Topic: Have you lost btc at some point of the time ? What is your story - page 2. (Read 838 times)

It's funny this came up as a topic but then, it's important to share your story, it would serve as a guide to a large extent and with the minions of complaints and scam related topics on our boards, I really expect series of responses from a lot of victims. In my case, I haven't lost though and hope not to. At least, not to these scammers or ponzi's and there schemes. That's probably because, I've kept a believe I've got a lot to learn about taking risk and risk management. Investing is not a problem but, investing on the right platform and being able to quantify the return that suits your investment is. Aiming too low is kind of unsatisfactory but aiming too high might get scammed.

I know about bitcoin and other cryptocurrencies 11 months ago, it was a great achievement for me, all the money I have ever made in my life are from cryptocurrencies. 100% of the money are made from bitcoin businesses. But, during the money making process, I made few mistakes too and this made me lose some amount of money (cryptocurrencies).

The first mistake I made was when I traded bitcoin for a shitcoin on an exchange, promising 10% daily profit, not knowing it was a scam. I remembered I invested $42 on the coins, I invested it for a month. After a month, I lost and cash out $18 as the whole total. This was a big loss on my side.

The second mistake was still on another exchange, I bought a coin at $50, the price of the coin later falled more than 12x. The coin was later delisted on the exchange.

My third mistake was when I wanted to buy a shitcoin on an exchange, Instead to have used tether, doge or low value coin to have traded it, I used bitcoin, my $50 worth of bitcoin turned to less than $0.005 worth of bitcoin immediately after the trading.

The forth scam would have been from bitcoin generator scam, it would have actually be the first scam, I just started to know about cryptocurrencies that time, 11 months ago. I registered on one pay-to-click site to earn around 8 satoshi per each click, directing me to another site per each click, I was later directed to a bitcoin generator site. In less than 30 seconds, the site displayed it is mining bitcoin for me, it later displayed 0.005 btc have been mined, that I should pay 0.002 btc to a certain given bitcoin address. But thank God, I have no money nor bitcoin at the time. But, if I have bitcoin, I would have fallen for the scam.

I still have many other scam experiences but these are the ones I remembered.

I lost my bitcoin that I invested using my school allowance to a person I thought as a mentor and a brother to me in this bitcoin community. Even though it is just a small quantity of bitcoin, still, that money came from my parents in which I managed to save for the sake of slowly accumulating in the long run.

[1] Re: Loan Default - theyoungmillionaire u=1180530
[2] Re: Loan Default - theyoungmillionaire u=1180530

This, however, affects other people in this community due to carelessness and selfishness of TYM (theyoungmillionaire) 

I lost my bitcoin because I invest some in the HYIP website.
I don't know much about HYIP, and I send some amount to that site because I think I can double my bitcoin quickly.
But that is just a dream because the next day, the website can not be accessed, and nothing I can do in my account.
Besides getting lost in HYIP sites, I also lose the money in a fake "cloud mining," and I only think about how much bitcoin I will get in some months later.
It's a sad story, but that is an important lesson for me because I am trying to check and research more to find the truth after that.

My story is simple - I've lost some amount of bitcoins due to being new and lack of knowledge. Now I'm experienced with "not your key, not your bitcoins". My story is described here. In short - I did not know how bitcoin transaction fees are calculated and about input/output. Also online wallet "helped" me with it with their weird and misleading UI.

Until people just hold Bitcoins, they dont face any losses (except price loss), when they start to sell them or transfer - there they might face some consequences.

Sometime in 2016 I deposited 0.01 BTC into a "cloud mining" website knowing fully that it was very very likely to be a scam. Why did I deposit 0.01 BTC to that site?

1. I had literally ZERO responsibilities in 2016; I could go crazy with my money and I wouldn't be affected much in the short-term.
2. For shits and giggles.
3. That 0.01 BTC was like $10 back then lol. (though now the 0.01 BTC is worth approximately $100 so I regret it quite slightly)

Mine was due to negligence I lost my my password and  id that I created in blockchain.com I have $20 worth of Bitcoin price of the coin back then I'm trying to retrieve until now but so far no luck I guess it's lost forever, I made sure now that the private keys, seeds and passwords are all protected in a place that nobody can snoop.

Is cloud mining even a thing today? I can't even imagine a legitimate cloud mining project without it being some kind of ponzi scheme.

Invest in cloud mining is bad because most of them are scam cloud mining. Investors will lose BTC to pay for service fee and BTC that they should receive from mining.

▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁

MLM is favorite tool of scammers. MLM – a dangerous marketing strategy and the classic and most famous example is Bitconnect.

Probably the biggest loss I have personally experienced is on various shitcoins. For a while, I invested in anything and everything without prior analysis.
I know better now... I hope. 


