I recovered my wallet from 2014 and saw how close I was to being a millionaire

mynonce

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Quote from: mynonce on January 01, 2022, 09:08:07 PM

Year 2030:

Most of the guys who are active here from 2020-21 would tell you similar stories. From my part, I first invested in Bitcoin in 2021. Back then I had purchased BTC at $60,000 per coin (a few months later, the rates dropped to $40,000 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $1 million or even $10 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2021 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Thanks to Sithara007

Typo

Quote

Year 2030:

Most of the guys who are active here from 2020-21 would tell you similar stories. From my part, I first invested in Bitcoin in 2021. Back then I had purchased BTC at $60,000 per coin (a few months later, the rates dropped to $30,000 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $1 million or even $10 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2021 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Thanks to Sithara007

The message is still valid.

ChiBitCTy

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Quote from: Obito on December 25, 2021, 11:42:27 PM

You didn't know that bitcoin would go this far, it's not good torturing yourself over what's already been done. Also, it's not too late to be a millionaire, bitcoin still has a long way to go so you can still get in and hodl for a really long time and wait for to grow exponentially over the years.

This is exactly the way to look at things in my opinion as well. When I first found bitcoin it was around $200 or less. When I first bought in to bitcoin, it was something like $225. If I look back at all of the bitcoin I spent over years, had I held it all then I would likely be a millionaire. But that's really not the way to look at it. First off bitcoin is a currency, so it's meant to used/spent. Secondly as a financial advisor I am ultra aware of the importance of diversification. Also, I have bills to pay and so do others.

These things need to be kept in mind!

Fortify

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Quote from: dubst4r on December 25, 2021, 11:06:33 PM

A lesson that I learned here is never sell

That's a pretty poor lesson that definitely does not apply universally to all investment situations. Going by such vague and blanket statements is going to set you up for failure, just accept that you did some Bitcoin trading in the past and probably still made some money from it. Be happy with what you've got or you'll just end up doing more damage to yourself psychologically in the long run. It could be much worse, many people have invested in altcoins or stocks that have crumbled in value in the last year, I get the feeling that you probably held your initial value at a minimum. You should always be re-evaluating your investments but nobody knew the skyrocket direction Bitcoin would take.

Oilacris

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Quote from: qwertyup23 on January 06, 2022, 01:09:03 PM

I somehow/relatively understand what you are going through, OP.

Back in 2017 when I first started my journey in this forum, I remember earning 0.005 BTC/weekly (roughly ~$5) from participating into campaign signatures. I mostly cashed out my BTCs every time I earn around $20 since I had to purchase some books for my education. Looking back and upon checking my wallet address, I noticed that if I did not sell all of my BTCs that I earned, I could have had ~$35,000 on my pocket right now which is definitely game-changing for someone who lives in a third-world country.

While your losses are far greater than what I just shared, still, the lesson is definitely to HODL for long-term gains.

I have more than those amounts if we do talk about earning from campaigns which i had been doing this for years which if we do make out some calculation or looking back then we would
really able to say that if we do able to hold those coins then we might really have that big amounts we do have in our pocket at the moment considering on how big the value of bitcoin
did able to achieve then we could really say into our minds that we should have held off but well on the time we are earning those times then we do have different
priorities which is normal for us to cash out on any coins that we do earn into those times.

qwertyup23

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I somehow/relatively understand what you are going through, OP.

Back in 2017 when I first started my journey in this forum, I remember earning 0.005 BTC/weekly (roughly ~$5) from participating into campaign signatures. I mostly cashed out my BTCs every time I earn around $20 since I had to purchase some books for my education. Looking back and upon checking my wallet address, I noticed that if I did not sell all of my BTCs that I earned, I could have had ~$35,000 on my pocket right now which is definitely game-changing for someone who lives in a third-world country.

While your losses are far greater than what I just shared, still, the lesson is definitely to HODL for long-term gains.

wxa7115

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Bitcoin is GOD

Quote from: Sithara007 on January 01, 2022, 09:00:49 PM

Most of the guys who are active here from 2013-14 would tell you similar stories. From my part, I first invested in Bitcoin in 2014. Back then I had purchased BTC at $600 per coin (a few months later, the rates dropped to $220 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $100K or even $1 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2014 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

What happens is that except for a few visionaries and some people that were super bullish about bitcoin the current scenario was unthinkable back then, for example when the ATH was around 1k many people were doubtful we will ever see it again, and when bitcoin first reached 2k many people sold their coins thinking that a bear market was coming and instead we got close to 20k, 10 times their predicted price.

