Buying and Losing My First Bitcoin - page 3.

Mr.right85

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Quote from: The Cryptovator on December 31, 2023, 02:50:54 PM

So yes, surprisingly, I also lost my first Bitcoin investment as well. Though I wasn't a loser when I invested through fiat like Payza or Perfect Money, I was just lost when I started investing through Bitcoin, and I learned they were actually scammers. So I left all kinds of Ponzi investments and started learning about cryptocurrency.

I don’t quite get it when you talk about investing using fiat money with Payza or Perfect Money systems. Where they not the same platform, I mean like, the supposed Ponzi that your Bitcoin investments was lost in?
How is it that, you lose with Bitcoin and not fiat because, my thoughts is that, if you were able to withdraw on the same platform using fiat options, you also should have been able to have an instantaneous withdrawal option using Bitcoin or other offered cryptocurrency as well.
Just want to know the mechanisms they used to archive a Bitcoin lose and not fiat though.

I’m the end, they always teach us a lesson, these Ponzi schemes and this lesson isn’t just about what happens on Ponzi schemes but the fact that, coins on centralized systems are never yours until it’s in a non custodian wallet.

Ziskinberg

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I should say greed and excitement mixed up the first time I invested in bitcoin. That's why when my first losses came, I was really depressed by that time. Until I realized that losses are actually inevitable in any type of investment most especially in a high risk investment like bitcoin. Although my first loss was not that huge but knowing I've used my hard-earned money, that part made me feel a bit of frustration and quite depressed.

The Cryptovator

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I learned about Bitcoin through so-called revenue-sharing sites when I was a beginner. That time, I wasn't aware that revenue-sharing sites were just Ponzi schemes. However, there was a Bitcoin payment system from which I was interested and learned about Bitcoin. So yes, surprisingly, I also lost my first Bitcoin investment as well. Though I wasn't a loser when I invested through fiat like Payza or Perfect Money, I was just lost when I started investing through Bitcoin, and I learned they were actually scammers. So I left all kinds of Ponzi investments and started learning about cryptocurrency.

Franctoshi

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Quote from: BIT-BENDER on December 30, 2023, 12:55:29 PM

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

I got to know Bitcoin that early or mid-2017 ,there were several of these high reward promising scam sites around that 2017 that offered attractive return on investment, and it was a trap for beginners then, they will pay for some months and before you could know it they are gone, As newbie in crypto space you can't totally avoid those newbie mistakes, and most times we learn from those mistakes, My friend and I even lost our Bitcoin in that 2017 as a result of this scam site, mine was around $75 worth of Bitcoin and my friend that introduced me lost about $95.

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Quote from: 0t3p0t on December 31, 2023, 07:43:39 AM

Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Well I told myself before that "I am now a certified Bitcoin investor." But contrary to what had happened to your investment, I did not lose my first Bitcoin investmemt instead I used it for me and my family's needs. It was strange at first and I am a bit worried about the risk but the outcome of that investment was great. Unfortunately my trading journey was nothing but a mess that is why I only buy and hodl. 😆 But recently, since I was enrolled in a signature campaign, there is no need fo me to buy Bitcoin. 😁

I'm glad that your initial Bitcoin investment provided tangible benefits for you and your family and you've found an alternative source of Bitcoin through a signature campaign. Wishing you continued success in your cryptocurrency journey! I hope more folks out there find their way, just like you did, when the crypto journey gets a bit rough.

Lorence.xD

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Being involved in crypto for a long time would help you know and be aware of Bitcoin's existence. At first, the thinking of investing in Bitcoin comes with a plan that, doesn't mean that you have the money you would go straight invest your money, so I did my research first and found answers to any question that came to my mind about Bitcoin such as how is the process of simply buying and selling, where could I convert money things like that. It is really hard to explore things that are not popular or widely known in your country, so there would be times there's a doubt that is it a good thing to study Bitcoin and invest. I started with a small amount, and don't have any idea if I'm on the right path, I did not lose it but I sold it early cause it just a little profit it's already a big deal for me.

wtsimis

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Quote from: famososMuertos on December 30, 2023, 03:36:44 PM

I don't really understand what the point of what you are asking is,

Actually the main purpose of my asking this question is, everyone in some way in his life first comes into contact with Bitcoin and buys Bitcoin. Also invests somewhere to make some profit. As I didn't understand at first, buying bitcoins means my money is invested. So I lost my first bitcoin by investing in a hype site to get some profit. So I asked to know if this has happened to anyone else.

