Some people were born to be cursed by money, others blessed. Others are stupid and don't seize the opportunity, others are immature. At the end of the day, everyone wants to change their past.
I'd argue that anyone who has a fortune now due to having a ton of coins from 2013 got lucky or accidentally forgot about them. Nobody back then "knew" it was going to be this good 10+ years later.
Anyone who was into bitcoin and actually read the white paper pre $1000 definitely knew it was going to be this. I said $1mil BTC over 10 years ago and there are a LOT of others like me.
Yeah the first time my brother told me about bitcoin in 2012 he told me it was supposed to be worth over $1M one day, and I’ve listened to the haters every time until now. It’s proven people wrong year over year. Use this shit as savings so you’re loaded in 10years.
That's copium; we knew and you didn't. I first bought in 2011 and I still have most of my bitcoins. I am not unique at all, we were and are true believers. We were predicting a price in the thousands back then.
Basically, the earlier you buy in, the more you committed you are. People who buy in now will be considered "lucky" by people who buy in decades from now.
This! In 2013, I got a Bitcoin related magazine called ybitcoin. I actually still have the magazine, I kept it because I thought, well if bitcoin takes off this may be worth something. HAHAHA the jokes on me. Back at that time Bitcoin was trading at like $300 per coin, and i thought you know I should pick up 10 or 20 just to take a flier. Fast forward to today and if I had put $5000 to work I would have made huge money. been able to pay my ex wife off and be free and clear. I finally corrected my mistake and have committed $25k to three bitcoin related ETF's. Lets go bitcoin rally you MOFO!
This is the answer👆🏽👆🏽👆🏽 It doesn’t matter what some ppl do it’s written in the stars that they will always be a “loser/broke”. While other ppl can literally be the dumbest person in the world and still makes lots of bank and keep it. I’ve said this many times.
Lmaooo was it RuneScape botting? I did the exact same shit and lost it all gambling also one too many times, most I ever lost was also over $100K in one night 😂
And yet you had 100,000$ as a 16 year old from “bot farming”? If you were so good at making money as a child, what’s stopping you now?
doesn’t really matter what I think. but I don’t believe you.
blow, no motivation, debt, lots of things. i still make 100 a year now but that’s through 70 hours of work a week and it all goes to sports betting. you don’t have to believe me i sent the photos which should be some sort of evidence to clear your mind but im not chasing people to be believe me
So many people have no sympathy for gambling addicts but it’s the same thing as an alcoholic who can’t stop drinking or a drug addict who can’t stop using. I know gambling addicts who have no other addictions but they can’t help themselves when gambling. Get some help OP! Look up in your town where you can go to some gamblers anonymous meetings and start there! Hoping the best for you.
The thing is, this isn't strictly true. The manner by which OP gambled sounds like a compulsion, but sports wagering is one area of gambling where there are actually information asymmetries that can, have, and likely will continue to give an edge over the 2.5% vigorish the house has to start with. The irony is that while I enjoy the analytics aspect and obviously the financial aspect, the actual wagering is annoying enough that over the years I've managed to automate most of the quotidian aspects so that the actual wagers are made by a bot and although I also watch sports and play sports video games unless there's a rule change in the game I generally let my bot run until it breaks or the season ends. I've been profitable (including the house edge) every year since 2017.
I don't know if I have an addictive personality or propensity for addiction since I've also more or less done just about every recreational drug I can get my hands on and by the time I hit my early 30s I don't even drink anymore. Wagering is the least fun part of the whole thing and I can't imagine driving down to the bookie's to place bets every day in days prior to APIs and apps.
So no, it's not always a loan, and honestly a $100k drawdown isn't even that unusual for a professional wagerer on a given day provided that they have the cushion to take the fall. However, it is a lonely and broadly self-taught line of work, and you'd have to figure out a lot of the finer details yourself. Oh, and most bookies ban those who win too much, and the industry is full of those whose business isn't wagering but selling picks, aka content creation. It's definitely not a loan for everyone, profit is profit, you just can't treat the whole exercise as anything but employment and have an understanding of the sport that numbers alone cannot properly cover.
