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Topic: My feelings after 11 years with crypto. - page 6. (Read 3447 times)

jr. member
Activity: 33
Merit: 3
August 26, 2022, 03:42:07 PM
Im confused - does bitcoin use cryptography or not? Am I allowed to call it crypto?
member
Activity: 283
Merit: 10
August 26, 2022, 02:22:16 PM
I have not too much experience in crypto market but according to to my experience never invest in shit coin I,m also  lost my money in these coin always choose top coin like Bitcoin etc .. because investment in these coin never gone ...... To zero
legendary
Activity: 3892
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Self-Custody is a right. Say no to"Non-custodial"
August 26, 2022, 12:49:30 PM
I dont believe these things in the world of finance are by chance buddy. I doubt CBDC thought oh bitcoin what a great idea lets do something similar.
Digital things can reduce cost, and are much easier to manage and control. Bitcoin is great I still have a soft spot from the days of buying at 1USD on Gox.
But have you read CBDC whitepapers? Seen how Chinas CBDC operates?

I get the impression that you are quite easily distracted into various fringe cases that keep you from figuring out your bitcoin allocation to be something greater than zero and your investment timeline in regards to bitcoin to be something greater than short term trading.

Yes, CBDCs are likely another one of the many reactions to bitcoin, and they are truly quite different from bitcoin... if you were to happen to understand bitcoin...

Sure, you can reminisce on the good ole days of cheaper BTC prices, whether referring to $1 BTC or some other lower price that is unlikely to return, and maybe even having some personal understandings of historical BTC price moves can contribute towards your being more informed about current bitcoin happenings - even though in your case, I question the extent to which you actually appreciate the power of bitcoin including its current investment use case instead of seeming to be ongoingly afraid to establish some kind of meaningful long term stake in it.

Ultimately it is up to you what to do, including others who may be similarly situated to you in terms of their seemingly ongoing hesitant psychology around bitcoin.

Sure maybe if you went from 600-ish BTC in 2014-ish to zero in present, and you are proclaiming that 600 BTC at that time was a decently large portion of your networth or the value of your total investment portfolio, then it may well be quite difficult to get back to anything close to 600 BTC - and maybe similarly with OP proclaiming to to have sold all of his then 15 BTC in late 2015 - which at most might have been near $7,500 for all of them ($500 x 15).

At the same time, many of us who have been in bitcoin for a decently long period of time can appreciate that historically even a relatively modest ongoing investment into bitcoin could have allowed for a decent amount of BTC accumulation - even something as low as $10 per week could have gotten someone like you around a 4.5 BTC accumulation based on $4,440 invested if we go from late February 2014 (When Gox collapsed) to present, and OP could have accumulated about 1.3 BTC based on $3,400 invested if he had started investing $10 week starting in late February 2016 (after he might have realized that he sold too much of his BTC to soon) to present.  Of course, a more aggressive approach (but still relatively modest for some folks) of investing $100 per week would have caused the accumulating of 10x more BTC of 45 BTC for you (costing $44,400) and 13 BTC for OP (costing $34,000) respectively, and even if neither of you were able to get back to your prior levels of BTC accumulation, each of you would still have had been decently advantaged by employing such an ongoing BTC accumulation approach (or some variation of such that might be more appropriate to your personal financial situation).  

One good thing about DCA is that you should be able to reduce the negative aspects (the reservations) of the psychological component by choosing a DCA amount that is something sufficiently low that you would not necessarily miss it... but then at the same time, since both of you do seem to have fucked-up psychological problems, you may well end up having regrets that you had not invested enough.. hahahahahaha... damned if you do, and damned if you don't.. especially if you are ongoingly experiencing fucked-up psychological problems in which you always see the glass as half-full no matter what happens..

It's a bad luck for you brother. But don't worry there are lot of opportunities available in market to get huge profit. If you invest 1000$ in a altcoin and it's price become 100x then your 1000$ becomes 100,000. I already know lot of coins that gives these types of massive profits. So, there are lot of opportunities you just need to find that.
So, don't upset and start your journey in crypto market from today with a mission to become millionaire

Don't fuck around with shitcoins.. it is a BIG ASS waste of time.

