One thing I always said is that you can expect bitcoin to always fall back down.
Right, to $1
Topic: Your biggest bitcoin-buy/sell fuckups - Therapy by writing & reading :) (Read 5827 times)
December 06, 2013, 01:52:24 AM
Right, to $1
December 06, 2013, 01:19:12 AM
I bought and sold bitcoins at $5.00, But here is my big screw up.
I predicted bitcions would stabilize around $1.00. I was pretty sure they would when they rose to $30 and fell to $20. I speculated short term at $5.00 just to play, but I sold out expecting them to drop more and stabilize at $1.00.
The price of bitcoins went to $2.01, not quite in the $1.00 range I predicted. Trust me when you see the drop from $30.00 to $2.00, you really do expect them to stabilize around $1.00.
I wanted to enter into a large position at $1.00, oh well, they went higher and higher and I got pissed off that I missed my buy in point so I just stopped looking at the price of bitcoins all together.
I did want to invest in them again for the last years as a long term investment but just never got around to it.
One thing I always said is that you can expect bitcoin to always fall back down.
I predicted bitcions would stabilize around $1.00. I was pretty sure they would when they rose to $30 and fell to $20. I speculated short term at $5.00 just to play, but I sold out expecting them to drop more and stabilize at $1.00.
The price of bitcoins went to $2.01, not quite in the $1.00 range I predicted. Trust me when you see the drop from $30.00 to $2.00, you really do expect them to stabilize around $1.00.
I wanted to enter into a large position at $1.00, oh well, they went higher and higher and I got pissed off that I missed my buy in point so I just stopped looking at the price of bitcoins all together.
I did want to invest in them again for the last years as a long term investment but just never got around to it.
One thing I always said is that you can expect bitcoin to always fall back down.
December 06, 2013, 12:53:49 AM
sold 10 in 2012 for $5 a pop
This x 1000, literally.
(i.e. sold about 10k btc for $5 a pop)
No Ferrari for me
December 06, 2013, 12:33:11 AM
Long story short I bought 50 coins @ $50.00. My iPhone bitcoin ticker alert went crazy after it hit $266, $190, $170, $130. This was a HUGE crash at the time. I sold at $70 making about $1000.00. I bought back 50 bitcoin at $96, then sold at the next top $166.00 before it crashed again. Bought back at $700 and watched it almost get cut in half and am still holding. If my bank didn't take 14 days to wire money to box I would have been in at $400.00, doesn't matter I'm holding now. If you read comments on all big financial sites who write an article on bitcoin 9/10 times the top comment will say how much of a bubble and a farse bitcoin is, I listened to this for awhile mainly cause I was scared to invest. I think the people who actually believe in it stopped defending it because its impossible (especially in the speculation thread) to defend the non stop bombardment of crash posts.
December 06, 2013, 12:08:40 AM
I bought at the bottom of the second april crash at $50, and sold at $58, thinking I was enjoying a 16% profit.
In June I was convinced it was 2011 all over again. I bought at 82 and sold at 75, bought at 67 and sold at 69.
During the silkroad crash I thought 110 (on bitstamp) was the top of the dead cat bounce, and sold. I had to rebuy at 120 before the rally.
I didn't participate at all in the april bubble, the 50-170 rally, the 80 to 130 rally, or the 66 to 150 rally.
In June I was convinced it was 2011 all over again. I bought at 82 and sold at 75, bought at 67 and sold at 69.
During the silkroad crash I thought 110 (on bitstamp) was the top of the dead cat bounce, and sold. I had to rebuy at 120 before the rally.
I didn't participate at all in the april bubble, the 50-170 rally, the 80 to 130 rally, or the 66 to 150 rally.
Lol, I had same experience at April and July's bottoms... though I'm not butthurt, that's my trading style and I've done good with it so far. I'm just not keen to hold my btc, they are usually always in action with alts.
December 05, 2013, 11:33:51 PM
Just after the silk road crash I set up this trade on Bitfinex: I borrowed 20K for 60 days at 34% apr. It cost $18/day to hold that money. I used it to by 140 coins at about $140. My plan was just to not touch it for the full 60 days. And it started to slowly go up. It hit almost $200 after two weeks and I was up almost 8K! But then it dropped down to 180, and I though "crap, I need to lock in these profits" and I sold the position, making 4 or 5 thousand. Well that's pretty cool, but if I had held the loan (which ironically would have ended today) I would have been up 117K.
