When Losing Bitcoin Feels Like Losing More Than Just Money.

[Joy- maker]

I have been following this thread, and frankly speaking I was expecting to see comments like, someone who lose their Bitcoin is not Automatically back to zero, at least they gained knowledge, discipline and the experience that allow them to accumulate Bitcoin in the first place.

But, from my perspective, that person is automatically back to zero, there is no point proven points where there's no point. This people didn't only lost money and time, they also lost years of discipline, the feeling of making progress, confidence in their decisions and sometimes they even lost believe in the technology they once believed in.

Here on Bitcointalk we often celebrate those who held their Bitcoin investment for long term, perhaps we should also have honest conversations of those who held their bitcoin investment for long term and then lost everything in an twinkle of an eye.

[citywise2]

This is where things got serious, this dude was not only questioning his security set up, he even questioned his belief in bitcoin itself

From what I read he was really just questioning how he could lose it all after following the text book guidelines that everyone will give for securing your assets. It's one thing to make a silly mistake and suffer a loss for it, another to do the right things and still suffer one.

Indeed the pain can be profound when you fail or loss not for having made a mistake or something but after having done what is needful. At this point, some people will lose hope and faith and may never gather the zeal to start again, but since the problem was not Bitcoin itself, I think he can make adjustments and try again.

When people lose their bitcoin investment what exactly do they lose? because it is not only money.

It is that, you're losing years of hardwork stacking to build your portfolio and the potential value it could have become down the line.

Your mind is where your treasure is, so in the case of loss of that treasure, you have lost everything and that includes all the hope and future you have built around it.

[Lida93]

At this point, some people will lose hope and faith and may never gather the zeal to start again, but since the problem was not Bitcoin itself, I think he can make adjustments and try again.

The feelings can't be different with losing anything of value, you must feel hurt for the time and effort. I am not sure how the pain for the two different circumstance might be but I am convinced that the pain for losing your bitcoin not from your own fault is much griever, and has being what has caused the dismay on bitcoin from the Reddit guy.

I completely doubt there may be anyone who would want to start again from scratch after losing that amount of money with current bitcoin dollar value. Let me realistic here, it's hard to comeback.

[DiMarxist]

What ever words that this person who lost his or her bitcoin uses is right and understandable to me. Because Bitcoin is something that is precious and valuable hence the nickname, digital gold. So for someone to be losing such a valuable asset will feel like you have lost something irreplaceable, two Bitcoin is not something that someone can use two to three days in stacking.

I don't know how this person lost his Bitcoin either to scammers or missing his private keys. The most important lesson that we all should learn from stories like This is your bitcoin security and protection should be your number one priority and factor that people should take into cognizance. But neglegence can cost you your sweat and hardwork of years.

Am just trying to put myself in this person and trying to imagine what will be going on in the mind of this fellow, can this person actually recover from this list. These are questions that comes to my mind, my advice to this person is that this this lose should not make him to lose hope on Bitcoin.

[Rabata]

This is where things got serious, this dude was not only questioning his security set up, he even questioned his belief in bitcoin itself, and this made me think of something we rarely discuss here on bitcointalk which am going to leave you guys with this question.

When people lose their bitcoin investment what exactly do they lose? because it is not only money.

When someone loses Bitcoin, what’s lost is hope for the future. On top of that, there’s the time and effort lost—not just the money. Yes. Hope, time, and effort are felt most acutely when Bitcoin is lost after consistently saving up, until it all becomes a memory that may never be forgotten—especially when those savings were made from a portion of one’s remaining income.

Who holds Bitcoin for a long time, he not only creates wealth there, but also keeps his dream alive. As his wealth grows, his dream also grows bigger. And he works hard, devotes a lot of time to making that dream a reality. He also sacrifices a lot from his life. Undoubtedly, if that wealth suddenly disappears, then along with losing wealth, he also loses his dream of life, which was his long-standing passion and love. However, in this case, if the investor just sinks into despair, he will never be able to return to normal life. He will have to accept what has happened and gather strength again. I am not saying that it is possible to get back what he has lost, but if he tries again and corrects his mistakes, he will be in a better position than before.