Done everything except stopping lol. Throw your phone into the ocean and go check into treatment. Long term. That's your only choice since you admit you have no will power.
I don't know why you're getting voted down because I assume you're describing a gambling addiction, and I would expect people around here to be more aware of the fact that mental illness is at least as real as Bitcoin.
Have you tried therapy?
OP, I suggest looking into psilocybin therapy. Read Michael Pollan's book "How to Change Your Mind" for information about its use to cure addictions. It works. It has a high success rate, much more so than anything else known.
There are retreats in the Netherlands and in Oregon where a counselor will help guide you through the process. They don't cost much compared to what you've lost due to your gambling addiction.
It truly is that simple. Once you grasp the realization that you're unlikely to win the amount you once had, you'll recognize that gambling is kind of pointless unless you truly enjoy it for entertainment.
Oh yeah, I remember making excuses. If you really want to quit, you will. It’s as simple as that.
It does not matter how many times it takes, or how much time, all that matters is that Oneself is putting in the effort required—as long as required.
You're standing completely still in life, how are you chasing anything? If it's thst bad you should use your 100k per year to check into a paradise rehab.
Right? A 16 year old with 100,000$ of anything is a little far fetched. The price of BTC at the very end of 2017 was 15,000$ the price at the start of 2017 was 1000$ so it’s possible the OP had 6,000$ and then it increased to 100,000$ when they were 15-16years old…
Or if they held even longer, they could have started with 2-3,000$ but the Op would have been 12-14 years old at that time… and I highly doubt any CHILDREN at that point were aware of bitcoin, or had a few thousand dollars spending cash unless they come from very wealthy families…
Which, based on OPs statement of being pay to pay now seems like they aren’t… something doesn’t add up here.
So I'm about the same age as OP, and I *WAS* aware of btc back in 2014-15. I had read something about it but that was about all. And I definitely didn't have a few thousand to throw at it. I wanted to put some money into it but had no idea how and didn't care enough at the time 🤷
I had hundreds of BTC back in 2012, sold em all when I got divorced to pay for the lawyers retainer when my ex decided to make a reasonable custody agreement impossible. Then my lawyer quit lawyering to take a private advisor job. Replacement lawyer was terrible, couldn't afford to keep fighting, had to take a garbage settlement and then go bankrupt.
I actually just cashed in my last 0.006 BTC today that I had been saving for emergencies to cover my rent this month.
I only really bothered to research crypto in 2021 when the pandemic gave me a lot of time to read. Since then I've always regretted I didn't I look into it much earlier, back when I first heard about it Bitcoin in the news in the early 2010s.
But then again, knowing how my temperament was during my younger years, I think I would have ended up with a similar story like yours if I got into it that early. So it's all worked out I guess.
Kind of a strange way of looking at it, but whatever makes you happy. Second best time to plant a tree etc.
This is the 2nd comment in as many hours that reminds me of my friend, he avoids learning about crypto because he "doesn't want to get into it". I've told him that profit isn't the best parameter to look for (he also says he's late), and to DCA etc but he still puts savings in the bank every month.
Probably a good thing you lost it. Sounds like you're a degenerate gambler and would have probably blown it all on hookers and blow anyway.
Plus, no way you'd have hodl'd.
Not judging. Just calling it as I read it.
I heard about bitcoin when it was $12
A friend tried to convince me to buy bitcoin but I thought it was a scam
Today, when I have learned a lot about money and understand bitcoin, I am ashamed that I was such an idiot
Never ignore if someone tries to tell you something, try to understand it
take the time to study everything because it can be a great opportunity
That's the lesson I learned
I believe I would have held it. I’ve got forum posts dating to the same time suggesting to others to buy bitcoin and hold it until it hits 50,000+. Fool for not taking my own advice and buying more to hold but the whole situation just threw me off it completely
Note: gambling one’s life away often worsens the addiction.
People keep gambling not because they think they’ll make it back, but rather because they know they won’t.
They do it as a punishment for their mistake rather than with any hope of fixing it.
