A story about how to lose everything or "happy" 2019.

panganib999

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Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

First things first, you shouldn't do anything inside the cryptospace for the reason of being persuaded and convinced by anyone, you're putting yourself and your cryptos in a very big risk.
You should always consider studying the market cap and the charts so you will be able to recognize trading opportunities if ever you're trading and spot downsides so you'll kmow if you're gonna make an action or not. Doing something inside the crypto space without an intensive learning and study about anything the easiest way to lose everything in 2019

Wexnident

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Quote from: evgenia_volkova on October 22, 2019, 07:09:40 AM

Quote from: judeafante on October 22, 2019, 12:04:49 AM

0.4 is not a small amount to take it for granted and not to use your own wallet to keep it, I think you are investing without educating yourself on how to keep your investment in a correct manner, honestly there is no such thing as stable exchange, there's always a possibility of hack, in your case the exchange is already gone, and it will take a lot to get those Bitcoin back, I'm pretty sure you know what you are going to do, it's a lesson learned.

Small amount? the OP says he invested in jan if it was jan 2018 then the fiat value equivalent to 0.4 BTC is not small. Learning which costs 0.4 is actually huge cost for this learning.

I'm pretty sure he's not saying it's small but rather saying that 0.4 is not a small amount. Heck compared to the first few years of bitcoin, any price of the current BTC is enough to say as not a "small amount". Well, I'd agree with others that OP already lost those 0.4 BTC he/she had back then. It's his/her fault for not managing it well enough. We all know that investments are supposed to be managed even if not 24/7, at the very least, spend some time to check it out at least once a day.

evgenia_volkova

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Quote from: judeafante on October 22, 2019, 12:04:49 AM

Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

0.4 is not a small amount to take it for granted and not to use your own wallet to keep it, I think you are investing without educating yourself on how to keep your investment in a correct manner, honestly there is no such thing as stable exchange, there's always a possibility of hack, in your case the exchange is already gone, and it will take a lot to get those Bitcoin back, I'm pretty sure you know what you are going to do, it's a lesson learned.

Small amount? the OP says he invested in jan if it was jan 2018 then the fiat value equivalent to 0.4 BTC is not small. Learning which costs 0.4 is actually huge cost for this learning.

Taskford

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Quote from: judeafante on October 22, 2019, 12:04:49 AM

Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

0.4 is not a small amount to take it for granted and not to use your own wallet to keep it, I think you are investing without educating yourself on how to keep your investment in a correct manner, honestly there is no such thing as stable exchange, there's always a possibility of hack, in your case the exchange is already gone, and it will take a lot to get those Bitcoin back, I'm pretty sure you know what you are going to do, it's a lesson learned.

That would be a devastating loss for certain people here and 0.4 is huge amount, besides it's a huge lesson for us upon trusting on exchange whether it's big or small it's truly better for us to do a safekeeping on our personal wallets and always trade the amount what we can afford to lose(always the best word in terms of investments/trading).

judeafante

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Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

0.4 is not a small amount to take it for granted and not to use your own wallet to keep it, I think you are investing without educating yourself on how to keep your investment in a correct manner, honestly there is no such thing as stable exchange, there's always a possibility of hack, in your case the exchange is already gone, and it will take a lot to get those Bitcoin back, I'm pretty sure you know what you are going to do, it's a lesson learned.

UserU

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Quote from: pooya87 on October 20, 2019, 11:20:53 PM

something doesn't make sense to me here.
you say you bought bitcoin, so you must have bought it with fiat on a bitcoin-fiat exchange. but then you say you stored your coins on an exchange and continue to say it was cryptopia, that is an altcoin exchange. so in other words you bought your bitcoin on a bitcoin exchange and then decided to open an another account on an altcoin exchange for storage?

Now you mentioned it, the OP should have just left BTC on the fiat-BTC exchange unless his friend wanted him to invest in some altcoins (on Cryptopia) but didn't follow up.

Anyhoo, he was last seen nearly 2 months ago so we might or might not know more.

pooya87

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something doesn't make sense to me here.
you say you bought bitcoin, so you must have bought it with fiat on a bitcoin-fiat exchange. but then you say you stored your coins on an exchange and continue to say it was cryptopia, that is an altcoin exchange. so in other words you bought your bitcoin on a bitcoin exchange and then decided to open an another account on an altcoin exchange for storage?

