My Story about my life and Bitcoin (ends badly) ✞

[mrcash02]

Go back to your parents house, you will save a lot of money by living with them... Or find someone to live with you and split the bills with this person. Save money, buy Bitcoins and just hold it or do safe trades (not often). If you are a good trader you won't have problems with this.

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[Vilrex]

What ? Did you go to a judge several times, because your parents were not ok to let you gamble some money?  (money that surely not comes from your pocket) This is really out of respect for your parents. You say you are trying to live alone with trading as your source of income while you are 18-19-20? Come back to earth man, stay with your parents, go to school and stop dreaming.
Sorry to be rude but face the reality.

Yes there is money that came out of my pocket, I received cash a lot of times from grandparents and other family and gave it to my parentsto put it on my bank account! There is also money that I received directly on my bank account (I never touched that). But I trusted my parents in putting my pocket money in my bank account which they did. Now I feel betrayed because they are holding back things I once had in my own hands (I didn't hold all of it but it was a lot more than I got back)

also don't ever ever ever let your parents handle your money, I had a problem with my dad because he had some of my money and that made me lose out on so many opportunities in crypto that's why I always have control over my money, I never had a bank account I can only trust myself with my stuff I saved my money in cash in my room in a safe box I don't like banks its not worth it.

Well, too late now. I thought banks were better than cash because it is safer (for most people). Unless parents decide to "protect" you.
Or unless governments block your bank account because you could be a criminal.

Cash gives you more control indeed, but 1 thief can easily take it all.


Now I wish I did the same like you so I could put it on a prepaid credit card and buy cryptocurrency with all of it and be safe!!

dude we are young I strongly believe that in the future, let's say 2025 we will be considered early adopters, just explain to your parents what is Bitcoin, I can't lie my dad was super skeptical about it calling instantly a scam ponzi etc but I showed him numerous news articles and after a long time I got him into Crypto and he actually started investing.

[ZepaniZeppos]

You're basing your argument on the premise that if you had more money, you would be trading better.  The reality is that if you had more money, you would be very emotional because you're terrified of losing large amounts at once or suffering from volatility.  Even if you were not like this, you can't just trade and expect to succeed.  You need to have a clear strategy and actual reasoning behind what you're doing other than the fact that crypto has rose in value in the past.

People do make money from trading but no one makes a "reliable" or "steady" income from crypto trading unless they're a complete whale who has enough power to manipulate the market.

Your parents were wrong about crypto being drug money, and they should not have prevented you from accessing your bank account, but you need to be serious here.  You sound like an extremely cliche teen rebel.

Well, I noticed that I am good at trading when I think positively. For example 1 year ago I was thinking very positively about it when I was trading with 10$ in Bitcoin on Poloniex. 20 days ago I was very positive when I first had my money (1000$). It went as good as a year ago and my strategy worked. The problem is that I didn't make enough money and that is where I got frustrated and messed everything up with emotion. It's like there is 2 versions of me when I am trading. I also watch my trading screen too much and it might be another reason I lost my mind

Thanks for reading and commenting!

[HashFace]

I have to echo some of the comments above.  When you trade, you are up against sophisticated operations with computer algorithms that will be one step ahead of you (unless you are really, really good at spotting opportunity).  

That's why you invest, long term, don't buy anything unless you think it is worth holding.  Stock market studies show amateur investors (buy and hold) outperform amateur traders.  Ive never seen a study like that specifically for crypto, but in looking at the long term growth of cyrptos,   long term holding has probably out performed ever asset class over the last 3 to.10 years.

[BitcoinNewsMagazine]

You should trade on paper for a year until you have proven to yourself you can make profits consistently. Most new traders lose their bankroll and quit. When you are young you think you are special and the rules do not apply to you but pro traders will eat you alive. Fresh meat is what novice traders are called. Good luck. If you are serious about trading you need to find a mentor who will teach you enough for you to stay above water.

[buwaytress]

Hi there. We've mostly all been 19 and done worst, possibly more idiotic things. So take comfort in that. You said your story ends badly, but I think you're missing the main point: it's not over!

You've lost some money, but not all of it. You even have a huge safety net that you can't access. You should be thankful for that, your own admissions that you are prone to emotional influence shows that you can't yet trade for a living and that you can't yet handle your money responsibly. Believe me, earn back that trust and show them they are wrong, your parents will give you control of that 10k pounds.

