How I Missed the Opportunity of Becoming a Nigerian Bitcoin Multimillionaire in 2017 by gandhibaba

steemleo · @gandhibaba · Nov 19 '19

$5.85

How I Missed the Opportunity of Becoming a Nigerian Bitcoin Multimillionaire in 2017

![images (1).jpeg](https://steemitimages.com/DQmTX4Bpf7Dm5AkppTyMa3DAwXh1UJGKpcfJBSYBneMQYgA/images%20(1).jpeg)

I made the worst financial decision of my life in 2017. For me, 2017 was full of great regrets because I missed the rare, lifetime opportunity of becoming a multimillionaire through investment in Bitcoins.

Now I am compelled to believe that we are wherever we are today because of the right or wrong decisions we made yesterday. This is quite true in my own case. I will now tell you my story in the paragraphs that follow:

I was introduced to Bitcoin towards the fall of 2016 by a childhood friend. He had given me some basic lessons on the whole idea of cryptocurrency, how it had the potential of dominating the mainstream paper money and how it could exponentially appreciate in value as more and more people across the world continue to adopt the currency.

Afterwards, I did further research online about cryptocurrency. I was thrilled, so I decided to buy three Bitcoins in November 2017.

![images.jpeg](https://steemitimages.com/DQmW31CRKJ4yM7PqwowaLHRLVYyF1YD4btBenic6oxrx9YQ/images.jpeg)

At the time, a Bitcoin sold for about $700 which was approximately 350,000 Naira at an exchange rate of 500 naira to $1. So, in total, I invested $2100, the equivalent being, of course, 1,050,000 Naira. And so, I went to bed waiting for the day the price of Bitcoin would soar like an eagle.

However, in the second week of December when [MMM Nigeria froze](https://www.vanguardngr.com/2016/12/breaking-panic-confusion-grip-nigerians-mmm-freezes-confirmed-accounts/amp/) the account of millions of its participants across Nigeria, there was great panic in the air. The media bombarded the Nigerian public with the dangers of ponzi schemes and the looming doom that would come with cryptocurrency investments. Particularly, Bitcoin was blindly targeted.

While I was struggling with the maligning articles in the media against Bitcoin, another friend paid me a visit on the eve of Christmas and advised me to sell off my Bitcoins. I was hesitant at first but I eventually heeded to the advice.

So, on January 12th 2017, I sold off 2 Bitcoins at the rate of $720 per Bitcoin, the equivalent being about 650,000 Naira. Eventually, I sold my last batch of Bitcoin (0.55BTC) on January 22nd 2017 for 239,000 Naira when Bitcoin exchanged for $920 per Bitcoin.

In the end, I sold all the 3BTC I had in my wallet for about $2500, making a token profit of roughly $400 for my $2100 investment. At thia time, $400 was about 160,000 Naira.

![2017_12_22_18.19.41.png](https://steemitimages.com/DQmZzDc9FRWMAGzgdB1XZTe2q1YHptDR7iHYQS8R5Xv6QP2/2017_12_22_18.19.41.png)
<sub>Screenshot of my last BTC panic sale on Luno</sub>

**After the panic sales, I suspended all my involvement with Bitcoin and other cryptocurrencies and faced my full-time banking job. But my thoughtless decision would turn out to be one of the biggest mistakes I have made in my life. By December 2017, 1 BTC was selling for approximately $20k.**

If I had not sold my BTC earlier than I did, I would be worth about $51000 at the peak of the bull run. At the present exchange rate of 350 Naira per $1, I would be having an estimae of 17.5 million Naira, getting a stunning 1800% returns on investment. This would have made me the youngest millionaire in my family but I lost the opportunity due to ignorance and fear.

