I found my Bitcoin books from 2016

[OcTradism]

Some of these old moves still haunt me today, I also focused on some altcoins, I spent money on graphic cards, but I made the mistake of mining altcoins, I could have focused on Bitcoin and Ethereum only, and maybe today I would have become an Ethereum whale at least but instead I started mining shit coins, then I don't even look at those coins like they are shit, who would have thought 🤔 so?

Altcoins are shitcoins and very scarce altcoins can survive after one year or better one market cycle (about 4 years). If we check longer time like 2 market cycles, the number of survival altcoins will drop dramatically.

Most of altcoins die with time and with market cycles so it's painful to invest in altcoins. It is more painful if you invest in graphic cards for mining altcoins and see their prices drop with time but it's not worse. Their trading volumes fall with time, exchanges will delist coins with low trading volumes and I see it is more convenient and less risky to buy altcoins directly than mining them with graphic cards.

Best to avoid altcoins (shitcoins) and use most of your capital for Bitcoin.

[1714703943]

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[1714703943]

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[SOKO-DEKE]

Some of these old moves still haunt me today, I also focused on some altcoins, I spent money on graphic cards, but I made the mistake of mining altcoins, I could have focused on Bitcoin and Ethereum only, and maybe today I would have become an Ethereum whale at least but instead I started mining shit coins, then I don't even look at those coins like they are shit, who would have thought 🤔 so?

I don't think you should blame yourself so much, I believe it is lack of appropriate knowledge of cryptocurrency that lead you to that direction. at first many of us were just told about cryptocurrency industry that when we invested in bitcoin we are going to make some profit with time but getting there some of us cannot differentiate Bitcoin from others altcoins,due to no appreciate knowledge, many of us  think they are same and insist for us to due to our own further research we refused and follow the steps people that introduced use to cryptocurrency industry or just follow the ideas of people that buying altcoin with aim of making quick profit, so buying shitcoin  because it  was pumping at time, thinking that how it will continue moving and with time we see it again dropping significantly in price, in our were mind because of we ignorance we keep hold it even it continue dropping thinking that one day it will pick again but at end it become dead coin.

Altcoins are shitcoins and very scarce altcoins can survive after one year or better one market cycle (about 4 years). If we check longer time like 2 market cycles, the number of survival altcoins will drop dramatically.

From my little experience with investing in shitcoin, I will never invest in or advise anybody to invest in shitcoin again, especially any member who cannot do their own appropriate research for the shitcoin he or she wants to invest in. I invested in shitcoin when I saw the price of the shitcoin pumping seriously, but when I just invested in it for a few days, I lost over 60% of my invested funds just in a few days, and the way I was holding it, the price was continuing to drop, so I just sold it off in loss, and when I checked it back after a few months, the coin had become a dead coin.

[Blitzboy]

Some of these old moves still haunt me today, I also focused on some altcoins, I spent money on graphic cards, but I made the mistake of mining altcoins, I could have focused on Bitcoin and Ethereum only, and maybe today I would have become an Ethereum whale at least but instead I started mining shit coins, then I don't even look at those coins like they are shit, who would have thought 🤔 so?

Altcoins are shitcoins and very scarce altcoins can survive after one year or better one market cycle (about 4 years). If we check longer time like 2 market cycles, the number of survival altcoins will drop dramatically.

Most of altcoins die with time and with market cycles so it's painful to invest in altcoins. It is more painful if you invest in graphic cards for mining altcoins and see their prices drop with time but it's not worse. Their trading volumes fall with time, exchanges will delist coins with low trading volumes and I see it is more convenient and less risky to buy altcoins directly than mining them with graphic cards.

Best to avoid altcoins (shitcoins) and use most of your capital for Bitcoin.

Altcoins? They are just the result of boring, desperate efforts to copy Bitcoin's genius. Its like trying to make a better wheel when its already been made. One cycle, two cycles... how many cycles does it take for people to see the blatantly obvious truth?

Mining altcoins with graphic cards? Its not just a bad bet; its illogical. Why would you waste your time and money on these short-lived projects when Bitcoin is the true king and the only one that matters? Exchanges are taking altcoins off their lists because even they know that these tokens dont last forever. Putting money into them is like throwing it into a hole with no bottom and hoping it will magically float back up.

