Bitcoin Losers

[bitebits]

I was going to write something lengthy addressing the many things I find offensive about this post. But I'm going to keep this short as you have already expressed a complete lack of interest in hearing from anyone who might offer information from the perspective of success.

You started your own business, for which I commend you. You give no information but it sounds like you were under capitalized and when a downturn occurred you could not ride it out. Did you study what had occurred or did you just blame the downturn?

You stated that you bought bitcoin near the peak. Had you done any research on what bitcoin was and how market forces work or were you just being led by the hype?

And now you state that you don't want to hear from any of the successful people. You are demanding to converse only with the losers.

Are you seeing a pattern yet? Most successful people start off making a lot of mistakes. The key is they analyze what went wrong and learn from them.

BTW, you haven't lost any money. Losing money occurs when you buy high and sell low. Until you sell you have only lost potential and it makes no difference where value is at a given instance as long as you don't sell. I'd advise buying more when it is lower (now) but you've already said that you invested your 'life savings.' You might also want to analyze that decision.

Very nice analysis, I surely hope it makes the OP and others (including me) think for a second.

That said: please read about what you actually bought OP, it likely makes you feel a whole lot better about your investment

[jonald_fyookball]

Anyone else feel like one of the bitcoin losers? We hear a lot about all the winners, now including some 15 year old child, but very little on the currency's losers. I got swept up in the mania last November and dared to invest my life saving into purchasing 1 bitcoin, just as it was near peak. That turned out to be a terrible purchase for me as the value dropped since, so bitcoin has only ever lost me money. Anyone else in my boots? I'd still like more bitcoins but going on my past 6 months my confidence and trust in this new currency has been shattered.  

Seriously, people like you shouldn't invest. EVER. IN ANYTHING.
You put money you really need in an asset that is highly speculative.
Now, you cry, because you are not a millionaire after 6 months.

6 months are nothing for an investment.

Where did I ask to be a millionaire? There was a lot of hype at the end of last year and I invested for my families future not to be some sort of spiv.

I was in the same position, I didn't ask to be a millionare but in 2011 when they were $14 I should have bought at least one or two. I didn't have the resources then and I don't now. The only way to get them now is through sig campaigns and getting lucky. I do feel like a loser.

you couldnt scrape together $14

[skottiejay]

No, when it comes down to "Food on table" and "paying bills on time so I have electricity/water" bitcoin didn't exactly cross my mind at the time. I don't know why that's so difficult to understand.

[snarlpill]

I kind of understand what OP is talking about here. And people- get off your high horses knocking the amount of his life savings. That is rude and disrespectful, and there are millions of people on this planet that would feel like a millionaire if they had something valued at ~$650 USD.

I had read about Bitcoin for a few years, and gobbled up every news story I came across about it. Don't know why I didn't think to directly look into buying any/investing in it, I guess I just never went off to the side (a new browser tab or such) and searched for how to buy some. I finally got into it for real at the beginning of this year. And I will admit, that I, like many, did have high hopes and dreams of some wild overnight success with the little bit of money I had put into it. I ended up sitting on my ass just soaking it all in, reading and learning more and more about it as I went. Did all of the faucets/Bitcoin-earning sites/cloud mining and such. Got into trading altcoins on Cryptsy and ended up doing pretty well actually. Especially coming from buying and selling stocks for a few years, I thought Cryptsy and alt-trading was cake compared to that. Hit a few solid gains and started to feel cocky, thinking that surely I had found my new, badass stay-at-home trading career. When Blackcoin was getting pumped Hard, I bought all-in a few times and rode the pump. Each time I sold and got out I watched as it continued to rise, and thought I had better get in one more time. I ended up losing my ass and all of my gains as it went down and down, as I held pipe dreams of it bouncing back up. But alas, no it did not. I was broke, but humbled, and that can be a good thing sometimes.

However, I continued with Bitcoin, further diving into the network and the community of it. Today, I now own my own BTC website with a faucet that I taught myself how to code and write HTML, PHP, CSS and the like along the way. I have also met a lot of amazing people and learned a few things about technology yes- but life also. Though I am definitely closer to poor than rich right now, I am very happy with life and my decision to get into Bitcoin. I love being a part of this community, and am proud to be involved with Bitcoin- something I see as world-changing. We are part of the solution for fixing this somewhat-broken world, not part of the problem. I fully see Bitcoin as the device that will finally give the power back to the people. A financial entity that can unite the world, including those living in politically-oppressive countries and those under sanctions from multi-gove.rnment bullshit, or those living in countries where women would normally have no power. (Have you seen the article about the Afghan girls writing and speaking out and getting paid with BTC for it? Rock on ) In an increasingly privacy-invasive world, we are helping protect anonymity and freedom of speech and finance. And although I still have to use fiat currency for most day-to-day things, such as paying bills, I feel so much more liberated from the banksters' stranglehold on the world already. I am very confident that Bitcoin at $1200 where OP bought in at is still Very undervalued compared to the future. There is so much news breaking every single day of new companies, states & govs., and the like embracing it that I think there is no way we could fizzle out now. And I don't even really own much Bitcoin right now to benefit from a huge future price surge, I've had to spend what I had along the way due to financial hardships. I would be consistently buying more if this was a possibility at the present time. But like I said, I'm still happy. I'm happy to be a part of something great with you all. Remember that we are all in this together. Don't rob somebody or try to perpetrate some BS Ponzi/HYIP scheme. It may benefit you in the short-term, but it is only hurting our community in the big picture of it. I am proud to say I am a part of this movement.

