litecoin physical coin

I threw away $10,000+ worth of Litecoin!

Early 2013 was when I decided to start to dive into the crypto scene This is a time before I was as financially aware as I am today. After seeing the price of Bitcoin reach heights of $40 and being impossible to mine it with my hardware (without a massive outlay), I started to look for alternatives. In my journeys I stumbled across Litecoin, reading it as the “silver to the gold”. I was happy with what I saw from the community. Seeing that people were actively buying and selling things made me happy to see its uses.

How did I get Litecoin in Australia?

Around this time people weren’t really taking crypto as seriously in Australia(we laughed at BTC being $80 on Coinspot “no way it will go higher”) as they do today and I found it hard to justify spending “real” money investing with an exchange. So I had another plan. I decided to take out a AMD 6970 from my main gaming PC and I put it into our family PC to mine 24/7.

I also started mining with my work PC, But after a few days was told by the boss that my PC was too loud and I was to stop mining. I offered to share profits but at the time they weren’t worth anything of decent value. This didn’t really bother me because I still had the big daddy AMD card at home chipping away for me.

Why did I give up mining?

Weeks go by after I started mining, my family started to complain as to why the PC was soo loud and told me to fix it. I eventually had to pull out the graphics card. Checking the wallet I had 28 Litecoins in there. I dismissed it because at the time I had actually used more power than the coins were worth. Time goes on and eventually the computer goes up for sale. I backup the Userprofile and don’t really think much about what was on the root of the C drive. This, as you may have worked out from the title is where the miner software and wallet were stored.

Cryptocurrency started its first boom

Fast forward a few years, Cryptocurrency really isn’t on my mind at all. I have been trading Forex for 2 years now and just seen Ethereum pop up on the scene. Still not really believing in the power of blockchain of Cryotpcurrency, I again miss the opportunity to buy at $40 (dont worry, I got in later ;). I decided to commit and signup with Coinspot and Coinbase, research a few coins and icos and invest. This time I didn’t pick Litecoin.

I focused on the more tech driven options like OMG and ANS/NEO. Another few months go by, And we are here today. Litecoin just hit $471AUD on Coinspot and I have searched for the wallet on every backup and every old HDD I have. Its not there, Its gone. Even got access to the familys other PCs just incase there was a backup somewhere.

The aftermath of losing Crypto?

I spent the entire day today getting shit from the boys because of it. We all had a laugh about it and we were talking about the days gone by of how many things have come and go. I had an odd feeling of “what if” pass over me. Then I thought about the guy Laszlo from BCT spending 10,000BTC on pizzas. I bet he must have had a strong case of “what if” too.

Really in the early days no one knows what is going to happen. Its easy to say “oh you should have done this, you should have done that” but honestly, If you had brought 10,000 for $40, Would you have held them until today for $25kAUD each? I doubt it. The average joe who is into Bitcoin would have sold them at $100 most likely. Its all part of investing and learning.

What did I learn from all this?

Im not he first person this happened to and I wont be the last, The point is you cant let these instances get you you. This isn’t the only opportunity in your life you have to make money. There are plenty of investment opportunities and just being apart of Cryptocurrency in general right now is a good thing.

I urge everyone of you who reads this to spread the word to people. Let them know what kinds of technology crypto can bring to our life. If there is one thing you can take away from this, Is don’t let your emotions get the best of you, and backup your wallet 😉

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