Buying Bitcoin was a worst decision of my life

[yayayo]

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.

That provides further support for my hypothesis, that the most aggressive proponents of the Hearndresen-altcoin and bigger-blocks-no-matter-how suffer from investing too much during the last bubble and are now desperately supporting any measure that might lead to a quick increase in the fiat value of their holdings.

So my prediction is that once the Bitcoin/fiat-exchange ratio rises despite the failed hostile fork attempt, these people will become more reasonable in judgement, because they will no longer be under the influence of big unrealized losses.

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.

Stopping to lie to oneself is the first step in becoming a successful investor.

ya.ya.yo!

[RodeoX]

I have never bought weed with my coins...

Me either.
People who are not bitcoin users always think that it is for weed and guns on the "darknet". They just pick the use case that is most shocking and go with that. No one ever talks about how I buy socks with my bitcoin, but I do.

[RealBitcoin]

I have never bought weed with my coins...

Me either.
People who are not bitcoin users always think that it is for weed and guns on the "darknet". They just pick the use case that is most shocking and go with that. No one ever talks about how I buy socks with my bitcoin, but I do.

Apart from that bitcoin's 2 most widely legal use would be: gambling & porn.

I think we need a PR team to emphasize on that, otherwise the media will demonize bitcoin further.

[RodeoX]

I have never bought weed with my coins...

Me either.
People who are not bitcoin users always think that it is for weed and guns on the "darknet". They just pick the use case that is most shocking and go with that. No one ever talks about how I buy socks with my bitcoin, but I do.

Apart from that bitcoin's 2 most widely legal use would be: gambling & porn.

I think we need a PR team to emphasize on that, otherwise the media will demonize bitcoin further.

lol, Since it is an obvious use case that may well be true. But I have never bought those either. I buy the same stuff I used to buy with a credit card. The last things I bought were kitchen cabinet pulls and a camera bag. Not very interesting compared to drugs, porn, and gambling.

[LFC_Bitcoin]

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've never sold anything, I'm a long term HODLER. If you add up what I've spent from the very beginning of my investment then I'm down but I haven't sold anything so technically I've lost nothing.

You need to have patience, money doesn't often come easily. You need to work hard for it or in this case have a lot of patience.

What if bitcoin goes to 5-10k USD in 10-15 years & you look back to the point you gave up?
If you have to sell some then do it, but don't sell everything because you may seriously regret it.

[ashour]

You should have not invested more money than you could lose. You should had gotten more information about   bitcoin so you could predict that the price would fall.

[BitAddict]

Well, if you look to any other bubble in any kind of investment, even the stock market, it is completely normal to lose -50% if you invest at the wrong time.

[mayax]

Well, as any investment, it may go down. BTC is a very volatile "thing/e-currency" and you should not invest what you are not prepared to lose(old quote)

You lost. That's it. Move forward. There are many other places where you can invest. Learn the lesson and move...
I know people who lost over 200K when MTgox went down. I mean, they bought BTC with "cash"(bank wire) with X amount and the price went down  and they had X-50% in a matter of one day.

[BADecker]

Thank you for the encouragement. I think I'm going to buy a little more in a couple of weeks.

 

[mayax]

Thank you for the encouragement. I think I'm going to buy a little more in a couple of weeks.

 

everybody makes what they with their cash

good luck !  

[Flyskyhigh]

Buy Mintcoin it is set to replace Bitcoin soon.

[dothebeats]

Just another burnt investor who didn't made some money out of bitcoin, probably because op kept on buying when the price is rising. No, I don't and I won't consider bitcoin as a worst decision, specifically because I started with none and just bought coins during their lows. Whatever happened to your money is your fault, not bitcoin's. No one promised you that you'll get steady income out of it; it's your decision to buy it.

[Kakmakr]

I also bought some coins when the price was high. +/- $400 Since then the price averaged around $200 - $250. I then saw this trend and bought when the price dropped to $200 and sold when it reached $250 < My profit = $50 give or take a couple of fees > So my loss is now less and I can once again buy when the price goes to $200 again, and repeat the process until I have made up my losses on the first $400 purchase.

Or I can wait until it reach $400 or $500 or $800 for that matter, but I chose to reduce my loss and to increase my profit. You have this option, wait or re-invest and work away the loss until you return your investment or possibly double it. 

[JeWay]

Seriously, buying Bitcoin is the worst decision?
I think no, the worst decision is when you buy a Bitcoin when the price is high.
But if you buy it when the price goes down, I believe you'll happy with it.

[danherbias07]

I haven't buy a bitcoin yet so I dont know how this feels. But how about starting again and for now no more buying just earning.

That way even if you use that bitcoin you will feel that it is yours. Your money that have been paid for hard work.

[doublemore]

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.

Nobody is forcing you to be here OP nobody is forcing you to use bitcoin.  I smell fear from you and others.... bitcoin is in place for taking over significant parts of the world economy in the future.

[mcplums]

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.

I'm with you there buddy. Feels like I'm buying winning lottery tickets.

If bitcoin -> moon, the intellectual satisfaction of being right when everyone around us (even many bitcoiners) thought we were crazy will be overwhelmingly awesome.

[mayax]

Seriously, buying Bitcoin is the worst decision?
I think no, the worst decision is when you buy a Bitcoin when the price is high.
But if you buy it when the price goes down, I believe you'll happy with it.

What does mean high and what does mean down?

Please define that. Thanks ! 

[pooya87]

Seriously, buying Bitcoin is the worst decision?
I think no, the worst decision is when you buy a Bitcoin when the price is high.
But if you buy it when the price goes down, I believe you'll happy with it.

What does mean high and what does mean down?

Please define that. Thanks ! 

it usually means that they have bought bitcoin when the price was "high" at $1000-1200 and everybody was hyped up and there were talking about moon and 10K per BTC

and held on until price was as ("down") low as $200 and sold with big losses and they are kicking themselves for their thought-less decisions

[mayax]

Seriously, buying Bitcoin is the worst decision?
I think no, the worst decision is when you buy a Bitcoin when the price is high.
But if you buy it when the price goes down, I believe you'll happy with it.

What does mean high and what does mean down?

Please define that. Thanks ! 

it usually means that they have bought bitcoin when the price was "high" at $1000-1200 and everybody was hyped up and there were talking about moon and 10K per BTC

and held on until price was as ("down") low as $200 and sold with big losses and they are kicking themselves for their thought-less decisions

I was referring to what does mean "high" or "down" in terms of price. How do you know when it's low or high?