Topic: How I heard about Bitcoin and my experience on it (Read 255 times)

Op, don't be angry because you missed a chance of becoming rich with Bitcoin investment in 2014, at that time you were not ready, and you didn't have any knowledge of Bitcoin you only bought Bitcoin because your friend asked you to do so. Lack of Bitcoin knowledge and understanding made you sell your Bitcoin at a lost

Now that you are back to Bitcoin make sure to get a clear understanding of Bitcoin so that you will not sell it again when there is a price drop in Bitcoin. This time of the year is one of the best opportunities to accumulate Bitcoin because Bitcoin price is low and Bitcoin halving is also near. I will suggest you use the DCA strategy to accumulate your Bitcoin so that you can be able to control the volatile nature of Bitcoin when there is a price drop in Bitcoin. Just know that you are not late in joining Bitcoin now.

Before investing, we should allocate funds for each need so that they do not interfere. We can calculate how many needs we must fulfill in a month and how much money we still have. That way, we will know how much money we can use to invest.

In investing, it is very important to know how much money we can afford so that we will not take money for other needs. And don't forget to make budget allocations for urgent matters so everything can run well. Most people don't have a plan for investing so they are confused about what needs they need to fulfill.

And @OP should have learned from his previous experience so that he can return to investing in Bitcoin better this time. He must decide how much money to invest and how long to run the investment. Don't panic and worry if the market has not fully recovered but continue with your investment plan. Later there will be a time for Bitcoin to gain a high increase and at that time, he will be able to get big profits.

In investing, of course we have experienced things that we never expected, of course this will make us choose to sell it even though the price at that time is not high, but in my opinion it would be better for us to invest, we have to leave money for our needs and needs that we cannot afford. we think because if we invest all the money we have, this will make it difficult if we have needs that we cannot foresee. I have also felt this way, but now I will improve my strategy in investing.

Well, there are times like that where we could have made it but didn't for some reason. Although, some things are not meant to be or meant to happen as we expected or didn't expected. I can relate the same as you when the price of Bitcoin reached its new all time high but didn't have any BTC at all because I needed money for important reason like daily needs and for emergencies. If I didn't experienced it before then I would have save my bitcoin on that day.

I understand the pain of losing such an amount in bitcoin in 2014, the $230 which is about 0.47BTC was a good amount of investment in Bitcoin then. Which would be around $12892.15 and in the current price now. If only you had enough patience or you had gotten some knowledge about Bitcoin investment, you would have been wealthier than your friends who knows.

But let me get something straight here. If your intention on getting back on bitcoin and joining this forum was because of how your friends' got wealthy, then you're getting it all wrong. You should have the mindset of getting to know what they know in Bitcoin and how they were able to strategies before they started profiting in Bitcoin. I bet you never asked them how they did it! You still have a lot to know buddy and I believe you will surely learn. Don't just let the get rich quick syndrome get into you unless you want to lose more if you invest without learning about Bitcoin. Focus more to learn and grow. Welcome to the forum buddy!

Unless something is popular with the masses, most people are not interested in it. Such schemes can be invested either by those who have more capital, or by those who take risk for profit in any scheme. You heard about Bitcoin at the right time, but because of your disinterest and lack of entrepreneurial mindset, you missed a great opportunity.

After buying in 2014, if you had held on instead of selling at a loss, you would have made a huge profit later on, because prices in the crypto currency market continue to fluctuate, Bitcoin is the only crypto currency that should never be sold at a loss. It is still good that your mind is positive about Bitcoin and you want to invest in Bitcoin again. Bitcoin price is in a very good position at present, and surely investing in Bitcoin here can give you a good profit in the coming bull season.

I know how it feels because I have experienced the same once. By once I mean I bought and sold bitcoin once but when I saw it recover I started accumulating.
The only mistake I did was to keep accumulating and selling during ATH and taking profits. I could have got some nice profits but we never know the future.
I am still holding and won't sell any of it before the next ATH. Taking profits is a skill and I am bad at it but it eventually turned out be a boon because the price grew so much in last few years.

Some people got the same trauma too but nevertheless able to conquer their fear of missing out. If only I was able to be knowledgeable during that time like yours, I would definitely kick off some time to keep it or become more aggressive than usual. Well its not always comes to that but we can always change that and believe once again. Anyway I like your conviction mate, keep it up. In bitcoin we trust!

I mean it wasn't really a thing back then. Most of the investors that got lucky back there surely had really gambled that time because at that time there was really no proof that Bitcoin or cryptocurrency could be something like an investment that could make you a profit since it is just a new thing most of the people would normally think that it is a big scam, at even this day probably there are still a lot of people that would think that way. Even though you probably do your research about it you wouldn't find a good reason to invest in cryptocurrency at that time because even to this day market price of cryptocurrency and Bitcoin just depends on supply and demand so it is all just speculation meaning the market price is just so volatile and we are not sure if that market is going to start as time passes. So after 10 years, it's not guaranteed that you are going to make a profit or is it still going to exist at the time right?

