I regret selling BTC for entering DeFi. HODLing is the way!

riiiiising

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Quote from: DatKing on May 12, 2021, 01:05:47 PM

Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

Staking makes only sense if you stake in a well established network that is not as volatile anymore, but even then there is a ton of risk involved. Staking in volatile coins is among the riskiest strategies you can pick.

tygeade

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

They all works, that it didn't work for you doesn't mean it wasn't working. This is just not the time for DEFI, there was a time they were all bubbling and a lot of people who invested in them were making good profit from their investment, but after everything, investing in Bitcoin still remains the best thing you can do, because after everything Bitcoin still grows while most of these altcoins are just for the moment and after they mostly fade. Though there are still some good ones that keeps moving.

There have been a lot of altcoins that are doing really great this year, Dogecoin really pumped hard this year and even a lot of others that did great. It (dogecoin) later started dropping last weekend which made a lot of people to panic. But I have noticed that there are still lots of people who are ready to HODL, because they are believing they will reach the $1 price.

slaman29

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Quote from: Chato1977 on May 12, 2021, 04:49:35 AM

Quote from: slaman29 on May 12, 2021, 03:43:05 AM

Soon there will be more and more people like you also regretting. Defi is just a trendy thing right now with 100% APY but it all won't matter in the end when their tokens crash and burn.

assurance is nothing with DEFI bs projects , they are like Pump and Dump coins and will never have a place for long term in this market.

Quote

Plus, all these networks people are trusting to wrap their Bitcoin? It's not going to end well when one of it becomes insecure or rogue, I believe this is a matter of time only:)

At least OP has now new knowledge and will surely use this in His future investments.

Indeed, assurance is bullshit in Defi, and people who actually think assurance means something have never been in crypto. I was in ICOs with all kinds of assurances. Roadmap inspections and assessments. Even escrow protections. These are all bullshit at the end of the day and I learned my lesson so hard:)

leea-1334

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Temporary forum vacation

Quote from: noorammak on May 12, 2021, 03:01:49 AM

All crypto trends will pass and money will always flow to Bitcoin and the top altcoins. I have seen that through the bull market times from ICO, IEO, IDO to DEFI.
Holding Bitcoin and the top altcoin is an arduous process and we need to be consistent with our stance to become rich.

And always almost in the same majority of funds,,, to make Bitcoin dominance go back up towards 60-70% again. I think people in crypto who saw the last rally should know this,,, and those who have not will learn this.

Like you said IDO and DEFI is just ICO days. People have not seen it yet.

iTradeChips

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For me, my opinion on that is a bit negative but I do put it in a positive way. If you put these things into a certain perspective, you will find that predicting the future is one hard thing to do. We do not know what the future will bring for us. We will also never know if the good future will happen now or will it happen tomorrow or maybe it will happen in a few years or a decade. Nobody knows what will happen. So if you did something now and then 2 weeks later you regret that decision, there is really nothing for you to do than accept that fate. Nobody is to blame, it is just what it is, a happening on a point of time. So do not feel regret, use it as an opportunity to learn patterns, know more news and information, and check with many people. So that in the next time, you will be able to know the patterns, and will be well informed in your decision to sell or to hold a little more.

Vaculin

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Winding down.

It is somewhat you are unlucky and having a wring entry with Defi. I know that there are promising Defi projects around but you've got the wrong one burns your out and loses your money. It is really regrettable but that was a part of our life in crypto, sometimes we overly speculated that choosing this one will give us more but unfortunately, we ended up badly.

Anyways, makes this a lesson to learn. Not all the time we are right, so better to move on and accept this loss. This is not the end of your life in crypto, you can still recover it someday.

mamiko

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I do not find it very correct to sell bitcoin. But if you need it and you have bitcoin on hand, of course buy it. Although you have money, do not have any difficulties. but if you don't need it and you're selling, you're doomed to miss this train. I have sold my bitcoins in the past and I regret it very much. I want to save as much bitcoin as possible now and earn more income in the future.

tanjiran

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Quote from: DatKing on May 12, 2021, 01:05:47 PM

Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

this really depends on the token used. we know that defi is on the hype, many projects whose prices are rapidly rising so farming can be a fairly effective alternative to multiplying assets. but we need to do an in-depth analysis and be prepared to face the worst risks as scammers are also starting to take advantage of this opportunity. we must be prepared for the possibility that our crops could be profitable or worthless.
while holding is much safer because we can store it in our own wallet, while for farming we have to "entrust" our assets to the project platform. must be really selective in order to keep our wallets safe.

erep

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Before transferring an asset from the top coin to another, you should specifically consider and do not need to rush to trade the entire asset but quite a portion of the total asset. This is to anticipate if the top coins increase and you can enjoy half the profit from it.

DatKing

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Of course HODLing is much better than yield farming. Because those DeFi projects aren't very reliable to stake onto. You can even lose money while hoping to earn. It is the same for HODLing also but at least it is safer and much more profitable in the long run.

riiiiising

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Quote from: NeuroticFish on May 12, 2021, 01:31:11 AM

Quote from: nutildah on May 12, 2021, 12:51:44 AM

Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Some people tend to "look back" and have regrets, some keep looking forward. Too many don't understand that's unhealthy to look back because you'll always find something you could have done different, better.
This being said, it's clear that selling Bitcoin for NFT turns out to be a bad business more often than not. But OP should (and seems to) take it as a lesson instead of regretting.

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. [~snip~] Just HODL and you would have more more money than anyone yield farming in long run.

Indeed. It's a valuable lesson and you've learned it.
And keep in mind that in the same way all who got burned in the ICO craze warned that NFT is not a good investment and you've ignored that, many of the next ones to come will be burned by the next similar craze, just because some don't believe the warnings and "want" to learn from own experience.

