333 worth of bitcoin (at the time btc price = $15)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: keystroke on April 03, 2013, 05:46:17 AM Lost 7,4 BTC to a thief. I was stupid enough to keep a hot wallet in a windows machine. How exactly was the machine hacked? I am still unable to figure it out. I have installed an antivirus (avast) but it found no trojans yet. The BTC was stolen yesterday, I think the wallet might have been purloined sometime last month. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: tvbcof on April 03, 2013, 05:53:11 AM Lost 25 BTC by sending to what I thought was my instawallet... But it wasn't. Instawallet is just a bit richer because of my stupidity. Lost 20 BTC by sending to what I always considered to be ~davout's wallet...like every instawallet. Hoped he and his had the skill to keep them from getting stolen (what with his mainstream bank operation and all) and the integrity to not steal them himself. But hope is well known to be a lousy strategy. I hope now that he can get them back on-line and under my control. If not, I never relinquish control of more BTC than I can afford to lose and chuckle about a bit in the process. The 50-ish BTC I sent to my instawallet as pocket change were worth about $150 worth when I put them there, and it has been quite convenient over the 1.5 years. The 40-ish remaining suddenly became worth more than I wanted to chuckle about losing so I sent half to Mt. Gox a few days ago. Lucky timing. Instawallet made it a point to advertise as being for spending money and had only modest security. That was front and center on page...or at least it was at one time. I've go no complaints about losing it, but ~davout and crew need to accept their black-eye like men if they end up losing these funds. He is not shy about calling others out for being clowns. OTOH, I've not seen much from him lately so he is probably either really busy...or retired comfortably in the Bahamas. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: wopwop on April 03, 2013, 05:54:41 AM Played satoshidice
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: boscorocks on April 03, 2013, 06:03:40 AM Lost 7,4 BTC to a thief. I was stupid enough to keep a hot wallet in a windows machine. How exactly was the machine hacked? I am still unable to figure it out. I have installed an antivirus (avast) but it found no trojans yet. The BTC was stolen yesterday, I think the wallet might have been purloined sometime last month. Your mistake and mine the same. I didn't find your transaction on the address mine went to (thought it might be related). There are two other people who had 9+ BTC go there. I was being lazy/distracted about putting my BTC on an offline computer BIG MISTAKE - take heed all ye noobs! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Parazyd on April 03, 2013, 06:07:31 AM Selling at $30 and not mining when Bitcoin was just introduced.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mb300sd on April 03, 2013, 06:08:53 AM lost a 5k+ btc wallet to a hard drive way back when
bitcoinica pirate bad trades satoshidice cashing out 5% at 32 ... the list goes on, but I'm still in an ok place, and far better off than I would be if I never got in. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Transisto on April 03, 2013, 06:47:57 AM BITCOINICA
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: b¡tco¡n on April 03, 2013, 07:00:19 AM Spending BTC100,000 on a few pizza's. It's not the $14M I would now have that bothers me. It's just that I can't lose the extra fat and love handles I now have. :-\
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: carborundum on April 03, 2013, 07:10:22 AM 1) Not mining harder two years ago, I bought 1x5770 when I had space fro 3x ( I didn't realise I sould use PCIe 1x with a riser)
2) Not discovering Bitcoin 6 months earlier 3) Not mining in winter of 2012 Could have been rich.... now I've only got pocket money Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mokahless on April 03, 2013, 07:28:27 AM Paying for mining equipment in bitcoin instead of USD. But that is circumstantial. Had BTC gone down in price, I would have been better off. I admit I had less confidence in the system back then.
I am also not a large risk taker to I wanted to keep my risk within the bitcoin ecosystem. Even earlier on, forgot the password to my first wallet containing 3BTC. Then found out that I had also lost the wallet.dat file when I tried to look for it this year. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Ivica on April 03, 2013, 08:23:17 AM Gambled 1btc away. Yet my biggest mistake. I don't consider missed opportunities mistakes though.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: dserrano5 on April 03, 2013, 09:01:46 AM Not getting into the mining business in 2011. My motherboard is an old one, without PCI-E sockets, and I didn't want to renew the whole computer since it worked (and works) fine.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: phelix on April 03, 2013, 10:22:45 AM 1.) Installed the client some time around December 2010. Set it to "mine". It made my laptop go loud and hot. Nothing else happened for the 30 seconds my patience lasted. Deinstalled it right away thinking there was no point to it at all. Had I only started GPU mining right away... it was hilariously profitable back then.
Took me several month to randomly bump into Bitcoin again and finally understand it's implications. 2.) GLBSE Peter Lambert and his LIF stuff. Some other company that I really deserved to loose on. Zipconf (Still think it was a good idea) 3.) Not selling a single coin in the 2011 bubble. To buy back at lower prices. Hmm, this one seems to remind me of something............ Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: carborundum on April 03, 2013, 10:43:20 AM 3.) Not selling a single coin in the 2011 bubble. To buy back at lower prices. Hmm, this one seems to remind me of something............ I can just imagine a this post in six months with people say "If *only* I sold at $134!!" with the price being ~$10 :D Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: addi on April 03, 2013, 10:48:18 AM Trusting cloud wallets :)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: phelix on April 03, 2013, 11:48:36 AM 3.) Not selling a single coin in the 2011 bubble. To buy back at lower prices. Hmm, this one seems to remind me of something............ I can just imagine a this post in six months with people say "If *only* I sold at $134!!" with the price being ~$10 :D Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: GernMiester on April 03, 2013, 01:49:39 PM Stopped mining in 09 the same day I started becasue BTC was worthless and I didn't make any coins in an hour or so..
:'( :'( :'( :'( :'( :'( :'( :'( :'( :'( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: t3c on April 03, 2013, 03:43:00 PM Starting in 2010 but then went RTW so couldn't mine whilst away easily
Starting again in late 2011 and realising that i didn't have enough GPU power to hand to make it worthwhile initially Not buying the 100 coins i would've bought in Oct 2012 had my boiler not blown up that very same week. Onwards and upwards, 1000 USD a coin soon right? ;) Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: whiskers75 on April 03, 2013, 03:46:00 PM I thought 'Ah, yay, Bitcoin! I've got 5BTC and I'll go spending crazy.'
~ few years later ~ What!! Bitcoin's worth $141??? AAARRRGHH!! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Spaceman_Spiff on April 03, 2013, 11:01:51 PM I wouldn't call it a mistake, but I started investing $4k dollars in mining equipment and a similar amount in buying BTC directly when BTC was at $8 back in mid last year... If I invested all 8K in BTC directly, I'd have way more coins! :) I am betting some people on this forum would give their left nut to have made a 'mistake' like that. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hyunmi on April 04, 2013, 01:11:06 AM Trusting anything to be reliable. Mt.Gox's API failed on me at the worst possible time. = losses of 100BTC :-\ well.....
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 04, 2013, 02:04:43 AM Trusting anything to be reliable. Mt.Gox's API failed on me at the worst possible time. = losses of 100BTC :-\ well..... Hope sh*t. Mind to elaborate?You mean your request wasn't processed by the server? Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: ralree on April 04, 2013, 02:22:58 AM Loaned a total of 40BTC out on btcjam. Lost most of it - sad times. I hate scammers.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BitcoinTate on April 04, 2013, 02:24:14 AM Twice now was I positive that we had hit the top, so I sold.... only to buy back in higher. Lesson learned. lol
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: chiliftw on April 04, 2013, 10:44:19 AM Trusting shitmarket.eu - twice! The transactions went fine everytime, the users were cool but using it as an online wallet was...expensive... I lost 50 BTC because the admin gambled at first with user´s money (bitcoinica), then got "hacked" >:(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 04, 2013, 11:01:45 AM Okay, I have updated the list.
