I give up

[rjp55]

Buying something because you were told its a sure thing, doing nothing, watching it lose its value and then selling it. Hard to sympathize.

Backing a financial asset with your own capital is not doing nothing; investors are supporting the bitcoin network and at their own financial risk... sometimes it works out for them, and sometimes it doesn't (like OP!) but to say she got what was coming to her because she "did nothing" kind of rejects the entire principle of investing in general.

Great lesson on investing then. In many ways. That there is invaluable, no need to be upset.

[1714911063]

1714911063

[Bitcopia]

Second Market has been buying all the way down with increasing volume through April.

OP is clearly not an investor, and clearly does not understand what Bitcoin is. It's a shame to see these kind of people attracted to it. It makes the unenlightened scream "Ponzi!" or "tulips bulbs!" over and over through each retracement because they don't understand the full potential of distributed consensus and appreciate the value of the hashing power and infrastructure of the first mover. They also lack the will or competence to see the long term trend.

I can't say I have sympathy for these folks. Feeling entitled to become wealthy without at least performing due diligence is insanity.

[pinksheep]

Good to hear that Second Market have been buying at these lower prices.

[Bitcopia]

Good to hear that Second Market have been buying at these lower prices.

In case you care to follow: https://bitcointalk.org/index.php?topic=337486.0

[JimboToronto]

I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"

If you paid $984, you obviously bought very recently (less than half a year ago).

Do you realize that anything less than 2 years is insufficient to be considered holding?

Bitcoin survived a downtrend of over a year and a half (2012) when weaklings panic sold their $30 coins for a third or less than what they paid.

If they'd had the courage to hold for at least 2 years, they would have realized at least a 100% profit even during capitulation down to $66.

If they'd waited 2.5 years, they would have realized a gain of over 1000% even during the recent capitulation below $400.

Bitcoin has never had a 2 year downtrend. Selling during a temporary low is about the worst thing anyone could do.

It sounds like you got scammed by the bull trolls who want people to lose money by selling their coins cheap and spam their FUD in hopes of cheaper coins. Shame on them, but shame on you for listening to them and actually taking them seriously.

[Melbustus]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold. 

Seriously? Did you think it wouldn't be extremely volatile? Did you never view your holding period as anything more than extremely short?

If you're not willing to hold for 5-10yrs, and understand that you could go through periods of being 90% down, then you are unfit to hold bitcoin (or any non-large-cap stock or bond, for that matter) as an investment.

The sooner weak-handed (weak minded??) folks such as yourself leave the bitcoin ecosystem, the better.

I do hope this experience spurs you to learn a thing or two about reasonable investment mindset and expectations, though. But please - don't come back until/unless you do learn.

[DigiDoubloon]

Tis a sad day when a lass abandons ship 

[leopard2]

I wish it was just 1 coin.  This was my sure thing so I could stay at home with my daughter.  I feel so stupid.  

Don't do that

Sell 0.75 BTC for cash and 0.25 BTC for NMC

NMC behaves like a BTC option - should BTC go back to 1000, NMC may go from 2 to 10 or more

That way you can extract cash and stay invested

[pinksheep]

it's even sadder some of the replies she has been given; I'm sure she's annoyed enough without basically being told that she's stupid & not to come back until she has learned more about investing. Just my opinion but I don't think comments like that help anyone.

[rjp55]

it's even sadder some of the replies she has been given; I'm sure she's annoyed enough without basically being told that she's stupid & not to become back until she has learned more about investing. Just my opinion but I don't think comments like that help anyone.

Some people have gone too far but the message should be the same. You can't wrecklessly and greedily invest money in something hoping for a get rich quick return. Do your homework, research about investing, research about what you are investing in. These examples provide incentive to why its absolutely necessary.

[counter]

I think it was silly of you to sell all your coins I think the price is just "low" for the time being.  Think back to why you got into BTC and ask yourself what has really changed?

[Chopperman]

OP was strong, realized and accepted that the initial advice received was bad, had bad timing and wasn't the right thing for OP.   Better to cut the loses rather than suffer emotionally for much longer.

Stage 5 - Acceptance.

Everyone else in this thread - Stage 1 - Denial.

[pinksheep]

I still think she should have held on to even a tenth of her coins. If things go well, they could one day have covered her other losses.

[600watt]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold. 

all the people that bought on top of previous bubbles felt the same pain you experienced. the ones who resisted and did not sell are very happy about it now. a theoretical loss of 50% feels ugly as hell, but a realized loss in an asset, that came back to new ath may turn you in a hateful person.

i started to get involved in btc in 2011, but i really put in almost all my money in may 2013. a few weeks after my move the price was down more than 40% - i felt so stupid. i will never forget how it felt.  the only reason i did not sell was, it was such a big loss, i just didn´t have the guts to realize it. i still believed in the superiority of bitcoin, and i still thought it was a great invention but i learned that those things may not matter when price is going down anyway. when i invested i was so confident about it that some people around me also started investing. being the reason for their loss made it even worse (they are rich, so i knew they weren´t hurt, but i was anyway ashamed)

but then came september, october, november...

you somehow managed to get through the (hopefully) bottom of 339. why give up when we could be behind the bottom ? i really know how you feel. i would buy back at least 30 % of your coins if you do not need the money desperately and wait a year or two. be prepared to lose it all, write it off in your mind.

there will be another november. the bitcoin economy is so much bigger than 12 months ago. all this gox/china/ fudquaketsunami will be over with sooner or later.

i would really like to invite you to THE PARTY when it happens....