So the truth is that bitcoin has exceeded our expectations, which is why even if a lot of people think its price is too expensive already they are wrong, the potential of bitcoin is still massive and it is important to keep accumulating as much as you can.

MIner1448

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Quote from: IIrik11 on December 25, 2021, 11:17:42 PM

i feel bad knowing that i was late.

but this must feel even worse.

knowing u had such big amounts and then u sold 'em all.

I didn’t have bitcoin in the days of its launch with a great price, but I also regret that I didn’t buy it in those days, now I wouldn’t work for my uncle, but would sail on my yacht somewhere in the ocean and didn’t care about anything ..

virasog

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Quote from: dubst4r on December 25, 2021, 11:06:33 PM

A lesson that I learned here is never sell

The question here is why did you sell? You must have paid some, bought something online or converted to fiat to fulfill your needs. That's normal and it is not possible that you do not sell ever. You can only save that crypto/money which you do not require in daily life and you have fiat money to meet your needs.
If you sold bitcoin, thinking this is the peak and it is better to convert in fiat, then for sure you did a big mistake.

kotajikikox

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Most of us did mate, I myself did same disposing of my coins wayback , i even sell my Bitcoin and the next day it grows almost double the value so i can feel your frustration and bitterness.
but remember that we are selling because of our need in funding either for expenses or for re buying another coins.
so never feel that when you have used the funds in right manner.
what if you sell those bitcoin before and bought other coins like Ethereum or some very cheap coin those days ?
and now seeing them multiple the value ? don't you think you will be happy more than this post?

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: omone1 on December 28, 2021, 02:21:41 PM

Many persons who sold off their bitcoin for some altcoins didn't know bitcoin will become very expensive at this early time after seen a massive bearish market in 2018/2019. Some of us made some huge blunder on our bitcoin possession. I won't want to dwell in regret.

The same cycle will happen again. As the minting of new coins gradually comes to its endpoint, the supply of bitcoin will stop one day and then the prices of the coins will go way higher than any possible quoted price at this point of time. We may not live to see that day, but we can hope that our grandchildren will and therefore accumulate bitcoin at these prices as much as we can without hurting our current spending.

I feel we all should make it a point of buy at the lows whenever we have cash to spend instead of wasting it on beer/pizza/drugs and whatever turns you all. This is the era to invest your money if you are in your twenties and look forward to massive gains in future. Be warned that this is only applicable to bitcoin and not shitcoins.

The Cryptovator

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From today after 10 years, I might need to make a similar post. We are selling Bitcoin for needs or whatever. It's not a mistake at all. This is life and we can't prevent that. Never selling doesn't mean you will not sell before death. We need to this about the present, we can't recover what we did in past. Sometimes we can't evaluate our wealth for the future hence we attempt to sell. Although feeling sorrow for you, but prefer to start from here. If you can then save for the future. You didn't know before 5 years Bitcoin would achieve this position. Now we can't imagine what would happen after 5 years.

OrangeII

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wow, you almost became a millionaire. well, I think people who know bitcoin or cryptocurrencies from 2013 have that opportunity. what's more at that time there were still quite a lot of people spending free bitcoin and doge on faucet sites. if we were consistent, maybe we would all be rich people by now.
Well, at this point I decided to never open my old wallet. it is quite painful to see us easily selling the assets we have. well, until now, things like this have also become a meaningful lesson for me to continue to use money to a minimum and increase holding assets rather than using them for something that is not important.

mynonce

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Year 2030:

Most of the guys who are active here from 2020-21 would tell you similar stories. From my part, I first invested in Bitcoin in 2021. Back then I had purchased BTC at $60,000 per coin (a few months later, the rates dropped to $40,000 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $1 million or even $10 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2021 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Thanks to Sithara007

Sithara007

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Most of the guys who are active here from 2013-14 would tell you similar stories. From my part, I first invested in Bitcoin in 2014. Back then I had purchased BTC at $600 per coin (a few months later, the rates dropped to $220 per coin). There were some isolated threads in this forum back then, claiming that BTC would hit $100K or even $1 million in the future, but hardly anyone took them seriously. Me too, never thought that it was realistic. The good thing is that I still have a small part of what I purchased in 2014 remaining in my wallet. I know a lot of people who sold all of their coins within a few years. Can't blame them, right?

