In 2013 I first came in contact with a new technology. A technology that I didn’t really understand but I was interested in.
I’m talking about Bitcoin. Although 11 years have passed since its creation, even today the number of people that has even heard the word Bitcoin all over the world remains small.
And the percentage that holds even a little bit of money in bitcoin is even lower.
Bitcoin was created in 2009 by one or more creators under the pseudonym Satoshi Nakamoto.
I won’t go into details about what it is and how it started but you can get started by reading some info about it HERE
On April 21, 2013, I opened an account for the first time on a platform called Mt.Gox in order to buy some Bitcoin.
Mt.Gox was the largest exchange platform at the time. On June 4, I made my first deposit of 500€. That day the price was around 120$ for every 1 Bitcoin. Just a few days earlier I had missed the opportunity once and for all to buy Bitcoin even under 10$
On February 18, 2014, I made my 2nd deposit worth 1,600€. At the time, the price was around 500$, having made a high of 1,160$ at the end of November 2013.
Seeing the price drop I considered it a good opportunity to buy some more so a week later I made my last deposit on February 24 worth 1,500€
The last deposit did not even make it to Japan, where the company’s headquarters were located, as only a few hours later I could no longer access the platform.
Mt.Gox had just announced that it had been hacked, which resulted in the loss of many bitcoins from the platform, and immediately stopped any transaction on all its users.
Although I made a refund claim of my last deposit to my bank in the hope that it would be returned to my account at least the last 1,500€ unfortunately nothing was ever returned from the bank.
If in those days I could use my last deposit I would have a total of about 25 whole coins. In the meantime, even before the system collapsed, I had managed to increase the number of bitcoins, hence the 25 coins, with small purchases and sales due to the price increase.
At that time, at a young age of 25 and since I was also involved in other projects, I did not know exactly what bitcoin was.
I liked the idea of decentralized money since Greece was in a big crisis and we all had one way or another hurt, as well as the possibility of profits, due to the big change in price but that’s it.
Nevertheless, I was there for the profits. In the end, we are all about in about profits, but the difference is that I did not know its true value and at the same time I did not look for ways to protect myself from possible losses of my coins. And so all this time I left them on the platform. And with me a few thousand more users around the world.
What I regretted most of all was that I was so annoyed with this development that I decided not to deal with bitcoin again.
If I had it on my radar and started reading and studying the developments around technology, now I would literally be a millionaire. And I say that because despite the loss of 3,600€, I would be more active in investing in bitcoin with the good liquidity I got from gloholiday.
At the end of 2015, its price ranged at about 450$. With 25,000€ (30,000#) at the time, I could have bought 66 Bitcoin instead of a small Cafe, which would be worth more than 1,000,000$ just 2 years later.
In addition, in the meantime until the sale of gloholiday, I would be buying small amounts each month.
But I didn’t. And that’s because I was frustrated with bitcoin, I didn’t give myself a chance to find out what it really is and turned my focus elsewhere.
And that’s how we get to 2017…
In the summer of 2017 and while I was struggling to make my cafe work, articles about the price of bitcoin began to appear more and more often on my cell phone.
While at first I was unaware of them, after a while I saw that many of my friends and acquaintances started commenting or asking me about it.
And that’s when I started paying attention.
I decided to get back into the game and chose to use Etoro as a platform.
I signed up on the platform on December 13, 2017. A few days later on December 17, Bitcoin reached its all time high at 20,155$.