The mistake I made some years ago

[BitcoinPanther]

Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

we have had our own share of moments like this. but what if you spend your btc at important things like bills or food? you may regret it today but if it helped you significantly before, then for me it was already worth it. no one knew that btc will hit a very good price. so if you think there's bright future for btc, why not start collecting some satoshis again?

Hopefully, what @OP writes echoes to other people who has yet experienced the things he experienced.  Investing in Bitcoin is very good but investing in ponzi scams are way more too bad.  I can see that @OP not only wanted to share his Bitcoin experience which he regreted not investing fully on it during 2016 but to share with us how he made a mistake participating in pyramiding ponzi scam that not only eats his Bitcoin but also make him idle for some time until he realized that Bitcoin is really essential as an investment.

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[Yatsan]

Many of us for sure have made the same mistake and we really cannot do a thing about it. Bitcoin and this technology was less appreciated before simply because it is still a new 'thing' in the world of currencies. Potential is there indeed but in order to appreciate something you have to see it first. Why do we think there are people who sold early? because they don't know that its market price could be as high as we've witnessed. If they do know before for sure they won't and that's something we cannot change from the past. What's done is done. But why are people hesitating to buy at the present if there are chances for a higher market value in the future? 'coz no one is certain of it. If we would observe, we're on the same position as before.

[Ultegra134]

Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

we have had our own share of moments like this. but what if you spend your btc at important things like bills or food? you may regret it today but if it helped you significantly before, then for me it was already worth it. no one knew that btc will hit a very good price. so if you think there's bright future for btc, why not start collecting some satoshis again?

Hopefully, what @OP writes echoes to other people who has yet experienced the things he experienced.  Investing in Bitcoin is very good but investing in ponzi scams are way more too bad.  I can see that @OP not only wanted to share his Bitcoin experience which he regreted not investing fully on it during 2016 but to share with us how he made a mistake participating in pyramiding ponzi scam that not only eats his Bitcoin but also make him idle for some time until he realized that Bitcoin is really essential as an investment.

Bitcoin wasn't as acknowledged in 2016 as it is now. Let me also point out that there are still people claiming that Bitcoin and cryptocurrencies in general are a huge Ponzi scheme. With that being said, I don't blame OP for going for not getting involved earlier, but pyramid schemes aren't new by any means. Although the OP might feel stupid or taken advantage of, he's not the first and certainly not the last victim of such schemes. The point from such stories is to learn from your past mistakes in order to avoid repeating them in the future.

I also spent some time in a Ponzi so-called cloud mining scam back in 2014, I earned a few bucks and was lucky enough not to deposit any money there. It didn't even last two months.

[Ryu_Ar1]

I didn't buy Bitcoin until 3 years after. 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.

I think this condition or buying bitcoin at the same price as you bought few years ago will never even happen again for now because it is very impossible to happen.
But on the other hand, instead of regretting what has happened, I think it's better now to create new conditions where you really have to focus on the present and the future.
Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.
Regret will not make changes to anything now, let the past be memories and experiences, because the future still awaits our struggles and self-determination.

[BALIK]

Many of us for sure have made the same mistake and we really cannot do a thing about it. Bitcoin and this technology was less appreciated before simply because it is still a new 'thing' in the world of currencies. Potential is there indeed but in order to appreciate something you have to see it first. Why do we think there are people who sold early? because they don't know that its market price could be as high as we've witnessed. If they do know before for sure they won't and that's something we cannot change from the past. What's done is done. But why are people hesitating to buy at the present if there are chances for a higher market value in the future? 'coz no one is certain of it. If we would observe, we're on the same position as before.

It can be said that what OP went through is also what investors from 2013 and 2014 went through because, at that time, Ponzi projects were trendy and it was not unusual for us to invest in them. But in my opinion, there is no regret because no one knows the future, if everyone knows bitcoin is as successful as it is today, we are all dollar millionaires.

You're right, rather than regret, why don't we invest now when everything is still very cheap if we look 10 years into the future? The opportunity is still there and whether we continue to miss it or take it is for us to decide.

