The mistake I made some years ago - page 3.

Oilacris

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Quote from: DaNNy001 on January 09, 2023, 06:12:08 PM

Well first of all sorry for your losses but this experience is kinda normal with many folks here in the forum during their early years of knowing bitcoin. A mistake is unavoidable in the life of a human and its also part of the learning cycle because the best lessons is always learnt when we make mistakes but all together i just hope you have learnt from your mistakes.

But you can still atleast try to gather enough btc again seeing that market now is low, you can buy at a low price now and hodl it till btc goes up again. Like you said no one knows when the price is going to pump up again so stop regretting and just keep hoarding enough btc you can get your hands on to because the time is coming when people that Missed this golden opportunity will also lament and say this word of regret "how wish i knew it will rise again ". So buckle up and start buying bro the future is bright.

Yes, im also into that path on which i have really waste up lots or tons of coins back in the past due to those hyips and ponzi that we do have specially on 2016-2017 years where the market is been
flooded out by lots of these schemes and since im just a noob back then and im that greedy when it comes to making money or minding on making myself rich then im really that pouring all
of my money out of those investments and ended up on being scam, until i do make myself that knowledgeable out of those experience.Yes, it is really that regretful that
you are really that losing tons of potentially make huge money due to market increase but its never too late to go back to square one.

Ryu_Ar1

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Quote from: TheUltraElite on January 09, 2023, 11:38:40 AM

Quote

Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.

Definitely worth it, prices are having a upward trend today and so my views are bullish for now but let us await a few more days before confirming that. Even if not doing DCA we can buy low and then sell high keeping our patience over the holding period.

Of course bitcoin might no longer be in dirt cheap prices unless something huge goes wrong, but we can accumulate at lower prices and continue selling when it hits all time highs.

Right now what we really need is to just wait and it depends on your patience whether you are ready for this or not but I think when we are sure to be here we should be ready to wait because this is part of the risk we have to live with.
On the other hand, regarding DCA and waiting to buy at a lower price, I don't think it's a problem, but on the other hand, it also depends on conditions, I think.
I am not too technically savvy and am still in the further learning stage so rather than waiting for something that is not too certain for me it is better to be at DCA because it is still worth it for myself. Of course if bitcoin is still going to rock bottom that's even better because I can buy more of it than before.

DaNNy001

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Well first of all sorry for your losses but this experience is kinda normal with many folks here in the forum during their early years of knowing bitcoin. A mistake is unavoidable in the life of a human and its also part of the learning cycle because the best lessons is always learnt when we make mistakes but all together i just hope you have learnt from your mistakes.

But you can still atleast try to gather enough btc again seeing that market now is low, you can buy at a low price now and hodl it till btc goes up again. Like you said no one knows when the price is going to pump up again so stop regretting and just keep hoarding enough btc you can get your hands on to because the time is coming when people that Missed this golden opportunity will also lament and say this word of regret "how wish i knew it will rise again ". So buckle up and start buying bro the future is bright.

EarnOnVictor

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What you just posted here reminds me of the naivety that befell me in the early times I knew about crypto. I had far more Bitcoin and other crypto transactions than you, to the point that almost all the companies that were paying me for my services between 2016-2022 paid with crypto. But I was just exchanging it for fiat then until last year when I joined BTT and become serious with my trading and investment of coins.

This is painful, and I don't want to think back regarding that, and you should just let go as well.

erep

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Quote from: sokani on January 04, 2023, 08:41:32 PM

Today, I was browsing through my phone and I stumbled on my blockchain.com wallet and I decided to check it out, lo and behold the value of the BTC in my wallet left me with mixed emotions. I was happy being that even in bear market, the BTC that I bought at $20.98 has appreciated to $566.11 and also I was sad because I wish I had invested in BTC instead of the pyramid scheme.

Ponzi schemes for greedy people get unreasonable profits, they deposit assets without considering the losses and fraud from ponzi schemes, but unfortunately profit is a choice to blind the mind to think. I have a different analysis from the OP case above that he has trusted a friends suggestion to invest ponzi based using Bitcoin and but he doesn't really have any bitcoins in his wallet other than just to use the deposit to the ponzi platform address, he doesn't even have any remaining balance from his wallet until now, so Op still lost $20 at the bitcoin price at the time and didn't have to remember losing $566 due to overestimation was painful.

TheUltraElite

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Quote from: Ryu_Ar1 on January 05, 2023, 08:11:21 PM

I think this condition or buying bitcoin at the same price as you bought few years ago will never even happen again for now because it is very impossible to happen.

Buying into a ponzi is happening everyday and the victims are mostly newbies who are in for some quick cash. The ones spreading such scams are the affiliate marketers and they only want their 10% commission and have sold their morality for it.

Quote

Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.

Definitely worth it, prices are having a upward trend today and so my views are bullish for now but let us await a few more days before confirming that. Even if not doing DCA we can buy low and then sell high keeping our patience over the holding period.

