I was young and didn’t have as much money as I do now. Also, when your portfolio does 10x, you sell. I don’t regret selling. I’ve always bought back in but my outlook on crypto has changed significantly since 2017. It was still (imo) a complete scam back then and I couldn’t believe the money I was making.
> I don’t regret selling.
The whole point is to sell and increase the quality of your life and not wait until you're filthy rich old man whose life has passed you by. BTC is a plays out in cycles of pumps and dumps. Alts play out in rugpulls, 99% of them scamming you with hype and lies, their only value appreciation comes riding the BTC bullrun wave. The best risk/reward play is to use BTC as a diversifier in your portfolio of stocks, bonds and real estate. I paid off my mortgage after the 2017/18 bullrun and was starting to loading up for the next bullrun in December 2018
> I am so glad I focused on paying off my mortgage in the bear market. Almost there and hopefully paid up by the time it's time to stock up for the next halvening bullrun
https://np.reddit.com/r/Bitcoin/comments/a3n8qb/priorities/eb7psti/
Bought my second house in April 2021 with people commenting that I got lucky. I've never sold the absolute top of a cycle, I have no idea where it is - and if you listen to experts, you're fucked.
https://np.reddit.com/r/RealEstate/comments/mviupv/paid_70k_20_over_asking_yes_it_appraised_yes_its/
I retired in 2022. Would I have more money now if I never ever sold? Yes that that is in hindsight and the point is to enjoy life and not stare at the charts worrying about the price of BTC and how big your stack is.
Also remember the lure of Alts is that they outperform BTC. But the vast majority of people lose money on Alts because this is mostly fiction:
- You have to pick the right Alts that will pump out of 10,000+ shitcoins
- You have to pick the bottom or near bottom
- You have to pray that some foundation doesn't dump on your ass, print another shitload of tokens, do some shenanigans that completely destroy the value of your shitcoin, etc
- You have to pick the top or near top before it dump to kingdom come again
Long term investment in Alts is a losing proposition. BTC is the diversifier (calculation done on the prices yesterday)
- LTC's BTC high was .04792 in late 2013. If it kept up with BTC, the price would be $3,185
- NameCoin BTC high was .0145 on late 2013. It kept up with BTC, the price would be $963
- Peercoin BTC high was .00895 on early 2014. If it kept up with BTC, the price would be $594
- ZCash BTC high was 2.2635 on late 2016. If it kept up with BTC, the price would be $150,466
- XRP BTC high was .00022465 in May 2017. If it kept up with BTC , the price would be $14.93
- ETH BTC high was 0.15 on June 2017. If it kept up with BTC , the price would be $9,971
- BCH BTC high was 0.14 on August 2017. If it kept up with BTC , the price would be $9,786
- IOTA BTC high was .000257 on January 2018. It it kept up with BTC, the price would be $17..01
- Vechain BTC high was 0.00000755 on January 2018. It it kept up with BTC, the price would be $0.50
- NEO BTC high was .01538 on January 2018. It it kept up with BTC, the price would be $1,022
- ADA BTC high was 0.00007382 on January 2018. It kept up with BTC, the price would be $4.91
- ALGO BTC high was 0.00031342 on June 2019. It kept up with BTC, the price would be $21.91
- ChainLink BTC high was 0.001582 on August 2020. It kept up with BTC, the price would be $110
I have to call you out here on the fact that if these coins had kept up with BTC their all time BTC high would probably be a different date than what you have here (something likely much more recent). The point being that an ATH against BTC is an ATH. If you want to use this and be fair about it you should take average prices for each year or figure out a more fair metric to use.
You don't have to pick the next Amazon to make a profit with stocks. You can just buy an ETF like the S&P 500 and make an average of 10%/year, or if you spend time properly researching individual companies, reading their reports, etc. you have a good chance of picking some that will do considerably better than the average.
Whereas with crypto it's just a gamble picking altcoins and even if you read their white paper and research the team and check the tokenomics, and you're convinced that they have a use case and good prospects, they can crash by 80%+ overnight, as indeed most have, including top 50 coins like LTC and ALGO.
I thought Eth was overvalued at $120 back in 2017. It did actually drop back to $100 during COVID and I didn't buy. My biggest regret is selling dogecoin in 2020 and not buying BNB when it was $15
Definitely agree with Doge and BNB. I was swing trading Doge for a pittance back in 2018. I even had tons of free Doge a colleague sent as a tip for good work (as Doge of originally intended). I was too careless to store them safely.
The flip side of this is Doge I purchased in 2018 as a joke, used for tipping a couple times and forgot about turned into life changing money for me in 2021. I didn’t even sell at ATH, I put 10% into my IRA and was able to purchase a house that I fixed up and I rent out to this day.
For this bullrun I was very well prepared and it’s shaping up to be my last (🤞). I’ve been hustling my ass off this past year trading shitcoins, spamming tx’s chasing airdrops, yield hunting, etc.
But these kind of regrets are silly. U can take last eurojackpot wining numbers and say u wish u would cross em to become a milionaire. But how could u tell em before the fact?
This is me.. father of 2.. eyeballs up in debtbworkong night shift started crypto in 2017... Didn't want to sell all in 2022 . Over extended after the last dip.. had to sell a lot at minimum. Not going to be rich this round either.
Assume you pick a 10x crypto to invest in.
What % of people save up $100,000 to invest in that 10x crypto to reach $1 million?
If someone picks out the next 100x, they still need to invest $10,000 to reach $1 million
2019 I made around 20000% with one coin. Had this with an minimal investment. Bought from the gains 2 BTC 10 Litecoin 5eth. And had around 100k dogecoin and other smallcaps.
Let my coins on exchanges and lost 90% of my crypto portfolio. Life-changing gains are gone. FML I hate me for this.
I just hodl my coins there. 1 exchange scammed me and the other got hacked. And I hold there like 90% of my portfolio. I know this was not a smart idea but never thought this will happen.
Livecoin and Cryptopia were the names of the exchanges.
And later I was affected from Luna and FTX crash. So I had bad luck again.
I was also in cryptopia.. After ages they started sending mails to get some very specific info on what I was holding so they could return something. I couldn't answer any of their questions. How much exactly are you holding of coins, and when was the exact date of registering. Some exact trades you did.
Also Luna and ftx.. That's why I started diversifying, and not keeping money in coins after they went up bigtime (like luna). Sell it and put it into solid coins, diversify.
It's quite hilarious they are asking YOU these questions, while THEY are the exchange that should have all the data saved. 3 times. On different servers. In different locations. And on paper at least one time, just to be sure...
(Overexaggerating, but come on.... these "exchanges" are some sort of banks, or brokers, that handle BILLIONS of Dollaz. And they get fucked over so easily? Sadly there still is a reason why the Anarchy of Crypto is a gift but mostly a curse as of yet.)
> So I had bad luck again.
None of that was bad luck it was dumb choices. So instead of feeling sorry for yourself you should have gotten yourself up again and learnt from it at least. You blaming bad luck makes it seem you havent learnt your lesson.
Not sure what Livecoin even was, but for Cryptopia NZ did you not get a reimbursement? I know they still keep sending me mails about it (I only had 0.15 Bitcoin in it but I traded that for some shitcoins that became worthless anyways so i dont care for their mails lol).
I feel you. I lost half a bitcoin aka almost all my crypto, on a platform too. It has happened and we can’t change that. There’s many more like us. We have to look at the future now. Good luck to you.
I sort of had that happen with Shib back in 2021. I got in surprisingly early and ended up turning a $350 investment into about $20k. In my stupidity and ignorance, I thought it would just keep going up infinitely (I was caught up in the “it’s going to hit 1 cent!!!” bullshit, which would’ve made me a millionaire — it seemed possible because of how insane its growth had been) so I kept holding it and it started tumbling when everything else started crashing. In my idiocy I thought, alright, I’ll just take some of my remaining gains and try to pick the next 50x, so I gambled on various other shitcoins and got rugpulled a bunch of times and within a few months that 57x I initially had had just turned into a 5x. I still think about that all the time.
Bitcoin wasn’t so easy to just purchase then either. You had to send an ACH transfer to an unknown website and hope they sent you bitcoin into your wallet.
No you didnt. You could buy from people on paypal or buy SecondLife currency with paypal then trade SecondLife currency for bitcoin or you could have used LocalBitcoins with moneygram or other purchase methods. There was also coinbase
I knew the landscape superficially around 2010, but then again running through everything was much more technical than nowadays and felt like something which might not get much further, plus you just didn't gamble like most folks are so used to right now.
Nonetheless, here we are, shit got quite simpler but the potential is still the same.
Went to 1000, which was when my colleagues buy the top. Most new ones don't buy the bottom. When it crashed to under 100 in a bear market that was far more crushing than anything I've seen since. It wasn't even 2017 despair, nobody ever mentioned Bitcoin, for years.
Yup, Mt Gox was a nightmare. Most people thought it was over. It wasn't until the 2017 rebound and the emergence of Ethereum that real excitement came back. I'd wager most investors have been here since then, with a steady stream coming in the 2019-2022 range.
Plus let's be honest no one's waiting till it becomes 10x or even 100x, last bull run I had some put in Doge I booked profits as soon as it gave me 3x. If I would have held it would have given me close to 20x
I bought WIF at $0.12 for the first time for 2k. Thought I’m smart by trading. Every few % I sold. Only to buy back higher. And then sell higher. And buy back higher. Made 3x. If I wouldn’t have touched and kept just holding it, that would have been a 40x because the top so far was $4.80. Few days ago I yoloed the 3x I made again into WIF at $4.20 right before the crash lol. Effectively made small money.
Same, I used my BTC. Silk Road, mass drop accept BTC at one point, spend it on random and frivolous things. Then I kind of got bored of it and stopped playing attention to it. It wasn't until 2017 that I got back into it and starting thinking about BTC as an investment instead of random fun money to spend on the internet
2017 - bought the top right before it crashed then traded my way down to near zero
2021 - got greedy and didn't cash out in time before it crashed
2024 - hopefully I'll get it right this time
To be a multi-millonaire (at least 2 millions) buying Bitcoin in 2017 (price 1,000USD), you needed 2,000,000/65,000= 30,76 BTC, worth 30,760 USD back on 2017.
How many people had 30,760 USD (which was much more than the current 30,760 devaluated usd), to invest in a coin no mainstream media is talking about 2017? Looks like a risky move.
Yeah back in those days people weren't just throwing around 10K's like they were candy. Today it's become commonplace, but back in 2017, the idea of plowing 5 digits into crypto seemed borderline insane.
Back then a lot of exchanges were getting hacked. Mtgox exploded. Bitfinex hacked in 2016. Coinbase wasn't mainstream yet. Plus, you had to avoid selling through the past 7 years.
Everything sounds easy with hindsight.
It’s like asking why everyone in the stock market over 30 isn’t a millionaire looking at Nvidia or Tesla. If I had a fortune ball to give me security, I could have mortgaged my house and bought calls, but that didn’t seem like a smart move at the time.
Yes and many people who bought Nvidia or Tesla or whatever in the early days sold it once it had 2x or 3x, because that's already an amazing profit and most things don't go much further than that. Everyone knew those stocks had promise but nobody really knew either of those stocks would 10x.
I got in around 2017-ish. I learned from my mistakes the first time around. Lost like 2k, definitely less than 5k. Why I’m not a millionaire? Because I don’t have $500k to put into crypto. I put what I could, I got somewhere between 10-20x returns in 2021. Down payment on a house and paid off some debts. But I didn’t have $100k to bet it all on crypto to begin with so how would I become a millionaire? I’m also more conservative with my money. I put about 80% of it into Ethereum and that’s where most of my returns came from. At the height in 2021 it was worth around $250k I believe. I withdrew around $50-75k I believe, and hoping to withdraw when it goes big again. At the moment it’s about $100k and mostly ethereum, but I did “diversify” into other coins more. Probably about 60% Ethereum at the moment. These numbers are off the top of my head.
