My absolute biggest mistake in my entire life. Learn from my mistake, please.

[mistercoin]

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.



Please learn from my mistake. Hold onto IPO's this big for as long as possible. If you can, just buy it, get it in your wallet, and forget about it for a month or 2...

*Sigh*

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[Yeezus]

This is how I feel about bitcoin. I just don't want to spend any at all because I see the potential in it and the price today could be peanuts in comparison.

[mistercoin]

This is how I feel about bitcoin. I just don't want to spend any at all because I see the potential in it and the price today could be peanuts in comparison.

Well my friend. I have learned my lesson and will be making damned sure this never ahppens again, and if I can prevent it, happens to anyone I talk to. Not a day passes that I don't think about this.. I could have had over 100K, could have paid all my debt, and invested that to potentially become a millionaire. But now, I barely have 0.02BTC... Fucksakes.

[Q7]

How about those who invested a lot of money in some altcoins and ended up losing 90pct of everything. I can easily name you 3 altcoins but i would rather not.

The thing is that this is part of what we should accept in investment. If you are certain for sure 100pct, then i don't think that is what u call investment. I had my share of missed opportunity based on wrong decision because i was not willing to take the risk and if i had, i would have lived a more comfortable life and retire early. But then, the question is 'would i have known'?

If that makes u feel better

[mistercoin]

How about those who invested a lot of money in some altcoins and ended up losing 90pct of everything. I can easily name you 3 altcoins but i would rather not.

The thing is that this is part of what we should accept in investment. If you are certain for sure 100pct, then i don't think that is what u call investment. I had my share of missed opportunity based on wrong decision because i was not willing to take the risk and if i had, i would have lived a more comfortable life and retire early. But then, the question is 'would i have known'?

If that makes u feel better

Meh not really. The fact  that I got greedy and sold for, even though small in comparison, a big profit, really makes me loathe myself for being naturally impulsive. I was though, at the time, unaware that IPO's could almost always yield nice profits, as that was my first ever IPO, so I thought "Hell, I spent 50$, and make 2,500, so that is all good"> Never dawned on me that the day after NXT came out the price would be 2000% lower than if I had waited a month...

[RocketSingh]

How about those who invested a lot of money in some altcoins and ended up losing 90pct of everything. I can easily name you 3 altcoins but i would rather not.

The thing is that this is part of what we should accept in investment. If you are certain for sure 100pct, then i don't think that is what u call investment. I had my share of missed opportunity based on wrong decision because i was not willing to take the risk and if i had, i would have lived a more comfortable life and retire early. But then, the question is 'would i have known'?

If that makes u feel better

Meh not really. The fact  that I got greedy and sold for, even though small in comparison, a big profit, really makes me loathe myself for being naturally impulsive. I was though, at the time, unaware that IPO's could almost always yield nice profits, as that was my first ever IPO, so I thought "Hell, I spent 50$, and make 2,500, so that is all good"> Never dawned on me that the day after NXT came out the price would be 2000% lower than if I had waited a month...

AFAIK NXT has made multiple millionaires. I dint know about NXT. Right now, I'm holding my Stellar that I got for free from FB accounts.

[jabo38]

Wow, that must have been tough to think about.  Thank you for sharing and giving good advice.  

I think the days of huge turn arounds in 1-2 months are over, but that there will still be very big payouts for people that are holding IPO's and hold for 1-2 years.  That is my philosophy.  It is hard right now just watching the prices slide or do nothing, buuuuuuuuut I think during the next Bitcoin boom there will be a lot of interest in these IPO's. Some will make it, and some will die, and that is why I am watching them closely and trying to invest a little here and there in what I think is the most promising.  

For me of course NXT still looks good.  After that it is clearly NEM.  

I really see NEM doing some exciting things in ways that haven't ever been tried before.  I think the official launch is coming out in a few weeks, but the alpha is already better than most other coins that have been out quite a long time.  They have already open sourced the community client too.  Who does that?  No coin that I know of has shown some of its code before the launch even.  Most of these start-up coins hide and hide their code.  Third party paper wallets, third party client and other third party apps pre-Genesis!  I could go on and on with other exciting developments.

I will be excited to look at Ethereum and Emunie "IF IF IF" they ever launch.  Both are doing some pretty interesting things and taking cyrpto and/or blockchains in a cool direction.

Ripple, Stellar, Node, Crypti, and eXo are on my radar but so far it have been underwhelming.  

Lastly, I think some good IPO's aren't just about coins anymore.  Things like Maidsafe and Storj sound very interesting (uncensored news in China anyone?)  Other things at NXT like Supernet and Jinn have also caught my attention, and while they aren't necessarily coin IPOs they are related to crypto.  

So yeah, I think some of these things mentioned will die, but if even one of them makes that $50 into $100,000 that happened to you, and even if it takes a couple years instead of a couple of months, it will surely be worth it.  

+1 for the long term hold

[Beliathon]

As of this moment it would've only been 60 grand. It's really not enough capital to start a viable business. It's nothing, when you consider I (and many others) knew of Bitcoin in late 2009 and didn't mine. I was extremely skeptical at the time of the nearly-worthless nerd money.