Stick with bitcoin, and develop a solid plan around with bitcoin without getting caught up in the bullshit pump and dump distracting gambling scams that may or may not work... fuck that shit.. stick with a more solid long term investment platform and plan, such as investing in bitcoin thinking of both the upside and downside and at the same time not having to worry about when to get in and out.. just get in.. and get started and create a modest or an somewhat aggressive plan, reassess along the way and 4-10 years (or maybe longer) you might start considering cashing some of them out or just continuing to let the investment ride depending on your investment timeline considerations.
member
Activity: 812
Merit: 53
August 26, 2022, 12:31:09 PM
It's a bad luck for you brother. But don't worry there are lot of opportunities available in market to get huge profit. If you invest 1000$ in a altcoin and it's price become 100x then your 1000$ becomes 100,000. I already know lot of coins that gives these types of massive profits. So, there are lot of opportunities you just need to find that.
So, don't upset and start your journey in crypto market from today with a mission to become millionaire
sr. member
Activity: 1344
Merit: 459
Vave.com - Crypto Casino
August 26, 2022, 12:00:46 PM
I am very sure that if you have entered the crypto world for a long time, it is certain that your life is now starting to improve, even though you are not a millionaire but at least you have managed to make your family happy and can enjoy the results you get from bitcoin, but if you feel lost because you don't sell it when the price was high in 2017, I don't think it's the biggest regret, because we don't know what will happen in the future, I personally think the most meaningful thing you can get from bitcoin is a very valuable experience, don't never regret what has happened and try to get up to create opportunities in the future, because now many other coins have appeared.
member
Activity: 222
Merit: 11
August 26, 2022, 11:38:27 AM
Hello everyone, today i want to tell you about my crypto-depression.
So in 2010 i was working in IT company and my friend from work told me about bitcoin mining.
Next day after this information i register on this forum and start mining coins, everything going perfect but bitcoin price was really low and unstable.
I was investing everything in gpu. Couple times i lost my fund's on scam-exchange but i still had a lot of "mining power".
In 2015 i quited my job and invest my whole savings in bitcoin, in that time i had more than 15 bitcoin's and gpu worth 20k$.
And after 2 or 3 week's everything fucked up, in same time i lost my job and my wife get sicked.
In Nov 2015 i selled everything but still i had -$$$$ to pay, so you probably asking why i made this post?

Now after 6 years i have biggest depression ever, if i only burrow money from somewhere 5 years ago and didnt sell my miners...

I have feelings that i lost my biggest life chance to get really rich and i just want to forget about crypto and work in normal work but it is impossible.
It's hurt much more if you can see that your old crypto-friend's get cars and houses from crypto profit, i wonder if someone have some feeling's as me.


Many of my friends shared their stories like calculated or affordable losses and gains. But for the first time, I heard a life-changing experience. Maybe because we started only a few years ago, but early adopter like you definitely it's a turning point. And I hope, after all, these experiences and knowledge will make you a millionaire one day. Best wishes
jr. member
Activity: 33
Merit: 3
August 26, 2022, 06:08:59 AM
I dont believe these things in the world of finance are by chance buddy. I doubt CBDC thought oh bitcoin what a great idea lets do something similar.
Digital things can reduce cost, and are much easier to manage and control. Bitcoin is great I still have a soft spot from the days of buying at 1USD on Gox.
But have you read CBDC whitepapers? Seen how Chinas CBDC operates?
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
August 25, 2022, 09:01:44 PM
What happens when all bitcoin are mined and demand peaks? Will the price still go up? Always wondered about this scenario.

Aren't we getting so much beyond the topic of this thread?

Sure we can outline reasons why normies (and even not normies) are going to end up losing confidence in bitcoin's long term sustainability, and surely there are quite a few responses to this.. and of course, the responses are somewhat speculative, too.

I have frequently found that attempts to focus on base case scenarios tend to be way better then getting caught upon thousands of "what ifs?"  It seems far from prudent to be holding off on investing into bitcoin because we are worried about one "what if?" or another "what if?" that are likely fringe scenarios at best....

So the possibility that a lot of weird ass negative things could end up happening to bitcoin should contributed to how much to invest into bitcoin rather than negating investing into bitcoin.

Maybe we can use Armaggaedon as an example?  If you proclaim that there are 10% odds that armaggaedon could happen in the next 10 years, then you better not be putting more than 10% preparations into that... You are crazy if you put 20%, 50% or even 80% preparations into a scenario that you believe to have 10% odds

Of course, people are not necessarily going to agree on the odds, either.  Maybe I assign 1% odds and you assign 20% odds?  and so our investment should be attempted to tailor to our own views rather than the views of someone else.