[BItcoin Guy@]

Anyone that loses Bitcoin and really knows its value will definitely talk that way, because it’s not only money you lose, but the benefits of having the coin is another privilege. Having almost 2 Bitcoin is a huge amount that can probably change you as a person, when you know how to plan better.

Bitcoin is a great coin, and many people always try to have it in their investment plan because of what they can achieve in the long term. When someone loses his Bitcoin, it’s not a small loss, because he will be feeling it for a long time. It’s always important to keep your private key secure so that you won’t regret later.

[Rain1620]

The statement “I just want to finish” Was really deep. Giving up almost a decade making a mix of sacrifices, patience, hopes and continuous stacking, all to save one from inflation and attain financial freedom. at this point the individuals view about bitcoin has gone beyond being a speculative asset, a grounded digital asset nor a balance to being a safety net and a place he found peace and future hopes.

After arriving this stage,  and you happen to loose 2 bitcoins, you’re not loosing just money. It’s like loosing security, years of hardwork, a longterm freedom they gave soo much for, and a future they’ve sacrificed soo much time to build. This loss is capable of shattering the safety, both psychologically and financially, that they have placed hopes on to save them from economic uncertainties.

This whole scenario may have left that individual with a stigma of betrayal, where he started questioning everything from where it all started. That psychological harm tends to be more difficult to heal from compared to the financial loss.

[Hazink]

I have been following this thread, and frankly speaking I was expecting to see comments like, someone who lose their Bitcoin is not Automatically back to zero, at least they gained knowledge, discipline and the experience that allow them to accumulate Bitcoin in the first place.

But, from my perspective, that person is automatically back to zero, there is no point proven points where there's no point. This people didn't only lost money and time, they also lost years of discipline, the feeling of making progress, confidence in their decisions and sometimes they even lost believe in the technology they once believed in.

Here on Bitcointalk we often celebrate those who held their Bitcoin investment for long term, perhaps we should also have honest conversations of those who held their bitcoin investment for long term and then lost everything in an twinkle of an eye.

Losing money hits differently for everyone. We can all feel the pain of the loss, but the way we react to it will be different. That’s while the response you might be expecting won’t be exactly as you expected, as we all have different views.

When something like this happens to some, after some years, they will rise up and move on from the loss, making better plans for the future which will prevent what happened before from happening again. While there are those which how they see that an asset have to change entirely, and they will never see it as a safe place to keep their money again, I don’t wish for such experience for anyone the pain of losing almost a decade of holding is not a small one.

[Mahiyammahi]

I think, if you don't have the proper patience to invest in Bitcoin, you shouldn't come here. Also, there are many times when someone invests in Bitcoin and has been doing it for a long time, but suddenly he can't maintain his patience and sells all his holdings. Which is actually a negative sign. But I think, if you are a Bitcoin investor, then you should have nerves of steel.

[RGBTC]

I read the original post. I understand that losing 2BTC has left him devastated, maybe that's the point where one should completely lose faith in btc and related to it. BTC also not only believes in a decentralized network, but also demands to believe in several other parties for more specific governance. I think many people today are in a similar state of regret.

[AgriTrack]

When people lose their bitcoin investment what exactly do they lose? because it is not only money.

Of course, it is not only money, it is all the hard work and struggles that the person had to go through throughout the years to finally manage to have that amount, and it is not only about Bitcoin, even if he was saving that money in Gold, or any other asset, it would be the same thing if he had lost the assets, but the case here is that because of these hackers and exploiters, a lot of people will lose faith in Bitcoin, and that's bad. Those who understand that this was because of a vulnerability in the wallet's security that they were using, they might understand, but those who don't understand these things, they might think it is all because of Bitcoin itself and its network, and that's the biggest problem.