As far as a little speculative advice for OP- I feel like Darkcoin has a very promising future. That is personally something I would invest in also given the funds. And, hopefully soon I will be able to add some to my holdings. But just remember- all of this- these cryptocurrencies, this is still only the beginning. I feel like if you sold now to recuperate losses, you would end up deeply regretting it in the future. But I could be wrong. It is speculation after all.

[TopherB]

No, when it comes down to "Food on table" and "paying bills on time so I have electricity/water" bitcoin didn't exactly cross my mind at the time. I don't know why that's so difficult to understand.

So what is the plan? And I don't mean bitcoin related. How are going to increase your disposal income? Or are you content through inaction to perpetually scramble to feed yourself and pay your bills?

Do you have a plan? A plan to make a plan? Or do you have your excuses all lined up?

Yes, I'm in a pissy mood today. Doesn't change the truth at all.

[Minecache]

You have a fundamentally flawed way of thought that stems from a low financial intelligence.

I bet you think that early adopters were rewarded dis-proportionally or didn't deserve their coins as well right? The ability to detect promising technologies is VERY hard work, try your luck in the altcoin announcment section and be an early adopter for another coin. Most people will bitch and moan about the unfairness of early adopters but will never invest a cent into any of the promising altcoins.

Nope I've never thought any such like. For the record I was too busy supporting my business and providing jobs for my employees while bitcoin was formed. I didn't have time to analyse and invest then. I did in November last year and bought my bitcoin and a couple of alts as they were cheap in comparison.

[skottiejay]

No, when it comes down to "Food on table" and "paying bills on time so I have electricity/water" bitcoin didn't exactly cross my mind at the time. I don't know why that's so difficult to understand.

So what is the plan? And I don't mean bitcoin related. How are going to increase your disposal income? Or are you content through inaction to perpetually scramble to feed yourself and pay your bills?

Do you have a plan? A plan to make a plan? Or do you have your excuses all lined up?

Yes, I'm in a pissy mood today. Doesn't change the truth at all.

Pissy or not, I don't think this is the appropriate tone to take with anyone at all. I've never once raised my voice to another person here or in real life, and I don't think anyone else should. Opinions are like you know what.

I have a plan, yes. I finally have pieces coming together, the larger part of the pie is making enough money on the side to get myself back on track. You don't have a single idea where I'm coming from, what I've been through and what I've had to sacrifice to have what little I have today. Saying "I'm pissy today" is just a cop out for being rude.

And no, no excuses. I never once made any excuses where I am today is through no fault of my own. If you have a problem with that, or that's not good enough for you then I really don't care.

[skottiejay]

And now for the first time in my forum history I've had to actually ignore someone.

Here's the deal OP, I know this is counter from what I've said or what you wanna hear but you should suck it up. There are still plenty of good opportunities to get some coin, and to invest in BTC even if it means mining altcoin until you earn enough to make a bit of money on the side. What you should do is READ MORE into investing, trading, etc and make sure you know your stuff that way you won't make any mistakes and if you happen at a loss, RIDE IT OUT. There's no telling what'll happen, I mean look how many twists and turns BTC took in the past 2 years and where it's at today.

Keep your head up and stay strong, you can do it man. You can get back your money, it's going to take time yes, but you can do it.

[sed]

Anyone else feel like one of the bitcoin losers? We hear a lot about all the winners, now including some 15 year old child, but very little on the currency's losers. I got swept up in the mania last November and dared to invest my life saving into purchasing 1 bitcoin, just as it was near peak. That turned out to be a terrible purchase for me as the value dropped since, so bitcoin has only ever lost me money. Anyone else in my boots? I'd still like more bitcoins but going on my past 6 months my confidence and trust in this new currency has been shattered.  

Yah, I think it wasn't too smart of you to drop your life savings on something as speculative as bitcoin, however, you already learned this lesson the hard way it seems.  I just hope that you are still holding the bitcoin because most likely it's going to rise again to what it was at when you bought it so you could sell at that moment and put your money in a savings account

[Minecache]

And now for the first time in my forum history I've had to actually ignore someone.

Here's the deal OP, I know this is counter from what I've said or what you wanna hear but you should suck it up. There are still plenty of good opportunities to get some coin, and to invest in BTC even if it means mining altcoin until you earn enough to make a bit of money on the side. What you should do is READ MORE into investing, trading, etc and make sure you know your stuff that way you won't make any mistakes and if you happen at a loss, RIDE IT OUT. There's no telling what'll happen, I mean look how many twists and turns BTC took in the past 2 years and where it's at today.