All the bitcoins will be mined by around 2140, so your problem of running out of mined bitcoins does not really seem very urgent, and there are also theories regarding how to deal with it, but some of those theories are not even going to be very applicable until getting closer to seeing how the facts (and the whole system evolves in the next 50 years or more)..  We are still a bit less than 14 years into this bitcoin system going live, so a lot of aspects are still developing, even though bitcoin continues to largely be built upon its foundations, but there have been on the top developments, such as lightning network and other aspects in which incentives can be affected, and we cannot try to resolve incentives nearly 120 years down the road with any degree of specificity  even though there are possibilities that fee markets can continue to evolve in which the mostly existing bitcoin system can keep going without any major changes, even if mining rewards are completely dependent on fees rather than mining rewards as they have existed so far and are gradually reducing every 4 years to get us to the point that we will be in 120years from now..

What I find amazing and crazy is all the companies like celsius and 3arrows who made bets as if they were listening to that keiser chap. Or even Saylor.

They were going beyond Keiser and Saylor and some of the stuff they were doing were pure scams.. so you seem to be making pretty bad comparisons if we were to want to actually attempt to get into details about what was going on.

The losses they have made is spectacular.
Imagine if you had listened to Saylor and put a million in at 40 or 60k - right now you would not be impressed or happy.

Saylor is doing o.k.  You better try to tailor to your own approach rather than blanketly listening to someone who has different circumstances than you.

I guess you are one of those programmer types who is really into bitcoin. Thats fair enough.

I am not very technically sophisticated, so I still have some difficulties with some of the technical aspects.. including programing.. though I do like to see some of the technical discussions, but it usually does not take very long before they go over my head.

I lost a lot with bitcoin from early years to hacking, and all sorts.

I lost coins to hacks and other ways too, including some issues with exchanges, and it seems that the longer that we are into bitcoin, then we are likely to have had come across some of these kinds of situations.. especially if we end up wanting to get involved in some of the bitcoin ecosystem beyond merely stashing coins into cold storage.. and even some guys lose coins in cold storage because they might make systems that are too complicated for their own recovery.  Being your own bank is not always an easy road forward.

Another common mistake is getting distracted into shitcoins, and I tend to be pretty vocal in terms of trying to avoid that, so in that regard, I mostly try to stay away from the shitcoin discussions - even though it seems inevitable that many of us will get exposed to that nonsense merely be being in the space. .and there is also a lot of convoluted mixing up of bitcoin and shitcoins because many shitcoins do that on purpose to pump their coins, but also there are likely powers that be (institutions and governments and even those stupid-ass venture capitalists who are pumping and dumping onto retail) who also engage in such purposeful convolution of the bitcoin topic.

I am no longer that into it as I was before - its been ten years. Gox was the main exchange once and I thought the eastern european Bistamp would hack me not the Japanese. It turns out the Japanese was Mr Karpeles who eats bitcoin. Lost my life savings.

Karpeles was probably not an evil person, but he did end up biting off a lot more than he could chew.. so it was a bit of a mess and still continues to linger.. like a bit of a black shadow, but it is also still a decently large part of bitcoin's history to attempt to learn from those kinds of matters... even though some folks learn in more personal ways than others.

I do think btc promotes hoarding, and what would be perfect is something that can not be stolen, or seen by the government.

I don't know how you can get anything much more perfect than bitcoin.  I mean it is what it is, and it is amazing if you really try to understand what it aimed to do and what it is doing, even after nearly 14 years in existence.

There is still nothing that even comes close to bitcoin in terms of an ability to decentrally hold value and to pretty much be able to send it anywhere in the world without anyone being able to do shit about it.  Sure, there are technical aspects that are pretty complicated, and there are even user-interface matters that continue to be complicated, even after nearly 14 years of existence...

I like to try to appreciate matters for what they are rather than what I wished them to be, so if we look at bitcoin and we attempt to understand it and to work with it for what it is, then what are we going to do?  buy some or refrain from buying any?  I think that everyone should at least buy a bit.. and be whimpy 1% of your investment portfolio.. and forget about it, even though DCAing would be better, but you can choose your amount. $100 per week or $10 per week or some other amount.. and then in the beginning maybe holding what you have on exchanges is acceptable, but yeah it can be kind of risky too if something like Celsius, Voyager or one of the others goes belly up.. then you are fucked... or at least quite likely to be fucked... and even some bitcoiners got caught up in the Tera/Luna/Do Kwan bullshit too.. because they thought that bitcoin's built in pumpamentals was not enough.. hahahahhaha.. they wanted to earn yield.. fuck that.. they wanted 4%, 8%.. 12%.. 20%?.. .. Yeah, the lower yield levels seem more possible, but if you invested in Voyager and got 4%, then Voyager claimed that they were being prudent with your money, and they sent 58% of all assets in their possession to 3AC without getting any collateral from 3AC, which amounted to about $640million dllars on a personl loan to 3AC because Voyager wanted to earn 20% while they were paying their clients 4%.. scammy as fuck and some of those guys should be in jail even though they are lawyered up to the brim.