So many people might stop investing money in Bitcoin after this, so many of them will stop using hardware wallets because of the fear of getting robbed of their assets again, some will go for tighter security, but those who lost their hard-earned money and life-savings, they are the ones who will suffer a lot from this because it is not easy. Imagine being from a country where economy is not strong, the currency is weak because there is a lot of inflation, and you manage to have 2 bitcoins but one day you realize that you have lost that to a hack or exploit because of the wallet you were using.

[Japinat]

I have always believed that bitcoin could be our gateway to make a big financial difference for our future, that's why losing it in just a blink of an eye can be very heartbreaking. So sorry for what you have experienced OP, its like all your money, time, efforts and patience have all been wasted. But I don't think you should cut connection with bitcoin, you can start all over again and still hope that in due time, you can accumulate even more than 2 bitcoins to replace that amount of what you have lost.

However, this time, make sure to tighten the security and safeguard your asset 24/7. Or you can sell when there are possible profits, and then buy back again to accumulate more bitcoin when the price turns affordable. You can't be sure what will be the possible future of your bitcoin, so always keep an eye on it 24/7.

[Hyphen(-)]

I have always believed that bitcoin could be our gateway to make a big financial difference for our future, that's why losing it in just a blink of an eye can be very heartbreaking. So sorry for what you have experienced OP, its like all your money, time, efforts and patience have all been wasted. But I don't think you should cut connection with bitcoin, you can start all over again and still hope that in due time, you can accumulate even more than 2 bitcoins to replace that amount of what you have lost.

However, this time, make sure to tighten the security and safeguard your asset 24/7. Or you can sell when there are possible profits, and then buy back again to accumulate more bitcoin when the price turns affordable. You can't be sure what will be the possible future of your bitcoin, so always keep an eye on it 24/7.

The OP bright this topic up based on a post he/she red on Reddit, the person was questioning his security set up because he lost his Bitcoin savings due to his fault, which is very touching, because I the person claimed to have found a better way to financially stable because his Bitcoin investment saved him from inflation already but now the Bitcoin is no more in his position.

A lot is happening to people holding Bitcoin, it is not everyone that will come and say it out, but I believe forum like this has been helpful in guiding a lot of on how to go about our wallet protection and how to send and receive Bitcoin without problem because silly mistakes can cause bankruptcy because Bitcoin transaction is not reversible.

There is no need of selling if you are really holding for long period of time, you just have to safeguard your seed phrase offline, and also have good backup, you are good to go.

[SmartCharpa]

This is where things got serious, this dude was not only questioning his security set up, he even questioned his belief in bitcoin itself, and this made me think of something we rarely discuss here on bitcointalk which am going to leave you guys with this question.

When people lose their bitcoin investment what exactly do they lose? because it is not only money.

This story is very touching. After years of sacrifice and enduring the price changes, he lost everything. After losing that amount of Bitcoin, it will be difficult for everyone to trust or believe in it again. At this point, he’s regretting investing in Bitcoin, he wishes he had invested his money in any local investment instead of 8 years of sacrifice, and all of this wouldn’t have happened. I’m sure he had his own plans after 8 good years of hard work and dedication. This is a very sad story.

Where is he going to start from after planning to be financially okay before 50? It’s very sad for everyone to lose valuable assets like that. He had already planned his life with the amount of Bitcoin he had accumulated, and anyone in his shoes would have done the same. I hope affected finds peace in anything they chooses to do, and achieves more than what they have lost.

[Natalim]

You know, acquiring bitcoin isn't just a matter of money, it's also a matter of time, patience, constant market understanding, and high endurance that even with high volatility and consistent price fluctuations, you still chose to trust bitcoin and never fall on the trap of panic selling. Now that its gone, its very painful, but along with it, you also learned new lessons that you thought you have it already before you lost your bitcoin.

Invest in bitcoin again, even if you start from scratch. Bitcoin will never disappoint us, but its only some unforeseen circumstances that will make us disappointed from bitcoin, but we can always learn new lessons from it to be wiser and smarter this time.

