Enough is enough! Good bye Bitcoin! - page 7.

yazher

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

Keep it as a remembrance, You cannot sell it in your country cause only a few of you guys know how to use that thing. besides, you won't get much if you sold it. it's better to keep it if you want so that you still have some reminiscence with the volatility of the crypto market. It's a good exit from you though the price was not that high from the price you first bought them, 1.25+ increase in better than the negative. Maybe if they renew the regulations in your country, you can come back again after that.

Wind_FURY

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin. Angry

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

HODL.

BUT, if you have truly decided, then OK. Bitcoin is not for everyone. Good-bye, and good luck to your future.

Let me part with this advice. Never check Bitcoin's price 5 - 10 years from now. It would be better for your heart to know NOTHING.

CaVO32

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Quote from: Jet Cash on October 06, 2020, 02:57:13 AM

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

I'd use it to store some Bitcoin.

It may be that you decide that enough is enough, and move to another country. Bitcoin would be a great help for you then. Alternatively, you could wait for the wind of change in your country. Some countries seem to change their ideas about Bitcoin almost as frequently as they change their policies on the Kung 'flu.

This is what I am thinking here. I don't think his country will forever have the same stance when it comes to cryptocurrency. Is there a reason why they are shutting down their only local crypto exchange and what is the name of that cryptoexchange? But searching in google, why it is showing there are about 9 exchanges that he can use for crypto purposes if you are living in Kuwait?

https://www.buybitcoinworldwide.com/kuwait/

Also, I don't think it is the end of his career in bitcoin. Bitcoin as of now is not a legal tender but it is legal to use in their country. I think it is how he will manage his crypto transactions to avoid losses. He needs to find his best option to trade bitcoin or other crypto that will not incur losses or at least lessen those losses.

Jayrmalakas

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it is a part of bitcoin way to do something better , do not think negativity you are also a newbie, you let to focus on other exchange and trading fair it is part of bitcoin trader sometimes you may lost and sometimes you may good earn

davis196

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There's no need of over-dramatic posts here.
Losing money while trading Bitcoin is something normal.Only the most persistent will survive in this game.
I don't know anything about this crypto exchange platform located in Kuwait that you have used,but I would never "bet" all my coins on a small regional crypto exchange platform.

Nhor1011

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin. Angry

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

I feel your frustration with bitcoin but it's not fault of bitcoin because the problem bitcoin is not really acceptable in your country. I think there is other way to cash out or exchange your bitcoin into your fiat money through international exchange. Don't hate bitcoin because one day it will become accepted anywhere.

acener

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin. Angry

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

Why not use other exchange? there are plenty of exchange that we could use does Kuwait ban other exchange as well like binance and other big exchange right now?
If not then why not use them to encash your Bitcoin or crypto when you need it in the future?
And if you really want to quit on Bitcoin and crypto for good I think the best thing to do to your ledger is to keep it as souvenir of being part of it and reminder of your mistake that you would never come back to it again.
And I hope that you could cover what you lost in crypto on other investment that you would make in the future good luck.

Sparrow96

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If you want to get enough profit, you should have patience. Without patience, you will lose again and again. Firstly, you have to train yourself to control yourself. Secondly, know about how Bitcoin works. Before entering any work, do self-research, learn other's experiences. Reading other's experiences can save your life. You should know how they overcome this situation, how they reacted.

Quote

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

Bitcoin and other cryptocurrencies are considered illegal in my country. Police arrested some people for using bitcoin. They did P2P trade. I use Bitcoin with this dangerous situation. I don't think this type of dangerous situation happens in Kuwait. I never do KYC. I always try to use exchanges which will not require KYC. Like you can consider FTX. If you want to use centralized exchange. You should better use DEX. Also, a life saving tips. You should not hodl cryptos in exchanges. Use your private wallet.

Quote

I wish I was never introduced to Bitcoin.

Sometimes, I also think about this. Because I also made tremendous lose. I can't read whales mind. At least they control Bitcoin Market.

Quote

Any ideas on what I should do with my Ledger Nano X now?

Consider donating me. Grin

supine

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There are lots of things that I regret but I think it is the reason what I am today so I wouldn't really wish that I had never knew it.
There are so many people who also feels the same way as you specially those who invested in the ATH or near the ATH price and hold their bags in believing that it would still bounce back,
But we don't know maybe someday those people who bought in those high price that still holds their BTC would someday gain profit from doing it and not giving up and selling their BTC at lower price.

Eureka_07

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

So unfortunate, does your funds from that exchange on your country had been given back to you?
You're one of few people that I encountered to have bad experience from investing on bitcoins.
As what I've understand from you, it's the lack of knowledge about trading and the unfortunate event (shutting of Kuwait's first and only crypto exchange) in which you are investing/trading.

You should had gathered information about bitcoin trading before you started investing into it.
Remember the principle, buy low & sell high. That's the only way you can get profit, otherwise a loss.

Better to use p2p exchanges rather than those centralized one, less fees but sometimes takes more time to complete a bitcoin trade. Sad to hear that the exchange has been shutdown by your government as assume.

Lucius

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Disappointment in the system that surrounds you is no excuse to give up Bitcoin, because it is exactly what came into being so that every man could be his own bank. Your problem is that you only look at things from the perspective of your country, which is obviously not crypto friendly - and that you invested in Bitcoin just to make money, although you say that you would wait 5 years if you knew the price would go up.