Of course bitcoin might no longer be in dirt cheap prices unless something huge goes wrong, but we can accumulate at lower prices and continue selling when it hits all time highs.

Just dont end up giving your money to someone who promises extraordinary claims.

BALIK

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Quote from: Yatsan on January 05, 2023, 07:34:28 PM

Many of us for sure have made the same mistake and we really cannot do a thing about it. Bitcoin and this technology was less appreciated before simply because it is still a new 'thing' in the world of currencies. Potential is there indeed but in order to appreciate something you have to see it first. Why do we think there are people who sold early? because they don't know that its market price could be as high as we've witnessed. If they do know before for sure they won't and that's something we cannot change from the past. What's done is done. But why are people hesitating to buy at the present if there are chances for a higher market value in the future? 'coz no one is certain of it. If we would observe, we're on the same position as before.

It can be said that what OP went through is also what investors from 2013 and 2014 went through because, at that time, Ponzi projects were trendy and it was not unusual for us to invest in them. But in my opinion, there is no regret because no one knows the future, if everyone knows bitcoin is as successful as it is today, we are all dollar millionaires.

You're right, rather than regret, why don't we invest now when everything is still very cheap if we look 10 years into the future? The opportunity is still there and whether we continue to miss it or take it is for us to decide.

Ryu_Ar1

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Quote from: sokani on January 04, 2023, 08:41:32 PM

I didn't buy Bitcoin until 3 years after. I really missed that golden opportunity to get it at such rate. Well the good news is that... The bear market is a good time to fill my bags and I got myself some BTC and I'll hodl unto it. You never can tell what price BTC could hit in the coming years.

I think this condition or buying bitcoin at the same price as you bought few years ago will never even happen again for now because it is very impossible to happen.
But on the other hand, instead of regretting what has happened, I think it's better now to create new conditions where you really have to focus on the present and the future.
Maybe not as cheap as a few years ago, but right now I think it's still worth it to buy bitcoin, especially with the ongoing bearish conditions, there's nothing wrong with DCA from now on.
Regret will not make changes to anything now, let the past be memories and experiences, because the future still awaits our struggles and self-determination.

Ultegra134

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Quote from: BitcoinPanther on January 05, 2023, 07:14:46 PM

Quote from: AmoreJaz on January 05, 2023, 07:00:36 PM

Quote from: Ultegra134 on January 05, 2023, 06:15:32 PM

Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

we have had our own share of moments like this. but what if you spend your btc at important things like bills or food? you may regret it today but if it helped you significantly before, then for me it was already worth it. no one knew that btc will hit a very good price. so if you think there's bright future for btc, why not start collecting some satoshis again?

Hopefully, what @OP writes echoes to other people who has yet experienced the things he experienced. Investing in Bitcoin is very good but investing in ponzi scams are way more too bad. I can see that @OP not only wanted to share his Bitcoin experience which he regreted not investing fully on it during 2016 but to share with us how he made a mistake participating in pyramiding ponzi scam that not only eats his Bitcoin but also make him idle for some time until he realized that Bitcoin is really essential as an investment.

Bitcoin wasn't as acknowledged in 2016 as it is now. Let me also point out that there are still people claiming that Bitcoin and cryptocurrencies in general are a huge Ponzi scheme. With that being said, I don't blame OP for going for not getting involved earlier, but pyramid schemes aren't new by any means. Although the OP might feel stupid or taken advantage of, he's not the first and certainly not the last victim of such schemes. The point from such stories is to learn from your past mistakes in order to avoid repeating them in the future.

I also spent some time in a Ponzi so-called cloud mining scam back in 2014, I earned a few bucks and was lucky enough not to deposit any money there. It didn't even last two months.

Yatsan

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Many of us for sure have made the same mistake and we really cannot do a thing about it. Bitcoin and this technology was less appreciated before simply because it is still a new 'thing' in the world of currencies. Potential is there indeed but in order to appreciate something you have to see it first. Why do we think there are people who sold early? because they don't know that its market price could be as high as we've witnessed. If they do know before for sure they won't and that's something we cannot change from the past. What's done is done. But why are people hesitating to buy at the present if there are chances for a higher market value in the future? 'coz no one is certain of it. If we would observe, we're on the same position as before.

BitcoinPanther

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Quote from: AmoreJaz on January 05, 2023, 07:00:36 PM

Quote from: Ultegra134 on January 05, 2023, 06:15:32 PM

Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

we have had our own share of moments like this. but what if you spend your btc at important things like bills or food? you may regret it today but if it helped you significantly before, then for me it was already worth it. no one knew that btc will hit a very good price. so if you think there's bright future for btc, why not start collecting some satoshis again?

Hopefully, what @OP writes echoes to other people who has yet experienced the things he experienced. Investing in Bitcoin is very good but investing in ponzi scams are way more too bad. I can see that @OP not only wanted to share his Bitcoin experience which he regreted not investing fully on it during 2016 but to share with us how he made a mistake participating in pyramiding ponzi scam that not only eats his Bitcoin but also make him idle for some time until he realized that Bitcoin is really essential as an investment.

