WHEN WAS YOUR WORST MOMENT AND CHALLENGE WITH BITCOIN ?

[virasog]

Early on I made some bad investment decisions with alts and various projects within the cryptospace. No breaking losses, but a waste nonetheless, especially since those decisions that did turn out profitable were in hindsight not profitable enough to justify the risk. Waking up to a project turning out to be a scam, or at least not as groundbreaking as expected -- not a good feeling.

With Bitcoin itself though I just watch the ebb and flow of the markets. I watch them closely and with great interest, mind you, but at this point lamenting about missed buying or selling opportunities feels like complaining about the weather. So no bad moments with Bitcoin, but a few with the cryptospace surrounding it.

Similar to HeRetiK, early on in my Bitcoin experience I got involved with the ICO craze and
traded some of my precious Bitcoin for what I thought then would be worthwhile projects
only to realise a year or so later they were useless. I - like many others of the time realise
now that Alt coins dont last ^{with the exception of a handful of useful ones, like Litecoin and Monero.}

The second bad experience was getting involved in some HYIP scams which at the time
I wasnt aware about, that was a big learning curve and luckily I was a ^tinybit skeptical going
into it and only lost a very small amount of Bitcoin

I also had a similar bad experience but i did not buy in the ICO directly. I remember the time when binance used to do IEO sort of thing in early stages and when those coins listed on the exchange, they pumped big time. My mistake was that i invested a big amount in a binance IEO listed coin as soon as it was listed on the exchange. Unluckily the coin was dumped too hard and i have lost the investment. Although since my buying was in the spot, i held the coin but later sell it at a loss as i needed money to trade and do other stuff.

[cheezcarls]

I believe everyone here onboard this platform once had a very  though and challenging moment with bitcoin at the initial start. At first it seems unrealistic then looks like a scam but at last it was a real deal. sharing our experiences and worst moment might just help others build on and also bring us back to the very first beginning of our journey into bitcoin then. This would also help us evaluate how far we have gone and also creates room for more on-boarding of more adopters. Sharing our experiences on how we started would also encourage more to be steadfast  in the system. This would go a long way in helping others at the verge of giving up on bitcoin.

How was your worst moment and experience like and how were you able to handle it then ?

I don’t really have some worst moments with Bitcoin. I just had doubts during the first time when I was introduced in 2014. But I ignored it for like more than 3 years until it reached $10k for the first time.

I also have regrets in not buying Bitcoin early though. When I sold it quickly because of having “no hope” for it to grow, then a week later it skyrocketed to its new all-time high and I was like furious lol.

Right now, I am doing DCA with Bitcoin despite the uncertainties of its price. I’ll just have to accumulate wealth as much as I can to prepare for the big rain later on a.k.a 2024 halving.

[CryptSafe]

Wow!!!
This is expository to new bees onboarding the system and platform. This could guide and give them hint about how the system works from reading people's experience and encounter. With these comments I believe the many would learn from it as there's a saying that says experience is a teacher. I just wish everyone on this platform could just give their experience and encounter here so as many would see and know how it feels being into a system newly.

[michellee]

The worst experience I ever had was when I owned bitcoin and used it to invest in cloud mining a few years ago. But unfortunately, cloud mining became a scam after a few months and my initial capital couldn't be returned and I lost a lot. I think that decision is wrong to use some bitcoins to invest there because we will not be able to get the return we want.

Since then, I have forgotten about cloud mining and prefer to use my bitcoins for holding or trading. But it was indeed the worst experience to be avoided at all times.

[fullhdpixel]

This would also help us evaluate how far we have gone and also creates room for more on-boarding of more adopters. Sharing our experiences on how we started would also encourage more to be steadfast  in the system. This would go a long way in helping others at the verge of giving up on bitcoin.

It is understandable that most people talk about the times that they missed out, after all just a few hundred dollars back in the day could have been millions of dollars today and that is a big deal, a big miss, something you could have changed your entire life and be in a new trax bracket and you could have lived a very happy life.

However, it is also good that it gave people an understanding of "you are either in or you are out" idea which means that you have to be risking something and getting and collecting assets, in order to even have a chance. May not make you rich that much anymore, but at least you would be having a chance, you can't win the lottery if you do not buy a ticket.

[lienfaye]

How was your worst moment and experience like and how were you able to handle it then ?

