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I will never sell again… what I have learned about crypto since 2013 by johnthompson

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· @johnthompson ·
$0.41
I will never sell again… what I have learned about crypto since 2013
# <center>I will never sell again… and what I have learned since 2013</center>

I first got interested in bitcoin and crypto currencies back in 2013. In fact, I was lucky enough to purchase bitcoin on time for under $100. You can see my transactions from CoinBase.
![btcbuy.JPG](https://steemitimages.com/DQmNgw3sNBDtjGxrrLgUJt9sL7pP3Xeqyogyn91Fgc9tkbz/btcbuy.JPG)

My luck of course would not last.. I made the huge mistake of selling @ 273.79. At time, I was ok with it because I made an good profit.
![sellbtc.JPG](https://steemitimages.com/DQmU3DvrpgoS3YQvQifcakp3LJroCvVFiVzHLRupSiUYpBk/sellbtc.JPG)

I had a similar, but much better experience with LiteCoin, I was able to trade some Bitcoin for LiteCoin at a $2 to $3 evaluation.
![buyLTC.JPG](https://steemitimages.com/DQmNwbRMR74TsgdPuQzqhK6uXKLmLENTzdHK6FjFVbRssB8/buyLTC.JPG)

And later sell ¾ of my stash around $40.

![sellLTC.JPG](https://steemitimages.com/DQmU5nj8UCLdek3m7FDnV3cht6DL7cnjM2NmPpVoZ9QBmAa/sellLTC.JPG)

I thought this was an incredible profit at the time. Looking back, it’s far less impressive. And if given the chance, of course I would never have sold anything.

Being sort of a tech nerd, I quickly found myself involved in mining bitcoin. I started with USB ASICMiner Block Erupter USB 330MH. I ran 20 of these on my desk and they worked pretty well. 

![miningusb.jpg](https://steemitimages.com/DQmTv3w6cSEeSuUPFQg46HqfraoAx7UKNB419PhG3n8R7Sh/miningusb.jpg)

Yes, I was using a MAC in a linux/pc world of mining. Made doing everything a little more interesting and complicated. A little later was able to purchase a two Butterfly Labs gear and actually receive them before the FTC stepped in and apparently shut them down. [FTC SHUTS DOWN BUTTERFLY LABS](https://www.theverge.com/2014/9/23/6833047/bitcoin-conspiracy-theorists-vindicated-as-ftc-shuts-down-butterfly-labs)

Those butterflys were cooking, for the time. A then came the bitcoin price crash. I promptly sold everything on ebay, at a loss. This turned out to be a pretty big mistake.
For a brief time, I even convinced my team at Spark Industries, where I work, to accept bitcoin as payment on [VAPAGE](https://vapage.com) . This was too premature and even though coinbase built a nice platform for accepting bitcoin, it seemed none of our customers either had bitcoin or wanted to use them for electronic cigarettes / vape gear. The experiment was eventually scrapped when it was barely used. 

My mistakes continued as I liquefied all my remaining currencies, and then practically forgot about crypto. Except for the lucky swapping of Ehterium classic for ETH, I pulled off after several pestering emails from CoinBase.  Until March of this year, just before bitcoin took off again, I decided to sell one of my few remaining coins for a few bucks and buy Iraqi Deniar. 
biggest bone head move BTC march, when I decided to investing a little in Iraqi Dinar.. Now that is a whole different discussion I may post on at a later date. 

I have learned a lot of valuable lessons:

**One,** it is not possible to pick the winner, no one can see the future, only can make educated guesses on what coin, if any, are going to go up. 

**Two,** what you think is an outrageous price for a coin, may just turn out to have been an awesome deal, for example $515 for bitcoin in November 2013. 

**Three,** diversify. It’s important to diversify, because next week there will be a different coin winning the crypto race. 

**Four,** it’s important to look at the long term. This was impossible for me to do back in 2013, when BTC had only really been around a few years, now I can say definitely crypto currencies are here to stay in some form.

Looking forward, the title is misleading, I will sell someday, but that’s also a different strategy yet to be formed.

I’m very interested in the following, but incomplete list of currencies:
Etherem, Bitcoin, Steem, Ripple, Monero, Zcash, litecoin, tezos and dash.

# <center>Please, comment and let us know what coin’s YOU are investing in and why.</center>


and stay diverse my friends.
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@benjaminh · (edited)
I'm sorry to hear, nobody could see this coming and i know how it feels when you sell too early. The intelligent investor written by the economist brenjaman graham thought me that you should never sell your assets too early for short term rpofits and that's why i will never do it again. 

A couple of project i've invested in are DASH, POLYBIUS, BANCOR, ETHEREUM and UBIQ
edit: also exscudo ( a decentralised exchange with professional trade terminals).
👍  
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@cambocleve ·
Upvoted ! i have been investing in crypto for the last year, i was looking at buying bitcoin when it first boomed but when MtGox collaspsed i decided to stay away. I have now invested in BTC, LTC, ETH as my main positions with less risk  some with smaller holdings in BAT, GOLEM and DASH as more high risk coins. The ones i am looking at investing in next are Digibyte and Zcash
👍  
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@gamerveda ·
No one could have foreseen how big this space would be except for those who really started early as the pioneers. Luckily even as early adopters we will possibly have an opportunity to see some solid gains. As for Digibyte I won't be touching it for a bit. The hype around it during the Citibank competition and subsequent aftermath has been pushing the price further down. I think it holds a ton of potential  but until there is a clear signal for an uptrend I'm staying clear.
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@cowboyinvestor ·
$0.03
i heard similar stories. Ive mentioned the dinar to friends and gave them the history of the mint in england to selling the dinar. The problems lies with the tribes. Now crypto, i had the same issue mining in 2012 and stopped after 3 months, then lost my password. oh well. Now we are here again lesson learned. good luck
👍  ,
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@evoman1 · (edited)
$0.05
I completely agree with every statement here. Cryptocurrency is the future. 
Fiat currency is the past. 

Welcome to STEEMIT as well!
👍  , ,
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@steemitboard ·
Congratulations @johnthompson! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

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@toadslinger ·
Enjoyed your story @ the school of hard knocks. Your story or ones like it are why I made the posts linked below.

https://steemit.com/investing/@toadslinger/improving-investment-profits

https://steemit.com/investing/@toadslinger/improving-investment-profits-pt-2-of-7

https://steemit.com/investing/@toadslinger/improving-investment-profit-pt-3-of-7

https://steemit.com/investing/@toadslinger/improving-investment-profits-pt-4-of-7

https://steemit.com/investing/@toadslinger/improving-investment-profits-pt-5-of-7

https://steemit.com/investing/@toadslinger/improving-investment-profits-pt-6-of-7

https://steemit.com/investing/@toadslinger/improving-investment-profits-pt-7-of-7
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