It is the same with NFT as it was with ICO. Nobody will deny that there were a couple of ICOs that made you filthy rich. The danger is that t is just a hand full. It is tempting to find one of this hand full, but as Neuroticfish says you'll lose more often than not. Try to have a balanced portfolio, that allows for some high potential high risk investments while also having exposure to more solid coins.

Lanatsa

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Quote from: lienfaye on May 12, 2021, 02:42:09 AM

Quote from: Zemomtum on May 12, 2021, 02:32:43 AM

I don't blame you guy but you need to take a risk that is well calculated. You don't go all-in for only one token, you need to diversify even though you are using your precious digital gold (BTC) for it. If you have invested 0.1 in each, that will be 10 projects and there is no way all of them will be dumped and you can easily cut off your losses.

But investing in defi projects are risky compared to well-established coins. If I were to diversify my investment then I will choose the coins similar to bitcoin, a coins that are existing for few years and has a good development and progress. It has less risk and it doesnt matter if I wait longer as long as there's a possible good outcome waiting. Anyway investing is really risky regardless how promising it can be thus dont invest the money that is meant for important things.

Yes for you but for others ? we do have different kind of approach into investment this is why there are some whom do really risk out even if its way too risky yet we do know on how much
potential in profits it could possibly give you once you do hit up the right project and of course it would really be a gamble.

Even if you do know that bitcoin is worthy but still you do consider out to diversify into other projects on having the beliefs that it could rise out then
its part of our investment strategy and of course it would neither be resulting into positive or negative.

Regrets do always come in the end but doesn't mean that you would completely stop on what youre doing. In able for you to make money is to
make out some risk which is normal.

mbe48

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You should not think narrowly about losses, because basically Crypto has a high risk of prices that do not necessarily fluctuate significantly. You are also not the only person who has a loss, and one lesson it is good to save on some assets. And remember the main benefit of DeFi technology is that it allows people who previously did not have access to financial services to participate in the global economy. Stay enthusiastic about the achievements you get ...

skarais

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Quote from: ?? on ??

holding bitcoin in the long term is one of the best ways to earn income when compared to the DeFi project, bitcoin has long been born and has been known by everyone even recently many institutional investors have started to look at bitcoin because they really believe that bitcoin is good to use as an investment.

That's right, bitcoin is a profitable asset both in the short and long term. However, due to price volatility, maybe people are still hesitant to hold it for long for fear of not making a profit. I am pretty sure that anyone who has sold their bitcoin in October to December 2020 will regret the decision once they find out that the highest ATH occurred in 2021. But regretting the decision because selling it in the past will be useless, just make it an experience and a valuable lesson in the future.

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Quote from: AicecreaME on May 12, 2021, 08:28:03 AM

That can't be avoided, I meant we don't even know what's gonna happen next in the crypto market, whether it will pump or dump, so what you did was not even wrong.

Your decision is your personal choice, no one can tell if it's right or wrong, depends from how you treat it and how you accept your action.

Quote

If you bought your bitcoin under $32K, then it is already a boss move since a profit is a profit no matter how small it is.

yeah right, and what's important is you able to gained from your investment, how early you might move it and diversify it, it's your

money and no one else who can decide your position to take it.

Quote

Maybe next time you should spare some Bitcoin in your wallet so you could celebrate as well whenever it makes an All Time High price, just don't put it all in one basket.

Learn from this mistake and start rebuilding your investment, there are always good and bad experienced but there's also knowledge
and skills that you'll learned along the way.

Xinarae*

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Bitcoin has always been at the top of all currencies in the crypto market. Even if the price goes down it will go up again but it will have to wait patiently for a long time defi schemes to increase the price of bitcoin have improved the market a lot. The bull run is going on and looking at bitcoin this coin will rise even higher but there is no guarantee of how long the defi projects will last.

conected

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holding bitcoin in the long term is one of the best ways to earn income when compared to the DeFi project, bitcoin has long been born and has been known by everyone even recently many institutional investors have started to look at bitcoin because they really believe that bitcoin is good to use as an investment.

- Best way, but most people can't rely on this direction for too long as bitcoin often has terrifyingly quiet spaces and when it falls into this state, investors also feel very uncomfortable, this silence created an impatience and, looking at other opportunities, they realized that bitcoin was not the only chance, Defi was such a case, a bright spot could be profitable. Momentary letting go becomes an opportunity for others to accumulate, and as the price of bitcoin flies, remorse rises in emotion, sometimes holding is an act that requires a lot of rigidity.

AicecreaME

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That can't be avoided, I meant we don't even know what's gonna happen next in the crypto market, whether it will pump or dump, so what you did was not even wrong. If you bought your bitcoin under $32K, then it is already a boss move since a profit is a profit no matter how small it is. Maybe next time you should spare some Bitcoin in your wallet so you could celebrate as well whenever it makes an All Time High price, just don't put it all in one basket.

raidarksword

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Experience will always be our great teacher in this industry and the decisive decision will always be the focal point to succeed for long term haul purposes that will give more profits in the future. DeFi project had been a hype few months that's why the hype is so great that fake and scam projects were also booming. DYOR will always be the basic tool not to get rekt.

online73

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Hello everybody. In some ways I agree, in something, no. But with each passing day, it becomes clear to me personally that looking for different ways to make money on crypto-currency is less effective than just hodl Bitcoin. But you become even more convinced that, if you compare the time frame, then we seem to be in the "wild west" - it's dangerous everywhere. Yes, if you were lucky, you could buy a coin that will give you thousands of X's - but this is simple luck, just like finding gold in the "gold rush". Here and now, you just need to be very well versed in the crypto market, having previously traveled the thorny path of loss of deposits and deception from various projects.