So that sucks.
then the rest of the story is that the next week after I closed the position I sent those and other coins into coinlenders the day before it froze and collapsed and ended up loosing 85% of my total holdings.
and that really sucked.
So that sucks.
then the rest of the story is that the next week after I closed the position I sent those and other coins into coinlenders the day before it froze and collapsed and ended up loosing 85% of my total holdings.
and that really sucked.
December 05, 2013, 06:25:59 PM
When I decided to build my mining rig, I tried to be very clear on what the rig earned and what I had before building the rig.
I promised myself that I will replace the fiat I spent as soon as the rig reaches ROI.
It did in May 2013, 40 BTC, and I sold it, and was content that I now had the mining rig and the bank balance was back at where it was before I got started.
In hindsight, I should have kept the money in that 40 BTC since it turned out the fiat would just sit there in the account.... earning 1% interest....
PS. I still have the rig and it has ROIed a few more times since May.
I promised myself that I will replace the fiat I spent as soon as the rig reaches ROI.
It did in May 2013, 40 BTC, and I sold it, and was content that I now had the mining rig and the bank balance was back at where it was before I got started.
In hindsight, I should have kept the money in that 40 BTC since it turned out the fiat would just sit there in the account.... earning 1% interest....
PS. I still have the rig and it has ROIed a few more times since May.
December 05, 2013, 06:24:48 PM
spent $1300 in coins in 2011 for a laptop... can probably have a Tesla by now.. Good thing i bought in around $100 this year so i havent completely missed the boat... Also bought a camera with 4 bitcions at around $120... that camera i've owned for 3 months could've been worth $4k
December 05, 2013, 05:49:06 PM
Put 0.17 BTC in COL for a pump and dump. Price was 0.00000029 ... waiting for it to rise ... a few days..... 0.00000006 
December 05, 2013, 05:05:03 PM
Discovered Bitcoin at 140. Finally managed registering when i was it was at 200. Then i thought it's already going down again and it's over, 'i'll wait for the next bubble'. Now bought some single digit coins for 500 and lately at 1000. Now i am kicking myself for not having 5x the coins (when i would have bought for 200). Argh
November 19, 2013, 12:25:25 PM
I have recently (last three paychecks - 6 weeks) stopped contributing to my 401k and instead using the allocation to buy bitcoins. It's not much, I can only afford $100/paycheck, but I'm going touching those coins like my 401k unless I absolutely have to. My wife said I could do it for a year and we'll reevaluate at the end of the year to see if I should go back to traditional 401k or still do bitcoins.
November 19, 2013, 12:07:35 PM
Here's my story. I buy tangible goods with btc. I'm not a speculator, I'm not a hoarder. I just "things" that I can touch and feel. I feel this way about money as well - money is only as good as the things you can do with it.
So....
I've gone through approx 300 btc in my history, and have less than 10 to my name now. I got in when having a 5770 for mining was "decent", but took me a while to figure things out. I sold some btc when they hit $30 (back in 2011) and bought a nice new gaming computer case and some new computer hardware. Then mined more, and bought an AR-15 (piecemeal, not the whole unit) and some paintball gear. Also bought some more hardware (gaming is my hobby, and mining btc is/was just an "aside" for the computer to do something while it's sitting idle. Prior to mining what little bit I have, I would use my machine for things like distributed.net, SETI@home, etc, etc. So mining was just something cool to do to possibly make a little bit of money.
I also bought some gemstones with btc, and made a pendant/necklace for my wife to wear. it's all 4 of our birthstones (hers, mine, kids). I think I spent 30btc at the time for those gemstones. I've traded for Amazon credit as well, and used that to buy some gun parts and ammo. And finally, the latest and "best" purchase of all (which takes me below 10) was I recently bought a Mossberg 590a1 shotgun, and a Beretta NEOS, all bought from a user here on the forums with bitcoins.
So yeah, am I sad that I'm not currently sitting on 300btc (
)? A little. I could pay off my house. But I'm satisfied for participating in the bitcoin economy, and have 3 cool guns that I didn't buy with "real money" (my wife's words), and some other odds and ends that I wouldn't have been able to purchase otherwise.
That's my story!
So....
I've gone through approx 300 btc in my history, and have less than 10 to my name now. I got in when having a 5770 for mining was "decent", but took me a while to figure things out.