It makes me laugh that people still fall for these so-called "altcoins." Bitcoin is the only choice that makes sense and is worth it. Everyone else is making things up.

[Peanutswar]

That was an opportunity that time for you to have a bitcoin early, but we know the struggles of life we need to set a side some things do not help into our current state, so you keep choosing your family and there's nothing wrong with that because you have the opportunity, but you don't have the stand to invest as possible this can really serve a lesson that next in your journey will surely take this again. People too much overwhelming the use of the bitcoin so they make an investment without a proper execution because of FOMO at the end they will use their investment to survive in the daily basis. Hoping soon most of us will catch up for the next halving.

[Mr.suevie]

That was an opportunity that time for you to have a bitcoin early, but we know the struggles of life we need to set a side some things do not help into our current state, so you keep choosing your family and there's nothing wrong with that because you have the opportunity, but you don't have the stand to invest as possible this can really serve a lesson that next in your journey will surely take this again. People too much overwhelming the use of the bitcoin so they make an investment without a proper execution because of FOMO at the end they will use their investment to survive in the daily basis. Hoping soon most of us will catch up for the next halving.

Exactly my thought, although most people have made this early mistake but if we kinda look at it from one angle it's not actually a mistake but I would understand why it's supposedly called that maybe because of the lack of  proper planning and strategy towards the early Bitcoin investment you made but mistakes are actually meant to be a lesson for us and people around us to take to correction. But there is plenty of opportunity to make the right move in your Bitcoin investment as BTC is still very much in a stage where we can still make something out of it, the only issue here is to play the HODL game and accumulate as much and wait for time to fulfill its course.

[Bobrox]

Seems excited with your journey how to know Bitcoin and face panic moment for selling all bitcoin assets when price going down, ever in your position but I am most loyal holding some cryptocurrency assets more than several year but get disappointed result after my coins holding delist from exchange market. Its not wrong when take decision for holding bitcoin assets but we have manage well when time for selling and buy back later.

Not totally mistake when selling your bitcoin assets last several year, don't imagine with how much expensive current bitcoin price right now but remember you help your brother life by selling bitcoin assets. Still not late for investing in bitcoin right now and you have much knowledge with joining airdrop and spent it in Bitcoin for long term investment.

[pawanjain]

believe me,  Bitcoin investment is not easy for those that have no good source of income.

I believe you. I read your whole post and I felt what you have gone through. I can understand how it feels when you say bitcoin investment is not easy for those who don't have a good source of income.
This is because when I started my journey with bitcoin I was as hungry for it as you were and tried to grab every opportunity to accumulate some coins.
Even I didn't have any income back then and so accumulating BTC was a tough task. As days passed the wallet balance kept growing.
I had sold some of my earnings in bitcoin on few occasions which I don't regret. It was a good journey for me fortunately.

[Lorence.xD]

That was an opportunity that time for you to have a bitcoin early, but we know the struggles of life we need to set a side some things do not help into our current state, so you keep choosing your family and there's nothing wrong with that because you have the opportunity, but you don't have the stand to invest as possible this can really serve a lesson that next in your journey will surely take this again. People too much overwhelming the use of the bitcoin so they make an investment without a proper execution because of FOMO at the end they will use their investment to survive in the daily basis. Hoping soon most of us will catch up for the next halving.

Exactly, this is really meant to some thread such as "Bitcoin is not for everyone". I mean we're all aware on Bitcoin's existence so as we studied and we know the potential of it or it's benefit. But the common problems from some people is the money sources for investment. Let's say that you really have a good paying job, but the fact that everyday we all can't predict the outcome that there might be some problem in life and issues that would be needing some financial money.

I always keep saying that, if you don't have the money to invest in Bitcoin yet, then you could focus on investing in yourself first with knowledge. So when the time comes you already have the funds to invest then it would be easier for you to be in crypto currency. Cuz FOMO is literally could destroy anyone's money by just impulsively betting their money and wanting it to profit quickly.

[sokani]

Exactly my thought, although most people have made this early mistake but if we kinda look at it from one angle it's not actually a mistake but I would understand why it's supposedly called that maybe because of the lack of  proper planning and strategy towards the early Bitcoin investment you made but mistakes are actually meant to be a lesson for us and people around us to take to correction. But there is plenty of opportunity to make the right move in your Bitcoin investment as BTC is still very much in a stage where we can still make something out of it, the only issue here is to play the HODL game and accumulate as much and wait for time to fulfill its course.

