My Early Bitcoin Journey and the Lesson I Learned the Hard Way

[Cantsay]

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

I think majority of people were hesitant to keep their money in bitcoin because thought it would go or something bad would happen and their money would be gone, so it’s not just you don’t be hard on yourself, you’re still alive today and that’s a good chance for you to get back and make the best you can still make from crypto, dwellin on the past won’t change anything for you.

We all saw bitcoin when it was still worth nothing and didn’t think much about it because we really didn’t see anything in it until it finally blew up in our face, I have stopped regretting it a long time and focused more on how to avoid the same history repeating it self again.

[Agbamoni]

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

It wont pay off if you keep blaming yourself for something you did unintentionally years back. The best way to correct past mistakes is to make the right decision now in the future.

Frankly speaking sometimes I wish i could know the next big thing. My instincts tells me, AI is the next big thing and its already making lots of fame, we can see the potential.

[Questat]

It wont pay off if you keep blaming yourself for something you did unintentionally years back. The best way to correct past mistakes is to make the right decision now in the future.

Frankly speaking sometimes I wish i could know the next big thing. My instincts tells me, AI is the next big thing and its already making lots of fame, we can see the potential.

Seems like he’s not blaming himself anymore, just sharing his experience so others can learn or maybe relate to it. Back then, Bitcoin was used more for gambling than investing, at least in my opinion. Exchanges were limited and the trading volume wasn’t that big, so it really took a smart and brave decision to believe in Bitcoin and hold it long-term.

Because if you didn’t have that kind of mindset, you’d naturally go with what’s already accepted .. treat fiat as savings and just spend your Bitcoin for gambling instead.

[Odohu]

Just sharing a bit of my experience… I was already around during the early days of Bitcoin. I had a stable job and a steady income, and I thought I was being smart with money. I also found some side hustles online that paid me in Bitcoin -  not huge amounts, but it added up over time.

The problem was, I didn’t really see its value back then. I ended up using most of those coins for gambling, while the money I saved from my salary just sat there, slowly losing value because of inflation.

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

This is the same story for most of us and there is no need crying over spilled milk. Bitcoin is not going anywhere soon so you can still correct your mistakes now by accumulating as much as your finances can allow you. 2o years from today, there are people in this forum and reading your post that will also cry out that they met Bitcoin around $100k but felt it was too high hence they refused to buy and that would be the biggest regret of their life.

[MRY]

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

I think majority of people were hesitant to keep their money in bitcoin because thought it would go or something bad would happen and their money would be gone, so it’s not just you don’t be hard on yourself, you’re still alive today and that’s a good chance for you to get back and make the best you can still make from crypto, dwellin on the past won’t change anything for you.

We all saw bitcoin when it was still worth nothing and didn’t think much about it because we really didn’t see anything in it until it finally blew up in our face, I have stopped regretting it a long time and focused more on how to avoid the same history repeating it self again.

The fear of losing their money was quite tangible because the general public was not very familiar with the idea of Bitcoin and was unsure whether the technology would extend for the whole companies to persist. Nevertheless, remorse about what could have been done with the money spent instead of purchasing Bitcoin at a low price should be eradicated.

The thing is that there are still many opportunities in the crypto world which keep appearing. We ought not to be burdened with the past but use this present to make an investment that will pay off. The greatest lesson is that we need to do a very good research prior to making any decision, and thus, we will not repeat the same mistake of dismissing financial innovation due to the lack of trust.

[davis196]

Just sharing a bit of my experience… I was already around during the early days of Bitcoin. I had a stable job and a steady income, and I thought I was being smart with money. I also found some side hustles online that paid me in Bitcoin -  not huge amounts, but it added up over time.

The problem was, I didn’t really see its value back then. I ended up using most of those coins for gambling, while the money I saved from my salary just sat there, slowly losing value because of inflation.

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

Is you mistake actually a mistake?
There are two things to consider about the the early days of Bitcoin:
1.Nobody expected that the Bitcoin price would ever hit 125K USD.
2.The crypto gambling industry was unregulated and most crypto supporters thought that spending their BTC(or altcoins) on gambling would be fine because:1.The Bitcoin/crypto prices won't go up, but it's more likely for them to go down. 2.Most crypto casinos were no-KYC and there weren't any taxes over crypto gambling winnings back then.
This makes your past decisions completely logical. If I was at your place 10 years ago, I would probably do the same thing.
Anyway, the past is gone and we shouldn't feel regrets. Life goes on and maybe someday we might become Bitcoin millionaires.

[Derekfunds]

Nobody know that one day Bitcoin will be this great back then when it almost nothing compare to it's value now and you should not blame yourself much because you are not the only person that made such mistakes because a lots of people made same mistake and they are regretting now. But it is not longer a matter of regretion because you can still make it to the top but you just need to be patient and consistent. And I believe in years coming Bitcoin will still do X of its current price or value now so cheer up and continue and don't allow your past to destroy you rather let it create or make you, we learn everyday.

[CryptoHeadlineNews]

Just sharing a bit of my experience… I was already around during the early days of Bitcoin. I had a stable job and a steady income, and I thought I was being smart with money. I also found some side hustles online that paid me in Bitcoin -  not huge amounts, but it added up over time.

The problem was, I didn’t really see its value back then. I ended up using most of those coins for gambling, while the money I saved from my salary just sat there, slowly losing value because of inflation.