I sold some btc when they hit $30 (back in 2011) and bought a nice new gaming computer case and some new computer hardware. Then mined more, and bought an AR-15 (piecemeal, not the whole unit) and some paintball gear. Also bought some more hardware (gaming is my hobby, and mining btc is/was just an "aside" for the computer to do something while it's sitting idle. Prior to mining what little bit I have, I would use my machine for things like distributed.net, SETI@home, etc, etc. So mining was just something cool to do to possibly make a little bit of money. I also bought some gemstones with btc, and made a pendant/necklace for my wife to wear.
it's all 4 of our birthstones (hers, mine, kids). I think I spent 30btc at the time for those gemstones. I've traded for Amazon credit as well, and used that to buy some gun parts and ammo. And finally, the latest and "best" purchase of all (which takes me below 10) was I recently bought a Mossberg 590a1 shotgun, and a Beretta NEOS, all bought from a user here on the forums with bitcoins.So yeah, am I sad that I'm not currently sitting on 300btc (
)? A little. I could pay off my house. But I'm satisfied for participating in the bitcoin economy, and have 3 cool guns that I didn't buy with "real money" (my wife's words), and some other odds and ends that I wouldn't have been able to purchase otherwise. That's my story!
You are the true bitcoin user, supporter and contributor. Like the guy with 10,000 BTC pizza. Cheers!
November 19, 2013, 12:05:27 PM
Here's my story. I buy tangible goods with btc. I'm not a speculator, I'm not a hoarder. I just get "things" that I can touch and feel. I feel this way about money as well - money is only as good as the things you can do with it.
So....
I've gone through approx 300 btc in my history, and have less than 10 to my name now. I got in when having a 5770 for mining was "decent", but took me a while to figure things out. I sold some btc when they hit $30 (back in 2011) and bought a nice new gaming computer case and some new computer hardware. Then mined more, and bought an AR-15 (piecemeal, not the whole unit) and some paintball gear. Also bought some more hardware (gaming is my hobby, and mining btc is/was just an "aside" for the computer to do something while it's sitting idle). Prior to mining what little bit I have, I would use my machine for things like distributed.net, SETI@home, etc, etc. So mining was just something cool to do to possibly make a little bit of money.
I also bought some gemstones with btc, and made a pendant/necklace for my wife to wear. it's all 4 of our birthstones (hers, mine, kids). I think I spent 30btc at the time for those gemstones. I've traded for Amazon credit as well, and used that to buy some gun parts and ammo. And finally, the latest and "best" purchase of all (which takes me below 10) was I recently bought a Mossberg 590a1 shotgun, and a Beretta NEOS, all bought from a user here on the forums with bitcoins.
So yeah, am I sad that I'm not currently sitting on 300btc ()? A little. I could pay off my house. But I'm satisfied for participating in the bitcoin economy, and have 3 cool guns that I didn't buy with "real money" (my wife's words), and some other odds and ends that I wouldn't have been able to purchase otherwise.
That's my story!
So....
I've gone through approx 300 btc in my history, and have less than 10 to my name now. I got in when having a 5770 for mining was "decent", but took me a while to figure things out.
I sold some btc when they hit $30 (back in 2011) and bought a nice new gaming computer case and some new computer hardware. Then mined more, and bought an AR-15 (piecemeal, not the whole unit) and some paintball gear. Also bought some more hardware (gaming is my hobby, and mining btc is/was just an "aside" for the computer to do something while it's sitting idle). Prior to mining what little bit I have, I would use my machine for things like distributed.net, SETI@home, etc, etc. So mining was just something cool to do to possibly make a little bit of money. I also bought some gemstones with btc, and made a pendant/necklace for my wife to wear.
it's all 4 of our birthstones (hers, mine, kids). I think I spent 30btc at the time for those gemstones. I've traded for Amazon credit as well, and used that to buy some gun parts and ammo. And finally, the latest and "best" purchase of all (which takes me below 10) was I recently bought a Mossberg 590a1 shotgun, and a Beretta NEOS, all bought from a user here on the forums with bitcoins.So yeah, am I sad that I'm not currently sitting on 300btc (
)? A little. I could pay off my house. But I'm satisfied for participating in the bitcoin economy, and have 3 cool guns that I didn't buy with "real money" (my wife's words), and some other odds and ends that I wouldn't have been able to purchase otherwise. That's my story!
November 19, 2013, 10:36:50 AM
Thats why when you have good luck you should gradually lower your stakes. Doing the opposite will guarantee you to lose more than you won.
For instance when I make a good run and earn 1K by playing with 30 BTC, my next move will be with 15 BTC (aftermath of any move is lower volume anyway). I'll play with 30BTC again when the signs are crystal clear.
