Topic: My $11k bitcoin odyssey - page 5. (Read 5306 times)

Not necessarily. They have value in themselves. The USD price is just a placeholder.

But, dude...

You're still ways ahead of many of the newbies into the BTC market. I would love to be in your shoes.

I wasnt even old enough to earn my own money when I first heard about BTC back in 2011.

Well, it's much better than I'm doing at the moment. I've lost more now than I was contemplating getting thrown away in 2012.

The only way out of this self-imposed hubris-ridden predicament is for BTC to hit about 3.5k USD.

Haha I feel better already. (Until I think about the fact that I could have taken a sweet vacation with my family for the amount lost.)

Bingo.

When I first discovered BTC, I looked a lot like this:


Three years later I still look a bit better than:


When you start to live the Bitcoin Life remember to get exercise and eat healthy.  
Note: This is 'satire' both extremes are exaggerated versions of the truth.

My guess would be mining losses due to getting involved in mining without fully understanding the costs associated and the difficulty in generating a return on the investment.

I had a chance to buy 1000 BTC @ $2 in 2009 and bought hardware instead. At it's peak, that would have netted me well over $1M and change but instead the hardware  only produce $7k in profit.

Oh well, you do what is thought of as the best option at the time...and $7k profit in 12 months is nothing to sneeze at! 350%!!!!

even at the peak of $1200 in december..  your $11k buys would total more than 6btc..

going by your story you bought a load of coin at $450ish so lets say you threw $3k at the markets in february to get the 6.5BTC, what did the other $8k go to?

I took myself for an incredibly expensive ride as some sort of psychological ego wish fulfillment bullshit that I coulda woulda shoulda done sort of thing, true, the farce of mining at the present inclusive of that, and also my willingness to buy into it.

Woulda, shoulda, coulda.

Sounds like you aren't doing too badly anyway.

I generally sit down to write about something because it has somewhat of a therapeutic effect. You know, the whole 'get the demons out' thing. Well, I'm not sitting down. I'm reclining in boxer briefs in a newly bought house and my daughter is offering to shove some green play-doh in my nose in between the plot points of "My life as a teenage robot".

We bought the house through really careful saving over three years, mainly, and a couple well-timed promotions, which got our earning potential high enough for a decent mortgage.

Great. House, car, decent job, health, some money in the bank. Some money in the bank. Some money in the bank.


I first learned about bitcoin in 2011 off metafilter. It piqued my interest because I had argued with a thesis advisor for a couple years starting in 2006 that virtual currencies and properties were just as salient as our real life ones and to the extent that they could be made limited, just as valuable. Anyway, I had little money in 2011, and I didn't quite fully understand the problem that the blockchain solved.

Fast forward to March 2012. I had just gotten married and had a bit of cash. Again, I hear about bitcoin on mefi and it's now at $70.00 or something (this recollection may be inaccurate). I had enough then to have 700 BTC now if I had thrown my weight at it--and I was seriously contemplating doing it (I still remember the pause I had when I was opening my car door before I went to work, mulling it over in my head from the night before: if I lost that much I would be a fool, wouldn't I?)

I didn't do it.

December of 2013 rolled around and now I knew I was a fool. My heart pounded. I had missed my shot.

No, I hadn't.

I started buying in February all the way through the downtrend.

Then, I got into mining: a large group buy investment, script asics since the beginning (dual miner, grid seed, g blade, black widow, thunder, a train where each engine you add slows you down).

All told I have probably thrown 11k (maybe more) or so at BTC in varying ways and I have about 6.5BTC to show for it. It depresses me when I really think about it. But, here I am in my boxer briefs in my new house all the same (they're black btw). I guess there is some solace in being in your underwear in a house you own.

I am trying to turn this into a positive any way that I can, demons out notwithstanding.

Thanks for the read.