The mistake I made some years ago

[dansus021]

I just couldn't help myself to laugh and be sad again because I did have the same mistakes way back 2016. Truly, there's a lot here in this forum that had committed the same mistake we did because we just don't really know bitcoin's future and I remember that at that time, scams are just too many to mention that we couldn't figure out anymore which investments are really profitable and true.

  Righttt you feel it too hahahah. Oh, by the way, there is dozen of HYIP (High Yield Investment Program) that is obviously a Ponzi Scheme back couple of years ago that offer up to 100% in a week but fool me I do believe that and lose a lot of it, there is actually site that provide hyip monitoring and maybe there is still one or two out there  so better stay out guys there is no getting rich quick 

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[wxa7115]

I've gone through all the comments and I want to say thank you guys for stopping by and dropping your thoughts on the subject. I would like to correct the impression that I'm not crying over spilled milk, Yes... I regretted it and I've learnt my lessons. I only lost a couple of bucks but some persons here lost more than I did. Why I shared my sad experience is to discourage some persons out there who might want to make the same mistake because I don't think ponzi scheme is ending anything soon, it will always be rebranded, repackaged and resold to unsuspecting individuals. Instead of investing in such a scheme, it would be more profiting and rewarding to invest in Bitcoin. My post is also to encourage Bitcoin hodlers to treasure their asset and hold on to it because it's going to be worth more in the future.


 

It is nice to hear from someone which learned from their mistakes as there are many newbies out there which make the mistake of investing in those Ponzi schemes, and despite being scammed they keep investing in them as they are too greedy to give up the illusion of making money in this way.

There are also people that are too hard on themselves and they either leave the market completely or they are afraid to invest in anything, and this is a mistake too, after all while there are some users which have never lost a single satoshi, they are the exception rather than the rule, most bitcoin users have lost some money at some time, so be glad you learned this lesson for cheap as there are many others which paid a fortune to learn the same lesson as you.

[yazher]

No one knows when Bitcoin will arrive anywhere. But those who can risk and hold Bitcoin for a long period of time are the ones who mainly see the profit. When the price of Bitcoin was steadily increasing and the value of one Bitcoin crossed $60K, many thought that Bitcoin might touch $100k. With this in mind, many people bought a large amount of Bitcoin. But since then the market started going down gradually So far the market has remained at that bottom But those who invested in $60K are now facing huge losses But if they can be patient for some more time then I think they can recover their losses and earn some profit.

Nothing they can do right now but to wait for months or years to recover back what they have lost and I'm pretty sure that those who invested some money they cannot afford to lose, has been regretting all these days and might gonna consider to withdraw despite of their losses. Nevertheless, that's just how life goes by in the crypto industry, either you lose or you win in your chosen investment.

[Sebas.tian]

I really missed that golden opportunity to get it at such rate. Well the good news is that... The bear market is a good time to fill my bags and I got myself some BTC and I'll hodl unto it. You never can tell what price BTC could hit in the coming years.

It's a good idea OP not to allow what happened in the past to stop you not to buy Bitcoin in this bearish season, because this is the best season many investors used to get it right with their investment. I think, another opportunity is here again for those that missed the opportunity to embrace this period to purchase Bitcoin and hold for like 2 or 3 before he or she can sell to make a good income. I believe, Bitcoin price will definitely hit higher in a way  both long term investors and short term investors will have access to achieve massive income in the future.

[Oasisman]

hahaha believe me dude your mistake can be a lesson for everyone. and you are not alone here I bet there is dozen of people who like you and I have same mistake Im totally sell of my bitcoin even bitcoin not reach 1000$ around 500-600$ and i have almost 5 BTC in total  and not touching crypto for 4+ years and Im back in 2020 and broke but hey Never losing a hope right, and Never Try Never Know Right 

I just couldn't help myself to laugh and be sad again because I did have the same mistakes way back 2016. Truly, there's a lot here in this forum that had committed the same mistake we did because we just don't really know bitcoin's future and I remember that at that time, scams are just too many to mention that we couldn't figure out anymore which investments are really profitable and true.

True story!
I know the OP is not alone to this. I've seen similar stories and that was way back before 2015 I guess. There were a group of crypto enthusiast who offers free seminars and lecture regarding cryptocurrency and it's functions, but at the end of the lecture, they will offer you an investment options with their own project/coin, which eventually turned out to be a pyramid scam again. I don't know how they have resolved that case, but one thing is for sure, not so many people got scammed during those days, because cryptocurrency wasn't as popular as now before.

[xSkylarx]

I just couldn't help myself to laugh and be sad again because I did have the same mistakes way back 2016. Truly, there's a lot here in this forum that had committed the same mistake we did because we just don't really know bitcoin's future and I remember that at that time, scams are just too many to mention that we couldn't figure out anymore which investments are really profitable and true.

