And everyone here right now is still an early adopter.
Looks promising today with gold parity being the headline today.
Time to hold on a little bit and though temptation is out there to sell but I am keeping my promise to hold on for better return.
Topic: Why I failed to make a fortune as an early bitcoin adopter? (Read 26882 times)
And everyone here right now is still an early adopter.
Looks promising today with gold parity being the headline today.
Time to hold on a little bit and though temptation is out there to sell but I am keeping my promise to hold on for better return.
And everyone here right now is still an early adopter.
Looks promising today with gold parity being the headline today.
is it just me or is the article vague and weird?
he says "i was one of the early investors before 2013 when price was $100" and i understand that he made a large investment at that price.
the he continues by saying:
what does that even mean? just because some other group of people bought bitcoin at $0.1 and less doesn't mean HE didn't make a fortune!
someone who has bought right before the Mtgox pump at $100 has obviously made 1100% profit in a very short time.
all i can see is him crying that he made 1100% profit in half a year while others made 10 times that amount in 3 years! i wish i could be sad about such profits in such short period of time!!!!
then in the end
faith is only for idiots and old women in a nunnery.
you need knowledge and experience to be successful.
he says "i was one of the early investors before 2013 when price was $100" and i understand that he made a large investment at that price.
the he continues by saying:
Quote
"... Among early investors, some were even earlier than me, they started with merely several dollars. .... As such, just like stocks, though there were some early stockholders in 1990s, only a small number of people made a profit."
what does that even mean? just because some other group of people bought bitcoin at $0.1 and less doesn't mean HE didn't make a fortune!
someone who has bought right before the Mtgox pump at $100 has obviously made 1100% profit in a very short time.
all i can see is him crying that he made 1100% profit in half a year while others made 10 times that amount in 3 years! i wish i could be sad about such profits in such short period of time!!!!
then in the end
Quote
With faith, investors succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
this is bullshit.With faith, entrepreneurs succeed.
With faith, stockholders succeed.
faith is only for idiots and old women in a nunnery.
you need knowledge and experience to be successful.
Yeah i get your point i am came away form reading this article thinking the same. i dont get the point of it really, what was it like just go with what you think is right because thats what your brain tells you? strange. and yeah the with faith bit is BS.
I don't understand how difficult it is not to get scammed and lost your Bitcoins through gambling and other means. That is why I am always confused when people say they didn't make a fortune by being an early investor of Bitcoin.
It's impossible to project yourself back to the mind set of people who were around in the earliest days. It could easily have turned to dust so anyone selling at $1 having paid 1c thought they were being sensible and financial ninjas.
As for the gullibility for scamminess, no, I don't understand that. I don't care if it's magic internet money, I'm not giving it to anonymous pricks with no comebacks who make ludicrous promises.
I got into BTC in 2013. Everywhere told me Gox was the place to go. I spent five minutes researching it and thought 'what the fuck is wrong with people? Why would they trust this shithole?' and shopped elsewhere.
And everyone here right now is still an early adopter.
Hindsight is 20/20.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
There are ups and down in bitcoin due to its volatile nature and of course when the bubble pops the price of bitcoin will fall back to the ground. But if you just let your bitcoin sleep in your wallet it will go back again in price. The only way for us to really make bitcoin stable and make sure that such event never happened is when the price of bitcoin will rise up to 100k $ each per coin.
I don't think even now it is too late for long-term investments in Bitcoins. There are many more countries who haven't used Bitcoin for it's potential yet. So prices will climb up as they start using it and still you can make fortune with Bitcoins. We must accept finite disappointment, But never loose infinite Hope. 
I would agree on that. Some governments are reviewing bitcoin to legalized for public. If it was approved and be supported by government bitcoin's value would increase as many people would use it for legal transaction. It's very significant to behold for its potential.Yes. It may be a problem for government's because of the decentralized feature of Bitcoin but politicians and other big names have understood the importance and value of Bitcoin much early and invested in it. Most of them know about Bitcoin but kept it secret.
Note: The author of this article, Velaciela, aka V酱, was the Co-founder of Yibite, a bitcoin news site that was founded in 2014 but finished in 2015. The story below is a vivid description of his gains and pains when working for a bitcoin startup. Not every early adopter can take fortune-making ride of bitcoin.
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Bitcoin soared over $1000, hitting a record high as it happened at the end of 2013 and the beginning of 2014.
