Topic: Buying Bitcoin was a worst decision of my life - page 18. (Read 16018 times)

To me Bitcoin is the best investment of my life. In the years I have traded Bitcoin it made me a good profit. I used to trade stocks and that gave me around 10% profit per year. Bitcoin trading made me this current year already around 60% profit, and the year isn't over yet.

Why would you buy without the ability to hold for +10 years..

Lets see , bitcoin fundamentals have only got better over time, and yet price has fallen until the beginning of this year where we have entered a long side ways channel. I think now if ever is the best time to buy if you're investing.

Secondly, investing shouldn't be about looking at short term gains, if that were the case, you would have cut your losses or hedged your way down.

I understand your situation. Or at least I can understand someone who wanted to earn doing in investment and seeing that the investment did not go in the desired way. I had such situation in my life. Fortunately I bought my bitcoins (all those which have bought) at a better price like that the actual and I am about +50% in profit if I sell those in this moment. So my words would be misinterpreted by you. We are not in the same situation and you can tell that my below words are told because I am in profit. Anyhow I will tell those.

You are in loss. But you will feel better for sure if, at the same time, you will have FAITH. Faith in bitcoin as the first and the best known materialization of the disruptive technology peer to peer from which was invented. This technology is attracting day by day the attention of the best scientist of the world and even the attention of important Governments and Monetary Authorities such USA, England, Russia etc. which want to use it. I can give links with articles which testify that these countries are studying this technology with the aim to use it. Or you can find those yourself doing a simple search in internet with google.

The faith will help you to believe in more better situation of bitcoin.

The technology and the big and increasing interest about it will give you the hope that it will not leave that its "first child" go in vain.

Believing and hoping you will find yourself in a totally different situation. At least you will not think more that the bought of your bitcoins was not the worst decision of your life.

Forget your bitcoins in their wallet, wait, believe and hope and maybe the bought of bitcoins one day will become the best decision of your life.

Now ALL your profits belong to me..... sigh, why so happy about someone else his misfortune, also, ALL your profits, we're talking to a regular miljonair over here 

There's so many ways to respond to this. I don't think purchasing Bitcoin was the worst decision of my life. The worst decision was not buying in when it was $40 a coin. You haven't lost any money until you cash out honestly, if you're already that far down I would just ride it out. This only applies if you followed the first rule of investing in a highly speculative asset: don't invest more than you can afford to lose. I treat my coins like lottery tickets. It could be my ticket to retirement, or end up in the trash, only time will tell.

+1. The most important technology after invention of Internet, that has huge financial and social implications can't fail. There's first-mover advantage. Be patient, when this fake fairy fiat tale starts to fall apart, that's when Bitcoin will really start to shine. 10K USD/BTC is most few years away IMO.

I think that Bitcoin should be bought only if you are prepared to hold on it for the next 5-7 years.

This alone says all about you.

Reason you jumped on this is so you want to get rich quick. You're just clueless about monetary and fundamentals.


Btw, you're already using bank coins , idiot

I absolutely don't think that it was a bad decision at all and I think you must have bought it because you saw the early adopters make some nice money and you thought this would be another get rich scheme and it didn't work out. For me it's a great new technology and being a part of it is a privilege, I have bought before and if my pocket allows me and I will buy again in future but I am not going to ask you to change your mind, it's your money, do whatever you wish to, like I am doing with mine. Who's right/wrong, the future will tell.

Only a trader will understand what you said. No point in saying this to a get rich quick kid.

I would just wait it out. It sucks to wake up every morning with that bad taste in your mouth, but imagine if OP sells it for a loss, and in 6 months the price skyrockets to a $1,000 again.

I would rather lose all of my investment then sell to cut my loses at the moment and then live with another bad taste in my mouth if one day Bitcoin makes a run again.

While this suggestion may be correct at this point in time.... remember that those who followed this advice in 2014 (and it was indeed very common advice) exacerbated their bad investment position. They are now much worse off.

You aren't the only one.  I luckily did not purchase any coins back then.  I figured the price was jumped up and it wasn't quite real.  Unfortunately you only have a couple options now.  You can wait it out and keep those coins in storage and hope for a positive return.  Or you can sell and cut your losses.  Either way you are gambling.

I don't think that buying Bitcoins was/is worst decision of my life, i've invested only small amount of money though and have earned a few.
OP add a poll maybe lol

Things can get alot worse before they get better.. But you're probably right.

I think if you buy now, in the medium to long term you will probably do just fine.

I paid too much for my BTC, and I'm sitting on an unrealized loss, but I'm planning to hodl for a looooooong time.

I never bought BTC looking for a short term profit.  I bought it because of a long term vision and I wasn't
going to miss out on a once in a lifetime opportunity, even if it meant overpaying. 

I'm fine with it.

Sounds like you are upset in your investment decision, but if you bought it for the short term, you should
not have let it go against you 50%.  And if you bought it for the long term, you should be holding and
not worrying about it.

Sorry that buying Bitcoin doesn't work for you, but you haven't to generalize your problem , the things works depending in the prices, and the prices are variable , get up and down every second, and no one can guess exactly the coming prices , so you can hold your Bitcoin and wait for the right moment to sell it if you like

It can but it is more useful as a currency when dealing with high value items and you have a minute to wait for confirmations, such as a car or bullion but merchants don't want to allow 0 confirmation out of fear of a double spend and they want to move their money to fiat instantly which does no help to the Bitcoin ecosystem.