Sad Bitcoin Story

danny1213 on 03/01/2021 - 16:27
Last edited 07/01/2021 - 17:18

So I bought Bitcoin back in 2017, put $10,000 in there and bought while the prices were driving up insanely. They were worth around $18,500 per Bitcoin at the time.

During the next 3 years it drove down and down and I started feeling really miserable about it considering my $10,000 was worth a mere $2,000 at one stage. I decided to leave it and stop looking at it.

Late last year my friend started talking about Bitcoin again, so I began getting interested in looking at it. The value of Bitcoin slowly crept back up and stayed stagnant around the 18,000 - 19,000 mark - so I decided to sell. I just wanted my money back, I sold breaking even, getting my $10,000 out (and maybe a $100 profit)

A couple months later now, my original $10,000 investment is worth around $23,000 and I am just kicking myself in the foot.

I feel like I am the most unlucky person in the world when it comes to this and am trying to get over it - but it just burns!!

Has anyone had any other similar experiences, and what's the best way to just move on without thinking "coulda, woulda, shoulda" :(

Financial Cryptocurrency

Comments

  • whooah1979 on 03/01/2021 - 16:33
    +113

    Never take investment advice from family and friends unless they're a billionaire.

    • cloudy on 04/01/2021 - 11:47
      +12

      And the biggest billionaire of all says crypto isn’t something he would invest in.

      • John Kimble on 04/01/2021 - 11:48
        +28

        Because he doesn't need to.

        • cloudy on 04/01/2021 - 11:51
          +1

          No one needs to invest, everyone that does just chooses to.

        • gromit on 04/01/2021 - 12:49
          +17

          No because he only invests in companies and assets that have an underlying value which crypto coins do not.

            • tarb on 04/01/2021 - 13:48
              +9

              @whooah1979: Block chain != crypto currency.

              Pretty absurd argument (including all your links below).

              • whooah1979 on 04/01/2021 - 15:21
                -5

                @tarb: Mainstream blockchain wouldn't be here today if it weren't for the block rewards. It would've died in some geek/s basement.

                MNC investing in blockchain keeps the whole ecosystem alive and thriving.

            • gromit on 04/01/2021 - 18:10

              @whooah1979: crypto coins use blockchain but they are not the same thing. many things use blockchains that have nothing to do with crypto coins and crypto mining has zero effect on blockchain research and use. Proof of work that btc uses is brain dead moronic.

              • whooah1979 on 04/01/2021 - 19:47
                -2

                @gromit: A simple DYOR will show that AWS can run on Ethereum.
                https://finance.yahoo.com/news/three-huge-names-making-ether…

                2) Amazon has turned to Ethereum as well
                Amazon Web Services (AWS) has made the Ethereum platform the new open-blockchain standard after deciding to add it as an option for its Amazon Managed Blockchain. The retailer’s network doesn’t support Ethereum yet, but the new version will be launched this summer.

                Amazon Managed Blockchain aims to help businesses that want to use blockchain technology for their operations but can’t or don’t want to develop it themselves.

                The service was designed to support millions of transactions using Hyperledger Fabric and now Ethereum, without the need of a central authority. Companies in retail, finance, and even energy can execute contracts, share data, and perform transactions across multiple entities using the blockchain.

                The company has chosen Ethereum for its flexibility and extensive developer community – key elements that enable a multitude of projects to be built on the Ethereum platform.

                • gromit on 04/01/2021 - 21:33
                  +13

                  @whooah1979: FFS learn the difference between blockchain and crypto coins. THEY ARE NOT THE SAME. No one is saying blockchain doesn't have a future.

                  • ItsMeAgro on 05/01/2021 - 11:13

                    @gromit:

                    No one is saying blockchain doesn't have a future

                    I'll raise my hand as someone whose optimism about blockchain is… cautious.

                    I can see how a write-only database that gets bigger forever might not necessarily ever find more than one or two really killer uses…

                    • bchliu on 06/01/2021 - 15:17

                      @ItsMeAgro: Err.. plenty of uses mainly built to ensure distributed auditing and logging of information as such. Still plenty of WORM (Write Once, Read Many) storage cases out there. Mix it with encryption of data in the block chain, will give even more security implications.

