Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by Hueristic (1)
It bugs me to see crybabies whining about MtGox.
If you were around for MtGox, 7.5 years ago, you have no excuse for not being rich now.
Sure I lost 50 coins at MtGox. It was my own fault for keeping that much anywhere except offline in secure paper wallet cold storage. Sure I could whine about trying to get my coins out for almost half a year while they made excuses about needing identification even though my account was created anonymously. I could whine about their lying and ignoring tickets.
Ultimately it was my own fault for having any coins at an online exchange. I got played for being a sucker/trader.
The important thing is to learn from your mistakes.
I stopped exposing my coins to the internet unnecessarily. I bought and sold only from ATMs and OTC. Eventually I built a network of OTC contacts. It's been years now since I've had to use an ATM.
The important thing is to be patient and only sell when you absolutely must. If you need to pay a bill, so be it. When you achieve certain goals, enjoy a little. In January 2018 I sold a little on the "dead cat bounce" at about $21kCAD per coin and bought deluxe dental implants and property in Mexico. This year I was lucky to sell some at the ATH and buy a lake.
My entire stash cost me less than a new car and most of it was bought post-MtGox. Spare me the crybaby whining please.
If you were around for MtGox, 7.5 years ago, you have no excuse for not being rich now.
Sure I lost 50 coins at MtGox. It was my own fault for keeping that much anywhere except offline in secure paper wallet cold storage. Sure I could whine about trying to get my coins out for almost half a year while they made excuses about needing identification even though my account was created anonymously. I could whine about their lying and ignoring tickets.
Ultimately it was my own fault for having any coins at an online exchange. I got played for being a sucker/trader.
The important thing is to learn from your mistakes.
I stopped exposing my coins to the internet unnecessarily. I bought and sold only from ATMs and OTC. Eventually I built a network of OTC contacts. It's been years now since I've had to use an ATM.
The important thing is to be patient and only sell when you absolutely must. If you need to pay a bill, so be it. When you achieve certain goals, enjoy a little. In January 2018 I sold a little on the "dead cat bounce" at about $21kCAD per coin and bought deluxe dental implants and property in Mexico. This year I was lucky to sell some at the ATH and buy a lake.
My entire stash cost me less than a new car and most of it was bought post-MtGox. Spare me the crybaby whining please.
I too will admit that I lost a non-trivial amount of coins at an exchange in the early days. I won't name the exchange, but it wasn't Mt. Gox.
Did I whine or cry? No. My own stupid fault for trusting them. I learned, and moved on.
Not your keys, not your coins.
Losing 120 or so coins on MtGox/Bitcoinica taught me how broken bitcoin is. If someone as intelligent as me can lose that much, then most ordinary people don't have a chance. It's just another reason I know bitcoin will never work out.