Lafu

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A lot of users have coins there sitting around (me also) and there is not much we all can do at the moment as only waiting what the Liquidators doing !
You can look at for updates on the Cryptopia Twitter or directly on the Liquidators home page from time to time if there any news .
The last update from the liquidators is some time ago.

AlmazWin

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Quote from: rovend on June 28, 2019, 12:58:59 AM

Thank you all. I will wait for the complete liquidation of the exchange.

It will be many years before you wait

Kakmakr

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You are basically at the mercy of the liquidators and there are nothing that you can do to speed up the process. I know the liquidator was approached by a potential buyer, but they denied the offer, so now creditors will have to wait for the process to complete, before they will know what they will get out of this mess. Roll Eyes

This is why we always advise people not to use exchanges as their wallet provider, because exchanges are the primary target for hackers. Good luck with your medical treatment, I hope you will be able to come out of that without any permanent damage. Sad

rovend

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Thank you all. I will wait for the complete liquidation of the exchange.

LTU_btc

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Oh man, it sucks! I would like to tell something good to you, but I'm afraid it's not very likely that you will be able to return your BTC. I only can wish you to get well soon!

Quote from: chicken65 on June 27, 2019, 04:15:30 PM

If you're going to leave coins on an exchange at least choose one of the larger ones which have been around for some years - but even then there are no guarantees.

It's never a good idea to leave coins on exchange for a long time, no matter reputable this exchange is. Cryptopia was pretty big exchange and they've been in markets for long time already, there was no red flags about this exchange as I remember and you see what happened.

Quote from: nakamura12 on June 27, 2019, 05:02:20 PM

The best solution is to buy hardware wallet to store your btc thete rather than storing it on an exchange to avoid losing your btc.

I'm afraid it's too late to suggest it. And people who aren't looking into crypto very seriously aren't likely to consider to spend ~$100 to buy hardware wallet. Sometimes like in OP story, people sometimes don't even bother to setup proper desktop or even web wallet. They rather leave coins on exchange.

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Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

The best solution is to buy hardware wallet to store your btc thete rather than storing it on an exchange to avoid losing your btc. You still have chance to earn back your 0.4 btc if you have left by holding your btc, trading and more until you'll see that you have more btc now.

chicken65

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Quote from: rovend on June 27, 2019, 02:28:46 PM

The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

Sorry to hear that. It's very unlikely you will get your BTC back - although I'm not 100% familiar with the Cryptopia situation.

My advice is to study new and about to be released coins for cheap ins. A couple of hundred bucks is all it takes and if that coin is successful then before you know it you have 1 BTC
If you're going to leave coins on an exchange at least choose one of the larger ones which have been around for some years - but even then there are no guarantees.

Upgrade00

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Firstly, when investing in cryptocurrency or any venture, you shouldn't be persuaded. You should be advised and giving tools to help you grow your knowledge. This would make it easier for the investor to manage their assets effectively.

Cryptopia exchange was liquidated sometime last year due to a major hack. I do not know of any possibilities of regaining your bitcoins which was on that exchange.
Storing your assets on an exchange is never a good idea.
You should own the keys to the address which holds your assets.

I'd advice you first build on knowledge, then invest money

rovend

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The story of how to lose everything. On a typical January evening, my friend persuaded me to buy some bitcoin. I resisted for a long time but decided to buy 0.4 bitcoin. In order not to bother with wallets and keys, I decided to bitcoin on the exchange. The course did not change much and I did not follow him.
Everything would be fine, but in May I dived incorrectly and broke my neck. June 16, I came home from the hospital.
The surgery and treatment nearly emptied my pocket.
I decided to sell bitcoins and transfer money for rehabilitation. And then I realized that this year I have more and more luck every day, because my exchange is cryptopia.co.nz
Maybe someone will tell if there is a chance to return these 0.4 bitcoins faster. Thank you all for the advice.

Topic: A story about how to lose everything or "happy" 2019. (Read 257 times)