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Why I failed to make a fortune as an early bitcoin adopter?

 

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. 

2.22 investment disaster

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.
1, Early Investment
I am among the very first group of investors in cryptocurrencies. At the very beginning, investors bought bitcoin with a large volume at the price of less than $100 and they even invested some bitcoin start-up projects. I’d like to call myself a top investor who has the vision and courage to seize an excellent investment opportunity. At that time, I learnt cryptography by myself and worked to make my research methods scientific. I even backed up my bitcoin wallet in different places to make it as secure as possible.
All those turned out to be meaningless. Among early investors, some were even earlier than me, they started with merely several dollars. Some miners chose to sell their bitcoin. Some stopped for a while and started again, but suffered great losses. It seemed that bitcoin holders won a great deal in all blocks but genesis block of Satoshi Nakamoto. But it was the other way around. Some foreign bitcoin “guru” could not even afford an air ticket when giving a lecture all over the world. As such, just like stocks, though there were some early stockholders in 1990s, only a small number of people made a profit.
2, Knowledge About Bitcoin
Though not exactly a bitcoin expert, I am no laymen. I wrote some dissertations about bitcoin which proved to be reliable later, and I had a great number of followers. I gave my priority to bitcoin, donating great time and effort and I believed that bitcoin could rise ten times of its initial price based on my research.
Again, it didn’t make much difference. Not so many people became rich, not even professional miners, programmers, ASIC designers, technicians and cryptologists. Most companies went bankrupted and simply disappeared. Is bitcoin so hard and impossible for common people to understand and master? That’s not the case.
3, Industrial Players
I used to work at ALTCOIN ASIC, the first bitcoin mining company in China. Its founder was a boy of 20 who runs the world’s largest mining pool. The CEO is one of the writers of Bitcoin by CHINA CITIC PRESS. Besides, the company worked with Chinese Academy of Sciences and it received 10 million RMB in its seed round funding. It didn’t take much time for them to set up an exchange and start several projects. Unfortunately, just like common stock investment, listed companies, employees and even senior executives didn’t earn a fortune from price volatility.
4, Successful Investors
Since early adopters, industrial players and experts all failed to make money, can we say that nobody ever makes any profit? Actually, that’s not the case. I know some successful investors like Li Xiaolai( a Chinese Bitcoin multimillionaire) who has been holding bitcoin for years. I heard that Ding Lei (founder of NETEASE) is also investing bitcoin. If it were true, I guess he didn’t lose any money. Generally, there are people who are not necessarily experts or early investors, but they earned a lot from bitcoin.
It’s definitely not a happy feeling to see others making money. I thought I would complain as I always did, but not this time. 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. When I gave it another thought, I realized that if I invested on VIPS, YY and other stocks that I was familiar with, it would be another story. It’s all about me being too greedy.

bitcoin
Now all I am thinking of is that how come some experts and early investors in stock market didn’t become wealthy?
If it’s true that some people fail because they are not professional, then how come experts who can even estimate EPS also give up?
As a top investor (at least I think so), I am still too young, too simple. I failed not for lacking skills, but for my thoughts.
Man is but a reed. What makes one different from another is mind. Great people often entertain great minds. The strategies and decisions of a businessman lie in his mind.
If he is short-sighted and sees his company as a tool of making money, there is no way he would be successful in the long run. He is destined to lose all due to one mistake.
For those who have made profits in bitcoin, they are already successful in other areas. Take Li Xiaolai for example (the richest person in terms of bitcoin ownership in China), he himself is a well-known English teacher. One could tell how wise he is through his book A Friend of Time by CHINA CITIC PRESS. I talked with other successful investors who are running great companies and only regard bitcoin as an investment project. They would keep a peaceful mind in all cases.
In terms of stock market, successful investors would have the patience to hold their stocks for a decade or even longer. We do what our minds tell us and we pay for our behaviors. This is life and we’ve got nothing to complain. We each should remain peaceful when we’ve already done what we are capable of.
This is what I mean by faith. Faith is willing to hold your stocks for years when you are sure it would make a difference. I am not saying you should do nothing and stick to it blindly. Instead, use your judgement and see what happens.

faith

With faith, investors succeed.
With faith, entrepreneurs succeed.
With faith, stockholders succeed.
As for future investment, here are my suggestions.
First, it’s impossible to predict short-term price. When you invest, always bear this in mind
Second, price is decided by supply-demand relationship and company operation.
Third, prepare for possible consequences. No one knows what would happen in the future. You make a decision after all factors are considered.
Fourth, improve your judgement. You should work to improve your judgement so that you would not blindly follow those so-called experts. Remember, read more and ask more.

