My $11k bitcoin odyssey

[slaveforanunnak1]

I honestly get where you're coming from. There is always that slight sting of missing out on amazing chances; but all we can do, is move past it. It's not like we all have clairvoyance right? And if we did, these sort of chances would never happen.

I've also missed a whole bunch of chances in the past (both with bitcoins and with altcoins). Now I just bide my time and let things come as they may. After all, there are much more worse things that can be lost other than an opportunity.

This is why im not going to miss the ethereum bus! I will buy some ether.

[Syke]

I will not buy unless we go under 500.

Why not buy some now, and buy more if it goes under 500? There's a good chance we never drop below 500 again. When bitcoin hits 5000 you'll really wish you had bought at 620.

[Velkro]

You should keep focus on one thing and do it as best as you can. You didn't so there is losses

[Sniar]

Its not just you who miss the train a lot people have decide but dint do it and then regret

I have once have over 1k BTC when the price are $7-8

And i sold them at $30

I earned and do i regret ?

[halfawake]

Well, on the bright side, you could have done what I did.  I bought about 20 BTC a couple weeks ago when the price was $650.  The price has since gone down to about $617, I could have gotten them for about $1,000 cheaper.  Oh well, I'm still confident that it'll go up to above the price where I bought it in the long run.

[DannyHamilton]

Well, on the bright side, you could have done what I did.  I bought about 20 BTC a couple weeks ago when the price was $650.  The price has since gone down to about $617, I could have gotten them for about $1,000 cheaper.  Oh well, I'm still confident that it'll go up to above the price where I bought it in the long run.

Well, $660 is quite a bit less than $1000, but I get your point.

You could have gotten 21.07 BTC for the same price that you paid for the 20 BTC.

[halfawake]

Well, $660 is quite a bit less than $1000, but I get your point.

You could have gotten 21.07 BTC for the same price that you paid for the 20 BTC.

Somewhere along the thread I got the impression that the OP bought his BTC for $450.  Although I just checked bitcoincharts.com and it says the price was around $800 in February, so I think it was a bit more expensive than that.  Yes, you're right, it would have gotten me a little over an extra bitcoin had I waited.

[r0ach]

I have once have over 1k BTC when the price are $7-8

And i sold them at $30

I earned and do i regret ?

Yes, I regret that trade and I'm not even you.

[kokojie]

Through the 3 years of on and off mining, I have came to the conclusion, that whenever you are itching to buy some mining hardware, buy the coin instead. 99% of the time, buying the coin is better than buying hardware.

[dyland]

Well at least you have some savings there, more than a majority of guys that has >1 BTC i guess...

Now just don't badly waste it and hold as much as you can.

That's the plan indeed. PS you meant <1 BTC, right?

[dyland]

Think of the positive sides: You've hopefully got a decent life and people who care about you! Yeah, it's quite a lot of money but believe me, there are people who are far worse off than you!

Yeah, it's true, and that's priceless for sure.

However, it's not like I missed an opportunity, it's like I failed badly at it.

[dyland]

Your main problem with mining was buying scrypt asics. As far as I can tell, scrypt ASICs have always been extremely overpriced. I did the math a while back, and best case they would have hit ROI in about 9-12 months.

If you don't take the time to do the math on projected mining ROI, and follow difficulty like a hawk, you should not be mining unless it's just a hobby and you don't mind losing money.

I'll stick to BTC mining with a 3-4 month ROI if hardware purchases are well timed. If you had used that money to purchase Antminer S1s instead, you would be in a much better position right now.

I agree with this.  Mining has become like a small arms race...which is why I never got into it.   I never had the time to do the proper research and to learn what to do.   I think the problem is that there are all these success stories floating around the net on how people amassed a huge number of BTC (in the beginning stages), using their desktop computers...and made riches..   

I was definitely influenced by such stories...

[dyland]

There are still myriad ways to get into bitcoin and be successful. It starts with working hard. This is the same thing in bitcoin since I got into it in 2011. Its been a lot of hustle. I have made and lost a lot of bitcoins. It has been exhilirating and devastating. Such is life. I really enjoy it.

As for the ASICs, oh well. Was it greed or innovation?

I have been trying to find a way to fit into the ecosystem outside of just buying into it for a while. Met with Bitpay Sales Director, but they do not have any positions in my area.

[dyland]

I remember really early on seeing people start mining it when the difficulty was extremely low.
At that time I didnt have a second computer to mine on, so I would have to tie up my computer,
and at the time I didnt think it was worth doing. Here I am now smashing my head on the table going
"why(smash), why(smash). Haha Oh well, I have since figured out ways to get back in the game.
Good luck!

Thanks very much. It looks like 6.5 BTC is where I end up. I, like you, face-palm the fact it could have been 20+ BTC if I had been smarter about it.

[dyland]

Trust me friend most if not all of us have a similar bitcoin story.  Don't even try to trade altcoins it will drive you insane when you look at a coin, choose not to or simply forget to invest and off to the moon it goes.  Don't even get me started about taking your money out at the wrong time..

Think of it as a learning experience preparing your for the perfect moment when you make all the right decisions.  HODL

Thanks for that.

I don't know when the perfect moment is, but my odyssey has ended at 6.5 BTC

[dyland]

I honestly get where you're coming from. There is always that slight sting of missing out on amazing chances; but all we can do, is move past it. It's not like we all have clairvoyance right? And if we did, these sort of chances would never happen.

I've also missed a whole bunch of chances in the past (both with bitcoins and with altcoins). Now I just bide my time and let things come as they may. After all, there are much more worse things that can be lost other than an opportunity.

That's a great perspective. The thing that stings though is not much I missed the opportunity, but that I failed badly at the opportunity. It's like I got called to center court to throw the basketball at halftime and I decided to get a pump out and deflate it instead.

[dyland]

I honestly get where you're coming from. There is always that slight sting of missing out on amazing chances; but all we can do, is move past it. It's not like we all have clairvoyance right? And if we did, these sort of chances would never happen.

I've also missed a whole bunch of chances in the past (both with bitcoins and with altcoins). Now I just bide my time and let things come as they may. After all, there are much more worse things that can be lost other than an opportunity.

This is why im not going to miss the ethereum bus! I will buy some ether.

I got the t-shirt! I am wondering when it will be open to buy?

[dyland]

I will not buy unless we go under 500.

Why not buy some now, and buy more if it goes under 500? There's a good chance we never drop below 500 again. When bitcoin hits 5000 you'll really wish you had bought at 620.

I feel like I have invested far too much already to be honest. I want to spend money on stuff now. Honestly a great vacation with my family now is worth more to me than any financial gains in the future.

[dyland]

You should keep focus on one thing and do it as best as you can. You didn't so there is losses

A little vague, but I get your meaning, I think; I should have stuck to just buying or just mining?

[dyland]

Its not just you who miss the train a lot people have decide but dint do it and then regret

I have once have over 1k BTC when the price are $7-8

And i sold them at $30

I earned and do i regret ?

Well, you sold at a good profit. You are on the plus side regardless, whereas I have ground to make up.