Bitcointalk.org user loses $2,000,000 in Bitcoin

[First77]

Can you actually define "lost"?  Did the person get their computer stolen or suffer a hard drive failure and not have a backup? Or did the person fritter the money away gambling in which case you should have very little pity for the guy, as they often say some people have more money than sense. 

Loss from price fall

[franky1]

bitcoin pizza guy in 2010 wasted 10,000btc on pizza

But the pizza guy got 10,000 Bitcoins. I am talking about loss from price fall.

not mentioning my total hoard. but the difference between christmas 2017 and january 2018 would be considered a 'loss' of millions .. but i dont care because to me personally its not a loss until you have sold for less then you bought it. and i have never sold for less than i bought

thats rule one on any market

[@ltra]

World isn't ended yet. There are still hopes for bitcoin to reach 40k+$ by the end of this year or more. But if he keeps on holding those coins he can get any coins from fork as well as if he keep invested those coins at somewhere which gives small but constant profit. He will still be in profit by the end of they day

[iryboy]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

Wow thats huge, however normally we read people make $2,000,000 in Bitcoin, so it goes both ways.

[preshpr1nce]

Remember people, the OP is the FUDster of the week, he put up a thread telling every one BTC should be worth $400 due to gold only being worth $1300/oz
He also had a referral link to a gold trading platform in his signature before being called out, he now has his twitter url which if you go to, has the gold referral link on it.

And what defines a loss? I've bought BTC above dip prices before and just by holding I've never lost a cent, if you buy at $10,000, it dips to $8000 then a few months later it's at $15,000, do you consider it a loss at the $8000 dip? if you panic and sell at the sign of a dip you should give up already, applies to all markets not just crypto.

The stock market has far worse horror stories too, GFC hit many with 50%+ losses and there have even been stock traders who committed suicide over huge losses.

Here's a stock trader who lost billions and took his life due to it.

https://www.reuters.com/article/us-merckle-newsmaker-sb/german-billionaire-commits-suicide-after-vw-losses-idUSTRE5055O820090106

At least with BTC if you look back in history, every large dip has followed by greater price increases, based on this, if you hold your BTC you'll lose nothing, even those who bought at $16,000 per BTC will see it come back in as little as 6 months, seeing as this guy loves gold let me give an example:

Gold price in 2012 at it's peak was $1770/oz, gold price today = $1328/oz, since the large dip in gold prices in 2013, it's price has not exceeded $1365/oz.
If you bought gold in 2012 and didn't cash out before this dip, you are still at a loss 5 years later.

Now show me an example where BTC has done the same for such a period, you can't.

Lesson here, never sell BTC for less than you bought it and you'll be fine.

[cryptotsunami]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

Anyone in bitcointalk can say he lost $2,000,000. But without a proof it is just a hearsay. He could also say it is a paper loss because the price of bitcoin is depreciate. It will only become a loss if you sell it to fiat.

[First77]

Wow thats huge, however normally we read people make $2,000,000 in Bitcoin, so it goes both ways.

That's what I am doing, showing people Bitcoin is not always profitable. Those could be rich scammers/frauds who are pushing Bitcoin price above $5,000 so be careful and do research.

[Gringoblin67]

This is why even investors still really need to make a plan in case things go south with Bitcoin or any other investments for that matter. 

[ninche]

i myself lost 2 million dollars last month

[First77]

i myself lost 2 million dollars last month

How many Bitcoins did you buy and what price ??

[Noelbetty12]

How did the forum member lost such a big amount of money? And why was it so? If it was lost in a game or on gambling then it's really a heartache. If it was hacked the more painful it is. Either should teach us a lesson not to be too careless in everything we do and don't let emotions just ruin your logical reasoning especially in gambling.

[Sexie]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

I dont think so, it depends on How He lose  it. He might  joined gambling that is why He loses that some kind amount of Bitcoin. Or maybe He bought a huge amount of Bitcoin at the highest price and He just sell them during at low price of Bitcoin . That is just other options How He get lose., just guessing in here. Another one, maybe He was backed by scammmers that they just grabbed his  Bitcoin from his wallet.

[heureca]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

I know people who have lost 10k ETH due to hacked wallet and it was case of violation safety rules. So security of your wallet mostly depends on you only

[anitaraymonds]

He has not lose anything yet until he decided to sell off. If he can hold till  the market reverse  the price turns positive again. Panicking is not part of the system . If you panic you sell at a loss.

[First77]

He has not lose anything yet until he decided to sell off. If he can hold till  the market reverse  the price turns positive again. Panicking is not part of the system . If you panic you sell at a loss.

If Bitcoin price falls more, he will lose $1,000,000 more    Sell at $6000 is very good decision.

[First77]

In 1997, I was thinking of buying a 25 cents per square feet land in an undeveloped area. Today, the country's biggest international airport is coming up within 10 kilometers of that area. The land price now in that area is $110 to $200 per square feet.

That is 440 to 800 times profit in 20 years. 100% supported by governments, investors and banks.

[A Feeder]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

How did he lost it and who? I doubt that this information is not legitimate because that value is too high. Also, what type of wallet that the victim uses. Maybe it was hacked or something we cannot imagine.

[monkeydominicorobin]

I read while reading many threads here that a bitcointalk.org member lost $2,000,000 in Bitcoin.   

He lost a lot but still he has more Bitcoins than all of us combined. A weird way to brag. But still it is bragging.

[Caesar-Giulius]

Can you actually define "lost"?  Did the person get their computer stolen or suffer a hard drive failure and not have a backup? Or did the person fritter the money away gambling in which case you should have very little pity for the guy, as they often say some people have more money than sense. 

Loss from price fall

Loss from price fall is paper lost which has not been realized if he didn’t sell his bitcoin. He might have $20 million “gain” when bitcoin price increase.

[Zsywt1024]

I support your argument, but I do not think the exact amount is accurate enough
Most people are still losing money, which should be in all markets
But if it is because of the loss of wallet documents or forget the password or Bought a pizza Then how to calculate the price of loss
Of course, many people will regret not buying a lot of bitcoin last year
So I think floating profit or loss is only a period of time