Buying and Losing My First Bitcoin

[Ojima-ojo]

How did it feel when you first invested in Bitcoin?

Well, when it comes to losses in crypto, I believe we've all had our fair share of it, I also lost my first bitcoin investment to ponzi scheme, when I bought my first bitcoin, I was actually expecting it to start going up, but unfortunately, the reverse was the case, the price of bitcoin started goin down instead, being new to bitcoin, panic set in and i withdrew the money and invested it in a ponzi scheme hoping to cash out big, then I will invest part of the money back into bitcoin, but unfortunately, I lost the money, it was actually a very devastating experience back then, since I was relatively new to the internet, I was also new to ponzi back then, didn't even knew what ponzi meant until after my experience.

But I am happy that, All those are in the past now, things have changed and right now, I know what is truth and what if false, I hardly will lose my bitcoin ever again.

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[darkangel11]

You still had time to buy it back if you had it in 2017. You may feel like an unlucky person who missed a chance, but really you had so many opportunities to join the party in 2018, 2019 and 2020... That's the real sham, not that you lost bitcoin in 2017 because many of us lost or spent our coins in the early days getting next to nothing for it, but that you did not try to get it back, or at least that's how I understand the regret in your post. Losing $25 is nothing, but losing cheap bitcoin that you could have profited 1000% on is something.

[CageMabok]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

If you ask me about my feelings when I first invested in Bitcoin, of course I felt quite happy even though I didn't express my joy to everyone when I first invested in Bitcoin. But what people who have invested in Bitcoin have seen for a long time is that it is a very normal thing and they have even made it a routine job where they don't have to feel like doing it because they are so used to it. But for people who have just tried it, it is certainly very common to have feelings of joy in their hearts when they are able to invest in Bitcoin.

[usekevin]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

It was hard to accept your statement,but you can try another way to use the cryptocurrency in your country.If you had hold that bitcoin for now,it value will be huge then you had expected.Many traders get into the cryptocurrency trading as like you after 2017.It was very happy to see you guys and this will increase the demand of the bitcoin in the market.So the price of bitcoin will increased to good value as you expected it as of now.But still you can increase your bitcoin portfolio by buying the bitcoin with the periodic investment in the bitcoin.It help you to buy the bitcoin at various prices,the final result will be good because you can able to come across next halves in 2024.

You still had time to buy it back if you had it in 2017. You may feel like an unlucky person who missed a chance, but really you had so many opportunities to join the party in 2018, 2019 and 2020... That's the real sham, not that you lost bitcoin in 2017 because many of us lost or spent our coins in the early days getting next to nothing for it, but that you did not try to get it back, or at least that's how I understand the regret in your post. Losing $25 is nothing, but losing cheap bitcoin that you could have profited 1000% on is something.

It was the fact to buy the bitcoin at the various price as of now,because bitcoin is the decentralised cryptocurrency.The various prices will give them many chances to get profit at every bull run in the price of bitcoin in long run.The loss is over,but you can do the new bitcoin trading along with this 2024 new year.

[Churchillvv]

Well, I haven't invested in Bitcoin yet because I'm not earning for now, but soon I will be investing a huge amount that might cover up the DCA that I wish to do since I knew about Bitcoin. I'm also happy that I learned about Bitcoin. Though the learning continues, I know for sure that I won't regret my actions because I know the risks, pros, and cons of Bitcoin investment and would not make the mistake of investing in shitcoins that will end up putting me in regret.

[famososMuertos]

I don't really understand what the point of what you are asking is, perhaps some users have the tendency to think that bitcoins are not spent, but, at some point they have to be sold or invested, some even use it for trivial things like buying things , or bet.

Now losing them has never happened to me, but I don't think it's the idea in your context, because some lose their keys, or some hacking of an exchange or even their own wallet, that is very sad, but any of the others mentioned in my first paragraph, they happen and should not be considered lost.

[GiftedMAN]

Your experience is a very bad one but it's no longer new here because so many members has encountered lost of funds either by investing in ponzi scheme or scammers taking their funds but at the end they learn and become very cautious and protective of their investment.

You have already made the mistake but you have to stand up and not get discouraged by the mistake you made in the past but this time, learn to ask questions and do your own research before investing into Bitcoin.

[Distinctin]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Bitcoin is a valuable investment. Anyone who sees losing bitcoin might probably be in deep regrets wishing he had secured more his bitcoin so that he won' suffer from losing it. Regardless of the amount of capital, as long as you value your bitcoin, losing it is always hard to accept. Not only in bitcoin, but even in all types of investments, losing is certainly hard to ignore. Hence, if we can secure our investments first before rushing to invest more, that would be the best decision. Greed will only lead you to losses, so never ever fall on it.