Chato1977

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Quote from: slaman29 on May 12, 2021, 03:43:05 AM

Soon there will be more and more people like you also regretting. Defi is just a trendy thing right now with 100% APY but it all won't matter in the end when their tokens crash and burn.

assurance is nothing with DEFI bs projects , they are like Pump and Dump coins and will never have a place for long term in this market.

Quote

Plus, all these networks people are trusting to wrap their Bitcoin? It's not going to end well when one of it becomes insecure or rogue, I believe this is a matter of time only:)

At least OP has now new knowledge and will surely use this in His future investments.

ILuckyGuyI

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You are right about thinking that HODLing is the best way. Because I think there is no way that you can make a bigger profit by yield farming than HODLing BTC in the long run. Yield farming is not totally useless though. If you don't want to invest into a coin for some time but still want to increase your money in the market, farming is a good choice. But you should be really careful as DeFi yield farming projects have big risks in terms of security etc. .

Shasha80

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Quote from: ?? on ??

holding bitcoin in the long term is one of the best ways to earn income when compared to the DeFi project, bitcoin has long been born and has been known by everyone even recently many institutional investors have started to look at bitcoin because they really believe that bitcoin is good to use as an investment.

Indeed, Bitcoin holding is the best choice to be able to make money, especially in this year the increase in Bitcoin is very drastic. In fact,
many institutions prefer investing in Bitcoin compared to other assets. So it's a wrong decision if we prefer DeFi to Bitcoin, mostly DeFi
just goes up because of the hype. So DeFi projects mostly go up suddenly and will go down too quickly, in the end it's hard to recover.

slaman29

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Soon there will be more and more people like you also regretting. Defi is just a trendy thing right now with 100% APY but it all won't matter in the end when their tokens crash and burn.

Plus, all these networks people are trusting to wrap their Bitcoin? It's not going to end well when one of it becomes insecure or rogue, I believe this is a matter of time only:)

Reatim

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Now realization comes your way after trying to trust other area aside from Bitcoin? now you know how important letting your money in Bitcoin instead of any rising altcoins?

Sad to hear what happened to you but that will serve as example and learning for not to leave BTC all the way, you can take part of it for other altcoins but not ALL IN .

Quote from: noorammak on May 12, 2021, 03:01:49 AM

All crypto trends will pass and money will always flow to Bitcoin and the top altcoins. I have seen that through the bull market times from ICO, IEO, IDO to DEFI.
Holding Bitcoin and the top altcoin is an arduous process and we need to be consistent with our stance to become rich.

Actually it is the whales action to Fool other investors to be part in altcoin shining because in the end? they will always goes back to btc investing.

noorammak

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All crypto trends will pass and money will always flow to Bitcoin and the top altcoins. I have seen that through the bull market times from ICO, IEO, IDO to DEFI.
Holding Bitcoin and the top altcoin is an arduous process and we need to be consistent with our stance to become rich.

lienfaye

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Quote from: Zemomtum on May 12, 2021, 02:32:43 AM

I don't blame you guy but you need to take a risk that is well calculated. You don't go all-in for only one token, you need to diversify even though you are using your precious digital gold (BTC) for it. If you have invested 0.1 in each, that will be 10 projects and there is no way all of them will be dumped and you can easily cut off your losses.

But investing in defi projects are risky compared to well-established coins. If I were to diversify my investment then I will choose the coins similar to bitcoin, a coins that are existing for few years and has a good development and progress. It has less risk and it doesnt matter if I wait longer as long as there's a possible good outcome waiting. Anyway investing is really risky regardless how promising it can be thus dont invest the money that is meant for important things.

Zemomtum

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CitizenFinance.io

I don't blame you guy but you need to take a risk that is well calculated. You don't go all-in for only one token, you need to diversify even though you are using your precious digital gold (BTC) for it. If you have invested 0.1 in each, that will be 10 projects and there is no way all of them will be dumped and you can easily cut off your losses.

NeuroticFish

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Quote from: nutildah on May 12, 2021, 12:51:44 AM

Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Some people tend to "look back" and have regrets, some keep looking forward. Too many don't understand that's unhealthy to look back because you'll always find something you could have done different, better.
This being said, it's clear that selling Bitcoin for NFT turns out to be a bad business more often than not. But OP should (and seems to) take it as a lesson instead of regretting.

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. [~snip~] Just HODL and you would have more more money than anyone yield farming in long run.

Indeed. It's a valuable lesson and you've learned it.
And keep in mind that in the same way all who got burned in the ICO craze warned that NFT is not a good investment and you've ignored that, many of the next ones to come will be burned by the next similar craze, just because some don't believe the warnings and "want" to learn from own experience.

sapnu

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Too bad we need to learn in the hard way, regrets will surely come once you witness the coin you are currently investing to goes up right after you sold it. Holding is really important specially with bitcoin, no matter how long it experienced having a low price after a bull run, time will still come when its value will go high once again, you just need patiently and trust bitcoin. Those who were able to hold before up until now are surely gaining a lot of benefit right now and that is because they patiently waited and put their hopes high with bitcoin. There's still time to start again, don't waste it cause there will always be a possibility thatv bitcoin's value will keep on increasing.

nutildah

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Never regret spending your BTC. That's what it was born to do. The purpose of bitcoin's life is to be spent.

Sure, it's also a great investment, but in the meanwhile and if you have some to spare, spend that shit. Enlighten its existence. Fulfill its prophecy.

Quote from: djangofan on May 11, 2021, 01:48:08 PM

Thou shalt not buy or shill a narrative-based* coin unless you have a specific reason to think it has value.

Just a fun idea.

* narrative based - see Dan Helds article: The Rise and Fall of Crypto Narratives

LOL all Dan Held does is wave pom poms for Bitcoin. I'm not sure he's capable of penning a tweet outside of the maxi narrative.

