Giving up on Mt. Gox.
After I lost 104 Bitcoins in the Mt. Gox disaster, I followed the instructions of the Japanese lawyers dealing with the bankruptcy: I gave them my email address and my mailing address, and I opened an account on the crypto exchange where some of my Bitcoins would be transferred if they could find any.
As nothing happened for several years, I became convinced I would not get anything back. I made my peace with it.
2016: New Investments in Cryptos.
In 2014, I started following a financial newsletter from the Palm Beach Research Group to help me with my stock market investments. I have never been really good in this area.
In October 2016, one of the writers of Palm Beach, Teeka Tiwari, started to recommend some crypto assets: Steem, Antshares, and DASH.
I bought 10,000 Antshares at US$0.07 each, spending only $700. Later, Antshares changed its name and became NEO, and its price went up to US$120, which is more than 1,700 times what I have paid for my 10,000 Antshares.
I don't remember how many DASHs I bought, but what I was mostly interested in was Steem.
I had tried to blog on another platform; but it was not easy for me to write, so it did not last long. I thought that blogging on Steemit, where you expect to get some cryptos from your posts would incite me to post regularly.
Between November 2016 and March 2017, I bought more than 120,000 Steems, spending around CAD$22,000.
Sometime in 2017, I sold some cryptos to get back all the money I had spent.
2018: Buying an Apartment with Help from Cryptos.
At the beginning of 2018, I sold some of my 10,000 NEO and got more than CAD$100,000. It has helped us to buy a nice apartment where we are now living: my Crypto-Condo.
Over the years, I bought different cryptos, following the recommendations of Teek Tiwary. Some went nowhere, but some were quite successful, for example BNB, originally called Binance Coin.
2021: Selling some of my Crypto Assets.
In 2021, as the total of my crypto assets was greater than CAD$1.5 million, I converted the equivalent of CAD$500,000 of cryptos to Bitcoins. I gave half of these Bitcoins to my 4 children and 5 grandchildren.
And I got around CAD$250,000 for myself.
Continue to Part 3
-- Vincent Celier
Posted Using InLeo Alpha
Hey Vincent. Good to see you around again! Hope everything is great in Canada... must be with all those Bitcoins.
The girls are still remembering you - The big one (@scarlet-rain) has just started her third year on computer science. A big hallo from all of us.
Hey, Katharsisdrill.
Indeed, Hope is in Canada, in British Columbia, where the first Rambo film was shot. 😀
And I am remembering them, and your wife too, of course. Say hello to them from me.
I will :)
Damn ... back from 2013 :)
Great moves on selling some, buying apartment, and gifitng to your kids and children.
I have entered in 2017, and I feel like it has been forever... can imagine how it is for you.
Thank you.
I think I have been lucky these last 10 years.
Greetings @vcelier ,
What a journey....I so appreciate hearing your story....and your attitude.
102 Bitcoins is loads to lose...do hope that will be forthcoming...just amazing!
Thank you for bringing your lovely story to Hive. ^__^
Kind Regards,
Bleujay
In the spring of 2011, I was trading the stock market and saved $2,000 to buy bitcoins. But after Bitcoin fell sharply from about $30 to $10, I abandoned this idea. Now I’m thinking about how I would have used these bitcoins if I had bought them then. I would probably sell most of it. If only they weren't stuck on Mt Gox :)
Yes, you probably would have sold most of them, probably in November 2013 when Bitcoin was worth $1,000.
Wow...I knew you were early in the game but that early...Nice
Good to see that it brought so many people in the family a lot of good things.
But uhhhh mount gox...Hopefully something is coming back this year to you as well then from it?
You will see what happened in the next episode.
The wise man in crypto is the one who buys the things of his life by selling things on time and making profit. We made a mistake in 2020 21 and our coins are worthless now That mistake we still regret a lot we should have sold things and bought a house but we couldn't but we hope that we will definitely buy another house again in the near future because we made this money with a lot of hard work i remember i am also an old user and for a long time i worked on steemit and then they had a platform steemhunt also worked on it.
The price of BNB was very low when I came to know about it and it was a good project everyone knew but then we didn't have money to invest in it. You have made a good strategy and still when you get profit you will sell things we are waiting for the same.