[TheUltraElite]

I think this condition or buying bitcoin at the same price as you bought few years ago will never even happen again for now because it is very impossible to happen.

Buying into a ponzi is happening everyday and the victims are mostly newbies who are in for some quick cash. The ones spreading such scams are the affiliate marketers and they only want their 10% commission and have sold their morality for it.

Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.

Definitely worth it, prices are having a upward trend today and so my views are bullish for now but let us await a few more days before confirming that. Even if not doing DCA we can buy low and then sell high keeping our patience over the holding period.

Of course bitcoin might no longer be in dirt cheap prices unless something huge goes wrong, but we can accumulate at lower prices and continue selling when it hits all time highs.

Just dont end up giving your money to someone who promises extraordinary claims.

[erep]

Today, I was browsing through my phone and I stumbled on my blockchain.com wallet and I decided to check it out, lo and behold the value of the BTC in my wallet left me with mixed emotions. I was happy being that even in bear market, the BTC that I bought at $20.98 has appreciated to $566.11 and also I was sad because I wish I had invested in BTC instead of the pyramid scheme.

Ponzi schemes for greedy people get unreasonable profits, they deposit assets without considering the losses and fraud from ponzi schemes, but unfortunately profit is a choice to blind the mind to think. I have a different analysis from the OP case above that he has trusted a friends suggestion to invest ponzi based using Bitcoin and but he doesn't really have any bitcoins in his wallet other than just to use the deposit to the ponzi platform address, he doesn't even have any remaining balance from his wallet until now, so Op still lost $20 at the bitcoin price at the time and didn't have to remember losing $566 due to overestimation was painful.

[EarnOnVictor]

What you just posted here reminds me of the naivety that befell me in the early times I knew about crypto. I had far more Bitcoin and other crypto transactions than you, to the point that almost all the companies that were paying me for my services between 2016-2022 paid with crypto. But I was just exchanging it for fiat then until last year when I joined BTT and become serious with my trading and investment of coins.

This is painful, and I don't want to think back regarding that, and you should just let go as well.

[DaNNy001]

Well first of all sorry for your losses but this experience is kinda normal with many folks here in the forum during their early years of knowing bitcoin. A mistake is unavoidable in the life of a human and its also part of the learning cycle because the best lessons is always learnt when we make mistakes but all together i just hope you have learnt from your mistakes.

But you can still atleast try to gather enough btc again seeing that market now is low, you can buy at a low price now and hodl it till btc goes up again. Like you said no one knows when the price is going to pump up again so stop regretting and just keep hoarding enough  btc you can get your hands on to because the time is coming when people that Missed this golden opportunity will also lament and say this word of regret "how wish i knew it will rise again ". So buckle up and start buying bro the future is bright.

[Ryu_Ar1]

Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.

Definitely worth it, prices are having a upward trend today and so my views are bullish for now but let us await a few more days before confirming that. Even if not doing DCA we can buy low and then sell high keeping our patience over the holding period.

Of course bitcoin might no longer be in dirt cheap prices unless something huge goes wrong, but we can accumulate at lower prices and continue selling when it hits all time highs.

Right now what we really need is to just wait and it depends on your patience whether you are ready for this or not but I think when we are sure to be here we should be ready to wait because this is part of the risk we have to live with.
On the other hand, regarding DCA and waiting to buy at a lower price, I don't think it's a problem, but on the other hand, it also depends on conditions, I think.
I am not too technically savvy and am still in the further learning stage so rather than waiting for something that is not too certain for me it is better to be at DCA because it is still worth it for myself. Of course if bitcoin is still going to rock bottom that's even better because I can buy more of it than before.

[Oilacris]

Well first of all sorry for your losses but this experience is kinda normal with many folks here in the forum during their early years of knowing bitcoin. A mistake is unavoidable in the life of a human and its also part of the learning cycle because the best lessons is always learnt when we make mistakes but all together i just hope you have learnt from your mistakes.

