Topic: How do you feel when you look at your first Bitcoin wallet? - page 2. (Read 1130 times)

I feel a mixture of emotions when I look at my Bitcoin wallet. I feel lucky & happy that I was early enough to build a not unsubstantial stash. I feel glad that I was able to invest because the alternative places to store your wealth are not good. Maybe I feel slightly unsatisfied as even though I have a decent stash I should have more.

Your stories is what serves a lesson and aslo a motivation for those of us that didn't actually get that opportunity to have UpTo 1bitcoin in their wallet or even got the opportunity to be around during that period and am pretty sure that everyone is currently keen on their HODLing to actually see how the future unfolds, that's if their is more positivity as the growth and adoption of Bitcoin gets bigger and bigger by the day.

Sometimes I wonder if I hadn't found this forum and all its teaching about HODLing and accumulating of Bitcoin, especially the master lecturer @jayJuanGee, how would be with my Bitcoin today maybe, I would have probably traded it and lost it because of all the positive ads I do get on how trading is effective not knowing that it's a deadzone for anyone actually thinking of accumulating some Bitcoin anytime soon during different strategy like the DCA.

I am not trying to brag or anything like that, but I frequently make the claim that as long as you are choosing to invest an amount of money that is extra and that you are willing to ride your investment down to zero, then you should be able to ride out your investment moving against you, even if it seems to move against you for several years.. and sure if you keep buying at some points, you might start to question your conviction, especially if you keep buying, and even if you are buying a relatively small amount, the relatively small amounts still can add up.. even if it is ONLY $10 per week or some other similar kind of small amount. 

Of course, you can also choose between being aggressive and whimpy in terms of the amount that you are drawing from your discretionary income, so if you have an income that is between $400 and $1,500 per month with an average of around $900, yet your expenses are around $750 per month, then you can figure out ways to have an emergency fund that covers the gap and you can choose to be somewhat whimpy in your investment with maybe $10 per week, yet if you have a decent emergency fund in place that largely covers 3-6 months of your expenses (let's say that you have the whole 6 months covered, which would be $4,500 ($750*6), then you might feel that you are able to afford to be more aggressive, even $100 per week, but sure if there is that much variance in your income, you might figure out ways to adapt your DCA amount based on how much cash cushion that you have and even to have an amount that you invest into bitcoin no matter what, but another amount extra that would depend upon the size of your extra cash for that month, if any.


Even though I agree with part of your overall point that the longer that anyone had been investing into bitcoin, then the more likely that the investment would have had ended up paying off.. which yes, could be considered as a form of patience and/or a form of deferred gratification.

At the same time, I think that it is not very realistic to be trying to make modern day comparisons to the situation that was available close to the time that bitcoin was just finding it's price, and even if we start from a later date, such as early 2012, when bitcoin was at $4 per BTC, it still might not be realistic to be considering those kinds of prices as realistic entry prices for any normal and regular people because they would have had to have been in some kind of niche group, and sure they might have been merely lucky in that regard, but probably the various developments in 2012 and 2013 did bring bitcoin more and more to the attention of more regular people.

It also seems to me that with the passage of time, bitcoin's investment thesis continues to get stronger and stronger, so hopefully anyone with a 4-10 year or longer investment time horizon is able to figure out a way to build some kind of a bitcoin investment plan that seems to continue to have good chances of paying off in the future. .even though there are no guarantees  in regards to the paying off of a longer term investment plan.. and surely even some folks who screwed up in the past in regards to the way that they treated their bitcoin will still be able to have good chances of making up for their past errors by getting started accumulating BTC persistently, consistently and ongoingly until they reach targets that are acceptable to them and their situation.


That is not a very fair and/or accurate characterization of the Lazlo pizza situation, even though a lot of people characterize Lazlo's pizza situation in that kind of inaccurate way.

