WHEN WAS YOUR WORST MOMENT AND CHALLENGE WITH BITCOIN ?

[tbterryboy]

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.

What do you mean by half of your existence? Was it money or your self-consciousness? But, it could be true since many of us can easily trust a thing and we put most of our life savings with it. If you just joined last year then that might be your first challenge in bitcoin but I think there are years where the dip is worsen than that.

It was this year actually when btc drop more than half of its price but last December I think the lowest of btc was only $40k to $50k. You may lost most of your money but that is only temporary as long as you didn't sell your bitcoin. If only you will hodl it and wait for the market recovery then you will be just fine.

[CryptSafe]

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.

What do you mean by half of your existence? Was it money or your self-consciousness? But, it could be true since many of us can easily trust a thing and we put most of our life savings with it. If you just joined last year then that might be your first challenge in bitcoin but I think there are years where the dip is worsen than that.

It was this year actually when btc drop more than half of its price but last December I think the lowest of btc was only $40k to $50k. You may lost most of your money but that is only temporary as long as you didn't sell your bitcoin. If only you will hodl it and wait for the market recovery then you will be just fine.

Well I think most people see things that way in the sense that they feel so comfortable and confident in a system or process and fail to taking caution while hopping in.  Looking at his situation, if he still hold, I think he would recover the next bull run but if he had panic sell, then it is done for him.

[maydna]

~snip~

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.

Indeed. I think a lot of people have been scammed by the various programs that are offered to us and that's because we don't look for more information about it. This makes us tempted to get a lot of returns in a short time when there is no big return in a short time. And what we have got will be lost along with the scam while we will not get any refund. And if new members can learn from the experiences we have had, they don't have to experience it themselves because they already know what they have to do.

[doomloop]

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.

I had something similar, there was a website where you could sell gaming stuff, and I sold accounts, not counter strike, it was an online mmorpg where I sold my character and I earned bitcoins with it, this was so long ago that I got a few bitcoins in return, but it was easy step and you could sell to anyone in the whole world which made it great for me, I disliked using paypal for the fact that buyer could have asked for his money back, and I would be out both my account and my money, so I used bitcoin instead. Since those days I have been here, for nearly 10 years and so far it has nothing but best for me, had some down days, but overall it has been amazing.

[CryptSafe]

My worst moment on Bitcoin was when my friend invite me to do faucet and collect satoshi for a week then he refers me on investment scam that double your investment after 1 week. I wasted all my time and effort collecting those satoshi which is around 0.15BTC+ on an investment scam that my friend refer to me. I become hesitant on Bitcoin investment after that until I discover this Bitcointalk forum and learn the real knowledge about Bitcoin.

I have come to realize that people easily fall for scam as a result of poor research and get rich quick mentality. Courtesy demands that as a novice or new bee venturing into a new Enterprise, you should have it in mind to make enquires about what you are about going in for but the reverse is the case here. Some feel they know it all so therefore do not even bother to do the needful and as a result of there ignorance, they fall prey for scammers who do away with their had earned resources with ease. This issues of scam is not only limited to Bitcoin and Crypto it cuts across all divide. It is now a habit in the society where some individuals does it for a living and at their comfort, defraud people with a tactics of getting double of your investment which in the fall sense is not possible to get back your investment with almost %50 interest within a short time interval. Now I ask how come victim of all these scams don't think before they get involved in such not to talk of asking questions. 

[wxa7115]

My worst moment on Bitcoin was when my friend invite me to do faucet and collect satoshi for a week then he refers me on investment scam that double your investment after 1 week. I wasted all my time and effort collecting those satoshi which is around 0.15BTC+ on an investment scam that my friend refer to me. I become hesitant on Bitcoin investment after that until I discover this Bitcointalk forum and learn the real knowledge about Bitcoin.

