Topic: How I Missed Out of a 10 Year Bitcoin Investment Plan - page 6. (Read 1432 times)

The amount was too much for something completely new to everyone at that time, $50k for a virtual investment like you said would probably appear insane to anyone who would hear of it back in 2011, I don't think I would have risk such amount for something am hearing for the first time as well,
You followed your instinct and probably avoid falling into a trap, since the offer triggered some curiosity in you perhaps after the offer you would have invested your $1500 directly, that would have still be a lot better as well, it is never too late to buy btc only that the price is way higher now compare to 10 years back.
Between I have my set target to sell any crypto I own, I don't believe holding forever is the best approach (just my opinion)

To simply continue to accumulate Bitcoin.

Your story is reminiscent of the person who could have bought a winning lottery ticket but didn't, or changed the combination at the last minute. Fortunately, in the future I won't have stories to tell like yours.


That's what happens with an asset that has given such a return as Bitcoin. There were many people who knew about Bitcoin when it was worth very little, who had the opportunity to buy and didn't, or bought and for some reason or another sold, and now think about how much of a multi-millionaire they would have been if they hadn't done so.

I think that better than regretting the past is to look to the future and not make the same mistake. The best day to buy Bitcoin is today. It still has a lot of profitability left to give.

First and foremost, your experience is not an isolated case. The history of Bitcoin is replete with regrets and missed or wasted opportunities. Even Bitcoin OGs who came very early, who's attracted to the technology itself rather than the price, had their fair share of wasted or missed opportunities as well. How much Bitcoin did Hal have in his final years?

Anyway, as for me, I don't have a specific time frame for me to finally let go of my Bitcoin. Time might come I don't even have to convert them to fiat. If I have to, I know it will be a perfect time to do it regardless of the price.

In life, there are always regrets, so don't think too much if we miss the opportunity to become a millionaire. Because as long as we are alive,
other opportunities are always open, so we must learn from our experiences in the crypto world. The price of Bitcoin in the next 10 years will definitely
be more expensive, so instead of dwelling on the events that have already happened, we better move on and focus on planning the best for the future.
So as long as we try and don't give up, we can definitely get another chance to become a millionaire, therefore always think positive is important.
I also started to collect some coins that I considered potential right now, I will be holding for the next few years, I believe I can get the opportunity
to make a big profit.

This can be a story for everyone who started early, if i were to hold the coins i had which will be over thousand Bitcoin, i will be setting my life for good, but i sold my profit and had a great time in the mean time traveled the world and had a great time and even though i do hold majority of the coins as savings, i too lost the opportunity to make a much bigger profit like you claim .

I Do Not Complain From Here Onwards.
You think Bitcoin was the only opportunity I had to invest at that time, no! There were several but you just think  about Bitcoin, anyway, maybe the reason not to invest was the right one, it was not mistake to put money to the big "thing" bitcoin, the mistake was not putting "something" that is the real error $ 1000, $ 2000 until only $ 500 it would be a great investment.

See you in 10 years, you will tell us your new experience.

Honestly, his approach was bad, speculating about how Bitcoin will reach from $1 to $100,000 in 10 years, that's just a bad approach, he could've at least tried to explain how Bitcoin is and how big it's going to be because of how technology evolves, making people want to invest online instead of investing in banks. And that really is a missed opportunity, even I would have deep regrets and up until now I do, I could have bought a lot with the profit I'll gain for investing long-term.

You just made the right choice to ignore his offer since you don't know him and you don't understand how Bitcoin works yet and I bet he would just run away your money and didn't bother to contact you even after 10 years. That's what scammers do so you are still lucky you didn't fall for his trap because we all know that you can just buy Bitcoin by yourself without the help of the others if you just do your own research you would be one of the millionaire today.

But not every early adopters managed to hodl their Bitcoin until today since most of them sold it early because they were afraid that their investment might gone for good with an unknown digital asset. Lucky for those guys who have managed to hodl the rest of their Bitcoin until today.