COMMENTS(47)

  • hl5460
    3 months ago hl5460

    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. ————————————————————————-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

  • pedrog
    3 months ago pedrog

    I can relate to that, I too am an early adopter and saw bitcoin in the ~$60, I am not rich.And I lost my coins in a lot of scams and made poorly trade decisions.It sucks.

  • tommy163
    3 months ago tommy163

    Quote from: pedrog on February 23, 2017, 08:59:57 AM
    I can relate to that, I too am an early adopter and saw bitcoin in the ~$60, I am not rich.And I lost my coins in a lot of scams and made poorly trade decisions.It sucks.

    That is a sad story, I am good at holding my bitcoin, that is why I still own 3-figure bitcoin now. It is a wonderful dream which I made it come true.

  • Herbert2020
    3 months ago Herbert2020

    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: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 endQuote
    With faith, investors succeed.With faith, entrepreneurs succeed.With faith, stockholders succeed.
    this is bullshit.faith is only for idiots and old women in a nunnery. you need knowledge and experience to be successful.

    • Cindy23
      3 months ago Cindy23

      Wow, impressive

  • darkangel11
    3 months ago darkangel11

    Do you want us to pity you OP? You haven’t made a fortune, but you made money. You haven’t said how much, but I expect working in that big Chinese company has brought you significant profits. You’re probably dreaming of becoming a bitcoin millionaire, but if everyone could easily become one we’d be living in a world full of millionaires, dreaming of becoming multimillionaires.

  • lumeire
    3 months ago lumeire

    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.

  • nara1892
    3 months ago nara1892

    to be the earlier adopters, I think it should be difficult because the tech was developing, and of course there would be money loss. however, it is the risk in business field. there are loss and profit. it depends on your destiny. there will be the good thing beyond that.

    • Cindy23
      3 months ago Cindy23

      I guess u r right. Even if u lose, it would be like a blessing in disguise. u nv know.

  • romero121
    3 months ago romero121

    Being an early adopter of bitcoin itself something a great thing. Due to some sort of failure he was unable to cope with technology that advanced from the scratch. Now realizing and thinking the past doesn’t gonna make things better. Even now the time is not too late to grow with bitcoin and other digital currencies.

  • bitbunnny
    3 months ago bitbunnny

    I think early adopters who have kept their coins long enough and made good predictions about Bitcoin future are rich now. But there is just a few of them and besides you also have to have some luck too.There is no point in regretting now, just think on the future and be prepared for future opportunities.

  • CoinBreader
    3 months ago CoinBreader

    early adopter for my definition is Buy Bitcoin under 20$ , mine bitcoin from your desktop computer using your cpu, if you done all this and still not being rich, then you have made a hell of wrong moves with your free money, 

  • requester
    3 months ago requester

    i always wish that had i been entered the bitcoin network back in 2013 or so  because bitcoin was so so  cheap at that time and now i were owner of at least 5 6 bitcoin easily. but its my misfortune that i hadn’t did so. but you guys are lucky that you entered the bitcoin network long back but its too your misfortune that you couldn’t make a good fortune.

  • hajimasan
    3 months ago hajimasan

    All you have is misfortune and your misunderstanding with bitcoin. You could have made a huge profit in this course of time and you probably could have been become a rich guys.

  • Meuh6879
    3 months ago Meuh6879

    Quote from: Herbert2020 on February 23, 2017, 09:14:46 AM
    you need knowledge and experience to be successful.

    so, a person that it has bid gold in 2000 at 200 USD … and sell it at 1300 USD … have no faith ?stockholder have faith to keep a thing more than 10 years.

