Pain realizing early stupidity

[neptop]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

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[riX]

I bought a 200 USD paysafecard from bitcoin2cc for 662.5 Bitcoins, currently the worst trade I've made with BTC.

[neptop]

Yaeah, also paysafecard here. Just a 20USD one for a few thousand BCs.

What did I learn from that? Never trust in what you learned in school.

[Distribution]

I'm extremely mad that the guy I was dealing with about two months ago has been so slow in getting me my computer which was going to be a dedicated mining rig. I'm out a huge amount just for that.

[rebuilder]

I've spent something like 600 BTC, probably more, on various things since early this year. Most of them before USD parity. No regrets, I knew the exchange rate might go up. Now, as then, if I want to buy things with BTC, I'll buy the relevant amount at spot price and leave my hoard alone.

[Alex Beckenham]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

If you had 10,000 BTC now, would you actually sell them for 70,000 USD? Or would you wait another year and sell them for $1m?

[happyland]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

I mined around 14,000 coins a year ago when difficulty was 3. Yes, 3.
I was ecstatic that I had made $70 for doing nothing, but I kind of forgot about bitcoins until a month ago, when I noticed it hit parity, a 20000% ROI.
Although I sold a few off around $5.00/BTC a few weeks ago, I've still held on to the vast majority for when it'll (hopefully) serve as my retirement fund

[FreeMoney]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

I mined around 14,000 coins a year ago when difficulty was 3. Yes, 3.
I was ecstatic that I had made $70 for doing nothing, but I kind of forgot about bitcoins until a month ago, when I noticed it hit parity, a 20000% ROI.
Although I sold a few off around $5.00/BTC a few weeks ago, I've still held on to the vast majority for when it'll (hopefully) serve as my retirement fund

Sick score dude, congrats.

I bought a little tiny piece of gold for what would now be over $10k USD. I think I drank some $1k coffee too. It was pretty good though.

[tomcollins]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

If you had 10,000 BTC now, would you actually sell them for 70,000 USD? Or would you wait another year and sell them for $1m?

Or wait 5 years and sell them for $1 TRILLION.

[Current-C]

I'm one of those guys that downloaded the client I think about 6 months ago, clicked "generate coins" and got frustrated when nothing happened.  I uninstalled it cause it was dragging down my cpu.   

[byronbb]

I'm one of those guys that downloaded the client I think about 6 months ago, clicked "generate coins" and got frustrated when nothing happened.  I uninstalled it cause it was dragging down my cpu.   

Me too. 

[Gavin Andresen]

Just think of that guy who gave away 10,000 bitcoins through the Bitcoin Faucet...

[hazek]

I just hope people realize that if say 30k BTC hit the market right now the price would crash to probably under parity.

[bencoder]

Sold 1,000 bitcoins for about $45, after a sudden increase of 10x from about 0.004. I felt sure that it was going to crash after an increase of 10x in such a short period, so I sold.   The next day, I think, was the first slashdotting. Oops.

[Hal]

Sent 1000 btc to a friend as a test transaction the first month. Luckily he sent it back. 

[proudhon]

I bought some at $7.77. 

[The Script]

Just think of that guy who gave away 10,000 bitcoins through the Bitcoin Faucet...

The fool....     

[Dansker]

The guy who gave away 10.000 to the faucet may have made his remaining coins worth comparably more, due to the increase in useage of the coins.

[Vandroiy]

The guy who gave away 10.000 to the faucet may have made his remaining coins worth comparably more, due to the increase in useage of the coins.

That.

Had people just hoarded BTC when they were still a game currency, it wouldn't have gone anywhere. Yes, I think the prices were just too low, but there was a very good change BTC would just die again until the real activity boom happened.

So I don't think trading in BTC instead of totally hoarding them was stupid. People were just doing something else than speculating.

[SmokeTooMuch]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

If all of us had kept their coins there wouldn't be a market like it is today, so look at your "stupidity" as an investment into the system.

[eturnerx]

I'm extremely mad that the guy I was dealing with about two months ago has been so slow in getting me my computer which was going to be a dedicated mining rig. I'm out a huge amount just for that.

I put time limit for delivery as part of the terms of my sale contracts. If they breach them, then I cancel the contract. TBH I paid a tiny bit extra for a 6990 just because the business I was dealing with actually had it in stock. Nothing back-ordered.

[nickwit]

Yea, well... I'm sure we're all elderly enough now to have experienced at least two mega-tulip-scale bubbles in our lifetimes.

Bubbles can be ridden - we know that... but do take care to diversify... and always buy art because you like the art, not because you think you're going to get something for nothing.

[Slimquick]

I could've invested at one dollar but did not. Sigh.

[bitcool]

If all of us had kept their coins there wouldn't be a market like it is today, so look at your "stupidity" as an investment into the system.

