$16,264.50 ......I'm a fucking idiot

[Dafar]

Since I joined the Bitcoin bandwagon in November 2013, this is how much money I have put into Coinbase to purchase bitcoins.


Currently I only have 12 BTC, yes just 12, valued at $5367............. I have lost about 11 bitcoins investing in Alt coins (one of the Alt coins I put a huge amount of went form 80 satoshi to 2 satoshi and the devs left the coin, so I consider that money gone). I also have about 2 BTC worth of LTC but given my luck i might as well consider that gone too.


I need 1BTC to be $1355.375 in order to break even. So I have to bank on BTC going above ATH again. And if by some chance 1BTC passes $4k mark I will have $40,000 and I will be very happy (this is the only thought that keeps me from being depressed right now).


If I waited and spent that $16K now, I could have had 36 bitcoins in my posession.




How much of a fucking idiot am I?


I don't even know how the fuck I was able to spare $16K form Nov 2013 to now since I don't even have any savings myself (but no debts either)

[El Dude]

Go look up the definition of hodl.

[spazzdla]

Day trading.. don't do it.

Also yes, HODL.

[AaronBreillat]

How much of a fucking idiot am I?

First of all, investing in Bitcoin expecting to get a return is extremely dumb. Do you also invest in your PayPal balance? USE Bitcoin, investing is stupid.

I need 1BTC to be $1355.375 in order to break even.

Lucky for you the chances of that happening are pretty good.

[LeChatNoir]

Since I joined the Bitcoin bandwagon in November 2013, this is how much money I have put into Coinbase to purchase bitcoins.


Currently I only have 12 BTC, yes just 12, valued at $5367............. I have lost about 11 bitcoins investing in Alt coins (one of the Alt coins I put a huge amount of went form 80 satoshi to 2 satoshi and the devs left the coin, so I consider that money gone). I also have about 2 BTC worth of LTC but given my luck i might as well consider that gone too.


I need 1BTC to be $1355.375 in order to break even. So I have to bank on BTC going above ATH again. And if by some chance 1BTC passes $4k mark I will have $40,000 and I will be very happy (this is the only thought that keeps me from being depressed right now).


If I waited and spent that $16K now, I could have had 36 bitcoins in my posession.




How much of a fucking idiot am I?


I don't even know how the fuck I was able to spare $16K form Nov 2013 to now since I don't even have any savings myself (but no debts either)

Kittehcoin bagholder? haihaihaihaihai

[Dafar]

First of all, investing in Bitcoin expecting to get a return is extremely dumb. Do you also invest in your PayPal balance? USE Bitcoin, investing is stupid.

Why is it stupid when it has proven itself to be the best investment opportunity of my lifetime?

[Dafar]

Kittehcoin bagholder? haihaihaihaihai

Yes, but I prefer to be known as Kittehcoin whale

[AaronBreillat]

Why is it stupid when it has proven itself to be the best investment opportunity of my lifetime?

Explain to me the mechanic in Bitcoin that gives it a positive expected value? pro tip: there isn't.

When you buy Bitcoin you are essentially gambling on the price, its gambling not investing. There is nothing "magic" in Bitcoin that causes it to increase in price.

[Dafar]

Why is it stupid when it has proven itself to be the best investment opportunity of my lifetime?

Explain to me the mechanic in Bitcoin that gives it a positive expected value? pro tip: there isn't.

When you buy Bitcoin you are essentially gambling on the price, its gambling not investing. There is nothing "magic" in Bitcoin that causes it to increase in price.

Any stock you buy is gambling as well because no one on this earth knows if the price will be higher in the future. 

[AaronBreillat]

Any stock you buy is gambling as well because no one on this earth knows if the price will be higher in the future. 

You are perfectly correct with that statement. One difference is that the company may be appreciating in value due to it making a profit, thus increasing the stock price, but for the most part stock trading is also gambling.

[Dafar]

Why people never invest in coins that makes sense, like GRS or even LTC
Also,I'm 99% sure we'll see BTC at 10k some day in our life-time, so don't worry.

I want it NOW... now when I'm 50+

[hilariousandco]

Go look up the definition of hodl.

Haha. All you can do is hodl long enough and hope that Bitcoin reaches that amount sometime in the future. I'd put the coins you have in cold storage and use this time to try earn some more coins to lower the margin a bit.

[GhanaGamboy]

If I waited and spent that $16K now, I could have had 36 bitcoins in my posession.

How much of a fucking idiot am I?

You cant predict future. I could feel like fucking idiot myselves not going all in under $150/BTC and sell near ATH, but I dont.