So, yeah we should attempt to realize that it is better to attempt to hold our own keys (at least the majority of our own keys), and realize that any third party may well be gambling with your funds  if you leave your funds with them.

You better be careful if you presume bitcoin to be broken merely because there were rich ass fucktwats gambling with it and gambling with client's money, and in the end, both innocent and guilty folks got purged from their coins, and they were even double accounting for quite a few of coins that they did not even have.  People who hold their own keys suffered BTC price depreciation based on the gambling of others, but what's going to happen from here?  Bitcoin could go up or it could go down, but still seems like a good investment to me.. even if it might go down some more for a period of time.. but it might not as well.  You gotta figure out your allocation, and it seems that having some allocation is better than having none.. but the level of your allocation and the whether of your getting involved remains your choice.

I also feel the biggest reason the Fed allow btc to continue is due to the fact they can see every transaction on the ledger.

It's like a Trojan horse no?  Can they stop you from sending a million to Iran or to North Korea?  I am not advocating the breaking of any laws.. I am just asking a question.  What if you use lightning network?  What if you have a lot of small transactions are they going to be able to keep track of all of your purchases like credit cards?   And, really do you think that the Fed has much of a choice in terms of game theory?  What if they "did not allow" bitcoin to continue to exist?  What do you think would happen?

Yes, the "Fed" might play that "you no longer exist" card, but I doubt that it would go very well for them, and that is why they have to engage in more passive-aggressive divide and conquer behaviors... .. so does that mean you buy some or you stay out of it?  That's your choice.

If every crypto was without public ledger - highly likely they would all have been banned.

You sound mixed up here.

The only reason any other crypto exists, beyond bitcoin is because bitcoin is a difficult nut to crack.  Bitcoin is the only threat to the status quo or the powers that be, and not all the powers that be believe bitcoin is a threat, and some of the powers that be believe that it would be better to have bitcoin... so it is not an open and closed case, for sure.

It's basically auto compliance reported by the ledger. I no longer feel bitcoin or crypto is perfect in that regard.

Fuck crypto.. who gives any shits about that?

Focus on bitcoin..

By the way, regarding your point about bitcoin's design choice to be public, there is a lot of rationale that bitcoin gains a quite a bit of its credibility because everyone (or anyone) has the ability to verify what the fuck is going and to verify every single satoshi that exists.  They can do such verification with about $200 in hardware.   Pretty powerful, don't you think?  

You might want to get some, in case it catches on.. hahahahahahaha
member
Activity: 560
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Eloncoin.org - Mars, here we come!
August 25, 2022, 08:56:58 PM
Hello everyone, today i want to tell you about my crypto-depression.
So in 2010 i was working in IT company and my friend from work told me about bitcoin mining.
Next day after this information i register on this forum and start mining coins, everything going perfect but bitcoin price was really low and unstable.
I was investing everything in gpu. Couple times i lost my fund's on scam-exchange but i still had a lot of "mining power".
In 2015 i quited my job and invest my whole savings in bitcoin, in that time i had more than 15 bitcoin's and gpu worth 20k$.
And after 2 or 3 week's everything fucked up, in same time i lost my job and my wife get sicked.
In Nov 2015 i selled everything but still i had -$$$$ to pay, so you probably asking why i made this post?

Now after 6 years i have biggest depression ever, if i only burrow money from somewhere 5 years ago and didnt sell my miners...

I have feelings that i lost my biggest life chance to get really rich and i just want to forget about crypto and work in normal work but it is impossible.
It's hurt much more if you can see that your old crypto-friend's get cars and houses from crypto profit, i wonder if someone have some feeling's as me.


