If only....

[alborg]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

[(altair)]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Well that can't be help since you said you really needed the money.
And we don't really know that the price would go this high so just forget about it I think you would only be depress.

[odolvlobo]

Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

On the other hand, if you didn't sell those bitcoins, you would have developed a debilitating heroin addiction and eventually died from an overdose.

So be happy you are alive and move on.

[Cryptopher]

If Bitcoin as an investment has taught me anything it is to hodl. In pretty much every scenario where I have sold coins, in some cases rather recently, I could have been up ten fold by simply ignoring the markets.

People have all sorts of reasons for selling, and it sucks that you lost out, meanwhile it seems that everyone else is euphoric at the increase across pretty much all the major markets.

[DannyHamilton]

- snip -
until I had no choice but to sell.
- snip -

Bitcoin is an experimental and highly volatile (in terms of exchange rate) new technology...

DO NOT HOLD VALUE IN BITCOIN THAT YOU CANNOT AFFORD TO LOSE!

What would you have done about that holiday if those 27 bitcoins were worth only £0.27?

If the bitcoins were bought with money that you could afford to lose, then you wouldn't have needed to sell them for £7000.  You could instead have just treated them as if they were already worthless.  In that case, you'd have been able to hold on to them until today.

[alborg]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Well that can't be help since you said you really needed the money.
And we don't really know that the price would go this high so just forget about it I think you would only be depress.

True, I'll get over it. 

[alborg]

- snip -
until I had no choice but to sell.
- snip -

Bitcoin is an experimental and highly volatile (in terms of exchange rate) new technology...

DO NOT HOLD VALUE IN BITCOIN THAT YOU CANNOT AFFORD TO LOSE!

What would you have done about that holiday if those 27 bitcoins were worth only £0.27?

If the bitcoins were bought with money that you could afford to lose, then you wouldn't have needed to sell them for £7000.  You could instead have just treated them as if they were already worthless.  In that case, you'd have been able to hold on to them until today.

I could afford to lose them until I lost my job, was off work for 3 months then had a 3 week trip around the states (optional but already planned while I was working).  It's all good.

[Minecache]

- snip -
until I had no choice but to sell.
- snip -

Bitcoin is an experimental and highly volatile (in terms of exchange rate) new technology...

DO NOT HOLD VALUE IN BITCOIN THAT YOU CANNOT AFFORD TO LOSE!

What would you have done about that holiday if those 27 bitcoins were worth only £0.27?

If the bitcoins were bought with money that you could afford to lose, then you wouldn't have needed to sell them for £7000.  You could instead have just treated them as if they were already worthless.  In that case, you'd have been able to hold on to them until today.

His circumstances changed. FFS.

[DannyHamilton]

His circumstances changed. FFS.

And if those bitcoins weren't worth £7000 after his circumstances had changed? Then what?

Note...  I'm not scolding the OP.  He's explained what happened and dealt with his situation already.

My advice is for all the others that read this thread, those who are currently sitting on more bitcoins than they can afford to.  They are the ones that need to think about what they'll do if their circumstances change, and how they'll handle unexpected situations in their lives if their bitcoin holdings were to suddenly become worthless.

[7788bitcoin]

I hope you have found a good job and start having income... I also lost my job around that time but I managed to pull through without needing to sell my coins...

The good thing was that you didn't have to worry about bitcoin price after you have sold them- that was a dark and depressing period for HODLers when the price keep dropping and everyone was saying that "bitcoin is dead!"...

Another good thing is that you are back! It is still not too late to invest in bitcoin again and have faith in it. HODL if you can afford to, and soon you will get back what you have lost...

[MingLee]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Well, everyone gets screwed out of something sometimes. It's not all that often that we can see something like this on the horizon and hindsight is always 20/20 because you aren't trying to predict the future. I respect the sentiments though, and I wish you luck in the future for the stuff you're doing.
I wish I had that kind of money to spend on Bitcoin, but that doesn't mean anything.

[uneng]

It's good to have a managed life, everything under control, finances. It's hard to lose a job and find yourself out of money, but instead of sell the bitcoins, maybe there would be another way, another solution...
But now it's too late to complain about the fact, keep going, buy again, hold it. You still have chances to make profit with bitcoin, don't waste it.

[Comeatmebro111]

sometimes the best strategy is to buy and hold and never look at the price. when you start incurring losses, its hard to keep a clear head and think straight.

[Duzter]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Congrats on the profit made. This is for the trust you had on bitcoin as well for the patience you had to hold the bitcoin for years. So your real life experience will help more users to hold bitcoin for a very long term with patience even when fluctuations were experienced in between.

[The_prodigy]

So happy for you to heard that. Because you have earned a money like that. I hope someday I will have something like that. I need a money like that to support my studies. Just be thankful for having a bitcoins, be thankful that bitcoin helped you with your needs and be joyful for having a bitcoin in your life.

[kalodu]

Did I miss something? The last 2 posts said congrats when actually he lost money?

[Zimtente]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

i think a lot of people have to share a similar story.

i for me was too blind to see the potential of btc back in 2010/2011 when a friend of mine and I decided not to mine bitcoin because it was not worth it - altougth we liked the idea of BTC ;-) also we got once burned with "CLAMS" before we came across BTC^^

but in my opinion. just buy some new/more and hold until eternity. i think BTC can go to 10k if we are able to solve the stupid scaling issues... just my 2 cents.

best wishes and heads up mate ;-)

[crossabdd]

i have only 5btc at 2015 and i seel it, now if i see the market im very frustation too. today im start collecting and mining btc again, sure i convert it to usd because i need some for paying electric fee etc. but im still save some for future $100k price

[lienfaye]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

You have your reasons why you sold them even you dont want to, it happened already so the best thing you can do is to move on. sometimes there were unexpected situation that is bound to happen and you have no control but to go with the flow. the current value of btc is really high but no one knows it will happen back then.

[davis196]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Can you proove your story?
I can say that i have bought 200000 bitcoins back in 2011 and i`m a millionaire now,but
nobody  would believe me without any evidence.