Buying Bitcoin was a worst decision of my life

[toinew]

nobody should invest into something a few nerds (the developpers) have control over.
They could change the coins count to more than 21 millions, its just a number in the code.
The consensus ? consensus from who   , the consensus is biaised since a party owns the two main media of bitcoin.
Forget about it, bitcoin is too easily manipulated by MAN

[fuddudle]

Buy bitcoin at capitulation. Everybody think's they're geniuses buying the top.

[Kprawn]

So far I have lost more in credit card theft, than what I invested in Bitcoin. Same can be said for people using PayPal {charge backs} and other high risk investments. I cannot see

why OP says he lost 50% of his investment... Nobody knows where this might be going.. If you decide to hodl and the Bitcoin price sky rocket to the Moon, you would thank us for

the advice we {The cult} gave you today.  

[Towlie]

How many of you can admit that buying Bitcoin was a worst decision of your life? I can. I'm approximately -50% in fiat funds now.
Sooner or later some type of bank chain or coin will come and gain mass adoption - while bitcoin still remaining a geek coin
to buy weed.
I know this forum is more like a cult than a information channel what comes to honest opinions but I know there's others
on this forum who feel the same, almost all of us. Don't let your cult believer ego come in the way.

The idea that Bitcoin is going to be used as a currency instead of the investment tool or storage of wealth that all of wallstreet is flooding dollars into may not be the best thinking.

Why can it not be used as both? A currency whos value rises over time like a defaltionary currency should would be a great thing for everyone.

[Ceizer54]

It depends,i never bought bitcoin so i can't say but i do know that if you bought bitcoin when it was around 600$ to 1000$,then i can understand your situation and loss but the best thing you can do now is hold and hold till it again will cross 1000$ mark and believe me it will in the near future,may be next year during halving...Anyway's you should not buy bitcoin when you feel that way..Bitcoin is still investment and investment in anything involves risk..Don't do it if you can't take Risk

[OmegaStarScream]

How many of you can admit that buying Bitcoin was a worst decision of your life? I can. I'm approximately -50% in fiat funds now.
Sooner or later some type of bank chain or coin will come and gain mass adoption - while bitcoin still remaining a geek coin
to buy weed.
I know this forum is more like a cult than a information channel what comes to honest opinions but I know there's others
on this forum who feel the same, almost all of us. Don't let your cult believer ego come in the way.

Your never lose unless you start selling , that's the golden rule .
So you should keep them until the price goes up instead of selling them and if you bought them high and u wanted to re-sell then you should knwo that bitcoin is a long term investment and it doesn't work like that & to answer your question I like bitcoin and I never regret buying (even if I didn't buy that much) .

[chennan]

It depends,i never bought bitcoin so i can't say but i do know that if you bought bitcoin when it was around 600$ to 1000$,then i can understand your situation and loss but the best thing you can do now is hold and hold till it again will cross 1000$ mark and believe me it will in the near future,may be next year during halving...Anyway's you should not buy bitcoin when you feel that way..Bitcoin is still investment and investment in anything involves risk..Don't do it if you can't take Risk

I'm not quite so sure about the price rising due to the halvening... but there's another thread for that.  It's all up for speculation though, and if you don't see that bitcoins have no future... then I would just mainly suggest that you take your medicine and suck up the 50% of your investment you have left and just return using fiat for money.

[TheGr33k]

How many of you can admit that buying Bitcoin was a worst decision of your life? I can. I'm approximately -50% in fiat funds now.
Sooner or later some type of bank chain or coin will come and gain mass adoption - while bitcoin still remaining a geek coin
to buy weed.
I know this forum is more like a cult than a information channel what comes to honest opinions but I know there's others
on this forum who feel the same, almost all of us. Don't let your cult believer ego come in the way.

It sounds to me like you're someone who just recently got into bitcoin and you're bitter about not being able to reap the "early adopter" benefits.
You can't buy bitcoin with 50% of your fiat while it's peaking at 20x the highest price it's ever seen, obviously artificially inflated and then expect no market compensation ?

Of course there's going to be price compensation after 2000% price increase over a 1-week period.

[RodeoX]

Sorry to hear about your disappointment. Sounds like you made a classic bitcoin mistake and thought of it as an "investment" of some sort. Bitcoin is money and that is all. If you had bought some then spent it in a purchase, you would have seen that bitcoin is the fastest, safest, and cheapest way to send money. The idea of using it as investment vehicle was never part of the white paper and, while you can treat it as an investment, it is very poor choice.

Again bitcoin is money. If you gamble it away, lose it without backing up, join a scam, or lose it investing; that is not a bitcoin problem. Just spend it and you will see what all the talk is about.

