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Author Topic: What are the biggest mistakes you've done with Bitcoin?  (Read 17336 times)
papa_snurf
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April 10, 2013, 04:11:45 PM
 #101

I did not buy enough  Roll Eyes
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deathcode
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April 11, 2013, 04:09:14 PM
 #102

Not selling at $266... Smiley

gollum
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In Hashrate We Trust!


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April 11, 2013, 05:14:06 PM
 #103

Not shorting at 266$ @ www.icbit.se
ThorinIceland
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April 11, 2013, 05:19:26 PM
 #104

Pre-Ordering bASIC's. Lost nearly $100,000.

Ouch, that stings, my sympathies man.
glendall
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April 11, 2013, 08:06:58 PM
 #105

Getting into mining in late 2010 or so.........for a few days.

What a dumb move in hindsight. Generally leave my PC on all the time,  and had also had a GTX 280 at the time. If I just hit the damn 'start' button before I went to bed at night, could have made a pretty bitcoin.

sedeki
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April 11, 2013, 08:30:02 PM
 #106

OK guys, updated the List of Wisdom.
Please take a look at the page labeled "Bitcoin Business Wishlist" while you're at it, I updated that too.

Leave a message on there or PM me if anything is unclear.


Again, the URL to Bitcoin mistakes: https://sites.google.com/site/whoissatoshi/bitcoin-mistakes
tclo
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April 11, 2013, 10:13:10 PM
 #107

Not shorting at 266$ @ www.icbit.se

Yes and you know a lot of people did just that and are laughing now (and rolling around in their pile of money). 
malevolent
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April 17, 2013, 07:21:50 AM
 #108

Pre-Ordering bASIC's. Lost nearly $100,000.

You have paid in Bitcoins and it is the value of BTC after the price increase?
ivanc
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April 17, 2013, 12:29:22 PM
 #109

I used Bitcoin 24 (who was the largest exchange for EUR at the time) and had 45,000 EUR worth of BTC + fiat on it. Withdrawals were taking too long.
Then I learnt that it was a single person operation and the owner is a german DJ. Then I found what he posted on stackoverflow, especially this gem: http://stackoverflow.com/questions/15026825/php-mysql-how-to-prevent-two-requests-update

Still waiting for my BTC + fiat, not much hope though as you can expect Smiley
Herodes
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April 17, 2013, 12:40:08 PM
 #110

i sent 4.4 btc to the wrong person. after some detective work, i found the phone number of his mother and called her, luckily he was present and returned the coins without any issues.
Birdy
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April 17, 2013, 12:47:48 PM
 #111

Not buying some when I first heard about them.
Tried mining on my normal PC back then, it didn't create coins after a whole day.
Yes, I thought mining them was the big deal and didn't know anything about the 21 mio limit and so on.

-> If I had spent like a day more reading about it, I would have spent a small sum (I guess that would have gained me ~100 BTC).
Bitconian
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April 17, 2013, 06:56:09 PM
 #112

Lost a lot of money

I bought $10,000 when it was at $233

freaked out when it hit $50, and sold everything.


Now it's at $90 Sad

You can make me smile Smiley
1GEUEBTm6XfRuqAswrR6LbofnMq6VN5A5P
chronocoin
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Chronocoin: Buy anything for Bitcoin - Ships 2day!


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April 17, 2013, 07:10:17 PM
 #113

Not being Satoshi

Chronocoin: Buy anything for Bitcoin - Ships 2day!
pangu
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April 17, 2013, 08:28:07 PM
 #114

Not having startet with bitcoin a few month/years ago.. Wink

glendall
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April 17, 2013, 08:42:57 PM
 #115

Stopping my bitcoin miners back in 2010 because of a port conflict with Vmware. 


Oh god man Sad    This one would drive me to the bottle !
Peleus
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April 17, 2013, 09:41:17 PM
 #116

Pulling out my buy order @ $55 because I thought it would be dropping lower.
charliec
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April 17, 2013, 09:54:15 PM
 #117

First biggest mistake:

In June 2011, I was extremely excited to get involved with bitcoin.  I read up on it for several days. 

Posted my "newbie" post.  (which was "Charlie here. Fascinated by this concept.  Like any other latecomer, wishing I had looked into this last year when I first heard about it. Oh well. 

I see HUGE potential still as legitimacy and credibility further develops over time.")

Bought $100 in bitcoins a couple days later.  Left them on mybitcoin overnight.  Woke up to no bitcoins.

Was so soured by that experience that I stopped paying any attention.

Second biggest mistake:

Started checking "bitcoinwatch.com" again in January (mainly because I quit reddit.com cold turkey... so needed some other sites to check!)  Watched as prices slowly started to go up.  Each day a little more, then each day a LOT more.

Finally got back in just ahead of the big spike.  Glad I did!  (Just wish it was sooner!)
Paul89273
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April 17, 2013, 10:25:45 PM
 #118


3.) Not selling a single coin in the 2011 bubble.
To buy back at lower prices. Hmm, this one seems to remind me of something............

I can just imagine a this post in six months with people say "If *only* I sold at $134!!" with the price being ~$10 Cheesy

Do you guys think the Bitcoin price is in a bubble atm, what price do you think it'll settle at in 6 months?

Have a few more questions, great thread BTW some great stories in here.

Do you guys trust Mt Gox? How many times have they been hacked in total? Is any exchange with 2 step verification secure?

Does anyone have any experiences with Bitcoin.de the german site and what are your experiences with them?

I'm very new to all this, only been reading up on it this past month. My biggest regret so far is not trusting my gut instinct, the other day when bitcoin went down to around $50 I was thinking about buying in big but decided not to, wish I had of road that wave up to $90 and sold. I still think the best strategy is to buy and hold assuming you buy in the dips.

I think things are going to get more difficult as more bankers, hedge funds and HTFers get involved in trading Bitcoins. Shame really because it defeats the original purpose of Bitcoins BUT with some of the new sites for shorting trades etc it may bring more stability to the system in the long run.
QuestionAuthority
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April 17, 2013, 11:06:47 PM
 #119

Bought cupcakes at a store in San Fran one afternoon and put them in the fridge only to wake up the next morning and check the exchange rate to find out my cupcakes were now worth $25 each. Crap!

MegaBrutal
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April 17, 2013, 11:24:28 PM
 #120

I've sent all my funds from Mt.Gox to Bitcoin-24.com, just a few hours before it got closed.
I still believe that ~11,5 BTC would have been the start of a brighter future of mine. Cry

BTC: 18nAftZTnH4LjY9fPPow1aF5tGD1JiF7ZH
LTC: LV9MiA3iPVUm8qRFYbLkARuoYwvmHwhWaC

Buy some Negro candies!
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