As an early bitcoin user and investor, or even a so-called entrepreneur, it would be lying to say that I didn’t make a profit from it. But honestly speaking，I am not financially independent or a successful investor though I indeed invested a lot of money in bitcoin and got some opportunities to learn something about the bitcoin blockchain. Therefore, it can be said without exaggeration that my investment in bitcoin is a big disaster.
I never thought I would share my experience with anyone, but it’s just not right to do that, so I’d like to say something about bitcoin and what I have learned from it.
http://news.8btc.com/why-i-failed-to-make-a-fortune-as-an-early-bitcoin-adopter
I don't understand how difficult it is not to get scammed and lost your Bitcoins through gambling and other means. That is why I am always confused when people say they didn't make a fortune by being an early investor of Bitcoin. You literally just have to be patient and wait for the right time to sell, then sell the Bitcoins and make a huge amount of profit, it doesn't seem too hard to me. The author of the article made profit and probably a lot of it, and yet he is still saying that it was a failed investment. I just don't understand. Maybe someone can explain it to me. -------------------------------------------------------------------------
Bitcoin soared over $1000, hitting a record high as it happened at the end of 2013 and the beginning of 2014.
As an early bitcoin user and investor, or even a so-called entrepreneur, it would be lying to say that I didn’t make a profit from it. But honestly speaking，I am not financially independent or a successful investor though I indeed invested a lot of money in bitcoin and got some opportunities to learn something about the bitcoin blockchain. Therefore, it can be said without exaggeration that my investment in bitcoin is a big disaster.
I never thought I would share my experience with anyone, but it’s just not right to do that, so I’d like to say something about bitcoin and what I have learned from it.
http://news.8btc.com/why-i-failed-to-make-a-fortune-as-an-early-bitcoin-adopter
I think it is a common misconception that all early adopters have gotten rich off bitcoin, there have been a few but i have also read many stories like the one in the OP over the years. People don't just get rich for being the first one through the door.
One of the oldest stories about an early adopter that is apparently btc broke now is laslo, he may have spent 10k btc on a couple of pizzas but he did get his 15min of fame out of it and will always be in the history books for being making the first recorded bitcoin purchase.
One of the oldest stories about an early adopter that is apparently btc broke now is laslo, he may have spent 10k btc on a couple of pizzas but he did get his 15min of fame out of it and will always be in the history books for being making the first recorded bitcoin purchase.
some of the are indeed rich, you would be a moron to spend 10k bitcoin or more and don't hold anything until real value kick in, not all of them are asshole that would dump at the first pump and lose the possibility for a real gain
intelligent people should always hold at least 50% of something that has the potential like bitcoin, there still "medium size" early adopters out there, what make you a real early adopter is the ability to hold your coins until the real opportunity come in
What you describe is a common problem with investing
You think wow, i got already +10% and take your money but then it rises to +20% or it could fall down to +0% too.
Have already experienced both scenarios
You think wow, i got already +10% and take your money but then it rises to +20% or it could fall down to +0% too.
Have already experienced both scenarios
is it just me or is the article vague and weird?
he says "i was one of the early investors before 2013 when price was $100" and i understand that he made a large investment at that price.
the he continues by saying:
what does that even mean? just because some other group of people bought bitcoin at $0.1 and less doesn't mean HE didn't make a fortune!
someone who has bought right before the Mtgox pump at $100 has obviously made 1100% profit in a very short time.
all i can see is him crying that he made 1100% profit in half a year while others made 10 times that amount in 3 years! i wish i could be sad about such profits in such short period of time!!!!
then in the end
faith is only for idiots and old women in a nunnery.
you need knowledge and experience to be successful.
Whatever he said on his story, whether you find some parts of it doesn't make sense, doesn't really matter for me.he says "i was one of the early investors before 2013 when price was $100" and i understand that he made a large investment at that price.
the he continues by saying:
Quote
"... Among early investors, some were even earlier than me, they started with merely several dollars. .... As such, just like stocks, though there were some early stockholders in 1990s, only a small number of people made a profit."
what does that even mean? just because some other group of people bought bitcoin at $0.1 and less doesn't mean HE didn't make a fortune!
someone who has bought right before the Mtgox pump at $100 has obviously made 1100% profit in a very short time.
all i can see is him crying that he made 1100% profit in half a year while others made 10 times that amount in 3 years! i wish i could be sad about such profits in such short period of time!!!!
then in the end
Quote
With faith, investors succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
this is bullshit.With faith, entrepreneurs succeed.
With faith, stockholders succeed.
faith is only for idiots and old women in a nunnery.
you need knowledge and experience to be successful.