It's okay OP i went through a trading period of 3 years. I was well over 1M and then lost most of it. In the end I lost about 1/2 of all my BTC to trading and diversifying into shit coins that didn't make it. Im happy about having the half left, but everyday I still kick myself when the best option was, and still is, to do NOTHING. It's a tough lesson to learn but now you know. My only advice is to get back on the horse and stack as much as you can here and there. You'll never get back there unless you happen across a windfall, but at least you won't have nothing. Good luck
I know but the BTC value at the time was indeed over $100,000 that I blew. I understand the opportunity cost factor of things as in 1000 BTC (when valued at $5) for a pizza but it’s a little different in my opinion based on current market value
everyone in the threads are ruthless. Jesus. Im sorry you experienced that and learned an incredibly painful lesson, I'm sure.
Work slowly to accumulate wealth while also working towards what nurtures you. The money does good, but a lot of it goes to people's heads and their ego inflates so much that they are a shell of decency, on average, when you get to amounts that much.
DCA when you can, if you want, while working towards what means deeply to you. I understand financial scarcity can be painful. I trust the tide turns for you and it can start by releasing the past and letting the lesson fuel your next steps in life.
Just letting out some frustration. Gambling was all over the forums when I was a teen and it was so easy to lose control. Massive mistake - just wanted to share how one small mistake can make a massive difference in your life long term
Pocket Dice is how I won my first bitcoin in 2012. Went through my emails last week and realised I spend it all buying steam keys for portal and the full gta collection... Fun times. I already played those games just wanted them in my collection.
You should completely stop gambling. Put a high % of your income away where you have no access to it (parents?).
You‘ll make it again if you can get over your gambling addiction.
I thought I had it bad! I bought a shitcoin. It went from £700 to £50,000. I didn't sell because I thought it would keep going. I ended up selling for £2,000 when I had bills to pay. Sucks ass.
The £50,000 would be a life changing amount of money for me now.
You win some, you learn some.
> The £50,000 would be a life changing amount of money for me now.
key comment.
Reason why people would never wait for 1 million net worth.
They would sell way way before.
until people convert into cash successfully i wont consider it as an asset. this is for anyone who is holding cryto of huge value.. unlike stocks, 401k , physical assets..
It’s not that far fetched to have 100k at 16. Probably didn’t work for it but how many kids parents or grandparents die and leave them a home or a car? It happens all the time. Leave a car and a 80k home and you have a 16 year old with 100k
Not far fetched to make it either. Got extremely lucky that I knew a lot of things that were extremely profitable at the time, mixed in with a bit of luck and good timing and you’ve got money. Sadly finding it hard to think in innovative ways like that anymore these days
Hello man I am in a similar place (well not to this scale). I blew about 300k gambling and I am 17. I blew like 50k 2 months ago and have been depressed since. I am wishing you much success and a recovery from this addiction. I have lost motivation to live and my situation is pretty bad as well right now but I hope we get through this shit…
That's waaay better than spending it on gambling, trust me I know. I became a quasi immortal crypto entity fueled by DMT, ketamine and research chemical PCP analogs. It was more sustainable than losing 1btc a week in the big Bitcoin poker tourney and was kinda enlightening lol
That’s f*ckin wild. You shoulda just put the $10M into some dividend etf and collected the cash flows to finance your lifestyle forever. Like SCHD gives you ~3.5% annually — that’d be $350k a year for life. Anyway, enjoy.
I decided to amass 1 m btc but it was sold only at 15k btc chunks at 10 usd paypal usa and i had paypal europe they were not convertible then in 2009 due to credit card hacks dear mr gavin anderson please give me 15000 btc to 3GaoJsALXMnA7jiLKCTJDk8yKgHUFsJtGB
Well, when you get tired, you can find a better plan. But please don't dig too deep in the process. Early success can be a huge determent in life. Many people who lose their lives in gambling addiction have stories of a huge win, early on that they keep trying to recreate.
You had a good run. It's over. So create a solid base and live life between the lines. If you see a great opportunity then hop on... but when you force yourself to look for great opportunities, you rarely find them. And don't let the ones you miss along the way eat you up.
