/biz/ - Business & Finance

[Anonymous No.12109877]

>make 1.2 million from crypto
>lose it all

for the love of god - learn from this fool's mistakes, /biz/.

https://twitter.com/PeterMcCormack/status/1073196778705559553

[Anonymous No.12109897]

>>12109877
>learn from this fool's mistakes, /biz/
I think it's a bit too late for that.

[Anonymous No.12109902]

>fell for the mining meme

Deserves far far worse.

[Anonymous No.12109911]

99% of people in crypto held, whther they had 50k or 2 million, there are discords full of people who lost 6-7 figures.The narrative back in jan was that it was a minor blip on the radar, so everyone held, it is what it is.

[Anonymous No.12109925]

>>12109911
Always follow your gut instinct if you have a lot of money riding in

[Anonymous No.12109942]

>>12109925
What if my gut instinct is not selling because I want more?

[Anonymous No.12109962]

>>12109925
>always follow your gut instinct
No, make a strategy, learn risk management, learn TA, keep up with the news in case of fundamentals
For the love of god, don't trust your gut ever, you are prone to make mistakes

[Anonymous No.12109968]

>>12109911
The thing is every dip had been followed by a bigger moon. All of last year was like that. Anyone that held through the June dip got richer in July, anyone that held through the August China FUD got richer in September, etc. It was just going up and up.
I joined in May last year and by the time it was January and my $8k was $370k it seemed like fiat was a shitty store of value compared to magical mooning crypto. I even looked at my folio when it was $370k and thought "man, this is really overheated, I should take some profits" but then thought "Nah, XRB and ICX are good coins, I'll keep holding".
The lesson to take away from it all will be to take profits during hysteria. There will be more hysteria, it's guaranteed.

[Anonymous No.12109998]

>>12109968
Yup.People were saying icon was going to 100 billion etc.You can never time the top , just like you cant time the bottom.Problem is when the top falls off it happens very rapidly.And then you have to believe that not only was it a bear market incoming but also the worst crash in any modern markets history, the % chances of both were low as shit, unfortunatly it was both.

[Anonymous No.12110012]

>>12109925
Gut instinct is meant for sensing and reacting physical dangers. It's not meant for predicting financial markets.

[Anonymous No.12110013]

>>12109877
Why do you keep posting this cunt here? i hope he loses everything. kill yourself.

[Anonymous No.12110071]

>>12109877
>Sure I regret stuff but I am happy with how it has all played out.
>I am happy with how it has all played out.

[Anonymous No.12110094]

>>12110013

>Why do you keep posting this cunt here?
first time ive posted this sad cunt here

>i hope he loses everything.
yes he deserves to lose everything for not cashing out one-fucking-million

>kill yourself.
fuck your mother if you want fuck you spastic cunt

[Anonymous No.12110132]

>>12109911
I just don't get how this can be difficult? Just look at the fucking weekly chart! Just fucking buy when it's going up and sell when it's going down. It keeps doing the same thing every time, it's not like forex that is choppy and hard to predict.

[Anonymous No.12110188]

>>12110132
Ill tell you how difficult it was, a friend is is a pro trader group, they lost millions from not selling, many of them went from 30 million down to 3, and that was 4 months ago.Everyone got suckered in.If it wasnt difficult than 99% would have sold and not the reverse,Everything is obvious in hindsight, whether its nba champions, elected president, lottery numbers or oscar winners.If everyone was telling you your house would be worth 10 times more in 6 months, would you sell?Because that eas basically the scenario the vast majority believed in jan.

[Anonymous No.12110192]

>>12109998
No dude january was the easiest "get out" ever. Futures started trading. Btc was on the news daily. There were no more fish to get suckered in the pyramid. Futures was the time to get out, everyone on biz called it. Just look at the chart, this is like the 5th time this type of pnd happens. How some people can still fuck it up is beyond me. I mean I get it, some people are true believers and that's ok, but in that case you shouldn't even care about price in the short run.

[Anonymous No.12110207]

>>12109877
There are worse stories than this on biz
This is nothing.

The only thing that suprises me is how he is accepting of the fact of his loses.

I guess people just dont appriciate things they dont have to work for.

[Anonymous No.12110208]

>>12110192
A small minority called it, the vast majority held, lets not rewrite history.

[Anonymous No.12110217]

>taxes
cringe

[Anonymous No.12110224]

>>12109998
funny literally hearing a goy on the street predicting ICX 100bn EOY was my final sell signal, peak late adopter delusion

[Anonymous No.12110245]

Transfered all my crypto into mtg cards at the right time. Feels good man

[Anonymous No.12110271]

>>12110208
no it merely appears that way because only the bagholders stuck around

[Anonymous No.12110278]

>>12110188
You would still own the house but now you can't even scrape the rent together.