[Denker]

How many of you can admit that buying Bitcoin was a worst decision of your life? I can. I'm approximately -50% in fiat funds now.
Sooner or later some type of bank chain or coin will come and gain mass adoption - while bitcoin still remaining a geek coin
to buy weed.
I know this forum is more like a cult than a information channel what comes to honest opinions but I know there's others
on this forum who feel the same, almost all of us. Don't let your cult believer ego come in the way.

Wow! I suggest you quit whining and take the situation how it is.I know guys who bought over 20 bitcoins when price was around $800.They don't cry. And they still have their coins.Because they really believe in the success and wanna wait for breakthrough.
If you can not handle your situation better sell your stash and leave the Bitcoin scene. In 5 years when price is higher 4000 digits do me a favour and don't come here and tell us it was your worst decision of your life to sell your coins.
Man up buddy! Others are having hard times as well. Make a decision and live with it.

[minifrij]

Previously when Bitcoin was around $1000 per coin I spent about $70 on 0.07BTC. I lost out significantly due to exchange prices, however I do not regret it.
Why? That $70 was spent on something I was interested in and made me happy. Currently, I don't care about money enough to consider that a loss.

[TheGr33k]

Previously when Bitcoin was around $1000 per coin I spent about $70 on 0.07BTC. I lost out significantly due to exchange prices, however I do not regret it.
Why? That $70 was spent on something I was interested in and made me happy. Currently, I don't care about money enough to consider that a loss.

This is exactly my point, if you are holding bitcoins to make a profit and you wait until they're at their peak to purchase them.. That's just slow and selfish.
Rather you should purchase bitcoins as you have the ability to, or if you'd like to purchase something that would be entertaining/pleasing to yourself.

You either should buy and hold bitcoin because you love it and have faith in the future of it, or you should be using it freely and actively.
Never dump most of your net-worth into something you're uneducated in OP

[Hellacopter]

How many of you can admit that buying Bitcoin was a worst decision of your life? I can. I'm approximately -50% in fiat funds now.
Sooner or later some type of bank chain or coin will come and gain mass adoption - while bitcoin still remaining a geek coin
to buy weed.
I know this forum is more like a cult than a information channel what comes to honest opinions but I know there's others
on this forum who feel the same, almost all of us. Don't let your cult believer ego come in the way.

Sorry that buying Bitcoin doesn't work for you, but you haven't to generalize your problem , the things works depending in the prices, and the prices are variable , get up and down every second, and no one can guess exactly the coming prices , so you can hold your Bitcoin and wait for the right moment to sell it if you like

[jonald_fyookball]

I paid too much for my BTC, and I'm sitting on an unrealized loss, but I'm planning to hodl for a looooooong time.

I never bought BTC looking for a short term profit.  I bought it because of a long term vision and I wasn't
going to miss out on a once in a lifetime opportunity, even if it meant overpaying. 

I'm fine with it.

Sounds like you are upset in your investment decision, but if you bought it for the short term, you should
not have let it go against you 50%.  And if you bought it for the long term, you should be holding and
not worrying about it.

[hunnaryb]

I think if you buy now, in the medium to long term you will probably do just fine.

[CoinBateman]

I think if you buy now, in the medium to long term you will probably do just fine.

Things can get alot worse before they get better.. But you're probably right.

[lite]

I don't think that buying Bitcoins was/is worst decision of my life, i've invested only small amount of money though and have earned a few.
OP add a poll maybe lol

[leex1528]

You aren't the only one.  I luckily did not purchase any coins back then.  I figured the price was jumped up and it wasn't quite real.  Unfortunately you only have a couple options now.  You can wait it out and keep those coins in storage and hope for a positive return.  Or you can sell and cut your losses.  Either way you are gambling.

[exstasie]

The real question is - do you think bitcoin will go up in value in the future? If so, you should "double down" and drop your cost to a level that you can break even on faster.

While this suggestion may be correct at this point in time.... remember that those who followed this advice in 2014 (and it was indeed very common advice) exacerbated their bad investment position. They are now much worse off.

[Mickeyb]

You aren't the only one.  I luckily did not purchase any coins back then.  I figured the price was jumped up and it wasn't quite real.  Unfortunately you only have a couple options now.  You can wait it out and keep those coins in storage and hope for a positive return.  Or you can sell and cut your losses.  Either way you are gambling.

I would just wait it out. It sucks to wake up every morning with that bad taste in your mouth, but imagine if OP sells it for a loss, and in 6 months the price skyrockets to a $1,000 again.

I would rather lose all of my investment then sell to cut my loses at the moment and then live with another bad taste in my mouth if one day Bitcoin makes a run again.