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Author Topic: I recovered my wallet from 2014 and saw how close I was to being a millionaire  (Read 672 times)
qwertyup23
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January 06, 2022, 06:09:03 PM
 #81

I somehow/relatively understand what you are going through, OP.

Back in 2017 when I first started my journey in this forum, I remember earning 0.005 BTC/weekly (roughly ~$5) from participating into campaign signatures. I mostly cashed out my BTCs every time I earn around $20 since I had to purchase some books for my education. Looking back and upon checking my wallet address, I noticed that if I did not sell all of my BTCs that I earned, I could have had ~$35,000 on my pocket right now which is definitely game-changing for someone who lives in a third-world country.

While your losses are far greater than what I just shared, still, the lesson is definitely to HODL for long-term gains.

R


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Oilacris
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January 06, 2022, 08:26:04 PM
 #82

I somehow/relatively understand what you are going through, OP.

Back in 2017 when I first started my journey in this forum, I remember earning 0.005 BTC/weekly (roughly ~$5) from participating into campaign signatures. I mostly cashed out my BTCs every time I earn around $20 since I had to purchase some books for my education. Looking back and upon checking my wallet address, I noticed that if I did not sell all of my BTCs that I earned, I could have had ~$35,000 on my pocket right now which is definitely game-changing for someone who lives in a third-world country.

While your losses are far greater than what I just shared, still, the lesson is definitely to HODL for long-term gains.
I have more than those amounts if we do talk about earning from campaigns which i had been doing this for years which if we do make out some calculation or looking back then we would
really able to say that if we do able to hold those coins then we might really have that big amounts we do have in our pocket at the moment considering on how big the value of bitcoin
did able to achieve then we could really say into our minds that we should have held off but well on the time we are earning those times then we do have different
priorities which is normal for us to cash out on any coins that we do earn into those times.

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January 06, 2022, 08:34:57 PM
 #83

A lesson that I learned here is never sell

That's a pretty poor lesson that definitely does not apply universally to all investment situations. Going by such vague and blanket statements is going to set you up for failure, just accept that you did some Bitcoin trading in the past and probably still made some money from it. Be happy with what you've got or you'll just end up doing more damage to yourself psychologically in the long run. It could be much worse, many people have invested in altcoins or stocks that have crumbled in value in the last year, I get the feeling that you probably held your initial value at a minimum. You should always be re-evaluating your investments but nobody knew the skyrocket direction Bitcoin would take.

R


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January 06, 2022, 08:59:34 PM
 #84

You didn't know that bitcoin would go this far, it's not good torturing yourself over what's already been done. Also, it's not too late to be a millionaire, bitcoin still has a long way to go so you can still get in and hodl for a really long time and wait for to grow exponentially over the years.

This is exactly the way to look at things in my opinion as well.  When I first found bitcoin it was around $200 or less.  When I first bought in to bitcoin, it was something like $225.  If I look back at all of the bitcoin I spent over years, had I held it all then I would likely be a millionaire.  But that's really not the way to look at it.  First off bitcoin is a currency, so it's meant to used/spent.  Secondly as a financial advisor I am ultra aware of the importance of diversification.  Also, I have bills to pay and so do others.

These things need to be kept in mind! 

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January 22, 2022, 11:38:34 AM
 #85

Year 2030:

Most of the guys who are active here from 2020-21 would tell you similar stories. From my part, I first invested in Bitcoin in 2021. Back then I had purchased BTC at $60,000 per coin (a few months later, the rates dropped to $40,000 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $1 million or even $10 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2021 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Thanks to Sithara007

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Year 2030:

Most of the guys who are active here from 2020-21 would tell you similar stories. From my part, I first invested in Bitcoin in 2021. Back then I had purchased BTC at $60,000 per coin (a few months later, the rates dropped to $30,000 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $1 million or even $10 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2021 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Thanks to Sithara007

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