Yeah, I've heard that story. LOL

Let me tell you a story about a boat, an iceberg, and a written private key...

These don’t fall under the category of the thread’s heading (namely about losing BTC), but you can see these types of investments as a loss of opportunity for having gained Bitcoin. I more or less consider myself sound, and rather prudent where I place my savings. Nevertheless, I did succumb to the ICO hype, and placed some bets on all the wrong places (as if there were many ICOs that weren’t at the time). What didn’t turn out to be a worthless token, turned out to be a quick exit scam.

Regardless of all that you read on each ICO, the aftermaths goes to show that things moved too fast, reviews were shallow in investigation and overly hyped (and likely paid for), and one is certainly not as lectured as one would have thought in scrutinizing the prospects …

Sadly I lost my first bought BTC because of transaction fees, it was more than $10 fee at that moment, and I only bought $20 IIRC
It was the worst day to get introduced to Bitcoin.

Perhaps this scenario should be mentioned on the OP because probably in the peak of bull-run, many newbies lost their first bought BTC because of absurd fees.

I'm one of those victims of fake exchanges. This was advertised on twitter. I saw it that we can buy a coin to that exchange for only 1 satoshi each. And soon we will be able to sell it on an exchange for a way higher price, particularly with a base price of an ICO of 100 satoshis. So, I tried it, just used invested only 25,000 satoshis because I am just trying it and I am afraid of getting scam for investing huge amount of money. So I bought all of  those 25k sats, waited for days, weeks, and monhts... but then one time I saw that the balance was gone because the coin was delisted on that "fake echange". The  coin wasn't even listed on other exchanges.
I used those 25k sats to buy waves, send those waves to the exchange to be able to buy those ICO coin.
That's when I lost my small investment, but this become a lesson.

Coin name : YGold
Where I bought the coins:  waves.exchange
Exchange that they said where Ygold will be listed soon: Yobit.net

Luckily I haven't lost my bitcoin to any of your listed ways but that doesn't mean I haven't lost bitcoin entirely. Infact any enthusiast currently in the space at one point or another have lost Bitcoin, the most common has to be via trading. Most time we trader make profit in USD per se but actually are losing our sats. Which means it would had been more profitable/idea to just hold our bitcoin and make that profit without risking anything as the moment you send your coin to a exchange (especially centralized ones) you risk getting screwed.


As for the other means that involves clear scam, that I haven't fallen victim doesn't mean I'm immune but with few precautions you can keep your funds safe. Avoid any free money event like airdrop, giveaways etc and you will reduce the success rate of getting scammed by those scammers using that means and if you must participate get the link via an official social media handle or website.

Typically, when you make the security of your funds your number priority, you'll be very vigilant that this cheap scams would hardly take advantage of your ignorance.

anybody who has ever done any trading on centralized exchanges has already lost money to these exchanges scamming them. you have to be super lucky to have used them and not lost anything ever.
i have lost coins in many exchange scams but always small amounts: c-cex, cryptopia, bter btc-e and yobit are small exchanges that i've lost coins on. and the biggest one was bittrex where they scammed us by mass closing accounts overnight and stealing any balance we had there.

Right now I didn't experience having trouble with my bitcoin and another kind of transaction-related on this coin because I made all of the transactions safer and avoid getting into a platform that is not secured and not will direct to my wallet one of the examples is mixers.

But I lose some ripple or xrp because I try to make a deposit into an exchange with the use of other exchange I just want to transfer my funds and the cause is they hold my transaction and brings back the funds again.

lucky I have never lost my Bitcoin because fraud...
since the beginning, I only used Blockchain.com and Electrum as wallets to store Bitcoin and I have always been careful about opening sites that lead to fraud, my advice, don't be easily tempted by the sweet promises offered by scammers.

Well, most of us must have our own share of bitter victim stories.

However, I'd like to believe that I am not as careless as other people to have sent BTC to a wrong address or logged in to a phishing site or downloaded and deposited funds to a fake wallet. I was a victim of neither of them.

But I was an unfortunate victim of investment scams, not just once or twice but thrice. Well, I was in a hurry to make money and experience a better life. Little did I know that it was this same desire that would burn my hard-earned money. It's sad, but greed must be one weakness of a man like me.

The same greed was the reason why I've made losses in trading and altcoin investments.

But I've learned my lessons of course, which is the most important point.

When I was still new on crypto. I am vividly looking for a cool sideline online, I cant say I lose bitcoin but I wasted time on some crypto giveaway that isnt for real. There is a post Ive saw last week about that kind of scheme where you need to do captcha and complete a 40 referrals before getting rewards but to know its just a trick ath the end even not completed it. Totally wasted my time at all.

Most of my bitcoin loses came from investment. Before I was too scared to put up money on altcoin trading but Im starting to grasp the way to earn step by step.