Crypto is highly rewarding, but we've all made mistakes and have regrets of having made poor decisions. Yet other times, we win big because of our decisions. I myself have my own fair share of fails and wins, but I'm curious to know what yours are when it comes to crypto!
FAILS
Now before everybody starts posting 'My biggest fail is not getting into Bitcoin in 2010', which is rather obvious, I would like to focus mainly on the strategical mistakes that we've made in our crypto journey.
For me, the crypto-experience has been overwhelmingly positive but even so I have serious regrets from mistakes or bad timing on my part. Let's go through a few!
I regret not having bought RaiBlocks (XRB) at $1.40, only to watch it run all the way up to $35 as I kept waiting for the dip to buy in. Of course I bought in later after the price went down - but in hindsight, I kind of regret that too now
I regret selling my free Stellar Lumens (XLM) airdrop coins, especially now that it's a top 10 crypto
I once made the mistake of trying to profit off of a pump & dump (Chaincoin - don't laugh 😳)
I regret not having signed up for the Ontology (ONT) newsletter in the beginning of this year - as all subscribers were given 1000 ONT for free (current marketprice worth: about $8000+
I regret getting into STRAT because some crypto-youtubers hyped it up
(Bonus: 6) I misjudged Bitcoin's parabolic rise last autumn, and was almost entirely in alts and missed out on all the gains! fortunately december made everything right again though, so the jury is still out on whether or not this is a win or lose!)
WINS
Like I said, crypto has been overwhelmingly positive for me and some of my decisions have turned out to be pretty good wins for me. For example:I got into a ton of coins before they blew up. I did not always get to invest as much as I would have liked, but I have won pretty big especially on NEO, OMG, ONT, EOS.
I have been in crypto for quite a while now, and feel blessed and like a winner because I'm part of the early crowd and benefitted a lot from this
Joining Steemit has been (and continues to be!) a huge win for me, allowing me to grow my portfolio by hundreds of dollars
I must have received more than $500 worth of free crypto from airdrops, giveaways, contests, etc. which I consider to be a pretty big thing. One time, I received 0.66 ETH just for signing up somewhere, wow!
Out of my entire investing portfolio, my worst investment (STRAT!!!) 'only' gained me 10-20%. The fact that my worst investment actually made me money, is a pretty big win to me 😁
That's basically my list! Interestingly, when writing it actually down I noticed that I found it much easier to highlight my worst mistakes than to mention my biggest wins. Which is weird, considering my experience has been so positive! Perhaps the general 2-3x gain here and there just feels too mundane to be considered a huge win?
I'm curious to know what kind of biggest Fails and Wins you all have? Please do share about what your best and worst decisions have been!
So many regrets, though I can't fully regret any of what brought me to learn what I've learned. That will be the foundation for future gains.
I regret buying ICX (three times in and out and in again) when I knew I wanted XLM, which has performed far better. I regret sticking with a forked coin through the fork instead of selling all of it right before the fork. (Thought it was a win on the half I did sell.)
I am glad to have picked some great coins for the long run.
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True, I've learned a lot from my mistakes too! And I feel like most investors go through more or less the same stages, and make more or less the same mistakes. Then at some point we simply learn to hodl instead and be happy :)
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Right now I'm debating hodl vs. trading bot.
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If you have enough knowledge of TA predictions and programming skill you could give it a shot, but personally I'd be too worried that I didn't program the bot perfectly. It seems like it would take a very long time of testing and tweaking to get it just right... enough to outperform yourself.
And I'm not sure trading bots are most efficient when the market is in a massive bull run. They may be great in bear markets or when going sideways though.
Usually when I am in doubt I go 50/50.... in this case, hodl 50% and use the remaining 50% for a trade bot. Seems like a pretty decent plan? :)
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Great points. I think I'll go even more conservative. 90% hodl and 10% trading bot. I couldn't program my own though, so considering buying one that 's connected to a trading signals service and seeing how that does for me.
I definitely see how in a bull market you might as well just reduce trading fees, since everything is going to be going up. But in sideways or downward spiral, that's when the bot really comes in handy. But then, so does that nefarious Tether at such times.
Thanks so much for your input.
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I lost 101 Nano,forgot to save wallet file.
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Oh dear... So sorry to hear! That's a pretty terrible fail yes :(
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I bought EMC2 pretty much the day before they were releasing big news... and that news was that they were delaying some functionality... and the stock plummeted never to recover... I ended up selling it off after months cos it just wasn't doing anything.
I do regret not buying EOS at $5.70. I was totally going to but couldn't work out how to get around the region-restrictions. When I later figured it out, the price had doubled... which is fine since it's near $20 now.
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EMC2 ?Einsteineum? Are you telling me it's an actual real project of sorts? I thought for sure this was an empty pump & dump coin! I remember it skyrocketing a while ago and nobody seemed to know what it was it why it was going up!
But we all fall victim to buying into crap coins at some point :)
And yeah, you should've bought EOS at $5.70 !! That's when I added to my stack too!
But don't worry I'm pretty sure EOS will drop down quite a bit at some point. If $20 turns out to be the peak for the moment, then usually the market will drop to 50% of the ATH.. so somewhere around $10
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Biggest fail: Selling my Ethereum for Bitcoin in November 2017... I had bought it at $250...
Biggest win: Selling my USDT and Bitcoin for Steem about a month ago
These are meant to be pretty recent, for the people who got in later. There are a few more fails and wins farther back in the past...
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I wouldn't be so hard on yourself! Missing out on the 4x gain that ETH had (it's only 2x from your buy in now) is very nice, but not nearly as awesome as many other coins had! If you managed to be 2x ahead of where you were back then, then you're still as good as if you had held on to ETH.
I've been steadily holding my ETH since august but truthfully I don't feel like it has done so awesome, compared to some other investments!
Congrats on that USDT+BTC -> STEEM conversion!! Very nice.. what's that, 3-4x gains? That must've made up for a lot of losses :)
You win some, you lose some!
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@pandorasbox thanks for your informative post.
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My biggest bad call: I said that EOS's price would continue to be depressed. I even sold my shares at 0.50. Then they shot up and never looked back. I'm actually surprised given how much is put in circulation per day. I also wanted NEO at $7 but couldnt't get fiat into the market fast enough. That is another crypto that shot up and never looked back :(
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Biggest fail has to be AMP - put around $1000 into it when it ICO'd, and it hasnt really done very much. I'm still up overall, but not as much as with some other projects. If i'd have put that $1000 into XRP or SIA, at the same time, instead of very conservative amounts, then I'd be a fair bit richer... Cant complain though, no real losses to speak of yet. :)
However, I think my biggest 'win' has been creating a platform for discovering and researching ERC20 tokens, and exploring the Ethereum network. Giving back to the community by building a (hopefully!) useful tool is a nice feeling.
You can check it here if you are interested - https://steemit.com/cryptocurrency/@sroka87/trivial-a-powerful-ethereum-network-explorer-what-can-it-do
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