The Reasons Why I Have Lost 50% Of Bitcoin

[alik111]

Actually I am sharing my personal experience with Bitcoin to aware all Bitcoin earners.Hope you all will not make mistakes like me.

At First I started earning bitcoin when its price was around 1000$ and then I worked in crypto for full time.And Day by Day earned 0.1 Bitcoin.Then I suddenly attracted in HYIP(Highest Yield Investment Program) investing and lost my funds gradually and at a time I left it.Then again focused on earning Bitcoin by doing micro works like Airdrops, Social and YouTube Bounty etc .Then I earned Again 0.1 BTC but now Btc Value has increased to 10000$. I have traded in many exchanges like Binance, Mercatox, Kucoin and others and bought Altcoins using Btc.To be true I earned a lot from there.But the last time when Bitcoin Dropped to 4500$ in this Year I made some mistakes by holding Altcoins and by trading without Stoploss and without any proper technical analysis.

So it hurts me when I see that I have lost  50% of my total Portfolio because of some little mistakes.I tried hard but again and again I lose funds when my total Portfolio touches 0.1 BTC..

Suggestions: That's why I think you all should be careful about bitcoin trading and focus on Altcoins when you are expert.And must avoid HYIP investments and go for earning bitcoins without taking high risk.One day you will know what actually means about success.

[Jawhead999]

Personally I don't want to judge you, but my curiosity went up while you said if you focused on micro task (airdrop, social media, and youtube bounty). Because when I compare to your account, seems your account is not active in Bounties, only 1 airdrop and 1 youtube bounty

Bitcointalk Username: alik111
Bitcoin Address: 3ARVhzjzjJCPwH73pjytFCntydjwLrgd7y
Link to the entries:
1. https://www.youtube.com/watch?v=3wLxHTstS7c
2.
3.

Archive: http://archive.vn/xyk3V

So your youtube channel is Cryptobd School and the ID: UCBnMJqWibBtzElsKQ9sGkIg

Connected to this account coinliker already got banned https://bpip.org/profile.aspx?p=coinliker

Your blog/website/vlog link: https://www.youtube.com/channel/UCBnMJqWibBtzElsKQ9sGkIg
Initial Proof of Authentication Post Number: 7372
Week Number: Week: 7 (09/05 - 15/05)
Videos: https://youtu.be/dttIt5Qh7a0
Articles:

Archived: http://archive.vn/4sw42

This account will got banned soon, read this rules

25. Ban evasion (using or creating accounts while one of your accounts is banned) is not allowed.[e]

Others: Another your alt account https://bitcointalk.org/index.php?topic=5237082.msg54154650#msg54154650

Back to your topic, That's true you should avoid all HYIP investments. And you should avoid long-term investment on altcoins, because altcoins is for short-term or mid-term only. It's very risky and not recommended to hold altcoin for long time. Bitcoin is the good long-term investment.

[Velkro]

I made some mistakes by holding Altcoins
[...]
So it hurts me when I see that I have lost  50% of my total Portfolio

Sadly most people involved with Altcoins can say that.
Instead of keeping yourself to one true revolutionary technology (Bitcoin) people move their money to copy-paste coins with different names. That is falling for get rich quick scheme which is sad
I hope people will learn on your lesson to keep to actually true technological advances and not fairy-stories.

[bitcoin_paypal]

Thats why hodling is much better than trading for persons without experience in it

[Yamifoud]

Thats why hodling is much better than trading for persons without experience in it

Definitely right, but for some reason why people aren't just satisfied in holding alone because they want to gain more and that it brings them to try trading. But it was an unfortunate scenario that most new traders have been attracted to HYIP just like what it happen to OP and make them lose. Besides being attracted, we can't deny also how greediness drives into this and that is the possibility for OP's big loss.
That is very important to think wisely and act smartly. HYIP won't make us profitable but instead, it brings us to lose.

[thesmallgod]

Thank for sharing your story. I also had history of taking part in high yield investment program a long time ago but it was before I got to know bitcoin. This was when Liberty reserve was one most common e-currencies. I lost some of my money to this scammers and the rest were lost on the Liberty reserve platform when it was seized by the United State Government. So I learnt long time ago not to take part in fake and Illegal business. In fact it was an eye opener to me because when you have mastered and take part in HYIP, it will be less difficult for you to quickly know a scam projects.

Choosing to invest in altcoin rather than bitcoin to me is also involve risk. You cannot be certain that you will make passive profit. I believe there is a sort of karma in trading too because sometime you make profit continuously and sometime you lose continuously but the most important thing is to learn from your previous mistakes in order to be a better trader.

[BrianZAK]

Believing the hype about tons of altcoins, plus "trading" without having any clue what they're doing (no stop loss?!) are the two biggest "taxes" on newbies entering this space, and in investing in general.

Hopefully you will have learned your lesson and move accordingly.

If you have friends entering the space, share your experience. Each one, teach one.

[bitbollo]

...

I am sorry for you but HYIP are ALWAYS scam.
Investing btc in altcoin market is very risk, most of these alternative projects are just a waste of time and after a big HYPE price go to 1 satoshi
It's a common error, try to find the new bitcoin. This happens because people doesn't know that most of these coins are just clones and there is anything that add a real value.

try to see the positive fact, you have learned a big lesson that worth around the same amount you have lost.