Tell you what, there's no get-rich-scheme, not even with Bitcoin. Take the advice of persevering with earning your own money. At minimum wage, a few months of work at Costas can recover your losses. Work hard, save up, and do whatever it is you want to do diligently. Freelancing didn't work for you? It took me years to build up some form of recognition and I lost them in a few months when I switched careers. You need to invest effort and time to network and build portfolios if you want to freelance.

Remember, it is not the end. It hasn't gone well for you, but there's plenty of room to turn this around.

[PancherBitCoin]

You should trade on paper for a year until you have proven to yourself you can make profits consistently. Most new traders lose their bankroll and quit. When you are young you think you are special and the rules do not apply to you but pro traders will eat you alive. Fresh meat is what novice traders are called. Good luck. If you are serious about trading you need to find a mentor who will teach you enough for you to stay above water.

I also tried to trade at the crypto exchange and, honestly, as a beginner I was very lucky from the very beginning. The consequences to me were not so much to lead as before. Today we can say that I generally lost my grip, Or simply I can not achieve the results I would like. But judging by the way the price of Bitcoin is moving, I think that with a certain growth of the coin, the business of many traders will go up.

[Vilrex]

You should trade on paper for a year until you have proven to yourself you can make profits consistently. Most new traders lose their bankroll and quit. When you are young you think you are special and the rules do not apply to you but pro traders will eat you alive. Fresh meat is what novice traders are called. Good luck. If you are serious about trading you need to find a mentor who will teach you enough for you to stay above water.

this isn't stocks... this is crypto, in one year everything will be so much expensive and im 100% sure of that

[ZepaniZeppos]

Hi there. We've mostly all been 19 and done worst, possibly more idiotic things. So take comfort in that. You said your story ends badly, but I think you're missing the main point: it's not over!

You've lost some money, but not all of it. You even have a huge safety net that you can't access. You should be thankful for that, your own admissions that you are prone to emotional influence shows that you can't yet trade for a living and that you can't yet handle your money responsibly. Believe me, earn back that trust and show them they are wrong, your parents will give you control of that 10k pounds.

Tell you what, there's no get-rich-scheme, not even with Bitcoin. Take the advice of persevering with earning your own money. At minimum wage, a few months of work at Costas can recover your losses. Work hard, save up, and do whatever it is you want to do diligently. Freelancing didn't work for you? It took me years to build up some form of recognition and I lost them in a few months when I switched careers. You need to invest effort and time to network and build portfolios if you want to freelance.

Remember, it is not the end. It hasn't gone well for you, but there's plenty of room to turn this around.

The reason I started taking those risks is because I was simply hoping for it to turn out well and give me opportunity for a better life and rent some cheap appartment. High Risk = High Rewards (when lucky) I've set an unrealistic goal for the amount of money I am trading with. I'm 100% sure it wouldnt' have gone this way if my parents never got me into frustration like this. Only time will tell who is right.
We'll see.

Thanks

[ZepaniZeppos]

Go back to your parents house, you will save a lot of money by living with them... Or find someone to live with you and split the bills with this person. Save money, buy Bitcoins and just hold it or do safe trades (not often). If you are a good trader you won't have problems with this.

The problem is getting out, not getting in  ( ͡° ͜ʖ ͡°)

[pitiflin]

Hello fellow cryptomaniacs,

I'm just gonna write a story because I'm stuck and need help.


1 year ago when Bitcoin was trading at 600$ I was looking for online tasks and other stupid things that make you earn hardly 1$ a day.
When I noticed websites that paid in Bitcoin I deciced to do this and later exchange it for "real money".
I thought Bitcoin was like PayPal with an unofficial currency called Bitcoin. But when I decided to look up what Bitcoin actually was I found that I could "generate" Bitcoin. So I tried doing that with my tablet (LOL!!). When I looked up more about it I found out about it's technology and decentralization and got obsessed (At least I realised it instead of being stubborn and be like "nah, Bitcoin is scam. It's not real money"). At the time I was 18 years old and decided to talk about it with my parents to get some money from my own bank account for Bitcoin trading. But my parents blocked my bank account for preventing me doing stupid things with it.
When I tried to convince them and explain them what all of this is about they say it's not "real money" and that it is a "criminal underground world". I know people do drugs with Bitcoin but so do people with FIAT "the real not scam money #sarcasm" so maybe we should get rid of that first right? So I got really annoyed and tried to get a job but I don't have a graduate yet so I was really fucking stuck.
I went to a judge several times to talk about this but he is a close minded idiot as well. finally one year later when I was 19 and Bitcoin was trading at around 3000$ I got a chance with 1000$ to invest. I also wanted to move out of the dictators house before going to school again. I know a lot of trading and I tried it with 10$ back when Bitcoin was trading at 600$ and I was really good with it. So finally 1 year later and after many delays (and yes even the bank was trying to stop me) I started trading and all went really well for a couple of days.
But because 1000$ is not enough money to have enough profit to make a living of it so I can live alone and be free I started to get frustrated because my realistic goals of profit didn't get me enough profit to live on myself.