Keep your head up and stay strong, you can do it man. You can get back your money, it's going to take time yes, but you can do it.

Thanks and good luck to you, and to all posters offering real positive advice and hope. Sadly it seems that a few still have to learn some respect and humanity towards other peoples situations. One day they may learn that money can be easy lost.

[Minecache]

Anyone else feel like one of the bitcoin losers? We hear a lot about all the winners, now including some 15 year old child, but very little on the currency's losers. I got swept up in the mania last November and dared to invest my life saving into purchasing 1 bitcoin, just as it was near peak. That turned out to be a terrible purchase for me as the value dropped since, so bitcoin has only ever lost me money. Anyone else in my boots? I'd still like more bitcoins but going on my past 6 months my confidence and trust in this new currency has been shattered.  

Yah, I think it wasn't too smart of you to drop your life savings on something as speculative as bitcoin, however, you already learned this lesson the hard way it seems.  I just hope that you are still holding the bitcoin because most likely it's going to rise again to what it was at when you bought it so you could sell at that moment and put your money in a savings account

Thank you.  Yeah the plan is to hold what few coins including alts for as long as possible.

[TopherB]

No, when it comes down to "Food on table" and "paying bills on time so I have electricity/water" bitcoin didn't exactly cross my mind at the time. I don't know why that's so difficult to understand.

So what is the plan? And I don't mean bitcoin related. How are going to increase your disposal income? Or are you content through inaction to perpetually scramble to feed yourself and pay your bills?

Do you have a plan? A plan to make a plan? Or do you have your excuses all lined up?

Yes, I'm in a pissy mood today. Doesn't change the truth at all.

Pissy or not, I don't think this is the appropriate tone to take with anyone at all. I've never once raised my voice to another person here or in real life, and I don't think anyone else should. Opinions are like you know what.

I have a plan, yes. I finally have pieces coming together, the larger part of the pie is making enough money on the side to get myself back on track. You don't have a single idea where I'm coming from, what I've been through and what I've had to sacrifice to have what little I have today. Saying "I'm pissy today" is just a cop out for being rude.

And no, no excuses. I never once made any excuses where I am today is through no fault of my own. If you have a problem with that, or that's not good enough for you then I really don't care.

I will apologize to the extent that I had confused you with an poster earlier in the post and so writing from the position of assuming the answers would be that he had no plan, no intention on making one and that 'the world' was responsible for his situation. The pissy comment was to say that I was not in a mood to sugar coat my words but the truth is what it is. I don't see honesty, even if it is harsh honesty to be rude, I see it to be constructive.

I am truly glad that you have a plan and even more so that it appears to be working.

"I never once made any excuses where I am today is through no fault of my own." however seems to be a mutually exclusive statement, unless that is not what you meant to write.

[lemfuture]

im a bitcoin loser but im okay.
i got a good advice from a legendary trader.. he said, "Dont manage your losers"

[madmat]

Weak hands will always lose money.

Those who understand what Bitcoin is are confident and will never sell their bitcoins before they get a good return.

[Minecache]

What's a good return? Or what are you expecting?

[bitebits]

Minecache, you are only a 'bitcoin loser' when you lost your bitcoins (or converted them into fiat again). Consider yourself really lucky, you managed to get one of the 21 million EVER in existence. You bought a share into the Bitcoin network Itself (that is huge!). Congrats!

[JohnFromWIT]

I keep bloody spending mine.
Anytime the price goes up I spend a good 3/4 of my chunk.
Never really regret it, but I'd be much richer now if I'd held.

[Nathonas]

One thing you have to keep in mind is that whenever 1 person "wins" (let's say in the context of investing into something here) , more people have to lose at the same time. Why? Because we can't ALL benefit from something - wealth is not infinite, it simply changes hands. In the context of Bitcoin, I bet you for every guy that became a millionaire (or made a thousands of dollars) from buying bitcoins, 5 guys (if not more) LOST money by buying in and out at the wrong time.

Second thing is that even if you bought in late into bitcoin, as long as you are patient and don't try to sell it (or daytrade it) , you WILL make profit no matter what. Bitcoin is getting stronger year by year, even though that may not currently be reflected by the price.

[gentlemand]

It's likely that many of the coins everyone holds now made a nice profit for the previous owners much earlier in the game. Ultimately they did lose out by not hanging on to them, but if you'd paid 1c for it and received $1 that's still pretty sweet. What people should be doing now is holding off being another rung on that ladder.

[Ron~Popeil]

It's likely that many of the coins everyone holds now made a nice profit for the previous owners much earlier in the game. Ultimately they did lose out by not hanging on to them, but if you'd paid 1c for it and received $1 that's still pretty sweet. What people should be doing now is holding off being another rung on that ladder.

Yep. I am buying, earning, and holding. In 3 years I will not be one of those people talking about what could have been.