[YipYip]

This man extolled me to buy $520 BTC around 1 week ago, cos 'Bitcoin really was about to take off'.

..its goes on ..veronica u mentioned being a loser ..well i agree 

This same man states:

Honestly I have had an awesome crypto day

I took a 5% haircut on getting back into a ltc pump that i nearly missed with my play money ...i love trying to day trade crypto its like a wildcat on meth....so many lessons so fast

Yet he has still not learned one of the most fundamental lessons. Never take a trade in no-mans land. We are right at this very minute, slap bang in the middle of a downward trading range. Bitcoin could go either way based on the whims of anyone with not even particularly deep pockets and Yip Yip is splashing about in these crypto-puddles thinking he is learning lessons whilst the only lesson he needs to learn here, is being totally ignored.

My 200 ltc day trading account is exactlty that ...for fun ..btw day trading crypto is friken insane ...there is nothing more volitile and whippy than crypto

So I treat it as a fast track learning experience ...so far i have been playing with my 200ltc for teh past 3 weeks and i am down about 5 ltc ...i would be intrested to see how u would fair fatCat scalping nearly everyday in the current market

Also so that we are talking straight ...it was sub 500 ...I am totally fine with any position sub 500 ...most of my recent positions average around the 450 mark with the highest fill being 510

I have absolutely no problem with any of these ....200 or 300 dream on ...you may get a flash crash but the world you are looking for I doubt it will appear...it may but i dont see it

You have to be to cool for school to get absolute bottom and its mostly for textbooks and hindsight

Also I am a believer.... have been since day 1 ..i have created 2 instruments to allow mainstream investors to enter the market ..I am totally "ALL IN"

Working in teh banking sector for the past 10+ years & programming the last 20 years I know a good thing when i see it in my filed of XP ..I have been in meetings @ the bank and they are Sooooooooooooooooooooooooooooooo scared of cryopto as they have already experienced the pain from paypal

Its all about control ... did u know that paypal has over 35-45% of all retail transactions.....

...so lets see where we are in 12 months ..even Veronica would have a smile on her face

Take a happy pill Matt and take a position

[MatTheCat]

Take a happy pill Matt and take a position

This is a problem with you as far as I can see.

U are on fkn happy pills and/or ten cups of coffee per day.

It fucks with ones judgement don't you know?

[YipYip]

Take a happy pill Matt and take a position

This is a problem with you as far as I can see.

U are on fkn happy pills and/or ten cups of coffee per day.

It fucks with ones judgement don't you know?

I am more of a hookers & cocaine type of guy

[Torque]

Reading this thread makes me sad for the OP.  No one that has held bitcoin for at least 24 months, regardless of what they paid for it, has lost money.

A lot of spectators, even bitcoin owners are starting to feel as if the price of BTC has seen it's top.  They also believe that the vast majority of the world's population has in-depth knowledge of Bitcoin and all of its advantages, which is grossly overstated if not just plain wrong.  The opposite is true, the vast majority is completely oblivious and has never heard of Bitcoin, yet.  Of those that have indeed heard of Bitcoin, the majority of that subset don't have enough info or the correct info to make the decision to buy some, or are not in the position to buy any (i.e., broke or no access to an exchange, etc.).

It's estimated that there are currently only 2-3 million people WORLDWIDE who actually own any bitcoin at all.  By contrast, the population of just one large U.S. city, like New York, is ~8.3 million people.  Imagine what happens to the price when suddenly tens of millions, even a hundred million people around the world eventually want to buy some bitcoin.  This could happen faster than anyone could imagine.

[kireinaha]

Reading this thread makes me sad for the OP.  No one that has held bitcoin for at least 24 months, regardless of what they paid for it, has lost money.

A lot of spectators, even bitcoin owners are starting to feel as if the price of BTC has seen it's top.  They also believe that the vast majority of the world's population has in-depth knowledge of Bitcoin and all of its advantages, which is grossly overstated if not just plain wrong.  The opposite is true, the vast majority is completely oblivious and has never heard of Bitcoin, yet.  Of those that have indeed heard of Bitcoin, the majority of that subset don't have enough info or the correct info to make the decision to buy some, or are not in the position to buy any (i.e., broke or no access to an exchange, etc.).

It's estimated that there are currently only 2-3 million people WORLDWIDE who actually own any bitcoin at all.  By contrast, the population of just one large U.S. city, like New York, is ~8.3 million people.  Imagine what happens to the price when suddenly tens of millions, even a hundred million people around the world eventually want to buy some bitcoin.  This could happen faster than anyone could imagine.

Yes, very sad. 

All she had to do was hold for a few more months, in all likelihood. Things will pick up again, everyone who has been around for at least two bubbles knows this well. Right now bitcoin is similar to the automobile in 1900. It's not even close to saturation... only a select few have the knowledge, drive, and resources to join in the system. That will change soon,

[chessnut]

It's estimated that there are currently only 2-3 million people WORLDWIDE who actually own any bitcoin at all.  By contrast, the population of just one large U.S. city, like New York, is ~8.3 million people.  Imagine what happens to the price when suddenly tens of millions, even a hundred million people around the world eventually want to buy some bitcoin.  This could happen faster than anyone could imagine.

this is very true, considering 10 million new users would be competing for a minority of the coins that exist, as many are hoarded/destroyed and will not be sold until many years from now.

the wonders that a 10bil market cap would do for bitcoin.....