Topic: Buying and Losing My First Bitcoin - page 4. (Read 610 times)

I think you made a mistake by trusting a third party for which you lost your invested bitcoins. However my first bitcoin investment was a different feeling because I invested in bitcoin with my earnings which was only five dollars. But I have invested bitcoins very carefully because if a third party finds out about bitcoins, I can lose bitcoins.
 All Bitcoin investors should keep their invested Bitcoins extremely safe and secure.

I'm just curious as to how you plan on losing whatever money you may have put in bitcoin. Anything that is deemed touted requires more scrutiny than you may think, as many people have fallen victim to fraudulent schemes using these projects. When you invested in bitcoin in 2017, the price was approximately $19,000. And I'm sure you won't fall for a scam like that again because losing that money to one of them has opened your eyes. Many people have lost a significant amount of money in these schemes, but more and more people are becoming aware of the need to invest in anything they see.

The third-party hype site may provide information on a bonzi scheme whereby you deposit $25 and receive x3 or x10 of your investment in a matter of weeks. This is a common practice among ponzi operators, and it makes people even more excited since they believe they can become wealthy overnight. If you wish to hold onto your bitcoin after purchasing it, it is best to store it in a more secure wallet. And since it has a private key and may have been negligently disclosed, the onus should be on the individual if anything should still happen to it. When investing in bitcoin, you shouldn't believe everything you see.



Anything like this can happen to anyone, but he has already learnt that in the case of bitcoin, anything involving a third party should be avoided at all costs since that third party could be the devil himself, meaning they could steal your bitcoin. We are aware of the fascination surrounding bitcoin, but given how rotten the banking system is, it is impossible to completely eradicate it. The best course of action is to conduct research before investing any money because it will protect us from many risks, particularly scammers.

Wow! I can only imagine how that must have felt for you. Trying to take a first huge and big move although $25 might not be much but, I can’t say what it meant to you at the time nor it’s worth in your locality but, having yo make this investment out of a friendly advice and getting to lose it is something that cuts dip.

Still, the mistake here is in the step as you now acknowledge. It’s why, wallets are preached better than these third party sites or exchanges. These guys directly becomes custodians of your coins and what affects them directly affects you. That wasn’t the purpose for the Bitcoin innovation. It’s Sulla decentralized currency and that means, you get sole custody of your funds.

The Goodnews is, the event is in the wind and your still here. Hope you learned from your mistake and isn’t ready to give up on Bitcoin just yet. It’s an investment for a future, don’t lose with a negative experience.

If you are not careful enough then there's a chance that you will lose your bitcoin and it would be very hard especially if your country banned the use of crypto. There's nothing you can do if your country banned crypto and the only thing you can do is to keep using it without getting caught and need to be very careful about it. Well, I don't know the reason why your country banned bitcoin but I am sure they have reason for doing it and my guess is that they can't control bitcoin unlike fiat money where your government have full control.

Nothing much really. For the most part I knew little bout bitcoin way back then and only invested in it cause I heard that it could give me some monetary gains nothing crazy, but when I saw just how much it has grown in value over the years I fell into the realization that bitcoin isn't your dime a dozen crypto or investment venture for that matter. It's too powerful if I do say so myself. When I first bought it (Actually earned it since I didn't really buy bitcoin and only got it from working in a signature campaign in the past), I didn't really think that it would shoot up this magnificently in value and in importance, but yeah I quickly lost it too, lost all my crypto assets in just three years and took me a long while before I got back in the crypto business with a newly-envigored passion for money and a brand new perspective about cryptocurrencies. If you lost your first bitcoin and you could still earn some, don't fret and actually work on getting your losses back instead of being mopey and sad about it.

Also sorry about you not being able to buy bitcoin nor hold it cause of you country's bylaws. Please understand that your country has their reasons to ban it, perhaps they don't know how to tax bitcoin just yet or they are afraid of how powerful it will be in the hands of people who does Money Laundering for business. It's a bummer but there is a method to their madness.

