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

[Yatsan]

We will be learning our mistakes based on late realizations as well as experience once we have gone through a tough situation on which what we have done have played a negative implication on the way we perceive things just like thinking that your money will further grow if you will pull it out from Bitcoin and putting those into DeFi. Now that you have learned it the hard way, that must serve as a lesson for you to not make the same mistake once again. It is understandable that you are seeking for progression by looking up into other ways possible but sometimes contentment will be the key to success. Although there is nothing wrong with exploration as long as you will not give all out into it.

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[Nhor1011]

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 regret instead invest again if you still have capital. That is what always said that if you invest, don't put all your eggs in one basket. Defi is not a bad at all but bitcoin is really valuable and with higher number of demands ever since. So, don't be afraid to hold and wait the right time for you o sell your bitcoin then buy again if there is any price correction. Forget the past, just move on and continue to invest in bitcoin.

[Vishnu.Reang]

I really don't understand why people get greedy and invest in various shitcoins and scams such as the DeFi. Bitcoin has given almost 10,000x returns during the last decade. Why the users still chose other projects, despite these huge historical returns? And also, Bitcoin is the original cryptocurrency that was invented by Satoshi Nakamoto. All the other cryptocurrencies have plagiarized the original idea from Bitcoin, to varying degrees. Therefore it is clear that none of these projects will be able to overtake Bitcoin.

[djangofan]

Someone needs to keep an always up-to-date "Ten Commandments of Bitcoin"  to straighten people out.   

One of the commandments could be:

Thou shalt not buy or shill a narrative-based* coin unless you have a specific reason to think it has value.


Just a fun idea.

* narrative based - see Dan Helds article: The Rise and Fall of Crypto Narratives

[xanxus.kun]

I think its not a bad move, I believe DeFi is a good investment. It will be a fruitful harvest in a few years just be patient in holding. Been planning on buying as well, its just that I am still grinding some money at the time being. Holding is the key here!

[xiboothrezi]

I think its not a bad move, I believe DeFi is a good investment. It will be a fruitful harvest in a few years just be patient in holding. Been planning on buying as well, its just that I am still grinding some money at the time being. Holding is the key here!

I'm not really sure if I have to hold Defi for the long term, as it's mostly just hype and it's getting lower and lower over time. Defi is good, but I think it is more suitable for the short term, it's like fast food, if we eat it late then it doesn't taste good anymore. For the long term, I prefer BTC or strong altcoins like eth and bnb, these are more promising.

[djangofan]

I bet Defi will be forced to re-invent after its first failure in this phase.   Same thing happened to Ethereum right?

[ene1980]

I'm not really sure if I have to hold Defi for the long term, as it's mostly just hype and it's getting lower and lower over time. Defi is good, but I think it is more suitable for the short term, it's like fast food, if we eat it late then it doesn't taste good anymore. For the long term, I prefer BTC or strong altcoins like eth and bnb, these are more promising.

I am always critical about BNB as you cannot trust them in the long run, you can anticipate changes as they have the funds but i would always choose ETH over BNB and all the hype for DeFi and NFT projects are interesting but you never know how long they will be holding in this competitive space and the investors have an ultimate aim of converting all these profit to Bitcoin. We have seen the similar trend in the past and i am hoping it will continue in the future as well.

[samsul1234]

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.

hello sir, I agree with you, for now it is better to hoard a very large amount of bitcoin so that in the future we can see bitcoin reach its peak, agriculture will only drain your energy and time

[LogitechMouse]

TBH, I did the same mistake that you did and what's worse is that I just did it a few weeks ago .
Or it isn't a mistake at all for me because I didn't regret converting it .

I converted some of my Bitcoin into some DeFi tokens and put it into pools for some passive income. Right now, I can't say that I'm losing on it but at the same time I'm not gaining that much profits on it aside from the daily interest.

Anyways, mistakes are there in order for people to learn. Just think of a sec how will the world will be if there are nobody doing mistakes. People are doing mistakes on a general basis and that is one of the ways for people to learn. Investors will be making some mistakes when it comes to investing but they will learn from it. If you are a conservative investor then just HODL. For me I'm HODLing and at the same time putting some funds into DeFi and staking coins for some passive income.

[dongyi17]

Sometimes it happened we sell it and a few weeks after it jump in much higher we do not expect, well just accept it then, and know for the fact this does not only happened to you but to others as well. despite that we all just do lose heart try and try who knows after all your trying you'll hit the jackpot...