I bought my first bitcoin in 2016 and I used it in a ponzi scheme that didn't go well for me. The 0.0338 BTC I bought is worth about $944 in today's market value and I lost everything to ponzi. I don't beat myself over it because I believe if there are no mistakes, then there won't be any lesson. The OP went through a great deal in stacking his Bitcoin holdings and made the big mistake of investing it in altcoin mining that cost him everything. Unlike my case, he should be happy that he was able to do something good with it, using part of it to give his family a good Christmas celebration and also to support his sick brother is commendable and something he should be proud of.

[Bitcoin_people]

OP you have believed in bitcoin for years and have been automatic with it.  Long 6/7 years ago you invested in Bitcoin and kept that invested money in a wallet lost. But since you got it back again and again, it is really good and commendable for you that we should learn from this, because if you have faith you always get everything back as you got it. I think if you are looking for a source of income in Bitcoin you must have faith and trust in it, but you can make a profit by investing. If a person is interested in investing in Bitcoin, if he does not have money, he must learn to save some money and invest with the money he has saved. And from your tutorial we must learn how transparent and certain the future of Bitcoin is so we never forget to invest in Bitcoin.

[slaman29]

I know I should also be having good nostalgia for those days, although my days were really in 2017, but they were when I was so busy researching and supporting so many projects. Investing my own money and really "following the dream". Crash hurt me so bad though that I almost left, especially because I used so much of my BTC to "diversify" into alts.

Lessons were so learned that year lol.

Some of these old moves still haunt me today, I also focused on some altcoins, I spent money on graphic cards, but I made the mistake of mining altcoins, I could have focused on Bitcoin and Ethereum only, and maybe today I would have become an Ethereum whale at least but instead I started mining shit coins, then I don't even look at those coins like they are shit, who would have thought 🤔 so?

I ended up losing everything because those shitcoins have no value after a few months, some turned to scam, we all have learned the hard way but it's a greater lesson that are worth it, at least we aren't the same person we used to be back then, and brother, that's a big achievement.

I still get temptation every now and then, especially when you see some shitcoins make massive PR campaigns but this time I treat it like a gamble, money I don't expect to get back, while never again sacrificing the precious BTC holdings that take so long to build.

I'll never be rich but I'm never gonna put BTC in losing shitcoins again.

Slow and steady, it's our biggest lesson right?

[KiaKia]

I know I should also be having good nostalgia for those days, although my days were really in 2017, but they were when I was so busy researching and supporting so many projects. Investing my own money and really "following the dream". Crash hurt me so bad though that I almost left, especially because I used so much of my BTC to "diversify" into alts.

Lessons were so learned that year lol.

Some of these old moves still haunt me today, I also focused on some altcoins, I spent money on graphic cards, but I made the mistake of mining altcoins, I could have focused on Bitcoin and Ethereum only, and maybe today I would have become an Ethereum whale at least but instead I started mining shit coins, then I don't even look at those coins like they are shit, who would have thought 🤔 so?

I ended up losing everything because those shitcoins have no value after a few months, some turned to scam, we all have learned the hard way but it's a greater lesson that are worth it, at least we aren't the same person we used to be back then, and brother, that's a big achievement.

I still get temptation every now and then, especially when you see some shitcoins make massive PR campaigns but this time I treat it like a gamble, money I don't expect to get back, while never again sacrificing the precious BTC holdings that take so long to build.

I'll never be rich but I'm never gonna put BTC in losing shitcoins again.

Slow and steady, it's our biggest lesson right?

If I can gamble on online casinos every now and then why can't I take little risks on altcoins? This is what my mind used to say to me, but after learning my lesson I now take risks with well built altcoins like Cardano and bnb, if Bitcoin creates a new low I believe Bnb can shake up some dollars and go lower, maybe 40$ per Bnb again, then that's when I will take risk on altcoins, but for now BTC is my main conclusion.

It's such a shame that to make life changing money from Bitcoin now requires a higher amount of money, this is why most of us still decide to buy altcoins to get a better boost on our ROI when the bull market arrives.

[worle1bm]

believe me,  Bitcoin investment is not easy for those that have no good source of income.

