Bitcoin Losers

[cuntcoin]

We are still one of the few early adopters, we can still be winners as long as we learn to hold properly for another couple of years. Don't make the mistake to risk your btc.

Yes, agreed. we are the still at the beginning of a new world with crypto-currency, will be a great and profitable journey for us all.

[madmadmax]

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.

[natecv8]

OK... So your life savings last NOV 2013 you put in what $800 that is your life saving? did you save what $0.50 per week for 20 years...  sorry but you sound like a mass troll... or some real poor dude that could do better if he begged for some money..

you know there are people that have lost lot half a btc bot 100 or 1000 btc ... and you dont see them cry in forums...

Yes, life savings. Business went bankrupt during recession. Not everyone is born with a silverspoon stuck up their backside.

If you were wealthy enough to EVER own a business (be a slave-owner) you were doing far better than most Americans. Your story doesn't add up. I suspect you are a liar.

I can't believe this - are you for real? This is the real world. I've owned a business and lost 300K and that money is gone. Someone with a narrow frame of reference like yours would either consider this to be bullshit or me to be a failure, but you've probably never had 10 staff on your books, high rent and high outgoings, and had to weather a downturn. All your money goes bye bye and you don't get a handout to save you. And you get the indignity of sitting there afterwards doing all the accounting and dealing with audits even though you're broke.

For someone who has been through that, climbing back into having money is a big thing, and losing it again is tough. Have some respect for others.

[Scott J]

I had ~150 BTC stolen just prior to the bubble before last.

I've had some very good luck since so it doesn't bother me and will be a good story to tell when BTC is @ $100,000 

[jonald_fyookball]

OK... So your life savings last NOV 2013 you put in what $800 that is your life saving? did you save what $0.50 per week for 20 years...  sorry but you sound like a mass troll... or some real poor dude that could do better if he begged for some money..

you know there are people that have lost lot half a btc bot 100 or 1000 btc ... and you dont see them cry in forums...

Yes, life savings. Business went bankrupt during recession. Not everyone is born with a silverspoon stuck up their backside.

If you were wealthy enough to EVER  own a business (be a slave-owner) you were doing far better than most Americans. Your story doesn't add up. I suspect you are a liar.

I can't believe this - are you for real? This is the real world. I've owned a business and lost 300K and that money is gone. Someone with a narrow frame of reference like yours would either consider this to be bullshit or me to be a failure, but you've probably never had 10 staff on your books, high rent and high outgoings, and had to weather a downturn. All your money goes bye bye and you don't get a handout to save you. And you get the indignity of sitting there afterwards doing all the accounting and dealing with audits even though you're broke.

For someone who has been through that, climbing back into having money is a big thing, and losing it again is tough. Have some respect for others.

didnt you get the memo... creating values that others would voluntarily exchange their money for is BAD....  expecting profits as a reward for hard work is also BAD...
and creating so much value that you can actually offer jobs to people and provide them with a livelihood is the worst sin of all.

 

[DolanDuck]

If we just hold, with the exponential growth of bitcoins year after year, we will be winners in the long term.

[ljudotina]

Yes, IF bitcoin succeeds even those with small amount will be more or less rich. That's why i'm kinda sceptical...will current power allow that to happen? Will they switch to BTC so it wont matter, or will they do something more sinister.

[Scott J]

Yes, IF bitcoin succeeds even those with small amount will be more or less rich. That's why i'm kinda sceptical...will current power allow that to happen? Will they switch to BTC so it wont matter, or will they do something more sinister.

The people in power won't mind people getting rich from Bitcoin, as long as they pay their taxes.

[BittBurger]

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.  

LOL .... at your short-sighted-ness.  Smh.

[ljudotina]

Yes, IF bitcoin succeeds even those with small amount will be more or less rich. That's why i'm kinda sceptical...will current power allow that to happen? Will they switch to BTC so it wont matter, or will they do something more sinister.

The people in power won't mind people getting rich from Bitcoin, as long as they pay their taxes.

That would be true, if those same ppl were "in power" and "rich" from tax money. They are rich because they are stealing our assets and value with endless printing of money. And BTC is on it's way to stop that....i'm pretty much sure they wont like it.

[Cryptopher]

Of course there will be lots of Bitcoin losers out there, somebody has to balance things out. Shorting is always a good idea when it starts to tank, but of course that in itself is a risky game.