Buying a Condo through crypto is the best move and you did it at the right time. I just visited the post and your condo is so good and spacious too. You're the first one I know who has bought a house using crypto. Nice decision
Yes, we are very happy to have bought and renovated this apartment.
BNB was a surprising bonus for me too. Originally I only purchased it for paying off trade fees on Binance. It end up being my most profitable investment. Nowhere near as much as you are claiming, but enough to brag about to anyone claiming all Crypto is a terrible investment.
Any asset class may be a terrible investment for many people, but a good one for some.
With crypto, you need to learn to be patient and sometimes to hodl for years.
Sounds like you been doing things the right way! Guess it makes a big difference having been in crypto since around the same time but not having initial capital to throw at it.
Indeed, I was lucky to be able to buy crypto in 2016-2017 for more than $30K.
A fascinating story this journey of yours into the crypto world! I am looking forward to seeing the sequel. Gains and losses are captivating and exciting. I regret that I ignored crypto in the past. I worked in a bank, didn't believe in cryptocurrency, and feared its volatility. Anyway, I didn't have the resources for major investments, but it would have been interesting even to play at lower values.
Thank you for telling us about your experience.
You were not alone.
Oh, I didn't know that. Anyway, you recovered. Congratulations!
Wow, you were really active in crypto early on. I thought the Mt. Gox experience would make you more cautious of crypto, but it seems it didn't. Getting into a lot of different tokens early and cashing them out at the right time and getting a lot of return is insanely good. Giving some BTC to your children is very nice, and I hope you and them held through the bear market.
I know it was a long time ago but those lost 102 Bitcoins must still provoke some anger given the ATH Bitcoin hit in 2016-2017. How did you manage to reconcile with it in your own mind? I'm pleased to see though that your investment portfolio has been looking very healthy lately. It's like you came back from the Mt. Gox disaster pretty well.
No, I was never angry about this. If I were, it would have been against me to not have seen the problems that Mt. Gox had for several years before its bankruptcy.
You're very understanding and reserved about it all, strikingly so, it's impressive. Good to see you still in the crypto game, as you know nerves of steel and plenty of patience required. Will you be doing more Hive blogging from now on?
Wonderful! You did it right. I lost around 150 BTC in the Bitgrail hack in 2018 but, thankfully, the Italian justice system prevailed and we got a portion of what we lost back years later. It was pennies on the dollar but at least we got something.
You will see what happened to me in the next post.
I love this. Totally crypto success!
Guau, this is a great recuperation on your crypto, I remember steem in 2017 in financial times, and here I am until our days.
I am happy to you for your recovery, and specially for your blessings for shared btc with your family.
Best regard.
Thank you.
Being able to buy a home for crypto is the dream for many. I know some say you have to keep holding, but you want to enjoy the benefits. I have sold some of my earnings here for that. I'll do it again when the price goes up a bit more.
I am waiting for my crypto assets to reach again CAD$1.5 million, then I will do the same operation.
Heck you've had some great fortune hey! Especially with Neo over there! That was absolute!
Yes, the recommendation of buying Antshares/NEO in October 2016 from Teeka Tiwari was excellent for my financial success. This is the main reason I am still following this guy.
I gave him a follow on insta aswell! Might be he can point out a few more coins that can send us to the moon!!
You did well with the influx of cash you got... bought a house and that's not something most people would have done!
Selling some crypto asset and buying something in real-time in massive success, guaranteed, you've invested, but taking profit is always smart move.
Many didn't take profit in 2021
and your kids gets to benefit off that good decision making
Yes, I am happy that I did that.
Your journey has been amazing in crypto and probably because you started too early when a lot of people were not even aware of bitcoin and crypto. Looking forward to the next part of this..
I am sorry to hear that you lost 104 Bitcoins, it was a huge amount of money. Later on you earn a lot of money from NEO which compensates you for some financial loss. You are a rich man
Wow, you seems be a lucky man when it comes to crypto investments ;) sadly i am not like you, i lost a lot of money in it. my 10k $ have become 1000$ atm.
Your crytpo investments really paid off and how joyous you must have been when it did. I wish I was among the earlier ones to cash into the crypto opportunity, even though opportunities abound now I feel the profit potential was higher back then especially with BTC and ETH.
Thanks for sharing this interesting story and have a great day.
Hope you get back something from Mt Gox
@vcelier, you're rewarding 23 replies from this discussion thread.