First of all, I am sorry for the sad and bad experience you faced here when you entered the cryptocurrency industry. And you also put out quite a lot of investment when you started here, and everything you put out ended up in nothing. 15 bitcoins is too much amount right now if I calculate the price of bitcoin currently. A little, it's depressing, but still, cheer yourself up, I believe that all bad experiences have a good reward in the end. And from what I see in you, you will overcome this test in your life.
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
August 25, 2022, 08:04:10 PM
One of the best remedies towards getting over those psychological difficulties is some form of DCA strategy and long term approach... because lump sum investing is too scary for them and seems to lure them into a gambling mentality... and also a mentality that focuses too much on short term profits/losses - that inhibit the better options of just continuing to accumulate on an ongoing basis.. DCA is best and buying on dips is the second best, but they first have to get over their psychological hurdle and just get the fuck started to even be able to overcome their seemingly reasonable difficulties of getting back in (or just getting in and getting in sufficiently aggressively with perhaps a whimpy start.. but a whimpy start is likely better than failing/refusing to act).
This is what I still do not with DCA, I choose the option to buy when the price is down maybe for you this is the second option but I'm good enough to do like this I don't know what the name of the strategy is because everyone knows buying when it's down is a good choice for increase bitcoin as long as you can buy it.
But it seems I have to think psychologically for this, because after all I have BTC proceeds from buying when it was low.

Of course, there is nothing wrong with tailoring your BTC accumulation strategy to your own situation, and it is likely much better to do so.  One of the reasons that I continue harp upon DCA as the best of strategies is because it can help to get newbies started right away, and it is also a very good strategy for people who have been in bitcoin for a long time but just do not want to spend a lot of time trying to figure out what to do in terms of buying on dip or lump sum investing, and it is also amongst the better ways to NOT run out of cash because the DCA strategy should be applied in amounts that fit with the budget of the BTC accumulator and maybe tweaked from time to time when cashflow changes happen or other relevant changes happen in personal circumstances.

It can take a whole hell of a lot of time to merely figure out what would be a good DCA amount and frequency, because ultimately NO one should be investing in bitcoin or anything else if they have not sufficiently figured out their personal circumstances, including how much extra cash that they have available on monthly basis to be able to invest in bitcoin or anything else.

Don't get me wrong, I am asserting that it is a very important thing for every investor to figure out their personal circumstances prior to investing anything, but at the same time, I am not proclaiming that the perfect should be the enemy of the good, and so many times there will be situations in which a person can get started investing in bitcoin right away prior to figuring out their personal details... and so DCA would be good with those kinds of situations too.. and in the meantime as they get started investing some amount that they can ballparkedly assess to be ok..  they can adjust their amount and their strategy later after they get a chance to figure out their finances a bit better, and at the same time, figuring out personal financial circumstances is likely an ongoing thing that can be learned, applied and tweaked on a regular basis.  I have been doing it for more than 30 years, and I am still learning how to do it better and to make various adjustments from time to time.

Regarding your point about preferring buying on dips, there can be some truth that buying on dips works out better for you, and maybe that has to do with your having had already accumulated some BTC and so you are feeling less urgency (or maybe flexibility is a better way of saying it) in reaching various accumulation goals that you have.  For sure one of the risks of attempting to be too smart in trying to time the dips is that sometimes the dips that you expect to happen do not happen, and then you might get fucked because you are holding on to way more fiat than you would have had preferred to be holding onto.

As long as you know the trade offs in regards to waiting for dips, then there is no problem with your continuing to prioritize such buying on dips approach.

Another way to deal with the dilemma is to set various maximum holding of fiat thresholds, and that would most likely depend on your circumstances - including how many BTC you have already accumulated - but you could say to yourself that you will hold up to $5k for buying on dips and if you accumulate more than $5k, then you are going to buy with that extra amount.  So then at that point, you will be attempting to take into account that if the BTC price goes up rather than down, you may well still be holding that $5k and the price might never come back down, and you can consider for yourself if that would be an amount that you would be o.k. to keep in fiat.. in the event that the price never comes back down.

You can likely appreciate from my example that each of us are likely to establish different price amounts that we might be willing to hold depending on how much BTC that we already have accumulated, how much BTC we have already bought within a certain price range in which we still might be moving, and including considering each of the other individual factors that I had already mentioned and will likely be different for each of us.  In other words, there is no exact correct answer, but there might be some balances and tradeoffs that are smarter than others... and those are within the discretion of each of is to figure if we have done enough work on strategizing what we are going to do on a regular basis versus what are we going to do if the BTC price goes up or down.

But I'm a little interested in talking about DCA from you because I haven't started it yet so I want to know about this strategy, maybe some people have started a long time ago a few years before the price went up high, even if I start now it's still worth it?