His tweets always follow a formula, like "Its not what you can do for bitcoin, it's what bitcoin can do for you" and then a dozen or so bots say, "WOW. Stunning, yet so brave."

Alucard1

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That's okay, you have tried other things that you think a useful thing, so its not your fault you just decided to try other thing and there is no wrong with that, exploring other things is a nature of human, just make it a lesson for you, there is no better than investing in bitcoin, I am also spending my time in DeFi games and some of them are really good and profitable but I always separate the money that I invested in bitcoin to the money that I am going to spend from those DeFi games.

AniviaBtc

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Quote from: hatshepsut93 on February 09, 2021, 03:54:28 AM

More experienced users were always warning newbies to stay away from things like DeFi and ICO that are completely unpredictable in short term and are bound to underperform in the long run because of their bad fundamentals. People like Elon Musk or Michael Saylor would never invest billions in some risky centralized platforms that have nothing but empty promises. It's rally not surprising that Bitcoin outperformed high-yield DeFi. "In retrospect, it was inevitable".

Yes, if only he could turn back time, he will surely not exchange bitcoin to enter ICO or DeFi.

The best things is to learn from his mistake and understand that bitcoin is one of the best way in order to earn profits.

Do invest on the thing that is proven and tested, and also never settle on the investment that is not that good based on other people's opinion.

Always do some research and be patient about the crypto market.

isaac_clarke22

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Quote from: Yatsan on May 11, 2021, 11:02:57 AM

~

Dunno what the OP's goal in here. I was thinking of diversity but he mentioned that he went from BTC to Defi fully. It was a bold move of him because even getting past through 20k already was insane, and even I wouldn't think of jumping to any other coins in the market.
@OP You risked it, but I guess it didn't work in the end. Don't panic, OP. We're still stabilizing above 55k and price correction are often these days and you might get another opportunity to buy more.

fileo

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I don't have Bitcoin but it is one of my dream someday. I think save the best for the last is always applicable to do in this cryptocurrencies ecosystem as we know there are a lot of defi and icos that looks promising. However, there's nothing like Bitcoin. The potential of BTC is unique and unstoppable once rapid pump take place. Save your Bitcoin.

philipma1957

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Quote from: Vishnu.Reang on May 11, 2021, 12:24:09 PM

I really don't understand why people get greedy and invest in various shitcoins and scams such as the DeFi. Bitcoin has given almost 10,000x returns during the last decade. Why the users still chose other projects, despite these huge historical returns? And also, Bitcoin is the original cryptocurrency that was invented by Satoshi Nakamoto. All the other cryptocurrencies have plagiarized the original idea from Bitcoin, to varying degrees. Therefore it is clear that none of these projects will be able to overtake Bitcoin.

I first saw it at 6 usd and this year it has past 60000 or like you say more than 10,000 to one.

but it is not going to 600,000,000 from 2021 to 2030

so many want to find a coin like doge. it was 1,000,000 doge for under 3000 last year

and 1,000,000 peaked at 740,000 this year.

realistically if there is 400 trillion in worth for the world and btc is 1 trillion

it can only grow maybe 15x to 25x. so people want a coin with more upside.

dongyi17

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Sometimes it happened we sell it and a few weeks after it jump in much higher we do not expect, well just accept it then, and know for the fact this does not only happened to you but to others as well. despite that we all just do lose heart try and try who knows after all your trying you'll hit the jackpot...

LogitechMouse

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TBH, I did the same mistake that you did and what's worse is that I just did it a few weeks ago Cheesy

.
Or it isn't a mistake at all for me because I didn't regret converting it Cheesy

.

I converted some of my Bitcoin into some DeFi tokens and put it into pools for some passive income. Right now, I can't say that I'm losing on it but at the same time I'm not gaining that much profits on it aside from the daily interest.

Anyways, mistakes are there in order for people to learn. Just think of a sec how will the world will be if there are nobody doing mistakes. People are doing mistakes on a general basis and that is one of the ways for people to learn. Investors will be making some mistakes when it comes to investing but they will learn from it. If you are a conservative investor then just HODL. For me I'm HODLing and at the same time putting some funds into DeFi and staking coins for some passive income.

samsul1234

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Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

hello sir, I agree with you, for now it is better to hoard a very large amount of bitcoin so that in the future we can see bitcoin reach its peak, agriculture will only drain your energy and time

ene1980

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Quote from: xiboothrezi on May 11, 2021, 05:06:40 PM

I'm not really sure if I have to hold Defi for the long term, as it's mostly just hype and it's getting lower and lower over time. Defi is good, but I think it is more suitable for the short term, it's like fast food, if we eat it late then it doesn't taste good anymore. For the long term, I prefer BTC or strong altcoins like eth and bnb, these are more promising.

I am always critical about BNB as you cannot trust them in the long run, you can anticipate changes as they have the funds but i would always choose ETH over BNB and all the hype for DeFi and NFT projects are interesting but you never know how long they will be holding in this competitive space and the investors have an ultimate aim of converting all these profit to Bitcoin. We have seen the similar trend in the past and i am hoping it will continue in the future as well.

djangofan

newbie

Activity: 17

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I bet Defi will be forced to re-invent after its first failure in this phase. Same thing happened to Ethereum right?

xiboothrezi

sr. member

Activity: 1246

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Quote from: xanxus.kun on May 11, 2021, 01:51:07 PM

I think its not a bad move, I believe DeFi is a good investment. It will be a fruitful harvest in a few years just be patient in holding. Been planning on buying as well, its just that I am still grinding some money at the time being. Holding is the key here!