I have come to realize that people easily fall for scam as a result of poor research and get rich quick mentality. Courtesy demands that as a novice or new bee venturing into a new Enterprise, you should have it in mind to make enquires about what you are about going in for but the reverse is the case here. Some feel they know it all so therefore do not even bother to do the needful and as a result of there ignorance, they fall prey for scammers who do away with their had earned resources with ease. This issues of scam is not only limited to Bitcoin and Crypto it cuts across all divide. It is now a habit in the society where some individuals does it for a living and at their comfort, defraud people with a tactics of getting double of your investment which in the fall sense is not possible to get back your investment with almost %50 interest within a short time interval. Now I ask how come victim of all these scams don't think before they get involved in such not to talk of asking questions. 

The most simple explanation for your question is that they actually believe that they do not really need to study the markets or to do their due diligence in order to obtain profits, I know that it does not make sense for people like us but that is just the way they think.

Now this is not entirely their fault, if you take the time to watch a few YouTube videos about how to invest in this market you will see that they make it sound as if it is something incredibly easy to do, people believe them and begin to think that making money in this market is easy, and when they finally decide that is the moment to invest in this market they do so without any kind of caution, they invest in a scam and as you may guess they lose their money, only then they begin to question the information they have listened on those videos, but there is not too much of a point on doing this since they have lost all their capital already.

[len01]

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

my worst experience was in 2018 i bought bitcoin at a price that can be said to be cheap and i still kept some BTC until 2021 yesterday. and after i found out the price of bitcoin reached $60k i came back here and sold half of it i bought a house and a few cars after that i still saved a few more bitcoins for the needs of opening a business and buying some land in my city. i have also told my wife and my parents they are happy and hope i will sell everything soon and start doing business by buying and selling houses in my city. but in fact i put off selling the rest of my bitcoins hoping it would be even higher the price actually went down even more in price and i really regret not selling everything and buying again when the price is low as it is today. and that's when i was really disappointed that i hadn't sold all the bitcoins that i saved and all my goals in opening a house buying and selling business here failed because the money was not enough.
and until now i still feel very disappointed but i did not sell everything i still hold and buy again to wait for bitcoin to print higher ATH in the future

[Issa56]

My worst moments of bitcoin was early 2020 during the bear market, i started trading bitcon not long before the bear market started which was caused by Covid19 pandemic, I was scared because i have never experienced that kind of market before, bitcon dumped hard and I was thinking if bitcoin will ever recovered, i couldn't sell because I was really at great lost so the only thing I could do is just to leave it in my wallet and I just overlooked it, i just assumed I was not having any money in my wallet, actually it was not really easy but I have the believe bitcoin will bounce back then, so the only thing I could do is just to ignore the coin in my wallet. Before the ending 2020 bitcoin suprise me and bounced back hard, so my advice to every newbie is that no matter how bitcoin dump, just learn to hold and it will definitely bounce back with time.

[CryptSafe]

My worst moments of bitcoin was early 2020 during the bear market, i started trading bitcon not long before the bear market started which was caused by Covid19 pandemic, I was scared because i have never experienced that kind of market before, bitcon dumped hard and I was thinking if bitcoin will ever recovered, i couldn't sell because I was really at great lost so the only thing I could do is just to leave it in my wallet and I just overlooked it, i just assumed I was not having any money in my wallet, actually it was not really easy but I have the believe bitcoin will bounce back then, so the only thing I could do is just to ignore the coin in my wallet. Before the ending 2020 bitcoin suprise me and bounced back hard, so my advice to every newbie is that no matter how bitcoin dump, just learn to hold and it will definitely bounce back with time.

That was a nice move from you. Holding is the only option or answer if you may wish. At that point in time, selling is a big risk intentionally engaged. So therefore, it would be nice out or it was nice you hold back waiting for market recovery because embarking on that trade at that period is more or less a suicide mission. Keep holding, gradually the market would gradually pick up. In less than no time.

[qwertyup23]

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 ?

As someone who is fortunate enough to have experienced this forum back in 2017, I had my fair share of ups and downs. Mostly, it was due to the natural volatility of the price of BTC especially back in the first quarter of 2018 when its price reached an ATH of around $19,000. But one those worst moments was when I invested in a ponzi-scheme (where I had no idea that it was a ponzi scheme) and I got scammed around $200 worth of BTC (probably worth more now compared before).

