Returning to the Bitcoin Community After a Long Journey \ stacker news ~bitcoin

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Returning to the Bitcoin Community After a Long Journey

4720 sats \ 47 comments \ @vSats 4 Aug bitcoin_beginners

Hey everyone,

I'm excited to make my first post here on Stacker News! I wanted to share my story of how I got into Bitcoin and what brought me back after all these years.

I first dove into Bitcoin back in 2013. It was an exciting and revolutionary time, and I was thrilled to be part of something so groundbreaking. I had a small stash of Bitcoin and some cash in Mt. Gox, feeling optimistic about the future.

Then, the Mt. Gox hack happened, and like many others, I lost my Bitcoin. It was a tough blow, and the long legal battle that followed made me quite pessimistic about ever recovering my funds. I was out of the Bitcoin community for years, disheartened.

Fast forward to last month, and I finally got my Bitcoin back! It feels like a victory after such a long struggle. Since early this year, I've been catching up on articles, discussions, and news about Bitcoin. I used to follow Bitcoin discussions on Reddit, but recently, I discovered Stacker News.

I must say, I find the discussions here less stressful and more informative. For instance, a recent post encouraged me to re-read Satoshi's white paper, which rekindled my excitement about Bitcoin's potential.

Back in 2013, the community felt small and revolutionary. Now, it seems to have grown, the general community seems to be focusing more on money-making and securing the future. It's fascinating to see how things have evolved.

I'm actually doing my first lightning transaction to post this :) Can't lie that I'm bit excited.

I'm looking forward to engaging with all of you and stacking stats.

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222 sats \ 4 replies \ @Coinsreporter 4 Aug

It's here. The first story from Mt Gox. @siggy47 and @Undisciplined

This must be a great feeling to get what was considered lost.

Did you get back in Bitcoin or in Fiat, the value in Fiat that was lost?

91 sats \ 3 replies \ @vSats OP 4 Aug

Yes it felt surreal... Never thought the day would come... 11 years...

Since only a portion of the lost btc was available to disburse, I got 15% of what was lost in bitcoin. The Fiat was the amount I had on Mt. Gox at that time, plus some extra.

I've only got the btc so far, haven't got the Fiat transferred, like majority of the claimants.

Looking forward to stacks more in this dip...

0 sats \ 2 replies \ @Undisciplined 4 Aug

That's incredible. I'm really excited for you to join the Stacker News community. Most of us have only been involved in Bitcoin for a few years. It'll be really cool to hear your thoughts on everything that's happening.

142 sats \ 1 reply \ @vSats OP 4 Aug

Mind you, I was out of the scene since 2014. Revisited in 2017 to stack some...

So my experience mostly in Mt. Gox claimants community...

100 sats \ 0 replies \ @Undisciplined 4 Aug

Perfect! You're like an unfrozen caveman, a man out of time.

56 sats \ 1 reply \ @DiedOnTitan 4 Aug

Are you a beneficiary of the "forced hodl" cartel? That is, would you have held through 3 cycles had Mt Gox not gone down? I don't expect the truth as a response, but maybe some reflection before answering. Either way, grats and welcome.

0 sats \ 0 replies \ @vSats OP 4 Aug

I've thought about this long and hard this past year.

I found the answer to be, No, I would have held only a small portions. I did that when I bought some in 2017, and I still have them now. It wasn't large or anything.

But yeah, interesting if I remember the hoops I had to go through to move the coins in MultiBit wallet file into electrum last year....

39 sats \ 4 replies \ @suraz 4 Aug

Welcome back to SN family!

60 sats \ 3 replies \ @vSats OP 4 Aug

Thank you... I found out about SN by way of a user, Fab (I think), from a post in Reddit.

0 sats \ 2 replies \ @ek 4 Aug

/cc @Fabs 👀

100 sats \ 1 reply \ @Fabs 4 Aug

Ha! I already had a slight suspicion... Welcome ❗⚡ 🤠

27 sats \ 0 replies \ @vSats OP 4 Aug

Thanks for the post... I'm sure I'm not the only one.

20 sats \ 0 replies \ @plebpoet 4 Aug

glad you're here, it still feels exciting and revolutionary!!

1022 sats \ 4 replies \ @DarthCoin 4 Aug

LOL so from 2013 until now you didn't read or use Bitcoin at all? SUCH A LOSER !

Back in 2013, the community felt small and revolutionary

And you turned your back to that revolution like a coward...

21 sats \ 0 replies \ @0xbitcoiner 4 Aug

This is related to my quote for today at the salon.

https://imgprxy.stacker.news/MoFW_7yN4r1SjrwPDY1pzlNT2_tw-E3IG-cUMoH3SEs/rs:fit:1920:1080/aHR0cHM6Ly9tLnN0YWNrZXIubmV3cy80MzQxOA

26 sats \ 2 replies \ @south_korea_ln 4 Aug

Darth, welcoming as ever :)

334 sats \ 1 reply \ @DarthCoin 4 Aug

You CANNOT turn your back to Bitcoin once you discovered "its revolutionary" aspects (OP's words). Only a coward will do that. I disgace more the cowards than the ignorant normies or haters.

https://i.postimg.cc/WbphR8Bx/truth-arrow.jpg

people without strong focus in life and decision are fucking cowards that will get what they fucking deserve.... like shitcoiners

100 sats \ 0 replies \ @vSats OP 4 Aug

Can't deny that...

I did stack some in 2017, but then again, not really into it until early this year.

31 sats \ 0 replies \ @TNStacker 4 Aug

Welcome OG!

51 sats \ 0 replies \ @TheMorningStar 4 Aug

My story is just like yours! Just omit Mt. Gox and years. It will be the same.