This hoarding vs circulating (i.e. spending) dynamics is very interesting.

If the world is to return to gold standard, I think it would be a similar process -- the only difference is, gold has the luxury of being recognized as money in many cultures, no need to get publicity through circulation there.

[neptop]

If all of us had kept their coins there wouldn't be a market like it is today, so look at your "stupidity" as an investment into the system.

Well, still would have been great if someone else did it.

Yes, I'd cash out my 12k BTC now, because I'd know what I'd want to buy. No, it's not a mining rig.
I'd also quit mining, but still advertise and use Bitcoin, as I really love it.

[niemivh]

If nothing was ever spent or sold, just hoarded then they wouldn't be where they are today.

So in a sense that was your destiny to give them away cheap.

Just glad it wasn't my destiny. 

 

[eturnerx]

I'm about to hit my first hoarding goal - past that I start to cash bitcoins for fiat to start paying for IRL things. Why have money if you're never going to spend it. I have a few IRL spending things to get then I have a stage two hoarding goal, then more IRL spending.... gotta balance the present desires vs an uncertain future.

[silverback]

Don't beat yourself up, OP. Life is too short. At the time you spent your bitcoins it was a good deal. Back then any of us could have bought thousands of bitcoins. But not many of us did. If you are lucky btc could keep increasing in value and you could still come out in front.

Remember, it could be worse. There was a thread yesterday about how many bitcoins have been lost. When I first started reading I thought it would be quite light hearted. But there were stories of ordinary dudes who lost fortunes by making slight errors. Instead of coming away as lottery winners, they ended up empty handed. Damn that must suck. I came away feeling pretty bad for them.

[tonto]

I'm one of those guys that downloaded the client I think about 6 months ago, clicked "generate coins" and got frustrated when nothing happened.  I uninstalled it cause it was dragging down my cpu.   

Me too. 

I very nearly did that exact same thing (uninstall), but I happened to catch something about GPU mining and  remembered that I had bought an HD 5770 two months ago for a little present to myself for some gaming.  So now I'm sitting on 14 coins
 
I'm rich!  haha, j/k.  I actually put in a trade today for 11 coins for some cash for myself and to buy another 5770 to double (hopefully) my mining production.   I did buy like 5 of them a couple weeks ago when I first learned about trading, and have doubled my investment, so anything further I'll consider "play money".  If I can get enough coins I may trade in for some 6990s in a few months

[Ucy]

Wow these are 2011 posts.. . those days buying 100btc wasn't a big deal.
I saw Gavin Andresen comment too

[BitcoinHodler]

Wow these are 2011 posts.. . those days buying 100btc wasn't a big deal.
I saw Gavin Andresen comment too

i think Gavin was talking about himself
he was running a bitcoin faucet that was giving away something like 3 bitcoins per claim....

[Xester]

This post is too old.     Anyways, yes it is really such and indeed a stupid decision for you to sell your bitcoins for that amount.  Well, during those time you would admit that you feel happier and a little bit richer with the money you gain by selling your bitcoins.  During those days, bitcoin is not that high in value and that is why you resorted to sell them for that price.  If anyone would think that bitcoin will be such a huge success, no one will sell them but no one think about it.  So for sure, many were just like you who sold their bitcoins for that low amount.

[stompix]

This post is too old.     Anyways, yes it is really such and indeed a stupid decision for you to sell your bitcoins for that amount.  Well, during those time you would admit that you feel happier and a little bit richer with the money you gain by selling your bitcoins.  During those days, bitcoin is not that high in value and that is why you resorted to sell them for that price.  If anyone would think that bitcoin will be such a huge success, no one will sell them but no one think about it.  So for sure, many were just like you who sold their bitcoins for that low amount.

Yeah those guys were pretty stupid....NOT!.

I love how noobs come here and talk all high and mighty how everybody should just have hold their coins.
And what would have happened? Nobody would have used it , no shops would have accepted there would be no trading, just holding.
0 value coins.

Don't compare yourself to them, your entire vision of bitcoin is so limited it makes me puke.

[crazyivan]

Well, I guess all these people who sold BTC during these panic which took place last few days will know how that feels so in a year time.

I guess every education costs money. Sorry for your loss bud.

[coolsai]

Always interesting when people revive long dead posts...

[Vixmore]

 I remember I sold around 0.8 BTC worth last year for a really low price. I think it was around 400 USD. I sincerely regret my decision and only wish I could somehow get it back. But hey, that is the past, some things cannot and will never be changed. However, many people are needed to keep the trading market going, so I guess I made some sort of contributiion  . Whether that was bad for me or not....

[vapourminer]

i remember selling around 100 btc when the price hit $30 (whoohoo! $30!!) paid for a vacation. did the same at around $300, bought lots of toys.

ah well it was fun at the time

[mindrust]

Wow so much history happened here.

