The life of a late adopter

[thresher]

Before you read this feel free to look at my trust and realize, there were several times where I could have taken people's money who did not use escrow and did not.
Also when you check my join date I did not use this account originally, nor did I join as soon as I started with bitcoin.

I purchased my first 5 btc during the China fud dump and sold them a week later for a little over $500 profit (obviously if I would have held them longer I'd have made more money, but $500 to me back then was a lot of money as I did not have a real job.
Then I started building scrypt rigs and compounding all my btc thinking wow this great, I am making so much money from dogecoin.
Then another China fud dump happened, I bought 5 btc at $800, it rebounded but only to $820 and I did not sell thinking hey, btc was $1000 before this, has to go back.
To speed this up, then gox crash, bought more btc thinking it would rebound, then alt coin crash, more btc crashes, more china fud, each time buying more btc thinking hey we will rebound.
Somewhere in that time frame I purchased ant miners to go along with my gpu rigs and while they mined the btc they produced and then I sold them and kept that btc as well, the btc has not been worth the same again.
Then came the darkcoin pump and dump, originally I thought it saved me as it increased my stash, but again, I held thinking of a better tomorrow for btc.

Finally I started a boring ass career, but one that makes a pretty large amount of money (not to brag) and I was like, ehh fuck btc I don't have time for this.  I would check in and see it go down, each time buying one here, three there, and telling myself, this is awesome btc will make me profits and I will be able to hide my money there from banks and the tax man (yes, I am paranoid and greedy.)

Recently I have been agitated as hell that btc has never come close to showing signs of return to a respectable value, so I figured wtf I'll try trading, and while in the past two weeks I am doing well overall in my trading, It would take me months of this to recoup my losses, and I cannot watch charts and shit all fucking day. 

So now like every late adopter who didn't sell, and contiued to fall for the "btc to the moon," "btc cannot go lower,"  "wallstreet and big money,"(you know something btc core is supposed to be against) I am here with an embarrassing stash of btc, and yet I cannot bring myself to dump them because like any abusive relationship, btc and all the other delusional bitcoin holders just keep beating me up and promising me more.

So if you have not reached this stage yet of realization, stop buying and get out while you can. or you will suffer the same fate.  Early adopters don't care abotu price, they took profit and all there btc now is just icing on the cake, manipulators don't care as they are making tons of money, it is the average douchebag late adopter like me that has born the consequences of bitcoin.

 

[HarmonLi]

That being said, you may only be a late adopter compared to people who invested in 2010. Take a look at 2011 and 2012... I bet a lot of people were really mad for not investing back then. Thing is: It was impossible to forecast that Bitcoin would go up that much in 2013. I agree, it's thin line between delusion and perseverance, but sometimes the latter pays off!

[LiteCoinGuy]

you should invest your time to read & learn more about BTC , network effects, history of money.
iam pretty sure you would change your mind.


[you are not a late adopter]

[Whitehouse]

Recently I have been agitated as hell that btc has never come close to showing signs of return to a respectable value, so I figured wtf I'll try trading, and while in the past two weeks I am doing well overall in my trading, It would take me months of this to recoup my losses, and I cannot watch charts and shit all fucking day. 

Do you even need to 'watch charts' to be a trader. All they do is buy low sell high so just put your coins on an exchange and put some sell/buy orders in and let the bots to the trading for you. You can make a little money on the side and it doesn't need to be a full time career.

[Possum577]

I think your first mistake is assuming that a "respectable value" is whatever price you paid for them.

Your second mistake is to assume that just because the price is falling that BTC no longer has the same fundamental value it provided as a currency, store of value, and exchange system as it did when it was $800 per coin.

My advice is 1) ask yourself if Bitcoin has lost it's fundamental purpose (and value of that purpose) since you first got in? If you say yes, sell. If you say no, ask yourself what other productive use you have for the money - can you invest it somewhere else and get better safety and better return? If you say yes, sell. If you say no, dollar (err bitcoin) cost average and buy more at 25% what you paid at the top.

It's that simple. What's the fundamental value of the thing you're buying. And is there a better use for your money?