I could be rich and retired by now! Ah well, hindsight is always 20/20. You can't kick yourself for not knowing, just realize you're lucky to be in the 0.1% of the population that has any Bitcoin at all this early in the game.

[TrailingComet]

Shit happens. Get over it, move on. Do it now. I am not unsympathetic but if you keep dwelling on this,you are virtually certain to miss the next opportunity. I have prior here

[odolvlobo]

That will not be your biggest mistake. You will make much bigger mistakes in the future.

Get over it. You could have easily written that your biggest mistake was buying into some other alt coin IPO.

There is nothing to learn here except that you cannot predict the future.

[Shad3dOne]

Hind sight is always so clear...

[Melbustus]

...
Please learn from my mistake. Hold onto IPO's this big for as long as possible. If you can, just buy it, get it in your wallet, and forget about it for a month or 2...

*Sigh*

You chose to not take a gamble. This is like saying you were going to, but didn't, buy a lottery ticket with a specific number that then happened to win, calling your decision NOT to buy an irrational mistake, and then concluding that in the future you should go out and buy every lottery ticket. Great way to lose lots of money.

The mistake is this sort of thinking. If you were to buy every alt-coin/platform at launch, you'd lose *a lot* of money in the end. The only way to reliably make outsized returns investing is to really know more or have better analysis than the rest of the market. Of course, everyone thinks that they do. Most do not. It's hard.

[Este Nuno]

NXT sounded too good to be true. So when you saw that it was real and actually existed you shouldn't have sold(of course you know this now and this is the point of the thread).

But most IPOs turn out to be shit. I think people should be more likely to sell them as soon as they can rather to hold them. NXT was a special case as it was touting itself to be a game changer. Most IPOs are not ambitious as NXT was.

Look at the IPOs that we've seen recently - Craigscoin? Craigslist on the blockchain? Who gives a shit. Archcoin? "The Profit Network"? No comment.

If a project is really attempting to build a next generation crypto like NXT was, then yeah, you should probably hold it. Especially hold it if you see that the project is not just vaporware.

The last IPO I can remember that actually seems to be doing good things is VIA with their counterparty alternative. And the fact that they have Peter Todd coming out with his research like he did recently benefits everyone. Was very happy to read that when I saw it. I've never bought any IPO though including VIA, and I don't own any VIA but I'm happy that good things are coming out of their project.

Storj is another one actually. And Ethereum. So yeah, I guess there are a few. As long as people can tell the difference between a Storj and another one of Bittrex's flavours of the week, then putting some money down on good projects could be a good thing. Personally I don't think it's hard to tell when a project is shit, but obviously that's not the case when hundreds, or even thousands of BTC get funneled in to all these Bittrex IPOs.

If another IPO comes out promising things like NXT did on that sort of wildly ambitious scale, I might consider buying a little bit  if the people behind the project seem sincere. But if you're the type of person who can't tell the different between a NXT type of IPO and the next money grab, then just don't bother and save your money is my advise.

[hayek]

Just to post a reply about the dangers of holding...

Some companies only do well on their IPO. Effectively your advice relies on the IPO being priced under value.

Anyone who remembers when ASICM was 4.5 Bitcoin would be able to tell you about the danger of holding simply to hold.

[chopstick]

This is how I feel about bitcoin. I just don't want to spend any at all because I see the potential in it and the price today could be peanuts in comparison.

Well my friend. I have learned my lesson and will be making damned sure this never ahppens again, and if I can prevent it, happens to anyone I talk to. Not a day passes that I don't think about this.. I could have had over 100K, could have paid all my debt, and invested that to potentially become a millionaire. But now, I barely have 0.02BTC... Fucksakes.

bro, I sold a bunch of btc @ 80 bucks. I also lost a bunch of coins on gox.

Although I did have bills and debt at the time to pay off.. so it is somewhat justified.

My point is, this kind of thing happens to everyone. I coulda made like half a million dollars, or more off bitcoin if I would have known what I was doing.

There is no option but to move on. You have to let go of the pain and the "what ifs".

Look at it this way. There will be more opportunities to score big. I personally believe that Bitcoin is going to go through another 100-200x price rise in the future.

All you can do is move on and try to stock up on as much BTC as humanly possible before the next big wave.  

[LiteCoinGuy]

most people will do this again (sell) when we hit 1k or 2k or 3k. thats the way it is.

[cassius69]

this is nothing to beat yourself up over. you made a nice profit and sold. thats almost always the smart thing to do.

[Nullu]

Foresight is a wonderful thing, it could have just as easily plummeted in value.

You played the game, and you lost. Better luck next time.

[bluemeanie1]

just a note, I'm currently working to out the NXT SCAM.

these people have been harassing me and threatening me non stop for weeks.

[ifightformerkel]

you would have 170 btc now, when you would sell your NXT in the "high time" (in mid january or june) you would have about 600 BTC now! = 216.000 Dollar