  Righttt you feel it too hahahah. Oh, by the way, there is dozen of HYIP (High Yield Investment Program) that is obviously a Ponzi Scheme back couple of years ago that offer up to 100% in a week but fool me I do believe that and lose a lot of it, there is actually site that provide hyip monitoring and maybe there is still one or two out there  so better stay out guys there is no getting rich quick 

It made me laugh to imagine that while in the investment, you are waiting a few days for your pay and are beginning to consider how you will spend it or if you want to reinvest it. But I can't imagine that those scammers before were really smarter than us and were able to persuade us, and also, the awareness before of HYIPs was not as strong as it is now, so everyone of us will really say, "Don't be fooled by that as it is a scam." But, once again, that's a good starting point for us to learn more about how to earn bitcoin, and it's not an investment as we previously thought.

[Fivestar4everMVP]

To cut the story short the pyramid scheme turned out to be a scam and I lost my BTC.

This sentence i quoted from the OP is actually misleading, some persons might read this and think that there are actually some pyramid schemes that are legitimate.
Every pyramid scheme are all scam, this is why they are called pyramid scheme in the first place.

Anyways, this is a very popular way most of us lost our precious bitcoin back then, most especially those from the African countries, it is really disappointing when i try to remember the amount of Bitcoin i actually lost to this type of scheme, and thinking about what they are currently worth is even disheartening, but all the same, it has happened, and we've learned from it, Bitcoin price is currently cheap when compared to its previous all time high price, there is still opportunity for us to accumulate bitcoin to the best of our financial ability.

[klidex]

No one knows when Bitcoin will arrive anywhere. But those who can risk and hold Bitcoin for a long period of time are the ones who mainly see the profit. When the price of Bitcoin was steadily increasing and the value of one Bitcoin crossed $60K, many thought that Bitcoin might touch $100k. With this in mind, many people bought a large amount of Bitcoin. But since then the market started going down gradually So far the market has remained at that bottom But those who invested in $60K are now facing huge losses But if they can be patient for some more time then I think they can recover their losses and earn some profit.

The massive adoption and purchase by investors is no guarantee that Bitcoin will continue to rise in price.
That's why I often say that the price of Bitcoin is determined by Bitcoin itself, no one will be able to control it, and Bitcoin is the only cryptocurrency asset whose price is not centered by anything and anyone.
If the buyer is a large investor and has extensive knowledge of Bitcoin and crypto, even though the market is falling and Bitcoin is going through a phase where the price reaches its lowest point then it is clear that they can be patient and continue to hold their assets in the long term until the price of Bitcoin can be corrected reaching its new highest ATH.

[Nrcewker]

To be honest no one during 2016, knew that Bitcoins Will really turn into a big deal or an asset. Many of us just invested in Bitcoins due to the Digital Goods or when necessary we bought some Bitcoins. So yes if you didn’t fell for that scam at that time, by now you have sold it only. Yes I remember that back in those days these types of scams were pretty famous. Cloud Mining, Level Investments were the most scams in these crypto times. Always avoid these type of fishy investments. Currently take advantage of the bear market and if possible buy as many Bitcoins you want. In future definitely you will sell these in high price.

[TheUltraElite]

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there is actually site that provide hyip monitoring and maybe there is still one or two out there  so better stay out guys there is no getting rich quick 

Truly I could never make myself believe how these hyip monitoring list sites made money to keep doing it, but then I found that those web pages were flooded with scam sites peddling their bullshit. I gradually understood that the referral commission that these websites make is way more than what they invested to get the web page running. Hence they continue to do so and the extra comes in as profit. Thing is that the owners of these sites know that the HYIPs are scam but they only care about money and not morals.

Such mistakes have been common with many users, but it is important to now forget them and remember only the lesson for that will help them avoid scams in the future but legitimately make money as well.

[xSkylarx]

To be honest no one during 2016, knew that Bitcoins Will really turn into a big deal or an asset. Many of us just invested in Bitcoins due to the Digital Goods or when necessary we bought some Bitcoins. So yes if you didn’t fell for that scam at that time, by now you have sold it only. Yes I remember that back in those days these types of scams were pretty famous. Cloud Mining, Level Investments were the most scams in these crypto times. Always avoid these type of fishy investments. Currently take advantage of the bear market and if possible buy as many Bitcoins you want. In future definitely you will sell these in high price.

2016 is the year of the ponzi scheme, and 2017 is the year of cloud mining, in which even mobile phones can mine via browser and others will purchase powerups to increase hash power. Also, bitcoin was inexpensive at the time. I remember those times and they made me laugh; I was once scammed in a ponzi scheme and never tried it again, nor any other seemingly too good to be true investments. Though, for sure, we learn from them, so it is still a good move for us as long as we have a lesson that we get.