[Jegileman]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I invested in bitcoin only when I had gathered a lot of knowledge from the forum about it. I didn’t fall any scandal of any kind of scam project yet and I don’t hope too with the necessary knowledge I have acquired from this forum all the time I have being here. What happened in your case was lack of knowledge about bitcoin, buying $25 worth of bitcoin in 2017 is a big value with the current price of bitcoin now. If you had the right knowledge then, you wouldn’t have gambled with your first bitcoin investment. A lesson has been learnt and I’m certain such mistake won’t come again. Investing in bitcoin is one of the best feeling you can have knowing that you’ve invested in the right coin and remaining optimistic of the positive outcome of it that awaits you.

[bluebit25]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

$25 is an amount of money that I think is valuable for you to learn something useful. I myself have missed many opportunities and in the past I have seen my own stupidity when I sold bitcoin at too low a price, but until now. Now, after many experiences that I think are quite useful, I have realized that with bitcoin, people always have many opportunities to develop and achieve their goals. There are stupidities that I find quite humorous in myself. I once accidentally transferred bitcoin to an address that did not belong to me and through small mistakes I was able to recover and try more to learn the ever-changing knowledge surrounding bitcoin, from equipping protection skills, analysis, capital management,... yep, remember one thing, we will all taste the taste of the goal for which we have strived.

[KingsDen]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Surprisingly this is the most method that people used to lose their Bitcoin in the early days of Bitcoin investment. I have heard many stories of people who bought reasonable amount of Bitcoin when bitcoin was first created and they all lost to those coins because they registered in third party application in the name of trading and to multiply their Bitcoin. Little did they know that what they needed was not to multiply their Bitcoin, no that they had more than enough bitcoin to sustain them in the whole life. We are just looking at the fiat equivalent of that bitcoin as of them and they wanted to multiply it. That was required of them was to hold till the coin appreciated. Many people who bought then and who did not also lose them to third party applications could not recover their bitcoin because they did not know the value of what they bought and hence they did not save it well.

The majority of the lost bitcoin was from the early days of bitcoin. But till today, I still see people patronising and their party apps to multiply their coins. What a folly!

[Casdinyard]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Nothing much really. For the most part I knew little bout bitcoin way back then and only invested in it cause I heard that it could give me some monetary gains nothing crazy, but when I saw just how much it has grown in value over the years I fell into the realization that bitcoin isn't your dime a dozen crypto or investment venture for that matter. It's too powerful if I do say so myself. When I first bought it (Actually earned it since I didn't really buy bitcoin and only got it from working in a signature campaign in the past), I didn't really think that it would shoot up this magnificently in value and in importance, but yeah I quickly lost it too, lost all my crypto assets in just three years and took me a long while before I got back in the crypto business with a newly-envigored passion for money and a brand new perspective about cryptocurrencies. If you lost your first bitcoin and you could still earn some, don't fret and actually work on getting your losses back instead of being mopey and sad about it.

Also sorry about you not being able to buy bitcoin nor hold it cause of you country's bylaws. Please understand that your country has their reasons to ban it, perhaps they don't know how to tax bitcoin just yet or they are afraid of how powerful it will be in the hands of people who does Money Laundering for business. It's a bummer but there is a method to their madness.

[nakamura12]

If you are not careful enough then there's a chance that you will lose your bitcoin and it would be very hard especially if your country banned the use of crypto. There's nothing you can do if your country banned crypto and the only thing you can do is to keep using it without getting caught and need to be very careful about it. Well, I don't know the reason why your country banned bitcoin but I am sure they have reason for doing it and my guess is that they can't control bitcoin unlike fiat money where your government have full control.

[Mr.right85]

I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Wow! I can only imagine how that must have felt for you. Trying to take a first huge and big move although $25 might not be much but, I can’t say what it meant to you at the time nor it’s worth in your locality but, having yo make this investment out of a friendly advice and getting to lose it is something that cuts dip.

Still, the mistake here is in the step as you now acknowledge. It’s why, wallets are preached better than these third party sites or exchanges. These guys directly becomes custodians of your coins and what affects them directly affects you. That wasn’t the purpose for the Bitcoin innovation. It’s Sulla decentralized currency and that means, you get sole custody of your funds.

The Goodnews is, the event is in the wind and your still here. Hope you learned from your mistake and isn’t ready to give up on Bitcoin just yet. It’s an investment for a future, don’t lose with a negative experience.