As long as you know what you are doing and you know that you are only investing a small percentage of your money you can easily invest in Bitcoin with no problem since you could just invest and forget about I, so you could easily wait until Bullrun or something like that.

What a sad experience because you lack knowledge and don't have anyone to guide you through on your bitcoin journey. This is what happens when you buy bitcoin at the wrong time and don't know that it is only when you invest in a long term that you will benefit from it. And when the price begin to drop below your entry point, one will panic and sell. OP, now that you are in the forum and you have start to understand how bitcoin works, it is better you buy now and don't wait till when you have major knowledge about bitcoin here, because there is no need you start wasting time. When you buy, you should invest in a long term and don't bother about the price movement but have a price target that when bitcoin reaches, you can sell and take profit. Only use money that you can afford to lose, or money that you don't need for other important purpose to buy bitcoin.

You should have written this comment below the comments that you quoted above and not separately, to avoid spamming the forum.

Thanks everyone for your concern and contributions. I believe its still a fresh start for me and I'm still on track, not minding when I came back onboard. The future will surely be brighter..

You are not the alone in this situation. If I had been in that time  I might made  the same like you. Nobody know that Bitcoin will revolutionized the world and attract big investors from whole world. You missed out very significant profit, but i hope you have learned well and now you will not panic if market downturn for sometime because you understand the profit of holding strongly.

Your story is great lesson for newbie who is not aware well of btc and they are dreaming to be rich in some months. Holding is best option for newbie and then if markets crashed then just to watch out, how it behave and should totally forget about wallet. One day our 230$ will convert into more than more than 10k$

What did you do in the 2017 and 2018 bull run. Joining in 2013 and 2014 but did nothing in 2017 and 2018, began to notice Bitcoin again in 2019 and 2020 but still did nothing. From my experience, I don't believe people who has ever invested in Bitcoin will need like about 8 to 9 years to touch their hands on Bitcoin again.

In 2013, it is more possibly to know about Bitcointalk forum because in the past, there are less Bitcoin communities and Facebook, Twitter are not like now. You did not know about Bitcointalk in 2013 and in 2023, when more people know Bitcoin from Twitter, Facebook, television, you surprisingly know about this forum.

In general, this topic is like another fiction that is less attractive with forum members and becomes useless to fish merit.

There are many like you have heard about it earlier but was not lucky or say have adequate knowledge about it like how it can be so profitable in the future so we can't do anything but have regret for it only. But best is to grab the opportunity if you believe in it now otherwise it would again be regret nothing else. The prices are at $28K now but don't think you need to buy full bitcoin just accumulate whatever you feel like and have nerves to hold for long term.

Yes, the best time to start accumulating sats was back in 2009; the second one is today.

I also heard about Bitcoin for the first time in 2013; although it looked very interesting to me, I had no money and a little debt from my studies, so my position couldn't be worse in order to invest. But it served me to join this forum in 2017, before the great bull run, so it is never too late.

If am to contrast and compare your story to that of op I will say that what has informed the decisions of op and that of yours not to sell yet is predicated on the amount of knowledge received.

 despite having  a loss haven bought at $33k and we had bitcoin price falling down to $16k thereabout this year yet you kept to the resolve of not selling but keep HODLing is akin to everything you have learnt from the forum which has built an indepth understanding in you about bitcoin. Op hurriedly sell out of fear and the lack of knowledge about what he had invested his money into at the time. This is why knowledge is important.

When you look at the price history, all you can think about is that if you had bought when it was very cheap, you would now be a multi-millionaire. But there are countless cases like the OP, who in that history sold at a loss. Indeed, the first time I heard about bitcoin I heard it linked to scams to buy drugs on the deep web, also about the Mt Gox scandal. So, at that time it was very easy to shit yourself in the face of a market downturn, to think that the price was going to 0 and sell to cut losses. Fortunately, it didn't happen to me, but unfortunately it did to the OP.

Now I would recommend him to stop focusing on the past and start accumulating bitcoin little by little, being aware that future returns are probably not going to be nearly as good as in the past.

I can't remember when I first heard about Bitcoin, but it seems like it's been quite a while and I'm not at all interested in Bitcoin. Before getting to know this forum, I was taught by a friend to hunt for airdrop prizes from the Telegram channel but I didn't get anything. A friend in the telegram group told me about this forum and my college friend also turned out to be an old member here. So I signed up and started reading a lot about bitcoin, but unfortunately my investment still lost because I bought bitcoin when it was $33k, but it doesn't matter because I still hold it, maybe just need to wait more time

Well, this forum is full of people who hold Bitcoin and tell each other that its going to the moon, because they want it to be true. This isn't very good for making objective investment decision, although I doubt that there's any place on the Internet where you can get one, because there's 3 types of views - that Bitcoin is the future, that Bitcoin is worthless, and the third - "balanced" or "neutral" view that maybe Bitcoin is good, or maybe its not. And none of those opinions are backed with solid data and theory, it's all just a belief.