I'm not really sure if I have to hold Defi for the long term, as it's mostly just hype and it's getting lower and lower over time. Defi is good, but I think it is more suitable for the short term, it's like fast food, if we eat it late then it doesn't taste good anymore. For the long term, I prefer BTC or strong altcoins like eth and bnb, these are more promising.

xanxus.kun

full member

Activity: 495

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You have to get what you want your own way.

I think its not a bad move, I believe DeFi is a good investment. It will be a fruitful harvest in a few years just be patient in holding. Been planning on buying as well, its just that I am still grinding some money at the time being. Holding is the key here!

djangofan

newbie

Activity: 17

Merit: 16

Someone needs to keep an always up-to-date "Ten Commandments of Bitcoin" to straighten people out.

One of the commandments could be:

Thou shalt not buy or shill a narrative-based* coin unless you have a specific reason to think it has value.

Just a fun idea.

* narrative based - see Dan Helds article: The Rise and Fall of Crypto Narratives

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

I really don't understand why people get greedy and invest in various shitcoins and scams such as the DeFi. Bitcoin has given almost 10,000x returns during the last decade. Why the users still chose other projects, despite these huge historical returns? And also, Bitcoin is the original cryptocurrency that was invented by Satoshi Nakamoto. All the other cryptocurrencies have plagiarized the original idea from Bitcoin, to varying degrees. Therefore it is clear that none of these projects will be able to overtake Bitcoin.

Nhor1011

member

Activity: 994

Merit: 11

Daxetoken.net

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Don't regret instead invest again if you still have capital. That is what always said that if you invest, don't put all your eggs in one basket. Defi is not a bad at all but bitcoin is really valuable and with higher number of demands ever since. So, don't be afraid to hold and wait the right time for you o sell your bitcoin then buy again if there is any price correction. Forget the past, just move on and continue to invest in bitcoin.

Yatsan

legendary

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Leading Crypto Sports Betting & Casino Platform

We will be learning our mistakes based on late realizations as well as experience once we have gone through a tough situation on which what we have done have played a negative implication on the way we perceive things just like thinking that your money will further grow if you will pull it out from Bitcoin and putting those into DeFi. Now that you have learned it the hard way, that must serve as a lesson for you to not make the same mistake once again. It is understandable that you are seeking for progression by looking up into other ways possible but sometimes contentment will be the key to success. Although there is nothing wrong with exploration as long as you will not give all out into it.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Sanugarid on May 11, 2021, 07:40:45 AM

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

So did you sell all of your BTC? If yes, I feel bad for you and make sure you've learn something valuable when it comes to holding.

Don't feel bad for him for selling his BTC since whatever figure it is still good especially if he used it on good imvestment, Defi is not bad options though we must be seelective since there are so many scams there. And also but what bad thing there is if we don't take any actions right now especially the price is at cheap rate so best take an action since for sure a pump will follow after this.

Sanugarid

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★Bitvest.io★ Play Plinko or Invest!

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Why not invest in Defi with your spare money?. There's no problem with investing in yield farming but you should not really sell all of your BTC just for that, but profit is profit regardless of what market price you decided to sell it is still profit n on your part. So did you sell all of your BTC? If yes, I feel bad for you and make sure you've learn something valuable when it comes to holding.

pixie85

hero member

Activity: 2184

Merit: 531

Don't be sorry. You still made a better choice than people who never had any crypto.

Since you are still here you are again better than 90% of the society who were never here and aren't even aware of this opportunity. You can still make money here, bitcoin is not at the end of this cycle yet. You'll see what will happen when more companies invest.

Dave1

hero member

Activity: 1414

Merit: 542

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Too bad, anyway, as you have said, this is a learning experience for you, but very expensive one, many newbies fall for the Defi hype, and they didn't know that it is riskier than going full BTC, and just HODL. I would say though that Yield farming is useless, but you are caught in the hype around it and thought that it is the best way to earn huge money in short amount of time. It doesn't work that way here, most of the time it is a lot of ups and downs. Maybe the better approach is put all the majority of your investment in bitcoin and they try some on alts.

Gozie51

hero member

Activity: 2660

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Vave.com - Crypto Casino

As far cryptocurrency is concern , there can only be a total loss when the coin is delisted from the exchange but when the coin and team are still existing, the coin will eventually get you back to your entering journey for you to get out, depending on the time Grin

You may be feeling mistaken now just because the bull of bitcoin @ $47k + is giving you a profit you don't have but be patient. You remember in the bitcoin example in 2017 as investors bought late at $19,000 / + and bitcoin crashed down to $4,000 till last year it was down in March. At the the down time, many sold at loss in anger but what is bitcoin price after the crashed : ANSWER IS $47,419. Therefore to this, your decision may be a blessing in your future.

Kelvinid

sr. member

Activity: 2828

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win lambo...

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Then, it is about time to learn from your bad and disappointing experience but I'd never think that it was regrettable unless you are selling compared to the buying price.

But just to said that not all holding making huge benefits, they are sometimes at worse or losing a lot. But if we are talking about holding BTC, you have something to expect a better price in the long run which is perfect for a long-term holding.

acener

full member

Activity: 1274

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★Bitvest.io★ Play Plinko or Invest!

There are so many regrets that we have right now because of crypto price.
I regret holding my alt-coins and not converting it into crypto and also I regret spending my BTC but there is nothing that we could do about it now.
We just need to move on and stop holding in those regretful memories.

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

DEFI is the current hype project because it can produce quickly but can also lose quickly. Many DeFi projects keep popping up. Some of them are good projects and can make a lot of profit but some are scam projects. Don't hold the DeFi project token for too long because it is very risky, it's better to sell it when the price is high. A better and more stable investment remains in Bitcoin or coins that are in the top 10 of the marjetcap. Don't rely too much on DeFi.

lienfaye

hero member

Activity: 3010

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Well you will only realize your mistake once something went wrong already or you experience losses. Its quite normal to look for other opportunity that we believe we can gain more but being greedy is the usual reason why we end up losing our money and regretting our decision after.