[Anonymous No.12110285]

>>12110224
That could have been me tbqh

[Anonymous No.12110299]

Learned a valuable skill along the way, and for that I am grateful. See you around space cowboys!

[Anonymous No.12110303]

I suppose most here lost 6 figures this year.

I know 20 year olds who did the ETH followed by the NEO ICO.
€2,000 => €80,000,000
They are still in the 15 mill range, tho.

I was at 300k but desu I didn't know what to do with it in January anyhow so whatever. Now I saw that money is a meme. And I'm back at 100k as soon as there's a bullrun.

[Anonymous No.12110329]

>>12110285
thank you, fren

[Anonymous No.12110352]

>>12110207
>The only thing that suprises me is how he is accepting of the fact of his loses.

i guess when the 1.2 million was 'here today gone tomorrow' it hasn't stuck around long enough to mentally register as being present, but he'll definitely wake up in the middle of the night crying about this eventually, probably a few months into his inevitable return to wage-cucking.

[Anonymous No.12110359]

If everyone held their assets and lost money
Why did the price go Down 90%?

[Anonymous No.12110372]

>>12109942
Then don't follow it. Only follow you instinct if it accurately predicts the future.

[Anonymous No.12110391]

>>12109968
>There will be more hysteria, it's guaranteed.

[Anonymous No.12110406]

>>12109877
>>12110071

[Anonymous No.12110413]

>>12110359
Btc went down 6x on its own, even if a coin held its satoshis it went down 6x in price.This market gets fucked by btc.

[Anonymous No.12110427]

>>12110303
so they sold all of their eth to buy neo, and now they have 15m in neo?

[Anonymous No.12110431]

Copedy copedy cope :^)

[Anonymous No.12110443]

>>12109877
the only people who made money in crypto were the chads who bought in 2010 to get drugs, forgot about bitcoin until they heard about bitcoin in the news in 2017 , realized they had a few thousand bitcoin still in their wallet, and then sold because they have no emotional attachment to it

All the tech cucks sold at 1k or earlier rather than HODLing to 20k

CHAD ALWAYS WINS

[Anonymous No.12110466]

>>12110391
smart contracts will be a frenzy all of their own in the next couple of years, nobody is doubting that.

[Anonymous No.12110470]

>>12110192
this, greed got in the way of a literally text book bubble. Nothing had fundamentally changed about the underlying tech, it was pure hype and hysteria. At the very least people should have taken some profit, but at the time everybody thought bitcoin was going to 1,000,000 EOY and only a sucker would sell

[Anonymous No.12110472]

>COPEDY COPEDY COPE

[Anonymous No.12110480]

COPE
COPE
COPE
Let’s rename /biz/ to /cope/

[Anonymous No.12110492]

>The absolute state of coping

[Anonymous No.12110507]

Can’t stop, won’t stop
>COPING
Kek lol omg lol keK
>the COPE
Copedy copedy COPE

[Anonymous No.12110518]

How does it feel to be financially ruined.

[Anonymous No.12110523]

>>12110443
you are ignoring the mass media coverage and mini bubble leading up to gox, normies knew about it and actually it was pretty much the same stories you would hear in 2017 about how they were going to buy bitcoins at x amount but didn't get around to it, after goxing it was a scam they had predicted all along

[Anonymous No.12110538]

>>12110472
>>12110480
>>12110492
>>12110507
>>12110518
delete. my soul can't take much more

[Anonymous No.12110570]

The problem was that the new listed stuff got dumped on exchanges after 9th january. I sold all shitcoins which pumped and bought stuff like Nebulas, Wax or the not really pumped Kyber but EVERYTHING dumped. And like others i didnt cash out then cause of tax. You can see at least some fundamentals when you see the average prices but we guys that rode to theo top NEER knew if it can go that high and that new stuff will dump so hard under ICO price.
Next time i just try to ride the SAT price...

[Anonymous No.12110595]

"Edit: forgot one thing. Conserving capital is so important. When my balance was high I went crazy: new clothes, first class flights, giving money away to family, charity, laughed at $25k lost on Confido... the list is endless :)"

He had 1.2 million.... and laughed at losing $25k? He's not even rich, how could he think its acceptable to lose money, even a dollar?

[Anonymous No.12110608]

>>12110595
because it's fucking mania

[Anonymous No.12110933]

>>12109877
>1.2 million
I have a friend who lost 10x that amount from cashing out nothing at all during bull run

He's not even broke - he still has those assets he bought when he cashed out some. Hate how people glorify and exaggerate their situations just to gain 'internet point' and attention

[Anonymous No.12111455]

>>12109911
Yeah fuck lost 100k usd

[Anonymous No.12111550]

>>12110192
No because alts still mooned when listed . Until they didnt and i was all in lol