For instance when I make a good run and earn 1K by playing with 30 BTC, my next move will be with 15 BTC (aftermath of any move is lower volume anyway). I'll play with 30BTC again when the signs are crystal clear.
Words to live by. When the rocket goes up I always bank at least twice my original investment before letting the rest ride. That way you can't lose.
This goes for all investments.
November 19, 2013, 10:09:01 AM
not really my biggest fuckup but my most recent one.
lost 0,5btc yesterday by sell high and buying lower cause I was caught off guard by my emotions and sold into the little panic at the beginning of the hearing... was holding for months before that and thought I had the Buy&Hold mentality integrated.
Today for the first time, I made profit seeing the beginning of a flashcrash - 0,55btc but instead of be happy about making up my loss of yesterday, i tried again and lost 1btc.
i guess that's life... greed is not good for me, only bad things happen to me when I take action rooted in greed.... YMMV...
lost 0,5btc yesterday by sell high and buying lower cause I was caught off guard by my emotions and sold into the little panic at the beginning of the hearing... was holding for months before that and thought I had the Buy&Hold mentality integrated.
Today for the first time, I made profit seeing the beginning of a flashcrash - 0,55btc but instead of be happy about making up my loss of yesterday, i tried again and lost 1btc.
i guess that's life... greed is not good for me, only bad things happen to me when I take action rooted in greed.... YMMV...
Thats why when you have good luck you should gradually lower your stakes. Doing the opposite will guarantee you to lose more than you won.
For instance when I make a good run and earn 1K by playing with 30 BTC, my next move will be with 15 BTC (aftermath of any move is lower volume anyway). I'll play with 30BTC again when the signs are crystal clear.
November 19, 2013, 09:50:04 AM
turned my 2 btc into 2.3 during the hearing and today i magically transformed them into 1.5
i stop that shit now and put everything back into my cold wallet
i stop that shit now and put everything back into my cold wallet
November 19, 2013, 08:31:08 AM
not really my biggest fuckup but my most recent one.
lost 0,5btc yesterday by sell high and buying lower cause I was caught off guard by my emotions and sold into the little panic at the beginning of the hearing... was holding for months before that and thought I had the Buy&Hold mentality integrated.
Today for the first time, I made profit seeing the beginning of a flashcrash - 0,55btc but instead of be happy about making up my loss of yesterday, i tried again and lost 1btc.
i guess that's life... greed is not good for me, only bad things happen to me when I take action rooted in greed.... YMMV...
lost 0,5btc yesterday by sell high and buying lower cause I was caught off guard by my emotions and sold into the little panic at the beginning of the hearing... was holding for months before that and thought I had the Buy&Hold mentality integrated.
Today for the first time, I made profit seeing the beginning of a flashcrash - 0,55btc but instead of be happy about making up my loss of yesterday, i tried again and lost 1btc.
i guess that's life... greed is not good for me, only bad things happen to me when I take action rooted in greed.... YMMV...
November 19, 2013, 07:45:17 AM
Sold 40 on Friday thinking it'll drop, as if often does, over the weekend.
Within hours a new ATH was reached, then proceeded to continue on up.
Still, have $16000. Not TOO shabby!
Within hours a new ATH was reached, then proceeded to continue on up.
Still, have $16000. Not TOO shabby!
spend this now.
there is seriously very little time left....
Lol, just made my BTC back
November 18, 2013, 06:12:31 AM
Lost 1600 coins during the april crash, I behaved like a pig and was slaughtered.
Ima go back to crying in between taking bites out of this cookie dough tube
Ima go back to crying in between taking bites out of this cookie dough tube
Ouch. Tell me you kept some...
Oh and also forgot about the 649btc that pirate stole... oh the stupidity
November 18, 2013, 03:39:48 AM
Thank you for the therapeutic thread. It feels good to see I'm not the only one screwing up.
I want in half BTC / half LTC in april. I saw altcoins as a quick way to increase my BTC.
I got lucky playing around with feathercoin. I went full in LTC in summer but I panic sold everything during the SR dip.
Short story: if I just bought and hold, now I would have 3x the BTC I have now.
I want in half BTC / half LTC in april. I saw altcoins as a quick way to increase my BTC.
I got lucky playing around with feathercoin. I went full in LTC in summer but I panic sold everything during the SR dip.
Short story: if I just bought and hold, now I would have 3x the BTC I have now.
Jump to: