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

[zangokoon]

hold for long, but not for short
to gain money in a big lie, you have to know it's a lie

[mShz]

I think that investing fiat currency in BTC is often dangerous, but don't worry that with a good trading maybe you are able to have back your money. Good luck mate 

[MightyBTC]

Don't invest in alt coins, bitcoin is the number one and It has the biggest potential no need to invest in other shity alt coins 0.0

[Lauda]

I'm sorry for your loss. Investing in cryptocurrencies is very risky to begin with, not to mention day trading (altcoins). It is very hard to keep track of that unless you've gained a lot of experienced.
I've started with a 0.0001 BTC balance in august last year (for altcoins only). In 3 months time I've turned it into ~2BTC.

[oureptsC]

Day trading is so difficult, at least you still have something left after trading.

[pozmu]

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

 
What are you talking about?
Since BTC hitting $1k to ~Jan/Feb 2014 I've seen several announcements of big pumps, like 90% were true.
Since then like 1 in 5 "promising" coins goes to the moon.
Blackcoin appreciated like 100x in 2 months.
Aurora 30x.
Just investing in Doge before Wolong's pump + one of two Blackcoin 10x pumps would give you 50x profit.

I would say it is a gamble, but bitcoins used to be a gamble too.

There is only one difference between BTC vs altcoin gamble:
BTC: you're gambling on that it's value will rise.
ALTs: you're gambling on which coin will rise - no doubt some will, you just have to choose right one.

Given OP's fund I find it little strange he didn't invest a bit in mining rig, it would surely offset a percentage of his losses.

[dumbdragon]

Some people just consider it a gamble thats why. And dont want to take any risk, its why some consider eye opening?

[faninasir]

investing bitcoin in other alt coin and expecting to get a good return in a little time is day dreaming ,, first of all should have done that ,, secondly investing in a coin is a long term investment shouldn't think of it a day trade , so its better now that you wait for a long time now and pray that bitcoin get's to 4k value which my friend i dont happening any time soon ..

[Ghris]

It is possible to make good money on altcoins.

Started my journey with 500 euro, went up to 9000 euro 2 weeks later. If you sell at that 9000 you are perfectly fine. If you waited like me... it crashes back to 3000 in 2 days.
So, still a nice profit as I sold it at 3000, but could have been much more!

My strategy was easy, between alot of altcoins, there are a few diamonds in the rough. So I took around 25 different altcoins which had a trading graph I liked and waited.

[kuroman]

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)

Sad about your loss, I don't have anywhere as much to invest in cryptos, but I think was affected your investment most is the BTC Price collapse that affected all other altcoins at the same time.

I think that you should consider different ways and aspect of investing in cryptocurrencies
ie: Long terms investment (HODL) and shot terms investment, safe(er) investment, and high risk high reward (which most altcoins are).

Considering these aspect you should adjust the capital investment per category.

As for you being a fucking idiot, I don't think so, there is always a risk with investing, it's just plain statistics, which means luck is still a prominent factor, and I'm sure that this made a better investor and gave you experience so that in it self is a value

[Acidyo]

Which coin was it you invested in that went from 80 sat to 2? You must've falled into the dumbest trap ever, I don't even remember any coins dropping like that so fast.

You should spend more time in the altcoin section of this forum if you are gonna daytrade altcoins, so you know what's going on and when to sell or buy. Never buy coins that are too new, most are made my devs that only make them for a quick pump and dump.

[beetcoin]

if you treat bitcoin and cryptos like some get-rich-quick whore, she'll treat you like some get-poor-real-fast, whore soliciting john. plus, if you keep your pants on longer, you'll be able to make calmer, more rational moves.

[dwma]

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 lot of us lost a decent amount of $$ in the greater ship of fools theory.  THat being that there would be more people buying into altcoins and it'd be some sort of craze.  Instead, people just made more and more of their own coins diluting what little capital was being pumped into the altcoin market.

[onlyu]

No point wasting your time regretting the past.

Look into the future and learn from mistake.

[Dafar]

Thanks for all the responses. I have been buying more BTC around $550-$640... so I have well over $16K invested right now, but I'm only buying BTC. Not touching any more alt coins. I don't need to guess which one will explode and which one will sink since I always pick the wrong ones. I just really hope we see another BTC and LTC bubble, that's what I'm banking on. And hey... risking $20K in your late 20's for a chance to buy a house with BTC in the future? I'm okay with that.

As for you being a fucking idiot, I don't think so, there is always a risk with investing, it's just plain statistics, which means luck is still a prominent factor, and I'm sure that this made a better investor and gave you experience so that in it self is a value

Yes, I now stick with BTC only. And I've learned to avoid hype.. when a coin is getting a lot of hype it is a signal to either stay away or sell. I'm not touching shit like Darkcoin or Fluttercoin because I feel like the opportunity has passed and everyone is now talking about it on twitter. I rather buy something when no one is talking about it.

Which coin was it you invested in that went from 80 sat to 2? You must've falled into the dumbest trap ever, I don't even remember any coins dropping like that so fast.

You should spend more time in the altcoin section of this forum if you are gonna daytrade altcoins, so you know what's going on and when to sell or buy. Never buy coins that are too new, most are made my devs that only make them for a quick pump and dump.

Kittehcoin, I think it's at 1 sats now but I'm still gonna hold on to it because there is no point selling for that low. I bought at 80 and it went to 110 but I was greedy and expected it to go above 200 so I held even when it fell past 60... I should have had an exit plan but I feel into the hype. Even pricks like Max Kaiser was hyping the fuck out of this coin and I feel for his trap... he is a pump n dump scam artist.

[zahra4571]

No need to worry about that, you just need to be little patient, btc is getting more popular in seconds, so its very possible next year it will be 10x higher than now.

[bluefirecorp]

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.

Following that logic, Bitcoin should have always stayed at a rather low value. It's a catch-22. For a coin to be useful, it needs to have value. For a coin to have value, it needs to be useful.

[RodeoX]

You're not an idiot bud, this is all new for everyone. However anyone who reads this and then "invests" in an alt coin is. Most alt coins are created specifically to get your money into the pockets of their creators. So it sounds like your money went to a successful project.

My advice is that until you completely understand bitcoin, do not get sidetracked into alts. And once you understand bitcoin you won't want them anyway. 

[Cryptogirl82]

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)

Hodl and wait for 10k!!

[wunkbone]

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)

Buy more to average down..