Finding the one coin to make me a fortune (spoiler alert - not)

in cryptocurrency •  2 years ago 

Part 3 of my article on how I started with cryptocurrencies

Part 1 here

Part 2 here


After my "fun" times with PUMP Groups I started to look for solid coins to invest in. At the time, the biggest thing was anonymity. Everyone predicted that the coin that would have a working technology that could effectively make any transactions including their amount anonymous would strike gold. The reason behind that prediction was that criminals would use that currency on the darknet and illegal websites like the infamous Silkroad.

And I found just the one and was there mining it on day one. Its biggest competitors were CloackCoin and DarkCoin (nowadays Dash) but mine was still under the radar. That was the first time I started doing research, like reading and trying to understand the whitepaper, developers and the enthusiasm of the community. And I was sure I had a winner. The name of the coin was SuperCoin

I was so sure of it's success that I kept mining it and traded all my BTC for it. I was betting on a single horse. There was a pump and I could have made a lot from it but I refused to sell. No no no, this was THE COIN, it was going to the MOON.

After that one PUMP, there came a DUMP. The community got toxic, the developer left and I was left with a bunch of worthless coins that were still worth somewhere around 1 BTC. And I was a whale for the first time in my life, I held more than 5% of the supply. 

That one stupid mistake pushed me out of crypto for a long, long time. I kept checking about once a month, what the price was, but it wasn't moving, in fact the coin got delisted from almost all exchanges and removed from coinmarketcap several times.

In May I checked the prices of the crypto market after several months and was completely blown away. I missed again. I knew that crypto is the place I need to be and I've taken a different approach this time. I educated myself about the blockchain, kept reading everything I could find about crypto, started following prices daily, joined several forums and Telegram Groups. And finally re-entered the market again!

P.S.

I did manage to sell my SuperCoin stash finally just a couple of weeks ago, I have no idea who was buying or why but I could finally finish this SUPER tragedy of mine :)

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Good post! I'm going to follow you to see more post like this and for support us!

Hang in...tough lesson...riding one horse is like flipping a coin...heads or tails...I'm sure you believed in your research...just shows this market has no mercy...we are all chasing the dream...I learned hard way in stock market...chased high yield energy stocks for years...oil hit $150 a barrel...life looked great...who knew...$30 oil? No way...worse....as the stocks started to tumble...I doubled down...had to prove I was smart...I wasn't...lost a bundle...mourned for a while...and moved on...now crypto world...as tempting as it is to go "all in" on a coin or coins...I've learned....spread it out...spend time on blogs...newsletters...stay in tune...place your bets...do not over extend...sell some off if a rise...have a plan...and while its hard watching one sky rocket wishing you had put more on it...I'm reminded daily...this stuff could just as easily all disappear tomorrow...good luck with your future investing.

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I'm feel sorry for you...