Kelward

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

If Bitcoin is illegal in your country then it's not safe for to hold or trade it, if you must then it'll be at a great risk, so you'll have to be very careful with your decisions, or you can relocate to a crypto friendly country.

Most hyped projects on social media are scams, you'd have to carry out a thorough research before you invest your hard earned money, I guess you already knows that from your experience.

I lost the wallet address of my first Bitcoin, I never memorized it, and when I tried to access it from another wallet, it said that I misspelled a word in the seed phrase. I was sure that it's the correct seed phrase, perhaps an error from coinomi wallet. The Bitcoin is still in that wallet till today and I might not be able to send it forever.

wtsimis

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Quote from: BIT-BENDER on December 30, 2023, 12:55:29 PM

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

Third party hype site means, If I send the dollars I have to their wallet through their website, they will pay me $1.75 per day for 30 consecutive days. Buying my bitcoins was a bit of a hassle. First I bought PAYZA dollars with my country's money. I bought $25 worth of bitcoins with those PAYZA dollars. The hype site paid me $1.75 for three days, then stopped paying and was never found. They closed that website. Embarrassed

someone703

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That's why education is the ultimate armor in the Bitcoin arena. By understanding concepts like blockchain technology, market volatility, and risk management, investors can transform from impulsive gamblers to calculated strategists. Knowing when to buy becomes an art form, a dance between reading market signals and understanding personal risk tolerance.

But it's not just about self-education. Responsible advice becomes paramount when guiding others towards this volatile frontier. It's not enough to simply say "Bitcoin! Big money!" We have a duty to paint a realistic picture, highlighting the potential pitfalls just as readily as the glittering peaks. Transparency about price fluctuations, potential scams, and the ever-evolving landscape is crucial.

0t3p0t

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Well I told myself before that "I am now a certified Bitcoin investor." But contrary to what had happened to your investment, I did not lose my first Bitcoin investmemt instead I used it for me and my family's needs. It was strange at first and I am a bit worried about the risk but the outcome of that investment was great. Unfortunately my trading journey was nothing but a mess that is why I only buy and hodl. 😆 But recently, since I was enrolled in a signature campaign, there is no need fo me to buy Bitcoin. 😁

Kakmakr

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My first bitcoin was bought way back when a Bitcoin cost about $300+ .... I then saw a online site selling a necklace with a real dead Butterfly that was set in Gold, so I bought it as a gift for my mother. (She loved the whole back story about the butterfly and how they donated funds from these butterflies that died due to natural causes to save other species that was endangered)

We later found out that it was a huge scam and that no money went to nature conservation and that the Gold was fake. It was a very expensive lesson, but my mother really enjoyed the gift. Wink

SmartGold01

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I have never lost my investment to any silly site or scamming site because I wasn't that greedy of looking for a cheap site to double my money the main reason why people usually lost money to scam site is because they want to seat out there or sleeping while those site keeps generating money for them. What is killing most of us is that we don't want to go for information and do our researches concerning any site we are putting our money or if that you remained stick to bitcoin I am not sure you would have lost your investment and come to think this, $25 worth of bitcoin at 2017 could have been a reasonable investment by today compared with the current price of bitcoin today.

oktana

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Don’t beat yourself too much about it. It is these experiences that actually make you. We all have different experiences, mine was investing in a project I hoped will be massive only to figure out that it was a scam the whole time. I felt really bad because I had so much hope. But the decisions I make today is based off on events like that. About Bitcoin being illegal in your country, I won’t say you should go against the law but maybe you can have a friend who resides in a country where it is legal purchase some for you. Because Bitcoin will still keep growing.