Right people with limited source of income or very low find it hard to invest in it because they need to satisfy their personal needs first of all and it's not a compulsion that we should do because the rule also states invest what you can afford to loose so it becomes more hard for such people as they can't handle losses in terms of their savings.So gain some extra income to set aside some amount you would invest without any risk.

[slaman29]

If I can gamble on online casinos every now and then why can't I take little risks on altcoins? This is what my mind used to say to me, but after learning my lesson I now take risks with well built altcoins like Cardano and bnb, if Bitcoin creates a new low I believe Bnb can shake up some dollars and go lower, maybe 40$ per Bnb again, then that's when I will take risk on altcoins, but for now BTC is my main conclusion.

It's such a shame that to make life changing money from Bitcoin now requires a higher amount of money, this is why most of us still decide to buy altcoins to get a better boost on our ROI when the bull market arrives.

You can! Just like I do!

But then, you have to start accepting the fact that it is shitcoins, not some new revolutionary creation, and you have to admit that it is gambling.

We are total opposites it seems. I learnt that all my time spent researching and being part of great communities means nothing because my "investment" into altcoins are just gambling. You switched the other way

Just be careful of expectations. When you gamble you expect to lose so it's ok. But if you invest time and future hopes, shitcoins losing will harm your personal wellbeing.

[krishnaverma]

How did you know about Bitcoin in 2016, 2017 and know about those faucets but did not join the forum earlier?

You only joined Bitcointalk in 2022, about less one year and one month ago. It is good to know that you are Bitcoin adopter since 2016, 2017 and you are survivor since the past bear market and a current one because you are still here, around Bitcoin, this market and are a member of this forum.

Would you mind sharing what happened with you since 2016 till 2022, please.

Today you can claim Bitcoin at this faucet: https://freebitco.in/site/bitcoin-faucet/

I am not sure about other faucets.

A first Bitcoin faucet is Get 5 free bitcoins from freebitcoins.appspot.com in June 2010.

There are many people involved with crypto from start who have not joined this forum yet. Different people have different priorities and thus this forum might not be priority for those people. Another possibility is that he belongs to some country where this forum is not very popular. Later when more people from his location started becoming active here, they might have shared it with him and thus he joined.

[taufik123]

believe me,  Bitcoin investment is not easy for those that have no good source of income.

Right people with limited source of income or very low find it hard to invest in it because they need to satisfy their personal needs first of all and it's not a compulsion that we should do because the rule also states invest what you can afford to loose so it becomes more hard for such people as they can't handle losses in terms of their savings.So gain some extra income to set aside some amount you would invest without any risk.

It is very necessary to have additional income if you want to invest.
Every investment will definitely be risky and the risk of investing in crypto will be greater if you are not prepared for rapid price fluctuations.

I also fall into the category of people with limited additional income.
only a few hundred dollars for a month that I can get, and part of it I set aside for regular investment.

It is also supported by a few percent signature income and the rest is used for the needs of me and my family.
Any investment is easy, provided you have a stable extra income and don't really need it for other needs.

[KiaKia]

If I can gamble on online casinos every now and then why can't I take little risks on altcoins? This is what my mind used to say to me, but after learning my lesson I now take risks with well built altcoins like Cardano and bnb, if Bitcoin creates a new low I believe Bnb can shake up some dollars and go lower, maybe 40$ per Bnb again, then that's when I will take risk on altcoins, but for now BTC is my main conclusion.

It's such a shame that to make life changing money from Bitcoin now requires a higher amount of money, this is why most of us still decide to buy altcoins to get a better boost on our ROI when the bull market arrives.

You can! Just like I do!

But then, you have to start accepting the fact that it is shitcoins, not some new revolutionary creation, and you have to admit that it is gambling.

We are total opposites it seems. I learnt that all my time spent researching and being part of great communities means nothing because my "investment" into altcoins are just gambling. You switched the other way

Just be careful of expectations. When you gamble you expect to lose so it's ok. But if you invest time and future hopes, shitcoins losing will harm your personal wellbeing.

Investing money on Binance coin is far better than visiting the casino or gambling online, you called bnb shitcoin and I don't say it isn't, but taking risks with these shitcoins is more safer than gambling I repeat, because you can analyse how or which project can bring you good return.