But you can still atleast try to gather enough btc again seeing that market now is low, you can buy at a low price now and hodl it till btc goes up again. Like you said no one knows when the price is going to pump up again so stop regretting and just keep hoarding enough  btc you can get your hands on to because the time is coming when people that Missed this golden opportunity will also lament and say this word of regret "how wish i knew it will rise again ". So buckle up and start buying bro the future is bright.

Yes, im also into that path on which i have really waste up lots or tons of coins back in the past due to those hyips and ponzi that we do have specially on 2016-2017 years where the market is been
flooded out by lots of these schemes and since im just a noob back then and im that greedy when it comes to making money or minding on making myself rich then im really that pouring all
of my money out of those investments and ended up on being scam, until i do make myself that knowledgeable out of those experience.Yes, it is really that regretful that
you are really that losing tons of potentially make huge money due to market increase but its never too late to go back to square one.

[BitDane]

What you just posted here reminds me of the naivety that befell me in the early times I knew about crypto. I had far more Bitcoin and other crypto transactions than you, to the point that almost all the companies that were paying me for my services between 2016-2022 paid with crypto. But I was just exchanging it for fiat then until last year when I joined BTT and become serious with my trading and investment of coins.

Almost all of us gone through to this kind of things when we are just starting out.  The good thing is that we were not discouraged, instead we continue to persevere and learn more about Bitcoin and its ecosystem.  It is still early to join or rejoin the Bitcoin economy since the industry is still very young.  We are still at a decade while Bitcoin mining is scheduled to last for more than 10 decades.  So there is still a lot of room for Bitcoin market to grow.

This is painful, and I don't want to think back regarding that, and you should just let go as well.

Aside from moving on, we should also learn a lesson from it especially if it pains us thinking way back.

