Hi again! As I said in my introduction post I like to speculate in cryptocurrencies. The first time I got into the world of cryptocurrencies I was 16 years old, this was either late 2010 or early 2011. I can't remember how I found it but I started mining it and well, it was easy. I got myself a few coins (about 100 or 200) and then I had a discussion with one of my cousins who said it was illegal and that I shouldn't be into this currency because I would get busted.
Stupid I was, I listened to my 10 year older cousin. I quit mining and bought gold for WoW with the coins, for all of it except for 10 BTC. These 10 BTC's are still on my hard drive that's ruined, completely ruined. I've tried to repair or get the information out of the hard drive but without success. Imagine if I would have had kept mining, forgot about the coins and then been able to retrieve them now. Wow! Instead I'm sitting here, studying Constructional Engineering and trying to earn a few BTC á month.
That was the first part of the story, my first step into this world. The next entrance I did was back in 2013, late November if I remember correctly. A friend of mine told me he was mining and trading with Bitcoin and asked me if I knew what it was, I told him calmly that I knew about crypto's and that I have like 10 BTC on my hard drive, the shock on his face when I told him was priceless. I guess the shock in my face was priceless too when he told me about the price of each Bitcoin a few moments later. Then I started thinking and I remembered how many I actually had a few years back, trust me, I felt sick.
He asked me if I wanted to start again and I said "Yes but I don't have any money to invest at the moment", as the good friend he was he lend me 0.15 BTC about a week later (19Pxc1xYjihTK1iDuZT878ihiSv6ZauNvE check the first transaction if you'd like).
It took me only about a week until I earned my first Bitcoin and could pay him back, I think I was using Bter and Cryptsy back then for trading. My other cousin got interested and I lend him 0.15 BTC after that. I'll get back to that part later!
The first alt coin I ever invested in to hold was Lottocoin.
Anyone here that remembers Lottocoin?
I can't remember much of the investment but I don't think I profit a lot from that one. After that failure I jumped onto a few others, Mooncoin was one of them.
I held about 1 BTC worth of Mooncoin for 1 month. Then I sold off to buy some Klondike Coin (which I later became Community Leader at).
I sold my Mooncoin where the arrow is at 5 satoshis each. As you can see, just a few days later they were up at almost 35 satoshis each. This was the first big mistake I and my cousin did.
Actually, we didn't get sad. We just laughed, I mean it's so typical. You hold something for over a month and a day after it gets pumped by 700%.
Then we started mining Mintcoin, we were actually profiting good on this coin. I think we got maybe a 600% profit give or take.
We were both mining and investing, this was a nice coin for us.
After this we saw a coin called Blackcoin, oh wow did it look amazing. We invested heavily in renting rigs plus we used all of our own. Let's say we invested 1BTC and we got 100.000 Blackcoin each from mining!
But boy did we fuck up again... We sold them off at the first pump, bought another coin we were going to hold. The price of that started declining while Blackcoin went up. We sold at 20% loss and bought about 15.000 Blackcoin each at 16k satoshis each which was 200% of the price we sold them for.
We held them for two days and sold them at about 80k satoshis each. We just profit almost 10 BTC each!
This is where things took a turn, I will not tell you what happened right now but we gave up mining and pulled out. I had to focus more on my studies among other things.
But now I'm back. I've been back for 10 days or so and I've found myself a currency I can see similarities with Blackcoin in. Hopefully I'm here to stay this time!
Thank you for reading and take care!
Sincerely, Sparkit.