[MyWarLord]

They don't just lose bitcoin they lose trust in themselves, whenever an investment idea comes up no matter how much assurance there is, the memory of that loss is still in their mind.

Another thing they lose is their peace of mind, most of them fall into depression because of how much time and effort it took them to get there.

They also lose time, the number of years it took them to get there would automatically go to waste.

They'll also lose trust on bitcoin itself, no matter the amount of trust they had and how much knowledge they've gathered, because investing in bitcoin is psychological, eventually their fear becomes greater than their conviction.

[Vaskiy]

This couldn't have happened. In this particular person's incident he's quite good to move forward as he states that he have emergency fund and a small house with no debt. He doesn't have any investments as his complete belief is upon bitcoin. His thoughts were much futuristic, and he might've made more sacrifices in the past eight years to accumulate it. I'm really sorry for what has happened. Now each and everyone who had got hit by this need to focus on their mental health.

Often we get to see some vulnerability in the storage. Everything happens in much short time period not allowing users to think. The trust gets broken and here also this person have mentioned whether he still believe in it. Making little by little and they trusted the system. What can be a solution for these kind of hacks. Maybe using multiple wallets,  atleast a little portion would've been safe.

[MiF]

This is where things got serious, this dude was not only questioning his security set up, he even questioned his belief in bitcoin itself, and this made me think of something we rarely discuss here on bitcointalk which am going to leave you guys with this question.

When people lose their bitcoin investment what exactly do they lose? because it is not only money.

When someone loses Bitcoin, what’s lost is hope for the future. On top of that, there’s the time and effort lost—not just the money. Yes. Hope, time, and effort are felt most acutely when Bitcoin is lost after consistently saving up, until it all becomes a memory that may never be forgotten—especially when those savings were made from a portion of one’s remaining income.

Who holds Bitcoin for a long time, he not only creates wealth there, but also keeps his dream alive. As his wealth grows, his dream also grows bigger. And he works hard, devotes a lot of time to making that dream a reality. He also sacrifices a lot from his life. Undoubtedly, if that wealth suddenly disappears, then along with losing wealth, he also loses his dream of life, which was his long-standing passion and love. However, in this case, if the investor just sinks into despair, he will never be able to return to normal life. He will have to accept what has happened and gather strength again. I am not saying that it is possible to get back what he has lost, but if he tries again and corrects his mistakes, he will be in a better position than before.

Sure you have to agree that the pain associated with losing Bitcoin is greater than the pain of losing money, because each and every Bitcoin is generally a time, and a sacrifice. And a hope for a better future. The emotional aspect is the loss of years of discipline in one mistake and/or one security failure. But I don't believe such a failure should ruffle Bitcoin's feathers. Instead it should be a hard lesson that they learn to improve their security, and to not make the same mistakes again. It's hard to get over the setback, but it's better to learn from it and try again than to give up altogether.

[Rubuchi]

I think, if you don't have the proper patience to invest in Bitcoin, you shouldn't come here. Also, there are many times when someone invests in Bitcoin and has been doing it for a long time, but suddenly he can't maintain his patience and sells all his holdings. Which is actually a negative sign. But I think, if you are a Bitcoin investor, then you should have nerves of steel.

having nerves of steel does not mean that you can never sell your bitcoin, it means that making decisions based on a clear plan rather than emotions , so if your strategy is to hold bitcoin for a very long time then short time price swings should not force you to abandon that plan and that’s what it means to have a nerve of steel too. Anybody investing in bitcoin should understand that its price can be volatile and there will be periods when the market tests your conviction but patience is key because that’s what will make you stay loyal to your bitcoin investment for a longer time.

[jcojci]

Yes, we are back to zero if we lost Bitcoin but this time we don't have to start from beginning because at least, we have knowledge to start. We might face the price increased and if we use the same amount of money, we will not get the same amount of Bitcoin so that is our decision if we want to still invest in Bitcoin and this time we will carefully keeping Bitcoin. We have a value lesson from our lost so we will pay more attention and prevent the same thing happened. We don't want that so we learned from our experienced how to prevents that.