![images (2).jpeg](https://steemitimages.com/DQmSLc1zipMzcTUiy7tjB3Yrg74iaeacfGkVrwhtzQVS7fZ/images%20(2).jpeg)

**The good news is that I have learnt my lessons and moved on; for it is not what happens to a man that matters but how he reacts towards it. I look forward to investing more in cryptocurrency, especially Steem and Bitcoin in the years ahead.**

![images (3).jpeg](https://steemitimages.com/DQmV16urvMCPrnEGaWPAN57STdq88sJCmaqSCxFGwiWU3Zc/images%20(3).jpeg)

---

### I am @gandhibaba, the young man who goes about carrying his magical pen, not his gun, in his pockets.
<center>![Gandhi banner (925px, 25fps).gif](https://cdn.steemitimages.com/DQmfL4D7ZTppWW3pFAHCBu8j9kNeaeKtN2udCrMCKpAUzNA/Gandhi%20banner%20(925px,%2025fps).gif)</center>
Gif courtesy of @artzanolino
---
## Thanks for visiting my blog. I appreciate your precious time.

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👎 camillesteemer, koroljova

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wolfinator	12,989,230,765	50%
e-r-k-a-n	50,344,980,584	20%
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tankometry	3,691,805,590	20%
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brada2550	1,133,396,095	20%
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steemdapps	48,529,245,014	50%
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cryptofiloz	112,799,740,019	20%
q-news	1,533,826,370	20%
potence	915,044,026	20%
jackramsey	3,402,762,495	17%
olaexcel	5,486,286,175	20%
dear01	4,005,944,711	20%
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x-tech	6,882,240,920	20%
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moro1992	2,381,164,396	20%
dtrade	695,954,720	20%
pearltwin	1,263,499,672	28%
xyzxyz	7,234,715,487	20%
newtrailers	38,314,579,641	20%
trydice	38,376,413,701	20%
dark.light	5,901,962,464	20%
haxxdump	38,822,039	5%
kajmiere	544,994,968	20%
evanstinger	12,204,771,171	20%
ookii	13,581,090,456	20%
octalmage	15,663,590,143	20%
axeminni	193,580,580	11%
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cryptohustler101	659,724,329	20%
ph1102	38,184,017,455	20%
queengaga	1,062,217,786	20%
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spinvest	3,024,274,666	20%
accountsdump	7,693,441,608	20%
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@tryskele · Nov 20 '19

Live and learn is all we can do.  As far as an investing stand point...it was a success you gained from your initial purchase.

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@gandhibaba · Nov 20 '19

Sure, I do agree with you except that I missed a great opportunity. Thanks for your kind words and for stopping by.

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@zhanavic69 · Nov 20 '19

Hello @gandhibaba is strong is bad but after all don't see it that way. 

From bad things, we learn and it serves as a lesson to learn and improve.

I believe that losing is also won, here you have gained more than coins, you have gained knowledge, you have gained friendships and followers among them I ha ha ha ha.

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@gandhibaba · Nov 20 '19

It's sweet to hear these fine words of yours. Glad I have made a new friend in you. Cheers!

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@zhanavic69 · Nov 20 '19

Thanks to you also for accepting virtual friendship, good luck in the next business.

properties (22)

@weddinggift · Nov 20 '19 (edited)

Let's hope when STEEM survives and it has its 10th year anniversary. Early adopters like yourself could have your dream becoming a reality.

And yes, take your friends' advice. Investment is all about learning. No one gets a perfect score when it comes to initial investment.

properties (22)

@quotes-haven · Nov 20 '19

They say hindsight is 20/20. If only we have the benefit of hindsight. But such is life - especially when it comes to investment. You win some, you lose some. 😊

properties (22)

@gandhibaba · Nov 20 '19

Thanks for these wise words. You've summarized life in your short but insightful words. Cheers!

properties (22)

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@quotes-haven · Nov 20 '19

You are too kind. Cheers! 😊

properties (22)

@frankbacon · Nov 20 '19

Highly rEsteemed!

At least you made a bit of profit.  I know some folks who have completely lost Bitcoins that they picked up early.  Count your blessings Bruv, you did great compared to many others ; )

![Bitcoin Insurrection.png](https://cdn.steemitimages.com/DQmbakrN1poRapFZvbuKytmGNt8322vfo6tDvkkUtgxJBL7/Bitcoin%20Insurrection.png)

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@gandhibaba · Nov 21 '19

I have to agree with you, friend.  Thanks for the resteem and for this additional footnote about Bitcoin. Cheers!

👍 frankbacon

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
frankbacon	0 B		13,995,796,589	25.6%