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Author Topic: My sweet and bitter experience about bitcoin  (Read 1850 times)
Jamesp2k
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August 07, 2018, 04:00:48 PM
 #1

I started my cryptocurrency journey around July 2017. I bought some altcoins;  verge; dodge, Xrp Siacoin on Bittrex and left some on bitcoin. It was a roller coaster for me around November to December 2017, particularly with verge, my crypo investment of just about $120 grew to a little bit over $3,000. I never new on time until I opened my bittrex. It was wao!

I took out some money since I was in need about $1000. With the euphoria of bitcoin suppasing $20,000, so I watched until my investment shrinked from about $2000 to $1500, then $1000, I decided to take out some little more until I had about $800 left.

That amount have shrinked further to about $450. The worst came when I took a third of the amount to buy Mithril coin when the news came that it won a vote to be listed on binance,  and suddenly it was disqualified,  and the price have falling like packs of cards, more than 50% right now.

Its a question of if I had known, I would have withdrawn the $3000 the moment I saw it on my bittrex account. Who can tell the future?

But I am wiser now.

Does anyone have similar experience
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August 07, 2018, 04:04:07 PM
 #2

Just charge it as an experience mate,  some days are good but there are also days that we have some losses, that a life here in cryptocurrency. And thats good because it teaches you to become wiser for the next situation to do.  Even if in any kind of way here crypto, in trading,  or in investment,it helps your past experience.

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August 07, 2018, 04:12:07 PM
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Bitter experience was not surprising. I began to be interested in crypto currency at the most favorable moment. After I bought bitcoin, the market grew significantly Grin
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August 07, 2018, 04:15:20 PM
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Bitter experience was not surprising. I began to be interested in crypto currency at the most favorable moment. After I bought bitcoin, the market grew significantly Grin

So what happened? Did you withdraw all your investment?
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August 07, 2018, 04:33:36 PM
 #5

What was the purpose of your crypto investment at the very beginning? I can imagine that you first wanted to use crypto as a store of value, like most of us do. But then greed took over in December, which is not necessary a bad thing. However, you should not have traded your valuable coins to some random altcoins to reduce your loss. Also if the answer to the first question was a store of value then you did not succeed your experiment, because you did not keep it for a long time. Next time, decide what you want to accomplish with your investment and stick to the plan. The decisions you make during a recession are often the wrong ones. Keep this in mind.

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August 07, 2018, 04:40:42 PM
 #6

We all has stories to tell on the experience of 2017 December. It was so terrible that my account that  I saw in my wallet at that time was $9800 is now as we speak shrink to a little above $800.That is just a fact but am still holding because it is not yet a loss till I sell them off. December 2018 will soon be here.

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August 07, 2018, 04:43:07 PM
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What was the purpose of your crypto investment at the very beginning? I can imagine that you first wanted to use crypto as a store of value, like most of us do. But then greed took over in December, which is not necessary a bad thing. However, you should not have traded your valuable coins to some random altcoins to reduce your loss. Also if the answer to the first question was a store of value then you did not succeed your experiment, because you did not keep it for a long time. Next time, decide what you want to accomplish with your investment and stick to the plan. The decisions you make during a recession are often the wrong ones. Keep this in mind.


  We have different experiences about investment, one should note that market is Volatile, anything can happen at any given time, market movement is unpredictable, price value can goes up and goes down dependent on the Volume of investment by the investors on Bitcoin, The risk involved in the market investment it is just the same on the amount you've invested. you may gains some profits but you may loss some amount as to investment.

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BitBustah
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August 07, 2018, 04:45:02 PM
 #8

At least you came out with a profit, there are a lot of angry people that bought near the top that are heavily in the red.  It's impossible to predict where the top will be so so don't feel too hard on yourself.  It sucks to sell too late but its an equally bad feeling to sell too early and watch the prices skyrocket.

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August 07, 2018, 04:47:52 PM
 #9

What was the purpose of your crypto investment at the very beginning? I can imagine that you first wanted to use crypto as a store of value, like most of us do. But then greed took over in December, which is not necessary a bad thing. However, you should not have traded your valuable coins to some random altcoins to reduce your loss. Also if the answer to the first question was a store of value then you did not succeed your experiment, because you did not keep it for a long time. Next time, decide what you want to accomplish with your investment and stick to the plan. The decisions you make during a recession are often the wrong ones. Keep this in mind.
I agree with you. That was why I said I am wiser now
Shutup
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August 07, 2018, 04:51:15 PM
 #10

I started my cryptocurrency journey around July 2017. I bought some altcoins;  verge; dodge, Xrp Siacoin on Bittrex and left some on bitcoin. It was a roller coaster for me around November to December 2017, particularly with verge, my crypo investment of just about $120 grew to a little bit over $3,000. I never new on time until I opened my bittrex. It was wao!

I took out some money since I was in need about $1000. With the euphoria of bitcoin suppasing $20,000, so I watched until my investment shrinked from about $2000 to $1500, then $1000, I decided to take out some little more until I had about $800 left.

That amount have shrinked further to about $450. The worst came when I took a third of the amount to buy Mithril coin when the news came that it won a vote to be listed on binance,  and suddenly it was disqualified,  and the price have falling like packs of cards, more than 50% right now.

Its a question of if I had known, I would have withdrawn the $3000 the moment I saw it on my bittrex account. Who can tell the future?

But I am wiser now.