Bitcoin is a reliable coin, thus better to be on the safe side because as long as you have patience then you wont get tired of waiting for the right time to take profit.

k@suy

sr. member

Activity: 882

Merit: 269

Quote from: Bitcoinislife09 on February 09, 2021, 01:57:29 PM

I think Defis is a good project but compared to bitcoin investment it is risky and bitcoin is less risky because there were just so many investors when it comes to bitcoin. Defi mostly could fail in the process but I see a lot of Defi project gives a good amount of profit especially in just a short term of the investment. Defi is the new ICO here and investing in it was great in my experience but I guess you're just unlucky picking a good Defi token investment. If I have a good volume of bitcoin I will not exchange it for some token but if it was just a small amount I would take a risk since defi would give much more profit.

defi is risky because most of the projects that are related to it turned into scam. Defi is a fast paced project where you could earn and sell in faster way as well. You may be rich if you invested in a good one so you need to be sure that coin is legit and profitable, I earned 3eth in a certain defi project before and then after 3months the owner abandoned the project I am lucky that I sell it in the right time so good for me, if you will choose between defi and bitcoin? choose the more stable one choose bitcoin.

milani

sr. member

Activity: 1092

Merit: 254

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

DeFi is a good and attractive topic and direction nowadays, but it's risky features nobody's cancelled. Of course our experience is a very valuable thing for all times and it is a pity that very often we get our experience through losses and regrets. And of course it is absolutely useless to say now you should better invest into DeFi assets from some other resource, not touching assets in BTC. But nowadays the step was done and result will not change. DeFi is really attractive, but nowadays it is a hype direction. And it will not last forever in my opinion. At least not for all DeFi projects that appear nowadays, because only some percentage will stay alive after some time, only strongest projects. But holding Bitcoin is quite another thing.

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Quote from: abel1337 on February 11, 2021, 12:34:05 PM

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Yeah, We can consider it today as a wrong decision, But what if BTC dumps and your Defi journey were successful? It's about taking chances but it's not bad to try a small amount first and if successful you will not regret it like you are experiencing today. I'm pretty sure that it was not only you who has the same case, There are many people now who regret selling their BTC and put it to other things that they can get profit. I also sold some of my bitcoins in the 28-35k price range but I didn't sell it all, I made a partition in selling and I'm glad that I did it.

The thing is, DeFi is still pretty much at its infantile stages, which is mainly the reason as to why it is not as profitable as let's say the giants in the market like bitcoin. If I remember correctlyDefi has just been released like 1-2 years ago, compare that to bitcoin with more than a decade of experience in the market and had withstood both the best and the worst of its time. I'm pretty sure DeFi will become as profitable as bitcoin is in the future, and so don't downplay it too much. And if I may add, always diversify your asset buy, that helps ensure that you get the best of both worlds, or is at least at a good security compared to pooling a massive investment into just one asset.

Nikole Fischer

newbie

Activity: 74

Merit: 0

Don't worry! The main thing is that you made a conclusion for yourself.

I also think that hodling is the best way to farm money. I started hodling a long time ago, but I invested whenever possible when the bitcoin price was 20k-30k. At the moment, the price has already been paid off several times. Keep HODLing, guys! Wink

abel1337

legendary

Activity: 2492

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Yeah, We can consider it today as a wrong decision, But what if BTC dumps and your Defi journey were successful? It's about taking chances but it's not bad to try a small amount first and if successful you will not regret it like you are experiencing today. I'm pretty sure that it was not only you who has the same case, There are many people now who regret selling their BTC and put it to other things that they can get profit. I also sold some of my bitcoins in the 28-35k price range but I didn't sell it all, I made a partition in selling and I'm glad that I did it.

Furious 7

hero member

Activity: 2856

Merit: 644

https://duelbits.com/

Quote from: maydna on February 09, 2021, 01:31:11 PM

Sometimes, the temptation to earn bigger money will come to us, especially if we see the new trend comes in front of our eyes. We are seduced to invest our bitcoin in the new project, which we don't know if it can succeed in the short or long term. That is greedy, and we must know how to prevent it before we regret it.

@OP, you are not alone. I am sure people will have the same experience as you, but it already happened, and there is nothing we can do or regret. Make your mistake as an important lesson, so you can learn better and grow bigger than before. It is why we always warn people that holding bitcoin will be worth it than holding an unknown project. But don't get it wrong because some altcoin can be the potential coins, but that will not easily identify the coin.

Now, you need to rise and don't regret what was happen. You still have time to recover your balance because the market now moves very well, and I am sure you can make a profit step by step if you have patience. Remember, you need to stay focus and don't give up.

The temptation will definitely come over us by holding the BTC which we expect with a lot of USDT profit, I am one of which I even targeted $40k to sell BTC and switch to several altcoins but in fact different altcoins are more risky than holding bitcoin is safer and even stronger with market trends and some big investments from other companies so this will be a lesson and we will see how to hold it longer with big profits.

I prefer to avoid new projects because I have no experience in verifying so I will just follow the market trend when it will explode then we need to monitor and buy it sometimes it is also a potential coin and it will be profitable for us going forward.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Bitcoin will always be a better investment than most of the crypto assets or Defi and whatever . Anyway it’s not everyone that will HODL and make profit up to $47000, if you are able to HODL till $30,000 like you have said and you got profit then you’re lucky that you got something at least, cause there are people who don’t get any at all. And by the way, Defi projects are good also , profit doesn’t come always, that you didn’t make huge enough profit doesn’t mean that they are bad, no they are not. There are so many of them that are very good. Stop making it seem like you’re entitled to huge profit.

