I felt like sharing this story biz. No larp, 100% true.
I got into crypto in June of 2017 and put literally my life savings into Ethereum (about $80k). I watched that number blow up to $1m by January the following year, but my greed took hold of me. I thought I could beat the market and trade my way out of the losses that started building. I had never traded before, but somehow thought I had some kind of edge simply because I beat the market during the bull run by taking on too much risk.
I had 120 BTC worth of alts at the peak, which gradually dwindled to 60, then 30, then 10 and eventually out of frustration I put my last 5 into a shitty alt hoping for moon, only to watch it go down to 2 BTC. I then tried margin trading the rest using too much leverage, and was liquidated within a few weeks. The morning I woke up to my liquidation alert and saw my account balance was $0.00, I felt nothing weirdly enough - almost free. The two years of bear combined with losing $1m dollars and so much time had made me a hollow empty shell of my former self. I had to get a job.
This was 6 months ago. I have been saving non stop for 6 months and finally have managed to buy 1 BTC with a ledger. I have sent it to my ledger and will not be trading with it, with the intention on not even looking at the price for 3 years. Even though I lost a lot, I still feel like I have a little moon ticket waiting for me in a few years.
Moral of the story: there is no easy money, and what goes up typically comes down just as hard. Work hard, DCA into the one quality asset in this space (BTC) and anyone with at least 1 BTC in 5 years will be incredibly wealthy.
Goldspeed fren You will make your losses back, I am sure. Greed is the worst of all evil. Was a hard lesson to learn for me as well
Luke Scott
you weren't greedy, you were arrogant, big difference
Robert Robinson
man, im so sorry to hear, to go to 120 btc to 0. i have had my fair share of losses (once scammed out of 10.5k, once i have lost about 4k twice at one point, missed 10k profit on chainlink by selling a few hours before etc), but what you went through is revolver to the mouth worthy.
and yet you are back at it again and learning from your mistake. kudos to you man. i admire your bravery to stand up and do it again if nothing else.
Nathaniel Hill
May i ask if you have been SLAMMED WITH A FUCKING BRICK IN THE HEAD?
you come here and start the typical 'i need feelgood and confidence', at the end of the line you blew 80k, and are now ready to blow another 6k, just so you can MAYBE get even back to 80k. For that to happen it would need and atealst 10x increase again, which is, let's be honest, never going to happen.
for one simple reason, listen to me closely.
the banking industry will never, ever let cryptocurrency become an competative fiat. Simply because they can't make money of it the some way they can with fiat now. Our whole world is build on fiats, and is held together by strings of debt.
Cryptocurrency IS the answer to a dying monetaire system we live in today. But the answer will take down the ones that are in control now.
TLDR: You had 80, and now you less then 10% and act like a chad while ur actually a beta fucking investor, just like me and the other fake bulls on here,
Xavier Wood
>Cryptocurrency IS the answer to a dying monetaire system we live in today fuck off retard
Eli Stewart
if you don't know why it is it just means you are retarded, it actually has fucking value from work, not printen.
Sorry to hear bro. I mean, you learned something very valuable from this as a human. Don't forget that
Bentley Walker
what value does cracking SHA256 hashes have
Jaxson Powell
You are a retard, and you will lose all of your money again
Jayden Sanders
thanks user for the screenshot user, I will constantly remind myself of your folly
Isaac Rodriguez
That it protects your account from forgery.
Josiah Bell
>and anyone with at least 1 BTC in 5 years will be incredibly wealthy.
I JUST SOLD ALL MY BTC. OP IS THE ORACLE OF DEATH
Adam Cox
>There's no easy money >If I just hodl this internet funny money for a few years I'll be rich You have a gambling problem bro. Unironically stick your money in a safe Infex fund and forget about it. People make fun of this advice here and they are right on a lot of levels but what they neglect to account for is that many people simply don't have the discipline to manage their own portfolios. If you ever 10x your money on anything then get the fuck out man Christ.
Asher Reed
idk if even selling at x10 is necessarily good advice, imagine being the guy on nano (raiblocks at the time) in nov 17 and you got it at 14 cents, if you sold at 10x gains you would have missed on x200+ gains in two months!
Wyatt Wood
i would actually suggest the OP to go to altcoins not BTC, the post halving dump that's almost certain to happen may very well be the last major bearish activity we see until the next peak. getting in now to good altcoins would be like buying the decent alts in early 2016.
no, perhaps better for btc ATH's would push the atcoin marketcap in the trillions most likely which means we might blow past old peaks in ats.
Connor Cooper
or dont be an idiot and take profit on the way up.
Nathan Bell
>"I WON A LOTTERY! WHAT A HIGHLY UNLIKELY EVENT!" >"Let me let statistics win by spending it all on more lotto tickets!"
You were given the fucking keys to the kingdom and you fucking squandered it! You fucking deserve to be broke for being such a dumb ass.
Luke Young
bait
Carson Hall
Same except i turned 15k into 200k in 2017, didnt sell, it went down then i lost the rest on bitmex, rn im literally broke
Jose Lee
Pain? Just wait til you get the tax bill for the initial $1m profit
Andrew Myers
If only you had sold let's say 20% at the top. If dollar cost averaging works for the average investor in buying financial instruments the same should work for selling. ESPECIALLY if you go all in with your savings.
David Cook
Never fucking put all life savings in a high risk assets like crypto. Always diversify. Is it so hard to come up on your own?
This is terrifying. I got in late 2018. Been accumulating since. Initial is roughly 15k and Im up to 110k now. Next year when the market goes anywhere from x3 to x?? (will hit ath at worst or golden bull at best). I think about people like you and posts like yours all over 2018 Yas Forums. I'm constantly thinking on my sell strategy which I know will change as next year begins to play itself out. Roughly I expect to start selling slowly next summer with a view to being 90% cashed out by eoy. After that it's wait a year for the expected crash and start again for the next 4 year cycle. Thanks OP for the reminder.
Jaxon Bailey
i had about that at my peak and now ive got roughly around your initial. j u s t
Levi Torres
I felt bad for OP until I saw him margin trading and investing in alts.
Carter Phillips
so you gambled and lost, got it, not gambling my savings, ty, hope you are gonna make it
You are a degenerate gambler bro. Withdraw your btc and use the cash to buy a real, underpriced asset : silver. Crypto is NOT a store of value because there is no work and resources behind it, it's just empty promises and living on ponzi life support.