  • Harlot
    3 months ago Harlot

    What he is feeling right now is pretty common to investors who missed an opportunity or realize they have taken profit early. But the good thing is he had a good experience with it and that experience have thought him greatly about investing. Me as an investor I need to believe in my investments that it will go too the places I expect it too be. One good advice is to control your emotions about your investments.

  • layoutph
    3 months ago layoutph

    I wish that I bought some bitcoins before it was few cents per piece. This is my daily regrets

  • BitcoinAllBot
    3 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • hardtime
    3 months ago hardtime

    Quote from: pedrog on February 23, 2017, 08:59:57 AM
    I can relate to that, I too am an early adopter and saw bitcoin in the ~$60, I am not rich.And I lost my coins in a lot of scams and made poorly trade decisions.It sucks.

    Not fully in the same boat but I was a currency exchanger around the time when Bitcoin was around the $300-$500 USD per bitcoin mark. It’s pretty upsetting to look at it now and see that if I just put the amount of money and time I put into trading into just buying and holding I would’ve made the same amount of money plus a couple thousand.Plus, I wouldn’t have even needed to do anything and just let the bitcoin sit till now. I guess we can’t ponder on the past and we just must look towards the future, it’s the only way ONWARDS

  • AicecreaME
    3 months ago AicecreaME

    Quote from: hl5460 on February 23, 2017, 08:14:58 AM

    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. ————————————————————————-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’m not an early bitcoin adopter but I know what you feels, a friend of mine, is an early bitcoin adopter, he started doing bitcoin when it was almost free in the FAUCETS giving 1-3 bitcoin, something like that, but he didn’t pay attention on bitcoin that time, he lost his interest and just got back again on bitcoin just this last year, and he do really regretted it. He said to me this If I only didn’t quit doing bitcoin in the first place, probably I am a millionaire right now. and he is right, it is really regretful, but he also said to me that we don’t to live in the past and keep always reminiscing our mistakes, because it won’t help.What we need to do, is to focus on the present, we are still lucky because in all of the people around the world, we, bitcoiners knows about bitcoin and others don’t. We earn money in an easy way, and they don’t, that is why instead of regretting the past, why not enjoy the present.

  • miscreanity
    3 months ago miscreanity

    Greed. Interesting read for the perspective.

  • hl5460
    3 months ago hl5460

    Quote from: CoinBreader on February 23, 2017, 12:48:19 PM
    early adopter for my definition is Buy Bitcoin under 20$ , mine bitcoin from your desktop computer using your cpu, if you done all this and still not being rich, then you have made a hell of wrong moves with your free money, 

    That’s elite adopter. Only a few people could hold that long. I just cashed out 10 coins for my friend yesterday. 150% gain within a year is more than good enough for him.

  • hl5460
    3 months ago hl5460

    Quote from: layoutph on February 23, 2017, 02:03:28 PM
    I wish that I bought some bitcoins before it was few cents per piece. This is my daily regrets

    Cents would be too greedy to ask. I think @100 dollars would be fair to be qualified as early adopter.

  • Japinat
    3 months ago Japinat

    Everything is based on luck, maybe we are not that risk takers that time, it’s really a big failure if you know bitcoin at early stage and you do try to risk and hold it. Now that the price is going to hit the all time high, it will really hurt and especially when the price keeps rising. But don’t just end our dreams because we failed in the past, bitcoin still offers great opportunity to invest and hold now, I hope you see it, it’s not too late yet.

  • cartridgez
    3 months ago cartridgez

    You can tell he learned a lot about himself. Best of luck to him

  • 8btccom
    3 months ago 8btccom

    Best wishes for you.

  • BitcoinHodler
    3 months ago BitcoinHodler

    i think the article was either poorly translated to English or the author is poorly telling the story, maybe my Inglish Soks.in any case instead of talking about why we didn’t invest while price was $100 and regretting the years gone by we should start thinking that yesterday price was lower than today and tomorrow price will be higher than today for at least a couple of more years.if you care about profit invest today and become a BitcoinHodler instead of being afraid and postponing it until you find a dip!!!