Though that may be the case, I quickly got to my feet and continued my passion in exploring this innovative world. Eventually, the lost BTC was never recovered but it taught me something that cannot be bought by money- which is experience.

[Issa56]

That was a nice move from you. Holding is the only option or answer if you may wish. At that point in time, selling is a big risk intentionally engaged. So therefore, it would be nice out or it was nice you hold back waiting for market recovery because embarking on that trade at that period is more or less a suicide mission. Keep holding, gradually the market would gradually pick up. In less than no time.

I don't think any dump can happen that will make me panic again, the reason why I was disturbed was because I was still new then and I haven't experienced that kind of market condition before and I don't really know much about cryptocurrency yet, I was still learning but now I know no matter how bitcoin dump it will definitely bounce back, I know it might take time but it will bounce back. Whenever I see bitcoin dump am always happy because it's always giving me opportunity to buy more bitcoin at cheaper price. What I think everybody should learn is how to Hold, no matter how bitcoin dump just learn to Hold.

[SirLancelot]

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...  

Similar thing happened to me as well, I made a good chunk of money back in the day when I profited, and then got upset when I saw that it could have been higher. I do have a small amount of regret, I could have probably kept just 1 bitcoin, I could have still sold all of my coins to pay off debt and have a much better financial life, but could have still kept 1 bitcoin and that way today I would have 20k+ dollars which would be enough to have a good plan B in life just in case anything bad happened.

Unfortunately I did not and now I am having trouble getting it back. It's fine though, at least I learned about bitcoin and I am happy about that.

[Slow death]

well a few years ago i sold my stuff and bought bitcoins, it turns out when i bought bitcoins the price was 15000$, i spent some time with them but then i got sick and sold, for the price of 13000$, but what else left me sad is that as I was sick I couldn't go to the bank and buy more bitcoins, and the price of bitcoin started to rise a lot to the point of reaching 55000$, that hurt me a lot, because if I hadn't sold and bought more bitcoins I would have made a big profit, and to this day I think about this situation. because it didn't even take months from my sale and the big price increase. are things that make people wonder and if you hadn't sold, how much profit would you have? anyway the price today is at 20,000$ so I'm taking the opportunity to buy and not repeat the same mistake

[CryptSafe]

well a few years ago i sold my stuff and bought bitcoins, it turns out when i bought bitcoins the price was 15000$, i spent some time with them but then i got sick and sold, for the price of 13000$, but what else left me sad is that as I was sick I couldn't go to the bank and buy more bitcoins, and the price of bitcoin started to rise a lot to the point of reaching 55000$, that hurt me a lot, because if I hadn't sold and bought more bitcoins I would have made a big profit, and to this day I think about this situation. because it didn't even take months from my sale and the big price increase. are things that make people wonder and if you hadn't sold, how much profit would you have? anyway the price today is at 20,000$ so I'm taking the opportunity to buy and not repeat the same mistake

In this case, yours was as a result of urgency which required you taking good care of your health. There's a saying that says "health is wealth" it's only a living being that thinks of what he would do next so you didn't make any mistake taking care of your health as it is an utmost priority but I believe if you had somebody to buy for you then as you couldn't do it yourself then as a result of your sickness it would have given you a good edge in savings. Well it's not your fault. If you had been fit you could have done that yourself but it's not late now. Currently the price is down though you can still get more of it and wait for the next bull run.

[Esther C]

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 ?

My worst experience was my first encounter with buying Bitcoin. I used to quickly rush to sell my Bitcoin when there is a dip and hurriedly buy when there is a rise. Of course, this is a perfect recipe for loss in crypto. Overtime, I’ve learned that with Bitcoin you should just HOLD. Don’t panic to leave a trade or get in.

[samuraijin]

My worst moment was in the year that Bitcoin went into free fall in late 2018, where I had to throw away so much of my bitcoins at that time, due to housing needs at the time, which forced me to sell them to survive, and even if only a little to make ends meet. putting it aside, at least it didn't sell out my bitcoins, and giving up some of the BTC I've sold at that time, and seeing bitcoin grow back in 2020, it hurts to see the harsh reality when Bitcoin touched nearly 1 Billion...