Bitcoinislife09

full member

Activity: 1028

Merit: 144

Diamond Hands 💎HODL

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

I think Defis is a good project but compared to bitcoin investment it is risky and bitcoin is less risky because there were just so many investors when it comes to bitcoin. Defi mostly could fail in the process but I see a lot of Defi project gives a good amount of profit especially in just a short term of the investment. Defi is the new ICO here and investing in it was great in my experience but I guess you're just unlucky picking a good Defi token investment. If I have a good volume of bitcoin I will not exchange it for some token but if it was just a small amount I would take a risk since defi would give much more profit.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Sometimes, the temptation to earn bigger money will come to us, especially if we see the new trend comes in front of our eyes. We are seduced to invest our bitcoin in the new project, which we don't know if it can succeed in the short or long term. That is greedy, and we must know how to prevent it before we regret it.

@OP, you are not alone. I am sure people will have the same experience as you, but it already happened, and there is nothing we can do or regret. Make your mistake as an important lesson, so you can learn better and grow bigger than before. It is why we always warn people that holding bitcoin will be worth it than holding an unknown project. But don't get it wrong because some altcoin can be the potential coins, but that will not easily identify the coin.

Now, you need to rise and don't regret what was happen. You still have time to recover your balance because the market now moves very well, and I am sure you can make a profit step by step if you have patience. Remember, you need to stay focus and don't give up.

TedMosby

sr. member

Activity: 1120

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https://bitcointalk.org/index.php?topic=5274318.0

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

you should not regret it. you learn a lot of things because of that.
we are all part of the supply and demand, and we are the reason for the price changes.

let me share this legendary thread by Laszlo Hanyecz to cheer you up.
https://bitcointalksearch.org/topic/pizza-for-bitcoins-137

Quote

I spent it all on pizza long ago: https://blockchain.info/address/1XPTgDRhN8RFnzniWCddobD9iKZatrvH4

3-4 years ago there were less than 100 people frequenting this forum, and I was pretty happy to trade 10,000 coins for pizza. I mean people can say I'm stupid, but it was a great deal at the time. I don't think anyone could have known it would take off like this. Smiley

Laszlo

https://bitcointalksearch.org/topic/m.5141191

ecnalubma

sr. member

Activity: 1540

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www.Artemis.co

That’s not a mistake, What if the opposite happened, your Defi investment grows and BTC dump? Crypto’s are unpredictable sometimes our decisions favors us but sometimes don’t. Learn from that lesson, we all made wrong decisions sometimes and lose a lot but that’s what make us better investors.

chicken65

hero member

Activity: 770

Merit: 506

Quote from: Karartma1 on February 09, 2021, 11:29:48 AM

Even my tiny shitcoin holdings percentage allows me to lose big (in bitcoin equivalent) whenever there's a massive spike up, like the one we all saw recently.
And consider I am 95% on bitcoin!
I can't and don't want to imagine what other people might have seen if heavily invested in altcoins. Maybe they don't care about the btc price of their holdings and only look at the fiat equivalent: I don't care about it, I only want to preserve my btc stash!

Ahh yes, give me those ancient times of 2014 when we gained far more from Alts than BTC.

chicken65

hero member

Activity: 770

Merit: 506

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Don't feel bad. I have done a lot worse.
These days I HODL some BTC regardless of price and have a fund for trading on which I lose about as equally as I gain. Wink

Karartma1

legendary

Activity: 2310

Merit: 1422

Even my tiny shitcoin holdings percentage allows me to lose big (in bitcoin equivalent) whenever there's a massive spike up, like the one we all saw recently.
And consider I am 95% on bitcoin!
I can't and don't want to imagine what other people might have seen if heavily invested in altcoins. Maybe they don't care about the btc price of their holdings and only look at the fiat equivalent: I don't care about it, I only want to preserve my btc stash!

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

you are not the only one with this regret.
every year when there is a new altcoin related hype a lot of newcomers fall for that hype and end up losing a lot of money after a while. your losses took place in a much smaller timeframe but it usually is longer. then they eventually give up bag holding altcoins and make a complete migration back to bitcoin.
this is why we always see massive altcoin dumps whenever bitcoin price rises.

irixo10

full member

Activity: 1078

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GoMeat - Digitalizing Meat Stores - ICO

According to you, you took some loses and some gains, all these are seen as experiences and lessons at least you took some gains, what if you didn't, that would have been a terrible experience in all. Also, what if you had held and the price of Bitcoin dumped while those DeFi you invested in pumps, I don't think you will say they are useless, hence I see it as experience all the same; moreover a lot of people never believed that Bitcoin would reach $47k. Nevertheless, I think what you would have done is, holding some Bitcoin no matter what because it is the best to hold at all times, while Investing some of it in other projects since you already had it in mind to do so.

TribalBob

sr. member

Activity: 1330

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DGbet.fun - Crypto Sportsbook

I don't think there is anything wrong, man, trying new experiences is normal and you want to know how much you earn from farms, but at the same time bitcoin has risen sharply so it makes you feel like someone who has a big mistake in choosing one action that causes big losses
from here you can find out what is the best right? HOLD with existing coins is the most important thing

blckhawk

sr. member

Activity: 1554

Merit: 334

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

I don't see any problem with it though because first of all, you make gains out of it $32k is a pretty fair price. Secondly, no one will expect that Bitcoin would grow this much since we have seen Bitcoin for a couple of weeks hovering around $30-$32k, and now after Elon's and the rest of the large investors showing their support on Crypto especially on Bitcoin it now suddenly pump. Both can be profitable in their own way but I would admit that in this kind of situation HODL is the best thing to do.

bakasabo

legendary

Activity: 2492

Merit: 1215

At least you got an experience of how things changes quickly on the market. Next time you will be more wise and invest only a part of your savings or will be more not receptive to selling and buying other new altcoins.

