I regret selling BTC for entering DeFi. HODLing is the way!

[NinjaBitcoiner]

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

[hatshepsut93]

More experienced users were always warning newbies to stay away from things like DeFi and ICO that are completely unpredictable in short term and are bound to underperform in the long run because of their bad fundamentals. People like Elon Musk or Michael Saylor would never invest billions in some risky centralized platforms that have nothing but empty promises. It's rally not surprising that Bitcoin outperformed high-yield DeFi. "In retrospect, it was inevitable".

[Lorence.xD]

Not your fault, I expected the prices to increase by more than 40k mid year but Elon bought 1.5 billion worth of bitcoin and here we are, in a hindsight you could have hodl but there is no point in regretting it too much, you didn't know that the prices will go up real fast and you are already earning in DeFi, we always magnify our failures when there is a lot of things that we achieved and we don't appreciate them.

[Reatim]

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

We wont find it coming until we cross the line and you have just want to explore the market and no wrong about that.
I assume that at least you did not lose that whole 32k because you mentioned that you already have Loss and Gains so that means you enjoyed the trade right?

you are just feeling bitter seeing the Rise of bitcoin again but if this not happen ? for sure you are happy in that Defi thing.

but indeed , that Only Bitcoin has assurance and safeties , so the next time try to be patience and calm.

[pooya87]

Your mistake was entering a very risky and shady investment with all the bitcoin you had. You could have just tested the waters using a smaller amount such as 0.1 instead of 1 bitcoin.

Your other mistake is that when you saw the useless token was dumping and bitcoin was rising you still didn't do anything about it for over a month. The correct move would have been to cut your losses early, dumped that token and came back to bitcoin again.

Your other mistake is "investing" in shitcoins instead of trading them. Basically any method that involves you locking some money in an altcoin for any long period of time (yield farming, staking, or any other buzzword the shitcoins use) is a terrible idea. Altcoins are only good for short term trading.

[buwaytress]

I'm the smallest defi fan in my world but... I thought you don't sell BTC to get into defi, you just "wrap" it up and get some defi token to play with, and then redeem it back for BTC?

I mean, isn't that the whole premise of Bitcoin defi that you don't have to let go of your BTC to pretend you're farming meaningless tokens?

In any case, hope it wasn't too expensive a lesson to learn. Don't forget to use as you hodl too;)

[hd49728]

You did not imagine that with the inflation of DeFi projects and of total supply, circulating supply for each DeFi project, price of token will be damaged dramatically. It is the fact and you can not avoid it.

You entered with high price, and get loss now. I don't know the % or times of loss you have currently with DeFi but if it is in % (less than 50%) you can think of exit when they bounce back. If the loss is in times, sure you have only one choice, hold.

Holding them can cause you more loss if current loss is < 50%. More tokens in circulating supply, more loss for you because more sellers will dump their tokens.

[mezzaluna]

Its really not your fault for trusting your gut and its just the way how Cryptocurrencies work. One day your at the top and then the next day your in the middle. Its still a good thing that you have tried another way to invest your money and now that you have learned about that, its possible to create more gains in the future with the newfound knowledge that you have learned about. DeFi is still being utilized to its potential and some investors gained profit from it instantly but not everyone can benefit from it the same way so I guess another thing that you should do is look for the best Alternate Cryptocurrency there is and invest on it.

[btc78]

I believe that experience matters here mate , Value your experience and don't feel that much because Bitcoin will climb up more and more so there is never too late , Just think that you have spare some time in market.
and also you should be thankful that you still have your funds and not totally Gone.
we commit mistakes specially in this market so yeah check it back and enter bitcoin , as 50,000 is on the way now.

[MrcMrc]

That is very correct I sold my bitcoin when is touched $30k and boom in one week bitcoin got to $40k+ and I regretted my decision to sell rather then holding now I am experience never to sell bitcoin just to invest in some over hype project with no reputation as bitcoin.