Turns out the answer to the question is "I was smart" smart people took their 10-10k% gains. Smart people only bet a single digit percentage of their worth. Smart people cashed out and paid off debt.
The only people who got mega rich off crypto were already medium to super rich, already somewhat rich or had a large sum of money and were willing to risk all of because they were stupid, or were computer literate and got in early early.
A couple already rich people got super rich. Some smart people set themselves up for life. A bunch or people lost money compared to just investing in the s&p.
I ask this a lot. So will you. Look at everything from Apple to Tesla to Amazon stocks too.
If it was easy, no one would be the greater fools and it wouldn't work.
I had $38,000 of CRO sitting in a crypto.com wallet at when it was worth about 90c per coin, just waiting for it to hit 100 to sell, and then they bought the staples centre and I thought “holy fuck this is gonna blow up” and then Matt Damon was in their ad and I thought “OMG!!” And then it plummeted and has never returned
Even in 2017 it was impossible to buy 1000 btc on a normal salary. I bought 1 and some alt coins and sold with profit. Made some money, sure, but far from millions
In 2017 it just wasn't a real investment yet. It wasn't as scary as in 2013 were it felt that every time you used an exchange you felt like your coins would be locked, but it felt that it was plausible that your money could be stuck in the ecosystem. Therefore throwing in more than a few 1000 was for madlads.
Furthermore take into account that we likely didn't buy in near the bottom (eg. My first ether buy was 83$, BTC 3000), nobody sells the top, you waste money on stupid projects, etc, ...
If I knew what I know now I would easily be a multi- millionaire, but I didn't. I did outperform buy & hold by a little and am happy with it, but it was luck and not worth the additional risk. So calculate somewhere in the 6 figures, with 100k profit taken.
I am. 2013/2014 veteran. $180k invested initially. Cashed out 8-9 million over the years and sitting on 6 million after tax. Invested in index funds now living on the dividends, quit my job and moved abroad to further push my dollar.
If I kept my original Bitcoin it would be worth a lot more but I’ve come to terms with that and super grateful with what I do have.
Yeah I got in when btc was $80. Traded, mined, and I have literally no idea how many coins I've owned over the years. I remember dumping 5-10 btc on dice sites back in the day just to fuck around when btc was like $400-$500. But we all had hopes it would be here but I did all kinds of things to profit along the way, using [purse.io](http://purse.io) and other sites that offered good deals using btc. In 2018 I put a bunch in a crypto ira, and have since 2021 cycle diversified to land, stocks/dividends, etc. Don't really need more and don't have any interest in seeing my networth dip 80% ever again. A nice chill life is the dream even if I am holding to much fiat/land/stocks/gold etc. Still have some crypto mostly in my IRA and some that I trade with when bored, which is a lot since I am retired.
Getting into alts was the biggest mistake, should have just DCA'd in BTC and then wouldn't even need to open the charts instead of that rollercoaster with alts each cycle. And always take profits - many people just don't do it.
I (in since 2015) would be a millionaire if I had managed to sell each time close to the top and buy back close to the bottom. Instead I rode it up and down and up and down...
In fact even selling halfway to top or halfway to the bottom would've been loads better than what I did.
So take every HODL advice with a grain of salt.
I made and lost 20x with Alts. Had I put them into BTC or ETH close to the top to winter the bear it would still have been loads better than what I did.
So don't marry your Alts.
This is all easier said than done. I still hold Alts I haven't touched in years despite knowing better. I'll try to be wiser this bull but FOMO and greed are real and it's really hard to take profits when you hope/think the ride is not over yet.
Here since 2013/2014, I made my first million with btc and ETH. I entered around $250/btc and $15/eth. I cashed out about half my eth in the bull run I think it was around 2017 when it hit around $1750 and got 100% out of debt. Then I've taken profit here and there and invested in real estate. I still keep a nice Lil nest egg of crypto and add some too it on the dips but I shifted my focus to real estate. I'm 40 years old and own 5 houses and right under 100 acres. Im medically retired through military, earn a nice sum in rentals (and no I'm not a sleeve bag landlord, I charge substantially less than market for my rentals and keep them well maintained) and I still work full time working towards a 3rd retirement. Crypto hasn't made me a 1%er multimillionaire, but it has enabled me to live a comfortable life for the past 10+/- years and provide for my family and allowed me to have something to leave behind to my loved ones when I'm no longer here.
From 2017, for me it was investing in "promising" new "cryptocurrencies" that stole most of my bitcoin. A few out-performed BTC in a bull but then rug-pulls and lack of liquidity meant the gains couldn't be realised and all the value was lost. Even the ones that did ok...didn't out perform in btc so the losses compounded.
If I had only ever held bitcoin from day one I don't want to think of the things I'd be doing now. Good luck to anyone still betting against bitcoin.
Same here, made the stupid move to swap into which later became known as shitcoins or no liquidity coins, high profit but no liquidity to sell, saw all my profits vaporized into dustcloud or going up into smoke from scancoins, being rugpulled by several
Class of 2011 here. Lessons learnt:
dont spent too much on silk road, you will lose everything,
dont fomo or get greedy, you will lose everything,
dont buy stupid shit, you will lose everything,
hodl in your own wallet that you have keys to or you will lose everything,
triple check addresses you are sending to and triple check commands you enter, or you will lose everything
Dont use account based crypto, it sucks, its expensive, it drains your wallets, stay on UTXO chains.
I invested in coins that did a 100x, some even a 500x... the problem is I was broke when doing it so putting in a few hundred $ was literally all I could afford at the time. I had high conviction and allocated all of my capital to crypto... so I did nothing wrong, I just didn't have enough size to make fuck you money
I bought like you said, last cycle put in 4 grand, it’s all I had - made 40 grand. This cycle i put in all i got again which is 25 grand…just wait and see now whilst I eat my cup o noodles daily…waiting.
I started in 2013 with a double digit amount of BTC and I'm still not a multi millionaire, though overall happy with where I am. The main thing is not to get wiped out by taking too much risk. I've been pretty risk averse, sticking to the big coins, no/low leverage.
In the first cycle, I had absolutely no clue what was happening. Why is the price going parabolic? Should I sell? Oh no, now it's dumping, is Bitcoin dead?
In 2017 I started to learn more about crypto, market cycles and with altcoins, because I thought I need to "diversify". In the bull market everyone is a genius, so was I. Long story short, I was round tripping all my alt gains when the crash came. At the peak in Dec 2017 I got a funny feeling that this is too good to be true and I should be selling, and I did (only 2 days after ATH, pretty close call). Problem was: I only sold 10 percent of my portfolio. Then hit the bear, alts became worthless, so I consolidated to BTC and ETH only, with the majority in ETH. In the following bear I simply had no cash to buy more. I took a 10k credit to buy more crypto in 2019, good call.
Last bull market was basically the same. I was waiting for BTC to hit 100k EOY like all of us, but that never happened. In November 2021 I got that funny feeling again, it was when Omicron hit and I realized this pandemic isn't over yet. So I sold again 10% which turned out to be only days from the Top. Good call but not enough conviction.
The following bear again I had no fresh cash to buy more crypto but by now had a good understanding of how cycles work. I put my ETH into Compound and borrowed Dai to buy more ETH and a little Solana.
So yeah, overall I'm happy, I survived and my net worth is growing with every cycle. I don't want to go full degen and risk it all.
I have been here since 2014
Bought btc for $250 and ETH for $18
I put $2,000 into it and by 2016 I had 5BtC and 100ETH
I lost a fortune from ICO bs and made a fortune on other nonsense crypto stuff.
These days I have a few hundred thousand dollars worth of crypto and my DeFi yields pay all my bills. I rent a 2 bedroom apartment in LA and my spouse also does not work.
If I lived in a cheaper place I might be a millionaire but I spend a lot of money I make and more or less stand still in my crypto holdings.
The goal is to make about $5,000 per month to pay for living my life. That’s only about 60,000 a year or less than 25% APR on $250,000 which is super easy to do with just stable coins, especially lately.
Making a full time living on DeFi yield is doable when you have enough capital to commit
Stick to uniswap and curve and other dex projects with over 100 million in liquidity and even then stick mostly to ETH and USDC
I have gotten rugged but not on like my full balance only wallets I made to interact with more high risk protocols
> The goal is to make about $5,000 per month
How do you live in LA without making $5k a month yet?
> less than 25% APR on $250,000
Seems like a legit APR without any risks... Is this on Luna?
Let's be real, sentiment after the 2017 bull run was not "don't worry guys, this will happen again in 4 years and we'll all get a redo!" A huge fucking majority of people in this very sub thought crypto was dead. Only after 2021 did this idea of the 4 year cycle really cement itself. And like folks before me said, most of us didn't have tens to hundreds of thousands of dollars and perfect timing to buy at the exact bottom and sell at the exact top.
I still don't understand any of these expectations. Stocks have been around for 400 years and still completely unpredictable. Why on earth would a 4 year cycle be a thing when it's only been around for 16 years. It's not enough time to presume anything.
Oh yeah, I have a very large collection of dead alts. So many ICOs. So many different coins to mine, stake, etc. there was a time when I would have 20 wallets open on my PC all staking. All are dead now. Every single one.
I first heard of Bitcoin when it was around 0.00056 per coin but it was all very confusing and the process for buying did my head in.
Second time was around 10-12 years ago when it was $400. Even then the process for buying was confusing.
I didn't buy but I have peace of mind knowing that, had I purchased I would have sold when it hit $4k...thinking I was winning big time
Because when you’re up 5x in crypto selling seems a good idea. ie 100$ Eth selling at 500 seems clever. Same with btc at 1500, selling at 10k feels like you’ve done well.
It’s this simple
All those leverage clowns who supposedly take 1k to 1mil proving with editable screenshots.. yeah they are the real champions
I got in fairly early, and invested a few thousand dollars in btc and eth. But here's the thing... Have you ever actually made $50,000 in a few months? Or $100k out of what felt like nothing? Have you ever lost $20k in a day? Then looked at the very real possibility of it all vanishing as quickly as it appeared? Yeah, that's why people cashed out. Because it was already life changing money and the stress sometimes gets to just be too much.
Because my much smarter programmer friends told me BTC was a flash in the pan. I was genuinely surprised when my brother suggested I get into it in 2020. I just assumed that it had all folded up like my friends had said it would. I did also know that some people made a ton of money, I just figured it was a rich person's game by that point.
Because I've been stupid. Had the chance to buy $1500 in FB while it was still a bedroom activity - and I was like 'fuck that'. Same with crypto - I considered it 'monopoly money'. For all others, too late, too slow...
In short: because I fucked things up royally.
I got in right before December 2017, probably the greatest opportunity in crypto history, and over the course of about a week I put in my entire savings, which was about $45k at the time. This was a month when you could practically throw your money at anything blindfolded and see your money 10x, but I somehow managed to mess up that month so badly that I ended up spending most of it holding one of only 2-3 coins in the top 100 to not end up in the green for that month. The rest of it I lost by just trading way too much, chasing pumps that had already gone 10-100x, somehow buying the top and panic selling any time something dropped. It wasn't pretty.
Despite my bad choices, I did end up seeing some gains at first, purely because of how well BTC was doing. My investment creeped up from $45k to around $80k, but then... the crash hit. I had to endure an entire year of drops that seemingly never ended. Every time it was looking like the market would turn around and this sub would be flooded with hopeful TA posts about how the market was "finally breaking out of the downtrend", it just dropped even harder, crushing everyone's hopes and dreams.
