CONFESSION TIME: I SOLD TOO EARLY

[coinriches]

OK, let's just say not many of us really believed bitcoin will hit $20,000 this year or this soon.

Personally, my eyes was on ETH and Link to do some unbelievable run that could have seen them rise some 1000% this year. I'd expected bitcoin to, at most oscillate between $7K and $13K this year, but amazingly it was bitcoin that stole the show to lead the bullrun charge.

So, now is perfect time to reflect and hear some confessions from some of our Bitcoin OGs who'd been here since the early days (I won't be surprised to see Satoshi himself resurrect on this thread, in commemoration of his 10th year AWOL anniversary, so, be on the look out. Yea, I remember "We're All Satoshi", but still.....)

Let's hear you, how or where did you first discover Bitcoin? Did you mine on your laptops? Did you buy from MTGox or one of those early days trade platform's? And, most importantly, did you sell too soon? Or luckily, did you hodl till now?

And, no matter what, be proud of your contributions to the development and adoption of the Bitcoin phenomenon, because, we won't be here today without you. If you mined you helped stabilized its decentrality. If you sold you helped in its fare distribution. If you held you helped others to believe in Bitcoin.

[coinriches]

I got into Bitcoin in 2016 through Freebitco.in when its price was $416. Then it gave out about 800 sats per hr on its faucets. Even though there were some standard and functional exchanges back then, there were no practical way to deposit fiat from my country for purchases. So, the only option was faucets.
I was able to raise about 0.04 btc from that site which I invested in mostly arbitrage trades on DOGE/BTC markets in Tradesatoshi, Coinexchage, Bluetrade, Mercatox, Coingather and some other similar exchanges that had doge sub-markets.

I made a lot of money from my arbs, also made losses with some exchanges exit scamming and all that. Then came the 2018 slump. I watched helplessly as my portfolio dwindled day after day, and when I couldn't take it anymore, I sold it all off and withdrew my money.

In hindsight I sold too early.

[passwordnow]

As in all? even your alts have been sold too during that bearish market? that's not the ideal time to sell if the market's too bear. I'm sorry if you just did. Welp, I even sold early too but that doesn't mean that I've sold all. I've sold a portion, might be a 1/4 of my total holdings halfway to the price of bitcoin now. But regardless of that, still I'm happy to have held it and see it growing up and I'm still part of the hodl gang. What are you up to this time? you still accumulating or not anymore? you're not focusing with bitcoin anymore or you are coping up?

[GreatArkansas]

As in all? even your alts have been sold too during that bearish market? that's not the ideal time to sell if the market's too bear. (....)

I already experienced this before, especially on previous peak around 2017. That year also I was introduced with Bitcoin or cryptocurrency, what mistake I made before was buying and buying without doing research on altcoins. I don't even price target or stop loss.
As I remember around year 2018. I sold all of my altcoins in lost. I did it because I really feel bad and I don't want to think again those memories. That's why I started to accumulate Bitcoin instead of altcoins, or majority of my portfolio are in Bitcoin and some high market cap altcoins.

[passwordnow]

As in all? even your alts have been sold too during that bearish market? that's not the ideal time to sell if the market's too bear. (....)

I already experienced this before, especially on previous peak around 2017. That year also I was introduced with Bitcoin or cryptocurrency, what mistake I made before was buying and buying without doing research on altcoins. I don't even price target or stop loss.
As I remember around year 2018. I sold all of my altcoins in lost. I did it because I really feel bad and I don't want to think again those memories. That's why I started to accumulate Bitcoin instead of altcoins, or majority of my portfolio are in Bitcoin and some high market cap altcoins.

In what quarter you've sold on 2018? IIRC, the 1st quarter of 2018 was the altcoins season and that should be profitable if you've been buying on 2017 but if you're in lost then that's not the quarter you've sold. We learn from these mistakes in the past and we don't want to do the same mistake for this year and for the upcoming years to come. The market is becoming mature, bitcoin is increasing and getting out of the price targets that we've set before and making us to expect and set price targets higher than what we've been thinking before. It's a good decision if someone decides to buy bitcoin before investing in alts and making his bitcoin stash more than the alts he has.

[ethereumhunter]

I think you do not have to feel worried. You sold too early because you can enter the market and buy bitcoin and altcoin again. But if you already sold altcoin at a low price, you get a loss, and I am afraid that you will make a profit again. But right now, you have a good time to buy altcoin again if you are worried about the bitcoin price that is already increasing. The altcoin season will come after bitcoin reach the highest price, so if you have altcoin by buying it now, you will make a profit later.