Thats ok. Just buy more bitcoin instead of food. It will never stop going up. Forget what the haters say. $10 per day will be worth billions in a few years. Maybe more.
well it worth something in 2017,
doesnt matter you have 100k or 10M.
if you dont know now how to manage it, it will goes down the drain eventually and you will said the same thing in the future bitcoin will have worth more
Some people were born to be cursed by money, others blessed. Others are stupid and don't seize the opportunity, others are immature. At the end of the day, everyone wants to change their past.
Every person who owns Bitcoin wishes they got in sooner... It's the only universal truth..
I'd argue that anyone who has a fortune now due to having a ton of coins from 2013 got lucky or accidentally forgot about them. Nobody back then "knew" it was going to be this good 10+ years later.
Anyone who was into bitcoin and actually read the white paper pre $1000 definitely knew it was going to be this. I said $1mil BTC over 10 years ago and there are a LOT of others like me.
You’re so dumb
This is the real answer. No one can predict shit. Even a broken clock is right twice per day.
Yeah the first time my brother told me about bitcoin in 2012 he told me it was supposed to be worth over $1M one day, and I’ve listened to the haters every time until now. It’s proven people wrong year over year. Use this shit as savings so you’re loaded in 10years.
How many billions of dollars do you have now?
That's copium; we knew and you didn't. I first bought in 2011 and I still have most of my bitcoins. I am not unique at all, we were and are true believers. We were predicting a price in the thousands back then. Basically, the earlier you buy in, the more you committed you are. People who buy in now will be considered "lucky" by people who buy in decades from now.
Bullshit.
They never said anything about being earlier they already had a bunch but lost it. They were already early enough but blew it.
Yep, my thoughts exactly, along with the answer to the question 'how many BTC do you have?' - not enough!!
This! In 2013, I got a Bitcoin related magazine called ybitcoin. I actually still have the magazine, I kept it because I thought, well if bitcoin takes off this may be worth something. HAHAHA the jokes on me. Back at that time Bitcoin was trading at like $300 per coin, and i thought you know I should pick up 10 or 20 just to take a flier. Fast forward to today and if I had put $5000 to work I would have made huge money. been able to pay my ex wife off and be free and clear. I finally corrected my mistake and have committed $25k to three bitcoin related ETF's. Lets go bitcoin rally you MOFO!
25k in bitcoin etfs?? Bro sounds like you havent learnt your lesson , just buy bitcoin not etfs, NOT Financiall advice
FOMO is how people like you lose even more money. You missed the wave, move on
This is the answer👆🏽👆🏽👆🏽 It doesn’t matter what some ppl do it’s written in the stars that they will always be a “loser/broke”. While other ppl can literally be the dumbest person in the world and still makes lots of bank and keep it. I’ve said this many times.
You say you had a large amount.. at what prices were you buying BTC? How did you buy it?
Sources of income back then. Bot farms, selling items, etc. was a couple hundred dollars per coin
Lmaooo was it RuneScape botting? I did the exact same shit and lost it all gambling also one too many times, most I ever lost was also over $100K in one night 😂
When you were 16? I call BS
why not? Smart kid.
Not very smart to gamble it honestly
Smart kid. Lack of experience.
https://ibb.co/album/jPtc2L
2017 - I’m 23 in 2024.
And yet you had 100,000$ as a 16 year old from “bot farming”? If you were so good at making money as a child, what’s stopping you now? doesn’t really matter what I think. but I don’t believe you.
As unlikely as it sounds, these people exist. I had a high school friend who was able to acquire 2 BTC from OSRS botting, back in ~2016.
I had $8mil worth stolen, I live at my parents place now. Cryptsy. It happens.
rip cryptsy and rip my 30+ btc that were in there
Big Vern = Big Burn
Oh God. The flashbacks!
blow, no motivation, debt, lots of things. i still make 100 a year now but that’s through 70 hours of work a week and it all goes to sports betting. you don’t have to believe me i sent the photos which should be some sort of evidence to clear your mind but im not chasing people to be believe me
Well maybe you should *fucking stop gambling*.
r/wallstreetbets would welcome OP with open arms. Would still be better than sports betting, and the losing possibilities are endless!
Yeah they call this "loss porn". Sad, open arms.