      • whooah1979 on 04/01/2021 - 12:11
        -2

        People say one thing but do the opposite.
        https://www.forbes.com/sites/davidteich/2019/09/10/amazon-mo…

        • [Deactivated] on 04/01/2021 - 19:21
          +3

          Blockchain is not cryptocurrency. This does not support your argument.

          • whooah1979 on 04/01/2021 - 19:50
            -3

            @[Deactivated]: Both AWS and Azure can run on Ethereum.

            3) Microsoft Azure is built on top of Ethereum too
            A leader in the software market, Microsoft has built its cloud storage platform, Azure, on top of the Ethereum platform. The blockchain-based service enables developers to connect and integrate various tools and services in one place, which offers significant benefits to global business operations.

            Now, Microsoft is planning to build a series of additional Ethereum-based solutions for its clients on the cloud platform. Among the companies that could benefit from the successful collaboration between Microsoft and Ethereum, there’s at least one household name.

            Starbucks is doing more than accepting cryptocurrency payments. The company is planning to track its coffee “from bean to cup” using Microsoft’s blockchain-based service.

            This will allow the coffee giant to improve the transparency of its processes and provide clients with accurate details on where the coffee was sourced and roasted. They can also find out how the company supports farmers and their local businesses.

            • [Deactivated] on 04/01/2021 - 20:06
              +9

              @whooah1979: a) Ethereum is actually a platform, ETH (Ether) is a crypto token built on it. Microsoft offering a capability to build dApps on the Azure platform is nothing to do with the token and everything to do with the fact that Ethereum as a platform is really popular (and of course Microsoft is going to support the popular choice first and foremost) and free for Microsoft to implement.

              b) Azure is NOT built on Ethereum. Azure is built on the Microsoft Azure Service Fabric. Azure Blockchain, a single service, uses the Ethereum protocol to implement a full self-contained Ethereum network that allows you to build and run a blockchain with exactly zero cryptocurrency involvement.

              c) Blockchain is not cryptocurrency, so what Starbucks is doing is totally irrelevant to cryptocurrency. Starbucks absolutely does not accept crypto either. A crypto exchange called Gemini and a company called Flexa have an app called Spedn which generates a gift card QR code for each purchase, debits your crypto wallet for the purchase value, and settles the gift card in cold hard United States Dollars (which, for what it's worth, I will not debate is an incredibly innovative hack!).

              • whooah1979 on 04/01/2021 - 20:19

                @[Deactivated]:

                uses the Ethereum protocol to implement a full self-contained Ethereum network that allows you to build and run a blockchain with exactly zero cryptocurrency involvement.

                Hmm. That's interesting. I didn't know that MSFT operates a private Ethereum network.
                Thanks for the link.

      • berry580 on 04/01/2021 - 18:37

        It's the sort of investment that can leave them broke tomorrow. Why would they invest in such risky investments?
        We're talking about hundreds of millions (if not more) here, not thousands.

      • CrypticM on 04/01/2021 - 19:47

        So many other billionaires and millionaires investing though. He was a successful investor…but he do have failed stocks in portfolio.

    • cameldownunder on 06/01/2021 - 10:50
      +1

      That is the most used comment of people who have "failed" in investment: "Not my fault" or "But the other said …."
      First Mistake: Investing, if the money hurts ( and it seem it does ). Only invest in volatile investments, what you can afford to never get back.
      Second mistake: Invest in something you ( apparently ) have no clue about what moves it up or down
      Third mistake: Checking your portfolio action AFTER. Everyone is smarter after

      If … my grandma had wheels she would be a bus.

      With IFs everything is possible.

      feel like I am the most unlucky person in the world

      I sold 5000 shares of NVIDIA at $11, now they are at $500 something.
      Do I feel stupid ? No, because 99.99% of investor who buy at X sell after the price goes up to 10 X or at 20X. At least I dont think I would have kept them that long.
      ( Also I needed the money at the time )

    • cjhero on 10/01/2021 - 02:02

      My dad talked me out of buying bitcoin when it was $113. All his fiancial fundamentals were correct and no one had seen anything like it before but god damn if I had gotten on board then…

      • whooah1979 on 10/01/2021 - 12:17

        That is what happens when people take investment advice from family and friends.

