How I Lost A Lot of Money on Bitcoin AND An Update On My Goal!
Alright, I'll keep it simple and to the point... So, a couple weeks ago (when 1 BTC = $950ish) I had finally saved up enough for my first whole bitcoin and I was pretty fuckin excited about it. Since I was so amped up about bitcoin I started watching a bunch of related videos which eventually led me to bitconnect. Bitconnect is a site that essentially offers a percentage of profit per day to you when you loan bitcoin to their trading botSo I watched some youtube videos about people's opinions on it and for the most part everyone was stoked about it and bragging about the returns they've been getting recently. Unfortunately for me, I fell into the pressure, sold my bitcoin and loaned out $1,020 that i had invested into BTC for the sole purpose of making more bitcoin. Now, I'm rather skeptical about bitconnect after doing some research, BUT I have already made about $215 in the last month from it. That's really good! Buuuutttt, now all of a sudden Bitcoin is worth roughly $1750 and it jumped from 1300-1865 in the span of about a week. So, that's how I fucked up bigtime and learned to just stick with bitcoin and just HOLD IT haha... I can't really take advice very well, usually I just have to learn from my own stupidity XD However, this has led me to work harder than ever at achieving a new goal of saving up enough for 10 Bitcoin (enough to be part of the wealthy top 1% of bitcoin address')!
My current progress is .05/10 Bitcoin.
Im currently busting my ass working overtime to achieve my goal and I try to update as much as I can. With my next check I should be close to having 1 full bitcoin again. I'll keep anyone who's interested up to date on my progress and if anyone would like feel free to tell me about your bitcoin goals!
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
My goal is to achieve between 1 and 10 Bitcoin to make it to the top 1% of Bitcoin holders! Please feel free to join me in this quest! (:
Since I first started with Bitcoin I have lost 9 BTC. Please learn from my experience.
The first 4 were valued at $1.50 USD/ea at the time and I lost them because the computer I was "mining" them on 'back in the day' was going to take forever to make any profit. Like an absolute idiot, I gave up mining, deleted my wallet, and gave up on BTC all together. Lesson - never give up on a good thing
After getting back into Bitcoin a couple years later, I sent 1 BTC to an account on the Silk Road website, and it got seized by the FBI during the raid. I did not even know if I would ever buy anything there, just wanted to check it out. I had left it sitting untouched for more that 2 months before it was seized. Lesson - never leave your coins on a 3rd party wallet for long.
Durning the rise of DASH coin, I got in my mind to try it out, so I spent 4 BTC($1500USD) on 500 DASH at the Cryptsy exchange, just as Veron(site owner) was embezzling the wallets there. I had the 500 DASH for about 12 hours when I withdrew them from the exchange wallet, but the transaction was never processed and the site went offline. Lesson - Only use the Bitsquare exchange to trade your coins. As far as I know, its the only exchange where you keep the private keys under your control. Shapeshift is also a great tool to swap coins, if you want to do it instantly.