Bitcoin Losses

[bennybong]

Lost 17.27btc and a £10,000 bank wire to mtgox. And 6 or so coins to blackarrow.

overall still in profit but i hold very little coins anymore. Cashed out and had a whale of a time. My only regret is not getting in on it sooner!

[1714996431]

1714996431

[1714996431]

1714996431

[Snipe85]

Not a single coin. Haven't been hacked, never invested in a scamcoin or cloud mining, every time I lost something in a casino I always got it back.
I don't call myself lucky but at least I'm not unlucky

[bisom]

I have lost +15 btc on primedice, but I am continuing gamble because I want to restore my loss.

Never chase losses. That money is gone and all you end up doing is increasing your losses over time. Good luck either way.

Absolutely right. The best thing you can do is giving up the gamble. The house always wins.  

As for me I have lost nearly 3 btc to a scam. I am trading to gain my losses.

[odedrozan]

Satoshibones .. quick bet result .. lost 2900$ like 15-16 BTC
At this time i chase to get money back with betting more ,then i stopped betting ..

[pawel7777]

Never got scamed or hacked (yet). Lost ~BTC1 total combined on gambling sites, no regrets though, no risk no glory

And those people who had the guts to take the risks end up winning big time or losing big time. It's just a matter of right execution of plans and decision-making. Luck can sometimes be a part of success too.

Mostly true, but you don't have to end up winning big or losing big. There are few gamblers with healthy approach. Just set an amount each month that you're comfortable to lose and play with that and only that.

my losses have been in:
gambling, I have lost around 0.2 bitcoin in dice games
...
...I usually try to keep me away from these type of sites :/

..said the man with bitcoin casino in his signature  

[bryant.coleman]

Lost 17.27btc and a £10,000 bank wire to mtgox. And 6 or so coins to blackarrow.

overall still in profit but i hold very little coins anymore. Cashed out and had a whale of a time. My only regret is not getting in on it sooner!

That's sad. So the combined loses are somewhere in the range of $30,000. 30K is a huge amount for me. Represents several years of savings.

It makes me angry that tens of thousands of people lost such huge amounts to the Mt Gox scam, and the person who is responsible is still enjoying his life partying and planning for the next scam.

[Kprawn]

Added together .... I would say I lost about 1 Bitcoin to older Cloud mining services that never ROI or closed their doors, when cloud mining was still the "In thing" 

At some time in your life, you make poor investment decisions and I write them off as "school fees" not mistakes. The better decisions always make up for the bad ones...

I would rather make three bad decisions and one GREAT decisions than not making any decisions at all. {If you take no calculated risks, you will not succeed}

I have read most of the books from successfull business men and women and they have all failed in many of their previous attempts at making a success, until they succeeded in one big project and that propelled them into greater success. 

[dothebeats]

Added together .... I would say I lost about 1 Bitcoin to older Cloud mining services that never ROI or closed their doors, when cloud mining was still the "In thing" 

At some time in your life, you make poor investment decisions and I write them off as "school fees" not mistakes. The better decisions always make up for the bad ones...

I would rather make three bad decisions and one GREAT decisions than not making any decisions at all. {If you take no calculated risks, you will not succeed}

I have read most of the books from successfull business men and women and they have all failed in many of their previous attempts at making a success, until they succeeded in one big project and that propelled them into greater success. 

Let's face it, the reality is that to be able to see success, one must fail first in order to be motivated and set things right. Decision-making is the most important part in one's success. One bad decision and you lose, but sometimes, executing bad plans often result to an even greater success, because if you're the positive one, you'll treat those as "school fees" (as to what you have said) and continue going further with enough knowledge not to repeat the same process again.

[Fabrizio89]

Lost a bit in stupid bitcoin stocks, but made profit too. Lost a bit by buying stupid miners. Lost a bit in trading when learning. Overall I'm doing good anyway.

[Lboss]

I have lost :

~19 BTC @ vircurex - due to hacks claims of site owner ( I was out of city , got barely internet connection when it happened)
~10-15 BTC(equivalent of 64k DGC at that time ) @ cryptoave- due to unabilty of site owner baritus
~12-15 BTC @ ltcgear scam
~5 BTC at bitcoin stocks (like AM , MergedMining and old stocks)

Totally I have lost about 45-55 BTC. Good lessons for me.