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

My first Bitcoin was bought out of curiosity, I was told about Bitcoin by a group of persons at a seminar they organized in my locality sometimes around 2020 so I was told how profitable it can be and the fact that it decentralized so you reserve much control over your portfolio, these and more were been mentioned to me then so I became curious as to how profitable this investment can be and still gives me the full control over it , after the seminar I approached one of the organizers who helped me through on how to purchase my first bit coin and I invested $50 for a trial with the hope that upon exponential appreciation I will increase my portfolio size, my portfolio did increased and I was glad I did ceased that opportunity.

Few months down the line I contacted one of the seminar organisers who stood in as a mentor and he advised I allow by portfolio grow awhile again which I did, and when I was ready to harvest the proceeds he did helped me through again how to sell off my Bitcoin and make profit, it was the proceeds from my Bitcoin I use to establish a small business in my locality which today has grown into a bigger establishment. I didn't regret ever investing in Bitcoin.

btc78

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That is sad to hear but i am hoping that you picked yourself up and continued with your chin held high it is really a waste to fall victim to these kind of things but once you have fallen into it all you can do is bounce from it and learn from it

Meanwhile I remember investing into bitcoin with a few money i saved it was just little amount but seeing how it was growing made me excited and happy and to be honest this might sound a little corny but during hard times i just think about the fact that i hold some bitcoin now it makes me feel a little better and more secured i guess

lizarder

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

It was a bad experience that should be an important lesson for the future and there are probably many people who didn't have a good moment at the start of their involvement in bitcoin. But experience teaches us how every mistake must be corrected and with this experience we can learn to be more responsible for the investments we make in bitcoin. If you look at the age of your involvement in bitcoin, it should be more mature because we have known about bitcoin for so long and maybe there is a lot of experience that we can find.

Hopefully next year will be better, especially for those of us who have been in investment for a long time because only in this way can we gain financial freedom independently. Bitcoin can provide a good path and bitcoin is a sure step if invested correctly, you just need to be patient and continue to collect responsibly.

Quote from: wtsimis on December 30, 2023, 12:01:34 PM

How did it feel when you first invested in Bitcoin?

In fact, I lost my taste when I first got to know Bitcoin and my first investment didn't go well, even though the number of buyers wasn't too big. But over time I realized that investing in Bitcoin requires the right knowledge if you don't want to experience losses.

Assface16678

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Well, it's unfortunate to hear that bitcoin in your country is still illegal, but I think most of the country's bitcoin is illegal, but still, we can own them and access them. What's illegal about bitcoin is that you can't use it like a regular currency when buying something; hence, some establishments and businesses are starting to adopt it and accept crypto currency payments, mainly bitcoin. Well, it can't be helped that in your first investment in bitcoin you will sell it or, like you said, you will use it with a third party, which is not a good idea. But I think you've learned your lesson from those happenings. It's not too late. You can still invest in bitcoin now. It's up to you how much you will invest because any amount is acceptable. It's up to you how you will grow that small investment. Do DCA so you can accumulate a lot of bitcoin in no time.

Nrcewker

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I bought Bitcoins only to gamble. I was completely new to the gambling world. I knew about gambling but was newbie at that time. I was too shy to go to offline gambling centres or casinos to gamble. Hence I thought of gambling online and introduced to crypto gambling. We had the option to remain anonymous in the casino and that’s why I chose crypto gambling. I bought the Bitcoins and made some good money by gambling it. I don’t remember exactly how I spent the profits or Bitcoins at that time.

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Quote from: wtsimis on December 30, 2023, 12:01:34 PM

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Those feelings and impressions received from the first purchase of bitcoin for each bitcoiner will remain irreplaceable, even if they were purchased for $25 or so. It is something like the delight of touching a wonderful technology, hitherto unfamiliar. Indeed, it is impressive and there is a certain magic in it. You remember that expression that says that any developed technology is indistinguishable from magic?

Any loss, be it bitcoin or regular money, leaves an unpleasant feeling. This is a common occurrence for bitcoiners, dating back to the early years of bitcoin, when bitcoin were lost in one way or another. Almost everyone who has owned a particle of a bitcoin has had this unpleasant experience.

Topic: Buying and Losing My First Bitcoin - page 3. (Read 610 times)