If bitcoin did not really have much if any price, then it could have had been replaced for similar amounts of money (such as 2 pizzas for 10k BTC), but yeah there have been various price spikes in bitcoin in which it no longer becomes possible to replace bitcoin for anything close to the amount that they had been acquired, so even someone who might have come to bitcoin 10 years ago like me, and then maybe accumulated bitcoin over several of the earlier years (and maybe made some mistakes along the way too), he still might have had been going into 2016 or 2017 with BTC costs of $500 per BTC, but then let's say for example, he had accumulated 300 BTC, but then he decides to spend 100 of his BTC in early 2017 at $1k each, and so he buys a house or a car or some various consumer goods that may or may not hold their value very well, and he is thinking that he doubled his income because he bought them for $50k and he sold them for $100k, and yeah maybe he might have even sold them in mid 2017 for $2k each which would have gotten him 4x, but then how is he ever going to be able to generate enough money to buy back those 100BTC, so sure he still has 200BTC, but he still might be in a worse position for having had sold them, yet at the same time does he have enough BTC?  It depends on the overall situation and if he continues to make those kinds of mistakes or not.

With Lazlo he was very early to mining and he even was very innovative with the early conversion from CPU to GPU, so he had accumulated a lot of bitcoin through his mining efforts, and he surely may have felt needs to spend (and/or redistribute) decent quantities of his BTC holdings.. ..and we do not know how many times Lazlo spent 10k BTC on pizzas.. or how many BTC that he has left?  Did he spend like a drunken sailor and does not have any BTC left, or maybe he had saved some of those BTC that he had mined?  By the way, I did a quick calculation of how many BTC were being mined per day in 2010, and that would have been 7,500 (144 x 50), and so if Lazlo was mining a lot of bitcoin, he may well might have been able to mine 10k bitcoin in a week or less...and recall that in bitcoin's first 4 years, 10.5 million (or half of the total supply) was mined, so even if Satoshi got around 1 million of the coins, there was another 9.5 million going to other miners, and surely some of the miners ended up spending their coins in a variety of ways. 

Unbelievable, just imagine someone who don’t have self control going through his old wallet and holding history and seeing how much rich he could have been what will be the person reaction.

Me I just consider what ever I have hold and spent on bitcoin in the past as past event I don’t allow my self look at those old wallets again as I might not like what I will see there it’s better for me not to look at it at all than to give my self another day full of think as to what I could have achieved with those holdings if I have hold little longer.

I feel you mate. If only I had saved all of my Bitcoins in the past for sure I am a millionaire right now and of course achieved the financial freedom we all are longing for a long time. But yeah that's life and I having no regrets why I spent it all before because without it we won't survive from crisis and other difficulties. My only problem that time was mismanagement in some of my funds but that serves as a lesson to me.

Staring at that first Bitcoin wallet can be a real punch to the gut, huh? We all get the "what if" flashbacks, wishing we were Scrooge McDuck swimming in digital gold. But dwelling on missed moonshots can be a recipe for bitterness, and frankly, time travel ain't an option.

I always believe that this is a lesson and also a new opportunity. A very good saying I once heard "The past is a teacher, not a bully". We learn from our stumbles, grow from our mistakes, and use that wisdom to build something even better. So keep your eyes on the prize, embrace the lessons learned, and watch out world, because this Bitcoin is about to make magic happen!

This is a true definition of patience , it might be hard sometimes but it's rewarding. BTC it's self should have been tagged patience   let's flash back to the days when btc was still 0.$  probably, though it might feel easy to acquire but amongst the investor then if there were alot of small investors (I believe everyone should be a small investor then) whom had patience till this very  moment then there could have been a lot of scarcity  and a crazy hike in the price of BTC but who knew this was going to happen.  Even some used it as a trade for pizza because they simply had no patience

I can't remember how happy I was when I saw my first bitcoin wallet. But now I am happy to see my bitcoin wallet because it has more than double the value of what it was when I first invested in bitcoin. Currently looking at the wallet makes me even more motivated to collect bitcoins. My wallet will usually allow me to mine, store, store and trade bitcoins. Also, I can feel happy that Bitcoin is a new venture that will mainly create opportunities for newbies. By being proactive and taking steps to invest in Bitcoin, we can create a future for ourselves.

I also believe that one of the most important considerations of the past is to figure out if there is something that can be learned from it in regards to your own management of your finances and/or your management of your knowledge and psychology and putting whatever might be your knowledge of your situation into action.