  • HatZpApA
    3 months ago HatZpApA

    For who believes in bitcoin , maybe even an investment now at ~$1200 might be a good thing , if we think that BTC will go higher and higher as projects appear and businesses accept it as payment.But as well , there might be a price correction in the next year , that could lead to a price of 500-700 and that would certainly be a point where “early investors” can get in!

  • Sniper44
    3 months ago Sniper44

    lots of us that are here today have missed the chance to buy bitcoin at very cheap prices either for stupidity or lack of awareness. but we have had so many good opportunities for about 2 or 3 years to become a part of bitcoin’s early adopters. there has been super cheap prices 6 times less than today.the only reason why anyone misses the chance of becoming an early adopter of bitcoin is laziness and nothing else.

  • bloodnest
    3 months ago bloodnest

    It honestly hurts how some Bitcoin (earlier) supporters such as myself miss out on opportunities because of the scams we invest in – that or just the necessities in life call for us to use up the investments we put into Bitcoin. Right now, like f*** man, why haven’t I found success yet? … It’s a cycle, I’m just hustling and striving to make an income online where I don’t have to break my principles.

  • danherbias07
    3 months ago danherbias07

    Quote
    With faith, investors 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.

  • severaldetails
    3 months ago severaldetails

    Quote from: bloodnest on February 24, 2017, 01:56:08 PM
    It honestly hurts how some Bitcoin (earlier) supporters such as myself miss out on opportunities because of the scams we invest in – that or just the necessities in life call for us to use up the investments we put into Bitcoin. Right now, like f*** man, why haven’t I found success yet? … It’s a cycle, I’m just hustling and striving to make an income online where I don’t have to break my principles.

    I think it’s the same with most things in life. Afterwards people are always smarter. Not just in economic things.If I had know how things would end up with my wife, I would have surely taken another one…I have found out, at least for myself, never to bee to greedy, that makes you blind.And be happy with the things you have, that gives you satisfaction.

  • BTCLovingDude
    3 months ago BTCLovingDude

    Quote from: danherbias07 on February 24, 2017, 02:02:55 PM

    Quote
    With faith, investors 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.

  • Blackdeath
    3 months ago Blackdeath

    Quote from: danherbias07 on February 24, 2017, 02:02:55 PM

    Quote
    With faith, investors 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.
    The more profitable here is those people who put their faith in Bitcoin as Bitcoin strives im votality. We shouldn’t regret if we sell bitcoin as we used it for our needs and assistance. Holding bitcoin isn’t risky in my opinion as it was popular to the market which make it stronger, hence it won’t fall so much. What risky in Bitcoin as it continure rising up is to trade it to other currencies.

  • doomistake
    3 months ago doomistake

    Quote from: lumeire on February 23, 2017, 10:05:20 AM
    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.

    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.

  • Idaho
    3 months ago Idaho

    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.

  • Windpower
    3 months ago Windpower

    Quote from: hl5460 on February 23, 2017, 08:14:58 AM

    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. ————————————————————————-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.

  • hl5460
    3 months ago hl5460

    Quote from: Idaho on February 24, 2017, 03:39:44 PM
    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.

    That’s quite a story. Thanks for sharing.

  • Ashong Salonga
    3 months ago Ashong Salonga

    Quote from: iram3130 on Today at 05:57:29 AM
    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.

  • Idrisu
    3 months ago Idrisu

    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.

  • error08
    3 months ago error08

    Quote from: Herbert2020 on February 23, 2017, 09:14:46 AM
    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: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 endQuote
    With faith, investors succeed.With faith, entrepreneurs succeed.With faith, stockholders succeed.
    this is bullshit.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.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.

  • Amph
    3 months ago Amph

    Quote from: bitkilo on February 24, 2017, 02:54:47 AM
    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.

    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 gainintelligent 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

  • iram3130
    3 months ago iram3130

    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. 

  • Fraxinus
    3 months ago Fraxinus

    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

  • warwar
    3 months ago warwar

    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

  • User365
    3 months ago User365

    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 

    • Cindy23
      3 months ago Cindy23

      Have already experienced both scenarios? i bet u hv a lot of life stories to tell.

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