You should not worry much about missing opportunity of holding and increasing the cost of your portfolio. Because could have easily sold your Bitcoin at the price of $47k, when in next few days it would jump to $50-60k.

okissabam

sr. member

Activity: 700

Merit: 250

Well that’s what they say, lesson learned. Most of us had experienced somewhat the same thing and even bought bitcoin when it was at its peak and thought investing it to other coins would make us gain profit. But that’s okay, it’s a learning experience for you and for newbies that if ever you had bought bitcoin at a very reasonable amount, you should hodl them and just wait until you fee like checking if you truly have profited from the price you bought it.

Jawhead999

legendary

Activity: 1834

Merit: 1208

I AM HODLING

After you've done about your mistakes by convert your Bitcoin to DEFI token, do you still earn profit? I hope you still get some profit instead of loss.

Well... I believe many peoples are doing similar mistake like yours, they sell too quick or convert to stable coin before the price at the peak. But well, we can't know when the market will reach the ATH and when the market will crash. So I think you don't need to regret from your mistake, take it as a lesson.

MrcMrc

member

Activity: 518

Merit: 45

That is very correct I sold my bitcoin when is touched $30k and boom in one week bitcoin got to $40k+ and I regretted my decision to sell rather then holding now I am experience never to sell bitcoin just to invest in some over hype project with no reputation as bitcoin.

btc78

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

I believe that experience matters here mate , Value your experience and don't feel that much because Bitcoin will climb up more and more so there is never too late , Just think that you have spare some time in market.
and also you should be thankful that you still have your funds and not totally Gone.
we commit mistakes specially in this market so yeah check it back and enter bitcoin , as 50,000 is on the way now.

mezzaluna

member

Activity: 518

Merit: 23

★Bitvest.io★ Play Plinko or Invest!

Its really not your fault for trusting your gut and its just the way how Cryptocurrencies work. One day your at the top and then the next day your in the middle. Its still a good thing that you have tried another way to invest your money and now that you have learned about that, its possible to create more gains in the future with the newfound knowledge that you have learned about. DeFi is still being utilized to its potential and some investors gained profit from it instantly but not everyone can benefit from it the same way so I guess another thing that you should do is look for the best Alternate Cryptocurrency there is and invest on it.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

You did not imagine that with the inflation of DeFi projects and of total supply, circulating supply for each DeFi project, price of token will be damaged dramatically. It is the fact and you can not avoid it.

You entered with high price, and get loss now. I don't know the % or times of loss you have currently with DeFi but if it is in % (less than 50%) you can think of exit when they bounce back. If the loss is in times, sure you have only one choice, hold.

Holding them can cause you more loss if current loss is < 50%. More tokens in circulating supply, more loss for you because more sellers will dump their tokens.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

I'm the smallest defi fan in my world but... I thought you don't sell BTC to get into defi, you just "wrap" it up and get some defi token to play with, and then redeem it back for BTC?

I mean, isn't that the whole premise of Bitcoin defi that you don't have to let go of your BTC to pretend you're farming meaningless tokens?

In any case, hope it wasn't too expensive a lesson to learn. Don't forget to use as you hodl too;)

pooya87

legendary

Activity: 3472

Merit: 10611

Your mistake was entering a very risky and shady investment with all the bitcoin you had. You could have just tested the waters using a smaller amount such as 0.1 instead of 1 bitcoin.

Your other mistake is that when you saw the useless token was dumping and bitcoin was rising you still didn't do anything about it for over a month. The correct move would have been to cut your losses early, dumped that token and came back to bitcoin again.

Your other mistake is "investing" in shitcoins instead of trading them. Basically any method that involves you locking some money in an altcoin for any long period of time (yield farming, staking, or any other buzzword the shitcoins use) is a terrible idea. Altcoins are only good for short term trading.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: NinjaBitcoiner on February 09, 2021, 01:32:44 AM

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

We wont find it coming until we cross the line and you have just want to explore the market and no wrong about that.
I assume that at least you did not lose that whole 32k because you mentioned that you already have Loss and Gains so that means you enjoyed the trade right?

you are just feeling bitter seeing the Rise of bitcoin again but if this not happen ? for sure you are happy in that Defi thing.

but indeed , that Only Bitcoin has assurance and safeties , so the next time try to be patience and calm.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Not your fault, I expected the prices to increase by more than 40k mid year but Elon bought 1.5 billion worth of bitcoin and here we are, in a hindsight you could have hodl but there is no point in regretting it too much, you didn't know that the prices will go up real fast and you are already earning in DeFi, we always magnify our failures when there is a lot of things that we achieved and we don't appreciate them.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

More experienced users were always warning newbies to stay away from things like DeFi and ICO that are completely unpredictable in short term and are bound to underperform in the long run because of their bad fundamentals. People like Elon Musk or Michael Saylor would never invest billions in some risky centralized platforms that have nothing but empty promises. It's rally not surprising that Bitcoin outperformed high-yield DeFi. "In retrospect, it was inevitable".

NinjaBitcoiner

member

Activity: 77

Merit: 10

I learned the hard way that Hodling BTC is the only way. I wanted to grow my BTC so i sold my 1BTC @32K a month ago and put that money in DeFi for yield farming in those high APY. I took some losses and some gains. Now BTC jumped 47K. If i would have just HODL all this way i would have more USDT then if i buy BTC now. Lesson i Learned: Yield farming is useless. People put so much at risk entering smart contract not to mention the daily time waste. Just HODL and you would have more more money than anyone yield farming in long run.

Topic: I regret selling BTC for entering DeFi. HODLing is the way! (Read 751 times)