Ask a guy who has been in crypto since 2013 and lost 90%+ in 2014 and 2022 anything
I’m not going anywhere. It’s mostly BTC from here. If I go into a coma for 10+ years I want just BTC.
This thread is to help those who have struggled, can share stories, so we can grow and learn from our mistakes.
The worst thing we can do is not learn from our mistakes. I admit I’ve made a lot of errors and had regrets. I am open about my experience and if I/we can help spread positivity during this time/bear market then we can make it in this space and reach our goals.
However before we pass judgement, remember no one is perfect, we all have made mistakes in our crypto journey – whether it’s FOMO, losing keys, losing crypto on exchanges, buying high selling low, catching falling knifes, telling family and friends about crypto at wrong times, not buying projects early.
I’m surprisingly optimistic despite what I had been through this last decade in millions of opportunity cost.
The number one lesson is cold storage. It has been preached all over this sub especially during this 2022 collapse of centralized exchanges. The only person you can trust is yourself – just not the devil inside you.
In 2014, not thinking about cold storage I lost my bitcoin, doge and other crypto on an exchange. I also missed buying ETH at $1. That experience also made me turn away from the bear market and my perception on the industry. It was a struggle to turn my back on the industry after watching the rise.
The biggest regret I made was not following my gut, and not investing in the bear market (much similar to the one we are now). The sentiment when MtGox collapsed was much worse than now.
The difference is bitcoin is alive and well but much cryptos are dead in the water. In fact if you told people in 2014 that bitcoin would not only get to the impossible “10k” it would surpass that to 20k in 2017 crash and go to 69k in 2021 to only fall to 15k again and everything would think it’s dead, they would think you bought drugs on Silk Road.
Every cycle brings higher highs and lower lows. With each cycle more adopters, believers. There will always be skeptics. The greatest marketing for bitcoin is absolutely free – “bitcoin is still alive”?. Usually that happens after each bear market
Also most people including myself end up with less bitcoin – due to errors, trading, misappropriation etc.
The best thing you can do in a bear market is control your emotion. Either buy and hold bitcoin, or do nothing. Be patient
Remember if you own .28 BTC you will always be top 1% holder. In 10 years it’ll be out of reach for many. There is no doubt bitcoin is the future. Getting to 1 BTC will be harder each cycle. There is no doubt in my mind bitcoin will be worth millions.
For those who lost substantial amounts, be patient. You’ll thank yourself next bull market or in the future for not turning your back this bear market
Inb4 “you’re going to lose it a third time”
submitted by /u/SimplyShred