[philipma1957]

I really don't understand why people get greedy and invest in various shitcoins and scams such as the DeFi. Bitcoin has given almost 10,000x returns during the last decade. Why the users still chose other projects, despite these huge historical returns? And also, Bitcoin is the original cryptocurrency that was invented by Satoshi Nakamoto. All the other cryptocurrencies have plagiarized the original idea from Bitcoin, to varying degrees. Therefore it is clear that none of these projects will be able to overtake Bitcoin.

I first saw it at 6 usd and this year it has past 60000 or like you say more than 10,000 to one.

but it is not going to 600,000,000 from 2021 to 2030

so many want to find a coin like doge.  it was 1,000,000 doge for under 3000 last year

and 1,000,000 peaked at 740,000 this year.

realistically if there is 400 trillion in worth for the world and btc is 1 trillion

it can only grow maybe 15x to 25x. so people want a coin with more upside.

[fileo]

I don't have Bitcoin but it is one of my dream someday. I think save the best for the last is always applicable to do in this cryptocurrencies ecosystem as we know there are a lot of defi and icos that looks promising. However, there's nothing like Bitcoin. The potential of BTC is unique and unstoppable once rapid pump take place. Save your Bitcoin.

[isaac_clarke22]

~

Dunno what the OP's goal in here. I was thinking of diversity but he mentioned that he went from BTC to Defi fully. It was a bold move of him because even getting past through 20k already was insane, and even I wouldn't think of jumping to any other coins in the market.
@OP You risked it, but I guess it didn't work in the end. Don't panic, OP. We're still stabilizing above 55k and price correction are often these days and you might get another opportunity to buy more.

[AniviaBtc]

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".

Yes, if only he could turn back time, he will surely not exchange bitcoin to enter ICO or DeFi.

The best things is to learn from his mistake and understand that bitcoin is one of the best way in order to earn profits.

Do invest on the thing that is proven and tested, and also never settle on the investment that is not that good based on other people's opinion.

Always do some research and be patient about the crypto market.

[Alucard1]

That's okay, you have tried other things that you think a useful thing, so its not your fault you just decided to try other thing and there is no wrong with that, exploring other things is a nature of human, just make it a lesson for you, there is no better than investing in bitcoin, I am also spending my time in DeFi games and some of them are really good and profitable but I always separate the money that I invested in bitcoin to the money that I am going to spend from those DeFi games.

[nutildah]

Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Sure, it's also a great investment, but in the meanwhile and if you have some to spare, spend that shit. Enlighten its existence. Fulfill its prophecy.

Thou shalt not buy or shill a narrative-based* coin unless you have a specific reason to think it has value.

Just a fun idea.

* narrative based - see Dan Helds article: The Rise and Fall of Crypto Narratives

LOL all Dan Held does is wave pom poms for Bitcoin. I'm not sure he's capable of penning a tweet outside of the maxi narrative.

His tweets always follow a formula, like "Its not what you can do for bitcoin, it's what bitcoin can do for you" and then a dozen or so bots say, "WOW. Stunning, yet so brave."

[sapnu]

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.

Too bad we need to learn in the hard way, regrets will surely come once you witness the coin you are currently investing to goes up right after you sold it. Holding is really important specially with bitcoin, no matter how long it experienced having a low price after a bull run, time will still come when its value will go high once again, you just need patiently and trust bitcoin. Those who were able to hold before up until now are surely gaining a lot of benefit right now and that is because they patiently waited and put their hopes high with bitcoin. There's still time to start again, don't waste it cause there will always be a possibility thatv bitcoin's value will keep on increasing.

[NeuroticFish]

Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Some people tend to "look back" and have regrets, some keep looking forward. Too many don't understand that's unhealthy to look back because you'll always find something you could have done different, better.
This being said, it's clear that selling Bitcoin for NFT turns out to be a bad business more often than not. But OP should (and seems to) take it as a lesson instead of regretting.

I learned the hard way that Hodling BTC is the only way. [~snip~] Just HODL and you would have more more money than anyone yield farming in long run.

Indeed. It's a valuable lesson and you've learned it.
And keep in mind that in the same way all who got burned in the ICO craze warned that NFT is not a good investment and you've ignored that, many of the next ones to come will be burned by the next similar craze, just because some don't believe the warnings and "want" to learn from own experience.

[Zemomtum]

I don't blame you guy but you need to take a risk that is well calculated. You don't go all-in for only one token, you need to diversify even though you are using your precious digital gold (BTC) for it. If you have invested 0.1 in each, that will be 10 projects and there is no way all of them will be dumped and you can easily cut off your losses.