Buying Bitcoin was a worst decision of my life

[RussianRaibow]

Have you considered doubling down and bitcoin cost averaging your position? You said you're down 50%, you could lower that percentage by buying bitcoin now at the 50% discount. Here's some math to help you think it through...

Hypothetical Initial Purchase: 2 bitcoins at $500 each (since you said you're down 50% right now).

Additional Purchase Option 1): Buy 2 more bitcoins at $245, total cost of your position of 4 bitcoins is $1490 and your total cost per 'coin drops to $372.50.

Additional Purchase Option 2): Buy 4 more bitcoins at $245, total cost of your position of 6 bitcoins is $1980 and your total cost per 'coin drops to $330.

Additional Purchase Option 3): Buy 10 more bitcoins at $245, total cost of your position of 12 bitcoins is $3450 and your total cost per 'coin drops to $287.50.

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.

Only a trader will understand what you said. No point in saying this to a get rich quick kid.

[bitbaby]

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.

I absolutely don't think that it was a bad decision at all and I think you must have bought it because you saw the early adopters make some nice money and you thought this would be another get rich scheme and it didn't work out. For me it's a great new technology and being a part of it is a privilege, I have bought before and if my pocket allows me and I will buy again in future but I am not going to ask you to change your mind, it's your money, do whatever you wish to, like I am doing with mine. Who's right/wrong, the future will tell.

[meono]

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.

This alone says all about you.

Reason you jumped on this is so you want to get rich quick. You're just clueless about monetary and fundamentals.


Btw, you're already using bank coins , idiot

[BTChaintrader]

I think that Bitcoin should be bought only if you are prepared to hold on it for the next 5-7 years.

[btcxyzzz]

Every time I add to my Bitcoin stash I feel like it is one of the very best decision I can make in my life.

+1. The most important technology after invention of Internet, that has huge financial and social implications can't fail. There's first-mover advantage. Be patient, when this fake fairy fiat tale starts to fall apart, that's when Bitcoin will really start to shine. 10K USD/BTC is most few years away IMO.

[Eodguy149]

There's so many ways to respond to this. I don't think purchasing Bitcoin was the worst decision of my life. The worst decision was not buying in when it was $40 a coin. You haven't lost any money until you cash out honestly, if you're already that far down I would just ride it out. This only applies if you followed the first rule of investing in a highly speculative asset: don't invest more than you can afford to lose. I treat my coins like lottery tickets. It could be my ticket to retirement, or end up in the trash, only time will tell.

[Furio]

Considering I've been intelligent and bought and will continue to stash up coins at the lows no I don't consider it the worst decision of my life, the problem is so many idiots went and bought into the rise without first waiting to see what would happen and if it would stabalise.

Now all your profits are belong to me

Now ALL your profits belong to me..... sigh, why so happy about someone else his misfortune, also, ALL your profits, we're talking to a regular miljonair over here 

[n2004al]

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.

I understand your situation. Or at least I can understand someone who wanted to earn doing in investment and seeing that the investment did not go in the desired way. I had such situation in my life. Fortunately I bought my bitcoins (all those which have bought) at a better price like that the actual and I am about +50% in profit if I sell those in this moment. So my words would be misinterpreted by you. We are not in the same situation and you can tell that my below words are told because I am in profit. Anyhow I will tell those.

You are in loss. But you will feel better for sure if, at the same time, you will have FAITH. Faith in bitcoin as the first and the best known materialization of the disruptive technology peer to peer from which was invented. This technology is attracting day by day the attention of the best scientist of the world and even the attention of important Governments and Monetary Authorities such USA, England, Russia etc. which want to use it. I can give links with articles which testify that these countries are studying this technology with the aim to use it. Or you can find those yourself doing a simple search in internet with google.

The faith will help you to believe in more better situation of bitcoin.

The technology and the big and increasing interest about it will give you the hope that it will not leave that its "first child" go in vain.

Believing and hoping you will find yourself in a totally different situation. At least you will not think more that the bought of your bitcoins was not the worst decision of your life.

Forget your bitcoins in their wallet, wait, believe and hope and maybe the bought of bitcoins one day will become the best decision of your life.

[hunnaryb]

Lets see , bitcoin fundamentals have only got better over time, and yet price has fallen until the beginning of this year where we have entered a long side ways channel. I think now if ever is the best time to buy if you're investing.

Secondly, investing shouldn't be about looking at short term gains, if that were the case, you would have cut your losses or hedged your way down.

[spazzdla]

Why would you buy without the ability to hold for +10 years..

[1Referee]

To me Bitcoin is the best investment of my life. In the years I have traded Bitcoin it made me a good profit. I used to trade stocks and that gave me around 10% profit per year. Bitcoin trading made me this current year already around 60% profit, and the year isn't over yet.

[Q7]

I got myself involved in bitcoin not because I look upon it as a quick way to make big bucks or to treat it as any form of investment, but more towards a hobby. What got me attracted in the first place is perhaps because it is free from being controlled by banks or anyone else for that matter. And if you are thinking towards that direction, I think things will sure turn out different.

[UserVVIP]

Buddy, just wait until the halfing.

The price will most likely rise during that time and you will make your money back plus some extra.

[neoneros]

I have never bought weed with my coins, never bought weed period, though it is freely available here.
For my Coins I did not spend any fiat. Did buy me some pizza and whisky with my hard earned coins.

Stepping into an investment a bit too late and ill informed is always a big mistake. You cannot blame bitcoin for that. Bitcoin is not just for investing and HODLing. It is the basis of the cryptocurrency revolution. You have invested in that, you brought change to the world, so be happy with that idea in mind!

[Pursuer]

I have tried not to put so much of my money (fiat) into bitcoin so far and I have only earned my coins through doing different jobs and investments. but one thing is for sure and that is I am not regretting my decision of entering bitcoin and putting my precious time on it.

it has ups and downs and it is an early technology, that's right but it also has lots of potential and room to grow so I see a bright future for my decision.

[Yerm]

buying bitcoin was a pretty good decision for me, actually ive been trading bitcoin for a while now and ive made about 0.3 bitcoins with trading

[johnyj]

Buy high and sell low is the way to ruin for any kind of investments, it has nothing to do with bitcoin

[Hugroll]

buying bitcoin was a pretty good decision for me, actually ive been trading bitcoin for a while now and ive made about 0.3 bitcoins with trading

i wanted to get into trading a while ago, but i just coudnt i had to watch the price around every hour to see if it went up. stressed out so much that i might lose money. it just wasnt for me. gratz on making a profit by trading tho, i imagine it mustve been hard

[DevSoft]

For me personally there are 0 negative effects using bitcoin, including buying them, and selling.

[codishmumu]

A cult....?

I must inform you that we bitcoiners do believe we are promoting a currency that is very efficient to the progression of financial freedom.