 

[pakhitheboss]

I will never trade my Bitcoin for alts, whatever happens I will keep it secure and safe. If I do need to buy alts for trading I will use fiat for it. Bitcoin cannot be replaced by altcoin and it is a myth that if you trade altcoin you can generate more Satoshi. Your example clearly proves my theory.

[salamat700]

I was one of the victims of HYIP programs way back the time when I was just a neophyte and assumed that HYIPs are real thing. Fortunately, those scams never took all of my money so I was able to make recovery later with the help of cryptocurrency. I am sad just reading your story and thanks for sharing this one...this should be serving as a big warning to new entrants to online investing so they will not easily trust the things they read and never be persuaded by empty promises.

[UserU]

I will never trade my Bitcoin for alts, whatever happens I will keep it secure and safe. If I do need to buy alts for trading I will use fiat for it. Bitcoin cannot be replaced by altcoin and it is a myth that if you trade altcoin you can generate more Satoshi. Your example clearly proves my theory.

If Bitcoin wants to stay dominant, people better start adopting the Lightning Network, given its steep fees whenever the prices go high.

Now I have to pay 30K sats just to withdraw from FBC.

[DoublerHunter]

Actually I am sharing my personal experience with Bitcoin to aware all Bitcoin earners.Hope you all will not make mistakes like me.

^ Definitely a sad story, I don't want to hear about losing in trading/investing. I understand that sometimes we commit mistakes and surely no one will do it intentionally especially when it comes to our hard-earned assets since, the mistake is done at least you have learned your lesson and sharing it to others makes you a better person for you don't want anyone to commit the same mistake as you did.
Sometimes we tend to be eager in earning higher profit like what you did investing to HYIP or buying altcoin and by doing it we tend to forget that home base (bitcoin) can also give lots of opportunities and stability which you have missed so better not to entrust what you have to something which has not proven anything in the crypto world. Nevertheless, I normally do such thing as you do to earn a little profit by getting paid through bitcoin on the products and services I provide to someone though it is little I am pretty sure that it a profit that would be added to my assets.

[adzino]

-snip-

He probably had a lot of alt accounts joining multiple bounties and other tasks over here. And yeah, he is breaking another rule by evading ban. Good find over there.

To OP, too bad you lost most of your coins by doing bad investment. People have been warning everyone about not taking risks by joining HYIPs since they are all scams. You are always left with nothing the longer you stay.

[meanwords]

I think what you lack is research. From what I've read, you are not trying to know first the things that need to be done before you do something, that's why you lost a lot of money even though you could have avoided it if you only researched it in the first place. Although it's an unfortunate event, there's still a good thing about this. You learned your mistakes and you learned a valuable experience that you could use in order for you to judge right and lessen your mistakes in the future.

Well, there's nothing you can do about it now though. At least you shared something that newbies should avoid. I hope you are doing well now OP 

By the way, avoid something that will harm you in a way. Looking at above post, you did something that you should not have done.

[The Cryptovator]

At the beginning mistake could happen, you can learn from your mistakes. Although I didn't invest on HYIP but lots of my friends invest on it. But bitcoin introduced to me by PTC site. I didn't trust any quick earn methods and that's why luckily didn't lost by HYIP or revnshare (overall). On the other hand when we enter on online world first time we weren't aware about online scam and how its work. So day by day we will have to learn. Anyway glad to see that you have realized your mistakes and learnt from there.

Regarding altcoin, all holders become beggar now including me. Also this is a lesson for me, basically we can't learn without losses since we don't have a good mentor. Big mistake in my life that I hadn't sold my bitcoin on ATH and lost a lot. Get lesson from the past would be best solution for us and go ahead with patience. Greed is the main prevention on our success which have to leave for forever. Then we can reach our goal.

[RapTarX]

HYIP is too good to be true all the time. Back then, such HYIP sites were able to scam a lot of people. It has been a while I have seen someone is talking about losing money on HYIP. People who have good knowledge on crypto can be fooled by HYIP sites; I wouldn't believe if someone wouldn't say directly.
Nevertheless, you have learnt the lesson. I would adviae you only start trading once you have ssufficient knowledge on crypto and different TA etc. Otherwise, be HOLDer, dude. It will save a lot of your losses.

[BrewMaster]

Thats why hodling is much better than trading for persons without experience in it

the problem is not with trading or holding. the problem is with WHAT you are trading or holding. in fact OP lost money because he was holding altcoins!
and he is not alone in this. i dare say 90% of the newcomers in 2017 and 2018 have lost a lot of money to altcoins. because they came in and saw a lot of fake advertisement promising them bright future while selling them garbage. the rest is history...

[mycryptocoin]

Sadly but this is the trader's life. I same to you because I have great faith to some crypto like NEO, LTC or ETH. And, as you see, I lost almost 60% my balance because hold them. Now, When I have some experience, I guest anyone needs set stop loss when buying anything If you want to earn profit in this market

[hatshepsut93]

You tried to make a lot of money in a short time and without doing anything. Everyone should know that this is impossible, and all such opportunities are just scams that lure people with unrealistic promises. If something it too good to be true, it is most likely a trap, this is the most important lesson when it comes to money and the internet.

[pixie85]

I also learned the hard way. Not as hard as OP but still things did not go the way I wanted them to.

I wanted to buy Bitcoin but I was under the impression that it's too expensive and that I need to have a Bitcoin to fully benefit from it and I barely had enough to buy one at the time so I turned to altcoin trading and investing and barely made a profit. Once I earned on one coin I lost it by investing in a different one.

My advice to you all is once you get some BTC don't risk it! Hold it!