Putting to that situation, I can't directly make a decision right away. To invest in a thing that we never know nor have deep knowledge about it is risky and of course, we don't want to lose our money but rather to have assurance.

I can't say that you were right to decline the offer but that was your first meeting and that you need to be careful, that should a thing to do. Maybe, if that person comes back to you and brings some proof, that really something it drives to accept the deal. But that is something crazy and in fact, only a few people had thought that Bitcoin will become valuable this time.

It might be regretting because you can see the price of Bitcoin is growing but what if it won't, that you lose your money as well.

One thing that caught my attentions was, the person offering him was asking for $50k or nothing, and that's big amount of money. So I have the feeling that person was about to scam you. Why $50k, he knew you were willing to risk $1500 but he was asking a lot. So yes, don't regret your action that day, because it maybe was a blessing in disguise.

@OP, do you know by any chance what happened to this person? Is he still in crypto?

And also, you can always look forward and not backward. You can still invest on this market if you truly believe there is a future in this market.

What an interesting story! Feel sorry that you haven’t believed in BTC at that time. Only imagine, you had a perfect possibility and missed it. Your friend didn’t want to take 1500$ you offered him, but you liked the idea, so in case you’ve invested even those 1500$ in BTC by yourself, you would have already became a multi-millionaire. Just compare, I get known with BTC at the end of 2016 year when it was 800$ and I didn’t believe in it at all. BTC looked for me like something unreal and fantastic that will definitely scam because (I thought) no one digital code can’t cost 800$. I didn’t believe even when it reached 4000$ and continue growing more. I was always waiting when it fall down and die, but that didn’t happen. How stupid I was those days... I also missed my moment and now I get only tiny crumbs.

There are greater fools than you.

I am a bigger idiot because I had excellent background to understand bitcoin myself. But bitcoin showed me I am an idiot. It made me humble that way.

I came across bitcoin around 2011-2012 in an emerging financial technology forum that is defunct today. Made a note to myself to read, research and understand the topic. However, never got the time and got carried away with job, family, home, sports, etc. Golden opportunity lost to mine with CPU, GPU and FPGA.

I again got some time from professional life in 2016. This time I finally read Satoshi's paper and understood what it is. Decided to mine. Researched the technical options. Found this forum, coinmarketcap, coinwarz, exchanges. Downloaded the softwares for Bitcoin, Ethereum and other alt coins. But again made a wrong decision. It was the time of S7 and R4. Somehow I decided to go more heavily on GPU rigs. Built several GPU rigs. Then again got busy with the job and did not expand the operation. Did not replenish the GPUs when they died. Since it was challenging for me to handle life and the GPU farm I tried to consolidate by selling smaller gpus to buy larger GPUs to reduce complexity another wrong decision. This way for couple of extended period I was caught on the supply chain hick up of the GPU market when I have sold my existing GPUs and could not replenish the existing rigs because none are available or I was not willing to buy at that price. This Happened for sometime during 2016 holidays to summer of 2017. Since I was not doing this with dedication, there were many extended periods when my rigs were empty. During 2018 crypto winter finally I was able to replenish all my rigs. The people who were consistently after all 2nd hand gpu during this period made a lot of money in 2019 and 2020 and if the GPUs are alive they are making even now. Unfortunately about 50% of my GPUs died by 2020. Few were under warranty but most died just after warranty. So i am watching the best time ever to mine with GPUs passing by while 50% of my rigs are empty. I never upgraded much Asics beyond s9 regularly.

Only one thing positive I was doing is never selling any crypto that I mined. There also I got bombed by some smaller exchanges closing. But at least with whatever hobby level capacity I had I kept mining regardless of price or profitability. The other positive is my son got an excellent understanding of crypto, probability, economics, market, profitability, credit, leverage, negotiation and building computers.          