[r3wt]

I have lost :

~19 BTC @ vircurex - due to hacks claims of site owner ( I was out of city , got barely internet connection when it happened)
~10-15 BTC(equivalent of 64k DGC at that time ) @ cryptoave- due to unabilty of site owner baritus
~12-15 BTC @ ltcgear scam
~5 BTC at bitcoin stocks (like AM , MergedMining and old stocks)

Totally I have lost about 45-55 BTC. Good lessons for me.

You forgot to mention the 16(.6 btc IIRC) shares you invested with me in OpenEx.

[Lboss]

I have lost :

~19 BTC @ vircurex - due to hacks claims of site owner ( I was out of city , got barely internet connection when it happened)
~10-15 BTC(equivalent of 64k DGC at that time ) @ cryptoave- due to unabilty of site owner baritus
~12-15 BTC @ ltcgear scam
~5 BTC at bitcoin stocks (like AM , MergedMining and old stocks)

Totally I have lost about 45-55 BTC. Good lessons for me.

You forgot to mention the 16(.6 btc IIRC) shares you invested with me in OpenEx.

Well , Im getting back those , right ?  So, I dont think its a lost.

Besides , I was really liked your open exchange idea. At first , It wasnt my main idea to get more profit. I was just excited to see an open exchange funded by me (even it was small portion). I really didnt worried about what I invested. However, It was sad to see hack things and I was worried about other peoples' fund. Even if you didnt want to pay investors money, I was OK , because I knew it was risky like all start-ups.

Anyway , I think its not a lost and want to appreciate for your efforts after all.

[rememberme]

I have lost :

~19 BTC @ vircurex - due to hacks claims of site owner ( I was out of city , got barely internet connection when it happened)
~10-15 BTC(equivalent of 64k DGC at that time ) @ cryptoave- due to unabilty of site owner baritus
~12-15 BTC @ ltcgear scam
~5 BTC at bitcoin stocks (like AM , MergedMining and old stocks)

Totally I have lost about 45-55 BTC. Good lessons for me.

You forgot to mention the 16(.6 btc IIRC) shares you invested with me in OpenEx.

Well , Im getting back those , right ?  So, I dont think its a lost.

Besides , I was really liked your open exchange idea. At first , It wasnt my main idea to get more profit. I was just excited to see an open exchange funded by me (even it was small portion). I really didnt worried about what I invested. However, It was sad to see hack things and I was worried about other peoples' fund. Even if you didnt want to pay investors money, I was OK , because I knew it was risky like all start-ups.

Anyway , I think its not a lost and want to appreciate for your efforts after all.

Good man

[btcton]

I haven't lost anything myself. Either that or it was so insignificant that I don't even remember.

I have never gambled or put myself in a risky position as far as I can recall. Then again, nothing has warranted that situation.

[r3wt]

I have lost :

~19 BTC @ vircurex - due to hacks claims of site owner ( I was out of city , got barely internet connection when it happened)
~10-15 BTC(equivalent of 64k DGC at that time ) @ cryptoave- due to unabilty of site owner baritus
~12-15 BTC @ ltcgear scam
~5 BTC at bitcoin stocks (like AM , MergedMining and old stocks)

Totally I have lost about 45-55 BTC. Good lessons for me.

You forgot to mention the 16(.6 btc IIRC) shares you invested with me in OpenEx.

Well , Im getting back those , right ?  So, I dont think its a lost.

Besides , I was really liked your open exchange idea. At first , It wasnt my main idea to get more profit. I was just excited to see an open exchange funded by me (even it was small portion). I really didnt worried about what I invested. However, It was sad to see hack things and I was worried about other peoples' fund. Even if you didnt want to pay investors money, I was OK , because I knew it was risky like all start-ups.

Anyway , I think its not a lost and want to appreciate for your efforts after all.