Worse experience is when I got scammed on facebook where I invest using Bitcoin for pay-in/pay-out. I'm just a newbie that time and dont understand Bitcoin yet since my attention is focus on the investment where I joined. After losing my money, that's how I regret spending Bitcoin instead of holding it. After that I decided to get to know about Bitcoin and learn how I can take advantage the volatility. Good thing I have someone who guide and teach me on how it works. I have many bad experience but the good thing about it is I learned a lesson to value Bitcoin more.

[worle1bm]

I would say the appropriate term for me is regret of not investing in bitcoin at early stage even though I was familiar about it but didn't give it much importance and now it has turned out to be so big and influential.Some say that they miss not selling at the top and that's also right because it was ATH and you could have made huge profits but for me it's not worst challenge because I firmly believe we have many more price levels to cross in long term.

[jesselui]

My worst memory was when half of my existence disappeared in one day. If you remember there was a sudden drop last year, bitcoin suddenly dropped 30 percent. It fell again the next day so I lost most of my money.

[boyptc]

My worst memory was when half of my existence disappeared in one day. If you remember there was a sudden drop last year, bitcoin suddenly dropped 30 percent. It fell again the next day so I lost most of my money.

It's a paper loss if you haven't sold on that day.

But if you sold then that's for sure a big loss for you and you've just chosen to stop loss but it's not appropriate anymore because it's like all that you've got disappeared on that day.

I wouldn't choose that if I'm on your situation.

What were you holding on that day then?

The best bull run happened last year and we're probably going to have years again before we see it.

[Kakmakr]

I think one of my worst moments was when I bought bitcoins for $300 and I sold most of it, when the price reached $1000+ .... I only felt bad when the price skyrocketed to $18 000+ and then again to $60 000+ 

I do not have any regrets about the decision because I made a lot of profits on those first coins and it made a significant impact on my financial situation. It would have been so much better, if I held all those coins until it reached $60 000+....but I learnt some very valuable lessons from this... 

[Reatim]

How was your worst moment and experience like and how were you able to handle it then ?

It is 2020 , when the price suddenly drops so Low that I almost lose my faith in Bitcoin , I bought at 9k then fell down to 4k? and the saddest part is that it is when the pandemic strikes that almost everyone needs fund to survive ,

I withdrawn half of my investment to have food on the table , But luckily I did not sell everything because year after? the price strikes high and i recover all my losses and even earn more from that said losses.

this is the most memorable and will never be forgotten time in my whole bitcoin career.

My worst memory was when half of my existence disappeared in one day. If you remember there was a sudden drop last year, bitcoin suddenly dropped 30 percent. It fell again the next day so I lost most of my money.

wait, sudden drop last year? i don't remember that there is a damn bad dump happened in 2021 instead it is 2020 when the market really fall hard .

[Flexystar]

Well at first understanding what it is was challenge for me. The problem was with my "surrounding's". Here my friend circle and anyone who knew bitcoin in the initial days was little skeptical about bitcoin. Being from non technical background understand blockchain was far away thing however, looking at bitcoin as currency was little in our court. We used to discuss about it, we always used to make plans on buying them so that we can have fun sending them to each other. Our challenge was whether to believe 100% on bitcoin or not? The word was rarely used in our locality and if used to ask elderly people then they used to say. "what do you mean by bitcoin". Lolz. It was like the word itself was alien to them. You see it was the issue in using bitcoin. Questions like whether I will be able to get back my money? Where else I will be able to send it if not shopping centers etc.

[Strongkored]

How was your worst moment and experience like and how were you able to handle it then ?

The worst moment was when BTC was in a bullish trend and could make hundreds of dollars in a day trade made me think that this would continue in the long term without realizing that I had to be ready to get out of the market before things got bad and what was gained in a bullish trade became in vain because keep hold altcoins which is trash, this is a valuable lesson for me that's investing is more profitable than trading and holding BTC is much safer than altcoins

[Oasisman]

I believe everyone here onboard this platform once had a very  though and challenging moment with bitcoin at the initial start. At first it seems unrealistic then looks like a scam but at last it was a real deal. sharing our experiences and worst moment might just help others build on and also bring us back to the very first beginning of our journey into bitcoin then. This would also help us evaluate how far we have gone and also creates room for more on-boarding of more adopters. Sharing our experiences on how we started would also encourage more to be steadfast  in the system. This would go a long way in helping others at the verge of giving up on bitcoin.

How was your worst moment and experience like and how were you able to handle it then ?

I can say, the only bad moments you'll ever have in crypto is when you put your money in an altcoin or a project that didn't even have the chance to make real value, but with Bitcoin? Nah. Worst moments with Bitcoin are only created within your own mindset. Bitcoin has been giving away a lot of opportunities for people to get financial freedom since day 1, but it's us who's always have the same problem. That's the worst moment and challenge in investing Bitcoin.