In 2011, people couldn't believe that it would hit 2000k$/piece in one day; just like we can't imagine that it can reach 500k$ in the future now. (we actually can :p)

People sold their coins to buy coffees, pizzas and other crap. All lost the possibility of being a millionaire.

Long story short; You need to HODL till you make your dreams real. Otherwise It's not worth dumping. Doesn't make a bit of sense.

Why would you dump if you won't be living your dream life? Why sell your coins for a 100$ profit? or 1k$? Make it at least 500k$ and then we talk about dumping.

Those people made the same mistake and suffered for that decision. Be smart.

[allthingsluxury]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

I've been here a long time, you aren't alone, I would say you're in the majority, not the minority.

[Mahanton]

How this 8 year old thread have been bumped by the word "lol"? (Try to check older post of someone who did it) But well its really a good thing to read those speculation on this timeframe which those early adopters still talking about this stuff on potential increase of bitcoin in the future which it did actually happen as of now and I dont know if those people who are talking here do still hold off their coins or did already sold in a cheaper price.

[jzale]

The same anticipation with the recent panic of selling bitcoins in the middle of this month. Now you can see the recent climb of bitcoin again. Sad for those who panic sell bulk of bitcoins when the price is currently rising now. I was faithful enough to wait for this moment and will wait more until bitcoins reaches $2900 and up.

[vapourminer]

Wow so much history happened here.

In 2011, people couldn't believe that it would hit 2000k$/piece in one day; just like we can't imagine that it can reach 500k$ in the future now. (we actually can :p)

People sold their coins to buy coffees, pizzas and other crap. All lost the possibility of being a millionaire.

Long story short; You need to HODL till you make your dreams real. Otherwise It's not worth dumping. Doesn't make a bit of sense.

Why would you dump if you won't be living your dream life? Why sell your coins for a 100$ profit? or 1k$? Make it at least 500k$ and then we talk about dumping.

Those people made the same mistake and suffered for that decision. Be smart.

not sure if you were around 2011 or so but btc was very experimental (i did it for the geek/tech fun) so when it turned out you could actually buy stuff with the suddenly vastly increased value (cents to many dollars per coin) it was hard not to celebrate and do something "real world" like buy stuff. back then there was mtgox and dwolla to get btc to fiat. still new stuff at the time. after all if no one spent btc and proved it had real world value it would of most likely died. and there was no real reassurance it would last.

the stuff i bought for my wife and myself were a demonstration that the tech chain worked. that in itself was valuable. it wasnt till later when its worth and longevity were proven that i started to consider it a long term investment.

now i still buy things with btc to help with its adoption (overstock, steam) but generally replace what i sold.

HODL is the name of the game now. hoping it will help with retirement, which is edging close for the wife and i.

course if i had kept all i mined/bought and cashed out now we would be on our own private island right now. but regardless it was and is a fun ride. learned a lot and its hard to place a monetary value on that.

oh yeah played with lots killer hardware which i would not of otherwise done. bought with profits of course

[TheGodson]

I think it is really cool to see how people were talking about Bitcoin in the past. Who knows what the future holds for us. Perhaps Bitcoin will collapse. Perhaps it will be the next new thing. Only time will tell. I'm happy to have hopped on board thus far.

On a side note, apparently a mod didn't like my joke and deleted my post. I really don't understand why. Some people just don't have a sense of humor I guess.  

I mean, it is not like a big deal or anything, but still rubs me the wrong way. I just think it is pathetic to have someone policing what I say when it isn't in any way destructive. After the person started evaluating bitcoin being at the lofty number $1 trillion. I stated waiting 20 years and being at 8$ Quintillion... Okay so the joke wasn't that funny, but whatever. Is it really worth deleting?

@mindrust: I'm optimistic too, but 500k per bitcoin would be a total evaluation of 10.5 trillion dollars. That is equivalent to the amount of dollar currently in circulation... cool. Sounds to good to be true though. I hope I'm wrong and that you are right.

[fathur.aza]

Indeed ignorance will be the beginning of their awareness to be a very clever one, and it takes several months to get rid of that stupidity

[Xester]

Ouch, it really hurts when you realize you sold Bitcoins that would be worth more 70 000USD now for 20 USD a year ago.

Anyone else here who know how it feels?
Or anyone here happy to have done so?

I do feel the same way but yours is worst than me. I have sold my btc when it was just around 1000$ in value then months later the price of bitcoin went up to 2000 us dollars and up. To my dismay I should have a double profit if I sold my bitcoin not too early. But there is no time to  mourn so I began my online jobs and signature campaign to earn bitcoins online and this time I will be holding it until the price will be x 10 its current value.