For sure each of us have made mistakes along the way, yet we hardly are going to know about our mistakes by merely assessing what the BTC price ended up doing as compared with what we thought that it might end up doing, because we are never really going to know the answer to those kinds of questions in advance, yet even if we have in perfect information we can consider the various directions that bitcoin might go and consider how extreme it could become in either direction, and then within reason attempt to prepare for either direction and the intensities.

From the start of my journey of investing into BTC, I had an investment thesis that involved ongoing accumulation of BTC, and sure if the price was going down then I was considering that it was good to buy the dip because I was lowering my investment cost, yet the BTC price kept dipping, and really it took a couple of years for my average cost per BTC to get back into profits and it even took more than 3 years for the first BTC that I bought to get back into profits and to stay there.

There were mistakes made at each of the stages, but even when I used to spend bitcoin or to send some bitcoin to others (as introductory gifts), I would frequently replace whatever I had spent, and I would also try to replace an extra amount, such as 5-10% more than I spent so that my BTC stash was continuing to grow in terms of number of BTC, but not necessarily in terms of its dollar value or it being in profits (at least not in the early years).

Even if I can see various places along the way that I made mistakes, I would also try to make corrections along the way too, and there were likely somethings that took me longer to correct than others, since each of us likely have certain kinds of habits, and maybe we can ONLY make changes within a certain number of changes at any given time.

Even when I see the number of bitcoin that I gave away, it is hard to have regrets about that, even when I see people who totally were not worthy to receive bitcoin, but then at the same time, it can be difficult to know whether my bitcoin interaction with them had maybe later caused them to have some knowledge and memory of bitcoin that might have had caused some of them to be more receptive to bitcoin at later dates (and some of them I cannot ask because I am no longer in contact - coming upon 7-9 years later.. if talking about some of the earlier stages in which I was giving away bitcoin was within 1-3 years after I first stared using bitcoin, but it was not really in my very first year of bitcoin.. and I did revert to some giving away of bitcoin later on in my bitcoin journey in the past couple of years.., but then even in the middle, sometimes I considered some of my bitcoin transactions to be kinds of charity (even though I got something out of it on my end), so maybe part of my point is that my interaction with bitcoin and even how I interact with others in regards to bitcoin has taken various changing forms through the years, even with some of the last year and a half or so with my trying to learn about using lightning network wallets... and for sure I do not claim to be a very technical person, but sometimes just having a bit more than 10 years into bitcoin does contribute to learning about various bitcoin-related technical things along the way.

Perhaps, we can we whatever we want because that is our money and besides, having Bitcoin isn't just we hold them forever but of course, for some reason, we can spend it. Yes, we never feel regrets and that is exactly what we should think.
As I checked all the transactions I've made and had a total of all incoming transactions, I couldn't imagine how big it was if never spent/withdrawn already. But just like you, I'd never use it for nonsense and useless stuff so I feel no regrets. Well, this is the truth, it comes in and it goes out, and only the transaction remains as remembrance.

My first Bitcoin wallet was an online wallet, blockchain.info, now known as blockchain.com. Whenever I logged in and saw the transaction history of the wallet, it brings back sad memories and regrets. It saddens me knowing that the Bitcoin I bought with few dollars has appreciated to a good value. If only one could see the future, things would have been different, I could have bought more and held. The worst thing is that I didn't keep the Bitcoin to myself or sell it, I used it in a pyramid scheme and I lost everything.

I have no regrets with what I have spent my bitcoin with, the stuff and experience that I have acquired thanks to bitcoin is such an appreciation for me so I do not have any regrets about my spendings, the people that I have met and the experience I have shared with them is something I will be grateful. Money can always be earned and I can always buy bitcoin so I have no worries. In fact I am happy because all the bitcoins I have sold, I can still remember where I have spent it. I guess I am living more to what Satoshi envisioned on how to use bitcoin more than anyone but that is just me.

it cannot be helped that mistakes are made as beginners thanks for sharing because it’s also important to know that investing is something we all should be careful with

while it might be nostalgic to look back, it’ll be nice to know that some of the old investors we see now have also made mistakes this is not to encourage mistakes but rather to not lose so much hope in times of bad situations and learn from such mistakes

I came late to the Bitcoin join but the truth of it is that I was told to keep hodling while expecting a bull-run after some bullish runs which I was much impressed because I could make cool income in the Bitcoin marketing industry without pulling a muscle and not personal skills was required and there was no marketing competitions aside the shitcoins that has no influences in the crytop space.

