Topic: Buying Bitcoin was a worst decision of my life - page 14. (Read 16018 times)

Same thoughts I too have. Even I also have bought some bitcoin when it was priced above $1100. But I still hold them for my life. All my bitcoin earnings are for my life not just for a price raise to sell to see the profits. Those who believe in bitcoin will accept my intentions.

I ever thought or consider bitcoin as a worst decision I ever made because bitcoin somewhat helped me when i'm short with money and it opened more opportunities to earn a side income in this site.

I love bitcoin; however, I totally agree with your statement about the cultish nature of the community.  I call it the "Gollum Affect."  As Gollum would say, "My precious! My precious!  Must have my precious!"

That's nice and useful advice, i think also that choosing the right time to buy Bitcoins can really minimize the risks, if we plan to trade it or exchange with fiat

The price will rise again as it always does don't worry

I think if you are really interested in Bitcoin just try to get 1 BTC like many of us are after. If it really works there's a great chance it will be VERY valuable. To me that's a long shot, in 5-10 years a more realistic view would be that it would be valuable around to the equivalent of today's $500-1000, and that's fine by me.

If you are wealthy enough of course you can get 10-100 BTC now, if that's something you won't really miss. The chance that Bitcoin vanishes in the next years or cost next to nothing is a real one.

To be honest, Bitcoin isn't particularly mature and is very volatile with all the unfinished regulations and unknown stance on what the governments would take. Only invest what you can afford to lose and keep a reserve for yourself to spend.

I'm still in profit
Bought when bitcoin was around 100 euro.
Sold some when they were at 1000 euro and kept the rest.

Pretty good decisions in my opinion.

I am new in this bitcoin world. Actually, I don't know what strategies should I need to use so that I will not experience what did you experienced.
Anyway, I hope you may find a way to work the bitcoin with you.
Just don't give up and try to believe again in bitcoin.

I've never bought a new car - they depreciate 50% over their first 3 years, and about 10% on leaving the showroom - but if I had I reckon that would have been the worst decision of my life !!

Re. investing - best you can do is manage the risk and hope you're up when you need to cash in.

Bitcoin, for me, is a little different, say, to investing in shares/funds/assets - cos I actually believe in its utopian potential.

So I'll be holding and spending BTC.


ps. regarding the "cult" aspect of this forum/bitcoin. I know what you are saying - but then again just about any shared interest could be likewise defined. My general opinion is that this forum is a broad church. The yanks manner takes a bit of getting used to for a small town Brit like myself - christ you'd think they invented the fucking thing to here some of them talk  -  but some of them (a few) are,actually, clever fuckers. They just need to understand 1) Satoshi was English  and 2) we wrote the book on Empire - and ours lasted considerably longer than theirs has. And ours actually gave something back 

   Approach everything here with scepticism and assume everyone is on the make - that notwithstanding there's a lot to be gleaned here from quite a few smart people. I still come here anyhow, in spite of everything.

well prices are slowly climbing back up now so that should cheer you up. Try not to buy bitcoin when you feel like its doing good because at that point the price is most likely at the peak, a good time to buy bitcoin would have been around a week ago when the price was around ~240usd.
anyways i hope your loss diminishes and you don't think of bitcoin as a "life ruiner"

Haha, yes this... If you think about what people did to get bitcoins back in like 2012, 2013, 2014  it would make your head spin and cringe.  People have lost so much money when the hype took them to $800+ ... but hopefully the people who bought in at that price point didn't dump all there bitcoins back out at say like $300 when it was coming back down hard.  I can't imagine what the guy feels like that sold his house... lol I would be so pissed.

Well most of those who bought in that range are driven by emotions and lack of careful analysis on the matter. It's really a big help if you weigh your choices first before you decide. As I see it, everyone expects the halving to create a significant push in price. I hope so, so I can sell some and buy back again cheap!

To op, don't lose hope. Some even sold their houses and went all in to bitcoin.

5 years = $500? Psshh... please. Try $5,000 ... There have just been way too many good breakthroughs for bitcoin the last couple of months while the prices where dropping.  People and businesses have been innovating the way to invest and use bitcoins... there will be no major downturn in price ever again.

If the OP is smart enough just to hold long enough I am sure he will get his money back and even make some profits. This is the future guys and I am definitely sure that in about 5 years, price will be much higher than just $500 where the OP got into.

Mark my words, this will happen!

What an ObscureBean you are. You must be a glass half-full kind of person because I can't feel anything except for resent, contempt and frustration when I think about how badly I could've used the money that's sitting in another's pocket

Well it's ok, you can still find some comfort knowing that your missing funds have been relocated to someone else's pockets    It's all part of the game, you win some you lose some. You need to lose some for others to be able to win some. In the immortal words of Kurt Cobain "Her milk is my shit, my shit is her milk" 

when ceasar presented the coin to jesus only 100 years after become stable

There is a vast sea of zeitgeist mumbo-jumbo these days as many big-companies and even independent film-makers have jumped on the band-wagon! Definitely a fun weekend to just spend it getting hyped on Bitcoin films/stories. That's what I'm doing while I'm working

Weren't there like 3 other "Zeitgeist" films and things people were trying to include?  I remember only really diving in deep on the 1st one, and then after that didn't really look to more in it, but since it's the weekend, I might as well try to look all that stuff again to pump me up about the bitcoin pump