  • burgermaniac on 03/01/2021 - 16:42
    +1

    Remember, investments are only considered a loss when you sell them. If you ride out a trough, it is most likely to go back to a peak.

    • smalltime0 on 04/01/2021 - 07:39
      +15

      That is not how investing works.
      You buy something on the principle of the investment, you then ride it out. It is the courage of your convictions.
      Just riding out troughs is how retirees lose their life investments.

      • burgermaniac on 04/01/2021 - 18:46

        Yes but I doubt OP is a retiree

    • cameldownunder on 06/01/2021 - 10:52
      +1

      Investment advice 1:1 ! LOL

      Like someone not being dead, till his funeral.

  • garetz on 03/01/2021 - 16:44
    +50

    You aren't unlucky, you just got no idea what you are doing. If you want to learn how to invest, maybe you should read some literature about it.

    Investing is not about luck, its about making an informed decision based on knowledge you attain through learning by either you making mistakes or by other peoples mistakes.

      • htc on 04/01/2021 - 13:16
        +50

        imagine selling when it was worth $2000. So you didn't do too bad.

        • capslock janitor on 05/01/2021 - 23:15

          JUST checked my portfolio almost breakeven with BTC again yayers

          WHY is Bitcoin going up again??

      • Poor Ass on 04/01/2021 - 16:00
        +1

        @danny1213 when you bought all the BTC in 2017 how much % of that was your total assets at the time

      • Vote for Pedro on 04/01/2021 - 19:00

        So did those that listened to their favourite right wing shock jock advertising grenfells securities and lost their retirement savings

      • htc on 04/01/2021 - 19:45

        Put it another way, if your friend ask you to leave your investment for another month, the value went up, will you be willing to share your winning? Also the decision to sell may involve you thinking or believing the value will go down soon. As people put forward in this forum, a lesson learnt without heavy loss. People also suggest to read more literature. So it does pay to learn, but it takes time and effort. It is hard, time to move on. Hope time will heal you. In the meantime invest your time and energy on new ventures or investment or if you are not willing to take risk, wait for your real estate asset to go up. Thanks for sharing your story. Think about also those who sold at 2000.

      • ItsMeAgro on 05/01/2021 - 11:15
        +1

        I could have bought bitcoins when they were less than one cent each. I didn't.

        But if I had, I'd surely have sold them when they hit one dollar, not 1000 or 10,000 so no point regretting it.

    • EightImmortals on 03/01/2021 - 17:42

      What do you mean? He just learned a few valuable lessons that no book will give you. Reading about stuff is one thing, actually doing it is a whole different ting, especially investing. But yes, some knowledge is better than no knowledge.

      • smalltime0 on 04/01/2021 - 07:42
        +4

        what garetz is probably saying is that you buy an investment for a good reason; it might be undervalued, it might be about to skyrocket… etc.
        If you don't understand the commodity, or if it has no purpose… don't touch it.

        • EightImmortals on 04/01/2021 - 08:22
          +1

          Well that would be one of the factors for sure. But with new stuff there are not too many people who really understand it. Would you have bought some 'apple' or some 'google' back in the day? Maybe, maybe not. Or go back to the BETA V VHS wars, if you 'understood the commodity' you would have known that BETA was the technically better format. But if you didn't know about the content deals being done between corporations (a lot harder without the internet) you would have made the wrong choice to go with the better option and lost your money. My point was that there is a type of experience you can ONLY get from investing and possibly losing real money and I'm not sure you can become a (consistently) good investor without making a few mistakes along the way. Cryptos are one of those 'new things' and as others have said the price can and does swing wildly so you need balls of steel or a LOT of experience and self control to play in this pool. Current BTC price is 43.550 AUD. Nice.

          • Leeroy Jenkins on 06/01/2021 - 08:42

            @EightImmortals: That's not how one should invest. Sure, some times you need to go with your hunches, but that needs to be based on fundamentals, you need enough research to understand the fundamentals of the thing that you are investing in. Otherwise, you are just gambling.