TribalBob

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every past mistake must provide a useful lesson in the future,
avoid ponzi schemes, try it yourself by saving don't be tempted by someone's reward
rest assured you will get your own benefits in investing even though it is small but safe

AmoreJaz

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Quote from: Ultegra134 on January 05, 2023, 06:15:32 PM

Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

we have had our own share of moments like this. but what if you spent your btc at important things like bills or food? you may regret it today but if it helped you significantly before, then for me it was already worth it. no one knew that btc will hit a very good price. so if you think there's bright future for btc, why not start collecting some satoshis again?

Oceat

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It seems like we all have in common but what is important is we learned from those mistakes and never forget those important lesson. That was the most common mistakes of a newbie who doesn't have a certain knowledge about how the real world will corrupt you.

Those ponzi, doubler, and pyramid are most common mistakes when we're being introduced in crypto especially in Bitcoin. I myself had a fair share of mistakes when someone invited me to join on something that I don't know, though I've lost some money but fortunately, it's not that big but it's unfortunate if you look at the price before and now there's a slight regret. Cheesy

Ultegra134

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Don't worry; we've all been in the same position, myself included. I was first involved in Bitcoin somewhere in 2013 or 2014, earning petty amounts from faucets and PTC websites that a few years later would be worth a fortune. On top of that, I had also bought 0.30-0.40 BTC for less than $100; I don't remember exact amounts, but you get my point. All of it was wasted on dumb online stuff, including gaming accounts. Not only did I waste my purchased Bitcoin, but I also spent the majority of what I earned through various sources.

Do I regret it? Yes and no; on the one hand, I couldn't have known while I was a simple teenager with no major knowledge; on the other hand, my main regret is not sticking with Bitcoin then and abandoning it until 2017.

seoincorporation

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I know how you feel sokani, a lot of friends come to me telling me one of those pyramid stories, looks like is the way that lot of people get introduced, to cryptos. But it's sad because after getting scammed they don't want to know more about cryptos. And that's why I always tell them to invest direct in bitcoin or altcoins and not in pyramidal schemes that always have a sad end.

Yamifoud

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The pyramid scheme is also known as a quick-rich scheme where many people got to fall into this kind of investment because it looks promising and tempting. I can relate to that situation OP because one of my friends got also into that scam and even tried to invite me but lucky because I have no money at that time, I didn't join him. We will just know a few days that the founder has been arrested because of a scam issue and money laundering.

That is the beginning of why many people think that Bitcoin is a scam investment because many people use the word "bitcoin" to scam people.

justdimin

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Quote from: LogitechMouse on January 05, 2023, 04:53:48 AM

I'm pretty sure we all have the same mistakes that we've made years ago.

I didn't lose the Bitcoins that I bought thru a pyramid scheme, but I lost the Satoshis that I got from faucets in a cloud mining website that turned out to be a scam. It might sound funny but if only I kept all of my earnings in faucets and decided to hold it until now or at least at the peak of 2021, I might've earned some huge money for free just by solving those captchas and holding it for a very long time. Unfortunately, I was a newbie back then and I learned from it. Aside from that, it's also my last time that I tried to do faucets and didn't do it until now.

For sure, we've all made some huge mistakes in the past. Things like "A friend introduced you to Bitcoin years ago and you ignored it..." or "I sold my Bitcoins that I bought years ago and if I held it for a longer period of time, I might've got more profits..." etc. We can't control it anymore because it's the past but what we can control is our future. Learning from our mistakes is the best thing to do. Making better decisions for the future is the best thing to do.

That's right, I have lost so much money while trying to make some money from starting my own crypto exchange and a crypto casino as well, both ventures became a scam hole because whoever I tried to hire just took my money and deleted me from contacts and blocked me. I tried to do so many things where I would pay the person for the job, and they would just leave after that too, even in 2022 as well.

I wanted to hire a web dev to build a simple website, and yet they ended up stealing the money, even though I agreed on 50% upfront and 50% when the job is done, they just take the 50% and leave basically. There are way too many scammers and its hard not to fall for any single one of them.

ethereumhunter

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If I had known what would happen at this moment, I would have borrowed money from my parents to buy bitcoins and kept the bitcoins in a separate wallet. And I will return the money I borrowed from my parents by paying it off monthly. But there is nothing to regret because we cannot go back in time and buy as many bitcoins as possible. We can only keep trying to collect as much bitcoin as possible and store it for sale in the future when the price increases. And we are still lucky to be allowed to start now even though the bitcoin price is now above $ 16k.

Godday

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Very many crypto users have experienced something like you, even they lost such a large asset because of a small mistake they made, but this is all a lesson for all of us in order to be more careful in storing assets and applying security as much as possible Because there are so many people who want to get bitcoins for free even if what they do is not according to the rules, So now we have to bounce back to invest in bitcoin so that all the losses we have experienced in the past can be recovered, if we believe all there must be a way.

Topic: The mistake I made some years ago - page 3. (Read 682 times)