Will you enjoy hearing the story of my top 10 mistakes buying, selling, trading, and investing in cryptocurrencies online like Bitcoin, Ethereum, Dash, and Steem using Coinbase, Poloniex, Bittrex, Bitstamp, Bitfinex, and Shapeshift? After making all these mistakes, would you like to know what I think is the best investment opportunity for today May 28, 2017? Find out at http://u.jerrybanfield.com/courses/allincrypto. Here is a summary of my mistakes in order from least costly to most expensive.
Trading USD to BTC on Bitstamp which cost me about $1,000.
Using personal loans to trade bitcoin costing about $3,000 in interest and losses.
Speculating on Bitcoin with client funds costing me about $5,000 in losses of the client's money which I recovered by selling my company website just in time to then spend the money for the client's campaign.
Making a dash budget proposal with no connections costing thousands in proposal fees and thousands more from failed proposals which might have passed if I had taken a few minutes to hang out in slack and make preproposals first.
Buying PIVX and Steem too Fast! In my excitement to get involved with Steem and PIVX, I bought high and then sold low on PIVX losing me some money while mostly missing out on a 40% off sale for Steem. In total, I would have got about $15,000 more worth of Steem with patience.
Selling Altcoins on Poloniex! In December 2016 I had 6 or 8 BTC of altcoins on Poloniex many of which went up 10 to 100 times. If I would have just held them and used other money to buy my Dash masternode, I would have made at least $25,000 more by following my own advice on not trading.
Selling 60 Bitcoin for $1750 each! After selling my Dash masternode, I was afraid to take any risk and unloaded all of my Bitcoin at $1750. It went up as high as $2,500 just days later which led me to miss out on about $50,000 just to have a little bit of faith and hold for a few days.
Selling 30 Bitcoin for $205 each! When the Bitcoin price was tumbling in 2015, I was certain at $170 it would never be that low again. Using every dollar I could get my hands on, I bought 30 Bitcoin mostly from $200 and below. With my personal debt piling up on me, I was in such a hurry to make a gain I sold everything for $205 each. Holding that two years would have produced a gain of about $130,000 meanwhile I would have done fine without the $5,000 or so I initially invested to buy it.
The second biggest mistake I have made was promoting dash, saying I would hold it, and selling instead. I unloaded by Dash on mostly Bitfinex at about $85 per Dash only to see the price nearly double just a couple weeks later. Meanwhile, I promoted Dash everywhere encouraging hundreds of thousands of people around the world to consider investing in Dash through Facebook ads and videos on YouTube. I PUMPED Dash up and then proceeded to DUMP it after I got my profit. While I made a healthy profit of $60,000+ over my initial investment and have money to reinvest because of it, how much in addition to the value of the Dash did I lose in being inconsistent and "scummy" as one YouTuber quoted? How many faithful followers did I lose in being so easy to change my mind?
What is the number one mistake I have made with cryptocurrencies online? By far the #1 mistake has been not following my own advice and thinking I was smarter than everyone else. If I took all the advice I gave in my videos, I probably would still have my Dash masternode, a huge portfolio of altcoins, and enough money to have invested some in the cryptocurrencies I am most excited about today albeit significantly less. If you total all of these mistakes up, the cost is at least $400,000 in cash I do not have today, missed opportunities, and assets worth less than had I been perfect.
My hope is that in honestly sharing my mistakes that I am acknowledging my imperfections and practicing honesty here today with you in being accountable in the differences between what I have said and what I have done. I hope if you have watched most of my cryptocurrency videos you have taken what you needed out of them and left the rest for me to learn the hard way on! In sharing these mistakes with you here, I hope to continue having the courage to keep investing and helping the global cryptocurrency community grow while making a few less mistakes than I have made so far. Thank you for giving me the chance to be of service to you today and I welcome any questions you have! During the live video, you are welcome to make comments and I will try to answer as many as possible after I go through the initial presentation. If you have comments after the video has finished being live, would you please sign up at https://steemit.com/@jerrybanfield and comment on one of my posts there because I currently am able to read and respond to most every comment on Steemit!