I looked at your forum registration date and you have been registered on the forum for nearly as long as me.

Accordingly, it is not easy to answer the question for you more than my attempting to provide some examples, and you are surely free to share some of your circumstances (you do not need to give any exact numbers that disclose a lot of personal details, and you can also present a kind of hypothetical person too), and if we work with some details then it might be easier to attempt to describe some of the tradeoffs - because surely the strategy that a person who has been into bitcoin for a while might be different from a newbie, but sometimes some people who have been into bitcoin for a long time have failed/refused to sufficiently and adequately focus on their BTC accumulation strategy, so sometimes guys/gals in those situations may well be better served by attempting to employ a strategy that is more like they are a newbie because they have not been very successful in terms of accumulating a meaningful and substantial BTC stash that even feels like enough for their own perceptions of their circumstances.

We could create a hypothetical person to discuss, and we can use round numbers.  If we say that the hypothetical person had $100k quasi-liquid investment portfolio, and then the question might be what is the target level to have in BTC? 

Prior to March 2020, I used to suggest having 1% to 10% in BTC, but after March 2020, I started to recommend aiming to have 1% to 25% in BTC, but you still have to choose a specific number that you want to shoot for depending on if you are whimpy about bitcoin or you are bullish about bitcoin, and if you are whimpy then you would shoot for the lower end of the range and if you are bullish about bitcoin, then you would shoot for reaching the higher end of the range.

When I got into bitcoin in late 2013, I had not really figured out what my BTC target accumulation was going to be, but after I was into BTC for about a year, by late 2014, I figured out that my target level was going to be 10%, so I largely met my 10% target by late 2014, yet if you might recall, the price of BTC was pretty damned low throughout 2015, so by the time the end of 2015 came, I had ended up continuing to buy BTC and I ended up reaching something like a 13.5% BTC allocation level in terms of my then total quasi-liquid investment portfolio.  Once I reached my target, my strategies changed, so there sometimes can be difficulties for guys to either get to their BTC accumulation target level, and then maybe there still might be some need to change their target level goal in order to tailorize their BTC accumulation target level to their own situation that they might perceive themself as being quite a bit more informed about their own situation after they had gotten close to or surpassed their first goal.. so once they reach their first goal, they end up rethinking their goal and to start to believe that maybe their goal should be something different than what it had previously been.

I will consider the allocation if possible, weekly, biweekly or once a month, the important thing is that the bitcoin income into the portfolio is there every month to be accumulated.

There are a couple of things that I do that seem to be helpful on this point.  First, I have had a tendency to project my cashflows out a couple of years in advance on an Excel spreadsheet, so I can see how much much money I have available for investing into bitcoin on a monthly basis.  Second, when I first got into bitcoin in late 2013, I had given myself a 6 month budget that was a certain amount of money, and I divided that amount by 26 in order to give myself a weekly allowance.  Each week I tried to strategize buying on dips, but if I had not spent the whole amount of my allowance by the end of the week, then I would just buy at whatever price just to make sure that I spent that allowance amount for the week.

During my spare time for those first six months, I tried to study the application of my own strategy, and also to study happenings in bitcoin, and when the end of the first 6 months started coming close, I pretty much authorized myself a similar sized budget for the subsequent 6 months... and so by the time the end of the second six months came, that's when I figured out that my target was going to be 10%, even though I ended up going up to 13.5%-ish by the end of 2015.   I made some other changes to my BTC approach in mid-to-late 2015 too, but those mid-to-late 2015 changes to my BTC approach had to do with my having had already been studying the matter (and my own particulars) for more than a year and a half...
 
But it seems I have to think psychologically for this, because after all I have BTC proceeds from buying when it was low.

Yes.. your approach will surely need to be modified in order to attempt to account for your particulars including but not limited to how many BTC you had already accumulated, and also considering what kinds of targets that you would like to reach.  Perhaps the psychology will kind of take care of itself if you establish a solid plan, but I will assure you that there are frequently going to be situations in which there are uncertainties regarding how to make sure that you are attempting to address both the financial matters and the psychology too.

I believe that I have learned NOT to panic as easily as I had previously, and I believe that I have been fairly successful in that direction, but still there can be circumstances in which BTC price performance (including various extremes) can end up testing your psychology and even realizing that if you reassess the situation and change some of your planned strategies, then you will feel a lot better...  For example, this last time around, after BTC price dropped below $35k in early May-ish, it seems that I had to readjust my plans at leas 5-6 times, and usually (in recent times) I do not tend to change my plans very frequently, but BTC prices ended up going down way further beyond extremes points that many of us expected (including yours truly). 