There are many people who bought bitcoin earlier than you did and lost all their bitcoins to exchanges or scam wallets. Sometimes I read at old threads from 2012 and older just to get the feeling of how people perceived bitcoin in that time. It would shock you that a good number of early investors did not hodl to see bitcoin reach $60k in 2021. So don’t feel too bad about your experience, it’s your bitcoin story and you’re right to come back because it’s never too late to start investing in bitcoin.

Imagine you never sold your Bitcion back then and still held it till today's current value of Bitcoin, that's approximately over $10,000+ by today, because I just made a little research right now, and just made to understand that in 2014, the value of 1BTC was $338, which means $230 should have given you approximately over 0.7BTC or roughly 0.5BTC, which is still quite a big sum of money in today's value. So in all the same, I wish you all the best as you kick-start your journey afresh back again. It's never too late to make good profit off your Bitcoin investment, if only you could leave it as an asset for long term.

Your story is very depressing, OP how do you feel about seeing bitcoin peak at $69k in 2021? OP how much bitcoin did you buy? As far as I know in May 2014 Bitcoin price was around $400-500. Think you bought 0.5 (approx) Bitcoins? However OP if you could have held bitcoin for a long time several years you could have made a lot of profit. In 2021 Bitcoin price was $69k, you could have made a lot of profit. You were disappointed with the price drop in Bitcoin and sold. OP you are willing to buy bitcoins again. You can buy bitcoins now if you want, prices are very low now.  OP you need to be aware bitcoin price can go down you can't be disappointed. Hold the investment for a long time. Hold till 2025-26 and hopefully you will be able to gain a lot of profit.

Congratulations for your story OP .  every one has a story to tell about their experience with bitcoin at first engagement. At early stage of a new technology, there are always doubt about that innovation but only the few that believes in the course would stand firm to seeing the outcome of it all. Although if you had been patient enough then, you could have been smiling with your friends as they did hold till the bull run. Like they say, "patience is a virtue" It really pays to be patient enough to see to the end of a technology. I had similar experience too but I have learnt my lesson never to be in a haste to conclude or judge a book by its cover.

I firmly believe bitcoin is still at its early stage so its never too late to start again. The price is currently low and next year halving too would further give the price a boost. So you can buy as you can and never leave your coin in the care of a third party exchange.

Since you're not new to the forum and have been a member since May, it's not necessary to say welcome to Bitcointalk or the world of Bitcoin. I assume you already know a lot about Bitcoin and may have experienced reasons to question your past decisions. Although Bitcoin has faced some drawbacks due to its price instability, many of us remain optimistic and are eagerly awaiting the next market upswing. Many people missed their chance to invest in Bitcoin, but it's not too late to consider it now. The current price may be bearish, but this could change soon. So, consider seizing this opportunity while it lasts.

Your story is really a touching one, however, you can not change the past. You joined very early and obviously, you invested money that you could not afford to lose that was why you panicked and sold even at a loss.

Going forward, I hope you are doing some refining to your approach such that you only invest what will not make you unease. I suggest you learn about DCA so you can better handle the emotional aspect of investing.

Finally, I think it is not late now.... this is the best time to buy because there are several activities lined up for next year that might see Bitcoin experience som growth in price.

I heard about Bitcoin from a friend in the year 2013 when I just got admitted to college. I took  little interest in it, but I was unwilling to purchase it with my funds because it was not very popular then and I lacked much business mindset. I even got more discouraged owing to the fact that many ponzi schemes were present and I couldn't differentiate the bad from the good. To be honest, I  saw it as a liability, instead of an asset that it was. I later reluctantly purchased $230 worth of Bitcoin around May 2014 after much persuasion from my friend and seeing that the price was fast rising. The fall of 2015 shook me to my bones and I lost hope again because I lost so much funds. Depressed at the loss I've incurred and without much knowledge on HODLing my coins and the possibility of it experiencing an upward trend, I sold off all my coins, hated anything concerning crypto and swore never to get involved again. The bull run of 2019 -2020 happened under my watch, but I still kept my grudge which had then developed into fear that I will still loose my funds again. I have friends whom gained from the trend and became really wealthy while I was locked up in my pessimistic mindset. As I was introduced to this forum, I was able to see that Bitcoin held much more prospects then I ever thought and would ever believe. My convinctions are now positive and I'll be investing again. I wouldn't want to be left out for the third time. Bitcoin here I come!!!.