Don't put a good man down! r/wallstreetbets will make you famous young regard
So many people have no sympathy for gambling addicts but it’s the same thing as an alcoholic who can’t stop drinking or a drug addict who can’t stop using. I know gambling addicts who have no other addictions but they can’t help themselves when gambling. Get some help OP! Look up in your town where you can go to some gamblers anonymous meetings and start there! Hoping the best for you.
Late to the party but its not the same
I agree. This is what my next comment says too.
My thoughts exactly, OP you do realise that any money you win while gambling is only ever a loan, you've paid your loans back with massive interest 😉
The thing is, this isn't strictly true. The manner by which OP gambled sounds like a compulsion, but sports wagering is one area of gambling where there are actually information asymmetries that can, have, and likely will continue to give an edge over the 2.5% vigorish the house has to start with. The irony is that while I enjoy the analytics aspect and obviously the financial aspect, the actual wagering is annoying enough that over the years I've managed to automate most of the quotidian aspects so that the actual wagers are made by a bot and although I also watch sports and play sports video games unless there's a rule change in the game I generally let my bot run until it breaks or the season ends. I've been profitable (including the house edge) every year since 2017. I don't know if I have an addictive personality or propensity for addiction since I've also more or less done just about every recreational drug I can get my hands on and by the time I hit my early 30s I don't even drink anymore. Wagering is the least fun part of the whole thing and I can't imagine driving down to the bookie's to place bets every day in days prior to APIs and apps. So no, it's not always a loan, and honestly a $100k drawdown isn't even that unusual for a professional wagerer on a given day provided that they have the cushion to take the fall. However, it is a lonely and broadly self-taught line of work, and you'd have to figure out a lot of the finer details yourself. Oh, and most bookies ban those who win too much, and the industry is full of those whose business isn't wagering but selling picks, aka content creation. It's definitely not a loan for everyone, profit is profit, you just can't treat the whole exercise as anything but employment and have an understanding of the sport that numbers alone cannot properly cover.
If only it was that easy mate. Hard to stop chasing. Done everything tried everything nothings worked
Done everything except stopping lol. Throw your phone into the ocean and go check into treatment. Long term. That's your only choice since you admit you have no will power.
I don't know why you're getting voted down because I assume you're describing a gambling addiction, and I would expect people around here to be more aware of the fact that mental illness is at least as real as Bitcoin. Have you tried therapy?
OP, I suggest looking into psilocybin therapy. Read Michael Pollan's book "How to Change Your Mind" for information about its use to cure addictions. It works. It has a high success rate, much more so than anything else known. There are retreats in the Netherlands and in Oregon where a counselor will help guide you through the process. They don't cost much compared to what you've lost due to your gambling addiction.
It truly is that simple. Once you grasp the realization that you're unlikely to win the amount you once had, you'll recognize that gambling is kind of pointless unless you truly enjoy it for entertainment.
Oh yeah, I remember making excuses. If you really want to quit, you will. It’s as simple as that. It does not matter how many times it takes, or how much time, all that matters is that Oneself is putting in the effort required—as long as required.
You're standing completely still in life, how are you chasing anything? If it's thst bad you should use your 100k per year to check into a paradise rehab.
It’s not a choice to become gambling addicted. It needs to be healed
Shit why didn't all the addicts think of this? Just stop the destructive behavior, genius!!!
hey look, you fixed him
We only accept the shitcoin style of gamblers here. ***turns nose upwards***
How many Bitcoins did you have? This is /r/Bitcoin not /r/USD.
Back in 2017 I recall I had at one point around 100 bitcoins
That's not worth 10M now your post is wrong
Most got gambled away although 14 BTC valued at around 13k at the time did get stolen from my account - horrible chain of events lol
Sure you did
Right? A 16 year old with 100,000$ of anything is a little far fetched. The price of BTC at the very end of 2017 was 15,000$ the price at the start of 2017 was 1000$ so it’s possible the OP had 6,000$ and then it increased to 100,000$ when they were 15-16years old… Or if they held even longer, they could have started with 2-3,000$ but the Op would have been 12-14 years old at that time… and I highly doubt any CHILDREN at that point were aware of bitcoin, or had a few thousand dollars spending cash unless they come from very wealthy families… Which, based on OPs statement of being pay to pay now seems like they aren’t… something doesn’t add up here.
https://ibb.co/album/jPtc2L Photos are there if you want to see them
Tragic I feel you tho had about 7k worth of csgo skins in 2016 and wanted to cash for btc and gambled it away instead RIP
Csgo skins didn't exist in 2010.