You can gamble on 20 altcoins like someone I knew did, with $2000 and he made over 100k in 2021, I don't need to prove anything to make this looks real, but all I am saying is it's a better chance that you will make money than gambling in casino.

I made most money from altcoins too, even than Bitcoin, but many people don't want to believe this, I can gamble with $2000 and get nothing on casinos, but it's near impossible to slit $2000 among some good alts aka shitcoins to you, just one project is enough to give you all your initial investment back, with better ROI too.

After Bitcoin investment and mining, trading follows, after that it's altcoins investment, and gambling online is the last online money making activity I get involved with, and so far, gambling as the lowest returns.

[GbitG]

believe me,  Bitcoin investment is not easy for those that have no good source of income.

Absolutely, I agree with you that investing in Bitcoin is not good when you have no such source of income. Because when a person is hand-to-mouth for a living and he earns hardly at least two meals a day, how might he invest in Bitcoin? Despite the fact that bitcoin is an excellent investment, if a person lacks a reliable source of income and has a family or child that depends on him, there is nothing else for them to depend on without his income. So he will therefore find it challenging to invest in bitcoin because it has such a volatile nature, so it is not suitable to invest in it for a person who does not have a sufficient source of income because bitcoin brings us a huge amount of profit and vice versa, the same amount of loss.

So at the end of the conclusion, I want to say that if a person does not have a reliable source of income through which he completes his daily tasks, it would be too risky for him to invest in Bitcoin because if the price goes down and he invests all of his income and suddenly there are some incidents, mishaps, and disasters with it, what will he do to monitor or solve his problem immediately?
So it is better for him to invest in those who do not have too much volitality.

[slaman29]

You can! Just like I do!

But then, you have to start accepting the fact that it is shitcoins, not some new revolutionary creation, and you have to admit that it is gambling.

We are total opposites it seems. I learnt that all my time spent researching and being part of great communities means nothing because my "investment" into altcoins are just gambling. You switched the other way

Just be careful of expectations. When you gamble you expect to lose so it's ok. But if you invest time and future hopes, shitcoins losing will harm your personal wellbeing.

Investing money on Binance coin is far better than visiting the casino or gambling online, you called bnb shitcoin and I don't say it isn't, but taking risks with these shitcoins is more safer than gambling I repeat, because you can analyse how or which project can bring you good return.

You can gamble on 20 altcoins like someone I knew did, with $2000 and he made over 100k in 2021, I don't need to prove anything to make this looks real, but all I am saying is it's a better chance that you will make money than gambling in casino.

I made most money from altcoins too, even than Bitcoin, but many people don't want to believe this, I can gamble with $2000 and get nothing on casinos, but it's near impossible to slit $2000 among some good alts aka shitcoins to you, just one project is enough to give you all your initial investment back, with better ROI too.

After Bitcoin investment and mining, trading follows, after that it's altcoins investment, and gambling online is the last online money making activity I get involved with, and so far, gambling as the lowest returns.

You can repeat that all day my friend but I also repeat to you, no amount of analysis or research can ever make a difference. I learn in 2017, I saw all the professional research, I saw the detailed analysis into which coin has better tech etc. BNB has zero new tech, clones of everything else BUT better marketing and self pump, that's why they got up.

And you do need to prove things when you say shit like gambling on altcoins makes you better money than gambling. How can a guy who promotes research and analysis say things without need for proof?

In the altcoin section of this forum, I dare you to find people who actually invest in alts with research and they made profit because of that research. With proof, of course

I'm not saying gambling is a way to make money, please remember. I'm saying altcoin "investment" is actually gambling! I quote myself:

But then, you have to start accepting the fact that it is shitcoins, not some new revolutionary creation, and you have to admit that it is gambling.
~~
 When you gamble you expect to lose so it's ok.

[Mayyyy]

I was doing some cleanup in my store yesterday and I saw my books that I used for storing vital information about Bitcoin in 2016 and 2017, these books have some good and bad memories behind them.

https://i.postimg.cc/VsFjpw8n/eZLL2mS.jpg

There is nothing that beats learning, maybe I would have had a different outcome if I focused more on learning. Because I will understand how valuable Bitcoin will be in the future.

At the same time, it's a cool and instructive story. It's great that you still don't give up and keep learning.