Yes,that is correct. I don't know if you noticed or not but i did send your first payment monday morning of this week. :-)

I will be the first to admit, that it was all my fault. I trusted someone else to code the exchange, and paid them, and they just straight up f***ed me over, and i tried to pick up the work from there but i obviously was not a very good programmer at the time. OpenEx will be back some day, i'm working very hard on it. I don't like to brag, but i did take this lesson to heart, and as of now i am a full time employed Professional Web Developer. I thank you for understanding and not piling on me like alot of other people did. You are a very nice person. I hope that the kindness you have displayed towards me comes back to you 10 fold

I will leave you with a sneaky little preview of what i do in my spare time after work:

[Lboss]

===snip===

Yes,that is correct. I don't know if you noticed or not but i did send your first payment monday morning of this week. :-)

I will be the first to admit, that it was all my fault. I trusted someone else to code the exchange, and paid them, and they just straight up f***ed me over, and i tried to pick up the work from there but i obviously was not a very good programmer at the time. OpenEx will be back some day, i'm working very hard on it. I don't like to brag, but i did take this lesson to heart, and as of now i am a full time employed Professional Web Developer. I thank you for understanding and not piling on me like alot of other people did. You are a very nice person. I hope that the kindness you have displayed towards me comes back to you 10 fold

I will leave you with a sneaky little preview of what i do in my spare time after work:

===snip===

Yes , I saw , thank you for payment.

Trust is a big issue for everyone's life. Actually, thats also why bitcoin will become/(became) so important due to its trustless nature.

For new OpenEx , I wish good luck to you. However, I have to say that exchanges are not very popular today as it was in past. There are lots of small and a few bigger exchanges around. And nearly trade volume all of altcoin exchanges is getting lower. If you think to start just an altcoin exchange without any extra features , you can get hard times for marketing and tracting new customers. Also there are some efforts for decentralised exchanges like mappum (maybe bitbay). I believe you have thought twice or more about security.
Maybe if there is any option to invest , I can be again involved in it.

Thanks also for good wishes for me. I think youre also honest and determined person.

[Daniel91]

As I read your stories it really gives me the creeps.
It seems I'm lucky, still didn't loose anything.
My strategy is to cash out my BTC, as soon as I earn them, via paypal to my bank account.
Value of BTC is still not stable, prices constantly rising and falling, so I don't see any reason to keep them in my wallet.
I also don't buy things with BTC, don't play games so no meaning to keep them to long in my wallet.
I'm sorry because of your Bitcoin Losses.

[rememberme]

As I read your stories it really gives me the creeps.
It seems I'm lucky, still didn't loose anything.
My strategy is to cash out my BTC, as soon as I earn them, via paypal to my bank account.
Value of BTC is still not stable, prices constantly rising and falling, so I don't see any reason to keep them in my wallet.
I also don't buy things with BTC, don't play games so no meaning to keep them to long in my wallet.
I'm sorry because of your Bitcoin Losses.

Good technique i guess, im currently looking for crowdfunds to invest in.

CoinApult was a good one, im very interested in SendChat now. Any comments on their work so far?

[randy8777]

As I read your stories it really gives me the creeps.
It seems I'm lucky, still didn't loose anything.
My strategy is to cash out my BTC, as soon as I earn them, via paypal to my bank account.
Value of BTC is still not stable, prices constantly rising and falling, so I don't see any reason to keep them in my wallet.
I also don't buy things with BTC, don't play games so no meaning to keep them to long in my wallet.
I'm sorry because of your Bitcoin Losses.

by this you reduce the risk of losing coins but aren't you interested in investing in bitcoin at some point? waiting for stability can take some years. this thread is a great source of information which helps you to not make the same mistake as others did.

[blumangroup]

Discuss how much you have lost and how.

This makes me sad when i think of it but it is good to revisit something where you clearly had a problem to do what you done, in my case i lost over 5btc gambling in a week! I have been scammed at least 1 btc and reinstalled a wallet with 2btc in without backing the wallet. So at the very least i have lost 8btc! Which to some might not be much but i don't even have that total anymore :/

Well imagine 40btc

Well i will be honest after imagining losing 4+ times as much as i did that makes me a little happier with my losses so thank you for sharing that and it obviously has not put you off so that is a good thing and you will get it back in the end if you haven't already. Cheers.