[Baki202]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I'm just curious as to how you plan on losing whatever money you may have put in bitcoin. Anything that is deemed touted requires more scrutiny than you may think, as many people have fallen victim to fraudulent schemes using these projects. When you invested in bitcoin in 2017, the price was approximately $19,000. And I'm sure you won't fall for a scam like that again because losing that money to one of them has opened your eyes. Many people have lost a significant amount of money in these schemes, but more and more people are becoming aware of the need to invest in anything they see.

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

The third-party hype site may provide information on a bonzi scheme whereby you deposit $25 and receive x3 or x10 of your investment in a matter of weeks. This is a common practice among ponzi operators, and it makes people even more excited since they believe they can become wealthy overnight. If you wish to hold onto your bitcoin after purchasing it, it is best to store it in a more secure wallet. And since it has a private key and may have been negligently disclosed, the onus should be on the individual if anything should still happen to it. When investing in bitcoin, you shouldn't believe everything you see.

What new ignorant investors don't know is that you don't invest in bitcoin through a third party, in real sense bitcoin was created to eliminate anything third party involvement in our transactions. Cutting off the middle man who's the evil behind traditional banking system.  It's hard to bear losing our money but at least you have learnt through experience however, make sure to be doing your own research in this industry it will save you from further loss out if ignorance. Like they said if you think knowledge is too costly to attain then try ignorance.

Anything like this can happen to anyone, but he has already learnt that in the case of bitcoin, anything involving a third party should be avoided at all costs since that third party could be the devil himself, meaning they could steal your bitcoin. We are aware of the fascination surrounding bitcoin, but given how rotten the banking system is, it is impossible to completely eradicate it. The best course of action is to conduct research before investing any money because it will protect us from many risks, particularly scammers.

[AirtelBuzz]

I think you made a mistake by trusting a third party for which you lost your invested bitcoins. However my first bitcoin investment was a different feeling because I invested in bitcoin with my earnings which was only five dollars. But I have invested bitcoins very carefully because if a third party finds out about bitcoins, I can lose bitcoins.
 All Bitcoin investors should keep their invested Bitcoins extremely safe and secure.

[m2017]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Those feelings and impressions received from the first purchase of bitcoin for each bitcoiner will remain irreplaceable, even if they were purchased for $25 or so. It is something like the delight of touching a wonderful technology, hitherto unfamiliar. Indeed, it is impressive and there is a certain magic in it. You remember that expression that says that any developed technology is indistinguishable from magic?

Any loss, be it bitcoin or regular money, leaves an unpleasant feeling. This is a common occurrence for bitcoiners, dating back to the early years of bitcoin, when bitcoin were lost in one way or another. Almost everyone who has owned a particle of a bitcoin has had this unpleasant experience.

[Nrcewker]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I bought Bitcoins only to gamble. I was completely new to the gambling world. I knew about gambling but was newbie at that time. I was too shy to go to offline gambling centres or casinos to gamble. Hence I thought of gambling online and introduced to crypto gambling. We had the option to remain anonymous in the casino and that’s why I chose crypto gambling. I bought the Bitcoins and made some good money by gambling it. I don’t remember exactly how I spent the profits or Bitcoins at that time.

[Assface16678]

Well, it's unfortunate to hear that bitcoin in your country is still illegal, but I think most of the country's bitcoin is illegal, but still, we can own them and access them. What's illegal about bitcoin is that you can't use it like a regular currency when buying something; hence, some establishments and businesses are starting to adopt it and accept crypto currency payments, mainly bitcoin. Well, it can't be helped that in your first investment in bitcoin you will sell it or, like you said, you will use it with a third party, which is not a good idea. But I think you've learned your lesson from those happenings. It's not too late. You can still invest in bitcoin now. It's up to you how much you will invest because any amount is acceptable. It's up to you how you will grow that small investment. Do DCA so you can accumulate a lot of bitcoin in no time.

[lizarder]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

It was a bad experience that should be an important lesson for the future and there are probably many people who didn't have a good moment at the start of their involvement in bitcoin. But experience teaches us how every mistake must be corrected and with this experience we can learn to be more responsible for the investments we make in bitcoin. If you look at the age of your involvement in bitcoin, it should be more mature because we have known about bitcoin for so long and maybe there is a lot of experience that we can find.

Hopefully next year will be better, especially for those of us who have been in investment for a long time because only in this way can we gain financial freedom independently. Bitcoin can provide a good path and bitcoin is a sure step if invested correctly, you just need to be patient and continue to collect responsibly.

How did it feel when you first invested in Bitcoin?

In fact, I lost my taste when I first got to know Bitcoin and my first investment didn't go well, even though the number of buyers wasn't too big. But over time I realized that investing in Bitcoin requires the right knowledge if you don't want to experience losses.