So I got frustrated and started to take too much risks and didn't follow my own plans and now I lost half of money because of this.
As long as my parents don't give me enough money to trade with it is impossible to have realistic goals and a reliable income.
I started trading around august 1 which also is a bad time because Bitcoin was rising and altcoins keeps falling (BTC price).


So I got into emo trading now. I cannot trade without emotions if I don't have enough money to have realistic goals. I was under too much pressure.

I need more but how? Can't talk with parents since everything will be my "my fault". A lot of frustration and anger had built up past year.


Thanks for reading. Hopefully I won't get too much of "it's your own fault you idiot" and "you are a bad trader" comments

Dude listen up, go for signature campaign, it will help you recover your lost money (in like a year or even less depending on how much you have lost since you're only a member and members arent paid much) but you can do other things like blogging and writing articles, but be careful you already have lost a lot of money and also just so you know it's not your fault, I have seen worse parents than this, so keep your spirit high, nothing will happen to you just act smartly and not in a hurry. Take care and I wish you good luck for the future.

[Bigmacduck]

Stop blaming your self dude, start trading Bitcoin silently, you dont need to inform your not so open-minded love ones that you are trading crypto. Start earning Bitcoin from freelancing, from bounties, signature campaign, etc..
There are so many traders in this forum that is 0 investment, AND I AM ONE OF THEM.

I started trading from my earnings in freelancing in logo design, blogging and bounties. I know you can do it too. Just open your mind, be creative.

Thanks, I already tried freelancing. But it's hard to get that first job, I never got my first job on Upwork. (pays to paypal, then I would buy with my VirWox account because it already is verified)

I'm not sure what to do

The best investment that you can do at your age is to get a good education. The best trade you can make is to trade leisure time for learning time. Mankind still progresses for many centuries to come and new investment opportunities come every year, month day.

You need to ask yourself what you would do when you make 100k$ profit from an investment or trade. 100k$ is not a lot and will not finance the rest of your life. Heck, even a million bucks is not enough to make it to the end.

Once you have a good education, a job that is both fun and well paid, then you always strive to live a life that is below your purchasing power. The money you save from not always purchasing the latest smartphone, nicest car, most prestigious house, etc you invest into assets with at least a 10 year horizon. That is the road to financial success - not trying to make a quick buck.

[buwaytress]

Hi there. We've mostly all been 19 and done worst, possibly more idiotic things. So take comfort in that. You said your story ends badly, but I think you're missing the main point: it's not over!

You've lost some money, but not all of it. You even have a huge safety net that you can't access. You should be thankful for that, your own admissions that you are prone to emotional influence shows that you can't yet trade for a living and that you can't yet handle your money responsibly. Believe me, earn back that trust and show them they are wrong, your parents will give you control of that 10k pounds.

Tell you what, there's no get-rich-scheme, not even with Bitcoin. Take the advice of persevering with earning your own money. At minimum wage, a few months of work at Costas can recover your losses. Work hard, save up, and do whatever it is you want to do diligently. Freelancing didn't work for you? It took me years to build up some form of recognition and I lost them in a few months when I switched careers. You need to invest effort and time to network and build portfolios if you want to freelance.

Remember, it is not the end. It hasn't gone well for you, but there's plenty of room to turn this around.

The reason I started taking those risks is because I was simply hoping for it to turn out well and give me opportunity for a better life and rent some cheap appartment. High Risk = High Rewards (when lucky) I've set an unrealistic goal for the amount of money I am trading with. I'm 100% sure it wouldnt' have gone this way if my parents never got me into frustration like this. Only time will tell who is right.
We'll see.

Thanks

Understandable. I think at that age, and for at least a decade more, your appetite for risk will be very high. There's a bit of a gambler in us and youth tends to be the great instigator. It's good you realise that your goals were unrealistic. That's part of the learning.

Also, you'll hopefully find out, with time, that it's not really about who's right. At the end of the day, you're the product of everything that ever happened up to that point. There's a lot I might have done differently in my youth, knowing the things I do now. But I'm certain I wouldn't be the person I am today had I done things more "correctly".

