Below is a list of trades I either pulled out of after owning the crypto or decided not to invest in it. The main reason for me doing this at the time is people generally saying, anything besides Bitcoin is bad, or anything besides Ethereum is bad, or that is a scam... In may cases, the long term viability of theses coins is basically 0, but if I would have invested in them like I wanted I would be able to quit my job and live off of the profits.
- Ripple - I originally was thinking on putting $1000 in Ripple as a pure bet, but 2 things put me off; the first being the total supply and the second being it was used for the banks. Instead, I invested in something else which was a good investment long term, but if I would have done what I wanted I could have paid off all my student loans. I would have been a millionaire.
2)Sia Coin - I potentially (couch cough) invested $1000 in mid Feb. In April, if I ever have owned the crypto I pulled it out. I did this because it took my computer 7 days to download and configure the software they used and it was really slow. If I left it in Sia I would have $40,000 + right now
3)Bitcoin Dark - Back in Mid January I was considering gambling and putting a couple hundred in Bitcoin Dark because it sounded like Bitcoin and thought stupid people would buy it and pump the price. Instead, I put it in something else which had a nice increase, but not as near as nice as Bitcoin Dark. I would have $40,000 + right now
What to take away from this?
Use your gut and do your own research. Because someone is saying something is bad, and even though they might be right, putting $100 in something could net you a nice profit. (Do your own research, I'm not a financial advisor)
If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"
You said it. Do your own research. Do not buy into the FUD. I've done similar stuff in my trades. We all have. I appreciate your honesty here. Not everyone is willing to share their mistakes with the world.
The best thing to do, is to learn from them. I remember selling 50 Ethereum in a panic for around 18 dollars one day when it dropped. I was just getting my feet wet in crypto . . lol . . And then I bought back in around the 28 dollar range. Mistakes like that you HAVE to learn from. :)
Great post! I can identify, and I'm sure many others can too.
My worse mistake was I bought 50000 ripple when it was $0.006 I took it out at $0.035 if only I had have held
I did about the same thing @alexrickard86. We just live and learn.
It's all part of life 😀
I did the same thing with Dash, Ripple, and Zcash.
That's all part of it though, if you knew the outcome there would be no risk. All I know now is whatever I have money in its staying there and not moving
Im sorry to hear about all the trades you missed... Don't feel like your failure though, theres only one thing worse than missing a trade, and thats not trading at all. I'm sure that you will do just fine for yourself and will be able to pay off your student loans when BTC hits 4000 later this year! Take calculated Risks!
Agh!... If wishes were horses, beggars would ride. Never look back my friend. Keep your eyes on the prize and your ship will come in.
This I think fits into your discussion on the crypto markets and opportunities.
I have been sharing this info on something not widely known/talked about, crytpo related stocks. For me , just another opportunity to capitalize on this new and exciting paradigm. They are currently trading for pennies.
The stocks I think, give that still large segment of people who are not ready to learn about crytpos and exchanges, but have been on the sidelines hearing about all the excitement and gains, the opportunity to get on board this earth shaking crypto move, but within their own comfort zone by simply buying a stock that is related to bitcoin.
Most of these people already have a stock account they know how to use and in this way can participate easily. There are very few crypto stocks so these are already starting to skyrocket just in the last couple of days but may present an very unique opportunity. As a warning, there is not really a ton of info about them so use risk capital only!
I have put some money into them in just the last 1-2 days, already up significantly which means they may skyrocket further, or pull back hard, I do not think anybody can predict. Dollar cost averaging is probably the best way to enter at this point as they are just moving so fast now and price points could be anywhere next week. Anyways, I thought I would share, fwiw.
Here is a link with some of the info on 2 of the stocks crypto stocks that I just put together for myself and others as a starting point for due diligence.
https://steemit.com/bitcoin/@motowngold/global-arena-holding-inc-gahc-another-rare-bitcoin-and-blockchain-stock
Thanks will look into the stocks you mentioned in the post
You are welcome, they have a lot of potential risk or reward, time will tell, I took some speculation money and put some money into them, so far so good.
Great post my friend. It just shows that hindsight is 20/20 and if we knew the future I guess it wouldn't be investing they would call it a "Sure Thing" lol
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thank you ,for all this . Big respect :)
Thanks for the post.
i had the same idea but in my case i simply had no money left ^^
thanks for sharing
I have a few similar stories, glad to know I'm not the only one.
Some lesson learnt!!!!
You are not dead yet, there are still enough opportunities :-)
If I could, I'd throw $100 dollars at every ICO. Yea, a lot will go bust. Some may become somewhat profitable. But a few will be those home runs we are looking for.
In many cases ICO's are over-valued (Some not). If you wait a week or two after the coin is released, you can often find the coins cheaper but you risk the price never dipping down (temporarily)
This is actually a valid strategy. Put $500 in Feb into AntShares. Its up 1000+%. I cashed out my original investment, and now I am letting the rest ride risk-free.
Don't feel to bad, you will still make a lot of money on the ETH and BTC you have. Hang in there ! :-)
Thanks ..indirectly it helps me a lot<3
Preciate the hindsight bro. Hopefully this will encourage to hold out if they can afford to.
I know you're not stressing it tho because all that did was prepare u for bigger and better deals in the future!
It is hard living in the land of what ifs and should haves. If I kicked myself for everything I missed I would be bruised and probably dead. I'm learning not to be that too smart conservative skeptic and just be diversified and take chances.
I must tell you though I'm so thankful that I found steemit last year and that is when I started learning about crypto currencies. Here I've been into computers since 1980 and sure I've done well off my software but I never invested into anything but land, silver and gold. But now I'm playing catch up at 56 and a little more diversified.
I'm following this procedure in my mind: "Leave your coins alone and just forget it a little bit! " Anxiety is the root of all losses. It's a long term bet. I've buyed some stellar lumens. It's a piece of crap right now, but I'll just leave it alone for a year to see what happens. In this meanwhile I'm buying another coins.
@cryptowallet Thanks this is extremely helpful! :)
Thanks for sharing
hindsight is always 20/20 as they said. I can relate, because I invested in bitcoin back in 2011 and I got scammed by cryptsy since they basically locked me out of my account for no reason and took all of my money. After that I got shy away from crytos for a while thinking they are all scams.
Thanks for sharing you experiences crytowallet. True helpfullness includes sharing unfortunate outcomes as well as the fortunate ones. Thanks for your honesty.
Great testimony! I couldn't agree with you more. Though being cautious is never frowned upon, hesitation can definitely cost you in the long run. Good luck with your future investments. About to follow you!
Ripple was at a certain point 1 cent, then it tripled in one day and ended up to 40 cents for a short time, I bet you didn't bought it cheap ...
I am.new in the Crypto world but i have done a lot of mistakes as well. I think we all fall under the same path and we all panic when prices are dropping and somehow we all want to sell in that moment! Congratulations for your post. I think more people should expose the their mistakes so like this reading them we can avoid them. Have a great day and i hope soon you will make a post sharring your succes!
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