Still looking for an answer on what exactly when wrong with the MtGox API, from the poster of this: "Trusting anything to be reliable. Mt.Gox's API failed on me at the worst possible time. = losses of 100BTC" Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Endgame on April 04, 2013, 12:00:45 PM Twice now was I positive that we had hit the top, so I sold.... only to buy back in higher. Lesson learned. lol Long term hold seems to be the only safe strategy when it comes to bitcoin. At least so far anyway. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: endlessdark on April 04, 2013, 12:02:25 PM I panic sold most of my btc yesterday at 115USD :-[
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: DarkHyudrA on April 04, 2013, 12:05:00 PM I never did this, but I already saw someone sending Bitcoins to the worng address, I think that this is the most Epic Fail someone can do.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: knight22 on April 04, 2013, 12:06:27 PM I never did this, but I already saw someone sending Bitcoins to the worng address, I think that this is the most Epic Fail someone can do. Yep and I did that already. I sent 1 btc to a wrong address, probably a wrong instawallet address. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: John (John K.) on April 04, 2013, 12:08:14 PM I never did this, but I already saw someone sending Bitcoins to the worng address, I think that this is the most Epic Fail someone can do. Yep and I did that already. I sent 1 btc to a wrong address, probably a wrong instawallet address. (https://bitcointalk.org/index.php?topic=158175.0) And 'investing' in Pirate. :-[ Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mobodick on April 04, 2013, 12:13:57 PM Putting most of my coins in Bitcoinica (SCUMBAAAAAAAGS!!!!)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: t3c on April 08, 2013, 05:10:58 PM Unless they hit 100K a pop i am never selling
....although if that happens >... Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BitcoinTate on April 08, 2013, 05:16:17 PM "Hoooold for the longest time."
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Matthew N. Wright on April 08, 2013, 05:18:49 PM Not sure it applies since it's more related to the bitcoin community than bitcoin itself, but https://bitcointalk.org/index.php?topic=161710
vvvv LOL Priceless. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: chriswilmer on April 08, 2013, 05:24:08 PM Not exactly in the theme of this thread, but I once sent 10 btc to the wrong address by accident. I Google'd the address and it turned out to be Gavin's. He sent them back to me :)
Lucky break! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 08, 2013, 08:45:52 PM Not exactly in the theme of this thread, but I once sent 10 btc to the wrong address by accident. I Google'd the address and it turned out to be Gavin's. He sent them back to me :) Awesome! This is going on the list.Lucky break! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jcpham on April 08, 2013, 08:51:23 PM organized lending.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 08, 2013, 08:52:52 PM organized lending. Care to elaborate?Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kwukduck on April 08, 2013, 10:33:50 PM Worst mistake was trusting MtGox with my bitcoins. Lost pretty much all i had back then due to this lame vulnerability on their site.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mr-sk on April 09, 2013, 02:10:03 AM Lost a bunch of BTC on tradehill and never could get it back. Also lost BTC on the 1st mtGox hack.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: NikolaTesla on April 09, 2013, 02:23:54 AM Twice now was I positive that we had hit the top, so I sold.... only to buy back in higher. Lesson learned. lol I have thought about selling a number of times in the last few days, but each time I wake up and check the price on mtgox I end up quite happy that I didn't. I think I am just going to hold indefinitely regardless of what the price does, and when more and more shops begin accepting BTC i will use it for its intended purpose - as a currency. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BIGMERVE on April 09, 2013, 04:07:34 AM Back when coins were around 10-15 I gambled some BTC at Bitzino. Playing blackjack I went from 6 BTC to 14BTC in 2 days. Could have stopped there, but pushed my luck. Lost it all within a couple minutes. Martingale betting is fun and profitable for awhile but it will bite you in the ass if you get greedy.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: madmadmax on April 09, 2013, 04:53:14 AM Back at the day when I was new to bitcoins you could buy them at about 6$ per coin, wish I could travel back in time and slap myself on the head and invest all I can gather into them.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mutikainen on April 09, 2013, 12:35:44 PM not starting early enough
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: xqr on April 09, 2013, 02:27:17 PM So far my biggest mistake has been ordering a Jalapeño with BTC. I probably won't see the hardware for at least 6 months, woulda been better off just hoarding the BTC I used to pay for it.
Second biggest mistake was using bitinstant to transfer. My money has disappeared. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: deathcode on April 09, 2013, 02:29:54 PM not starting early enough I sold 9.5BTC at $2000 yesterday when they were $189... Today even though I sold at an avg of $210, I'm losing money.... :/ I'm not selling until I reach my goal! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: CasinoBit on April 09, 2013, 05:46:34 PM Responsible gaming everyone ;)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: CoolIT on April 09, 2013, 06:55:52 PM #1 mistake. Back when bitcoins dropped to 3$ I stopped my mining rig and upgraded my main pc with the parts. If I didn't stop mining, I would have made way over 35 bitcoins. Probably up to 300 bitcoins. #2 I sold my bitcoins for... 23$ Made 700$, reinvested half in a new mining rig. Now I got 3 bitcoins. No losses at all, just fun... and hell of a facepalm thinking of the money I could have made. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: gollum on April 09, 2013, 07:18:20 PM Biggest mistake: invested a big amount in gold and silver instead of Bitcoin six months ago. That investment would be worth 20-25 times more now.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: oOoOo on April 09, 2013, 07:52:18 PM Trusting shitmarket.eu - twice! The transactions went fine everytime, the users were cool but using it as an online wallet was...expensive... I lost 50 BTC because the admin gambled at first with user´s money (bitcoinica), then got "hacked" >:( Same. Although I only trusted them once, and "only" lost 40 BTC... I'll get dizzy now thinking of how much it is now. They did not only steal my coins, but also a part of my future :'( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: johnblaze on April 09, 2013, 09:05:14 PM biggest mistake:
not buying in when i first heard about it! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Dangolbery on April 10, 2013, 01:00:45 AM Knew about Bitcoin since it was at about $2, never bought any as i was poor uni-student
Mined with my old computer, before mining pools, but turned it off after a couple days because it was going to take about 5 months (average) to hit a block (get 50 coins). Would have a couple hundred at least if i let it run, for no real cost to myself. Got 5 coins from Bitcoin faucet way back when, which i just left in a wallet to rot on an old hard drive that i dumped when i threw out my old computer. At the start of the most recent boom, @$30/btc, i signed up to mt.gox (thinking it was the only real way to buy mass coins - stupid) as i wanted to buy $2000 worth of coins. Waited about 3 weeks for my account verification so i could fund it, verification got rejected and Bitcoins tripled in value. Ended up getting my $2000 worth of btc's at $96 a piece on localbitcoins. The thing is i looked at localbitcoins while my account was pending verification and thought it look a bit shady so continued to wait for mt.gox while the price skyrocketed. My bitcoin experience is full of missed opportunities, however i have my coins now and am happy. If the price continues to climb i have a stake in it. If it plummets then i simply have the chance to buy more. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: julz on April 10, 2013, 01:26:17 AM Stopping my bitcoin miners back in 2010 because of a port conflict with Vmware.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: NikolaTesla on April 10, 2013, 01:57:39 AM I sold 9.5BTC at $2000 yesterday when they were $189... Those numbers don't seem to add up...Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Matthew N. Wright on April 10, 2013, 02:02:36 AM Speaking of mistakes, "Biggest mistakes you've made with bitcoin" :-\
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Dangolbery on April 10, 2013, 02:13:25 AM I sold 9.5BTC at $2000 yesterday when they were $189... Those numbers don't seem to add up...He means $1795.5. People like to round up when talking about their winnings. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kwoody on April 10, 2013, 04:09:58 AM Pre-Ordering bASIC's. Lost nearly $100,000.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: crazy_rabbit on April 10, 2013, 10:20:14 AM selling bitcoin?