[kawetsriyanto]

~~~

It is a big lesson, you finally know that investing in Bitcoin is more trusted than others.
If you missed the opportunity to invest in Bitcoin at that time, you have another chance to invest in Bitcoin this time. We are in the bearish season, it is the best time to fill our bags. However, choose the right wallet to hold the Bitcoin until the bullrun season. Don't trust CEX wallets, it is better to keep the Bitcoin in hardware wallets or private wallets.

Ponzi schemes for greedy people get unreasonable profits, they deposit assets without considering the losses and fraud from ponzi schemes, but unfortunately profit is a choice to blind the mind to think. I have a different analysis from the OP case above that he has trusted a friends suggestion to invest ponzi based using Bitcoin and but he doesn't really have any bitcoins in his wallet other than just to use the deposit to the ponzi platform address, he doesn't even have any remaining balance from his wallet until now, so Op still lost $20 at the bitcoin price at the time and didn't have to remember losing $566 due to overestimation was painful.

Yep, OP just too trusted his friend, so he wants to invest in the pyramid scheme. He was probably a beginner and didn't know much about crypto investment at that time. So, we can understand that OP can be trapped in a scam project.

Basically, he lost $20 but it is valued at about $566 now.
He regrets not saving his BTC, instead invested the BTC in a pyramid scheme.

[n0ne]

What you just posted here reminds me of the naivety that befell me in the early times I knew about crypto. I had far more Bitcoin and other crypto transactions than you, to the point that almost all the companies that were paying me for my services between 2016-2022 paid with crypto. But I was just exchanging it for fiat then until last year when I joined BTT and become serious with my trading and investment of coins.

This is painful, and I don't want to think back regarding that, and you should just let go as well.

Everyone have got some stories behind and looking back will make us feel painful. This is common, because of the growth bitcoin have attained over the short time period. Myself had experienced similar growth out of altcoins, and I missed the opportunity to sell those holdings. Later they got delisted which is the sad part. Rather than thinking about the past it is good to stay strong and focus on the present. Even then onwards it is possible to make good holding.

[samcoin]

I got to know about BTC in 2016 through a friend who introduced me to a pyramid scheme. I bought 0.0334 units of BTC at $20.9. I didn't know the risks associated with online wallets then, so I stored it in my blockchain.com wallet. I sent the BTC to an upline member hoping to receive it back from 2 downline members I introduced to the scheme. To cut the story short the pyramid scheme turned out to be a scam and I lost my BTC. Today, I was browsing through my phone and I stumbled on my blockchain.com wallet and I decided to check it out, lo and behold the value of the BTC in my wallet left me with mixed emotions. I was happy being that even in bear market, the BTC that I bought at $20.98 has appreciated to $566.11 and also I was sad because I wish I had invested in BTC instead of the pyramid scheme.

I assume everyone in Crypto have their own story with the different types of scams that were widespreaded in a certain period of Crypto history, so I won't talk about it, but I want to draw attentions to the developed awarness among Crypto community regarding these types of scam, it was easy for them to scam people, especially newcomers like your case in that period as there weren't many resources to check the credibility of a project. Now, as many cases have happened and a lot of people have their own story, it's harder for any scam project to collect the amount of Bitcoin the old scams were collecting, most newcomers now may come across stories that prevent them from following scams as they learn from other's mistakes, as well as the scarcity of Bitcoin is increasing with the same level that people look at it as precious holding.

[Marykeller]

As a newbie in crypto, if you are not properly guided in it, there's a very tendency for you to fall victim to scams as a newbie. Sadly, you lost your bitcoin in such a manner. Nevertheless, as you are already aware of what the future of bitcoin can be if you choose to hodl it for years, that means you have learned that an investment made in bitcoin today can give you many profits in the future.

Actually, the bear mistake is the best time to fill your portfolio with bitcoin if you have a long-term investment plan on bitcoin.

[Broadanbig]

These are the numerous mistakes we make at the initial start. At first it is a scam then fud, panic sell upon any slight down market trend. I have learnt a whole lot from these experience. I believe this type of most needs the new bie to see and read so they could learn from it. It happened really. Most of us here had such experience which we are likely regretting today if we had the knowledge then we would not have sold but hold the digital gold but we got scammed by those that knows more than we do as new bie. That I believe is amongst the Crypto experience many if us onboard this platform had before our eyes opened to know the real worth of what we are holding.

Open your eyes do not trade for peanuts!

[carlfebz2]

As a newbie in crypto, if you are not properly guided in it, there's a very tendency for you to fall victim to scams as a newbie. Sadly, you lost your bitcoin in such a manner. Nevertheless, as you are already aware of what the future of bitcoin can be if you choose to hodl it for years, that means you have learned that an investment made in bitcoin today can give you many profits in the future.

Actually, the bear mistake is the best time to fill your portfolio with bitcoin if you have a long-term investment plan on bitcoin.

We are all ones being a noob back into those early years or previous ones on which there are really decisions and perceptions towards crypto things which ended as a disaster specially where we are really that prone when it comes to lots of scams and frauds around in the market.We do have that limited kind of knowledge which it would really be just that normal that we would be experiencing those mistakes and errors.

There's no point on making yourself do look and goes back into those mistakes because if you do keep it in mind then it would really be just giving off some stress and might be the result
that it would really be affecting on what you are currently engaging off with.

[AmoreJaz]

These are the numerous mistakes we make at the initial start. At first it is a scam then fud, panic sell upon any slight down market trend. I have learnt a whole lot from these experience. I believe this type of most needs the new bie to see and read so they could learn from it. It happened really. Most of us here had such experience which we are likely regretting today if we had the knowledge then we would not have sold but hold the digital gold but we got scammed by those that knows more than we do as new bie. That I believe is amongst the Crypto experience many if us onboard this platform had before our eyes opened to know the real worth of what we are holding.

Open your eyes do not trade for peanuts!

we all started as a newbie in this market, so one way or another we all had that kind of experience. from such experience, we learned new things, tips, or tricks to survive and gain profit from this market. it is how we move on from past mistakes. no one is immune to losses or mistakes. even the so-called experts today have had their fair share of failures. so don't be too hard on yourself, we all have gone thru such phase of losing.

[mvdheuvel1983]

There are a ton of people in your position that experience the same emotions whenever they reflect back on how early and "unserious" they took bitcoin about 6 or 7 years ago.
In my opinion, it's still early and anyone who doesn't hodl might have the biggest regrets of their lives. Just invest and hodl month in and month out. In another 7 years, the narrative will have changed.