What are the biggest mistakes you've done with Bitcoin?

[wildan88]

This is quite strange, I also do not know initially why it could happen. When I will send bitcoin, but the bitcoin address suddenly changed, I wasn't aware of it and finally I lost about 0.2BTC and After it I reinstall my computer and more carefully when I will send bitcoin.

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[Idrisu]

As the topic says, What are the biggest mistakes you've done with Bitcoin?

I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such.
I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already.

I will post everything I find on this very simple website:
http://sites.google.com/site/whoissatoshi/bitcoin-mistakes


Don't be shy!


EDIT: Please add some context, interesting details etc to make it a nice story.

One of the biggest mistake I did when I come across bitcoin is slow to take decision for investment because at that bitcoin is less than  100 dollars. I am regretting now because if I investment a 100 dollars then it could be around 1230 dollars today. Another big mistake is thinking I can be rich in bitcoin through faucet.

[fitty]

When I knew bitcoin earlier , I'm being introduce with investment site but with fun theme named  golden cow
I'm decide to invest 0.05 since I saw many positive feedback for the site . Before I'm able to ROI , the site is scamming !
It's hard lesson for me to more carefull about investation !

Yeah I feel you Bro! Way back when I am starting into Bitcoin I was also in a situation like you. I was once fun of investing to cloud mining sites. Hashocean to be exact. I am enchanted because they have so many positive feedbacks and testimonies of earnings and ROI. I invested to that and I was able to get the ROI. Because of that I reinvested it all. And Boom! The site becomes a scam. From that, I learned how to be aware of that kind of scam investment.

I believe that was the biggest mistake I've made in Bitcoin.

[DoublerHunter]

The biggest mistake that i've ever done with bitcoin is when i invest all my bitcoin in a hyip site but that is nothing for me now because that was just 0.5 and the price on that time was only 500$+ so i don't think it is a big loss because i already learned the lesson of managing my bitcoins and i already know where to invest my bitcoins and not into hyip sites.

[Soul Reaper]

My journey with bitcoin  has been very versatile.
I have gained as well as lost .
Some big mistakes that I committed with bitcoins are-
1) I immediately sold them in exchange of Fiat.
  Now I see how it's cost has risen.
So now I regret.
2) I wasted many bitcoins on steam and xbox store.
Then I didn't realise it's value ,
And I used it heavily basically for gaming.
3) I tried to mine bitcoin in my laptop.
It was an ultimate failure.
My system got heated up badly, and used up a lot of electricity,
More over I could earn only 150 Satoshi .

[requester]

wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds

[Blitzboy]

Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much.

Yeah, I've been there too, as I was so mesmerised by those attractive sites with high chances of winning and big outcome. And so I spent most of my time dying in gambling instead of doing something useful, and the more I gamble, the more I get addicted to it and can't get rid of it. It's not until my friend gave me some advice persuading me that I fully got out of it and start doing right all over again.

[Qunenin]

wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds

I guess this is one of everyones mistake who can afford to buy good amount of btc last year and just ignore buying.
Because even me that was my regret, it was doubled and tripled price compared to previous years we had. And now more than $1000, just a big sigh now for that regret.

[HanSchultz]

wish i had invest $1000 last year then now i would be the owner of 2 btc which is equivalent to INR 160000 Now. and that would further lift my financial status even higher and finally making me rich among my frineds

For that to happen you have to invent a time machine to go back.You really cannot do anything about it.People should understand that it was a known fact that the price would increase after halving and it was a common practice and i am sure many made their fortune by picking up coins when we could and the mistake i did was i sold off when the price touched $1000 and couldn't get back.

[JanpriX]

As the topic says, What are the biggest mistakes you've done with Bitcoin?

I'm trying to gather just a list on things that have gone wrong. This can be terrible backup stories, client hacks, reversing at MtGox and such.
I don't want to gather a list of hacks of commercial sites in particular because there are plenty of information on that already.

I will post everything I find on this very simple website:
http://sites.google.com/site/whoissatoshi/bitcoin-mistakes


Don't be shy!


