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

[kidoseagle0312]

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.

The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$.

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[Ayiranorea]

As a newbie I was not much aware of wallet and the features along with the same. So the weaker security made me lose small portion of my bought bitcoin.

[jamieb81]

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.

The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$.

That's the same mistake most of us did by selling our bitcoin for lesser price then later regretting about it and i have seen two type of people one those newbie who sell all their bitcoin once there is a drop in the price and the other ones are those who sell all their saved bitcoin once the price reaches at peak assuming that it might crash down anytime.

[Zadicar]

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.

The biggest mistakes I've ever made was, when I sell all my bitcoin at 800$, which I shouldn't do it, it was so very regrettable because look at the price now almost 1251$ and worst in my part its getting more higher in the coming weeks. So now I'm starting again to buy bitcoin little by little and I won't sell it until it didn't reach 5000$.

That's the same mistake most of us did by selling our bitcoin for lesser price then later regretting about it and i have seen two type of people one those newbie who sell all their bitcoin once there is a drop in the price and the other ones are those who sell all their saved bitcoin once the price reaches at peak assuming that it might crash down anytime.

We did the same mistake i do really strongly believe on that.It cant really be avoided since as a human we do really panic when we do see the price of bitcoin goes down and we would really panic specially when we dont have enough knowledge on bitcoins movements and other stuffs and as you said regretting would really happen on the end but still we do learn on those mistakes.

[Dudeperfect]

Sorry but I don't have a decent story to tell. I think my (second) biggest mistake was wasting time in faucets and gambling. I feel fortunate that I stopped using faucets and gambling sites because I realised that it was mere the waste of time and nothing more than that. The first mistake is obviously not popping in early, but still, I believe that bitcoin is still in its early phase and we are early adapters.

[rajasumi3]

i dont have a terrible story to tell.
but selling those bitcoins at the price which is much lower than it is now. this is the biggest mistake i have done till now.

[carriebee]

The biggest mistakes so far Ive done with bitcoin is eager to sell the btc when I had before when the price is cheaper.  The eagerness to sell when I have it, I didnt think twice that btc price will rise more than $1000. Also, I regret when I was addicted into gambling before that I wasted much my bitcoin and lose a lot. So, I thanked this forum when I knew I can earn here.

[seven4smoke]

The biggest mistakes so far Ive done with bitcoin is eager to sell the btc when I had before when the price is cheaper.  The eagerness to sell when I have it, I didnt think twice that btc price will rise more than $1000. Also, I regret when I was addicted into gambling before that I wasted much my bitcoin and lose a lot. So, I thanked this forum when I knew I can earn here.

These are good words for those who still believe that thanks to gambling you can get rich or win a lot of bitcoins. It's not true. The user still for all the time that he plays gambling, spends a lot more than he wins.

[Rabber]

Ignoring when someone told me about bitcoin when it was around a few dollars and not buying enough when it was at a couple hundred.

[emezh10]

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!

My greatest mistakes:

1) Did not buy any when it still was cheap arount 5$

2) Did not buy any when it was rallying over 10$

3) Did not buy any when it was rallying over old ATH 32$

and so on...

So I will prepare for the next dip - I will fund my Mt Gox account and buy lots of coins if and when we get 20-30$

There are many mistakes I experienced in using bitcoins but there is one is unforgetable for me. When I was starting in bitcoin I used to gamble to gain earnings. When I have a capital of 0.00005, I used it and then grow for about 0.001 and then when I got sleep I didn't recognized that I was lose real quick. And then when I play gambling I sure that I won't lose again.

[Watercooler]

The biggest mistake I made with bitcoins is not getting in earlier in the game, but better late then never It's still early enough to make some profits

[AIGADS]

 :)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.

[iamTom123]

I am amazed that this thread was posted originally in 2013. Since I started in Bitcoin, I learned many things. One is that selling while Bitcoin is going down can be a big mistake because eventually Bitcoin will rebound back. Just a week ago I lost a little because I converted my Bitcoin into the local currency...just when it was apparent that the value is going down and down but look at Bitcoin now...after some days it is stabilizing at 1K+ level. Oh well...

[STT]

> Cryptostocks has been taken offline as previously announced on 20.12.2016. If you still have funds residing on the platform then please contact customerservice@cryptostocks.com to arrange the withdrawal. Take note that the withdrawal will incur a fee of 0.1 BTC.

This is one of the biggest mistakes I made which to rely one site admin to be reasonable in handling small investments.    His logic is, Im not stealing your deposits I just havent adjusted my costs for several years and so its just too bad if I'm now asking $1,000 just to return your own money back to you.


https://en.bitcoin.it/wiki/Crypto::Stocks


Bitcoin is decentralised but the sites you visit and use with it are very much not in most cases.   

[crypto4lambo]

My biggest mistake with regards to Bitcoin so far is selling it too early. I panicked and sell my holding immediately when Bitcoin dips. I let my emotion take over my trading plan. I really regret it whenever I see Bitcoin hits ATH. I was very upset with what I act and I don't have anything to do with it. I just make it as a learning curve and see to it that whenever I have plan, I really need to execute it no matter what unless there is something that requires it to be amended. Bitcoin is a great investment specially for long term and no one can doubt about it. Have trust in cryptocurrency and you can have a great return of investment.

[kenjay11]

I'm new to the bitcoin world so my experience with bitcoin is not as much. October this year when I joined bitcoin and I'm here in bitcoin for almost three months. And in those three months I have not had the biggest mistake that I have done in bitcoin, and I hope I can not make a mistake here in bitcoin.

[LETme]

As of now i do not have any bitcoin my biggest mistake is not knowing bitcoin for so many years. As a beginner i should know my prioritise and make a good decision.

[wel24]

My biggest mistake that ive done with bitcoin is that im not giving btcoin or show dedication to engaged and support when its value is little low.Everytime theres a bitcoin coming into my wallet i have converted it into my own currency how sad.If i know that the future of bitcoin is bright since the first day i know it maybe am a millionaire now.Lesson learned that we have to be patient and dedicated to the path we want to go througj learn how to be patience and faithful.

[jrrigs]

Spent a considerable amount of bitcoin on 3 revshare sites last year. Almost had my seed money back but the lure of internal compounding resulted in me just getting around 10% of what I initially put in before the sites closed.

[Karmakid]

The biggest mistake that I made in bitcoin was investing in a HYIP site ,
Then right after I sent my bitcoin found out that it was just a scam site and not really going to pay you .