Good luck!

[thresher]

I think your first mistake is assuming that a "respectable value" is whatever price you paid for them.

Your second mistake is to assume that just because the price is falling that BTC no longer has the same fundamental value it provided as a currency, store of value, and exchange system as it did when it was $800 per coin.

My advice is 1) ask yourself if Bitcoin has lost it's fundamental purpose (and value of that purpose) since you first got in? If you say yes, sell. If you say no, ask yourself what other productive use you have for the money - can you invest it somewhere else and get better safety and better return? If you say yes, sell. If you say no, dollar (err bitcoin) cost average and buy more at 25% what you paid at the top.

It's that simple. What's the fundamental value of the thing you're buying. And is there a better use for your money?

Good luck!

It does not have the same fundamental value as a store of curreny as when it was $800 a coin.  The money I put into bitcoin at $800 is now worth $200 a btc, the same $800 I put in a safety deposit box is, guess what still $800 despite all the magical inflation, the worst performing stock I have ever chose has never even come close to losing 75 percent of its value.  Hell if I used half the money I put into btc as toilet paper, i'd be ahead and up however much money I spend a year on toilet paper.

Anyways I have decided to put myself and everyone else out of my misery and am going to go back to the time tested failure of holding coins and being delusional.  No more trading, no more paying attention, no more forum, no more news, I am just going to stick my head up my ass and pretend I don't even own bitcoins. Until one day they are worth the magical $10000 we are supposed to be at at this point and then I will retire, laugh, and spend all my days trolling altcoin forums.  

My quote replies got fucked up.

[thresher]

Bitcoin is not a get rich quick scheme.

It is an experimental, peer to peer, electronic cash system.

The experiment has claimed another victim.

[BitCoinNutJob]

So if you have not reached this stage yet of realization, stop buying and get out while you can. or you will suffer the same fate.  Early adopters don't care abotu price, they took profit and all there btc now is just icing on the cake, manipulators don't care as they are making tons of money, it is the average douchebag late adopter like me that has born the consequences of bitcoin.

 

You are just viewing this off the back of a bad year for the price, what im doing is buying small amounts as the price goes down.  Did you ever determine an exit price? i have and its in the many thousands, if it doesnt hit i'd rather just let it hit zero.  Work on other sources of income and its no problem.

[Lauda]

Nice story,but it has 1 mistake in it.
You're a early adopter.

[ChuckBuck]

Count me in as a late adopter douchebag BTC holder, as I got into this late 2013.

Hey, it sucks, what can I tell you.  Waiting for something to go up "never" is the absolute worst.

That said, I'm more hopeful than other late adopter douchebag HODLERs, as I like what I'm hearing and seeing with each passing month and year.

Price wise, we're in the shitter, but the longer Bitcoin sticks around, the more legitimate it becomes.

I'm going to HODL until zero pretty much.  I'm already pot committed in this.

[Bit_Happy]

Before you read this feel free to look at my trust and realize, there were several times where I could have taken people's money who did not use escrow and did not.
Also when you check my join date I did not use this account originally, nor did I join as soon as I started with bitcoin.

I purchased my first 5 btc during the China fud dump and sold them a week later for a little over $500 profit (obviously if I would have held them longer I'd have made more money, but $500 to me back then was a lot of money as I did not have a real job.
Then I started building scrypt rigs and compounding all my btc thinking wow this great, I am making so much money from dogecoin.
Then another China fud dump happened, I bought 5 btc at $800, it rebounded but only to $820 and I did not sell thinking hey, btc was $1000 before this, has to go back.
To speed this up, then gox crash, bought more btc thinking it would rebound, then alt coin crash, more btc crashes, more china fud, each time buying more btc thinking hey we will rebound.
Somewhere in that time frame I purchased ant miners to go along with my gpu rigs and while they mined the btc they produced and then I sold them and kept that btc as well, the btc has not been worth the same again.
Then came the darkcoin pump and dump, originally I thought it saved me as it increased my stash, but again, I held thinking of a better tomorrow for btc.