Quidat

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Quote from: A62662 on January 01, 2022, 06:29:44 PM

It's not in the hands of the "community" anymore and hasn't been in years. It's in the hands of the 1%.

They can take it down to $3000, or they can take it higher if they want to. What the people who post and read on this forum does and think, has ZERO impact on the price of Bitcoin going forward.

How you do say so?

Bitcoin isnt something similar on fiat on where elites and big institutions are on handle or could manipulate prices as they like considering on how many wallets get involved or does have fund

then you could definitely say that this is something that cant be dropped down to 3k which is already too low to consider or we could say that bitcoin is going to die.
Nothing is assured though in terms of future aspects but we can really see the potential that it wont really be dropping out soon.

sheenshane

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Sometimes it's good to look back at our Bitcoin wallet transactions history and while checking the previous transactions it feels us regret why we didn't able to hold until now when Bitcoin reached an ATH of $60k while you have spent it at the lower price something like $5k price.

That's a nice summary @mynonce and how about our Bitcoin donator before when someone donated 50 Bitcoin and 10 Bitcoin and it seems in 10 Bitcoin donator only @OgNasty seems pretty active right now, how does it feel?

This may be served as a lesson to learn, that's why we should keep some Bitcoin and forget something until how many years, maybe 5-10 years would a be the right decision.

A62662

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It's not in the hands of the "community" anymore and hasn't been in years. It's in the hands of the 1%.

They can take it down to $3000, or they can take it higher if they want to. What the people who post and read on this forum does and think, has ZERO impact on the price of Bitcoin going forward.

uneng

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Quote from: wxa7115 on December 31, 2021, 12:47:19 PM

Quote from: blatchcorn on December 26, 2021, 12:56:00 PM

I will also feel sorry for not buying bitcoin in 2010 when it was almost zero usd in price. Also I feel sorry that I sold my bitcoin at 15k and 30k, the list of sorry will keep going. Why regret on something we have no control of? If we what lies ahead we all will be millionaire.

And that is exactly the issue, we cannot change what we did or what we did not, the only thing that we can do now is to do something based on what we know, it does not matter that now you have to pay more money for each bitcoin, what matters is that you get it while you can.

After all as we know the levels of inflation are raising and it does not seem as if governments are going to get this under control, so a good way to avoid the effects of an increasing money supply is to get a store of value, and there is nothing better as a store of value than bitcoin right now.

Even now with bitcoin reaching at the 50,000$'s every few days, bitcoin is still a good investment for everyone. Not only the price is likely to keep increasing, it's also a decent way to protect money against fiat devaluation due to aggressive inflation faced in many countries, which has became worse during the coronavirus pandemic.

In my opinion bitcoin is the best investment right now, because it's easy, accessible for anyone to start and possible to be made with low amounts of money (about 6$, for an example, in one of the apps I'm an user).

So far I haven't found better advantages in another investments outside crypto universe.

wxa7115

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Bitcoin is GOD

Quote from: blatchcorn on December 26, 2021, 12:56:00 PM

I will also feel sorry for not buying bitcoin in 2010 when it was almost zero usd in price. Also I feel sorry that I sold my bitcoin at 15k and 30k, the list of sorry will keep going. Why regret on something we have no control of? If we what lies ahead we all will be millionaire.

And that is exactly the issue, we cannot change what we did or what we did not, the only thing that we can do now is to do something based on what we know, it does not matter that now you have to pay more money for each bitcoin, what matters is that you get it while you can.

After all as we know the levels of inflation are raising and it does not seem as if governments are going to get this under control, so a good way to avoid the effects of an increasing money supply is to get a store of value, and there is nothing better as a store of value than bitcoin right now.

btc78

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Quote from: dubst4r on December 25, 2021, 11:06:33 PM

A lesson that I learned here is never sell

It feels Hurtful mate? i have also checked my wallet history back in 2017 and yeah i can feel your situation now, Imagine that i am gaining good amount from signature campaigns those days but i choose to sell if instantly every week and not thinking that days like this will come.
if i did hold my coins those days? i may have 1 whole bitcoin by now lol.
But like what others says, we must move on because this is not a mistake instead we have
no choice those days.

Topic: I recovered my wallet from 2014 and saw how close I was to being a millionaire (Read 726 times)