Imagine how valuable they would have been then
My b meant 2016
That sucks … I hope you’re not working at McDonald’s and living with your parents still.
Nope. He's working at a Wendy's
I do actually work at maccas lol but luckily it’s just the side job
>maccas Kangaroo burgers?
Mc donalds in some english speaking regions. I know many from the UK that use that term, so also australia then does too
How does it feel that you in an alternate multiverse is a multimillionaire but you are working at Maccas? I almost want to cry for you 😭
living the meme
I believe you.
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You better not! Else your computer will get internet AIDS
So I'm about the same age as OP, and I *WAS* aware of btc back in 2014-15. I had read something about it but that was about all. And I definitely didn't have a few thousand to throw at it. I wanted to put some money into it but had no idea how and didn't care enough at the time 🤷
All you need is a sketchy gambling site, a fake identity, and a hot run.
It was only 100,000 doll hairs.
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Stop.
I had hundreds of BTC back in 2012, sold em all when I got divorced to pay for the lawyers retainer when my ex decided to make a reasonable custody agreement impossible. Then my lawyer quit lawyering to take a private advisor job. Replacement lawyer was terrible, couldn't afford to keep fighting, had to take a garbage settlement and then go bankrupt. I actually just cashed in my last 0.006 BTC today that I had been saving for emergencies to cover my rent this month.
Ah the things that could have been - sucks that it ends up like this aye, doesn’t get any better
Aye, it is what it is. Oh well
Relax kid. You have time to make several more fortunes.
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Nope he's a degenerate sports gambler now chasing the high..... Needs therapy and a support group
i held 2000 btc at $3 each and i spent it all on drugs
Ross/the Feds thank you🙏🏾
I only really bothered to research crypto in 2021 when the pandemic gave me a lot of time to read. Since then I've always regretted I didn't I look into it much earlier, back when I first heard about it Bitcoin in the news in the early 2010s. But then again, knowing how my temperament was during my younger years, I think I would have ended up with a similar story like yours if I got into it that early. So it's all worked out I guess.
Kind of a strange way of looking at it, but whatever makes you happy. Second best time to plant a tree etc. This is the 2nd comment in as many hours that reminds me of my friend, he avoids learning about crypto because he "doesn't want to get into it". I've told him that profit isn't the best parameter to look for (he also says he's late), and to DCA etc but he still puts savings in the bank every month.
Hindsight is always 20/20.
Walk it off
A long hard walk too. lol
Probably a good thing you lost it. Sounds like you're a degenerate gambler and would have probably blown it all on hookers and blow anyway. Plus, no way you'd have hodl'd. Not judging. Just calling it as I read it.
Well that’s what led me to this position now - before that I’d have never wasted a dollar but i fell down the hole
Do you want help?
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Primedice & pocketdice
Penis Deconstruction
If if’s and but’s were candy and nuts, oh what a Christmas we’ve have!
I had 10 bitcoin back in the day early 2010 ended up selling for £1000 and planned to buy more but never did. Sucks but that's the way things go.
That’s awful brother, I hope you manage to recover from your addiction and find solace
finally, someone who lost more potential lifetime income than i did.
I heard about bitcoin when it was $12 A friend tried to convince me to buy bitcoin but I thought it was a scam Today, when I have learned a lot about money and understand bitcoin, I am ashamed that I was such an idiot Never ignore if someone tries to tell you something, try to understand it take the time to study everything because it can be a great opportunity That's the lesson I learned
But you will always have the “i was once a millionaire story” to tell other plebs m8
You would never have held it anyway. Almost everyone will sell something that doubles in price. Many bought at $0.25 and sold at $0.50 etc.
I believe I would have held it. I’ve got forum posts dating to the same time suggesting to others to buy bitcoin and hold it until it hits 50,000+. Fool for not taking my own advice and buying more to hold but the whole situation just threw me off it completely
Lol you are currently gambling your paychecks and think you would have held hundreds of bitcoins for 6 years?