[LUCKMCFLY]

moments, challenges, regrets, as well as my bad experience in bitcoin, namely I didn't sell it in 2021 when the bitcoin price was high if I'm not mistaken it was around 60000 dollars. because I thought bitcoin would break through to 120000 dollars, so I was too greedy at that time, even though at that time if I sold it I would make a big profit, because I bought bitcoin from the lower price, which was around 40000 dollars. and until finally there came a bear market, and at that time I didn't sell it because according to my predictions and analysis there would be a higher price bounce and I didn't think there would be a very deep bear market until finally the bitcoin price went down, and I was very frustrated because in terms of the price of money, I lost, until finally I decided not to sell it, and until now I did not sell it because I believe that in the future there will be a bigger bull market.

My worst moment with BITCOIN is when I bet everything I had, which was approximately 0.010BTC that I had collected and I lost it playing dice on freebitco.in, the truth was very hard, because it was difficult for me to reach that figure, then I bought 1mbtc and that I managed to take to 0.006mBTC playing, I did not risk it anymore but I left it in Hodl mode, but the biggest challenge was risking it all again using the martingale, but in the end I was left with the same balance and a little more, from that moment I did not play with it again, I just learned that I had to use very few sats for casinos and everything that had to do with gambling, because it is very easy to lose, but it is super fun, I think that has been my biggest risk, no It's a lot, I know that people who do have BTC and risk it, I don't know what that feels like, because I've never had 1btc either, I've been close but life circumstances always arise that have to be removed little by little.

[Jeger.Kiting]

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 ?

My worst moment was when I got Bitcoin and I kept wasting Bitcoin by exchanging it for fiat and its value was very small, and that's where I used it to shop for snacks at one of the food stores, after that I kept getting Bitcoin and I did the same thing for exchanging it back for fiat, there I never thought that Bitcoin would grow so big and have such good value, so I kept throwing Bitcoins to buy something I needed. As time went on in the next few years when I saw the development of Bitcoin I felt sorry for wasting Bitcoin just like that. Now I can only watch the price of Bitcoin and it leaves me completely devastated and can't do anything about anything else.

[BALIK]

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 ?

As someone who is fortunate enough to have experienced this forum back in 2017, I had my fair share of ups and downs. Mostly, it was due to the natural volatility of the price of BTC especially back in the first quarter of 2018 when its price reached an ATH of around $19,000. But one those worst moments was when I invested in a ponzi-scheme (where I had no idea that it was a ponzi scheme) and I got scammed around $200 worth of BTC (probably worth more now compared before).

Though that may be the case, I quickly got to my feet and continued my passion in exploring this innovative world. Eventually, the lost BTC was never recovered but it taught me something that cannot be bought by money- which is experience.

As we look back on 2018, I think most of us who have been here before have a lot of regrets about the moments of 2018. Most of the projects at the time were mainly ponzi and we were all running those projects and very few people were interested in bitcoin. If it comes to ponzi projects, the bitcoinnect project is probably the biggest ponzi project we've ever had. Its frenzied growth and one death caused an entire market crash that caused everyone to lose almost everything. I myself lost a lot and left the market shortly after, I had a moment of total meltdown, as I lost everything with the ponzi projects at the time. This can be considered as my biggest mistake when entering the market.

[CryptSafe]

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 ?

My worst moment was when I got Bitcoin and I kept wasting Bitcoin by exchanging it for fiat and its value was very small, and that's where I used it to shop for snacks at one of the food stores, after that I kept getting Bitcoin and I did the same thing for exchanging it back for fiat, there I never thought that Bitcoin would grow so big and have such good value, so I kept throwing Bitcoins to buy something I needed. As time went on in the next few years when I saw the development of Bitcoin I felt sorry for wasting Bitcoin just like that. Now I can only watch the price of Bitcoin and it leaves me completely devastated and can't do anything about anything else.

I guess you just had no knowledge of what you were holding then and maybe you just joined the system newly thinking btc has no futures.  I believe if you had done a proper research on it, you would not have had to spend it that much even though you were to spend it, it would have being a little of it although there are other variables which I can not tell you saw or went through that triggered you to sell yours.