            In OP's case, he was just gambling cuz he didn't understand the thing that he put $10k in. He just FOMO'ed and that's what happened. It's hard to expect a non-technical person to fully understand Bitcoin, but that doesn't mean you just go with what your friends say. He still needed as much research as possible to understand it and the market cycle etc. Apparently $10,000 wasn't a small amount for OP, at least at the time.

            When we entered a full bull market in the 2nd half of last year, he backed out. I think after 2013 and 2017, he should at least know the bitcoin halving event and what might happen after that. At least I that's what I expect anyone who invests more than a few hundred dollars to understand, otherwise go to the casino, cuz that'll be more fun.

            • EightImmortals on 06/01/2021 - 09:01

              @Leeroy Jenkins: Sure. I didn't mean to imply otherwise. Only that with 'new things' you can research all the fundamentals available but until that thing gets into the real world you can never be sure how it's going to go. Remember the dotcom boom/bust? Yes, watching the day to day price movements is a good idea as well.

              • Leeroy Jenkins on 06/01/2021 - 09:45
                +1

                @EightImmortals: The thing is there were plenty of signs, like institutions getting into the space other than the one I mentioned above, before OP pulled out his money. I don't blame him but had he done research, he would have left some money in to possibly net some profit when all the signs pointed to a bull market. You say you learn by doing, but even after doing, OP doesn't seem to understand some of the very important things about the Bitcoin market?

                I learned using DCA for a volatile market after some small losses and that has worked relatively well for me in the crypto space.

                Also I don't consider his move "a mistake". He didn't lose money, that to me was a MASSIVE win and VERY LUCKY for someone who knows nothing about Bitcoin. Most small crypto investors suffer losses from stats I read who-knows-where.

                • EightImmortals on 06/01/2021 - 09:51
                  +1

                  @Leeroy Jenkins: Fair enough. I agree with what you say and would add that the OP learned that particular lesson and next time he may be equipped to deal with the situation logically rather than emotionally. As you say, at least he didn't LOSE anything which is good for a new investor in any market.

      • htc on 04/01/2021 - 19:53

        Agree, best way to learn is by doing. The next step is to read more about investment. As buffet once said, stay in your circle of competence.

        • whooah1979 on 04/01/2021 - 19:56
          +1

          Yes, he should stick to airlines and legacy banks.

  • John Kimble on 03/01/2021 - 16:52
    +40

    It's all relative. You didn't lose 10k, so that's one positive.

    • danny1213 on 03/01/2021 - 16:57

      That's how I am trying to look at it, but it's hard lol

  • sunnypack on 03/01/2021 - 16:52
    +26

    Wait, so if I'm reading this right you made around $ 100 from an investment and you're upset that you're missing out of making more money? I get it, but look on the bright side you haven't lost anything. I'm pretty sure you'd be more upset if bitcoin was worth $ 2 k and never came up again. Be happy with what you have, mate, not what you could have had.

    • danny1213 on 03/01/2021 - 16:53
      -4

      No I didn't make anything other than maybe $100 from a 3 year investment. The prices stated are the value of 1 Bitcoin, I purchased $10,000 worth. Had I waited another month, I would have made $12,000 selling today.

      • Kangal on 03/01/2021 - 17:13
        +2

        For it to drop from $10k to $2k value, would mean you're comparing to the lowest prices since 2018…. which means your entry price was somewhere close to the peak of 2017. So it seems you were planning on "buying low, selling high" but doing it in a quick period. Kind of like a short. What you failed to comprehend is:

        1- Cryptocurrencies are high-risk and high-reward investments.
        2- Practically speaking, investing is gambling.
        3- Past performance is NOT a great indicator for future performance.

        Personally I'm risk averse but I have been (on-and-off) watching Shitcoin since like 2012. And each time it dips, lasts, and pumps…. proving my skepticism wrong. I might not have become wealthy, however, it did spark a curiosity for finance. To the point where I've realised people (which included me) are wasting most of their efforts in "timing the market" rather than focusing on "time in the market". The longer your money has to compound in interest, will eventually add up to greater gains than having money in-out.