It is not wise to advise anyone what to do with their money, yet it should be a decision made by each individual. So if you think there’s no other way to be successful with BTC, you’ve expressed a desire to invest in stocks - if it’s only up to profit, does it matter how you make it happen?

shield132

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

I wish I was never introduced to Bitcoin. Angry

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

I amn't gonna tell you: oh no, you have to stick with bitcoin. No, what's wrong here is that people wrap bitcoin like a godsend gift and only talk you about it's pros and how rich you'll become if you invest money in it but no one tells you about the risk of easy reward and that risk is easy lose. If bitcoin isn't something that you can profit from and if exchanges and other circumstances are against you, then just ignore it. Not everyone trades with usd/euro or any other (crypto)currencies. You have to do the job where you can do your best.
Btw you can always use international exchanges, they may even offer better possibilities and terms.

If exchanges close in other parts of the world, then people will just stick with international ones or your old ones will move into other countries.

witcher_sense

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

~
After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?
~

Why should you hodl bitcoin? That is the question with basically no answer, because it is only up to you to decide whether you want to hold something or not. However, I can say that, more often than not, hodling doesn't imply cash outs, it means precisely opposite. If you want cash instead of bitcoin, you're simply not ready for a true hodling. Moreover, you are missing the point. Bitcoin is a peer-to-peer electronic cash system, which means we don't rely on third parties when dealing with it. Centralized exchanges are alien for peer-to-peer networks, they should not even exist, because what they do is distort people's understanding of what decentralized networks are. People using those exchanges wrongly believe now that in order to use a decentralized network they have to perfrom a KYC procedure first to enter and be able to transact. They mistakenly believe that bitcoin can't survive if not regulated properly. It is not necessary for bitcoin to be regulated. It is not necessary for bitcoin to be exchanged on centralized exchanges. To the contrary, it gives us freedom to decide for ourselves. Bitcoin was created to become money on a free market it enables us to opt-out from conventional wisdom.

rhomelmabini

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

Oh, good Lord, then digest it.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

Yeah you shouldn't HODL them especially if you need cash everyday but I think you misunderstood what HODLING is and the importance of personal money when you needed them. You should have plans in the first place on how much you're willing to risk, how much you can afford to lose as well as the emotions you're willing to subdue, this game are for the who have risky appetite. I don't think it will be closed that immediately, moreover we are just on infancy stage of this game.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I wish I was never introduced to Bitcoin. Angry

Sad but hope you move on that easily.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

Sell? But there's always risk on buying second hand hardware wallets.

arwin100

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I'm fed up with all this cryptocurrency thing.

First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.

First, second and further step is very hard for newbies but at least you learn a lesson from those past mistakes made why your balance burned and also can you state on which way did you lose your money did you trade it or invest on investment platforms/hyips around?

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.

Well that will be the end of your venture if you totally decide to quit by now maybe this cryptocurrency thing is not for you since you decide to quit easily.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

You can sell it to the users here provably there are people interested to buy that.

Jet Cash

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

I'd use it to store some Bitcoin.

It may be that you decide that enough is enough, and move to another country. Bitcoin would be a great help for you then. Alternatively, you could wait for the wind of change in your country. Some countries seem to change their ideas about Bitcoin almost as frequently as they change their policies on the Kung 'flu.

elisabetheva

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Quote from: Gotumoot on October 06, 2020, 12:29:59 AM

I would only stop on holding crypto if it is against my country law but if your problem is only the exchange then use other platform there are other ways to convert your crypto into cash.
If you really want to hold and buy crypto you would find a way to solve your problem but it seems you already had enough.
Regarding to your Ledger I think there is nothing that you could do with it just keep it I don't think people would buy a second hand crypto wallet unless they fully trust you.

what you say is something that can and should be a good and true guide. if indeed the government prohibits crypto with clear rules, it is appropriate that being a good citizen should not violate these rules. All rules are sanctioned even though the possibility of doing something that violates it is clear that many do, but it does not need to be followed because it will harm yourself.

All problems, of course, there will be ways that can be done if the op feels there is something important to be able to do wisely joining the forums in his country, of course it will be clearer what we will do and can be helped properly because each country has different rules.

Kakmakr

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You know you can take a holiday in a country where Bitcoin is accepted and you can exchange the bitcoins in that country .. right? You can also buy & sell bitcoins online (check this forum) ..if you still want to do that. (just use a reliable Escrow service)

Also, Bitcoin should be used as a currency and not as a Commodity.... so you can still buy loads of stuff online with bitcoins and then sell it in your country for a profit. (Even if you buy at a low price and then use it when the price is higher.. then you still make a profit) Wink

Centralized Exchanges should not stop you from using Bitcoin and also making a profit. Wink

NeuroticFish

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Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them?

You could have kept the investment. An investment is money you "afford to lose", which can also mean it's not necessarily something you can "withdraw" quick and easy.
One exchange is down, more will come sooner or later. You've missed the big picture.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?

You know that quite a number of banks got closed in history? And there are still plenty of banks, since new ones got opened. It's the same with Bitcoin exchanges too. As I said, you've missed the big picture.

Quote from: aceboy44 on October 05, 2020, 01:59:19 PM

Any ideas on what I should do with my Ledger Nano X now? Roll Eyes

Although it's solely your decision if you leave Bitcoin for good or not, I'd say you keep the Ledger Nano. The chance people will buy it from you is tiny (nobody can tell it's "clean" or you've changed it and you'll steal their money in the future) and you may buy again sometime in the future. (Never say never!).

Gotumoot

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I would only stop on holding crypto if it is against my country law but if your problem is only the exchange then use other platform there are other ways to convert your crypto into cash.
If you really want to hold and buy crypto you would find a way to solve your problem but it seems you already had enough.
Regarding to your Ledger I think there is nothing that you could do with it just keep it I don't think people would buy a second hand crypto wallet unless they fully trust you.

Topic: Enough is enough! Good bye Bitcoin! - page 7. (Read 1957 times)