I just get the big picture of it ; I realized that I failed because I am too greedy. In other words, one need to be mentally wealthy in order to make a fortune.
Bitcoiners or early adopters who can make Million of dollars > they must be have faith that bitcoin price will skyrocket someday and they are right as now the price reach $1180 and still climb up. And the point for us : keep our bitcoin save and wait for 5-10 years later.
If I came at the right time as you did I must be rich by now.There arenfew some causes why you didn't profit on it.One is maybe you're doing some wrong thing while trying to grow your bitcoins.You must know what you are investing in to be secured and make profit through it
I wish I was in your shoe then as I come to know about bitcoin when is over value. I came across crypto currencies in 2015 and started making few satoshi in 2016. We humans being will always think rationally when ever we come across an investment opportunity. I am happy for you as now you have invest in bitcoin related site now.
That's the thing with BTC-those who got it early weren't neccessarily the ones who made a profit-there were and there are still a thousand ways you could lose your BTC or sell them below the profit margin-and to have been able to avoid all these and end up in the profit zone is something which a small percentage of people have been able to do.That's why it's hard to find someone who made a huge profit
I don't think even now it is too late for long-term investments in Bitcoins. There are many more countries who haven't used Bitcoin for it's potential yet. So prices will climb up as they start using it and still you can make fortune with Bitcoins. We must accept finite disappointment, But never loose infinite Hope.
I would agree on that. Some governments are reviewing bitcoin to legalized for public. If it was approved and be supported by government bitcoin's value would increase as many people would use it for legal transaction. It's very significant to behold for its potential.
I don't think even now it is too late for long-term investments in Bitcoins. There are many more countries who haven't used Bitcoin for it's potential yet. So prices will climb up as they start using it and still you can make fortune with Bitcoins. We must accept finite disappointment, But never loose infinite Hope.
Hindsight is 20/20.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
That's quite a story. Thanks for sharing.
Hindsight is 20/20.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
I first bought btc at $11 each. I made quick and easy money trading them locally. There wasn't many people who had an exchange account back then, so you could make 20% on each transaction. At the time this was a great bit of business as a small side hobby. I carried on trading and making money on the arbitrage right up through the first bubble... So when the bubble popped I was left with a massively reduced value inventory!
This week is the first time in 3 years that I have broken even
My claim to fame is that I was almost the second ever hodler as I was about to post a reply to the hodl post but wasn't logged in.
Let me quote a few snippets from the article:
"It’s all about me being too greedy."
"I failed not for lacking skills, but for my thoughts."
Pretty much sums up what OP's mistakes were, but don't worry, you only fail when you stop trying. Get back up. I'm an early adopter too, but I'm not a millionaire.
"It’s all about me being too greedy."
"I failed not for lacking skills, but for my thoughts."
Pretty much sums up what OP's mistakes were, but don't worry, you only fail when you stop trying. Get back up. I'm an early adopter too, but I'm not a millionaire.
Indeed, because everyone of us have different fortune in life, being an early adopter of bitcoin doesn't mean that you are going to be reach, because just like what I've said, we do have different fortune. If someone, an early bitcoin adopter, is a millionaire right now, and you are envying him, or insecure or whatever you are feeling towards that person, it is wrong, because instead of getting envy because that certain person is a millionaire right now, we should idolize him, ask a piece of advice that will helps us to be someone like them in the future.
Who knows, maybe next year OP would become a millionaire because he have learned from his mistakes and change the way he use bitcoins, we just have to wait for the right time, because God have plans to each of us, and He knows when He is going to give it to us.
Quote
With faith, investors succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
All of a sudden it became a long term investment. The first time I looked at bitcoin I only saw a short time investment because of its history. It falls so quick then go way up also fast. With that kind of movement people are thinking buy then sell again but you will have to guard it.
But who is really more profitable here. Is it those who put their faith and just HODL or those who buy and sell although risky?
I dont regret selling when it was too early and I dont call that a failure also.
Quote
With faith, investors succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
All of a sudden it became a long term investment. The first time I looked at bitcoin I only saw a short time investment because of its history. It falls so quick then go way up also fast. With that kind of movement people are thinking buy then sell again but you will have to guard it.
But who is really more profitable here. Is it those who put their faith and just HODL or those who buy and sell although risky?
I dont regret selling when it was too early and I dont call that a failure also.
bitcoin surely has a volatile market but also don't forget that price is also rising in the long term because of the potential of bitcoin.
in other words a rising volatile market can be used both for short term and long term investment just as easily. it depends on you to choose one of these methods that suites your strategy.
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