I am a failure in crypto largely because I failed to recognize the opportunity and focused on my day job, stock trading and kept my mining at the hobby level. If I embraced mining fulltime with all my money and credit then people would be interviewing me by now. Probably should have replenished mining capacity when they died also on a regular basis rather than waiting for the right moment and getting caught on work or supply chain problem.

I don't have any regrets about it. It could have been a scam as many people have pointed out. I was just sharing the encounter, and imagining what would have become if it were to become a reality.

That's another good point. Who on earth would have held Bitcoin from then till now? Maybe the agreement not to sell till 10yrs would be the hedge.

Regret always come late and you are one of many others who told us today. If you have time to buy that day, I bet you won't be able to stop yourself from selling bitcoin for $100 or maybe you are very lucky only if you forget your wallet for years after the purchase. After all, there have been enough incident where bitcoin users have been scammed (including exchange hacks) since then and you don't seem to want to talk about it. I will never regret it in my life because in fact you and I and other people could still buy bitcoin when it was under $10K last year and make a spread profit of $60K per coin.

Of course, many other forum users besides you feel the same way simply because they missed an opportunity for various reasons. But I'm sure if you keep remembering it it will never be good for your mental health. I barely slept for onenight just because I sold my investment asset for $150 per token in the past which is currently at $4.4K. Since I realized it wasn't a mistake, I forgot about it from then on.

Probably that guy you met by chance is a scammer who knows about bitcoin that time, but I admire his vision about bitcoin on its early days and his courage to invest in 10 years on that time.
But 50k for initial investment from unknown asset told by a stranger will really scare you off actually, but if you keep updated of bitcoin even after 2-3 years I guess you will be moved and take part somewhere in 2013 - 2014 which will give you lots of profit if you keep holding till now.

Aside from the math you made, there are bitcoin forks where you can get profit as well such as BCH and BSV multiplied to another 50k will be another couple of millions.

A lot of people here had an encounter similar to yours regarding Bitcoin but
as @BlackHatCoiner posted it was easy to be skeptical in the early days because
Bitcoin was revolutionary (still is actually!)

@Dripstoil what ever happened to that other oerson who approached you back then?

Have you thought what are the odds that he would have taken your 50 grands, never contacted you again and the condition about not selling for 10 years was there to discourage you from filing a complaint. Scammers often use legitimate investments as a legend for their scam, so from my point of view you most likely dodged a bullet. Not only you would have lost those money, you could have easily got discouraged from participating in crypto market in the future.

When you missed your opportunity, you don't need to regret for the profit you have Miss for 10 years than to improve in your strategies to recover all that you have loss for the pass. Now that the price of bitcoin is about to increase higher, it will be favourable to those investors who are well prepared for this great opportunity that is about to land in the market.
If you missed the first opportunity because of lack of preparation and research failure. This second opportunity is for those that have the knowledge and experience about this season of profits making.

Regret will always be there, but I think it would be better if it was used as an experience.
forget what happened in the past and make it a valuable experience.
otherwise it is never too late to get into crypto and now you can give it a try and make a decision whether to do it or not.
because if you can't escape from the past it will only add to your regret when btc rises to a higher direction.
I think you can try now even though it is now quite high and almost reached its ath. you can try it and wait for the next few years, or maybe you can wait for fud or indeed a correction and wait for btc to go down if indeed it will be there again this year
make your choice from now on instead of you lamenting the past that can't be changed

Well we are all have are share stories about bitcoin in money and we all have regrets about not believing in it earlier, i for one back in 2011 was just in high school and i was always looking for a way to make money from the internet, and one day there was a report in the TV news about a guy using 4 computers to mine bitcoin and make profit from it, the idea intrigued me and i wanted to know more about it, but i didn't have neither the knowledge or the patience and it seemed way to complicated for me so i let go of the idea and moved on with life until five years later when a friend mentioned that he is earning money from it and that is when i know that i missed my chance to make a fortune if i had kept with it, but now i am trying to make up for that mistake by earning and holding bitcoin however i can.