        • danny1213 on 03/01/2021 - 17:17
          -1

          Nah definitely didn't intend of buying low, selling high - my goal was to keep it as long as possible - and I had kept it for 3 years. However after recently depositing for a house and knowing it had gone down to 2K previously I decided to sell, as 10K is very useful to me right now. Just sucks had I left it for a little bit longer, 23K would have been a lot nicer.

          I'm not in a position now to return money back into it.

          • ezzaf on 03/01/2021 - 17:32
            +13

            @danny1213: "I'm not in a position now to return money back into it."

            There's your answer. If you can't afford to lose the money, don't put it into a speculative asset like bitcoin. As you've seen, the price goes up and down both rapidly and unpredictably. You can be upset you didn't sell it at $20k if you want, but I'd be grateful to have learnt a lesson and not lost any money in the process.

          • Kangal on 03/01/2021 - 18:12
            +15

            @danny1213: So, it's not a "Sad Bitcoin Story" at all.

            To give you some insight, I moved out when I was still young and graduated with a degree that didn't do much for me. I started working basically min wage, and had some homeless periods. For me $1,000 seemed like a lot of money back in 2010. Just before the second huge pump, I was more stable and had about $5k in savings.

            I contemplated putting this into Bitcoin which was ~$130 (usd). However, gambling ANY money at the time seemed stupid. As you know the price blew up to ~$1,000 and then crashed down to ~$400 for a long time. Then very slowly it decreased to ~$250. Then in 2016 it stabilised at ~$600, and continued to increase for all of 2017. At the end of 2017 it pumped to $20,000 and crashed. And most of 2018 was a modest rise followed by a larger dip. Then close to 2019 it settled to ~$6,000 then crashed to ~$3,500. I was watching in 2020, believing the financial disruption in the US would cause people to buy more crypto but saw more of the opposite happening. It was basically in July (new financial year) that it started to pump again. And, here we are.

            Now, I could've entered in:
            1- 2012 (?) with a couple hundred.
            2- 2013 with maybe a few thousand.
            3- 2014 with ten K.
            4- 2016 with twenty grand.
            5- 2017 with 100k (could borrow +80k extra)
            6- 2019 with 40k.

            If I had entered at the worst times of that period, value today:
            1- $113k = ($500 x $34,000 / $150)
            2- $123k = ($4,000 x $34000 / $1,100)
            3- $523k = ($10,000 x $34000 / $650) <<— Most Realistic Scenario!
            4- $755k = ($20,000 x $34000 / $900)
            5- $73k = ($100,000 x $34000 / $19,000) -($105,000 loan)
            6- $104k = ($40,000 x $34000 / $13,000)

            If I had entered at the best times of that period, value today:
            1- $243k = ($500 x $34,000 / $70)
            2- $1.2M = ($4,000 x $34000 / $120)
            3- $1.0M = ($10,000 x $34000 / $330)
            4- $1.7M = ($20,000 x $34000 / $400)
            5- $3.0M = ($100,000 x $34000 / $1,100) -($105,000 loan)
            6- $227k = ($40,000 x $34000 / $6,000)

            …so, there's my sob story : )

      • sunnypack on 03/01/2021 - 17:26

        Nah I get it, really, emotionally it's a bad, but I'm just trying to say that this is a really risky asset class for investment. If you kept your money, that's still great compared to losing it all!

      • Leeroy Jenkins on 06/01/2021 - 08:55
        +1

        Had I invested $1000 in Bitcoin when I first heard of it back in 2010, I would have made billions of dollars.

        What's the point?

    • whooah1979 on 03/01/2021 - 16:55
      +3

      OP's loss was the opportunity cost of not sticking to their original exit plan.

    • whooah1979 on 03/01/2021 - 16:59

      Btw op didn't make a gain considering the difference between the buy and sell price was only 0.0034% pa.

    • polyvalent on 05/01/2021 - 14:36
      +2

      Better than buying 1 x bitcoin at $300 in 2012 and then the website getting “hacked” and never seeing the money again..

      I’m down $300 and this guy is even

  • tomleonhart on 03/01/2021 - 16:55
    +1

    paying tax on that $100 ?

    • danny1213 on 03/01/2021 - 16:56

      yep :(

      • tomleonhart on 03/01/2021 - 16:57
        +5

        That was a joke.