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

It's actually nice to have such an encouraging words from an experience and old forum member like you, because however, it is never too late too to hold a large portion of your money in Bitcoin too. Because just the same way you are regretting not holding when you had the privilege 10yrs ago, that's the same way you will wished you had held today in the next 10yrs to come in the future. So I'm very much happy the lesson has been learnt and now is time for action, as we strive to accumulate as much as possible. So it's actually a pleasure to have a piece of advice from you.

[eisen33]

Just sharing a bit of my experience… I was already around during the early days of Bitcoin. I had a stable job and a steady income, and I thought I was being smart with money. I also found some side hustles online that paid me in Bitcoin -  not huge amounts, but it added up over time.

The problem was, I didn’t really see its value back then. I ended up using most of those coins for gambling, while the money I saved from my salary just sat there, slowly losing value because of inflation.

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

This lesson can be interpreted in different ways, when you mentioned that you were saving money from your salary and it was just sitting there, losing value due to inflation, you could have invested it and it could have generated a profit. I doubt you could have invested it in Bitcoin back then, but you could have invested it in something else that could have also generated a profit. Bitcoin is just one way to make a profit, although it turned out to be a very good one over time, but back then, it was too difficult to foresee.

[Hazink]

If I only knew what Bitcoin would become, I would’ve held every sat I earned. So, learn from my mistake.. sometimes the money that feels “extra” now could be the one that changes your life later.

Or assuming you know the value of bitcoin will be like this, it could just have been easier if you used that salary which you have been saving in fiat to gamble while saving those bitcoins as your own reserve, but we don't know it all, and it's now a matter of regret, and you only regret it because of the value of bitcoin now, and maybe you might have gone through your wallet history to see how much coin you spent over the years and its current value which is enough to send a regret signal right into your brain.

[GigaBit]

Just sharing a bit of my experience… I was already around during the early days of Bitcoin. I had a stable job and a steady income, and I thought I was being smart with money. I also found some side hustles online that paid me in Bitcoin -  not huge amounts, but it added up over time.

Not all those who are real holders of Bitcoin make large investments and hold them, but there are many who hold very small portions gradually for a long time. There will also be some holders who, despite the cost, do not spend a large amount of money on anything else and deposit that money in Bitcoin. Those who struggle and try to hold their wealth are the ones who benefit the most. Although holding Bitcoin for the long term seems easy, in my opinion it is not an easy task. There is no end to human demand, and even if income does not increase, people's expenses are increasing, which is why it is not possible for everyone to hold that money for the long term despite the financial crisis. That is why it is often said that only those who are strong holders will be able to benefit the most from Bitcoin.

[MRY]

Nobody know that one day Bitcoin will be this great back then when it almost nothing compare to it's value now and you should not blame yourself much because you are not the only person that made such mistakes because a lots of people made same mistake and they are regretting now. But it is not longer a matter of regretion because you can still make it to the top but you just need to be patient and consistent. And I believe in years coming Bitcoin will still do X of its current price or value now so cheer up and continue and don't allow your past to destroy you rather let it create or make you, we learn everyday.

Yes, no, the inability to recognise the value of Bitcoin even at the time when its price is practically zero is not an individual mistake, but a shared one of many people. Remorse in the form of less taken chances should be buried. Instead of dwelling on the dark past, it should be looked at positively in terms of the growth potential of Bitcoin, which is likely to be valued to much greater degrees within the next few years.

The lesson here is to be patient and consistent in your present investment programme, and then you will reap the ultimate financial benefit in future. We have to perceive previous experiences as good teachings that develop a sense of innovation. You should strive harder with renewed energy since learning is a lifelong process.

[passwordnow]

Nobody know that one day Bitcoin will be this great back then when it almost nothing compare to it's value now and you should not blame yourself much because you are not the only person that made such mistakes because a lots of people made same mistake and they are regretting now. But it is not longer a matter of regretion because you can still make it to the top but you just need to be patient and consistent. And I believe in years coming Bitcoin will still do X of its current price or value now so cheer up and continue and don't allow your past to destroy you rather let it create or make you, we learn everyday.

It's normal to blame ourselves when we've spent recklessly the bitcoins that we have. But the price of it back then was very small and that's why no one anticipated that it will become a $100k worth of asset. Despite that there were speculations that it will reach that price someday back then, that hasn't been expected that it will be this early. We all learn the hard way and just like OP and everyone, I've got my share as well and learned the hard way when I've sold too early to. This is a separate amount from the bitcoin's that I've gambled too.

[MainIbem]

The mistake that you made is not that you gambled with the little bitcoin that you have, the mistake was that you hold your money in fiat in bank and not convert it to bitcoin and hold it.

If there is life, there is hope. We make mistake to have a better future if we know the mistake and start to avoid it. Bear market will still come, you can hold bitcoin instead if that time comes.

It's not about using the Bitcoin he has for gambling but he used a large portion of it which was wrong, well ignorance played a role to that so I won't blame him much for that cause I believe if it were now he wouldn't try such but would've used some portions, I mean very little portion of it since Bitcoin has become very valueable currently, well the deed has been done and the good thing is that he's learnt from his mistake, many of us made errors in the past concerning how we spent our Bitcoin but we've learnt and we're doing the right thing now, which is very important.