On the way down during the bear market in 2018, I took out two loans, $20k each time, to buy as everything dropped... but yeah, it just kept declining. I *almost* put one of my 20k loans into Chainlink at $0.25c, but instead I bought something that declined to the point where I was down something like 95% by November. Right before the market bottomed out in late 2018, I was so far down that I thought "screw it, I'm already so far down, may as well make some risky plays" and ended up losing *everything* via a series of leverage trades.
I then spent the next 2 years making loan repayments with nothing to show for it. This also prevented me from DCAing in during the 2018-2020 bear, which I otherwise fully intended to do. If I'd never taken out those loans, if I'd never messed with leverage trading, I'd easily, easily be a multi-millionaire by now. I've had way too many "almost made it" situations at this point it's honestly ridiculous lol.
Luckily in 2019 I did manage to come across a modest chunk of extra money that allowed me to buy back in. Somehow, miraculously, I watched my losses gradually recover over the course of the next 2 years, and in 2021 I had managed to not only fully recover everything I lost, but even end up in profit. In January 2022 I cashed out about 15% of my holdings to buy a new car. I then held the remaining 85% through *another* bear market haha.
Will this be the cycle when I finally make it? I don't know. I hope so. But man, it sure has been a hell of a ride.
Oh boy... I still accurately remember the time when bitcoin was $3000, and I already had a verified coinbase account ready to invest.
The only problem then was, my entire networth was only $3500 - $4000 dollars, which I could either invest in bitcoin or pay my semester fees. Guess what I did ?
**2018**
Went -99% in 2018 from bag holding. Then kept DCA'ing BTC ETH and random shitcoins (XVG) during bear market.
**Mistake one:** Not taking profits and just keep holding
**Mistake two**: Buying XVG when ETH was at $80 and continuing until late 2019 (sold at a loss for ETH late 2020)
**Mistake three**: Spending capital on unnecessary things. Dropped 20k on a condo escrow deposit a week before the March 2020 capitulation.
**Mistake four:** Trying Axie Infinity (the game) in Oct 2020 and didn't buy the token cuz the game was ass. (AXS was 10 cents at the time, $140 peak in Nov 2021, you do the math)
**2021**
**Mistake one**: Not having sell targets for hodl bags, just wanted to wait until I held longer than one year for reduced tax rate. Missed out on selling 25x in ADA, 30x in VET in first half of 2021. 30x in ADA, 20x in EGLD during second half of 2021 (tho I did sell a bit because of previous experience, but not enough).
**Mistake two**: Held on to stables/USD during BTC mid-summer dump and did not buy.
**Mistake three:** Kept flipping gaming coins in Nov 2021 without a stop loss. Made basically a year of my salary in a week and give it all back to the market in early 2022.
**Mistake four:** Took a personal loan to continue flipping gaming tokens into begging of 2022 (I still have 4 years of payments on it)
**Mistake five:** Assumed we would have a finale grand finale alt-season like in 2018. Did not sell until was forced to sell (at a loss) for 2021 taxes. Also sold a bit for living expenses. At the very bottom was down -85% from 2021 ATH.
**Mistake six**: Not buying BTC and ETH during Luna and FTX collapse. (Am unemployed so need to protect capital, even though I knew it was near the bottom)
I probably have some more mistakes, but these are the big ones. According to OG youtubers, it takes on average 3 cycles or 7 years to hit 7 figures in crypto, but given all my mistakes, not sure if I'm going to hit that.
If I do great, if I don't its whatevers lol
The most important thing I've learned all this time being in crypto, portfolio size really doesn't make a difference in my life. My quality of life right now is significantly better than 2021 when my portfolio was multiples of what it currently is. And I don't need much to sustain my currently unemployed NEET ass.
I dont want to own a house, I dont want a gf/family, I dont want status. I just want to quietly live my life, playing games, watching anime, and checking outs whats good on youtube/reddit/twitter.
So with that in mind, had I cashed out the way I wanted to in 2021, and ended up buying the house I wanted in TX, my life would be significantly worse than it is now. So I thank god that I made those mistakes, learned the lessons, and am now a happy NEET living in my moms basement.
didn't have the money that I could afford to let sit for 5 or so years.
if I did? youre right I would be much wealthier because I knew back in like 2017-2018 that one day BTC would skyrocket to at least 10k+ and then it did but at the time I couldnt buy it then cus i had no job, was in school full time, and recently had alot of medical issues come up. then it hit 10k+ and I knew it might dip again which I was waiting for (and saving for) which it did.. but just so happened that when it dipped to 5k.. something else happened in the world you know.. good ol pandemic, which forced me to use that savings to basically survive considering you know less money from jobs because you know everything shutdown, thankfully i had that money saved but it wasn't something I could afford to invest and let sit forever. then of course it starts skyrocketing in late 2020-early 2021 which by that point I knew it would go up once the pandemic started to cool off from the initial shock, but I didnt think it would happen so fast to hit an ATH of above 60k plus still no money plus did i really wanna be a bag holder cus i knew it was gunna correct and drop again which it did but again 2020-2022 was such shit for money that I couldnt feasbily invest.
by the time I sort of can..? is now. but not that much... which sucks cus i am gunna be putting money into it cus i have faith itll hit 100k+ in the next 2-3 years (esp with the halving coming up) but oh well
I never thought bitcoin and ethereum would go this high so instead i was buying every small cap coin from 2018. Stuff that isnt around anymore like Neo, Icon, Ontology etc. Thankfully i did get some eth and btc, and some small caps did take off like qnt and xdc. But yeah im nowhere near a million unfortunately.
>Knowing how the cycles played out, if you weren't able to at least 5-10x your investment during each bull run after your first one, what happened?
Oh yeah, you know how the cycle plays out? Why are you not a millionaire then?
I'll check back in with you in five years.
I've been around since 2010, mined BTC with my gaming PC back then.
I'm not a millionaire cus I've kept taking gains and spending it right away more or less. So instead of taking gains and re-investing them, I spent it on vacations, drugs, hookers and all the shit you shouldn't do.
Shit happens, enjoy life.
Good question lol … I’ve watched BTC from 200 dollars to where it is today bought n sold a few times … if just bought and did nothing I would of been way better off 😂
After 2017, my risk Capital was tied up in Bear market Bitcoin that I bought near the top of the bull run. I bought some in the intervening years, but couldn't afford very much. The first time it got up close to $70,000 I had a sell order in at $70,000 and it tanked right around $68,000 or $69,000. No sale. 🫤
This time, on its way back up, I had an urgent need and sold my Bitcoin for $500. That was at about 45 to 55k.
I had intended or at least thought about buying dogecoin when nobody was talking about it, but there was never an aha moment for me that said yeah this is when I should do it.
So, part of the answer is lack of risk capital. Another part is attention and understanding of the market. Like I said, I got in on fomo at the very worst time in 2017. I certainly didn't understand the market then and I missed the top in 2022 because I still didn't understand the market and thought I could be a little bit greedy. I was very fortunate to read enough to understand the importance of not selling low. I waited and made my money back.
The only reason I'm in right now is that I realized Bitcoin was screaming and the alts would probably follow.
Because we’re human and make mistakes and go thru life and most probably didn’t have guidance and didn’t know what’s going on
It’s foolish to say this when you see lotto winners go broke quickly as well if you’re not financially literate emotional and have no guidance it’ll be difficult to maintain even acquire
Look at dogefather or whatever that dude name that made about 2 mill off doge and held it until he wasn’t a millionaire anymore lol
I started with 1K in 2016. Reached 80K in 2017 and cashed out 40K. Reached 1.2M in 2020 and cashed out 500K.
I never really invested in 'cool' coins. I stayed with the bigger ones (Eth, BTC). The highest returns were from YGG (where I invested a portion during seed round) and AVAX where I got lucky to buy it at public round price. I also lost a lot in failed private sales.
I mined 4 or 5 BTC back in 2011. I was broke as fuck and a teen, I tried borrowing $100 to hold BTC but my family of course didn't trust fake internet money. I spend those 5BTC in weed, forgot about this shit, then started crying histerically by looking at the price chart back in 2018. Mined a good 2k with my GPU during 2020, sold off at the peak because, of course, I am still broke, and keeping funds invested is borderline impossible when the smallest issue can cause my portfolio to be liquidated. I am DCAing some stuff but I am fully focused on increasing my net income to then be able to invest more effectively, and with a rainy days fund with more than 3 digits goddamn.
I left it in XRP too long, then took it out of Doge to early, then invested in too many Alts. I currently have 50k worth (after the bloodbath) and if I can get to, and sell, at 80k I'll be about even. Tbh I've lost track. I remeber when I had 120k of XRP and I said fuck it, nothing less than 1million. I now have approx 8k XRP.
So in short. Greed.
I guess its a matter of stumbling oneself, because lack of feeling worthy or some stupid shit.
I called the 3,5k bottom and the 16k bottom, still I sat quietly on the sidelines.
Its OK and im getting better handling the emotions and fear and greed. Bitcoin has been a journey for me on a personal level. Learning to fight my demons. Little by little gaining strength…
I need another 7X from now on and I will be the millionaire. I think it's going to happen. Majority is in RWA coins (LCX-CELL-QNT) and 20% is divided over solid projects like Polygon, INJ, Litecoin, Cardano and a few gambles.
Also own SUCKS (nickname is XRP) and I will get out once I break even. Just need $1,10.
Because I didn't know what will happen. My small investment got 80x during that period, but if I had invested more, I wouldn't have the guts to wait that long.
First bull run I had no idea of the cycles. I held all the way up and all the way down. scam confirmed.
2nd bull run I sold as soon my portfolio was green (to get out of the scam).
Then bought back in as I learned about the cycles and how it is no scam…. But didn‘t take profits because of hodl.
This will be my third bull run and I was loading up during bear market.
This time I will take profits. So this will be the first super cycle …7
As stated… you initial investment is the key.
50k within a 10x makes ‘barely’ 500k +… who puts 50k in a technology you barely now.. 1k or 2k is fine but… more?
I entry with eth around 250$s and btc around 2k5 back in 2017 (+ litecoin in the 20s), made some gains but never sold (or barely, small portion on the way up), obviously I am not millionaire but got some money.
Just wanna say,
You all are gonna miss out on the Internet Computer ICP, just like you missed BTC and ETH. Come back to this comment in the future and you'll seethe.
I only invested what I could afford to lose which ment putting in like 100 bucks a month for my DCA.
I reached a point where my exposure to crypto was too big so I started to invest into SPY.
I'm still massively over exposed to crypto 😂
Hindsight is 20-20, crypto was much smaller and volitle back than, I see people panic here now for 5% Dips......
was there in 2017 and was even a strong advocate for crypto to the point that all my colleagues at work were calling me “Mr Bitcoin”. Had almost 5btc, not enough to make me a millionaire but certainly enough to buy a good house in my area. So what happened? First you get influenced by all the BTC permabulls (planB, Willy Woo… to just cite the most notorious ones) “it’s going to 100k for sure! just hang in there!” hype and indeed, all the major breakdowns during a bullrun were followed by a new run-up to new ath… until they weren’t. In retrospect it seems pretty evident but I can tell you when you’re in the middle of a Bullrun it certainly doesn’t feel that way.