        I sold APT at $18, FMG at $5. Both earning around $6k at the time I sold it. I could have kicked myself a lot more but meh, it's part of the investment experience. As long as you don't lose money.

        • danny1213 on 03/01/2021 - 16:58

          For me it's more the holding onto it for 3 years, and selling just a month before a boom. I feel so stupid.

          How long were you holding onto yours for?

          • tomleonhart on 03/01/2021 - 17:00

            @danny1213: APT a couple of weeks. FMG closer to 2 years i think.

            Also I sold QAN at a loss @$1.5 after 3 years of holding, then it shot up to $5. How's about that.

            • MrBillions on 06/01/2021 - 08:08

              @tomleonhart: Same…had the pandemic jitters in March and just wanted my money back which I did get but now it is more thank $100 !!! Duh..

              March/April was the time to SHOP for ozbargainers NOT sell…I'll keep that in mind when covid 20 hits

        • JimmyF on 03/01/2021 - 17:03
          +1

          At least you made $6k out of APT…. I was going to buy it and then didn't, then went up, and up and up, so many times I could have got some and now its ~$120/share!

      • [Deactivated] on 04/01/2021 - 19:26
        +1

        Remember, you held it for longer than 12 months, so it's 50% CGT. Yay, your $100 is only taxable as $50!

  • crashloaded on 03/01/2021 - 17:16
    +14

    You're only kicking yourself with the knowledge of hindsight. If you got your money back and then it went on a dive you'd be happy you took it out. Trading crypto I just hold and take out every $100 of profit immediately. That way if it dips I'm not losing anything.

    • danny1213 on 03/01/2021 - 17:18

      Exactly.

      Well that's a really good way to manage it I guess. I still kept 2 Ethereum coins so hoping for a miracle there lol

      • crashloaded on 03/01/2021 - 17:24

        I only keep Small amount invested in crypto so when there's $100 profit it's increased quite a lot in market price.

  • mapax on 03/01/2021 - 17:19
    +4

    I had a few hundred doge saved to a wallet on my tablet, my tablet died taking my wallet with it and I lost about $3.

    • crashloaded on 03/01/2021 - 17:22

      Don't you have the seed?

      • mapax on 03/01/2021 - 19:25

        Nope, I treated the joke currency as a joke. I’ll be kicking myself when it hits a dollar or more.

        • Velocita on 06/01/2021 - 02:52

          So buy some and don’t have any regrets

    • Leeroy Jenkins on 06/01/2021 - 09:28

      I made about $50 from doge and backed out.

      I can only put my money in it for a couple of days, and any longer I get uncomfortable. I feel lucky to have earned money from it.

      I would have made a few hundred from it, but I don't think about what ifs, especially when it comes to literally shit coins.

  • ProlapsedHeinous on 03/01/2021 - 17:26

    Buddy the fact you got out breaking even is nothing to sneeze at. plenty have been in your position and freaked out and cut their losses at the bottom. The people i feel sad for, are those who had thousands in the early days, and cashed out under 100 a pop. then theres the 10,000btc pizza story. that 2 pizzas today are worth 420 million at todays price…. Yikes!

  • Heaps for Cheaps on 03/01/2021 - 17:40
    +16

    I mined 2 bitcoin in 2012 and then gave up thinking it was just a fad… However, I also point out that in the 2017 bull run, people had become extremely stressed, anxious, depressed, leading to some to take their own lives when it crashed :(

    I mean, we have missed so many opportunities for easy cash, from domain names, apple shares and tonnes of other stuff… But what is true is that in 10 years you will think back to 2021 and say 'Man, if I only had invested in …….., in 2021'. It's up to you to decide what that is and put just a little on it…

    • addrv on 03/01/2021 - 22:09
      +3

      Well put.

      Hindsight is a 20/20, and rather than sunk into regrets and only-ifs, you will definitely be better off on your next decision making if you able to extract knowledge from this emotional roller coaster.

  • trex on 03/01/2021 - 17:41
    +2

    Keep your chin up after reading about this person

    • danny1213 on 03/01/2021 - 17:42

      ouch lol

    • MarcusJones on 06/01/2021 - 17:11
      +2

      I purchased around $10,000 worth of bitcoin back when it was ~$400ea…
      However ended up selling at ~$550 (making a little profit) to give the money to a friend who was going through really tough times.