But at my learning about some historical charts about Bitcoin where the price goes UPs and DOWNs, DOWNs and UPs, I wasn't confident enough to stay longer while the DOWNs (depreciation) comes and I felt trading strategies such as pulling out your Bitcoin from the trading wallet and get it protected with the fiat was the best trading strategies so as to boycott the deflation value which made me sold out my Bitcoin and was happy about atleast I made up to 4% of income and never loosed in the trades.
It is really not Worth recalling back the hands of time where I can tell you all that their came the bull awaited running in about some hours after I sold out.
I regretted and needed to reinvest it again at that moment then I realized that I was on the wrong thought of it.

This has really thought me experience lessions to my patients and has also enhance my faith and reliability on Bitcoin.

While dwelling on past mistakes can be disheartening, it is crucial to acknowledge and learn from them. The missed opportunities to accumulate Bitcoin in the past may serve as a source of regret, but it is essential to channel this emotion into positive action.

Rather than fixating on what could have been, focus on the present and the opportunities that lie ahead. Bitcoin remains a valuable asset with the potential for significant growth. By seizing the opportunity to accumulate Bitcoin now, you can transform your past regrets into a catalyst for future success.

Instead of allowing past mistakes to paralyze your progress, use them as a powerful motivator to make informed decisions today. Embrace the lessons learned and channel them into a proactive approach to wealth accumulation.

Who else could share a deep/painful experience when it comes to first btc or previous transaction(s) wallet.

In my case, i cannot figure out my first wallet but, i do remember one specific wallet where i was unable to log-in to transfer or use the available coins. I forgot the passphrase when my asus laptop was faulty. So, i had to switch to a smatphone.

All my data's were not properly backup so, i lost access to paraphrase,pw...

The transfer from my localbitcoin to one of my blockchain wallet is still lying in that wallet.

During btc boom, i literally wake every morning trying to recover coin without success.

Note: now, i know there are lot of tools for performing such operation now but, i don't think its what the stress now.

**Just to note the good and bad side of btc back in the early days.


Regards

I think we all have felt such things to be honest, but that's part of making us realize the importance of it in the future, even me at first I didn't care if I spent the bitcoin I had the first time I had I have it in my own wallet.

And until now I'm still like that because I'm not a rich person to accumulate Bitcoin, but I'm doing other dca as alternatives to bitcoin and those are the other cryptocurrencies that I think can also give me profit in the upcoming bull run or before the halving comes here.

Yep, it did really make out that kind of depression and huge regret when i do tend to look and check out with my first Bitcoin wallet on which seeing those volumes in regarding inbound and outbound
transactions or simply with the overall volume then it is really giving out that kind of huge regret that you would be able to feel on point. You would be mainly have those what if's into your mind
and telling that if you have just able to hold up for too long then you might be millionaire now and you have already bought all the things that you do want now.

I made up my own big house and bought some luxury cars on which these are the primary things that comes out into my mind but well past is past and there's
no way on turning back. This is why it would be not ideal that you do keep on looking back specially into these things on which considering that
it would be giving out that kind of stress on which it would really be disrupting with your current or recent investment plans. So better move on and do things on which you do
seem that it is right atm.

Each of us have similar story like you op. I start using bitcoin from 2016. I worked on a app and received some dollar in Bitcoin as reward, after that I started investing with Bitcoin while it was 200-220$ per Bitcoin and i had around 7-8 Bitcoin which i made from trading and investment. Sometimes i feel regret as if i could have knowledge about btc but here is game! Future is unpredictable, most of us here didn't imagine Bitcoin could cross 67k$ ath but i think it is better to think about future. How to use those opportunities which will come in upcoming days

Yes, the only thing you can feel is guilt for accessing your old wallet. It is indeed no reason doing it, seeing the current value of the old holdings will not make any difference as they no longer in the wallet. No regrets should be feel, even after selling it, it's probably used in your needs.

Aside from what you said, the reason why we invest in because to make money in our investment. If you decided to sell it in the past because you make a profit, that's enough reason not to regret your action. Better thing to do is to move forward, invest as much as we can and see where the price of bitcoin can get.