When I first started this (again...I am a regainer) I looked at my new ticker and almost cried. I was SO FAR from the goal. (I know others here have had much bigger journeys, I'm just sharing how I felt when I saw mine.) It felt like it would be forever, and even moving the ticker down the first few pounds didn't help. It wasn't until it was past 10 lbs that I started to feel some hope. Now, over halfway there I am feeling so much relief. It feels less awful, and it feels like it's totally possible now. I am hopeful too that this time there will be no regaining because everything is different this time. I stopped lying to myself, I stopped making excuses and I no longer view this as something I have to do "until" and then I can stop. (Stupid, I know, I know!) I can accept that it'll always be a part of my life, a new way of being, period, not a diet.
Now if I am honest, my ticker isn't really my "goal." My goal is a full ten to twelve pounds less than my ticker, what I used to weight when I was happy and healthy and comfortable. (Size 10, 148-150lbs, and in case anyone is concerned based on my height, this is perfectly wonderful medically, says my doc!) So even though "completing" my ticker isn't the only goal, I'm calling it "stage 1." Even though stage one is a larger amount of weight to lose, I fully expect stage 2 "the last ten pounds" to be harder, because it always is a little harder to lose at smaller numbers.
There is light at the end of this tunnel! It might just be a speck right now, but I'm going to keep moving towards it!

I totally know what you mean about it feeling hopeless in the beginning, but something about getting past halfway made me go "wow, this is real".