Surprisingly this is the most method that people used to lose their Bitcoin in the early days of Bitcoin investment. I have heard many stories of people who bought reasonable amount of Bitcoin when bitcoin was first created and they all lost to those coins because they registered in third party application in the name of trading and to multiply their Bitcoin. Little did they know that what they needed was not to multiply their Bitcoin, no that they had more than enough bitcoin to sustain them in the whole life. We are just looking at the fiat equivalent of that bitcoin as of them and they wanted to multiply it. That was required of them was to hold till the coin appreciated. Many people who bought then and who did not also lose them to third party applications could not recover their bitcoin because they did not know the value of what they bought and hence they did not save it well.

The majority of the lost bitcoin was from the early days of bitcoin. But till today, I still see people patronising and their party apps to multiply their coins. What a folly!

$25 is an amount of money that I think is valuable for you to learn something useful. I myself have missed many opportunities and in the past I have seen my own stupidity when I sold bitcoin at too low a price, but until now. Now, after many experiences that I think are quite useful, I have realized that with bitcoin, people always have many opportunities to develop and achieve their goals. There are stupidities that I find quite humorous in myself. I once accidentally transferred bitcoin to an address that did not belong to me and through small mistakes I was able to recover and try more to learn the ever-changing knowledge surrounding bitcoin, from equipping protection skills, analysis, capital management,... yep, remember one thing, we will all taste the taste of the goal for which we have strived.

I invested in bitcoin only when I had gathered a lot of knowledge from the forum about it. I didn’t fall any scandal of any kind of scam project yet and I don’t hope too with the necessary knowledge I have acquired from this forum all the time I have being here. What happened in your case was lack of knowledge about bitcoin, buying $25 worth of bitcoin in 2017 is a big value with the current price of bitcoin now. If you had the right knowledge then, you wouldn’t have gambled with your first bitcoin investment. A lesson has been learnt and I’m certain such mistake won’t come again. Investing in bitcoin is one of the best feeling you can have knowing that you’ve invested in the right coin and remaining optimistic of the positive outcome of it that awaits you.

Bitcoin is a valuable investment. Anyone who sees losing bitcoin might probably be in deep regrets wishing he had secured more his bitcoin so that he won' suffer from losing it. Regardless of the amount of capital, as long as you value your bitcoin, losing it is always hard to accept. Not only in bitcoin, but even in all types of investments, losing is certainly hard to ignore. Hence, if we can secure our investments first before rushing to invest more, that would be the best decision. Greed will only lead you to losses, so never ever fall on it.

Your experience is a very bad one but it's no longer new here because so many members has encountered lost of funds either by investing in ponzi scheme or scammers taking their funds but at the end they learn and become very cautious and protective of their investment.

You have already made the mistake but you have to stand up and not get discouraged by the mistake you made in the past but this time, learn to ask questions and do your own research before investing into Bitcoin.

I don't really understand what the point of what you are asking is, perhaps some users have the tendency to think that bitcoins are not spent, but, at some point they have to be sold or invested, some even use it for trivial things like buying things , or bet.

Now losing them has never happened to me, but I don't think it's the idea in your context, because some lose their keys, or some hacking of an exchange or even their own wallet, that is very sad, but any of the others mentioned in my first paragraph, they happen and should not be considered lost.

Well, I haven't invested in Bitcoin yet because I'm not earning for now, but soon I will be investing a huge amount that might cover up the DCA that I wish to do since I knew about Bitcoin. I'm also happy that I learned about Bitcoin. Though the learning continues, I know for sure that I won't regret my actions because I know the risks, pros, and cons of Bitcoin investment and would not make the mistake of investing in shitcoins that will end up putting me in regret.

It was hard to accept your statement,but you can try another way to use the cryptocurrency in your country.If you had hold that bitcoin for now,it value will be huge then you had expected.Many traders get into the cryptocurrency trading as like you after 2017.It was very happy to see you guys and this will increase the demand of the bitcoin in the market.So the price of bitcoin will increased to good value as you expected it as of now.But still you can increase your bitcoin portfolio by buying the bitcoin with the periodic investment in the bitcoin.It help you to buy the bitcoin at various prices,the final result will be good because you can able to come across next halves in 2024.


