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Author Topic: Why I failed to make a fortune as an early bitcoin adopter?  (Read 26527 times)
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February 24, 2017, 02:47:25 AM
 #21

Is pre $100 considered an early adopters then? I'm not sure what the consensus is on the time frame. Either way I don't think I'll be lumped into that category because I started using bitcoins in 2015.

I think it's pretty sad that a lot of early adopters didn't invest much or got scammed out of their coins. Reading about bitcoins before I used them helped me a lot but that was probably because I read up on what others had done wrong in the past. I'd suggest that to anyone getting into bitcoins now.














 

 

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February 24, 2017, 02:54:47 AM
 #22

I think it is a common misconception that all early adopters have gotten rich off bitcoin, there have been a few but i have also read many stories like the one in the OP over the years. People don't just get rich for being the first one through the door.

One of the oldest stories about an early adopter that is apparently btc broke now is laslo, he may have spent 10k btc on a couple of pizzas but he did get his 15min of fame out of it and will always be in the history books for being making the first recorded bitcoin purchase.

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February 24, 2017, 03:04:49 AM
 #23

I think it is a common misconception that all early adopters have gotten rich off bitcoin, there have been a few but i have also read many stories like the one in the OP over the years. People don't just get rich for being the first one through the door.

One of the oldest stories about an early adopter that is apparently btc broke now is laslo, he may have spent 10k btc on a couple of pizzas but he did get his 15min of fame out of it and will always be in the history books for being making the first recorded bitcoin purchase.
I cant really forget that 10k pizza guys on which this is really stuck on our minds or parts of the history regarding on the events that happens on bitcoin ecosystem and the feeling of regret cant really be removed to us but those early adopters didnt still expect that they would become rich because of bitcoin.

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February 24, 2017, 03:09:25 AM
 #24


I can relate to that, I too am an early adopter and saw bitcoin in the ~$60, I am not rich.

And I lost my coins in a lot of scams and made poorly trade decisions.

It sucks.

How I wish I'm in the one who is early adopter too, I think the reason is you already use your BTC in too many way  at that time the price of BTC is still cheaper and not expecting the price will go higher as now. you spent it all time base on your need and not savings some of it, because  you still believe you will easily have it again and not trusting too much in BTC

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February 24, 2017, 04:04:11 AM
 #25

Is pre $100 considered an early adopters then? I'm not sure what the consensus is on the time frame. Either way I don't think I'll be lumped into that category because I started using bitcoins in 2015.

I think it's pretty sad that a lot of early adopters didn't invest much or got scammed out of their coins. Reading about bitcoins before I used them helped me a lot but that was probably because I read up on what others had done wrong in the past. I'd suggest that to anyone getting into bitcoins now.


You mean now? even when it is @1200 USD?

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February 24, 2017, 04:05:48 AM
 #26

Do you want us to pity you OP? You haven't made a fortune, but you made money. You haven't said how much, but I expect working in that big Chinese company has brought you significant profits. You're probably dreaming of becoming a bitcoin millionaire, but if everyone could easily become one we'd be living in a world full of millionaires, dreaming of becoming multimillionaires.

Usually in Chinese startup, a co-founder get shares instead of money. If the startup dies, then no shares, no money.

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February 24, 2017, 04:13:38 AM
 #27

im not an early adopter but got in around 280 - 300 wish I would have bought more of these magical internet coins. lol
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February 24, 2017, 04:37:00 AM
 #28

Do you want us to pity you OP? You haven't made a fortune, but you made money. You haven't said how much, but I expect working in that big Chinese company has brought you significant profits. You're probably dreaming of becoming a bitcoin millionaire, but if everyone could easily become one we'd be living in a world full of millionaires, dreaming of becoming multimillionaires.

Lol if you only read the article, it was not the OP but rather he shared a story about a person who invested much in Bitcoin when it was at a very low price, have an insight that it will increase 10x in price but failed to earn from it. This somehow tell us some lesson as what was posted earlier than this comment.

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February 24, 2017, 04:44:03 AM
 #29

I was a newbie here in bitcoin. But as far as I know, it need a good mindset and wisdom to become successful in bitcoin.. There's no easy money. We need to pursue everything that we do. Never give up, failing doesnt mean you have to stop bitcoin. Try to be more sensitive in every transaction you do. I think those will help us to get a brighter future with bitcoin.
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February 24, 2017, 05:06:50 AM
 #30

I'm not an early adopter, but I did have some bitcoins prior to the ATH and after the ATH but I was poor on handling them and out of greed, I invested them some in HYIPs not knowing what they were before and some cloud mining sites due to my laziness. However, that downturn doesn't end my continuous struggle to earn more and profit more, that's why after I got a decent-paying job, I bought bitcoin every paycheck starting 2014 up until now. Currently holding 2-figures in btc and I consider myself a millionaire (due to its prices here in our country) but not that totally rich.