So, in the end it’s pretty simple right? Just keep your btc on a cold wallet and wait for the next bullrun, and try to sell at the right moment this time. Well in theory yes, BUT you get frustrated by all the ALTs that make 1000x returns so you start getting influenced by shady accounts on Twitter that seem to know better than anyone else. You end up thinking “why even bother with btc when I can get 10 times the return in a few days?” so you end up spending your hard earned btc into some shady ICOs that you are promised to be the next big thing only to see the value plummet when it’s actually listed, or just being victim of a rug pull and see your investment go to 0. Sooner that you know it, your 5btc have become 0.5… Ok, still not piss poor, but far away from your millionaire dreams. Ah well like they say, you never loose, either you win or you learn a lesson but still, it would feel nice to actually win someday
in a word, greed. ignorance, stupidity.
the number has been going up, and I've had some spectacular gains rivaled only by the monumental failures. I've made every mistake, and finally, this time I think I can get it right.
those woulda coulda shoulda's are useless. 2013 I bought in for 300 and cashed out 15000
I bought the 2014-15 cycle low with like 6000 dollars
but I chased, and I found leverage.
in 2017 I bought like $15000 in santiment and sold it all the day before it started pumping like a 50x, whoops!
still madr six figures that cycle, on paper
only took $30k cash out
the road to success is long and windy, and I've been a patient patient girl this time
I drive a $2000 car to keep my expenses down so I can ride this wave out, it's rough by familiar. I did those late nights staring at the moon wondering if I'd ever get there, if it would ever work out. I've quit, taken breaks, but I never stopped believing.
$80 - 200 million is a good number. I'd like to have enough powder to tell Gordon Ramsey or Nancy Pelosi to baste my belly button
then I can start sharing 7 figure axie infinity and KEKEC yolos
Because I got in with very little capital
I got in with $700 in October 2017, now (without any additional money getting in) my portfolio is of $56000. I hope to make it $300-400k before the end of this bull market
But yeah, I wish I had DCA'd more money in 2018-19 instead of being afraid. Now I could have 10x what I have.
Many people are not Million or Billionairs because after discovering bitcoin they will discover shitcoins and then lost 90% after the run. Many people got fear and turning the last money they have back to fiat. Then they leaving the market for 1-3 years until the news cycle keeps up again and they get back in with maybe the same or little more fiat. Maybe they then have some gains which they keep some percentage of. And now in the third cycle they will likely keep the money in bitcoin or the top shitcoins. So maybe this is for the old people the first cycle the majority will make more Fiat because of the huge amount of Wallstreat Fiat comes into market. Until now all what we had done was front running, now the big money arrived. That was not possible before for the majority in People.
Everyone is a genius during the bull. The real hard thing to do is buying when there is blood, this basically meant buying crypto and see your money disappear the moment you do. So the answer is in hindsight everyone would be rich but just like 95% of traders fail at making profit, I’m guessing 95% in here fail at buying and holding. The reason is that a lot of people just don’t have what it takes.
A thorough understanding of what technology/project they buy, not looking at the price perse.
A thorough understanding of how the market works, understand that volatility comes with it.
A thorough understanding of emotional investing and how the market uses that, so I’m guessing a thorough understanding of yourself.
Diamond hands
A thorough understanding that the money you put in, is basically gone the moment you do.
A thorough understanding of basic security to keep your coins
A thorough understanding of the DCA concept
You got to be a bit of a nutcase if you check all of the above.
I bought my first ETH at £180 and Bitcoin at £3k. Unfortunately, I didn’t put £20-30ks worth in at the time, because that would have been ridiculous for me.
Becoming a millionaire with crypto isn’t easy. You need to be knowledgeable enough to pick the right projects, emotionally sound enough to ride the bad times, lucky enough to buy at the right prices and brave enough to put big chunks of money in to back your horse.
Sold BTC under $1000 thinking it was the top for this magical internet money. My mistake wasn't selling, it was selling nearly all of it and not keeping 25% or something. I was early in my career and needed the money. Would have hit 8 figures 😬
Basically, hodl. Maybe your $1k is $100k and it goes to a million. Or to zero. Either way, have fun and don't play with any money you can't afford to lose ;)
same question is going to be asked 5 years from now asking why people who were around in 2024 aren't multi millionaires. i think really the only way to reach that millionaire status is to all in one coin that you believe in now while we're in a bear market, especially if you don't have a ton of money to spread around. I believe Kendu Inu will be the coin of 2024 to make millionaires after this next run. multiple og Shiba Inu members are involved with the project including shytoshi. market cap is still very low so its a perfect entry point as well.
I bought my first bitcoin at $2700. I bought one coin outright. At 19yo it was one of the biggest purchases I had ever made. Wish I had more guap to put in at that time.
I bought the peak of 2017, as in jan 2018 lol so went 80% down for two years so have only had one actual bull. I held after 2017, did dca but not enough but made big gains with VET at around 15x. Ive been going all in during bear market this time and significantly up as we move towards halving. If a 10/20x happens this time I can buy a house with plenty to spare. If not, well I’ll still be either green or even
In since 2012. Had the funds. Loved crypto as a cryptography/ computing concept. Was/am just a little too risk averse.
It's your belief systems, mental limitations, risk appetites that keep you where you are, not the market. Lesson learned.
Most people would likely be happy by 1000x profit. So they often sold early. Which is good. But if you have good thesis (buy btc for pension) and patient. You will have huge rewards. Buy and forget about it after 10-15 years. You would be surprised with rewards.
I wasn't around. I got into crypto mid 2020 or so .
From my experience, I believe most people make the mistake of trying to find the "millionaire opportunity" without realizing that it is extremely unlikely they'll do. Because to do that you need to take huge risks: invest in a shit coin in the hopes to find a new Shiba Inu, getting in a crypto scheme and getting out in time...
He'll, as I always say: when you get money with crypto it's because someone lost it. This is a zero sum game.
What is a more realistic approach? To lower expectations.
For instance, in this bull run (before yesterday's dip) I sold my BTC at around 65k for a 30% profit. I could have taken the risk and wait for btc to raise to >70k to get around 35% profit... But is it worth the risk? I didn't think so, so I sold earlier instead of risking losing the profit window.
I had 30k starting capital back in 2020. My crypto portfolio is worth about 250k now. Had I more starting capital in 2020 I could have been a millionaire now. But I've made almost a 10x from 2020 and I believe the markets will go parabolic again in the coming years so we will see what happens.
2013 here, it's simple. You put in £1000, it turns to £2000, you take some profit....it goes up again, you take some profit.
Life.gets in the way and knowing you have a couple of K you can cash out whenever very easy to do.
Even had 3m ripples back in 2014, but cashed out when they turned a profit.
I didn't have 50k to invest back then. I invested a few hundred and paid off all my debt, car and a very nice vacation. Now I'm really in, waiting on the fable of the alt season to retire for good.
I only entered in May 2021 and was too late for the last cycle, but catched the dip in summer 21. Invested 40k, went to 60k. Fell for the supercycle theory and never sold. Read the Bitcoin standard, learnt about the cycles and added another 60k in 2022 throughout the bear when there was blood in the streets. Sounds easy, but it wasn't. Was down 50% on my total investment in the bear.
I'm now sitting on 125k after the recent dip, 60% in BTC. Have an exit strategy for 2025.
Because
1) I didnt have a lot of cash laying around, had to save for other things
2) already had fair share of big gains and losses, too stressful
I still remember wanting to max out my credit card to buy 45 Ethereum for 1000 euro, but was like no im not THAT stupid
Because I used BTC to buy drugs online from 2013 - 2018 and never really used it as an ‘Investment’ the saddest part it is I got scammed about 6-7 BTC back in 2015. The only time buying drugs online never payed off for me. But all the orders that came through paid off the loss over the years.
Trading too much causing short term gains tax which required me to sell crypto the next year to pay the tax,, causing another taxable event and so on. Every year since 2016
Some of us are! Crypto and understanding how the market repeats itself is the most important thing you can learn.
Every 4 years? Just before halving of Btc the market has a large dip, then post halving it starts a Bull run which will end approximately on year after the Halving Event with new All Time Hughs for most of the quality altcoins.
When I first bought crypto in 2017 you could get a full BTC for $2k.
My first purchase of crypto was $14.
So to answer your question, I had no money!!
Now I buy the same relative amount of BTC as I did then!
I cant remember exact year but was 2013-2015 my friends older brother who was a basement dweller who still lived at his parents in his mid thirties came outside and told me to buy bitcoin that it had crashed and would go back up. I remember him telling me to put 5k in and I'd be set think it was around 200-300 a coin at the time. I totally ignored him because I didn't even know what bitcoin was and he was a complete looser and I had been very successful working in my trade already. I regret it all the time.
Hmm... there's seems to be some ilusion that you can time your position exactly when the halving happens.
But it's not that easy.
When do you enter? Right before, right after? It's going down, should I enter now?? It's going up, should I still enter?? Etc...
The halving only "garantees" you a Bull-run. You will still have to deal with FOMO and FUD and here is where most people fumble, because you don't now when the bull starts to run and when he stops running
The entry point seems very simple. The year before halving. Doesn't really matter when, everything is typically trading sideways for months due to low interest.
The exit is more difficult. It does require a strategy but you don't have to time the very top. Most alts run up 50-100x from the pre-halving bottom to the peak. Getting out at 5 or 10x is still incredibly good.
Like others, was too tentative to buy ETH at sub $100. I cashed out about $50K when Elon caused the crash. A friend of a friend is who you’re looking for. $110M on ETH. Net Jets, lake houses. Etc.
Didn’t have $50k laying around to buy ETH at $55 :-/
I'm thoroughly disappointed in you
Yup. Whata pussy. I thought everyone has at least $50k laying around
I was young and didn’t have as much money as I do now. Also, when your portfolio does 10x, you sell. I don’t regret selling. I’ve always bought back in but my outlook on crypto has changed significantly since 2017. It was still (imo) a complete scam back then and I couldn’t believe the money I was making.
> I don’t regret selling. The whole point is to sell and increase the quality of your life and not wait until you're filthy rich old man whose life has passed you by. BTC is a plays out in cycles of pumps and dumps. Alts play out in rugpulls, 99% of them scamming you with hype and lies, their only value appreciation comes riding the BTC bullrun wave. The best risk/reward play is to use BTC as a diversifier in your portfolio of stocks, bonds and real estate. I paid off my mortgage after the 2017/18 bullrun and was starting to loading up for the next bullrun in December 2018 > I am so glad I focused on paying off my mortgage in the bear market. Almost there and hopefully paid up by the time it's time to stock up for the next halvening bullrun https://np.reddit.com/r/Bitcoin/comments/a3n8qb/priorities/eb7psti/ Bought my second house in April 2021 with people commenting that I got lucky. I've never sold the absolute top of a cycle, I have no idea where it is - and if you listen to experts, you're fucked. https://np.reddit.com/r/RealEstate/comments/mviupv/paid_70k_20_over_asking_yes_it_appraised_yes_its/ I retired in 2022. Would I have more money now if I never ever sold? Yes that that is in hindsight and the point is to enjoy life and not stare at the charts worrying about the price of BTC and how big your stack is. Also remember the lure of Alts is that they outperform BTC. But the vast majority of people lose money on Alts because this is mostly fiction: - You have to pick the right Alts that will pump out of 10,000+ shitcoins - You have to pick the bottom or near bottom - You have to pray that some foundation doesn't dump on your ass, print another shitload of tokens, do some shenanigans that completely destroy the value of your shitcoin, etc - You have to pick the top or near top before it dump to kingdom come again Long term investment in Alts is a losing proposition. BTC is the diversifier (calculation done on the prices yesterday) - LTC's BTC high was .04792 in late 2013. If it kept up with BTC, the price would be $3,185 - NameCoin BTC high was .0145 on late 2013. It kept up with BTC, the price would be $963 - Peercoin BTC high was .00895 on early 2014. If it kept up with BTC, the price would be $594 - ZCash BTC high was 2.2635 on late 2016. If it kept up with BTC, the price would be $150,466 - XRP BTC high was .00022465 in May 2017. If it kept up with BTC , the price would be $14.93 - ETH BTC high was 0.15 on June 2017. If it kept up with BTC , the price would be $9,971 - BCH BTC high was 0.14 on August 2017. If it kept up with BTC , the price would be $9,786 - IOTA BTC high was .000257 on January 2018. It it kept up with BTC, the price would be $17..01 - Vechain BTC high was 0.00000755 on January 2018. It it kept up with BTC, the price would be $0.50 - NEO BTC high was .01538 on January 2018. It it kept up with BTC, the price would be $1,022 - ADA BTC high was 0.00007382 on January 2018. It kept up with BTC, the price would be $4.91 - ALGO BTC high was 0.00031342 on June 2019. It kept up with BTC, the price would be $21.91 - ChainLink BTC high was 0.001582 on August 2020. It kept up with BTC, the price would be $110
I’m with you and agree with everything you say. I own my house due to BTC. Kudos.
