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

[Bitcoin Magazine]

yea well i bought 2,800 once for the price of a zimbabwe $100 trillion note.  hodl.

[umair127]

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)

Day trading is very tricky, its about patience, you cant just jump in and expect to make profits.  you should have play with a little at a time, thats what I did,  I also lose btc but very little.  There are a lot pumpers and dumpers out there, so you have to watch for those type of groups.  you must learn not to jump in fast when prices are high or when is dead. like dogecoin rigght now and vertcoin.

[MrBea]

This is destructive thinking that will lead you to sell at your break even point.  It will tgen continue to rise into next bubble, you will panic buy back at a loss and then lose money again as you panic sell the crash.

Buy hodl
Buy hodl more
Repeat

Be happy when it rises.  Your investment goes up.
Be happy when its falling so you can buy hodl at a discount

[Dafar]

Day trading is very tricky, its about patience, you cant just jump in and expect to make profits.  you should have play with a little at a time, thats what I did,  I also lose btc but very little.  There are a lot pumpers and dumpers out there, so you have to watch for those type of groups.  you must learn not to jump in fast when prices are high or when is dead. like dogecoin rigght now and vertcoin.

Doesn't day trading mean you buy and sell on the same day? How much patience do you need in a day? And fuck vertcoin... I bought someone of that too but haven't looked at it since it dropped almost in half right after I bought some. I hope its not a threat to LTC, fuck vertcoin

This is destructive thinking that will lead you to sell at your break even point.  It will tgen continue to rise into next bubble, you will panic buy back at a loss and then lose money again as you panic sell the crash.

Buy hodl
Buy hodl more
Repeat

Be happy when it rises.  Your investment goes up.
Be happy when its falling so you can buy hodl at a discount

I'm not selling at my break even point... I did not risk this much money just to get it back after experiencing so much stress and sadness. I want to come out on top. If we see another bubble and break ATH... I am thinking of selling around the $2000 mark just in case that ends up being a barrier. But I have to see how fast we get there, and if we quickly shoot past $2000 I will hold til $3000/btc, or sell as soon as we drop 15% from ATH. I could keep holding and hope that there is another bubble after that sometime in 2016 but I would rather take some profits and get back in at a lower price since all the bubbles so far have come down and created better buying opportunities. Something I should have done while I was ahead since Nov.

But I suck at investing/trading... what do you guys recommend?

[ShibaWow]

you shouldn't write your litecoin off, litecoin is a good coin..

just hold and wait, btc will break the 1k mark by the end of the year

[umair127]

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.

no you just dont know how to trade, and bitcoin will reach 700 again and stop looking it as a product and treat it like a currency.

[dragone]

Its okay, you learned your lesson though right?

[bryant.coleman]

This is why I have been saying for the past one year or so, that no one should invest in any alt-coin (perhaps with the exception of Litecoin). People who own huge quantities of them will make sparkling posts here, claiming that their coin is soon going to the moon. Once the hype is over (and after the OPs sell their coins), the prices will crash to almost nothing. You will end up losing your money and Bitcoin ends up losing a potential user.

[dragone]

ALT coins is just a pure gamble 

[drporschef]

ALT coins is just a pure gamble 

Its why i dont invest in any of them. 

[mafia]

I've been trading with alt coins for a while and it's very hard to make a decent profit and know when to sell when the price is dropping.

[Varicon]

Like everyone has said, hold onto your coins, if you break even at the $1300s it's possible we'll see that figure again soon, it's already been there once.

[tspacepilot]

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)

Why do you write off the 2BTC in litecoins?  If you don't like the chances of litecoin the perhaps you should trade it for BTC?  If you're calculating the values of your currenct BTC stash and considering it to be $5367, pushing in those two more BTC bumps you up another 1k$,  I think that's signficant.

[Dafar]

Why do you write off the 2BTC in litecoins?  If you don't like the chances of litecoin the perhaps you should trade it for BTC?  If you're calculating the values of your currenct BTC stash and considering it to be $5367, pushing in those two more BTC bumps you up another 1k$,  I think that's signficant.

Actually I'm hoping LTC has another bubble again. I bought in at $30... it's like $11 now, I feel like I should buy some more while it's "cheap" to cost-avg but too demoralized from all the ass raping

[bryant.coleman]

Actually I'm hoping LTC has another bubble again. I bought in at $30... it's like $11 now, I feel like I should buy some more while it's "cheap" to cost-avg but too demoralized from all the ass raping

The prices of all these alt-coins are dependent on Bitcoin. When the Bitcoin exchange rate goes up, theirs also increases. Currently Bitcoin is in a bad state, and it disproportionately affects the alt-coins.

[Bitcoin Magazine]

i had a nitemare i kept my bitcoins away from the cops and sold $262,122 at once, and my dad+mom nearly killed me

[bitcoinsrus]

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)

Dafar, to be honest, we learn from our mistakes.  Personally I have not found out btc until after the 1k rise.  I did very many stupid things as well (btc related).  At least your in now because literally, of all the people I know, I do not think 1 of them even knows what bitcoin is.  In a year things should be better (to make up for any losses etc)

[tspacepilot]

Why do you write off the 2BTC in litecoins?  If you don't like the chances of litecoin the perhaps you should trade it for BTC?  If you're calculating the values of your currenct BTC stash and considering it to be $5367, pushing in those two more BTC bumps you up another 1k$,  I think that's signficant.

Actually I'm hoping LTC has another bubble again. I bought in at $30... it's like $11 now, I feel like I should buy some more while it's "cheap" to cost-avg but too demoralized from all the ass raping

Aha, I think I see what you mean.  Still, don't get too discouraged.  I think that tracking the price ratio between btc and ltc could be a profitable game to play, but I'm too scared to try day-trading.

[apee]

Thanks for this eye opening info for all newbies, to never consider alt coins.

[counter]

I'm thinking you would have done better if you would just buy low and sell high from the start.  Instead of going all in and taking on a large amount of risk.