You just need to hold and wait for brighter days - they will come.

[jonald_fyookball]

Yes, IF bitcoin succeeds even those with small amount will be more or less rich. That's why i'm kinda sceptical...will current power allow that to happen? Will they switch to BTC so it wont matter, or will they do something more sinister.

The people in power won't mind people getting rich from Bitcoin, as long as they pay their taxes.

That would be true, if those same ppl were "in power" and "rich" from tax money. They are rich because they are stealing our assets and value with endless printing of money. And BTC is on it's way to stop that....i'm pretty much sure they wont like it.

the very top of the power pyramid (elite banksters) control everyone else because they control the money.
so they wont like it...

but the politicians that make the laws will want to get out of the grip of banksters too....
so i think crypto is the inevitable future.

[gentlemand]

People should be looking at it over a 3-5 year time scale. Being underwater comes with the territory. If it was that much of a dead cert each coin would be worth $1 trillion right now.

[bigasic]

When you say "loser" that can mean different things. I technically am a "loser" in bitcoin. Do you know how many coin I purchased and sold when it was between 2 and 8 dollars? If I had held on to all of them, i would be a millionaire many times over. I still did very well for myself, but not as well as it should have been.. But, luckily I stopped selling a little over a year ago and am thankful that I did.. I will only sell coins if I absolutely have to. Like, right before I go homeless.

[kgo]

You lost enough to buy an Xbox One and a few games.  Hardly life changing.  And if you had picked a safer investment, say the S&P 500, you'd have a 3-4% return by now.  Another $50-60 bucks.  Hardly life changing either.  Total amount isn't enough to hold you over long if you lose your job or have a medical emergency in either case.

He said that he lost his life savings...

I doubt he would have bought a new xbox one considering all his savings were around 1000 or 1200 $.

In some parts of the world 1000$ is like 4-5 monthly wages if not more while for western European or american with a good job is almost play money.

Okay, assuming he lives in one of those places, now he has 2-2.5 months of wages instead of 4.1-5.1 he would have gotten with a safer investment.  I still don't think the outcome either way is life changing enough to stress out.  Other four paragraphs of advice still apply.

[beetcoin]

there are plenty of loser stories.. dafar says he spent $16k on bitcoins and now he has 12 of them to show for it.

on reddit, one kid inherited 700k and lost more than half of that from buying high and selling low.

tons of people are getting scammed of their coins as well.

[TopherB]

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.

The "I have a family to feed"-"argument" doesn't change anything. You obviously just wanted quick money without working for it.
You gambled on a horse race. Your horse had a bad start. Now, you cry about the money you lost, even though the race is far from over.

Again, nowhere have I said that I wanted quick money for anything nor pleaded that I have a family to feed as those expenses are covered with my day job. I repeat I invested for my families FUTURE not be some sort of spiv and I'm interested in hearing from people in a similar situation to myself. Not people like you who are trying to put words in my mouth.

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.

[beetcoin]

from most of the stories i hear about people losing a lot of money with bitcoin, it can usually be singled out to buying after a large run-up, and it never makes sense for me. you're late to the party, so you try to overcompensate by buying bitcoin at an ATH.. only to find out that it's heading down. i sure as hell wouldn't have bought bitcoin when it was $1100.. after jumping from $110 within a 6 week window.

[skottiejay]

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.

[TopherB]

from most of the stories i hear about people losing a lot of money with bitcoin, it can usually be singled out to buying after a large run-up, and it never makes sense for me. you're late to the party, so you try to overcompensate by buying bitcoin at an ATH.. only to find out that it's heading down. i sure as hell wouldn't have bought bitcoin when it was $1100.. after jumping from $110 within a 6 week window.

That's true of buying into any investment. If you don't put the work into making estimates or at least guesstimates of an investments true value and potential then you deserve whatever happens to your money.

At the time of Gox my best guess was that the floor was around $125. I was prepared to buy more at each $100 mark and really press under $200. I missed a few marks as the price fell fast. And it never reached even close to my floor. I tend to be conservative as I like my money and I'm not greedy. I never cry about opportunity missed and try obsessively to understand what I missed when I make a misstep.

Patience, hard work and due diligence. And avoid blaming outside forces. The keys to success in anything.