It was the fact to buy the bitcoin at the various price as of now,because bitcoin is the decentralised cryptocurrency.The various prices will give them many chances to get profit at every bull run in the price of bitcoin in long run.The loss is over,but you can do the new bitcoin trading along with this 2024 new year.

If you ask me about my feelings when I first invested in Bitcoin, of course I felt quite happy even though I didn't express my joy to everyone when I first invested in Bitcoin. But what people who have invested in Bitcoin have seen for a long time is that it is a very normal thing and they have even made it a routine job where they don't have to feel like doing it because they are so used to it. But for people who have just tried it, it is certainly very common to have feelings of joy in their hearts when they are able to invest in Bitcoin.

You still had time to buy it back if you had it in 2017. You may feel like an unlucky person who missed a chance, but really you had so many opportunities to join the party in 2018, 2019 and 2020... That's the real sham, not that you lost bitcoin in 2017 because many of us lost or spent our coins in the early days getting next to nothing for it, but that you did not try to get it back, or at least that's how I understand the regret in your post. Losing $25 is nothing, but losing cheap bitcoin that you could have profited 1000% on is something.

Well, when it comes to losses in crypto, I believe we've all had our fair share of it, I also lost my first bitcoin investment to ponzi scheme, when I bought my first bitcoin, I was actually expecting it to start going up, but unfortunately, the reverse was the case, the price of bitcoin started goin down instead, being new to bitcoin, panic set in and i withdrew the money and invested it in a ponzi scheme hoping to cash out big, then I will invest part of the money back into bitcoin, but unfortunately, I lost the money, it was actually a very devastating experience back then, since I was relatively new to the internet, I was also new to ponzi back then, didn't even knew what ponzi meant until after my experience.

But I am happy that, All those are in the past now, things have changed and right now, I know what is truth and what if false, I hardly will lose my bitcoin ever again.

Normally when you have not understand the concepts of bitcoin at first you be rush to invest in bitcoin but when you study the concepts very well you will know the good time to invest in bitcoin and secondly, before someone or you advice any person to invest try to educate the person the falling and rising of bitcoin, and again theirs some certain things you are supposed to know concerning bitcoin, the thing is that the time to buy so that you will make profit and time not to buy bitcoin, so I believe that is what put some people into trouble from my understanding

I didn't invest per se. My first couple of satoshis were gotten from faucets sites back when faucets were still a thing. As you can imagine, the amount wasn't big (a couple of 200-1k sats per site here and there). Anyway, I gathered what I had and poured all of it into a ponzi scheme called MMMUnited. At the time, I barely knew about ponzi schemes. It was until the site was no longer operational that I learnt my lesson.



At the time, there was barely useful resources about Bitcoin. One could barely tell the difference between what was legit and what was ponzi scheme scam. It's easier these days.

Losing your first bitcoin investment is really frustrating, most especially if you use your hard-earned money just to buy that bitcoin. But no worries, all investments are actually tested at first and once you have learned your lesson, that's the time that you will be more capable to invest and gain more promising profits. People lost their bitcoin probably because of scam due to lack of security or its just that the investor itself is not knowledgeable enough to secure his bitcoin.

Whatever the reason, that will teach you to be more cautious and more careful every time you decide to invest. And once you start taking investments, be responsible to provide high security of your coins so you won't end up regretting due to lost bitcoins.

I was mislead by the first sentence " Bitcoin is completely illegal in my country.." I'm not sure if you are referring to it as now or in 2017 but I'm pretty sure it wasn't banned that year, not even a single country would ban it coz it is powerless, I could say, that time not until it exploded that year as well. Buying my first bitcoin got me a giggle, it is memorable how the bitcoin stored in your wallet. I remember using a local e-wallet that stores bitcoin that time, and it really felt like you are ahead of the majority of people coz you are storing a money on different form and it is not a 'digital' or 'wired money.