One of the risks, and maybe even stressful points of being involved in investing in such a volatile asset like BTC does end up having to go through extremes, and figuring out whether the plan that is already in place is sufficient, or if tweaks might need to be made in order to help financially, and/or psychologically.
jr. member
Activity: 33
Merit: 3
August 25, 2022, 07:57:24 PM
I guess you are one of those programmer types who is really into bitcoin. Thats fair enough. I lost a lot with bitcoin from early years to hacking, and all sorts. I am no longer that into it as I was before - its been ten years. Gox was the main exchange once and I thought the eastern european Bistamp would hack me not the Japanese. It turns out the Japanese was Mr Karpeles who eats bitcoin. Lost my life savings.

I do think btc promotes hoarding, and what would be perfect is something that can not be stolen, or seen by the government. I also feel the biggest reason the Fed allow btc to continue is due to the fact they can see every transaction on the ledger. If every crypto was without public ledger - highly likely they would all have been banned. It's basically auto compliance reported by the ledger. I no longer feel bitcoin or crypto is perfect in that regard.

jr. member
Activity: 33
Merit: 3
August 25, 2022, 07:40:12 PM
What happens when all bitcoin are mined and demand peaks? Will the price still go up? Always wondered about this scenario.
What I find amazing and crazy is all the companies like celsius and 3arrows who made bets as if they were listening to that keiser chap. Or even Saylor.
The losses they have made is spectacular.
Imagine if you had listened to Saylor and put a million in at 40 or 60k - right now you would not be impressed or happy.

hero member
Activity: 1498
Merit: 785
August 25, 2022, 06:33:32 PM
One of the best remedies towards getting over those psychological difficulties is some form of DCA strategy and long term approach... because lump sum investing is too scary for them and seems to lure them into a gambling mentality... and also a mentality that focuses too much on short term profits/losses - that inhibit the better options of just continuing to accumulate on an ongoing basis.. DCA is best and buying on dips is the second best, but they first have to get over their psychological hurdle and just get the fuck started to even be able to overcome their seemingly reasonable difficulties of getting back in (or just getting in and getting in sufficiently aggressively with perhaps a whimpy start.. but a whimpy start is likely better than failing/refusing to act).
This is what I still do not with DCA, I choose the option to buy when the price is down maybe for you this is the second option but I'm good enough to do like this I don't know what the name of the strategy is because everyone knows buying when it's down is a good choice for increase bitcoin as long as you can buy it.

But I'm a little interested in talking about DCA from you because I haven't started it yet so I want to know about this strategy, maybe some people have started a long time ago a few years before the price went up high, even if I start now it's still worth it?
I will consider the allocation if possible, weekly, biweekly or once a month, the important thing is that the bitcoin income into the portfolio is there every month to be accumulated.
But it seems I have to think psychologically for this, because after all I have BTC proceeds from buying when it was low.
legendary
Activity: 3094
Merit: 1127
August 25, 2022, 06:18:35 PM
When you are on of the early adopters.Then those Bitcoins you possessed or owned on that time might;

1. Sold early
2. Lost Hardrive/ Lost wallet
3. Hacked/Scammed

You would really be having the feeling of regret if you do compare those early years prices to now
where we do really able to see on how high it do able to reach out but since there's no way on predicting or knowing the future
then lets just accept the fact that we do missed out a big opportunity on getting rich but its not the end of the world.
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
August 25, 2022, 06:06:06 PM
[edited out]
You are not Michael Saylor are you?

Of course not.  I have my own story, and largely you can see my story at various points in my posting history on the forum.

For sure, Saylor has his own and interesting story, and even though he is a relatively newbie to bitcoin, he picked up on bitcoin quite quickly, and even started to engage in a lot of efforts to publicly talk about what he and his company were doing in regards to bitcoin.  Some aspects of his strategies are similar to my own, but surely some of them are a bit more aggressive than what mine have been historically, and I have  been somewhat critical of some of his strategies, while at the same time attempting to recognize and appreciate that each of us tailor our strategies to our own situations - including that some people choose not to really get involved in bitcoin in spite of knowing about it, and surely a lot of people seem to believe that they know way more about bitcoin than they actually do.

My investments are not really your business.

Of course, we are posting in a public thread, so you can choose how much you disclose - and what kinds of topics that you bring up (or with what kinds of information you provide).