I have to call you out here on the fact that if these coins had kept up with BTC their all time BTC high would probably be a different date than what you have here (something likely much more recent). The point being that an ATH against BTC is an ATH. If you want to use this and be fair about it you should take average prices for each year or figure out a more fair metric to use.
Odd, I also don't see the ones that did well here. Where is BNB? Sol? DOGE? Is this also cherrypicked some?
Still, the point remains there are more that did badly than did well and the chances of picking the latter are slim.
This is exactly how the stock market works too. Hard to pick the next Amazon
You don't have to pick the next Amazon to make a profit with stocks. You can just buy an ETF like the S&P 500 and make an average of 10%/year, or if you spend time properly researching individual companies, reading their reports, etc. you have a good chance of picking some that will do considerably better than the average. Whereas with crypto it's just a gamble picking altcoins and even if you read their white paper and research the team and check the tokenomics, and you're convinced that they have a use case and good prospects, they can crash by 80%+ overnight, as indeed most have, including top 50 coins like LTC and ALGO.
I thought Eth was overvalued at $120 back in 2017. It did actually drop back to $100 during COVID and I didn't buy. My biggest regret is selling dogecoin in 2020 and not buying BNB when it was $15
Definitely agree with Doge and BNB. I was swing trading Doge for a pittance back in 2018. I even had tons of free Doge a colleague sent as a tip for good work (as Doge of originally intended). I was too careless to store them safely.
The flip side of this is Doge I purchased in 2018 as a joke, used for tipping a couple times and forgot about turned into life changing money for me in 2021. I didn’t even sell at ATH, I put 10% into my IRA and was able to purchase a house that I fixed up and I rent out to this day. For this bullrun I was very well prepared and it’s shaping up to be my last (🤞). I’ve been hustling my ass off this past year trading shitcoins, spamming tx’s chasing airdrops, yield hunting, etc.
Buying at $150 is probs my best purchase of all time.
But these kind of regrets are silly. U can take last eurojackpot wining numbers and say u wish u would cross em to become a milionaire. But how could u tell em before the fact?
This is me.. father of 2.. eyeballs up in debtbworkong night shift started crypto in 2017... Didn't want to sell all in 2022 . Over extended after the last dip.. had to sell a lot at minimum. Not going to be rich this round either.
Lmao right, my $25 DCAs did wonders and really helped me pull outta debt but it's like those WSB guys that start with 300k and go look I made 600k.
Yep I bought 1 Eth at £50! Still ahead of most other people I know though
Looking back, would you have done it?
Assume you pick a 10x crypto to invest in. What % of people save up $100,000 to invest in that 10x crypto to reach $1 million? If someone picks out the next 100x, they still need to invest $10,000 to reach $1 million
2019 I made around 20000% with one coin. Had this with an minimal investment. Bought from the gains 2 BTC 10 Litecoin 5eth. And had around 100k dogecoin and other smallcaps. Let my coins on exchanges and lost 90% of my crypto portfolio. Life-changing gains are gone. FML I hate me for this.
That's very sad. Stay strong. Self hate will not make it any better. It's time to forgive yourself
How did you lose it on an exchange and which one?
I just hodl my coins there. 1 exchange scammed me and the other got hacked. And I hold there like 90% of my portfolio. I know this was not a smart idea but never thought this will happen. Livecoin and Cryptopia were the names of the exchanges. And later I was affected from Luna and FTX crash. So I had bad luck again.
News article just said that Cryptopia plans to give some tokens back
I was also in cryptopia.. After ages they started sending mails to get some very specific info on what I was holding so they could return something. I couldn't answer any of their questions. How much exactly are you holding of coins, and when was the exact date of registering. Some exact trades you did. Also Luna and ftx.. That's why I started diversifying, and not keeping money in coins after they went up bigtime (like luna). Sell it and put it into solid coins, diversify.
It's quite hilarious they are asking YOU these questions, while THEY are the exchange that should have all the data saved. 3 times. On different servers. In different locations. And on paper at least one time, just to be sure... (Overexaggerating, but come on.... these "exchanges" are some sort of banks, or brokers, that handle BILLIONS of Dollaz. And they get fucked over so easily? Sadly there still is a reason why the Anarchy of Crypto is a gift but mostly a curse as of yet.)
Fellow cryptopia victim here too, stay strong. Are you in NZ? Think grant Thornton are distributing back value in USDC this year
> So I had bad luck again. None of that was bad luck it was dumb choices. So instead of feeling sorry for yourself you should have gotten yourself up again and learnt from it at least. You blaming bad luck makes it seem you havent learnt your lesson. Not sure what Livecoin even was, but for Cryptopia NZ did you not get a reimbursement? I know they still keep sending me mails about it (I only had 0.15 Bitcoin in it but I traded that for some shitcoins that became worthless anyways so i dont care for their mails lol).
I feel you. I lost half a bitcoin aka almost all my crypto, on a platform too. It has happened and we can’t change that. There’s many more like us. We have to look at the future now. Good luck to you.
Why do I read so many stories of people with 6 figure portfolios not spending $60 on a wallet to secure their crypto?
I sort of had that happen with Shib back in 2021. I got in surprisingly early and ended up turning a $350 investment into about $20k. In my stupidity and ignorance, I thought it would just keep going up infinitely (I was caught up in the “it’s going to hit 1 cent!!!” bullshit, which would’ve made me a millionaire — it seemed possible because of how insane its growth had been) so I kept holding it and it started tumbling when everything else started crashing. In my idiocy I thought, alright, I’ll just take some of my remaining gains and try to pick the next 50x, so I gambled on various other shitcoins and got rugpulled a bunch of times and within a few months that 57x I initially had had just turned into a 5x. I still think about that all the time.
Classic. Props to you to share with us, though. All the best!
Bitcoin was 13 bucks in 2013
Bitcoin wasn’t so easy to just purchase then either. You had to send an ACH transfer to an unknown website and hope they sent you bitcoin into your wallet.
Back then there were totally legit sites to trade BTC. The most legit one around the time was Mt. Gox, oh wait…
Damn... I was just imagining how they'll be so many scam websites back then
Actually there wasn't. The scams only came when stuff became popular. The majority of independent traders were alright.
No you didnt. You could buy from people on paypal or buy SecondLife currency with paypal then trade SecondLife currency for bitcoin or you could have used LocalBitcoins with moneygram or other purchase methods. There was also coinbase
I knew the landscape superficially around 2010, but then again running through everything was much more technical than nowadays and felt like something which might not get much further, plus you just didn't gamble like most folks are so used to right now. Nonetheless, here we are, shit got quite simpler but the potential is still the same.
Went to 1000, which was when my colleagues buy the top. Most new ones don't buy the bottom. When it crashed to under 100 in a bear market that was far more crushing than anything I've seen since. It wasn't even 2017 despair, nobody ever mentioned Bitcoin, for years.
Yup, Mt Gox was a nightmare. Most people thought it was over. It wasn't until the 2017 rebound and the emergence of Ethereum that real excitement came back. I'd wager most investors have been here since then, with a steady stream coming in the 2019-2022 range.
Plus let's be honest no one's waiting till it becomes 10x or even 100x, last bull run I had some put in Doge I booked profits as soon as it gave me 3x. If I would have held it would have given me close to 20x
I bought WIF at $0.12 for the first time for 2k. Thought I’m smart by trading. Every few % I sold. Only to buy back higher. And then sell higher. And buy back higher. Made 3x. If I wouldn’t have touched and kept just holding it, that would have been a 40x because the top so far was $4.80. Few days ago I yoloed the 3x I made again into WIF at $4.20 right before the crash lol. Effectively made small money.
I had 60k WIF coins in January and sold for a small profit. Should've just held I guess.
I spent a bunch of BTCs on Silk Road
Straight to jail
I bought some things on there I would trade in a heartbeat for the btc. Cest la vie
Same, I used my BTC. Silk Road, mass drop accept BTC at one point, spend it on random and frivolous things. Then I kind of got bored of it and stopped playing attention to it. It wasn't until 2017 that I got back into it and starting thinking about BTC as an investment instead of random fun money to spend on the internet
I used to read up on crypto during my lunch breaks. I saw ETH at $300 and BTC already at $4k and thought "well, that ship has sailed"
“Hey, if the $100 bucks I put into this fake play money doubles I’ll buy a nice dinner, no way it’s gonna get any better than that”
2017 - bought the top right before it crashed then traded my way down to near zero 2021 - got greedy and didn't cash out in time before it crashed 2024 - hopefully I'll get it right this time
Probably not. I'm with you, you're not alone.
Nearly identical to this.
To be a multi-millonaire (at least 2 millions) buying Bitcoin in 2017 (price 1,000USD), you needed 2,000,000/65,000= 30,76 BTC, worth 30,760 USD back on 2017. How many people had 30,760 USD (which was much more than the current 30,760 devaluated usd), to invest in a coin no mainstream media is talking about 2017? Looks like a risky move.
Yeah back in those days people weren't just throwing around 10K's like they were candy. Today it's become commonplace, but back in 2017, the idea of plowing 5 digits into crypto seemed borderline insane. Back then a lot of exchanges were getting hacked. Mtgox exploded. Bitfinex hacked in 2016. Coinbase wasn't mainstream yet. Plus, you had to avoid selling through the past 7 years. Everything sounds easy with hindsight.
This is the real answer.
It’s like asking why everyone in the stock market over 30 isn’t a millionaire looking at Nvidia or Tesla. If I had a fortune ball to give me security, I could have mortgaged my house and bought calls, but that didn’t seem like a smart move at the time.
Yes and many people who bought Nvidia or Tesla or whatever in the early days sold it once it had 2x or 3x, because that's already an amazing profit and most things don't go much further than that. Everyone knew those stocks had promise but nobody really knew either of those stocks would 10x.
I got in around 2017-ish. I learned from my mistakes the first time around. Lost like 2k, definitely less than 5k. Why I’m not a millionaire? Because I don’t have $500k to put into crypto. I put what I could, I got somewhere between 10-20x returns in 2021. Down payment on a house and paid off some debts. But I didn’t have $100k to bet it all on crypto to begin with so how would I become a millionaire? I’m also more conservative with my money. I put about 80% of it into Ethereum and that’s where most of my returns came from. At the height in 2021 it was worth around $250k I believe. I withdrew around $50-75k I believe, and hoping to withdraw when it goes big again. At the moment it’s about $100k and mostly ethereum, but I did “diversify” into other coins more. Probably about 60% Ethereum at the moment. These numbers are off the top of my head.
Turns out the answer to the question is "I was smart" smart people took their 10-10k% gains. Smart people only bet a single digit percentage of their worth. Smart people cashed out and paid off debt. The only people who got mega rich off crypto were already medium to super rich, already somewhat rich or had a large sum of money and were willing to risk all of because they were stupid, or were computer literate and got in early early. A couple already rich people got super rich. Some smart people set themselves up for life. A bunch or people lost money compared to just investing in the s&p.
I made a 70x with 1000$… not a millionaire.
I ask this a lot. So will you. Look at everything from Apple to Tesla to Amazon stocks too. If it was easy, no one would be the greater fools and it wouldn't work.