10 sats \ 1 reply \ @IamSINGLE 5 Aug

Your return (Mt Gox returning Sats) has marked all the markets tumble. What a grand reception!

0 sats \ 0 replies \ @vSats OP 5 Aug

Buy the dip, that's what I say...

10 sats \ 0 replies \ @SatsMate 4 Aug

Cheers welcome back! The biggest lesson with Mt.Gox should teach us is to always self custody. Hope you are find the coversations here engaging and thought provoking!

10 sats \ 4 replies \ @ChrisS 4 Aug

Welcome back! I’m curious on your thought process of giving up after mt gox. If you thought bitcoin was a revolutionary technology before mt gox, other than being pissed about losing the money, was there anything else that made you change your mind about bitcoin and what it could be?

0 sats \ 3 replies \ @vSats OP 5 Aug

The hack of Mt. Gox was the trigger, but the amount of btc I had in the exchange wasn't that much. So it was not the whole reason.

I started into buying bitcoin for its ability to move funds without relying on a third party (banking), but of course I need it to be secure. When I found out that Mt. Gox was hacked, I wasn't assured that the btc is secured. So, I moved on to different ways to move my funds. I realize now, I blamed the whole btc ecosystem for a single party mistake, but I guess I was none the wiser.

Does it make sense?

0 sats \ 2 replies \ @ChrisS 5 Aug

When did you realize that bitcoin was the solution to counterparty risks and stop blaming bitcoin for what happened with mt gox? And what was it that helped you eventually reach this conclusion?

150 sats \ 1 reply \ @vSats OP 5 Aug

In 2015, I worked for a bank until 2017 . I realized how fragile it was. People in the banking industry can know so much about you, and your information actually for sale. And not mentioned the normalized/institutionalized scams and frauds happening....

That is when I started to look at bitcoin again, and I left it there. Self custody this time.

Last year, I checked my Multibit Wallet, downloaded the blockchain, and my btc still there, all safe and sound. So I started catching up again. Installed electrum, moved my btc to the new wallet.

And this year when I got my Mt. Gox balance back, I bought a cold storage device and moved 80% of my btc there. I use the 20% as my learning fund, some sats went to LN so I can sign up here and bought my first post.

Tried some DeFi, using Wrapped BTC and Avee, but it's all complicated, so I'm just gonna hold and DCA for now.

0 sats \ 0 replies \ @ChrisS 5 Aug

I'm glad you came around. I hope your story can help others not make the same mistakes.

10 sats \ 2 replies \ @supratic 4 Aug

Welcome back! It's nice to hear your story and that finally you got your sats back. How was for you during this time? What bring you here on SN, and which post encouraged me to re-read the bitcoin.pdf white paper again?

35 sats \ 1 reply \ @vSats OP 4 Aug

Well, I was pessimistic, I went through the legal process just for the sake of it. Didn't really think about it.

Now that I think about it, I used btc-e too, but I can't remember if I had any btc left with them...

I came here because a post from @Fabs on reddit, and this is post (and the comments) that made me re-read the white paper: #611746

0 sats \ 0 replies \ @Carresan 4 Aug

I am glad you are back and happy that my post and comments helped a bit. Enjoy!

0 sats \ 0 replies \ @Lumor 5 Aug

Is that you selling? 😅

0 sats \ 0 replies \ @TomK 4 Aug

Welcome back. And now try to relax a little...

0 sats \ 2 replies \ @sangekrypto 4 Aug

Wow, it turns out that in 2013 someone hacked MT Gox? even though at that time there were still few who produced bitcoin, this is different from now, at that time only a few people knew and not many people knew about bitcoin in 2013. What was more interesting to you so you got back into this?

welcome back friends.

0 sats \ 0 replies \ @vSats OP 4 Aug

Well, I went back for a bit when I was working for a bank in 2017... Looking how they work from the inside just trigger some memories... So I bought some stacks of BTC and left it for a while...

About at the end of last year, suddenly it became apparent that the Mt. Gox payments is coming, so I realize I have no idea about how things are going... So that's when I started to read up more, to keep up.

0 sats \ 0 replies \ @vSats OP 4 Aug

I think the hack was in early 2014.

I had trouble withdrawing funds in Dec 23 2013, just before Christmas.

0 sats \ 2 replies \ @siggy47 4 Aug

Welcome, and thanks for posting. You already taught me something. I wasn't aware that claimants only got 15% of their bitcoin back. Is that the case for everyone?

138 sats \ 1 reply \ @vSats OP 4 Aug

So in simple terms, there are different levels of payments... I only fully understand the one I pick, so the other level you need to verify....

Early Lump Sump (that's me), we got paid in percentage of btc that was lost (15 to 22%, the larger the btc amount, the less the percentage). We got our only payment in btc in July/August
Final Payment, people who wait until all legal battle finished (Some say in another 2-5 years), they got like 4-5% paid in July/August. But the rest will be paid pending the legal desicions.
Fiat only payments. People who rather to be paid back in Fiat. I think they are still waiting, since our trustee haven't sold their share.

0 sats \ 0 replies \ @siggy47 4 Aug

Thanks for the information.

0 sats \ 1 reply \ @freebookspls 4 Aug

welcome back

0 sats \ 0 replies \ @vSats OP 4 Aug

Thanks!

0 sats \ 0 replies \ @Satoshi__Nakamoto 4 Aug

I don't anticipate receiving the truth in your response, but perhaps some contemplation before answering. In any case, congratulations and welcome.

0 sats \ 1 reply \ @Octopus 4 Aug outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.

0 sats \ 1 reply \ @NaOD 4 Aug outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.

0 sats \ 0 replies \ @carlosfandango 4 Aug

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