You seem butt hurt a lot. Not sure why.

Maybe I "seem butt hurt" because you are imagining such a thing?

Maybe you are "not sure why"  because you are imagining such a thing?

I sold my Gox claim for btc and sold that btc at 60k. Not bought back in yet.

Why are you telling me about your "investments" if they are "none of my business?"  

Did you want to tell me more, or just tell me about the parts that you feel worked out well for you, so far?

You seem to consider this as a kind of competition, and I would suggest that each of us should be attempting to tailor our approach to our own circumstances, and there is not necessarily an objectively better way of managing one's investment portfolio - but there are likely some practices that are better than others in terms of attempting to balance how to attempt to reach financial and psychological objectives...

Some folks are going to be more practiced in terms of weighing their various personal factors, and I will just repeat for the sake of clarity that each of us whether an individual, institution or even a government that gets involved into investing into bitcoin should at least attempt to account for:  cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, time, skills and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

....many people do not believe in the magic of bitcoin and even those who used to hate or distrust it are more devastated and regret it more.

You are correct bitzizzix that a certain level of bitterness seems to develop from people who did not invest in bitcoin, under invested in bitcoin and/or sold too many too early.

It is not an easy thing to overcome because so many folks in those kinds of categories have psychological difficulties to buy at prices that are higher than earlier and/or higher than prices that they had sold.

One of the best remedies towards getting over those psychological difficulties is some form of DCA strategy and long term approach... because lump sum investing is too scary for them and seems to lure them into a gambling mentality... and also a mentality that focuses too much on short term profits/losses - that inhibit the better options of just continuing to accumulate on an ongoing basis.. DCA is best and buying on dips is the second best, but they first have to get over their psychological hurdle and just get the fuck started to even be able to overcome their seemingly reasonable difficulties of getting back in (or just getting in and getting in sufficiently aggressively with perhaps a whimpy start.. but a whimpy start is likely better than failing/refusing to act).
hero member
Activity: 2310
Merit: 532
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
August 25, 2022, 04:58:01 PM
Similar hidden stories are found with number of forum users. Nothing gonna happen on remembering it, for that reason everyone keeps moving god have got different plan for us. No worries opportunity missed is always missed, next time we'll get it through some other means. We need to know it is N opportunity and make use of it.

Atleast here it is about bitcoin in small number compared to the persons losing in thousands secured on hard drives.
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
August 25, 2022, 04:51:43 PM
Bud you're in the same boat as many of us.  Countless users here have absolutely "blown through" bitcoins.  But many of has had no idea it would take off like it did even though we had all sure hoped it would get there.  You can't change the past, only the future so simply stop dwelling on the past and make positive moves forward.  Best of luck.

At least he has a story to share. Many people lost money in a stupid way. They drank it all away, spent on women, bought cars and crashed them, that hurts even more than selling bitcoin before the price went up.

You never know what's going to happen and your perspective can change many times over a period of time. Those who sold in 2021 when the price went to 30k thought they're doing the right thing. Then they regretted it when we reached 70k. Then not regretted it anymore when we went to 18k and in a year they'll probably regret it again when we go above 30k.
rby
hero member
Activity: 742
Merit: 611
Brotherhood is love
August 25, 2022, 03:04:25 PM
Op, your experience is painful. And believe me many people are going with bounch of such stories but they either decided to hold it to themselves or they have gone over it but life goes on still.
I have my own stories and likewise majority of early adopters. Not all believed bitcoin but bitcoin proved many wrong. If you said you sold you btc, I wouldn't blame you because btc is supposed to be a currency for buying and selling. But your mining facilities though. But you can forget about your friends class and replan yourself.
sr. member
Activity: 2366
Merit: 448
Enjoy 500% bonus + 70 FS
August 25, 2022, 01:35:30 PM
If you remember bitcoin's journey, I think many people regret not being able to make the most of that time, but the past can't go back. And for another reason because bitcoin is not easy to predict and only long term can give such great results.
we can start from now and hope time can repeat itself and even though the price is now very expensive we can buy it gradually with every drop and buy according to our ability, bitcoin is a future that has the potential to bring good and happiness on future journeys. So it's never too late to repeat the past because the future is long and most likely the past will repeat itself and don't waste it.
and many people do not believe in the magic of bitcoin and even those who used to hate or distrust it are more devastated and regret it more.
jr. member
Activity: 33
Merit: 3
August 25, 2022, 06:58:42 AM
Sounds like a good plan to me buddy.
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