Did you ever dabble in shitcoins before you became a Bitcoin maxi?
I'm always cringing when I think about the days I considered myself a 'blockchainer'. Probably the most embarrasing thing I did was doing presentations about shitcoins and how blockchain can be used for this and that.
I'm interested in your cringe shitcoin stories. Maybe you bought some, maybe you were scammed, or maybe you've even shilled some?
The more embarrassing the better
Lost numerous SATs on rug pull a year ago. Never again
reply
Hold your keys and you shall not get rugpull anymore 🙏
reply
Started playing around with bitcoin around 2011, and not many years later the first clone came along with pre-minng which I had to learn the hard way! Like some pump&dump projekt called BlackCoin, but still had majority in Bitcoin I where just curious to test new stuff.
In 2016 I went total ape in Ethereum was even running a local Ethereum Meetup which was quite big, and I thought this will change the world to the better, when the ICO craze of 2017 came along, I became more than sceptic about the whole crypto world even bitcoin because the high overflowing mempool I exited 90% of my eth and went to shitcoin fiat.
Early 2019 my conviction for bitcoin came back, and I consolidated all amounts from forks, airdrops and various shitcoins to bitcoin. And since then there is no other than bitcoin.
But it feels everyone needs to go though their share of shitcoining before figure out there is no alternative to bitcoin.
reply
You started dating Bitcoin, cheated on it with blackCoin abandoned it for Ethereum, became a celibate which cleared your mind, made you realize what you and Bitcoin had together, which made you finally settle down with Bitcoin. What a journey... Congrats!
reply
Ahhaa that's a way to see on it. I forgot to mention that I had a verry short romance with cardano also but let's keep it as our secret because I love bitcoin and cannot loose her again.
I began my shitcoiner career mining eth with gpus. As time went on the constant changes to eth mining made me realize that it wasn't so decentralized after all.
reply
Was that also before ethereum classic? or was rhat when it started
reply
After. I began mining in the beginning of the pandemic, despite knowing about bitcoin since almost the first year.
I ended my shitcoinery just before the eip 1559 kicked in. Sold my rigs and bought btc and never looked back.
reply
When I started back in early 2020, I "diversified" between Bitcoin, Ethereum and Cardano. I also flipped a handful of tokens shilled on /biz/, and got that Uniswap airdrop thanks to using Metamask.
I sold my alts for Bitcoin a few months later after doing further research, so I actually missed the bullrun where alts shot up in the BTC trade pairing. But I don't regret that. Had I held, I'd probably have gotten hooked on shitcoining.
reply
We're playing the long game
reply
I held every shitcoin under the sun in 2017. Made a solid 600% profit, but only took out the money I'd invested. Then learned my lesson in the bear market and have been DCA-ing every week into bitcoin since.
Once Bitcoin becomes your unit of account it gets a lot easier, because you only ever see your savings go up. I have always kept some fiat savings in case of urgencies
reply
We had the same teacher... thankfully i abandoned most shitcoins before the crash
reply
honestly, I didn't do badly cause I knew I was only ever trading like I made money on ADA and Solana but all to buy bitcoin. The thing is bitcoin is down also so I don't feel like I won and it was essentially a waste of time to buy other cryptos if the 1000 dollars I made turns to 200 when I buy bitcoin with it at the top, so I just chose to stay in bitcoin now.
reply
Forgive me Satoshis
I have sinned
reply
read the whitepaper 5 times and speak 10 times the Satoshi's prayer, and you shall be absolved of your sins
reply
I was just always looking for a way to get into the programming side, and to do that I needed money cos I couldn't be working at the same time. For me at first there was Steem and then I was GPU mining for a while, landed a task working on a bitcoin fork chain and got the chance to fully build my skills up.
I liked the general idea of the Steem forum but always felt it was compromised by its premine. The micropayments it enabled are now possible with LN so there's really nothing we are waiting for other than protocol designs that link all of the things together and give ways to pay content creators, and by this develop a legitimate ranking.
For me, Bitcoin just was too small a field to be able to enter into working on something related to it. From day 1 I wanted to build something to improve on Tor, and integrate better for protecting Bitcoin transactions, and now, I am!
I was just naive, but I did see the cultish, scammy nonsense going on and always hated Ethereum once I saw what they did with it and how ridiculously over engineered it is, and now, getting chummy with the WEF is beyond the pale. The Merge really has been a watershed dividing the times of somewhat innocent shitcoining to full out brazen pseudo fiatcoining.
reply
Hahah i enjoyed that read, thanks!
reply
For some reason I haven’t. I was considering “diversifying into ethereum” at the beginning but I quickly realized that there is no sense in holding other coins and there is also the fact that everything follows bitcoin.
I did however used shitcoins as tools. Like converting to get dust out of an exchange and also used those shitty crypto.com cards for a while before converting everything back to bitcoin and nopping the hell out of pretty much every KYC service.
reply
Yes if there is an actual service or benefit that a shitcoin provides, i guess there is nothing wrong with using it. Just have to keep in mind that it's all just operated by a 'company' which might or might not rugpull you. Thanks for sharing!
reply
Ah yes the days of using shitcoins. Used them primarily for legacy platforms they mimicked. Easy signups and account creation since a hww was all you needed. Yeah glad I got out before the hacks came in and the yield died. Gpu mining was also profitable until it wasn’t. Everything over there is temporary. Now bitcoin and lightning network are great and every time I get the chance to get cheap sats I’m happy. There are enough services on LN so can’t complain. Plans now are to open a business or 2 that will accept sats and to cut out visa/MasterCard as much as possible. Gl and stay safe everyone. Rug pulls everywhere
reply
That puts it into perspective. Shitcoins are temporary. Bitcoin is forever
reply
Yes, I was and I fell for the "diversify" narrative, thinking they are all tech plays, it might be a cringe part of my history but I don't think i would value my sats as much if i didn't hit my head hard enough
reply
Best way to learn is to get hit.
reply
never. but shitcoins werent really a thing when i started. i wonder if i started later i would be a "shitcoiner"
reply
Truly a blessing.
reply
I was but never again
reply
before proof of stake, I had a 33.333 to 66.666 ratio of eth to BTC. Now it's all BTC.
reply
I'm messin' around with TON
reply
Technically, I still am, have some blackcoins since many years now. I used to collect sats and shitcoins by clicking like crazy on faucets, it was still before the 2017 hype, worth nothing at that time, but eventually I could get rid of the shitcoins for a nice profit :)