I know it doesn't make sense now, but when you own up to the bad that happens to you, the good will feel a lot more deserved. Be well!

[pearlmen]

 Actually everybody have one story or the other to tell but its unfortunate that yours is ending on a bad note but truthfully a lot of others have been counting their blessing ever since their encounter with bitcoin but the most important is you have learnt your lesson and others will equally learn from it not to fall into same pit .

[drachman]

You're basing your argument on the premise that if you had more money, you would be trading better.  The reality is that if you had more money, you would be very emotional because you're terrified of losing large amounts at once or suffering from volatility.  Even if you were not like this, you can't just trade and expect to succeed.  You need to have a clear strategy and actual reasoning behind what you're doing other than the fact that crypto has rose in value in the past.

People do make money from trading but no one makes a "reliable" or "steady" income from crypto trading unless they're a complete whale who has enough power to manipulate the market.

Your parents were wrong about crypto being drug money, and they should not have prevented you from accessing your bank account, but you need to be serious here.  You sound like an extremely cliche teen rebel.

Some people think that getting better equals getting more and that is not the case, it is similar to playing poker if you play well at the 1 dollar stakes you cannot expect to play the same with 100 stake, having so much money riding in a hand is going to make you very nervous and you can make mistakes.

[NorrisK]

I expected much worse to be honest based on the title.

Yes, you missed out on profits due to your parents blocking your account and yes you made some stupid trades.

Guess what? The second happens to all of us.

The first there really isn't anyone to blame imo, your parents tried to protect you from what happened now.

[pekingcoepo]

I applaud your decision to explore the trading world in Bitcoin with great courage, I think if we are going to succeed, we should reduce it so we really make a decision, maybe many people say you are stupid, but to me you are amazing. For parenting problems, prove it with your earnings in Bitcoin one day your parents will also understand. Now be patient some day you will succeed.

[zergenyt09]

Hello fellow cryptomaniacs,

I'm just gonna write a story because I'm stuck and need help.


1 year ago when Bitcoin was trading at 600$ I was looking for online tasks and other stupid things that make you earn hardly 1$ a day.
When I noticed websites that paid in Bitcoin I deciced to do this and later exchange it for "real money".
I thought Bitcoin was like PayPal with an unofficial currency called Bitcoin. But when I decided to look up what Bitcoin actually was I found that I could "generate" Bitcoin. So I tried doing that with my tablet (LOL!!). When I looked up more about it I found out about it's technology and decentralization and got obsessed (At least I realised it instead of being stubborn and be like "nah, Bitcoin is scam. It's not real money"). At the time I was 18 years old and decided to talk about it with my parents to get some money from my own bank account for Bitcoin trading. But my parents blocked my bank account for preventing me doing stupid things with it.
When I tried to convince them and explain them what all of this is about they say it's not "real money" and that it is a "criminal underground world". I know people do drugs with Bitcoin but so do people with FIAT "the real not scam money #sarcasm" so maybe we should get rid of that first right? So I got really annoyed and tried to get a job but I don't have a graduate yet so I was really fucking stuck.
I went to a judge several times to talk about this but he is a close minded idiot as well. finally one year later when I was 19 and Bitcoin was trading at around 3000$ I got a chance with 1000$ to invest. I also wanted to move out of the dictators house before going to school again. I know a lot of trading and I tried it with 10$ back when Bitcoin was trading at 600$ and I was really good with it. So finally 1 year later and after many delays (and yes even the bank was trying to stop me) I started trading and all went really well for a couple of days.
But because 1000$ is not enough money to have enough profit to make a living of it so I can live alone and be free I started to get frustrated because my realistic goals of profit didn't get me enough profit to live on myself.

So I got frustrated and started to take too much risks and didn't follow my own plans and now I lost half of money because of this.
As long as my parents don't give me enough money to trade with it is impossible to have realistic goals and a reliable income.
I started trading around august 1 which also is a bad time because Bitcoin was rising and altcoins keeps falling (BTC price).


So I got into emo trading now. I cannot trade without emotions if I don't have enough money to have realistic goals. I was under too much pressure.

I need more but how? Can't talk with parents since everything will be my "my fault". A lot of frustration and anger had built up past year.


Thanks for reading. Hopefully I won't get too much of "it's your own fault you idiot" and "you are a bad trader" comments

I also got to know about bitcoin around 2012 and I didn’t even bother investing any money into the stuff at all cos I never thought the price was ever going to increase to the level it is currently. I started investing in January 2017 though.