[Dafar]

Go look up the definition of hodl.

Haha. All you can do is hodl long enough and hope that Bitcoin reaches that amount sometime in the future. I'd put the coins you have in cold storage and use this time to try earn some more coins to lower the margin a bit.

That's what I'm doing.... no more investing in alt shitcoins. I'm considering buying more LTC though since it's the only reputable alt coin and basically bitcoin #2.  I've never even downloaded a wallet because I'm scared of my HD crashing or me accidentally deleting the wallet file.

This is your problem, the universe or even BTC market do not obey your will, or anyone else (unless your have other means $$$), learn to ride the waves or don't go to the ocean.

Wise


but I do feel like I've learned a lot... but after losing about $10k

[1Referee]

Since I joined the Bitcoin bandwagon in November 2013, this is how much money I have put into Coinbase to purchase bitcoins.


Currently I only have 12 BTC, yes just 12, valued at $5367............. I have lost about 11 bitcoins investing in Alt coins (one of the Alt coins I put a huge amount of went form 80 satoshi to 2 satoshi and the devs left the coin, so I consider that money gone). I also have about 2 BTC worth of LTC but given my luck i might as well consider that gone too.


I need 1BTC to be $1355.375 in order to break even. So I have to bank on BTC going above ATH again. And if by some chance 1BTC passes $4k mark I will have $40,000 and I will be very happy (this is the only thought that keeps me from being depressed right now).


If I waited and spent that $16K now, I could have had 36 bitcoins in my posession.




How much of a fucking idiot am I?


I don't even know how the fuck I was able to spare $16K form Nov 2013 to now since I don't even have any savings myself (but no debts either)

You are not an idiot, you just invested your money, which isn't paying off.

Just hold the 12BTC that you have, stop investing in altcoins for now, just hold your bitcoins.

[hilariousandco]

Go look up the definition of hodl.

Haha. All you can do is hodl long enough and hope that Bitcoin reaches that amount sometime in the future. I'd put the coins you have in cold storage and use this time to try earn some more coins to lower the margin a bit.

That's what I'm doing.... no more investing in alt shitcoins. I'm considering buying more LTC though since it's the only reputable alt coin and basically bitcoin #2.  I've never even downloaded a wallet because I'm scared of my HD crashing or me accidentally deleting the wallet file.

I think most people tend to lose out investing in shitcoins than actually turn a profit. I don't think buying some LTC at this point will be a bad investment. I'm sure it'll rise again soon along with Bitcoin.

And just back up your wallet files to several places. Put them on a USB stick and a few CDs/DVDs etc.

[TrillionBTC]

I hate to see these stories because I believe in the value of BTC. Not only as a currency but an investment too. I would be loosing a lot of sleep if I had bought BTC in Nov 2013 at $1200 each too especially now. At this point I would have to agree with your strategy of hold for now and wait for the price to go up. AND STOP BUYING THESE ALT COINS.

I have found better ways to invest my BTC rather than the hold strategy but unfortunately for you, at the price you paid, none of them would work for you  

[GhanaGamboy]

That's what I'm doing.... no more investing in alt shitcoins. I'm considering buying more LTC though since it's the only reputable alt coin and basically bitcoin #2.

Do research how usefull coin is first, I mean how many merchants accepting it. I think LTC is master in speculative investing, but you cant do much else with it.

[TrailingComet]

Sounds like you have been over active for a relative novice
Still chances are you will eventually make money on the position if you hold on

[Polycoin]

Since I joined the Bitcoin bandwagon in November 2013, this is how much money I have put into Coinbase to purchase bitcoins.


Currently I only have 12 BTC, yes just 12, valued at $5367............. I have lost about 11 bitcoins investing in Alt coins (one of the Alt coins I put a huge amount of went form 80 satoshi to 2 satoshi and the devs left the coin, so I consider that money gone). I also have about 2 BTC worth of LTC but given my luck i might as well consider that gone too.


I need 1BTC to be $1355.375 in order to break even. So I have to bank on BTC going above ATH again. And if by some chance 1BTC passes $4k mark I will have $40,000 and I will be very happy (this is the only thought that keeps me from being depressed right now).


If I waited and spent that $16K now, I could have had 36 bitcoins in my posession.




How much of a fucking idiot am I?


I don't even know how the fuck I was able to spare $16K form Nov 2013 to now since I don't even have any savings myself (but no debts either)

A very big fucking idiot frankly.

There's no room to "invest" in Bitcoin anymore. The highest price I'd predict it getting from now is about $500. Bitcoin will never ever reach anything above $500 worth again. It's dead franky, you're just wasting your money.