EDIT: Please add some context, interesting details etc to make it a nice story.

One of the biggest mistakes that I've ever done involving BTC in my life would be uninstalling a wallet app from my android device without backing it up. My bitcoin just vanished from thin air because of my stupidity and lack of knowledge. That happened when I was still studying that basic knowledge of BTC. That will never happen again. LOL

[Pettuh4]

I lost 0.5 BTC to gambling last December while I could have shopped with it. It was greed I thought I could double it through sports betting and I lost it in just an hour and thirty minutes. The scar is still deep within my heart.

[Daniel91]

Honestly, my biggest mistake with bitcoin is that I joined to late.
I had opportunity to join a year or two earlier but was skeptic and missed great opportunity to collect many bitcoin for only $ 200 or so.
When I see today's price of bitcoin, I feel sad.
It's school, I guess.

[TopherB]

Because my fellow libertarians were speaking of this as the next big thing I bought $50 worth of btc when they were in the 70 cent range. I didn't think anything of it I was just supporting cause as I had many of my fellowman's causes. Being the organized person I am and not really comprehending the concept I lost the wallet most likely instantly.

While I'm certain I would have sold in the pre $100 range I still look wistfully at that illusionary $70-80,000.   

[Bibite]

the biggest mistakes I've done with Bitcoin is simply spendig all when it was cheap years ago ! Why the fuck i have not keep at least 10 bitcoins.. It could help me a lot  now in 2017. Over 11k USD is like 10 months working full time like a slave

[pearnapple]

Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much.

yeah gambling is a huge problem for a lot of people in a bitcoin world and it is one of the most horrible addictions in the world. My biggest mistake is that I tried doing some trading with it, it was really unsuccessful and not that I did not make any bitcoins, I actually managed to lose money with that thing.

the biggest mistakes I've done with Bitcoin is simply spendig all when it was cheap years ago ! Why the fuck i have not keep at least 10 bitcoins.. It could help me a lot  now in 2017. Over 11k USD is like 10 months working full time like a slave

yeah, if you want to have a lot of profit out of it you should just hold your bitcoins, but for bitcoin itself it is better that you would use it all the time.

[pinkpanther03]

Losing big amount in gambling. Often used to make decisions of spending little on gambling events. If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much.

The biggest mistakes I've done with bitcoin is when I didn't buy it when bitcoin was 800$ something, it was really regrettable to me why I didn't listen to my friend. That's why every time i can buy bitcoin, I do it most of of the time.

[el kaka22]

Losing big amount in gambling. Often used to make decisions of spending little on gambling events.

Not just you, probably more than 50% of bitcoiners would have experience some bitter days with gambling. Some of them will mark those as their biggest mistakes. Because out of greedy no one will control themselves from gambling and thus from gambling mistakes. If we are not experienced gambling after knowing bitcoin that must be a very big achievement imho.

If loss is experienced at the beginning gradually to earn the lost amount used to increase the betting amount. In such manner lost much.

In near past when I just earned a few I have waste a lot of the at different sites having not enough knowledge and in search to make it more and more but this is very helpful for me and taught me a lot of things now I am pretty much experienced and have a lot of knowledge about all the sites on the internet associated with bitcoins.

[jovs]

Gamble about 150 BTC away around 5-10 dollar range.

Next biggest was to sell most of my coins on the way back up @ $26.

Yes one of the biggest mistake you could doon bitcoin is on gambling all your bitcoin . Because a faster way to earn is too tempting not to try so many people fall to do such things. Me personally do gamling before ,because i knew that in gambling you can earn more or even double earnings in a short period of time. But the day will come that you will realize that gambling is not worth it and you will stoo gambling .

[sj2199]

There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling.

[hurain]

There are many mistakes that I did with bitcoin in the past as when I was new to bitcoin I sent my bitcoins to wrong address and other mistake was using my bitcoins in gambling where most of the times I lost my money and loosing in gambling is still going on and god knows when I will quit gambling.

yes i also done different mistakes in different time. in resent time i sell some of my bitcoin in 1000 USD price and now i am regretting that i have made a big mistake.