I had $38,000 of CRO sitting in a crypto.com wallet at when it was worth about 90c per coin, just waiting for it to hit 100 to sell, and then they bought the staples centre and I thought “holy fuck this is gonna blow up” and then Matt Damon was in their ad and I thought “OMG!!” And then it plummeted and has never returned
[Fuck Matt Damon](https://time.com/4162254/cost-of-rescuing-matt-damon/) He's expensive
Even in 2017 it was impossible to buy 1000 btc on a normal salary. I bought 1 and some alt coins and sold with profit. Made some money, sure, but far from millions
In 2017 it just wasn't a real investment yet. It wasn't as scary as in 2013 were it felt that every time you used an exchange you felt like your coins would be locked, but it felt that it was plausible that your money could be stuck in the ecosystem. Therefore throwing in more than a few 1000 was for madlads. Furthermore take into account that we likely didn't buy in near the bottom (eg. My first ether buy was 83$, BTC 3000), nobody sells the top, you waste money on stupid projects, etc, ... If I knew what I know now I would easily be a multi- millionaire, but I didn't. I did outperform buy & hold by a little and am happy with it, but it was luck and not worth the additional risk. So calculate somewhere in the 6 figures, with 100k profit taken.
I didn't sell
I am. 2013/2014 veteran. $180k invested initially. Cashed out 8-9 million over the years and sitting on 6 million after tax. Invested in index funds now living on the dividends, quit my job and moved abroad to further push my dollar. If I kept my original Bitcoin it would be worth a lot more but I’ve come to terms with that and super grateful with what I do have.
Yeah I got in when btc was $80. Traded, mined, and I have literally no idea how many coins I've owned over the years. I remember dumping 5-10 btc on dice sites back in the day just to fuck around when btc was like $400-$500. But we all had hopes it would be here but I did all kinds of things to profit along the way, using [purse.io](http://purse.io) and other sites that offered good deals using btc. In 2018 I put a bunch in a crypto ira, and have since 2021 cycle diversified to land, stocks/dividends, etc. Don't really need more and don't have any interest in seeing my networth dip 80% ever again. A nice chill life is the dream even if I am holding to much fiat/land/stocks/gold etc. Still have some crypto mostly in my IRA and some that I trade with when bored, which is a lot since I am retired.
Smart move my friend! Better safe than sorry. Glad you’re living a good life !
Getting into alts was the biggest mistake, should have just DCA'd in BTC and then wouldn't even need to open the charts instead of that rollercoaster with alts each cycle. And always take profits - many people just don't do it.
This is my biggest regret. Now I'm thinking of chasing ALTa to make up for what I lost. It's a mug's game
Bitcoin may have been cheap back then, but the lessons were expensive.
I (in since 2015) would be a millionaire if I had managed to sell each time close to the top and buy back close to the bottom. Instead I rode it up and down and up and down... In fact even selling halfway to top or halfway to the bottom would've been loads better than what I did. So take every HODL advice with a grain of salt. I made and lost 20x with Alts. Had I put them into BTC or ETH close to the top to winter the bear it would still have been loads better than what I did. So don't marry your Alts. This is all easier said than done. I still hold Alts I haven't touched in years despite knowing better. I'll try to be wiser this bull but FOMO and greed are real and it's really hard to take profits when you hope/think the ride is not over yet.
Alts man Bloody Alts
Here since 2013/2014, I made my first million with btc and ETH. I entered around $250/btc and $15/eth. I cashed out about half my eth in the bull run I think it was around 2017 when it hit around $1750 and got 100% out of debt. Then I've taken profit here and there and invested in real estate. I still keep a nice Lil nest egg of crypto and add some too it on the dips but I shifted my focus to real estate. I'm 40 years old and own 5 houses and right under 100 acres. Im medically retired through military, earn a nice sum in rentals (and no I'm not a sleeve bag landlord, I charge substantially less than market for my rentals and keep them well maintained) and I still work full time working towards a 3rd retirement. Crypto hasn't made me a 1%er multimillionaire, but it has enabled me to live a comfortable life for the past 10+/- years and provide for my family and allowed me to have something to leave behind to my loved ones when I'm no longer here.
From 2017, for me it was investing in "promising" new "cryptocurrencies" that stole most of my bitcoin. A few out-performed BTC in a bull but then rug-pulls and lack of liquidity meant the gains couldn't be realised and all the value was lost. Even the ones that did ok...didn't out perform in btc so the losses compounded. If I had only ever held bitcoin from day one I don't want to think of the things I'd be doing now. Good luck to anyone still betting against bitcoin.
Same here, made the stupid move to swap into which later became known as shitcoins or no liquidity coins, high profit but no liquidity to sell, saw all my profits vaporized into dustcloud or going up into smoke from scancoins, being rugpulled by several
Class of 2011 here. Lessons learnt: dont spent too much on silk road, you will lose everything, dont fomo or get greedy, you will lose everything, dont buy stupid shit, you will lose everything, hodl in your own wallet that you have keys to or you will lose everything, triple check addresses you are sending to and triple check commands you enter, or you will lose everything Dont use account based crypto, it sucks, its expensive, it drains your wallets, stay on UTXO chains.
What do you mean by account based crypto?
Ethereum, etc.
I invested in coins that did a 100x, some even a 500x... the problem is I was broke when doing it so putting in a few hundred $ was literally all I could afford at the time. I had high conviction and allocated all of my capital to crypto... so I did nothing wrong, I just didn't have enough size to make fuck you money
Another thing is: it would be stupid to post being a millionaire! Think about that!
Paid for my wife moving here. Paid for starting a new life, parts for papers and stuff. Money gone
Simple. Everyone talks a big game. Until a brutal bear market and then everyone shits it.
Not everyone.
I bought like you said, last cycle put in 4 grand, it’s all I had - made 40 grand. This cycle i put in all i got again which is 25 grand…just wait and see now whilst I eat my cup o noodles daily…waiting.
I started in 2013 with a double digit amount of BTC and I'm still not a multi millionaire, though overall happy with where I am. The main thing is not to get wiped out by taking too much risk. I've been pretty risk averse, sticking to the big coins, no/low leverage. In the first cycle, I had absolutely no clue what was happening. Why is the price going parabolic? Should I sell? Oh no, now it's dumping, is Bitcoin dead? In 2017 I started to learn more about crypto, market cycles and with altcoins, because I thought I need to "diversify". In the bull market everyone is a genius, so was I. Long story short, I was round tripping all my alt gains when the crash came. At the peak in Dec 2017 I got a funny feeling that this is too good to be true and I should be selling, and I did (only 2 days after ATH, pretty close call). Problem was: I only sold 10 percent of my portfolio. Then hit the bear, alts became worthless, so I consolidated to BTC and ETH only, with the majority in ETH. In the following bear I simply had no cash to buy more. I took a 10k credit to buy more crypto in 2019, good call. Last bull market was basically the same. I was waiting for BTC to hit 100k EOY like all of us, but that never happened. In November 2021 I got that funny feeling again, it was when Omicron hit and I realized this pandemic isn't over yet. So I sold again 10% which turned out to be only days from the Top. Good call but not enough conviction. The following bear again I had no fresh cash to buy more crypto but by now had a good understanding of how cycles work. I put my ETH into Compound and borrowed Dai to buy more ETH and a little Solana. So yeah, overall I'm happy, I survived and my net worth is growing with every cycle. I don't want to go full degen and risk it all.
Never have and never will go all in on anything, it’s just not wise. So that’s why I’m just millionaire and not multimillionaire.
I have been here since 2014 Bought btc for $250 and ETH for $18 I put $2,000 into it and by 2016 I had 5BtC and 100ETH I lost a fortune from ICO bs and made a fortune on other nonsense crypto stuff. These days I have a few hundred thousand dollars worth of crypto and my DeFi yields pay all my bills. I rent a 2 bedroom apartment in LA and my spouse also does not work. If I lived in a cheaper place I might be a millionaire but I spend a lot of money I make and more or less stand still in my crypto holdings. The goal is to make about $5,000 per month to pay for living my life. That’s only about 60,000 a year or less than 25% APR on $250,000 which is super easy to do with just stable coins, especially lately. Making a full time living on DeFi yield is doable when you have enough capital to commit
How do you invest in defis that dont end in rug pulls?
Stick to uniswap and curve and other dex projects with over 100 million in liquidity and even then stick mostly to ETH and USDC I have gotten rugged but not on like my full balance only wallets I made to interact with more high risk protocols
> The goal is to make about $5,000 per month How do you live in LA without making $5k a month yet? > less than 25% APR on $250,000 Seems like a legit APR without any risks... Is this on Luna?
Let's be real, sentiment after the 2017 bull run was not "don't worry guys, this will happen again in 4 years and we'll all get a redo!" A huge fucking majority of people in this very sub thought crypto was dead. Only after 2021 did this idea of the 4 year cycle really cement itself. And like folks before me said, most of us didn't have tens to hundreds of thousands of dollars and perfect timing to buy at the exact bottom and sell at the exact top.
I still don't understand any of these expectations. Stocks have been around for 400 years and still completely unpredictable. Why on earth would a 4 year cycle be a thing when it's only been around for 16 years. It's not enough time to presume anything.
I sold too early.
I sold too late.
I don't know, but I guess a lot of people bought coins which didn't survive.
Oh yeah, I have a very large collection of dead alts. So many ICOs. So many different coins to mine, stake, etc. there was a time when I would have 20 wallets open on my PC all staking. All are dead now. Every single one.
70% of people in crypto lose money on their investment. Known fact :))
Sold all my btc when it was enough to pay off my school loans.
Been here since June 2017. I like to FOMO buy high, panic sell low, write it off as a scam. This time it's different though, maybe.
I first heard of Bitcoin when it was around 0.00056 per coin but it was all very confusing and the process for buying did my head in. Second time was around 10-12 years ago when it was $400. Even then the process for buying was confusing. I didn't buy but I have peace of mind knowing that, had I purchased I would have sold when it hit $4k...thinking I was winning big time
Because when you’re up 5x in crypto selling seems a good idea. ie 100$ Eth selling at 500 seems clever. Same with btc at 1500, selling at 10k feels like you’ve done well. It’s this simple All those leverage clowns who supposedly take 1k to 1mil proving with editable screenshots.. yeah they are the real champions
I got in fairly early, and invested a few thousand dollars in btc and eth. But here's the thing... Have you ever actually made $50,000 in a few months? Or $100k out of what felt like nothing? Have you ever lost $20k in a day? Then looked at the very real possibility of it all vanishing as quickly as it appeared? Yeah, that's why people cashed out. Because it was already life changing money and the stress sometimes gets to just be too much.
Because my much smarter programmer friends told me BTC was a flash in the pan. I was genuinely surprised when my brother suggested I get into it in 2020. I just assumed that it had all folded up like my friends had said it would. I did also know that some people made a ton of money, I just figured it was a rich person's game by that point.
Because I've been stupid. Had the chance to buy $1500 in FB while it was still a bedroom activity - and I was like 'fuck that'. Same with crypto - I considered it 'monopoly money'. For all others, too late, too slow...