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February 24, 2017, 06:00:36 AM
 #31

Do you want us to pity you OP? You haven't made a fortune, but you made money. You haven't said how much, but I expect working in that big Chinese company has brought you significant profits. You're probably dreaming of becoming a bitcoin millionaire, but if everyone could easily become one we'd be living in a world full of millionaires, dreaming of becoming multimillionaires.

Lol if you only read the article, it was not the OP but rather he shared a story about a person who invested much in Bitcoin when it was at a very low price, have an insight that it will increase 10x in price but failed to earn from it. This somehow tell us some lesson as what was posted earlier than this comment.

That's right. Thanks for pointing out.

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February 24, 2017, 06:01:35 AM
 #32

I am always inspired by the story of the founder of KFC. Mr. Sanders was 65 and reliant on a $105-a-month Social Security check when he incorporated Kentucky Fried Chicken and began driving his 1946 Ford around the country signing up new franchisees. {Most people his age goes on pension at that age}

If you are down and out, you fight the hardest to come back again, no matter what the outcome was of any of your previous failures. Learn from your mistakes and improve on your methods.

It is never too late to start over. { The price is $1200+ now and in 5 years the price might be $4000 or more, what will you say then, if you did not invest now? }

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February 24, 2017, 06:14:51 AM
 #33

you need knowledge and experience to be successful.

so, a person that it has bid gold in 2000 at 200 USD ... and sell it at 1300 USD ... have no faith ?

[My name is .... Neo!]

stockholder have faith to keep a thing more than 10 years.

i wouldn't call that "faith", it is an educated investment. and stockholders don't keep a thing, they keep whatever they find profitable.
investing in bitcoin is an educated investment.
investing in this gold (pun intended) is dumb faith Cheesy

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February 24, 2017, 06:15:05 AM
 #34

I think you re watching it the wrong way. What if current $1200 s a price where people who enter now can still be considered as early adopters? Maybe not that early, but still pioneers of the industry?

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February 24, 2017, 06:16:45 AM
 #35

Those so called "early adopters" of bitcoin failed because of one simple reason,
they didn't see a good future on bitcoin that's why they either sold every bitcoin
they have or did not invest on it in the long run  But who would predict that bitcoin
will rise its popularity as what we are experiencing right now?

I think if ever I'm one of the lucky one who adopted bitcoin early, I would not
expect to be rich as well. It is up to each individual to make a proper evaluation
and the risks involved investing in bitcoin.



 

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February 24, 2017, 08:20:53 AM
 #36

I think you re watching it the wrong way. What if current $1200 s a price where people who enter now can still be considered as early adopters? Maybe not that early, but still pioneers of the industry?
That what I'd think, I've bought Bitcoin less than 200 dollars, but also didn't get rich doing that. But I still consider myself an early adopter.
I just didn't have enough capital back then to invest.


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February 24, 2017, 08:36:42 AM
 #37

I think we all have similar stories and if we had taken advantage of what we had earlier would have been Bitcoin whales by now, but it's a learning curve and in all this we have to learn to critically make the right choices going forward so as not to rue our fate in future.



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February 24, 2017, 09:27:19 AM
 #38

I think you re watching it the wrong way. What if current $1200 s a price where people who enter now can still be considered as early adopters? Maybe not that early, but still pioneers of the industry?
That's a great point to make, i would consider everyone here now who is using bitcoins an early adopter, we have a long long way to go yet.

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February 24, 2017, 10:24:50 AM
 #39

I think you re watching it the wrong way. What if current $1200 s a price where people who enter now can still be considered as early adopters? Maybe not that early, but still pioneers of the industry?
That's a great point to make, i would consider everyone here now who is using bitcoins an early adopter, we have a long long way to go yet.

I bet you're right and so we need to join the Bitcoin wagon now and not wait again to discuss this thread three years to come. We are in for massive pump fellow members, don't be afraid to buy more bitcoins and hold them down.



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February 24, 2017, 10:36:34 AM
 #40

early adopter for my definition is
Buy Bitcoin under 20$ , mine bitcoin from your desktop computer using your cpu, if you done all this and still not being rich, then you have made a hell of wrong moves with your free money,  Undecided

There were people who bought or mined Bitcoin when it was worth $1!
And they sold as the price was $10 because "that's the ultimate price".
The same with people who bought at $20 and sold at $100!!

These people had hundreds, thousands and some tens of thousands of coins!!!
No one at that time, even the guys with incredible financial and IT knowledge and background knew what could be possible with Bitcoin.
Only a very small group of people saw it and had the courage to hold or accumulate more.
You can not blame the really early  adopters to have done something wrong.
In hindsight it's always easy to say what someone should have done and what not.

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