[cheezcarls]

One thing that I did regret was not converting my USDT20 to BTC early. As a result, I'm left behind with the big bull run of Bitcoin all the way up. I was hoarding ETH at least, but I could have used my USDT20 to convert into BTC early when it was still hovering around $17k.

[mk4]

You might've been quite late on LINK if you just bought this year(though I'm not saying it's impossible for it to go up) as it's already had a huge run in the past. Quite a tough lesson to not cash out of the cryptocurrency that mostly matters; and probably just gamble smaller amounts(but definitely not everything) on altcoins.

As for how people discovered Bitcoin, you might be interested with these threads:

Topic: How did you first hear about bitcoin? https://bitcointalk.org/index.php?topic=1132607.0
Topic: How did you discover bitcoin? https://bitcointalk.org/index.php?topic=1682346.0
Topic: How did you start in CRYPTO WOLRD https://bitcointalk.org/index.php?topic=2449129.0
Topic: How did you hear about Bitcoin (From Ponzi to Cryptocurrency) https://bitcointalk.org/index.php?topic=3402211.0

[Peanutswar]

Actually, this is my first time and year in bitcoin that pumps over a $24k prediction price and I didn't expect because previously I focus in the ripple and just ignoring the price of the bitcoin and one day I'm curious more about the bitcoin and try to make an investment lets say at the market price of $3k - $5k and after because of too much afraid on the market movement I already pulled out my funds within the $10k well still regret this decision but I really need some funds so its quite good, now I know some of the things I need and this is for another dump to make a buy.  Hoping another market profit for the next three years again.

[thesmallgod]

I got into Bitcoin in 2016 through Freebitco.in when its price was $416. Then it gave out about 800 sats per hr on its faucets. Even though there were some standard and functional exchanges back then, there were no practical way to deposit fiat from my country for purchases. So, the only option was faucets.
I was able to raise about 0.04 btc from that site which I invested in mostly arbitrage trades on DOGE/BTC markets in Tradesatoshi, Coinexchage, Bluetrade, Mercatox, Coingather and some other similar exchanges that had doge sub-markets.

I made a lot of money from my arbs, also made losses with some exchanges exit scamming and all that. Then came the 2018 slump. I watched helplessly as my portfolio dwindled day after day, and when I couldn't take it anymore, I sold it all off and withdrew my money.

In hindsight I sold too early.

You could not hold back and watch that money falling again. It could have been otherwise if bitcoin did not become what it is today. For me I think you did not run on a lost. In 2027. I made around $4000 from bounty hunting. I was a Jr. Member here on the bitcointalk. I was very happy because I had never make such a money from internet even when I was a regular crowdworker on popular platform called Crowdflower. The joy I felt made me to keep my coins with the hope that this will continue to rise. When bitcoin started falling early 2018 and all altcoins were bleeding, my owe portfolio went down and I had less than $400. I could not bear the loss anymore. I had to empty my portfolio. It would have been entire sad story if I had left that other few bitcoin I had on cryptopia before it was hacked.

[coinriches]

As in all? even your alts have been sold too during that bearish market? that's not the ideal time to sell if the market's too bear. I'm sorry if you just did. Welp, I even sold early too but that doesn't mean that I've sold all. I've sold a portion, might be a 1/4 of my total holdings halfway to the price of bitcoin now. But regardless of that, still I'm happy to have held it and see it growing up and I'm still part of the hodl gang. What are you up to this time? you still accumulating or not anymore? you're not focusing with bitcoin anymore or you are coping up?

Yea, sadly, I sold all.

You see, it was my first experience of a bear season. All the while from my entrance in 2016 nothing like that happened. Yes, there were occasional slumps in prices, healthy retraces in alts too, that was the stuff my Arbs trade was made of. But all of a huge surprise, from Q2 2018 on, prices refused to recover anymore and no one asset was spared, non showed some hope. And in fact, at a time, it became unfathomable that prices will ever rise. We all thought it was a bubble after all and that everything was going to zero.

It was heart-wrenching back then.

 But then came 2019 March and some turning point appeared across the horizon. The industry haven't looked back ever since.

[fortunecrypto]

OK, let's just say not many of us really believed bitcoin will hit $20,000 this year or this soon.

Even I have doubt if Bitcoin will hit $20K much more $23k, and there's a possibility that it will hit $25k before the end of the year, something that caught us by a big surprise, we only want $20k but the market has given us more.

Personally, my eyes was on ETH and Link to do some unbelievable run that could have seen them rise some 1000% this year. I'd expected bitcoin to, at most oscillate between $7K and $13K this year, but amazingly it was bitcoin that stole the show to lead the bullrun charge.

It really is a big turn around I consider this year a big milestone for Bitcoin because it survives the pandemic and now going great before the end of the year.