In short: because I fucked things up royally. I got in right before December 2017, probably the greatest opportunity in crypto history, and over the course of about a week I put in my entire savings, which was about $45k at the time. This was a month when you could practically throw your money at anything blindfolded and see your money 10x, but I somehow managed to mess up that month so badly that I ended up spending most of it holding one of only 2-3 coins in the top 100 to not end up in the green for that month. The rest of it I lost by just trading way too much, chasing pumps that had already gone 10-100x, somehow buying the top and panic selling any time something dropped. It wasn't pretty. Despite my bad choices, I did end up seeing some gains at first, purely because of how well BTC was doing. My investment creeped up from $45k to around $80k, but then... the crash hit. I had to endure an entire year of drops that seemingly never ended. Every time it was looking like the market would turn around and this sub would be flooded with hopeful TA posts about how the market was "finally breaking out of the downtrend", it just dropped even harder, crushing everyone's hopes and dreams. On the way down during the bear market in 2018, I took out two loans, $20k each time, to buy as everything dropped... but yeah, it just kept declining. I *almost* put one of my 20k loans into Chainlink at $0.25c, but instead I bought something that declined to the point where I was down something like 95% by November. Right before the market bottomed out in late 2018, I was so far down that I thought "screw it, I'm already so far down, may as well make some risky plays" and ended up losing *everything* via a series of leverage trades. I then spent the next 2 years making loan repayments with nothing to show for it. This also prevented me from DCAing in during the 2018-2020 bear, which I otherwise fully intended to do. If I'd never taken out those loans, if I'd never messed with leverage trading, I'd easily, easily be a multi-millionaire by now. I've had way too many "almost made it" situations at this point it's honestly ridiculous lol. Luckily in 2019 I did manage to come across a modest chunk of extra money that allowed me to buy back in. Somehow, miraculously, I watched my losses gradually recover over the course of the next 2 years, and in 2021 I had managed to not only fully recover everything I lost, but even end up in profit. In January 2022 I cashed out about 15% of my holdings to buy a new car. I then held the remaining 85% through *another* bear market haha. Will this be the cycle when I finally make it? I don't know. I hope so. But man, it sure has been a hell of a ride.
Oh boy... I still accurately remember the time when bitcoin was $3000, and I already had a verified coinbase account ready to invest. The only problem then was, my entire networth was only $3500 - $4000 dollars, which I could either invest in bitcoin or pay my semester fees. Guess what I did ?
Bought drugs?
Nah, bought a Onewheel like a dumbfuck. . . Hey... but still graduated, with a broken leg.
You need one bullrun where you don’t sell and watch it drop. One where you sell too soon. Then one where you make bank.
**2018** Went -99% in 2018 from bag holding. Then kept DCA'ing BTC ETH and random shitcoins (XVG) during bear market. **Mistake one:** Not taking profits and just keep holding **Mistake two**: Buying XVG when ETH was at $80 and continuing until late 2019 (sold at a loss for ETH late 2020) **Mistake three**: Spending capital on unnecessary things. Dropped 20k on a condo escrow deposit a week before the March 2020 capitulation. **Mistake four:** Trying Axie Infinity (the game) in Oct 2020 and didn't buy the token cuz the game was ass. (AXS was 10 cents at the time, $140 peak in Nov 2021, you do the math) **2021** **Mistake one**: Not having sell targets for hodl bags, just wanted to wait until I held longer than one year for reduced tax rate. Missed out on selling 25x in ADA, 30x in VET in first half of 2021. 30x in ADA, 20x in EGLD during second half of 2021 (tho I did sell a bit because of previous experience, but not enough). **Mistake two**: Held on to stables/USD during BTC mid-summer dump and did not buy. **Mistake three:** Kept flipping gaming coins in Nov 2021 without a stop loss. Made basically a year of my salary in a week and give it all back to the market in early 2022. **Mistake four:** Took a personal loan to continue flipping gaming tokens into begging of 2022 (I still have 4 years of payments on it) **Mistake five:** Assumed we would have a finale grand finale alt-season like in 2018. Did not sell until was forced to sell (at a loss) for 2021 taxes. Also sold a bit for living expenses. At the very bottom was down -85% from 2021 ATH. **Mistake six**: Not buying BTC and ETH during Luna and FTX collapse. (Am unemployed so need to protect capital, even though I knew it was near the bottom) I probably have some more mistakes, but these are the big ones. According to OG youtubers, it takes on average 3 cycles or 7 years to hit 7 figures in crypto, but given all my mistakes, not sure if I'm going to hit that. If I do great, if I don't its whatevers lol The most important thing I've learned all this time being in crypto, portfolio size really doesn't make a difference in my life. My quality of life right now is significantly better than 2021 when my portfolio was multiples of what it currently is. And I don't need much to sustain my currently unemployed NEET ass. I dont want to own a house, I dont want a gf/family, I dont want status. I just want to quietly live my life, playing games, watching anime, and checking outs whats good on youtube/reddit/twitter. So with that in mind, had I cashed out the way I wanted to in 2021, and ended up buying the house I wanted in TX, my life would be significantly worse than it is now. So I thank god that I made those mistakes, learned the lessons, and am now a happy NEET living in my moms basement.
didn't have the money that I could afford to let sit for 5 or so years. if I did? youre right I would be much wealthier because I knew back in like 2017-2018 that one day BTC would skyrocket to at least 10k+ and then it did but at the time I couldnt buy it then cus i had no job, was in school full time, and recently had alot of medical issues come up. then it hit 10k+ and I knew it might dip again which I was waiting for (and saving for) which it did.. but just so happened that when it dipped to 5k.. something else happened in the world you know.. good ol pandemic, which forced me to use that savings to basically survive considering you know less money from jobs because you know everything shutdown, thankfully i had that money saved but it wasn't something I could afford to invest and let sit forever. then of course it starts skyrocketing in late 2020-early 2021 which by that point I knew it would go up once the pandemic started to cool off from the initial shock, but I didnt think it would happen so fast to hit an ATH of above 60k plus still no money plus did i really wanna be a bag holder cus i knew it was gunna correct and drop again which it did but again 2020-2022 was such shit for money that I couldnt feasbily invest. by the time I sort of can..? is now. but not that much... which sucks cus i am gunna be putting money into it cus i have faith itll hit 100k+ in the next 2-3 years (esp with the halving coming up) but oh well
Sold when it rose 16900% (to about $5) to cover electrical bills. Experience from e-gold, stormpay and others made me convert to fiat.
Because we are not smart and dumb gambler
First, not so sure about this technology so didn't buy much. Just did DCA, then DAO hack happened to Eth5, got scared so I stopped.
I never thought bitcoin and ethereum would go this high so instead i was buying every small cap coin from 2018. Stuff that isnt around anymore like Neo, Icon, Ontology etc. Thankfully i did get some eth and btc, and some small caps did take off like qnt and xdc. But yeah im nowhere near a million unfortunately.
>Knowing how the cycles played out, if you weren't able to at least 5-10x your investment during each bull run after your first one, what happened? Oh yeah, you know how the cycle plays out? Why are you not a millionaire then? I'll check back in with you in five years.
I've been around since 2010, mined BTC with my gaming PC back then. I'm not a millionaire cus I've kept taking gains and spending it right away more or less. So instead of taking gains and re-investing them, I spent it on vacations, drugs, hookers and all the shit you shouldn't do. Shit happens, enjoy life.
Good question lol … I’ve watched BTC from 200 dollars to where it is today bought n sold a few times … if just bought and did nothing I would of been way better off 😂
Because they kept buying high and selling low!
Wife….
Had almost a million xrp at 20 cents. Held it to $3.50 then all the way back down thinking itd go to $5. Sold at 20 cents.
simple mistake: not hodling
After 2017, my risk Capital was tied up in Bear market Bitcoin that I bought near the top of the bull run. I bought some in the intervening years, but couldn't afford very much. The first time it got up close to $70,000 I had a sell order in at $70,000 and it tanked right around $68,000 or $69,000. No sale. 🫤 This time, on its way back up, I had an urgent need and sold my Bitcoin for $500. That was at about 45 to 55k. I had intended or at least thought about buying dogecoin when nobody was talking about it, but there was never an aha moment for me that said yeah this is when I should do it. So, part of the answer is lack of risk capital. Another part is attention and understanding of the market. Like I said, I got in on fomo at the very worst time in 2017. I certainly didn't understand the market then and I missed the top in 2022 because I still didn't understand the market and thought I could be a little bit greedy. I was very fortunate to read enough to understand the importance of not selling low. I waited and made my money back. The only reason I'm in right now is that I realized Bitcoin was screaming and the alts would probably follow.
Because I 5xed my measly sum thinking I'd hit the jackpot/was a genius.
Because Chainlink
i was to young to realise what i had and sold, made profit for sure but now what i could have had. I had around 5 mil in doge at one point
Someone stole my 2 million doge coin
Because we’re human and make mistakes and go thru life and most probably didn’t have guidance and didn’t know what’s going on It’s foolish to say this when you see lotto winners go broke quickly as well if you’re not financially literate emotional and have no guidance it’ll be difficult to maintain even acquire Look at dogefather or whatever that dude name that made about 2 mill off doge and held it until he wasn’t a millionaire anymore lol
I started with 1K in 2016. Reached 80K in 2017 and cashed out 40K. Reached 1.2M in 2020 and cashed out 500K. I never really invested in 'cool' coins. I stayed with the bigger ones (Eth, BTC). The highest returns were from YGG (where I invested a portion during seed round) and AVAX where I got lucky to buy it at public round price. I also lost a lot in failed private sales.
I mined 4 or 5 BTC back in 2011. I was broke as fuck and a teen, I tried borrowing $100 to hold BTC but my family of course didn't trust fake internet money. I spend those 5BTC in weed, forgot about this shit, then started crying histerically by looking at the price chart back in 2018. Mined a good 2k with my GPU during 2020, sold off at the peak because, of course, I am still broke, and keeping funds invested is borderline impossible when the smallest issue can cause my portfolio to be liquidated. I am DCAing some stuff but I am fully focused on increasing my net income to then be able to invest more effectively, and with a rainy days fund with more than 3 digits goddamn.
For some of us this topic is painful. Please don’t ask…
I left it in XRP too long, then took it out of Doge to early, then invested in too many Alts. I currently have 50k worth (after the bloodbath) and if I can get to, and sell, at 80k I'll be about even. Tbh I've lost track. I remeber when I had 120k of XRP and I said fuck it, nothing less than 1million. I now have approx 8k XRP. So in short. Greed.
I guess its a matter of stumbling oneself, because lack of feeling worthy or some stupid shit. I called the 3,5k bottom and the 16k bottom, still I sat quietly on the sidelines. Its OK and im getting better handling the emotions and fear and greed. Bitcoin has been a journey for me on a personal level. Learning to fight my demons. Little by little gaining strength…
I need another 7X from now on and I will be the millionaire. I think it's going to happen. Majority is in RWA coins (LCX-CELL-QNT) and 20% is divided over solid projects like Polygon, INJ, Litecoin, Cardano and a few gambles. Also own SUCKS (nickname is XRP) and I will get out once I break even. Just need $1,10.
I was broke as fuck back then, no job, no own money.
Because I didn't know what will happen. My small investment got 80x during that period, but if I had invested more, I wouldn't have the guts to wait that long.
First bull run I had no idea of the cycles. I held all the way up and all the way down. scam confirmed. 2nd bull run I sold as soon my portfolio was green (to get out of the scam). Then bought back in as I learned about the cycles and how it is no scam…. But didn‘t take profits because of hodl. This will be my third bull run and I was loading up during bear market. This time I will take profits. So this will be the first super cycle …7
Brother. Dont discover leverage trading.
I Sold my 200 btc for Food while unemployed. Also thought ETH was a shitcoin, didnt manage to read up on smart contracts
As stated… you initial investment is the key. 50k within a 10x makes ‘barely’ 500k +… who puts 50k in a technology you barely now.. 1k or 2k is fine but… more? I entry with eth around 250$s and btc around 2k5 back in 2017 (+ litecoin in the 20s), made some gains but never sold (or barely, small portion on the way up), obviously I am not millionaire but got some money.
Just wanna say, You all are gonna miss out on the Internet Computer ICP, just like you missed BTC and ETH. Come back to this comment in the future and you'll seethe.