Finally I started a boring ass career, but one that makes a pretty large amount of money (not to brag) and I was like, ehh fuck btc I don't have time for this.  I would check in and see it go down, each time buying one here, three there, and telling myself, this is awesome btc will make me profits and I will be able to hide my money there from banks and the tax man (yes, I am paranoid and greedy.)

Recently I have been agitated as hell that btc has never come close to showing signs of return to a respectable value, so I figured wtf I'll try trading, and while in the past two weeks I am doing well overall in my trading, It would take me months of this to recoup my losses, and I cannot watch charts and shit all fucking day. 

So now like every late adopter who didn't sell, and contiued to fall for the "btc to the moon," "btc cannot go lower,"  "wallstreet and big money,"(you know something btc core is supposed to be against) I am here with an embarrassing stash of btc, and yet I cannot bring myself to dump them because like any abusive relationship, btc and all the other delusional bitcoin holders just keep beating me up and promising me more.

So if you have not reached this stage yet of realization, stop buying and get out while you can. or you will suffer the same fate.  Early adopters don't care abotu price, they took profit and all there btc now is just icing on the cake, manipulators don't care as they are making tons of money, it is the average douchebag late adopter like me that has born the consequences of bitcoin.

 

"...stop buying and get out while you can..."
It isn't always supposed to be easy:
Your post is a classic indicator that the next big up move is due to start in the near future.

[Drummer]

we can at later if it will showing epic rise again later
let see it

[MichaelBliss]

If you bought some bitcoin as an investment then sold a week later, you can hardly call yourself "an adopter".   Especially if you keep all your coin on an exchange (don't know if you do or not)..  I mean you kind of have to use the technology a bit to say that your "an adopter" early or late.   And it's still early btw.

[1Referee]

Bitcoin is not a get rich quick scheme.

Look at how much people bought in at +$900 thinking it will go above $2000-$5000 in a very short time.

It's more than a fact that there is a large group of people who got burned due to their greed.

And after a while they mostly blame Bitcoin for being nothing more than a ponzi, etc.

Every one with very low market knowledge that thinks he or she can get rich very quickly is nothing more than a gambler.

There is a reason why whale traders make millions in profit........

[zimmah]

Ironically it's people like you that make the price tank.

If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.

Never invest money you can't affort to put aside for a long amount of time. And only sell when you got profit or when an unexpected event happens and you really need the money.

You only make a gain or loss when you decide to sell. If you bought Bitcoin for $800 and its currently at $227 you didn't make a loss unless you actually sell them. If you wait, price may recover to $1000 and you may actually make profit. Patience is important in trading. Patience makes money, impatience makes you poor.

[homeless hacker]

We are still all early adopters. Bitcoin is still in its early ages. There has been movement but nothing drastically over-the-top to account for another "stage".

[AtheistAKASaneBrain]

We are still all early adopters. Bitcoin is still in its early ages. There has been movement but nothing drastically over-the-top to account for another "stage".

We are not "early adopters" if by "early adopters" you understand getting rich quick. But yes, we are still soon enough to make great gains in the long term.

[Mageant]

I had the same feelings in 2011/early 2012.

If you can wait long enough your perspective will change.

[coinableS]

Count me in as a late adopter douchebag BTC holder, as I got into this late 2013.

Me too, December 2013!

[gogxmagog]

Like all the others said, you are an early adopter. If you bought in today you would still be an early adopter.
This btc experiment we all are a part of, it is an experiment. In the truest meaning of the word.
Sounds like you have not invested more than you can afford to lose, so why so upset?
It also sounds like your game plan is right on.
If this experiment succeeds, if btc is the "one" you will be sitting pretty. Many of us will. If it succeeds, that means the whole world will be using btc or btc related tech, then, those new to it will be the late one's.
I understand your malaise, the btc scene is mired in some topor of late. The doom and gloom brigade are coming out of the woodwork.
The healthy choice, it seems, is to just hodl and wait, don't obsess.
I give it 5 years. If by then nothing significant has developed, it's finished. Of course, by then, it should be pretty obvious.
Might as well go "all or nothing"