Bitcoin Forum
December 09, 2016, 09:28:27 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Post your n00b mistakes!!  (Read 1477 times)
tonto
Hero Member
*****
Offline Offline

Activity: 678


BubblesBit.com


View Profile WWW
July 05, 2011, 03:15:40 PM
 #1

I'll start with mine.. so wasn't still quite sure how bitcoin worked in relation to difficulty, hashing, etc, so I bought a second HD 5770 when price hit $30 thinking I could get a 6990 with not much more work after that....
 
and then the crash, and then the difficulty hit where now my 5770s are earning "half" of what they were when coins hit $30 ea. 
 
Had I not been a n00b, I would have sucked up and got a 6990 instead. Sad
 
So now I'm still less than 10btc, and waiting to build back up *sigh*
 
What n00b mistakes did/have you made???

.
.......
.......
.......
.......
.......
.......
..........
.....
.....
.....
.....
.....
.
1481318907
Hero Member
*
Offline Offline

Posts: 1481318907

View Profile Personal Message (Offline)

Ignore
1481318907
Reply with quote  #2

1481318907
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
airdata
Sr. Member
****
Offline Offline

Activity: 406


View Profile
July 05, 2011, 03:24:48 PM
 #2

my first new mining card was a 6870 I bought for $180 on amazon.. not researching enough to realize it's hash rate wasn't the greatest for the price I paid.

also, not dumping all my btc at $30 ^^
mjsbuddha
Sr. Member
****
Offline Offline

Activity: 336


yung lean


View Profile
July 05, 2011, 03:25:08 PM
 #3

I sold 400 btc at 75 cents in April. Only thing I consider a mistake thus far
hawks5999
Full Member
***
Offline Offline

Activity: 168



View Profile WWW
July 05, 2011, 03:26:08 PM
 #4

Getting the 6990 would have been the n00b mistake. That 5770 will pay for itself in a couple of months. The 6990 will take much much longer.

And OT: lost $150 to a scammer on OTC.

■ ▄▄▄
■ ███
■ ■  ■               
LEDGER  WALLET    ████
■■■ ORDER NOW! ■■■
              LEDGER WALLET
Smartcard security for your BTCitcoins
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
Decentralized. Open. Secure.
Maria
Sr. Member
****
Offline Offline

Activity: 454



View Profile
July 05, 2011, 03:27:01 PM
 #5

I sent 5,000 BTC to MT GOX and did not let bitcoin client confirm the transcation. Waited 2 days then started bitching on the forum. Somebody here helped me and minutes after my 5K BTC were all MT GOX. 16 hours after that MT GOX got hacked...I got Goxed. Then they came back online. Paid off my mortgage.

Maria.
dinzy
Member
**
Offline Offline

Activity: 98


Fuck Intel!


View Profile
July 05, 2011, 03:30:01 PM
 #6

Got cocky with the static market and went to sleep the other night with open buy orders. Roll Eyes  Not a big loss, but it taught me a little more caution.

On the hardware side I would classify putting a 69xx and a 58xx card on the same Win7 machine as a little neo-n00bish, even though I have been building my own PCs for 16 years.  Why the fuck did I think it would be stable? Has Windows ever functioned smoothly in a configuration that didn't have the slightest chance of being foreseen by anyone 6 months ago?
Elwar
Legendary
*
Offline Offline

Activity: 1946


www.bitpools.com


View Profile WWW
July 05, 2011, 03:36:27 PM
 #7

Back when I first heard of Bitcoin about a year ago I downloaded the client and got it running and started mining.

I got an error message soon after and didn't spend any time trying to get it working. Missed out on a year's worth of mining.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
dinzy
Member
**
Offline Offline

Activity: 98


Fuck Intel!


View Profile
July 05, 2011, 03:59:31 PM
 #8

I sent 5,000 BTC to MT GOX and did not let bitcoin client confirm the transcation. Waited 2 days then started bitching on the forum. Somebody here helped me and minutes after my 5K BTC were all MT GOX. 16 hours after that MT GOX got hacked...I got Goxed. Then they came back online. Paid off my mortgage.

Maria.

If this story is true and US based, which seems unlikely given the time involved, then this is a huge n00b mistake when it comes to taxes.  Even if you paid all the capital gains taxes, you would then loose out on the mortgage deduction.  There are far better investments than paying off a 5% Mortgage that only costs ~3.5%. 
Maria
Sr. Member
****
Offline Offline

Activity: 454



View Profile
July 05, 2011, 05:11:58 PM
 #9

Not US based. Not worried about taxes.



Maria.
tonto
Hero Member
*****
Offline Offline

Activity: 678


BubblesBit.com


View Profile WWW
July 05, 2011, 05:28:10 PM
 #10

Not US based. Not worried about taxes.



Maria.

Jesus H!  I'm jealous!  I have 9 btc to my name Sad  that's right *nine*.
 
I'd totally pay off my house if I had those funds

.
.......
.......
.......
.......
.......
.......
..........
.....
.....
.....
.....
.....
.
MiningBuddy
Staff
Legendary
*
Offline Offline

Activity: 1058


฿itcoin ฿itcoin ฿itcoin


View Profile
July 05, 2011, 05:28:49 PM
 #11

Not US based. Not worried about taxes.



Maria.
Fair play to you!  Grin

error
Hero Member
*****
Offline Offline

Activity: 574



View Profile
July 05, 2011, 06:10:14 PM
 #12

That is most certainly NOT a noob mistake!

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
davux
Sr. Member
****
Offline Offline

Activity: 289


Firstbits.com/1davux


View Profile WWW
July 05, 2011, 06:19:31 PM
 #13

I gradually spent like 200ß on Bitcoin Toss, because I thought I could bet the double of my previous bet at each game, and end up winning my previous losses + an extra. I spent the first 100ß this way, and the other 100ß because of a copy-paste problem and the author was not honest enough to allow me to actually bet them or get them back.

The problem is that you can't verify that such a game is not a scam, and in this very case it turned out it was.

This is my painful n00b mistakes, and lessons:
1. Double-check the bitcoin address you pasted in the client.
2. Beware of the Scam.
3. More specifically, don't trust Alex Beckenham (the actual n00b advice is: don't trust anyone by default).

1DavuxH9tLqU4c7zvG387aTG4mA7BcRpp2
México (Oaxaca) – France - Leeds
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!