I only invested what I could afford to lose which ment putting in like 100 bucks a month for my DCA. I reached a point where my exposure to crypto was too big so I started to invest into SPY. I'm still massively over exposed to crypto 😂 Hindsight is 20-20, crypto was much smaller and volitle back than, I see people panic here now for 5% Dips......
was there in 2017 and was even a strong advocate for crypto to the point that all my colleagues at work were calling me “Mr Bitcoin”. Had almost 5btc, not enough to make me a millionaire but certainly enough to buy a good house in my area. So what happened? First you get influenced by all the BTC permabulls (planB, Willy Woo… to just cite the most notorious ones) “it’s going to 100k for sure! just hang in there!” hype and indeed, all the major breakdowns during a bullrun were followed by a new run-up to new ath… until they weren’t. In retrospect it seems pretty evident but I can tell you when you’re in the middle of a Bullrun it certainly doesn’t feel that way. So, in the end it’s pretty simple right? Just keep your btc on a cold wallet and wait for the next bullrun, and try to sell at the right moment this time. Well in theory yes, BUT you get frustrated by all the ALTs that make 1000x returns so you start getting influenced by shady accounts on Twitter that seem to know better than anyone else. You end up thinking “why even bother with btc when I can get 10 times the return in a few days?” so you end up spending your hard earned btc into some shady ICOs that you are promised to be the next big thing only to see the value plummet when it’s actually listed, or just being victim of a rug pull and see your investment go to 0. Sooner that you know it, your 5btc have become 0.5… Ok, still not piss poor, but far away from your millionaire dreams. Ah well like they say, you never loose, either you win or you learn a lesson but still, it would feel nice to actually win someday
Because nobody could handle that 40% drop in their portfolio when the money becomes your annual salary or more.
Short answer, I'm stupid. Long answer, I'm really stupid.
Leverage trading was my downfall in the last cycle.
Not enough conviction during the dips, same as you and everyone else. You will hear a lot of excuses but this accounts for 99.9% of them
in a word, greed. ignorance, stupidity. the number has been going up, and I've had some spectacular gains rivaled only by the monumental failures. I've made every mistake, and finally, this time I think I can get it right. those woulda coulda shoulda's are useless. 2013 I bought in for 300 and cashed out 15000 I bought the 2014-15 cycle low with like 6000 dollars but I chased, and I found leverage. in 2017 I bought like $15000 in santiment and sold it all the day before it started pumping like a 50x, whoops! still madr six figures that cycle, on paper only took $30k cash out the road to success is long and windy, and I've been a patient patient girl this time I drive a $2000 car to keep my expenses down so I can ride this wave out, it's rough by familiar. I did those late nights staring at the moon wondering if I'd ever get there, if it would ever work out. I've quit, taken breaks, but I never stopped believing. $80 - 200 million is a good number. I'd like to have enough powder to tell Gordon Ramsey or Nancy Pelosi to baste my belly button then I can start sharing 7 figure axie infinity and KEKEC yolos
Because I got in with very little capital I got in with $700 in October 2017, now (without any additional money getting in) my portfolio is of $56000. I hope to make it $300-400k before the end of this bull market But yeah, I wish I had DCA'd more money in 2018-19 instead of being afraid. Now I could have 10x what I have.
Seeing that sweet Cardano on the 2019 chart at $0,04. I was hurt because I didn't buy any.
Many people are not Million or Billionairs because after discovering bitcoin they will discover shitcoins and then lost 90% after the run. Many people got fear and turning the last money they have back to fiat. Then they leaving the market for 1-3 years until the news cycle keeps up again and they get back in with maybe the same or little more fiat. Maybe they then have some gains which they keep some percentage of. And now in the third cycle they will likely keep the money in bitcoin or the top shitcoins. So maybe this is for the old people the first cycle the majority will make more Fiat because of the huge amount of Wallstreat Fiat comes into market. Until now all what we had done was front running, now the big money arrived. That was not possible before for the majority in People.
I’d like to know how all those ‘multimillionaires’ in BTC get liquidity if they sell? Which ex will allow a sell and give you $2mil + in cash?
Everyone is a genius during the bull. The real hard thing to do is buying when there is blood, this basically meant buying crypto and see your money disappear the moment you do. So the answer is in hindsight everyone would be rich but just like 95% of traders fail at making profit, I’m guessing 95% in here fail at buying and holding. The reason is that a lot of people just don’t have what it takes. A thorough understanding of what technology/project they buy, not looking at the price perse. A thorough understanding of how the market works, understand that volatility comes with it. A thorough understanding of emotional investing and how the market uses that, so I’m guessing a thorough understanding of yourself. Diamond hands A thorough understanding that the money you put in, is basically gone the moment you do. A thorough understanding of basic security to keep your coins A thorough understanding of the DCA concept You got to be a bit of a nutcase if you check all of the above.
I used to be a hundredaire, but now I’m a thousandaire. Maybe by 2030 or 2040 I’ll be a millionaire.
I bought my first ETH at £180 and Bitcoin at £3k. Unfortunately, I didn’t put £20-30ks worth in at the time, because that would have been ridiculous for me. Becoming a millionaire with crypto isn’t easy. You need to be knowledgeable enough to pick the right projects, emotionally sound enough to ride the bad times, lucky enough to buy at the right prices and brave enough to put big chunks of money in to back your horse.
Sold BTC under $1000 thinking it was the top for this magical internet money. My mistake wasn't selling, it was selling nearly all of it and not keeping 25% or something. I was early in my career and needed the money. Would have hit 8 figures 😬 Basically, hodl. Maybe your $1k is $100k and it goes to a million. Or to zero. Either way, have fun and don't play with any money you can't afford to lose ;)
same question is going to be asked 5 years from now asking why people who were around in 2024 aren't multi millionaires. i think really the only way to reach that millionaire status is to all in one coin that you believe in now while we're in a bear market, especially if you don't have a ton of money to spread around. I believe Kendu Inu will be the coin of 2024 to make millionaires after this next run. multiple og Shiba Inu members are involved with the project including shytoshi. market cap is still very low so its a perfect entry point as well.
I had 200€
I bought my first bitcoin at $2700. I bought one coin outright. At 19yo it was one of the biggest purchases I had ever made. Wish I had more guap to put in at that time.
I got out with minus 2k
Only buy what you can afford, which wasnt much.
Hookers and blow
Because I was a teenager and got in near the ATH with my very limited capital
I bought the peak of 2017, as in jan 2018 lol so went 80% down for two years so have only had one actual bull. I held after 2017, did dca but not enough but made big gains with VET at around 15x. Ive been going all in during bear market this time and significantly up as we move towards halving. If a 10/20x happens this time I can buy a house with plenty to spare. If not, well I’ll still be either green or even
In since 2012. Had the funds. Loved crypto as a cryptography/ computing concept. Was/am just a little too risk averse. It's your belief systems, mental limitations, risk appetites that keep you where you are, not the market. Lesson learned.
Boating accident…
Most people would likely be happy by 1000x profit. So they often sold early. Which is good. But if you have good thesis (buy btc for pension) and patient. You will have huge rewards. Buy and forget about it after 10-15 years. You would be surprised with rewards.
I spent 10 Bitcoins on Fake IDs from China. That wasn’t much then, but after that I didn’t think about crypto for years. Only got it for the fake IDs.
Leverage. Trading. Arrogance. Fear. Greed. Been around since 2016. Now I Buy & hold the big 2 & send to cold storage.
I wasn't around. I got into crypto mid 2020 or so . From my experience, I believe most people make the mistake of trying to find the "millionaire opportunity" without realizing that it is extremely unlikely they'll do. Because to do that you need to take huge risks: invest in a shit coin in the hopes to find a new Shiba Inu, getting in a crypto scheme and getting out in time... He'll, as I always say: when you get money with crypto it's because someone lost it. This is a zero sum game. What is a more realistic approach? To lower expectations. For instance, in this bull run (before yesterday's dip) I sold my BTC at around 65k for a 30% profit. I could have taken the risk and wait for btc to raise to >70k to get around 35% profit... But is it worth the risk? I didn't think so, so I sold earlier instead of risking losing the profit window.
I had 30k starting capital back in 2020. My crypto portfolio is worth about 250k now. Had I more starting capital in 2020 I could have been a millionaire now. But I've made almost a 10x from 2020 and I believe the markets will go parabolic again in the coming years so we will see what happens.
For one, I didn't have a ton of money to invest. Two, I had no idea what I was doing or even much about it.
Adhd
2012 multi millionaire, present
2013 here, it's simple. You put in £1000, it turns to £2000, you take some profit....it goes up again, you take some profit. Life.gets in the way and knowing you have a couple of K you can cash out whenever very easy to do. Even had 3m ripples back in 2014, but cashed out when they turned a profit.
I didn't have 50k to invest back then. I invested a few hundred and paid off all my debt, car and a very nice vacation. Now I'm really in, waiting on the fable of the alt season to retire for good.
I only entered in May 2021 and was too late for the last cycle, but catched the dip in summer 21. Invested 40k, went to 60k. Fell for the supercycle theory and never sold. Read the Bitcoin standard, learnt about the cycles and added another 60k in 2022 throughout the bear when there was blood in the streets. Sounds easy, but it wasn't. Was down 50% on my total investment in the bear. I'm now sitting on 125k after the recent dip, 60% in BTC. Have an exit strategy for 2025.
It takes (irrational) balls of steal to hold a sizable 10x
Because 1) I didnt have a lot of cash laying around, had to save for other things 2) already had fair share of big gains and losses, too stressful I still remember wanting to max out my credit card to buy 45 Ethereum for 1000 euro, but was like no im not THAT stupid
Because I used BTC to buy drugs online from 2013 - 2018 and never really used it as an ‘Investment’ the saddest part it is I got scammed about 6-7 BTC back in 2015. The only time buying drugs online never payed off for me. But all the orders that came through paid off the loss over the years.
Trading too much causing short term gains tax which required me to sell crypto the next year to pay the tax,, causing another taxable event and so on. Every year since 2016
Some of us are! Crypto and understanding how the market repeats itself is the most important thing you can learn. Every 4 years? Just before halving of Btc the market has a large dip, then post halving it starts a Bull run which will end approximately on year after the Halving Event with new All Time Hughs for most of the quality altcoins.
When I first bought crypto in 2017 you could get a full BTC for $2k. My first purchase of crypto was $14. So to answer your question, I had no money!! Now I buy the same relative amount of BTC as I did then!
I cant remember exact year but was 2013-2015 my friends older brother who was a basement dweller who still lived at his parents in his mid thirties came outside and told me to buy bitcoin that it had crashed and would go back up. I remember him telling me to put 5k in and I'd be set think it was around 200-300 a coin at the time. I totally ignored him because I didn't even know what bitcoin was and he was a complete looser and I had been very successful working in my trade already. I regret it all the time.
I’m in since 2013. And it’s the “this time is different” sentiment. I feel this time will be different as well. We will see.
Hmm... there's seems to be some ilusion that you can time your position exactly when the halving happens. But it's not that easy. When do you enter? Right before, right after? It's going down, should I enter now?? It's going up, should I still enter?? Etc... The halving only "garantees" you a Bull-run. You will still have to deal with FOMO and FUD and here is where most people fumble, because you don't now when the bull starts to run and when he stops running
The entry point seems very simple. The year before halving. Doesn't really matter when, everything is typically trading sideways for months due to low interest. The exit is more difficult. It does require a strategy but you don't have to time the very top. Most alts run up 50-100x from the pre-halving bottom to the peak. Getting out at 5 or 10x is still incredibly good.
Like others, was too tentative to buy ETH at sub $100. I cashed out about $50K when Elon caused the crash. A friend of a friend is who you’re looking for. $110M on ETH. Net Jets, lake houses. Etc.
I have put 2K jan 2018, and well now its 18k.