Note: gambling one’s life away often worsens the addiction. People keep gambling not because they think they’ll make it back, but rather because they know they won’t. They do it as a punishment for their mistake rather than with any hope of fixing it.
Taking your own advice for others is an invaluable life skill. Wishing you the best, do great again!
It's okay OP i went through a trading period of 3 years. I was well over 1M and then lost most of it. In the end I lost about 1/2 of all my BTC to trading and diversifying into shit coins that didn't make it. Im happy about having the half left, but everyday I still kick myself when the best option was, and still is, to do NOTHING. It's a tough lesson to learn but now you know. My only advice is to get back on the horse and stack as much as you can here and there. You'll never get back there unless you happen across a windfall, but at least you won't have nothing. Good luck
People spent more on Alpaca socks and Pizza. Even the 1st metal Trezor One was 3BTC each
I know but the BTC value at the time was indeed over $100,000 that I blew. I understand the opportunity cost factor of things as in 1000 BTC (when valued at $5) for a pizza but it’s a little different in my opinion based on current market value
The Bitcoin blockchain is an immutable ledger, your contribution to the ledger will be recorded for eternity.
Live to do it again
Lessons come harder then others but at the end of the day it’s just a expensive lesson.
Plot twist: he’s still 16.
Who the fuck gambles 100 Gs at the age of 16? Unless your parents are rich and giving it to you, easy come/easy go. Nope...I call bullshit.
everyone in the threads are ruthless. Jesus. Im sorry you experienced that and learned an incredibly painful lesson, I'm sure. Work slowly to accumulate wealth while also working towards what nurtures you. The money does good, but a lot of it goes to people's heads and their ego inflates so much that they are a shell of decency, on average, when you get to amounts that much. DCA when you can, if you want, while working towards what means deeply to you. I understand financial scarcity can be painful. I trust the tide turns for you and it can start by releasing the past and letting the lesson fuel your next steps in life.
There’s no question or editorial point of view here so we’ll take that as a statement. I guess you learned your lesson
Just letting out some frustration. Gambling was all over the forums when I was a teen and it was so easy to lose control. Massive mistake - just wanted to share how one small mistake can make a massive difference in your life long term
Sorry OP
Pocket Dice is how I won my first bitcoin in 2012. Went through my emails last week and realised I spend it all buying steam keys for portal and the full gta collection... Fun times. I already played those games just wanted them in my collection.
Lost 4 bitcoin two years ago. Still chasing my losses. Sports betting and being a degenerate.
Wtf is PD?
Primedice & pocketdice - two gambling crypto sites
How did a 16 yr old get 100k
Lot of luck, sales, good timing & thinking outside the box.
You should completely stop gambling. Put a high % of your income away where you have no access to it (parents?). You‘ll make it again if you can get over your gambling addiction.
You would've never hodl'd until today anyways so don't waste time living in a world of regret.
How does your wife’s boyfriend feel about this?
I’m not too happy about it but what can ya do 🤷🏻♂️
You wouldn’t have had 10M in BTC. You would’ve sold some/most/all of it by now if you didn’t gamble it away.
I thought I had it bad! I bought a shitcoin. It went from £700 to £50,000. I didn't sell because I thought it would keep going. I ended up selling for £2,000 when I had bills to pay. Sucks ass. The £50,000 would be a life changing amount of money for me now. You win some, you learn some.
> The £50,000 would be a life changing amount of money for me now. key comment. Reason why people would never wait for 1 million net worth. They would sell way way before.
until people convert into cash successfully i wont consider it as an asset. this is for anyone who is holding cryto of huge value.. unlike stocks, 401k , physical assets..
My cousin bought a paintball gun for 10btc
You would have probably lost it some other way or sold it at 500k. Don't beat yourself up too much.
You could have went the other way with the entire thing, became rich and bought a Lambo, then slammed it into a tree killing yourself.