Does anyone have similar experience

My sweet experience in bitcoin is when l have a big value of payments before because the price is very expensive.l really enjoy the day to have a big payment.But for now its bitter because my tokens have no value.The price is very low we dont have any profit for almost how many months.But still waiting for the pump of market.

jhayness18
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August 07, 2018, 05:02:12 PM
 #11

In investing there are absolutely has a bitter and sweet experiences because every investment has a risk that we may encountered and we need to conquered if we wanted to be a successful one. Actually, the ups and downs movements of btc are may considered as a bitter and sweet experiences because it can may cause of loosing our investments of winning it or becoming a successful investment.
Aura
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August 07, 2018, 05:49:27 PM
 #12

What was the purpose of your crypto investment at the very beginning? I can imagine that you first wanted to use crypto as a store of value, like most of us do. But then greed took over in December, which is not necessary a bad thing. However, you should not have traded your valuable coins to some random altcoins to reduce your loss. Also if the answer to the first question was a store of value then you did not succeed your experiment, because you did not keep it for a long time. Next time, decide what you want to accomplish with your investment and stick to the plan. The decisions you make during a recession are often the wrong ones. Keep this in mind.


  We have different experiences about investment, one should note that market is Volatile, anything can happen at any given time, market movement is unpredictable, price value can goes up and goes down dependent on the Volume of investment by the investors on Bitcoin, The risk involved in the market investment it is just the same on the amount you've invested. you may gains some profits but you may loss some amount as to investment.
The market is unpredictable, that's why you should never invest more than you can lose. But keeping your investment for three months is more like gambling, it goes up or down. When you keep it for let's say 5 years then you know exactly whether it got adopted in the society or not and therefore justifies the value. That is a real investment like you would do in a startup you have fate in.

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Oniko
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August 07, 2018, 06:02:47 PM
 #13

I started my cryptocurrency journey around July 2017. I bought some altcoins;  verge; dodge, Xrp Siacoin on Bittrex and left some on bitcoin. It was a roller coaster for me around November to December 2017, particularly with verge, my crypo investment of just about $120 grew to a little bit over $3,000. I never new on time until I opened my bittrex. It was wao!

I took out some money since I was in need about $1000. With the euphoria of bitcoin suppasing $20,000, so I watched until my investment shrinked from about $2000 to $1500, then $1000, I decided to take out some little more until I had about $800 left.

That amount have shrinked further to about $450. The worst came when I took a third of the amount to buy Mithril coin when the news came that it won a vote to be listed on binance,  and suddenly it was disqualified,  and the price have falling like packs of cards, more than 50% right now.

Its a question of if I had known, I would have withdrawn the $3000 the moment I saw it on my bittrex account. Who can tell the future?

But I am wiser now.

Does anyone have similar experience



You can always talk about the past with wisdom.

Now it is important what lesson you learned from the past and what you think about bitcoin in the next six months.

Will the bitcoin grow?

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August 07, 2018, 06:32:41 PM
 #14

I had no experience in the history of bitcoin. but there was an experience with another crypto coin, I invested in a freelancer project! it was in January, the price rose slightly higher than on the primary sale! I was greedy and did not sell! in the end after January, the price is swiftly beginning to fall. Now my investment in this project has decreased by 15 times! (((   Now I'm waiting for growth!)

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August 07, 2018, 06:36:28 PM
 #15

Investment in cryptocurrency is not certain and I don't think it is something you should invest the amount you can't afford to lose.
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August 07, 2018, 06:39:36 PM
 #16

I had 3 situations in a year - I was hacked in 2000, I created a new wallet and did not write down a new password - 15000, I lost 350 dollars in putting a coin into the scam. The conclusion I made is that in such earnings it is better not to invest anything, there is a great chance to lose everything, in times of bad times 95% of projects turn out to be a scum. Better invest in passive income and business, and already from there the money is here.

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August 07, 2018, 06:40:48 PM
 #17

It's unfortunate but that kind of stuff happens with all investments, not just cryptocurrency. I learned the hard way that the best thing is usually to hold and go long with investments. One day it's worth $3000 one day it might be worth $500...but usually if you hold on long enough it'll go much much higher.

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August 07, 2018, 07:36:00 PM
 #18

It's unfortunate but that kind of stuff happens with all investments, not just cryptocurrency. I learned the hard way that the best thing is usually to hold and go long with investments. One day it's worth $3000 one day it might be worth $500...but usually if you hold on long enough it'll go much much higher.

I have seen it from bitcoin historical graph. The bigger the dip the bigger the bull run. But you will need a lot of discipline to hold.
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August 07, 2018, 07:43:50 PM
 #19

OP is asking "Does anyone have similar experience" , yeah,only like few million people that bought on ATH. But people just dont get it, the point is that when you buy one bitcoin you hold that one bitcoin for the future when heavy infrastucture around btc paying ecosystem will be build and than you will trade you one btc for GOODS, not for dollars but for GOODS, a lots of goods for one bitcoin in 2025,a lot lot more than you can get now.


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vy99
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August 07, 2018, 07:44:21 PM
 #20

It's unfortunate but that kind of stuff happens with all investments, not just cryptocurrency. I learned the hard way that the best thing is usually to hold and go long with investments. One day it's worth $3000 one day it might be worth $500...but usually if you hold on long enough it'll go much much higher.

I have seen it from bitcoin historical graph. The bigger the dip the bigger the bull run. But you will need a lot of discipline to hold.

Definitely. But having discipline is a huge part of investing wherever you go. It's been proven that a strategy of holding long is the best investment strategy.

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