Topic: My Bitcoin and crypto currency experience. - page 2. (Read 361 times)

Everyone who has entered the world of bitcoin or the crypto world has definitely felt a different experience, everyone has their own story, some are traumatized, some have suffered losses due to lack of patience in holding bitcoin, I myself first entered the world of bitcoin in early 2017, I At first I was not at all interested in bitcoin because I didn't want to keep my money in cryptocurrencies which were full of risk, but at the end of 2017 I became interested because my close friends continued to provide very accurate information about bitcoin, I also tried to hold bitcoin over his advice, finally after a few months later I immediately felt the extraordinary benefits of bitcoin, so now anyone who posts negative things about bitcoin I will never believe it.

indeed bitcoin is not affected by inflation,
but if you suggest doing business using bitcoin, I don't agree.

because of the selling value or price of bitcoin, sometimes it goes up and down so fast, things like that are normal, because this is crypto,
some buy, some sell.

because that's basically what crypto/bitcoin is like.

what I recommend in crypto/bitcoin, is only for long-term investment, because at this time it is the most significant use of bitcoin,
maybe in the future bitcoin can be more developed than now,
but for now, I recommend only to invest long term.

You're simply saying general statements. You're not even sharing experiences. What did you actually experience with cryptocurrencies' high level of security, of them being not affected by inflation, convenience in trading, liquidity, etc?

With regards to security, Bitcoin has it but there have been hacks on many altcoin projects. Recently, Binance chain experienced it.

With regards to inflation, many altcoins are actually inflationary. If you refer to inflation in the outside world, if cryptocurrencies are not rising in value while the prices of goods and services are all rising, then it is affected by inflation.

With regards to convenience in trading, it's honestly a hassle with all the centralization, KYC requirements, high fees, freezing of funds, etc.

A newbie account doesn't always mean a newbie bitcoiner/miner/investor/trader. Many of them may not register on bitcointalk although they know this forum. So, we cannot judge To.Nick is a beginner in crypto trading or investment.

In my understanding, his intention is to share his experience and want to know others' experiences. He seems not to advise anyone to be involved in Bitcoin investment/trading. There is nothing wrong with sharing experiences, it is something usual. However, since there are many similar topics, they are better to post in a single thread entitled "Experiences with Bitcoin" or the like.

Experiencing a gloomy period is definitely especially in fear, panic, loss and many other anxieties that make you doubt it's a beginner who they are not mentally prepared as a whole, I think it shouldn't be too much to worry about from that experience we learn more about bitcoin and its technology, so what you do will be the best experience someday.

That's what we like about Bitcoin because of the very high degree of freedom so that we trust Bitcoin more than other currencies, because of the equality that exists, this is where we can distinguish it from the others and of course from all that we know is because we already know about Bitcoin More.

at one point, we are all noobs here in this market. we suffered losses many times over. even if we are here long time, still, we are not exempt from experiencing losses owed to various factors. however, those lessons learned should remind ourselves what's important to us why we are here in this market and why we are staying. the more experience we have, the lesser troubles we should battle in this market. but keep in mind, we are not totally free from encountering fraudsters one way or another.

Each one of us has bad and good experiences and for sure this bad experience when we're new in the crypto space.
Most newbies will usually encounter bad experiences and they will learn about them until it will become good experiences.  Its important thing that we should must learn and explore more about what technology Bitcoin has and learn different experiences.

More knowledgable you'll gain in this field the more good experience will come, believe me on this.
Just playing safe, stick on Bitcoin while you're a newbie because altcoins are very crucial stuff that you need to learn first.

When I first got to know bitcoin, I had a bad experience where I was tricked into buying crypto other than bitcoin, I almost stopped to continue learning about bitcoin, but a friend advised me to invest in bitcoin directly, not in other coins. over time I hold bitcoins, and at that time in 2021 yesterday I enjoyed the results, and I understand the meaning of holding coins, patience and analysis are important in setting strategy here I think (just a piece of the story from me)

Everyone had their own crypto currency experience based on their trading experience.The people who had experience before the 2017,will capable to do the good holding capacity for now.People who come to trading in the corona times will not have the patience like the old people.I am not criticising the new traders,they should learn the trading way to earn some good money from the trading.Bitcoin is the King to survive more then a decades.

Thanks for clarifying that for me. Bitcoin has its ups and downs, and lately I've been lucky enough to witness the ups and the favourable aspect of bitcoin, all to the point of letting my biased judgement get the best of me and I'm sorry about that mistake.

And speaking of letting my emotions get the best me? I allowed the fear of missing out on great deals and profits when there's a high rise in the market overcome me and also the uncertainty and doubt that constantly plays in my head that what if Bitcoin crashes after a huge investment. These were the feelings and emotions that had the upper hand in my early days. Thanks.

In the beginning, everyone had a bad experience with crypto and it was because of a lack of knowledge. We should know what are we going to do. When someone first time enters crypto they think it's a quick rich scheme and they expect a lot. So it results in a negative impact when the market dump. But it's true you can't learn properly if you don't lose. When investors lose funds then he thinks deeply about the next step though they regret it. When we start more learning day by day experience will change.