      I’m glad I helped my friend (they were in a lot of trouble), but today it would be worth just on a million….

  • AustriaBargain on 03/01/2021 - 17:50
    +5

    If next year BTC is worth 50 cents each, then you'll be glad you sold it all when you did. You did the right thing and you stopped gambling with your money when you broke even, when you almost broke even compared to a traditional investment.

  • idjces on 03/01/2021 - 18:01
    +8

    I donated one btc back when it was worth $20. I still don't get why people value it so much, especially over any other cryptocurrency.

    I could also be sad about cashing out 1/3 my tesla shares when I made a 400% return. The shares I continued to hold are up 1700%.

    I've also own shares which have gone nowhere for 10 years, and my house is 'valued' 20% less today than what I paid for it all the way back in 2012.

    You can't get every bet right. It's all about playing favorable odds, where you can live with a variety of the potential outcomes.

    • whooah1979 on 03/01/2021 - 18:05
      +3

      my house is 'valued' 20% less today than what I paid for it all the way back in 2012.

      Are you sure? Every investment guru from here to the moon says that investing in real estate is as good as gold.

      • idjces on 03/01/2021 - 18:08

        I guess there aren't enough fools in my city willing to mortgage away their lives anymore. That or the supply of new housing outweighs the greater populations capacity to borrow.

        • dealman on 05/01/2021 - 12:20
          • ignore.
    • Donaldhump on 03/01/2021 - 19:31

      Which city

  • pharkurnell on 03/01/2021 - 18:05
    +4

    I sold breaking even, getting my $10,000 out (and maybe a $100 profit)
    A couple months later now, my original $10,000 investment is worth around $23,000

    Thats gambling…

  • DingoBilly on 03/01/2021 - 18:17
    +6

    I've had plenty of friends who've lost a few thousand on BTC… so I wouldn't stress too much that you got out at a good time. You could have lost even more holding out longer.

    You're also framing it incorrectly. You're thinking about it as if you lost $10,000 or so when you're almost certainly losing out on that amount of money every day by not making certain choices. If you had invested in TESLA earlier this year you could have made $100,000's of dollars, but surely you don't feel sad about that?

    Also as a last comparison, people have lost their livelihoods and businesses this year due to COVID… so again - you're far from the unluckiest person in the world to have made it out with a +$100 profit.

    • axlfan on 03/01/2021 - 18:41
      +1

      Its all about perspective!

    • danny1213 on 03/01/2021 - 19:54
      +3

      Yeah you're right. I feel like I had to let it out in writing. I feel a bit better. At the end of the day definitely people having it worse off than me so I am grateful I didn't lose out. Thanks!

  • netjock on 03/01/2021 - 18:44

    At least you got your money back.

    There is people who had their bitcoin in old hard drives that got chucked out and somewhere in landfill worth millions.

    • Jacquesy on 08/01/2021 - 08:05

      I'm one of those people.

      Mined ~240BTC in 2010/11. Nothing happened with Bitcoin over the next couple of years and I lost interest. Threw out the laptop my wallet was on. No private keys backed up.

      No offence OP, but yours isn't really a sad Bitcoin story.

  • ihbh on 03/01/2021 - 18:45

    Read up about investor psychology and support and resistance.

  • Stopback on 03/01/2021 - 18:47

    i also really wish my parents taught me about investing when i was 25 i was thiniking that 3% at a bank at that time was gold. And the money is still in the bank, waiting to save for a house….

    • netjock on 03/01/2021 - 20:04

      Or you lose it and end up with no savings.

      Not your parent's fault. The MSCI global index gone up 2x in last 10 years. They put $10k aside when you were 15 you'd have $20k instead of trying to turn a quick buck on bitcoin over a short period of time.

    • grasstown on 05/01/2021 - 20:45

      A lot of truth in easy come easy go. You probably have all you need

  • sa-ozzie on 03/01/2021 - 19:00
    +2

    Now everyone is on the crypto bandwagon….time to be very wary

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