[Jawhead999]

I AM HODLING

After you've done about your mistakes by convert your Bitcoin to DEFI token, do you still earn profit? I hope you still get some profit instead of loss.

Well... I believe many peoples are doing similar mistake like yours, they sell too quick or convert to stable coin before the price at the peak. But well, we can't know when the market will reach the ATH and when the market will crash. So I think you don't need to regret from your mistake, take it as a lesson.

[okissabam]

Well that’s what they say, lesson learned. Most of us had experienced somewhat the same thing and even bought bitcoin when it was at its peak and thought investing it to other coins would make us gain profit. But that’s okay, it’s a learning experience for you and for newbies that if ever you had bought bitcoin at a very reasonable amount, you should hodl them and just wait until you fee like checking if you truly have profited from the price you bought it.

[bakasabo]

At least you got an experience of how things changes quickly on the market. Next time you will be more wise and invest only a part of your savings or will be more not receptive to selling and buying other new altcoins.

You should not worry much about missing opportunity of holding and increasing the cost of your portfolio. Because could have easily sold your Bitcoin at the price of $47k, when in next few days it would jump to $50-60k.

[blckhawk]

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

I don't see any problem with it though because first of all, you make gains out of it $32k is a pretty fair price. Secondly, no one will expect that Bitcoin would grow this much since we have seen Bitcoin for a couple of weeks hovering around $30-$32k, and now after Elon's and the rest of the large investors showing their support on Crypto especially on Bitcoin it now suddenly pump. Both can be profitable in their own way but I would admit that in this kind of situation HODL is the best thing to do.

[TribalBob]

I don't think there is anything wrong, man, trying new experiences is normal and you want to know how much you earn from farms, but at the same time bitcoin has risen sharply so it makes you feel like someone who has a big mistake in choosing one action that causes big losses
from here you can find out what is the best right? HOLD with existing coins is the most important thing

[irixo10]

According to you, you took some loses and some gains, all these are seen as experiences and lessons at least you took some gains, what if you didn't, that would have been a terrible experience in all. Also, what if you had held and the price of Bitcoin dumped while those DeFi you invested in pumps, I don't think you will say they are useless, hence I see it as experience all the same; moreover a lot of people never believed that Bitcoin would reach $47k. Nevertheless, I think what you would have done is, holding some Bitcoin no matter what because it is the best to hold at all times, while Investing some of it in other projects since you already had it in mind to do so.

[BrewMaster]

you are not the only one with this regret.
every year when there is a new altcoin related hype a lot of newcomers fall for that hype and end up losing a lot of money after a while. your losses took place in a much smaller timeframe but it usually is longer. then they eventually give up bag holding altcoins and make a complete migration back to bitcoin.
this is why we always see massive altcoin dumps whenever bitcoin price rises.

[Karartma1]

Even my tiny shitcoin holdings percentage allows me to lose big (in bitcoin equivalent) whenever there's a massive spike up, like the one we all saw recently.
And consider I am 95% on bitcoin!
I can't and don't want to imagine what other people might have seen if heavily invested in altcoins. Maybe they don't care about the btc price of their holdings and only look at the fiat equivalent: I don't care about it, I only want to preserve my btc stash!

[chicken65]

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Don't feel bad. I have done a lot worse.
These days I HODL some BTC regardless of price and have a fund for trading on which I lose about as equally as I gain. 

[chicken65]

Even my tiny shitcoin holdings percentage allows me to lose big (in bitcoin equivalent) whenever there's a massive spike up, like the one we all saw recently.
And consider I am 95% on bitcoin!
I can't and don't want to imagine what other people might have seen if heavily invested in altcoins. Maybe they don't care about the btc price of their holdings and only look at the fiat equivalent: I don't care about it, I only want to preserve my btc stash!

Ahh yes, give me those ancient times of 2014 when we gained far more from Alts than BTC.