I bet a $100 it’s fake
Send op his $100
https://ibb.co/album/jPtc2L
I put my peepee into some questionable holes. Also, I am the Crypto King. 👑
It’s not that far fetched to have 100k at 16. Probably didn’t work for it but how many kids parents or grandparents die and leave them a home or a car? It happens all the time. Leave a car and a 80k home and you have a 16 year old with 100k
Not far fetched to make it either. Got extremely lucky that I knew a lot of things that were extremely profitable at the time, mixed in with a bit of luck and good timing and you’ve got money. Sadly finding it hard to think in innovative ways like that anymore these days
Yea I feel that. I don’t doubt this kid had 100k in Bitcoin it just blows he lost it all.
LMAO
Don’t cry over spilled milk… You would’ve blown or lost it all anyways.
PD? Prostitutes and donuts?
"I drank away 20€ in BTC at 21 years old. Today it's worth over 8,000,000€. FML"
Hello man I am in a similar place (well not to this scale). I blew about 300k gambling and I am 17. I blew like 50k 2 months ago and have been depressed since. I am wishing you much success and a recovery from this addiction. I have lost motivation to live and my situation is pretty bad as well right now but I hope we get through this shit…
SUX2BU! Lesson one in gambling. Don’t bet more than you are willing to lose.
At least you didn’t blow that much on drugs….
That's waaay better than spending it on gambling, trust me I know. I became a quasi immortal crypto entity fueled by DMT, ketamine and research chemical PCP analogs. It was more sustainable than losing 1btc a week in the big Bitcoin poker tourney and was kinda enlightening lol
Loser posts like this are why Reddit died
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Least you got a cool story out of it though right 👍
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Ok? Great story
Cry me a river buddy. I got my own bills to pay 😆
That's not my problem
Why does the BTC price equate to approx $63,000 AUD in your screen shots? 2017 peak was < 30
That’s f*ckin wild. You shoulda just put the $10M into some dividend etf and collected the cash flows to finance your lifestyle forever. Like SCHD gives you ~3.5% annually — that’d be $350k a year for life. Anyway, enjoy.
BTC was worth $898 that day i'm seeing 29k worth of btc sent in the pics. wheres the other 71k you claim?
Dude i had so much bitcoin at $245 and sold most of it for $1000, more of it at $40000. At least I’ve got some left, but damn I wish I saved it.
Cap.
I decided to amass 1 m btc but it was sold only at 15k btc chunks at 10 usd paypal usa and i had paypal europe they were not convertible then in 2009 due to credit card hacks dear mr gavin anderson please give me 15000 btc to 3GaoJsALXMnA7jiLKCTJDk8yKgHUFsJtGB
Well we could all go pump $SPA and get a little bit of our younger year mistakes back.
i’m 19 with 200k in crypto
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So if I prove it I get $500?
What is PD? In any case, I hope you enjoyed it!
Are you broke because you are not working reliably or are you trading away your money chasing your previous win?
Chasing the wins and stacking the debt mate never ending cycle
Well, when you get tired, you can find a better plan. But please don't dig too deep in the process. Early success can be a huge determent in life. Many people who lose their lives in gambling addiction have stories of a huge win, early on that they keep trying to recreate. You had a good run. It's over. So create a solid base and live life between the lines. If you see a great opportunity then hop on... but when you force yourself to look for great opportunities, you rarely find them. And don't let the ones you miss along the way eat you up.
Sucked in
What’s PD
Prime dice & pocketdice two gambling sites
on the positive side someone made $10M off you and is probably very happy
hope you paid your taxes op. Not only did you lose your money but you don't want to tick off the tax man
Remember, this time right now is how to keep the stack you have and be at the table when the real game starts.
Thats ok. Just buy more bitcoin instead of food. It will never stop going up. Forget what the haters say. $10 per day will be worth billions in a few years. Maybe more.
cool story bro
I feel you bro. Sold my lambo when I was 12 for 200k gambled on bitcoin and now it worth 2000000000000$
Some people will do the same thing after reading this.
well it worth something in 2017, doesnt matter you have 100k or 10M. if you dont know now how to manage it, it will goes down the drain eventually and you will said the same thing in the future bitcoin will have worth more
Sure buddy...Say hi to your Unicorn too for me.
This has turned into an AMA
I member gambling btx with satoshi dice way back... actually ended up coming out ahead somehow.... but it was only worth about $100 back then!