If you're giving advice in here to get involved in bitcoin and crypto, we're all sure that we've been into it, and we do agree with you. But if you're going to talk about it somewhere else, many will raise their eyebrows on you.

It's hard to convince people with something that you're enthusiastic about and they're not. But don't worry, soon, the natural growth of adoption is going to come and those people that don't like it when they've heard it from you will start to be curious once, been there done that.

BTC is deflationary, and it is secure because of the high hash rate, consensus mechanism, decentralization etc. But with self-custody it is only as safe as you make it, if you are not up for the responsibilty of self-custody, it is better to stay with paper money, it is even worse for bitcoiners who don't practice self-custody, that is bitcoiners who use custodial wallets and services; they bear more risks that the average user of fiat centralized services.

You are alluding to crypto and not BTC, so you better be careful trading shitcoins in centralized exchanges, it may be convenient until it is not. BTC is a 'community network' so we could talk about 'equality' and 'fairness' you mentioned, but again you generalized it as crypto, maybe you should know that many crypto's are centralized and controlled by a small group, like ETH that just moved to POS that allows for centralization and the possibility of powerful staking pools and censoring of transactions, in BTC POW it is impossible for a miner to control 51% of the hash rate.

It can only be a win-win for a crypto user if they use the right coin (BTC) and have the knowledge they need about it.

I agree with what the op mentions in the personal experience part, but I think that some earlier things like about crypto being 'the sure way to build a successful business' are significantly overstated. A person can build a crypto-related business of many kinds, and it's also possible to implement some usage of cryptos for a business that isn't centered around cryptos. However, it can lead to losses, it can fail, just like other businesses. Also, if there's a good business idea but there doesn't seem to be a place for cryptos there, maybe it's okay and there shouldn't be.

Lots of people are in crypto that are not in this forum, I know friends and colleagues who are involved in crypto but are not members of this forum. So there is nothing wired about if OP account is new here but he already has crypto experience.
The crypto community is vast bro and not everyone who is involved in it is a registered member here perhaps the OP already had crypto experience before joining this forum.

To.Nick bro i don't know how but your account is registered on 20 October 2022 and you are on the 23rd sharing your experience for Bitcoin seems weird. May that it can be your Atl account or maybe you are new on BTT.
There are many possibilities why are you sharing this post.

Not everyone is capable of making smart market decisions; especially with something as volatile as bitcoin/crypto.


Of course not. You might think this because you're probably only looking at the successful businesses/companies. If anything, a crypto business/company most probably has lower success chances compared to a business/company in an old industry.

You didn't state how your emotions led to your loss of opportunity or disappointment but you are very correct, it is not ideal to let your emotions becloud your decision in business. The motivation to invest or engage in any business dealing should be verified facts and not mere assumptions or emotions.

You are very correct, bitcoin (I am not sure of others) is the future of legal tender, and denying this fact is living in self-denial.

You seem to be overexaggerating the impact of bitcoin on businesses. It's true that bitcoin can help businesses to have access to cheap and reliable financial transactions. It also helps businesses to overcome some impediments that are associated with conventional banks. But assuming that it is the sure way of building a successful business is going too far. There are other main or basic skills or resources that every business needs to survive and make a profit. Bitcoin might not be impactful if you dint have the basic skills to run a business. 

Bitcoin has always proved to be a hedge against inflation but in recent times it has been affected by inflation and some other economic indices. Therefore it would also be slightly out of place to assume that it is not affected by some economic factors. Bitcoin is accepted in most countries of the world and it can be easily converted to fiat. It has also proved to be a good investment especially if you are HODLING. This is because it has proved over the years that after the bearish market, the bullish era would always come.

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Note: It would be appropriate if you focus on discussing bitcoin in this section. You can always talk about other cryptocurrencies in the altcoin section of the forum.

Bitcoin and crypto currency in general is the new era and I would advise everyone to get involved because it is here to stay. This is the time where basically everything around us has some sorta tech and as life has it we're all evolving by the day. Crypto is the new world order, yes, but it has it bad sides as well. As a novice back then I had my fair share of disappointments. And these disappointments were caused by my fear, fear of missing out, doubts. I met my emotions get the best of me. Don't do that. Don't let your emotions get the best of you.
   
Crypto is the sure way to build a successful business or company and like I said it's the new world order. And with that said, this has been what my experiences with Bitcoin and crypto currency has been like so far.

My experience:
There's a high level of security. Crypto currencies are not always affected by inflation in the market and very volatile in nature. The convenience of trading at anytime and the easy made of crypto currency liquidity across multiple exchanges. There's equality and fairness on either sides of the market. It's always a win-win situation whether you're buying or selling if you know what you're doing. And there's also a high level of transaction freedom.

Please feel free to share your experiences with Bitcoin and other Crypto currency