[davis196]

I can't say that I've had a "worst moment" with Bitcoin. I've sold some BTC at the wrong moment and I've been scammed with small amounts of BTC, which was my fault. Nothing too dramatic or life changing. Maybe my "worst moment" with Bitcoin is yet to come. I hope that such moment doesn't come. Even if I have a bad moment with BTC, this would most likely be caused by scam crypto companies or crypto scammers trying to steal my coins. Bitcoin has nothing to do with this. I've had bad moments with ICO tokens back in 2017, when ICO tokens were considered "the next big thing", but they ended up being scams.

[Mauser]

How was your worst moment and experience like and how were you able to handle it then ?

There already have been quite a few bad moments with bitcoins so far that made me question my strategy with crypto currencies. First of all was a big step for me to decide and only deal with Bitcoins back in 2016 for my CSGO skin trading business. I was buying and selling a lot of knives back in the days and bitcoin was a good and fast way to cash out and deposit new money. By using Bitcoins I could buy skins my cheaper than the official steam prices and then use the real prices to trade for more favourable skins. When I took a break from CSGO I also sold all my bitcoins and stopped using crypto currencies all together. Now with hindsight this was my worst experience and biggest mistake when it comes to investing. The best way to handle it is to never repeat the same mistake again. This was also my motivation this year to not sell any crypto coins into the bear market. When the Ukraine Russia war started and prices were in free fall I got close to sell my coins again, but in the end I decided it's best to stick to sit it out and don't panic.

[mich]

Well there has been different bad memories and challenges which I wish I could just forget but I think about them all the time.
Buying things with my Bitcoin only to see the price become much higher then what I paid for them always hurts in the worst possibly way when the "Bull market" starts and you wish you didnt sell them.

[bakasabo]

My worst moment with Bitcoin was my lack of knowledge about transactions in network. I was unaware the difference between 1sat/byte and 100sat/byte, inputs and outputs, and did not know that transaction fee can be set manually. For a long period of time I thought that transactions might be fast/normal/slow. Even selecting slow caused me spending $30-50 while transferring $100 worth of Bitcoin. I've read all that articles, when people spend less than a dollar to transfer millions dollars worth of Bitcoin and did not understand why I spend hundred times more.

[maydna]

I can't say that I've had a "worst moment" with Bitcoin. I've sold some BTC at the wrong moment and I've been scammed with small amounts of BTC, which was my fault. Nothing too dramatic or life changing. Maybe my "worst moment" with Bitcoin is yet to come. I hope that such moment doesn't come. Even if I have a bad moment with BTC, this would most likely be caused by scam crypto companies or crypto scammers trying to steal my coins. Bitcoin has nothing to do with this. I've had bad moments with ICO tokens back in 2017, when ICO tokens were considered "the next big thing", but they ended up being scams.

Getting scammed when we have bitcoins is probably a story experienced by most people who own bitcoins because many of us try to invest in other programs but get scammed. Also, most of us have "worst moments" with bitcoin when we sell at the wrong time or can't wait for the price to the peak. It was the worst moment that most people also experienced. But at least we have learned a lot from the worst moments we experienced, not to repeat them in the future.

[CryptSafe]

I can't say that I've had a "worst moment" with Bitcoin. I've sold some BTC at the wrong moment and I've been scammed with small amounts of BTC, which was my fault. Nothing too dramatic or life changing. Maybe my "worst moment" with Bitcoin is yet to come. I hope that such moment doesn't come. Even if I have a bad moment with BTC, this would most likely be caused by scam crypto companies or crypto scammers trying to steal my coins. Bitcoin has nothing to do with this. I've had bad moments with ICO tokens back in 2017, when ICO tokens were considered "the next big thing", but they ended up being scams.

Getting scammed when we have bitcoins is probably a story experienced by most people who own bitcoins because many of us try to invest in other programs but get scammed. Also, most of us have "worst moments" with bitcoin when we sell at the wrong time or can't wait for the price to the peak. It was the worst moment that most people also experienced. But at least we have learned a lot from the worst moments we experienced, not to repeat them in the future.

Getting scammed is very terrible experience. In that case it didn't benefit you in anyway in the sense that there was no end use by which you derived satisfaction from the transaction. Your whole efforts all gone. It's very dissapointing and painful though compared to selling low buying high.
All these we have said would be helpful to new members in many ways even we too can learn from others some experience too and know how to tackle some situation if such occurrence takes place but that wouldn't be our portion.