Handling the feeling
of regret The first and biggest lesson to be learned from cryptocurrencies and Bitcoin in particular, is handling with the feeling of regret. If you are interested in cryptocurrencies, you probably heard about the guy that bought two pizzas in 2010 for 10,000 Bitcoin. Currently 10,000 Bitcoin is worth almost 100$ million, but at its all-time high, it was worth nearly 200$ million. The transaction that was made 8 years ago, was one of the first ever transactions made with cryptocurrencies and it showed the community that it is possible to make transactions with cryptocurrencies. The early Bitcoin developer potentially lost a lot of money or at least he left it on the table, but the guy made an unprecedented first move, broke the norms and turned into a living legend. The Reddit user SuperDuperDerp shared his story in a sub-thread adding to the countless stories about regret. He said: “I first got into Bitcoin in 2012. At the time one Bitcoin was worth 4$. I was hooked immediately and was certain that Bitcoin was going to be huge one day. Unfortunately, I also didn’t have money at the time and the most I could afford to buy was 400$ worth of Bitcoin which was 100BTC. The price didn’t move much, so I stopped checking it after some time. A month later I came back to see what is happening and the price had doubled to 8$ per Bitcoin. Surprised at the growth and thinking it is too soon for BTC to take off, I sold my 100 Bitcoin for 800$ thinking about buying in again when the price drops. It never did and I watched it climbing and climbing until I finally decided to buy in again at 100$ per coin, buying 8 Bitcoins with 800$. I let the feelings get the best of me and panic sold left and right. I like to believe that If I was financially stable at the time, I would have bought a lot of Bitcoin for the long term and wouldn’t be so quick to sell. But who knows? It takes money to make money!”
