Topic: My Bitcoin Story (console me) (Read 3150 times)

You may have not have won the lottery but you have ten happy friends, a solid motorcycle and a 25BTC error'd coin all at a cost of $1500. Sounds pretty good to me.

In speaking of, does anyone know of a good services market place like freelancer.com that paysout in BTC?

Because of the uncertainty of price, my strategy is neither buy bitcoin nor sell it too. Just keep earning it by providing services.

In your dream, that will never happen. There are far too many people in bitcoin now.

"Very good" programmers (not running their own business) aren't paid $300K or more. Unless I missed an extreme boom in salaries, the real numbers are much lower.

I know that it would not sound like much, but I assume that you are young. Programming or building businesses in bitcoin are a great venue for you to recover 500 BTC and then some. After all, 500BTC is "just" 300K, which is what some very good programmers are being paid in a year or even less.

In your dream, that will never happen. There are far too many people in bitcoin now.

Hey, don't worry about it. Bitcoin will crash back down to $1 eventually and you can buy back those 500 coins and get ready for the next jump to $1000.

I just need to get this off my chest…

I found out about bitcoin in 2011 by listening to the Stefan Maleneoux (f$#% spelling) Podcast. It was just after the big crash from $30 and the price was hovering around $3. My first reaction was skepticism of course but I took the time to read the Satoshi Paper and did my research and poked around on some forums and came to the conclusion that this bitcoin thing was legit, and possibly the future of money for the world.

At some point I got a bonus at work that was rather substantial so I thought I'd use that bonus money to dabble in this Bitcoin thing. I bought 500 BTC for about $1500 bucks on TradeHill. I then used some of those bitcoins to purchase some Casascius coins. I bought 10 1 BTC casascius coins and one 25 BTC Casascius coin. (all of which were the 2011 with the error) I made an offline wallet with encryption in a flash drive made 3 copies of it and bought a safe to store the coins and the flash drive in and gave the other two encrypted flash drives to two trusted people with safes as well and I was done and happy.

Some time passed and I was watching the price religiously. Almost an entire year passed and it was only hovering around about $5, and my best friend bought a motor cycle, and he needed someone to ride with, and I wanted a motorcycle. So I cracked open the safe, put in my password, and since TradeHill was out of business created an account on MtGox and sold all of my coins in my wallet at $6 a piece, and I went and bought a motorcycle for $3000. (which I still have, Ninja 250r)

A while later I moved out of state and the price of bitcoin was around $200, I was so sick with myself for what I had done that I was kind of delirious and so as a going away gift I gave all 10 of my 1 BTC Casascius coins to the 10 closest people to me in my life. And so I was left with only the 25 BTC casascius coin.

I owned 500 BTC and 11 of the most valuable collectable items that will ever exist, and I was left with just the one 25 coin. It is safe to say I will never own 500 BTC ever again in my life for as long as live.

AFter the climb to $1200 and crash, and with a new job, I started buying again. I have not even recovered the 10 BTC I gave away yet but it's cool. The experience taught me a valuable lesson. Don't underestimate Bitcoin and what it can do. In the moment it seems silly to invest so much in what seems like such a crazy dream, but do it anyway. And I also learned the secret investment strategy for Bitcoin which is this: Buy low, Buy high, and keep buying and buying and buying. Just keep converting worthless fiat into Bitcoin at every step of the game, ignore the price, and convert fiat into bitcoin at a steady and consistent rate. Never sell. Never convert bitcoin into fiat, it is always a bad move in all circumstances, especially considering you can buy anything you need with bitcoin now.

Sometimes when I think about it, or I do the math in my head, I feel like I just got kicked in the stomach and I need to throw up. But I keep buying more bitcoin every check I get, and I won't stop until I'm getting paid in Bitcoin directly. Hopefully my story is interesting to you. Cheers.

I'm a retired engineer and recently found out about bitcoins.

I think this is the exchange currency of the future and have invested a small sum to acquire just under 20 BTC.

It's a start.  I can see huge advantages using this as travelling currency, no exchange rates, no coins in your pockets, can't get stolen.

We just need to get more acceptance by the tourist industry.

Hope to use BTC on my next trip.