Don’t grieve. Anything you lose comes round in another form.
Thanks Jalaluddin Rumi for those wise words, but it seriously does not help me. So yesterday, during the big BTC rush I decided to transfer 1BTC in order to speculate on the price explosion, unfortunately I underestimated the transaction fee needed and I “lost” around 5000€… I will relate what was my journey since this significant lost.
I will start with my emotional level, which is playing between anger and fear. Angry about myself, for letting me lost that money. After a bit of time, trying to refresh the transaction, waiting very long minutes and hours, my patience left place to doubt and to fear. I had no clue what to do if the money disappeared. Thousand of questions were submerging my mind.
I went to work, with this idea that I have to start forgetting about that money, after all, I partially earn it and the rest only thanks to speculation, it is not really my money. Why am I so attached to that then? Why is it so much affecting me? After couple of hours of reflection I had the confidence to say that what I really lost was time.
When you take a look about how far and how quick the cryptos universe is going, I had the feeling that it was too late for me, those efforts I did to arrive to this amount (probably nothing for you, but try to scale it to your own capital :)) were all gone, and not possible to be reachable again. 6K$ today, 7K$ in a month and so on, I will never be able to reach back my initial capital, and my thrill into that game was gone… It was a pretty bad feeling, like a break up moment when you have no control on what is it going on, when you are left on the side of the road.
I truly understand that we are talking about money, but for me it was more than that, it is about hope. About one day being able to definitively quit my job and be able to do my own business. I was really sad, but I accepted. At the end, it was my fault, I did not pay attention to the fees, I tried to make money in a very intense period, nobody will be there to blame me, and the community is not necessarily supporting….
Community in general are not really helping, you really feel alone, you have to handle it yourself! Then I decided to not give up! My life was just hanging from a transaction number that I write it down here to remember.
It is the only link between my money and me! I decided to not give up on my money and I will come back to you when I will know more about my loose. There is still a chance to find my money because it is there, behind the transaction number!
We will never repeat it enough, but do not play with money you do not have, or need. It could happen at any time. Cryptocurrencies could be a bubble and explode at any moment, nobody knows. There is no insurance or any institution to help you in case of problems. You are responsible to your capital and actions.
If you want to transfer, or to speculate, maybe think twice and just do it with half of your initial value.
Never minimize the miner fees… That is the game, some website like that one are helping to figure out how much gas you should put to be sure to be processed.
Good luck if it happens to you, stay strong, there is always a chance!
How it could happened?
Low fee transaction You put a too low fee for the transaction you are doing, making your transaction looping and looping before being processed.
Wrong crypto transaction You made a transaction to the wrong cryptocurrency address. BTC to ETH, etc…
Loosing your Private Key/Password You simply loose your private key or password, nobody will be able to help you to recover it.
See you soon, space cowboys!