[bassbity]

And, no matter what, be proud of your contributions to the development and adoption of the Bitcoin phenomenon, because, we won't be here today without you. If you mined you helped stabilized its decentrality. If you sold you helped in its fare distribution. If you held you helped others to believe in Bitcoin.

I still remember very well that in 2017 I sold about 10 bitcoins for about $ 19,500 on the poloniex.com platform, before the end of 2018 my account could no longer be opened. luckily it's sold out. I really don't feel it's too early to sell it early. But what I do imagine is why I don't set it aside at all for my next future. 2019 I retired, spent time trading, built a house, got married, and started again in early January 2020. It turns out that bitcoin will surpass this far. very unexpected.

[buwaytress]

Doubt anyone who was in that early (you're asking about mining from laptops etc) would be still active on this forum section, or would respond to you. No offence, just that they've probably answered that for the last time in 2016/17. I mean, the last time I met someone that old was in those years, and that was the time some old-timers cashed out at $10k.

Doubt there's much regret from their part or any inkling of them thinking they sold too early. 100,000x profit per coin? Would I love to see that!

[Fesatmas]

So, now is perfect time to reflect and hear some confessions from some of our Bitcoin OGs who'd been here since the early days (I won't be surprised to see Satoshi himself resurrect on this thread, in commemoration of his 10th year AWOL anniversary, so, be on the look out. Yea, I remember "We're All Satoshi", but still.....)

no need to regret what has been sold and the benefits that have been felt. indeed one side emotionally there must be regrets. It's just that without us knowing it, if we didn't sell at that time, maybe we wouldn't have gotten this far. the most important thing is to take advantage of the opportunities you have right now.

[Harlot]

It really wasn't too obvious that Bitcoin will be the one going up since other altcoins was going with the same flaw Bitcoin is doing, the only difference is Bitcoin did it faster maybe it is because all of the eyes are focus on Bitcoin and that is including big companies who are buying in the action. However I do believe that Bitcoin's price action right now is something that won't be holding in a long duration especially when it is the start of people actually seeing profit from the price Bitcoin currently has so I won't be surprise when Bitcoin will go down as soon as the first big sell order starts.

[cabron]

The altcoins you sold in the bear market help traders got it for a cheap price, cheer up you already helped the communtiy so don't regret it all. Many traders will probably unload the altcoins the first before BTC. These days I think is the best to unload them.

I have a hard time learning all these but we are still here though so its not a very hopeless situation but a second chance too.

[Alamin1444]

On 2017 When Bitcoin on it’s Peak (17.4k$) i never thought that It's going to dump, And that time everyone saying that it will go up up up 🚀. But what happened Bitcoin Dumped to 3k$ & i am just watching that time, So that time a negativity spread to whole Crypto community & those who buy BTC on 15k they Sold BTC to 3/4k they thought It's End of BTC. But look now what happened!  BTC now on It’s Peak & the Same Scenario will happened again (Maybe) cause 2017 and 2020 is A Big difference Everyone on Crypto space Learn the market Well nowadays. Now you sold your BTC on 20k$ & now It's 24k$ Don't worry now no one know where can BTC go, Its Better to get profit - in my opinion it’s good for you,now just wait for the Best Moment & Buy BTC.

[sheenshane]

OK, let's just say not many of us really believed bitcoin will hit $20,000 this year or this soon.

Probably I belong to those people that believed Bitcoin will reach in the new ATH but the sad thing to know ain't able to hoard a large amount of my Bitcoin due to the fact that I always in need of money since the pandemic was hit worldwide and becomes financial is one of the most priority to those who affected, including me.  If there's no lockdown implemented and my small business and job didn't lose, still I have my source of income and it might be I'm still holding a huge amount of Bitcoin until now but unfortunately, I sold them all, and now I was regret that I don't even have Bitcoin in my wallet.

And, no matter what, be proud of your contributions to the development and adoption of the Bitcoin phenomenon, because, we won't be here today without you. If you mined you helped stabilized its decentrality. If you sold you helped in its fare distribution. If you held you helped others to believe in Bitcoin.

I tend to agree with your point, all you've mentioned above was right.  Engaging in Bitcoin will give a healthier market whether which option you have to choose.  Influence is the most important factor which Bitcoin becomes having awareness in many investors.

[ChrisPop]

My memories of my first interaction with the Bitcoin network are somehow blurry. I remember I was wandering around faucets and doing some business with the old CEX cloud mining operations. And by business I mean purchasing a very small amount of contracts. My highlight is quite the opposite - not selling early an altcoin bag I hodled 'till I lost almost all my gains.