Topic: Your Worst/Unluckiest noob mistake with BTC - page 2. (Read 3843 times)

Haha na it did go back up predicted my own mistake
Well Rebought in at 110 And sold for more cash
But less bitcoins worth more so still a mistake
But I guess reading the thread my worst mistake is not learning about bitcoin earlier
Or maybe its not investing in one or all of the alt currencies in small amounts since I don't know what will win and just have 10 wallet accounts

Okay, I will spend some time to chose one of the more sexy hot winners from that digital currency contest. It seems a bit as it works in the good old investors world with eary and late investors, its the same mechanismen, I believe.

Thanks to both of You for the clarifications above.

What are Your most important criteria's when chosing one of these toys? publicity? tradeability? easy to mine? seriousity and references of the founders? quality of the technical or financial story?

What are the killer criteria's getting believers in the crypto-currency community?

thanks a lot, I am fast learning here.

M.

It's a very long story most of which I've forgotten.

You're best off looking it up. Trendon Shavers - pirateat40.

The only relevant detail would be if he falsely represented his dealings (which I think he did). If so then fraud charges are possible but no-one seemed to want to do it. Not sure why.

Excuse me as I don't know the history of this story, but isn't this what the police are for? Should be possible to prove fraud in this case?

In my head I see someone being shaken till Bitcoins fall out of him but I suspect this isn't how it happens in real life.

Ouch! That one stings. Definitely selling extremely too early would be my worst mistake, lost alot of capital.

I'm going to start selling BTC on ebay:)

You can merge mine coins that use the same algorithm.

I believe the table represents a simple formula.  The newer coins are more profitable to mine than Bitcoin because, although they are worth less than Bitcoin per coin, they have a higher reward for mining.  That is because most coins favor early adopters.  Typically they start off with high rewards then drop over time.  Bitcoin is one of the older coins now, so it has less rewards.

Another possible interpretation is that the market is shifting toward the possible adoption of new coins.  Bitcoin is so much huger than the other coins that it is almost a monopoly of the market.  Look how small the other values are in the Best Price column.  The other coins are trying to break out and become second coin to Bitcoin, like a new search engine trying to compete with Google.  Since the other coins have almost the same qualities as Bitcoin, they are adequate substitutes (except not accepted in as many places), and so people are bidding them up in speculation that some might succeed.

The percentage is a simple formula compared to Bitcoin.  If you mine Feathercoin for 24 hours and exchange your Feathercoin for Bitcoin, you are expected to earn 272% of what you would have earned if you mine Bitcoin directly.

I personally would recommend that you invest in a few handfuls of any coin that shows a pulse, and hold for the long term.  You have no idea which coin will succeed or fail.  Get them while they are cheap.  And if you are mining, mine the top one on the list, Feathercoin.

I wouldn't necessarily call this a bad thing. Because if you had stayed, you could have converted the currency you got earlier for a lot less than the $200+. The question is, if you had stayed and gotten more, would you have converted it, which for most people would be yes, and if you converted it as you went, would you still have gotten that $200+ by today taking in all costs.

Ditto. I just got started a week ago, and I would have loved to have been working with the growing currency as it became more popular, especially when everything was easier and you could make a GPU system without needing to worry about Asics making it utterly not worth it. I would have liked to been involved and watched what happened when someone figured out how to mine with GPU's ect.

Finding out about bitcoins 4 years too late

BEFORE I might need to post sad stories in the next year, listen ladies and gentlemen, what do we need to learn from this:
http://www.coinchoose.com/


Why the feathercoin, Freicoin, Mincoin, Bytcoin Litecoin and co are indicated as more profitable than BC???


Coin   Algo   Blocks   Difficulty   Reward   Best Price (BTC)   Exchange   % Profitability of BTC
 Feathercoin   scrypt   31089   122.352   200   0.004000000   Bter.com   263.54%
 Freicoin   SHA-256   26352   37346.892   229.75004659   0.000990000   Bter.com   245.47%
 Mincoin   scrypt   47110   1.519   2   0.003100000   mcxNOW   164.51%
 Bytecoin   SHA-256   16861   8948.631   50   0.000670000   Bytecoin Exchange   150.89%
 Litecoin   scrypt   346424   482.51251079   50   0.032000000   Bter.com   133.65%
 PPCoin   SHA-256   46303   388718.077   400.44961824746   0.002660000   BTC-e   110.45%

I don't get the reference measure in percentage here. In percentage of what?
risks? invested $ £ @ Please help, so I don't need to post another Worst/Unluckiest noob mistake with digital currency

thanks a lot

Not getting into bitcoin mining when a friend recommended years ago.

my mistake was sold I sold 5 BTC @ $30 each when prices were rising 

New ATH: $3650/BTC!

My first time buying a Bitcoin was on ebay,  I had no idea what I was doing and ended up paying $3.65 for 0.001 (.13 cents at the time) looool!

Yes, my point being, what are you actually going to do when you meet this guy? Do you seriously think you will be able to get bitcoins out of him?

Awwwww Yeah:
http://xkcd.com/538/

I got back into mining in March 2013 - after a 9 month break - just as my last pool folded - mtred.

It was brilliant, I never had any complaints.

Unfortunately, looking for another PPS pool, I settled on Eclipse Mining (EMC) - run by Inaba.

I never knew anything about him or BF Labs before.

From the start, large blocks of my shares would randomly disappear and I wouldnt get paid for them. No reply from the admin (Inaba) and noobs trolling on their forum telling me it must be my fault 'just because' (no logical reasons given) and also saying that the safest place to keep your btc is at your EMC wallet - eg. only idiots use offline/backed-up wallets, etc.

A quick search of the forum showed other posts from users who'd lost shares. The best reply they got was Inaba saying that it must be their fault (not EMC'S), that he wasn't even going to bother checking if the fault was EMC'S and saying that the shares had gone 'poof'.

He tried this scam with me, (he'd finally replied after I posted that EMC was a scam) until I told him that I may be new to his pool but I am not new to mining.

His final reply was that I had an 'unusual' worker name and again the missing shares were my fault and that maybe changing my worker name would fix it! He also then went on to mock my worker name.
The crap that he spews is unreal. My worker name was the very unusual Silentflute.

Anyway, went to Slush's with no probs, then settled on 50BTC pool.

I thought scammers like EMC/Inaba wouldnt last long in this game but, beware everyone, wherever there is cake, the crap-sucking flies are all around trying steal a crumb.

Lesson learnt: don't believe a word Inaba/EMC says.