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: crazy_rabbit on April 10, 2013, 10:20:26 AM Pre-Ordering bASIC's. Lost nearly $100,000. Ouch. sorry about that. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hailstorm on April 10, 2013, 10:59:08 AM I bought 7BTC for £50. I then lost about 6 of that on btcjam. Had I just held on to them they would be worth about £800-900.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 10, 2013, 03:58:27 PM Pre-Ordering bASIC's. Lost nearly $100,000. Ouch...Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Stunna on April 10, 2013, 04:08:50 PM Selling cheap :|
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: papa_snurf on April 10, 2013, 04:11:45 PM I did not buy enough ::)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: deathcode on April 11, 2013, 04:09:14 PM Not selling at $266... :)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: gollum on April 11, 2013, 05:14:06 PM Not shorting at 266$ @ www.icbit.se
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: ThorinIceland on April 11, 2013, 05:19:26 PM Pre-Ordering bASIC's. Lost nearly $100,000. Ouch, that stings, my sympathies man. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: glendall on April 11, 2013, 08:06:58 PM Getting into mining in late 2010 or so.........for a few days.
What a dumb move in hindsight. Generally leave my PC on all the time, and had also had a GTX 280 at the time. If I just hit the damn 'start' button before I went to bed at night, could have made a pretty bitcoin. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sedeki on April 11, 2013, 08:30:02 PM OK guys, updated the List of Wisdom.
Please take a look at the page labeled "Bitcoin Business Wishlist" while you're at it, I updated that too. Leave a message on there or PM me if anything is unclear. Again, the URL to Bitcoin mistakes: https://sites.google.com/site/whoissatoshi/bitcoin-mistakes Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: tclo on April 11, 2013, 10:13:10 PM Not shorting at 266$ @ www.icbit.se Yes and you know a lot of people did just that and are laughing now (and rolling around in their pile of money). Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: malevolent on April 17, 2013, 07:21:50 AM Pre-Ordering bASIC's. Lost nearly $100,000. You have paid in Bitcoins and it is the value of BTC after the price increase? Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: ivanc on April 17, 2013, 12:29:22 PM I used Bitcoin 24 (who was the largest exchange for EUR at the time) and had 45,000 EUR worth of BTC + fiat on it. Withdrawals were taking too long.
Then I learnt that it was a single person operation and the owner is a german DJ. Then I found what he posted on stackoverflow, especially this gem: http://stackoverflow.com/questions/15026825/php-mysql-how-to-prevent-two-requests-update Still waiting for my BTC + fiat, not much hope though as you can expect :) Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Herodes on April 17, 2013, 12:40:08 PM i sent 4.4 btc to the wrong person. after some detective work, i found the phone number of his mother and called her, luckily he was present and returned the coins without any issues.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Birdy on April 17, 2013, 12:47:48 PM Not buying some when I first heard about them.
Tried mining on my normal PC back then, it didn't create coins after a whole day. Yes, I thought mining them was the big deal and didn't know anything about the 21 mio limit and so on. -> If I had spent like a day more reading about it, I would have spent a small sum (I guess that would have gained me ~100 BTC). Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Bitconian on April 17, 2013, 06:56:09 PM Lost a lot of money
I bought $10,000 when it was at $233 freaked out when it hit $50, and sold everything. Now it's at $90 :( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: chronocoin on April 17, 2013, 07:10:17 PM Not being Satoshi
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: pangu on April 17, 2013, 08:28:07 PM Not having startet with bitcoin a few month/years ago.. ;)
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: glendall on April 17, 2013, 08:42:57 PM Stopping my bitcoin miners back in 2010 because of a port conflict with Vmware. Oh god man :( This one would drive me to the bottle ! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Peleus on April 17, 2013, 09:41:17 PM Pulling out my buy order @ $55 because I thought it would be dropping lower.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: charliec on April 17, 2013, 09:54:15 PM First biggest mistake:
In June 2011, I was extremely excited to get involved with bitcoin. I read up on it for several days. Posted my "newbie" post. (which was "Charlie here. Fascinated by this concept. Like any other latecomer, wishing I had looked into this last year when I first heard about it. Oh well. I see HUGE potential still as legitimacy and credibility further develops over time.") Bought $100 in bitcoins a couple days later. Left them on mybitcoin overnight. Woke up to no bitcoins. Was so soured by that experience that I stopped paying any attention. Second biggest mistake: Started checking "bitcoinwatch.com" again in January (mainly because I quit reddit.com cold turkey... so needed some other sites to check!) Watched as prices slowly started to go up. Each day a little more, then each day a LOT more. Finally got back in just ahead of the big spike. Glad I did! (Just wish it was sooner!) Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Paul89273 on April 17, 2013, 10:25:45 PM 3.) Not selling a single coin in the 2011 bubble. To buy back at lower prices. Hmm, this one seems to remind me of something............ I can just imagine a this post in six months with people say "If *only* I sold at $134!!" with the price being ~$10 :D Do you guys think the Bitcoin price is in a bubble atm, what price do you think it'll settle at in 6 months? Have a few more questions, great thread BTW some great stories in here. Do you guys trust Mt Gox? How many times have they been hacked in total? Is any exchange with 2 step verification secure? Does anyone have any experiences with Bitcoin.de the german site and what are your experiences with them? I'm very new to all this, only been reading up on it this past month. My biggest regret so far is not trusting my gut instinct, the other day when bitcoin went down to around $50 I was thinking about buying in big but decided not to, wish I had of road that wave up to $90 and sold. I still think the best strategy is to buy and hold assuming you buy in the dips. I think things are going to get more difficult as more bankers, hedge funds and HTFers get involved in trading Bitcoins. Shame really because it defeats the original purpose of Bitcoins BUT with some of the new sites for shorting trades etc it may bring more stability to the system in the long run. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: QuestionAuthority on April 17, 2013, 11:06:47 PM Bought cupcakes at a store in San Fran one afternoon and put them in the fridge only to wake up the next morning and check the exchange rate to find out my cupcakes were now worth $25 each. Crap!
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: MegaBrutal on April 17, 2013, 11:24:28 PM I've sent all my funds from Mt.Gox to Bitcoin-24.com, just a few hours before it got closed.
I still believe that ~11,5 BTC would have been the start of a brighter future of mine. :'( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: MysteryMiner on April 17, 2013, 11:27:56 PM 1. Purchased large bag of weed right after July 2011 price crash.
2. Sold bitcoins when price was 9 EUR to buy hard drive and RAM for computer who died completely 2 weeks later while the items were still in transit. 3. Lost 7 BTC on Satoshi Dicke Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Hei_ on April 17, 2013, 11:33:12 PM bought an god damn 60days wow time card for 188BTC
when i remember right price was approx 0,12$usd per coin that day Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: julius on September 27, 2013, 09:06:29 AM Bump.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: davidgdg on September 27, 2013, 09:35:38 AM Lost about 200 BTC on the GLBSE fiasco. Some to Pirate scam bonds, some to bonds that disappeared when GLBSE disappeared, and some just because ASICS destroyed the returns. Now strictly buy and hold (except for the odd small purchase to encourage vendors).
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Aseras on September 27, 2013, 02:43:57 PM traded 1300 btc for a new computer worth about $800
selling 5000 btc when the price hit $1 lost a LOT in pirate scheme didnt buy 10 avalon bacth1 or batch 2 Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hathmill on September 27, 2013, 03:35:52 PM Used a non-standard client and lost about one coin in fee.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: IncreaseMyT on September 27, 2013, 04:08:30 PM My biggest mistake was notting getting into mining or at least mine on my PC back when I first ran across Bitcoin which was early 2011. I loaded the mining program and starting mining. I read some article saying it could hurt my mac so I turned it off.
It was a one night thing and I was starting a new business at the time so I just forgot about it. I wonder how many coins I could have mined back then on my mac...................... Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: TheButterZone on September 27, 2013, 10:28:25 PM Left <2 BTC on BitFloor on a limit sell before the site got hacked.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: broolstoryco on September 28, 2013, 10:51:22 AM biggest mistake was not getting into it in 2010/2011 when I first heard of it. I remember brushing it of as some geek nonsense. yeesh..
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: fattypig on October 02, 2013, 02:33:13 AM Thinking that bitcoin is a scam when it is really cheap (about 1$) without really trying to understand it. Years later when bitcoin become 100$, then only I start to do research and read on it :(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jeppe on November 09, 2013, 12:29:26 AM bought asics when they arrived they were worth only 1/3 of the price i payed and sold them for a loss of 3 BTC :/
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: OneMoreHuman on November 09, 2013, 01:12:10 AM Using btc.sx, I leverage traded 2 BTC's.
It was that night that Baidu announced their acceptance of Bitcoin. The price dropped a few dollars before it continued climbing. I didn't realize that if you hit the stop price, you lose ALL of your investment. I still haven't recovered that back. :'( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: MelodyRowell on November 09, 2013, 01:39:00 AM Did not buy any Bitcoin before this hike....
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: proudhon on November 09, 2013, 01:42:13 AM Had ~150 BTC sitting in bitcoinica.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mises on November 09, 2013, 02:56:53 AM I'd say not buying more of it when it was in it's infancy.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: beetcoin on November 09, 2013, 03:28:36 AM i knew about bitcoins since late 2011, and only until early this year did i get involved. big, wasted opportunity. i guess that's the price you have to pay by being lazy. it's also probably my fault for not having the foresight to see the potential in BTC.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: wmcleod on November 09, 2013, 04:08:41 AM selling a piece of mining hardware (through craigslist) to an international buyer....
i was young and dumb. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: irpirate on November 09, 2013, 04:32:33 AM My biggest mistake has to be finding out about bitcoin way too late :(.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: b!z on November 09, 2013, 06:01:24 AM Deleting Bitcoin-QT in 2010 because the blockchain took too long to download.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mb300sd on November 09, 2013, 06:39:13 AM Deleting Bitcoin-QT in 2010 because the blockchain took too long to download. There was no -QT in 2010 ;) it was wxBitcoin Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: goxed on November 09, 2013, 06:58:36 AM Order ASIC from BFL!
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Ecurb123 on November 09, 2013, 08:27:34 AM my biggest mistake was also what helping support the btc economy, spending them.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: b!z on November 09, 2013, 08:53:49 AM Deleting Bitcoin-QT in 2010 because the blockchain took too long to download. There was no -QT in 2010 ;) it was wxBitcoin In 2011, I gained interest in Bitcoin again, and I stored my coins in MyBitcoin. It was a big mistake. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: simplydt on November 09, 2013, 09:02:22 AM Laugh it off when I read about it in 2010, thinking leaving my pc on to make $0.02 cents an hour doesn't seem worth it (1 bitcoin an hour). If I had actually read the whitepaper and investigated a bit more rather than compare it to one of those stupid ways to make money online, I may have made some bitcoins to keep. Boo!
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: eoJ on November 09, 2013, 09:14:56 AM Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Piper67 on November 09, 2013, 01:27:16 PM I'd say not buying more of it when it was in it's infancy. Bitcoin still is in its infancy. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: xinzark on November 09, 2013, 03:09:56 PM In jun i had over 800 Btc and i sold them now i am left with just a few btc :( very regret now
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: FreakNet on November 09, 2013, 03:34:22 PM Wasting my bitcoins and buying gift cards with them last month.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Lucky - Luciano on November 09, 2013, 09:52:11 PM -Buying BF Labs 50 Ghash / s + 5 Ghash / s
-Buying ASIC MINER BLADE -Purchase Quark coin at a cost of 0,0000036 BTC/QRK. However, I am still happy with Bitcoin 8). Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kuusj98 on November 09, 2013, 10:19:23 PM Getting involved in the biggest group buy scam of all times, back in the day I ordered 1 USB Block Erupter at .89 BTC in a group buy ran by vdragon. I think he ran away with more than 1000 BTC.
Those .89 BTC where all my bitcoins I had, and also the first ever coins I earned, I really had to let a tear when I found I was scammed... Next week those goddamn pieces of shit could be bought for .25 BTC. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: freethink2013 on November 09, 2013, 10:22:41 PM Apart from not buying enough when they were cheap, nothing. Was going to say I paid woman to do stuff on cam but honestly, I've no regrets about that.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BitcoinBarrel on November 10, 2013, 01:25:21 AM I downloaded the Bitcoin client a couple years ago, but saw no use for it at the time. :-\
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Rupture on November 10, 2013, 06:01:10 AM Gambling :(.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: marcotheminer on November 10, 2013, 07:10:01 AM I regret not finding out about bitcoin when they were worth $0.01! hahahah
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: LostDutchman on November 10, 2013, 02:24:52 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. I became aware of Bitcoin several years ago but regarded it only as some kind of gaming shit. Not being a gamer, I paid no attention. I fiddled while Rome burned in a backcwards sort of way. At that time I had a server farm and could have mined BTC like crazy. Eh............................................................................. .......... Oh, well; still lots of money to be made. It's just harder now. :( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BIGMERVE on November 10, 2013, 06:55:55 PM Welp I had to cash out everything 2 weeks ago in order to buy a car. Turns out I didn't need the car and by the time coinbase processed the transaction the price shot up to 350. I don't know when I should buy back in. No offense to anyone but I'm hoping theres a correction down to 200, or I might have to take a huge loss to buy in now.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: crashoveride54902 on November 11, 2013, 01:15:26 AM Welp I had to cash out everything 2 weeks ago in order to buy a car. Turns out I didn't need the car and by the time coinbase processed the transaction the price shot up to 350. I don't know when I should buy back in. No offense to anyone but I'm hoping theres a correction down to 200, or I might have to take a huge loss to buy in now. almost the same boat as you...sold 14.7btc at $271 to buy a truck before the huge spike in price...wish i didn't have to but didn't want another loan payment...oh well least i can say btc bought me a 92 GMC truck lol also the biggest mistake was getting scammed outta 13btc on IRC...taught me a hard lesson to trust no one :) Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mccoyspace on November 11, 2013, 04:43:10 AM depositing a bunch of btc into coinlenders last week.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: swiftbits on March 02, 2017, 09:18:28 AM I lost about BTC 0.07 just a small amount in a famous mining site Hashocean (ponzi).
I just started and after a month they already stop paying, they started on 2014 and I registered too late around Summer of 2016 I didn't regret anything because I learn so much about fraud/scams in bitcoin world. I can say BTC 0.07 is worth it and the price before is quite small. The Best Mistake I think I didn't find out Bitcoin Earlier, because I started April 2016. I wish I found out bitcoin when 1 is very affordable. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: szpalata on March 02, 2017, 10:36:51 AM Bitcoin hasn't been a mistake in my life and I'm proud to have joined the community, the only thing I will consider as a mistake had to do with my own decisions and that's tgrough gambling. I've lost some monies through gambling but it was my choice and I lost wo art from that there's been no mistake since joining.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: KennyR on March 02, 2017, 10:47:11 AM Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: rivoke on March 02, 2017, 10:54:40 AM When I knew bitcoin earlier , I'm being introduce with investment site but with fun theme named golden cow
I'm decide to invest 0.05 since I saw many positive feedback for the site . Before I'm able to ROI , the site is scamming ! It's hard lesson for me to more carefull about investation ! Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: wildan88 on March 02, 2017, 11:06:57 AM This is quite strange, I also do not know initially why it could happen. When I will send bitcoin, but the bitcoin address suddenly changed, I wasn't aware of it and finally I lost about 0.2BTC and After it I reinstall my computer and more carefully when I will send bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Idrisu on March 02, 2017, 11:21:54 AM As the topic says, What are the biggest mistakes you've done with Bitcoin? One of the biggest mistake I did when I come across bitcoin is slow to take decision for investment because at that bitcoin is less than 100 dollars. I am regretting now because if I investment a 100 dollars then it could be around 1230 dollars today. Another big mistake is thinking I can be rich in bitcoin through faucet.I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: fitty on March 02, 2017, 11:31:15 AM When I knew bitcoin earlier , I'm being introduce with investment site but with fun theme named golden cow I'm decide to invest 0.05 since I saw many positive feedback for the site . Before I'm able to ROI , the site is scamming ! It's hard lesson for me to more carefull about investation ! Yeah I feel you Bro! Way back when I am starting into Bitcoin I was also in a situation like you. I was once fun of investing to cloud mining sites. Hashocean to be exact. I am enchanted because they have so many positive feedbacks and testimonies of earnings and ROI. I invested to that and I was able to get the ROI. Because of that I reinvested it all. And Boom! The site becomes a scam. From that, I learned how to be aware of that kind of scam investment. I believe that was the biggest mistake I've made in Bitcoin. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: DoublerHunter on March 02, 2017, 12:31:37 PM The biggest mistake that i've ever done with bitcoin is when i invest all my bitcoin in a hyip site but that is nothing for me now because that was just 0.5 and the price on that time was only 500$+ so i don't think it is a big loss because i already learned the lesson of managing my bitcoins and i already know where to invest my bitcoins and not into hyip sites.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Soul Reaper on March 02, 2017, 01:47:28 PM My journey with bitcoin has been very versatile.
I have gained as well as lost . Some big mistakes that I committed with bitcoins are- 1) I immediately sold them in exchange of Fiat. Now I see how it's cost has risen. So now I regret. 2) I wasted many bitcoins on steam and xbox store. Then I didn't realise it's value , And I used it heavily basically for gaming. 3) I tried to mine bitcoin in my laptop. It was an ultimate failure. My system got heated up badly, and used up a lot of electricity, More over I could earn only 150 Satoshi . Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: requester on March 02, 2017, 01:57:04 PM wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Blitzboy on March 02, 2017, 02:16:03 PM Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much. Yeah, I've been there too, as I was so mesmerised by those attractive sites with high chances of winning and big outcome. And so I spent most of my time dying in gambling instead of doing something useful, and the more I gamble, the more I get addicted to it and can't get rid of it. It's not until my friend gave me some advice persuading me that I fully got out of it and start doing right all over again.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Qunenin on March 02, 2017, 03:37:17 PM wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds I guess this is one of everyones mistake who can afford to buy good amount of btc last year and just ignore buying. Because even me that was my regret, it was doubled and tripled price compared to previous years we had. And now more than $1000, just a big sigh now for that regret. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: HanSchultz on March 02, 2017, 04:43:45 PM wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds For that to happen you have to invent a time machine to go back.You really cannot do anything about it.People should understand that it was a known fact that the price would increase after halving and it was a common practice and i am sure many made their fortune by picking up coins when we could and the mistake i did was i sold off when the price touched $1000 and couldn't get back.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: JanpriX on March 02, 2017, 04:48:11 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. One of the biggest mistakes that I've ever done involving BTC in my life would be uninstalling a wallet app from my android device without backing it up. My bitcoin just vanished from thin air because of my stupidity and lack of knowledge. That happened when I was still studying that basic knowledge of BTC. That will never happen again. LOL Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Pettuh4 on March 02, 2017, 05:16:42 PM I lost 0.5 BTC to gambling last December while I could have shopped with it. It was greed I thought I could double it through sports betting and I lost it in just an hour and thirty minutes. The scar is still deep within my heart.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Daniel91 on March 02, 2017, 05:31:52 PM Honestly, my biggest mistake with bitcoin is that I joined to late.
I had opportunity to join a year or two earlier but was skeptic and missed great opportunity to collect many bitcoin for only $ 200 or so. When I see today's price of bitcoin, I feel sad. It's school, I guess. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: TopherB on March 02, 2017, 05:52:17 PM Because my fellow libertarians were speaking of this as the next big thing I bought $50 worth of btc when they were in the 70 cent range. I didn't think anything of it I was just supporting cause as I had many of my fellowman's causes. Being the organized person I am and not really comprehending the concept I lost the wallet most likely instantly.
While I'm certain I would have sold in the pre $100 range I still look wistfully at that illusionary $70-80,000. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Bibite on March 02, 2017, 07:58:10 PM the biggest mistakes I've done with Bitcoin is simply spendig all when it was cheap years ago ! Why the fuck i have not keep at least 10 bitcoins.. It could help me a lot now in 2017. Over 11k USD is like 10 months working full time like a slave
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: pearnapple on March 02, 2017, 08:20:02 PM Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much. yeah gambling is a huge problem for a lot of people in a bitcoin world and it is one of the most horrible addictions in the world. My biggest mistake is that I tried doing some trading with it, it was really unsuccessful and not that I did not make any bitcoins, I actually managed to lose money with that thing.the biggest mistakes I've done with Bitcoin is simply spendig all when it was cheap years ago ! Why the fuck i have not keep at least 10 bitcoins.. It could help me a lot now in 2017. Over 11k USD is like 10 months working full time like a slave yeah, if you want to have a lot of profit out of it you should just hold your bitcoins, but for bitcoin itself it is better that you would use it all the time.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: pinkpanther03 on March 03, 2017, 09:38:43 PM Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much. The biggest mistakes I've done with bitcoin is when I didn't buy it when bitcoin was 800$ something, it was really regrettable to me why I didn't listen to my friend. That's why every time i can buy bitcoin, I do it most of of the time.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: el kaka22 on March 03, 2017, 11:08:00 PM Losing big amount in gambling. Often used to make decisions of spending little on gambling events. Not just you, probably more than 50% of bitcoiners would have experience some bitter days with gambling. Some of them will mark those as their biggest mistakes. Because out of greedy no one will control themselves from gambling and thus from gambling mistakes. If we are not experienced gambling after knowing bitcoin that must be a very big achievement imho.If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much. In near past when I just earned a few I have waste a lot of the at different sites having not enough knowledge and in search to make it more and more but this is very helpful for me and taught me a lot of things now I am pretty much experienced and have a lot of knowledge about all the sites on the internet associated with bitcoins.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jovs on March 06, 2017, 02:37:50 PM Gamble about 150 BTC away around 5-10 dollar range. Yes one of the biggest mistake you could doon bitcoin is on gambling all your bitcoin . Because a faster way to earn is too tempting not to try so many people fall to do such things. Me personally do gamling before ,because i knew that in gambling you can earn more or even double earnings in a short period of time. But the day will come that you will realize that gambling is not worth it and you will stoo gambling . Next biggest was to sell most of my coins on the way back up @ $26. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: sj2199 on March 06, 2017, 03:01:27 PM There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hurain on March 06, 2017, 10:49:16 PM There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling. yes i also done different mistakes in different time. in resent time i sell some of my bitcoin in 1000 USD price and now i am regretting that i have made a big mistake. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: socks435 on March 07, 2017, 12:00:07 AM There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling. yes i also done different mistakes in different time. in resent time i sell some of my bitcoin in 1000 USD price and now i am regretting that i have made a big mistake. But this is not the worst mistake that i made investing a large amount in ponzi is the large mistake that i made before that i thought that can brings me passive income.. but few days they turn into scam.. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Gustavv on March 07, 2017, 01:27:46 AM worst mistake i ever did with bitcoin is invest my bitcoin at hyip or ponzi game
i do that when i am newbie at bitcoin and investing program i am interest it because my friend can make big profits from it, after get losses from it i hate ponzi and stay away from it Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jeraldskie11 on March 07, 2017, 06:21:50 AM My biggest mistake that I have done on bitcoin is I trust someone that I really don't know who he is because he says to me that I invest on that site then you earn profit everyday forever. And because I am new in bitcoin on that day and because he is good in salestalk then he has a proof that the site is paying so I invest bitcoin then at first its paying but after a couple days it stop paying then the site is cannot open. Then the most worst is I had scammed already then I had scammed again, lost again BTC.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: batang_bitcoin on March 07, 2017, 06:27:20 AM My mistake is very normal and popular. I sold some of my coins at the very low price and I regret selling them. Since I'm still newbie way back then, I don't have any signals and I wasn't able to follow predictors opinion. So instead of being calm the feeling that reigned to me is to do panic selling. But as of now, I'm trying to fix that mistake.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: ChronoLite on March 07, 2017, 06:32:02 AM worst mistake i ever did with bitcoin is invest my bitcoin at hyip or ponzi game Me too. I was stupid and didn't know anything about Ponzi and HYIP site before, and keep deposited my money into Ponzi site for higher profit. But in the end they ran away my money and closed their service and then I stay away from HYIP.i do that when i am newbie at bitcoin and investing program i am interest it because my friend can make big profits from it, after get losses from it i hate ponzi and stay away from it Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: iram3130 on March 07, 2017, 06:39:36 AM This might be much stupid incident than others.
One morning when I was a newbie in the Bitcoin world, I was learning about trading and was trying to make some transactions. I used to check the rates regularly but never tried to buy or sell. But this time I felt to buy n sell, long story short I sold my bitcoins for a lower price and bought the same amount of Bitcoins for a higher price.. :'( Lost more than 0.1 BTC.. :'( Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Gembul on March 07, 2017, 06:49:29 AM worst mistake i ever did with bitcoin is invest my bitcoin at hyip or ponzi game i do that when i am newbie at bitcoin and investing program i am interest it because my friend can make big profits from it, after get losses from it i hate ponzi and stay away from it Same with me, the first time i know bitcoin. I've been fooled by several Ponzi schemes sites like HYIP and some cloudmining that already closed. I think things like that are commonplace for new users in the world of bitcoin because their knowledge about it. But in fact such a thing can also be avoided by actively reading the threads here. But at that time I was not familiar with bitcointalk and I think this incident is a serious error by believing hyip sites and cloudmining. Thank you Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kidoseagle0312 on March 07, 2017, 06:57:42 AM The biggest mistake that I've ever made in bitcoin was when I forgot to save my password in one exchange platform which I signed up. It was pitiful by that time in my part. Why? because I had a lot of coins which I saved to that exchange I won't mentioned it what trading platform is that, I tried to contact their admin but nothings happen, Until I accepted the fact that I've loss big amount of BTC I think its round about 0.8btcBTC. So I take it a big lesson to me. :'(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: lionheart78 on March 07, 2017, 09:06:09 AM Probably the biggest mistake i have done with Bitcoin is selling them when it was around $300. We were about to leave bitcoin back then so we decided to sell it to buy an item and venture that small business. We have no luck with that business so I decided to go back to Bitcoin last year. When Bitcoin start to pick up its price. If I could turn back the time, I would have suggest to hold that BTC and wait till now to sell it if the group really wanted to sell.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Zadicar on March 07, 2017, 09:34:20 AM Probably the biggest mistake i have done with Bitcoin is selling them when it was around $300. We were about to leave bitcoin back then so we decided to sell it to buy an item and venture that small business. We have no luck with that business so I decided to go back to Bitcoin last year. When Bitcoin start to pick up its price. If I could turn back the time, I would have suggest to hold that BTC and wait till now to sell it if the group really wanted to sell. Its too late to regret since past is past and you are not the only one being able to sell off their bitcoins on cheaper price compared as to now. We do really commit this kind of mistake since we dont know the price of bitcoin in the future.My mistake that i made on bitcoin is that i invest on hyip sites.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: carlisle1 on March 07, 2017, 09:42:41 AM so far I haven't made any biggest mistakes ever since that I started on using bitcoin and as I am not having a huge amount of it but I consider some mistakes when I was on the first months on this community which is that I am usually selling or converting most of my earnings from signature campaign and did not had any saving for most of its portion when it was only on $300 value although my total earning is not yet considered to be huge amount but for sure If I only saved most of it I already have $300+ right now ;D
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: vnvizow on March 07, 2017, 09:51:39 AM Selling after the Mt. Gox drop + not buying in for 2 years and forgetting about halving :'(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: AjithBtc on March 07, 2017, 10:14:34 AM I was informed earlier about digital currency years back. I didn't gave ear to it, else I could have made a big earning because during that time the price was around $280. Now too it's not too late to benefit from bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Wowcoin on March 07, 2017, 10:29:44 AM The biggest mistake I've done when the first time i read about bitcoin i didn't believe on it that is the time that bitcoin price is only 1$ i regret in my life that why i don't believe to it. The biggest mistake that never forget if i recall everything i dream that am a millionaire now when i buy bitcoin that time.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BitsifyOfficial on March 07, 2017, 10:32:33 AM Lol when Bitcoin was around $5 I read the white paper and was like pfft this ain't getting any where...That was a huge huge mistake not to invest :'( But meh what can I do now.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: audaciousbeing on March 07, 2017, 10:39:11 AM It seems mistakes over here are unavoidable and it will even be surprising that the same mistakes put on record here will still be made by someone else in the near future when there is a platform for record keeping like this. In my own case, my mistake was trusting a ponzi scheme after reading that at the beginning they pay then scam later. So, I joined the site at the very time it begins and to my surprise as at the time for me to make withdrawal like 3 days later, the site has gone scam and that was how my money went down the drain.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: warwar on March 07, 2017, 10:50:24 AM There are alot of mistakes i have done since i started using and earning bitcoins.First of all is the thing that i just didnt entertain and search about bitcoin wayback of the time of his launch and start when bitcoin reach a 400$ mark.Second is gambling all my bitcoins and eventually losing it all.Last is my hype that i want to earn big makes me fall to hyip and lose more money
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Rude Boy on March 09, 2017, 09:12:04 AM My biggest mistake was not getting into mining or at least mine on my PC back when I first ran across Bitcoin miner early.
But I started mining at late 2014. After that I read some article saying it could hurt my PC so I just stopped mining. And my PC was attacked by some silent mining program and i was unable to recover my PC. This is my biggest mistake ever i do. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: mornabo on March 09, 2017, 10:18:17 AM There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling. yes i also done different mistakes in different time. in resent time i sell some of my bitcoin in 1000 USD price and now i am regretting that i have made a big mistake. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: wizmo on March 09, 2017, 10:28:42 AM Before two year I need to send $15 for giftcard guy sent me a message with different address aand I sent him money then again sent me a message that send money to this address first one was wrong address by mistake and said previously sent money will be refunded to you as no one owns that address because 0 transaction and then after I've sent money no response from him.
This happens when I first used bitcoins and the seller of giftcard only accepting btc. I learned a lot from it. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kidoseagle0312 on March 15, 2017, 12:57:28 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Ayiranorea on March 15, 2017, 01:01:44 PM As a newbie I was not much aware of wallet and the features along with the same. So the weaker security made me lose small portion of my bought bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jamieb81 on March 15, 2017, 01:04:03 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$. That's the same mistake most of us did by selling our bitcoin for lesser price then later regretting about it and i have seen two type of people one those newbie who sell all their bitcoin once there is a drop in the price and the other ones are those who sell all their saved bitcoin once the price reaches at peak assuming that it might crash down anytime. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Zadicar on March 15, 2017, 01:18:10 PM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$. That's the same mistake most of us did by selling our bitcoin for lesser price then later regretting about it and i have seen two type of people one those newbie who sell all their bitcoin once there is a drop in the price and the other ones are those who sell all their saved bitcoin once the price reaches at peak assuming that it might crash down anytime. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Dudeperfect on March 15, 2017, 01:22:28 PM Sorry but I don't have a decent story to tell. I think my (second) biggest mistake was wasting time in faucets and gambling. I feel fortunate that I stopped using faucets and gambling sites because I realised that it was mere the waste of time and nothing more than that. The first mistake is obviously not popping in early, but still, I believe that bitcoin is still in its early phase and we are early adapters.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: rajasumi3 on March 15, 2017, 01:27:35 PM i dont have a terrible story to tell.
but selling those bitcoins at the price which is much lower than it is now. this is the biggest mistake i have done till now. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: carriebee on March 15, 2017, 01:42:59 PM The biggest mistakes so far Ive done with bitcoin is eager to sell the btc when I had before when the price is cheaper. The eagerness to sell when I have it, I didnt think twice that btc price will rise more than $1000. Also, I regret when I was addicted into gambling before that I wasted much my bitcoin and lose a lot. So, I thanked this forum when I knew I can earn here.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: seven4smoke on March 15, 2017, 09:50:02 PM The biggest mistakes so far Ive done with bitcoin is eager to sell the btc when I had before when the price is cheaper. The eagerness to sell when I have it, I didnt think twice that btc price will rise more than $1000. Also, I regret when I was addicted into gambling before that I wasted much my bitcoin and lose a lot. So, I thanked this forum when I knew I can earn here. These are good words for those who still believe that thanks to gambling you can get rich or win a lot of bitcoins. It's not true. The user still for all the time that he plays gambling, spends a lot more than he wins.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Rabber on March 15, 2017, 09:54:55 PM Ignoring when someone told me about bitcoin when it was around a few dollars and not buying enough when it was at a couple hundred.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: emezh10 on March 16, 2017, 07:02:24 AM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! My greatest mistakes: 1) Did not buy any when it still was cheap arount 5$ 2) Did not buy any when it was rallying over 10$ 3) Did not buy any when it was rallying over old ATH 32$ and so on... So I will prepare for the next dip - I will fund my Mt Gox account and buy lots of coins if and when we get 20-30$ There are many mistakes I experienced in using bitcoins but there is one is unforgetable for me. When I was starting in bitcoin I used to gamble to gain earnings. When I have a capital of 0.00005, I used it and then grow for about 0.001 and then when I got sleep I didn't recognized that I was lose real quick. And then when I play gambling I sure that I won't lose again. :) Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Watercooler on March 16, 2017, 07:18:11 AM The biggest mistake I made with bitcoins is not getting in earlier in the game, but better late then never ;) It's still early enough to make some profits
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: AIGADS on March 28, 2017, 03:34:20 PM :)This is quite strange, I also do not know initially why it could happen. When I will send bitcoin, but the bitcoin address suddenly changed, I wasn't aware of it and finally I lost about 0.2BTC and After it I reinstall my computer and more carefully when I will send bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: iamTom123 on March 28, 2017, 03:41:14 PM I am amazed that this thread was posted originally in 2013. Since I started in Bitcoin, I learned many things. One is that selling while Bitcoin is going down can be a big mistake because eventually Bitcoin will rebound back. Just a week ago I lost a little because I converted my Bitcoin into the local currency...just when it was apparent that the value is going down and down but look at Bitcoin now...after some days it is stabilizing at 1K+ level. Oh well...
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: STT on December 02, 2017, 08:23:04 PM > Cryptostocks has been taken offline as previously announced on 20.12.2016. If you still have funds residing on the platform then please contact customerservice@cryptostocks.com to arrange the withdrawal. Take note that the withdrawal will incur a fee of 0.1 BTC.
This is one of the biggest mistakes I made which to rely one site admin to be reasonable in handling small investments. His logic is, Im not stealing your deposits I just havent adjusted my costs for several years and so its just too bad if I'm now asking $1,000 just to return your own money back to you. https://en.bitcoin.it/wiki/Crypto::Stocks Bitcoin is decentralised but the sites you visit and use with it are very much not in most cases. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: crypto4lambo on December 02, 2017, 11:55:02 PM My biggest mistake with regards to Bitcoin so far is selling it too early. I panicked and sell my holding immediately when Bitcoin dips. I let my emotion take over my trading plan. I really regret it whenever I see Bitcoin hits ATH. I was very upset with what I act and I don't have anything to do with it. I just make it as a learning curve and see to it that whenever I have plan, I really need to execute it no matter what unless there is something that requires it to be amended. Bitcoin is a great investment specially for long term and no one can doubt about it. Have trust in cryptocurrency and you can have a great return of investment.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: kenjay11 on December 08, 2017, 03:45:15 AM I'm new to the bitcoin world so my experience with bitcoin is not as much. October this year when I joined bitcoin and I'm here in bitcoin for almost three months. And in those three months I have not had the biggest mistake that I have done in bitcoin, and I hope I can not make a mistake here in bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: LETme on December 08, 2017, 07:04:09 AM As of now i do not have any bitcoin my biggest mistake is not knowing bitcoin for so many years. As a beginner i should know my prioritise and make a good decision.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: wel24 on December 08, 2017, 07:54:18 AM My biggest mistake that ive done with bitcoin is that im not giving btcoin or show dedication to engaged and support when its value is little low.Everytime theres a bitcoin coming into my wallet i have converted it into my own currency how sad.If i know that the future of bitcoin is bright since the first day i know it maybe am a millionaire now.Lesson learned that we have to be patient and dedicated to the path we want to go througj learn how to be patience and faithful.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: jrrigs on December 08, 2017, 08:03:20 AM Spent a considerable amount of bitcoin on 3 revshare sites last year. Almost had my seed money back but the lure of internal compounding resulted in me just getting around 10% of what I initially put in before the sites closed.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Karmakid on December 08, 2017, 08:05:35 AM The biggest mistake that I made in bitcoin was investing in a HYIP site ,
Then right after I sent my bitcoin found out that it was just a scam site and not really going to pay you . Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: hkdfgkdf on December 08, 2017, 08:14:12 AM Underestimating bitcoin and not investing earlier when the price is still low. Gambling and exchanging it with a low potential altcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: vinz7229 on December 08, 2017, 11:01:52 AM Discover Bitcoin Two years later :( me too, im too late in entering bitcoin world, my friend already introduce bitcoin to me but i don't give any attention from it, but I've notice this past few months that my friend already have his own car because of bitcoin. that was the time that I take bitcoin seriously. maybe if I listen to him during the time that bitcoin is only 60k. may now im already have my own car and house too. for now im also try trading and joining some signature campaign and i got payout weekly. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: syamster on December 09, 2017, 05:39:11 PM Spent a considerable amount of bitcoin on 3 revshare sites last year. Almost had my seed money back but the lure of internal compounding resulted in me just getting around 10% of what I initially put in before the sites closed. Actually five months’ before I have done a mistake which I can’t forget and that mistake give me a lesson for future because it never happen before but on that day I did not check the price of bitcoin and I see all my bitcoins in that dealing I did a very big mistake now I check the price of bitcoin every day because small mistake can make a big problem for you it's mean bitcoin price matter and need to be very careful when you want to buy or sell.Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: daniyalasghar on December 09, 2017, 05:45:41 PM the biggest mistake i made was i sold my btc when its price was only few dollars :'(
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: iamwhitewave on January 08, 2018, 02:46:08 AM Biggest mistake is not being able to hold. Sold all my good coins and now they're pumping and me regretting hahahaha
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: edsnow2017 on January 08, 2018, 03:01:00 AM When I don't secure my wallet and suddenly got hacked
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: adhika.g on January 08, 2018, 03:02:30 AM Lost data account of my encrypted wallet with 0.6 BTC inside
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: JoMarrah Iarim Dan on January 08, 2018, 03:03:03 AM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. The first mistake i've done in bitcoin is that i do not beleive in bitcoin when the first time I discovered it, I do not accept it for some important reason but time comes that i really need money so I pursue bitcoin. Another big mistake i've done is to cash out my 0.01 btc I earned when I was junior. That time, the value of bitcoin is 2000$ or 100K peso. I really do not know what I am thinking in that time. I think i am excited to hold in my hands that money since it is my first time to earn that big money. Instead of cash out, i must hold it. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Mumbeeptind1963 on January 08, 2018, 03:16:13 AM Spent a considerable amount of bitcoin on 3 revshare sites last year. Almost had my seed money back but the lure of internal compounding resulted in me just getting around 10% of what I initially put in before the sites closed. I considerable my biggest mistake I've done in bitcoin is not trusting to it the first time I know it because of it don't have knowledge about cryptocurrency and I don't know how to use it. But right now I didn't mind at all the mistake I've done in bitcoin because even i refuse to use it at first still enter the world of bitcoin. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: athanz88 on January 08, 2018, 09:57:36 AM My biggest mistake with bitcoin is not involved in any amount of bitcoin.
My biggest mistake is I don't invest on bitcoin when I heard the news that a man sold his 10k bitcoins for 2 boxes of pizza. Because I was scammed at some money making online program like HYIP. It made me skeptical of it. And I didn't take the opportunity to invest on it. Heck I can give that man 5-10 boxes of pizza for him in that time. Damn the regret is high up until now. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: ashfer on January 08, 2018, 10:01:21 AM Not buying in bitcoins when i had funds to buy them and ending up loosing bitcoins when my system crashed as i did not have back up copy of private key and wallet address.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: bxipp on January 08, 2018, 10:03:40 AM When i sell all my bitcoin when it still cheap and miss the train when it has being pump up. I loss almost triple from it actually price and that was annoy me to much.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: godrey123 on January 08, 2018, 10:05:25 AM As the topic says, What are the biggest mistakes you've done with Bitcoin? The biggest mistake taht I made in bitcoin is when I sold my bitcoins around $4000. I didn't actually though that its pruce would go upto $19000 dollars. I also regret selling my other coins and just a day after that its price juat tripled. It is just so frustrating.I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: BlackRacerX on January 08, 2018, 10:08:58 AM As the topic says, What are the biggest mistakes you've done with Bitcoin? I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such. I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already. I will post everything I find on this very simple website: http://sites.google.com/site/whoissatoshi/bitcoin-mistakes Don't be shy! EDIT: Please add some context, interesting details etc to make it a nice story. The 2 biggest mistakes I made on bitcoins are not investing before and investing too early. The time I knew bitcoins was around 2012 when bitcoins before were really cheap. I did not even bother buying bitcoins before because I did not know how. Even if I did, I had no money with me. Recently, I made a too early investment. The thing is, whenever I invest on something, something bad usually happens. It did this time. When I invested a large amount of money on bitcoins, the price declined. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: laracastvue on January 08, 2018, 10:15:29 AM Gamble about 150 BTC away around 5-10 dollar range. Next biggest was to sell most of my coins on the way back up @ $26. Gambling is very risky because you do not really know how their website works and you can become broke within just one day if you did not play well. I highly suggested that you should focus on trading rather than playing on betting sites because you have a higher probability to earn profit on the market. Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: codpku on January 08, 2018, 10:55:23 AM My biggest mistake that i've done with bitcoin was i'm to late to start this
And i don't hear my friend when they start it and now they already taste money from bitcoin But thats okay to late than ever i think Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Pei on January 08, 2018, 11:10:49 AM I have heard about this bitcoin technology back in 2010, but the biggest mistake i have done is I did not get serious on to this bitcoin network back then, and that is a biggest loss in my when I got in the community the bitcoins have reached so high that it is not easy get even 1 bitcoin.
Title: Re: What are the biggest mistakes you've done with Bitcoin? Post by: Lookjoz on January 08, 2018, 11:17:34 AM The biggest mistake I do not know about bitcoin, after I read and learn bitcoin is very good to be made a promising income.
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