I Mined Bitcoin For 2 Years and Lost It All

By akohad Jan20,2023

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I’m glad I did. Sort of. You’ll see.

Photo by Michael Förtsch on Unsplash

Take a moment to reflect on all the missed opportunities you’ve had in life. We all have a few. I’ll start.

Back in 2013, 12-year-old me heard about this new type of “internet money” called Bitcoin.

Internet?

Money?

I was hooked immediately. Without doing a second of research, I ran to my parents.

“Can you buy me a Bitcoin with your credit card? I’ll pay you back!”

I received a no almost as quickly as it took for me to decide I wanted a Bitcoin.

Being a stubborn pre-teen, I began looking for alternative avenues for obtaining said Bitcoin.

It wasn’t long before I came across Bitcoin Mining, the process in which miners get rewarded with Bitcoin for verifying transactions on the blockchain.

Of course, I didn’t know what any of that meant at the time. I just knew I wanted to be a Bitcoin miner. I joined a mining pool online (this was back in the day when a computer’s CPU was sufficient for mining) and let my computer get to work.

I mined Bitcoin for about two years with just my computer. The result of my (computer’s) efforts? Half a Bitcoin. I never got my full Bitcoin, but it was nothing to sneeze at.

Still, I sneezed.

I never ended up taking my 0.5 Bitcoin off the account and the pool dissolved, as did my 0.5 Bitcoin.

In 2015, it was unfortunate, but not the end of the world. Back then, 0.5 Bitcoin was only worth ~ $150.00. Now, at its all-time high, I would have received $33,000 for doing essentially nothing. Heartbreaking.

What I received instead was a valuable lesson. As valuable as $33,000? Perhaps someday.

I learned to not let missed opportunities dictate present and future actions.

I could have easily dwelled on this and gotten turned off from the whole world of Cryptocurrency. I had enough personal experience to distrust the only concept.

Instead, I now invest a very small amount into Crypto each day. This time, ensuring it’s in a place it can’t disappear if a platform goes down.

You live and you learn — it’s a cliche that misses an important piece of context. Application.

You need to apply what you learn to advantage of the opportunities that present themselves.

Many of you reading this are probably writers here on Medium. Regardless of how important your stories’ successes are to you, each time you post is an opportunity to reach a potentially large audience.

You’ve posted 20 stories with no results? Who’s to say your 21st won’t?

The only way your 21st is guaranteed to not succeed is to not hit “publish”.

Let’s return to your reflection about some of the missed opportunities you’ve had in life. Think about what could have gone differently, only this time, not with the mindset of regret. Think about what could be in the future now that you have the context needed to not pass up an opportunity.

It’s far more productive and exciting.

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By akohad

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