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18675515 No.18675515 [Reply] [Original] [archived.moe]

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.

>> No.18675626

>>18675515
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

>> No.18675656

>>18675515
you weren't greedy, you were arrogant, big difference

>> No.18675693

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.

>> No.18675697

>>18675515
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,

>> No.18675705

>>18675697
>Cryptocurrency IS the answer to a dying monetaire system we live in today
fuck off retard

>> No.18675721

>>18675705
if you don't know why it is it just means you are retarded, it actually has fucking value from work, not printen.

>> No.18675754
File: 76 KB, 693x1024, E12A4C2A-6E2C-48E4-AE96-34445F523881.jpg [View same] [iqdb] [saucenao] [google] [report]
18675754

>>18675697
ring...ring....ring

>> No.18675770

>>18675515
Sorry to hear bro. I mean, you learned something very valuable from this as a human. Don't forget that

>> No.18675777

>>18675721
what value does cracking SHA256 hashes have

>> No.18675936

>>18675515
You are a retard, and you will lose all of your money again

>> No.18675956

>>18675515
thanks anon for the screenshot anon, I will constantly remind myself of your folly

>> No.18675982

>>18675777
That it protects your account from forgery.

>> No.18675986

>>18675515
>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

>> No.18676010

>>18675515
>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.

>> No.18676047

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!

>> No.18676067

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.

>> No.18676082

>>18675515
or dont be an idiot and take profit on the way up.

>> No.18676138

>>18675515
>"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.

>> No.18676153

bait

>> No.18676183

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

>> No.18676193

>>18675515
Pain? Just wait til you get the tax bill for the initial $1m profit

>> No.18676228

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.

>> No.18676751

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?

>> No.18676767
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18676767

>>18675515
this is too heavy for my liking

>> No.18676774

>>18675515
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 /biz/. 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.

>> No.18676808

>>18676774
i had about that at my peak and now ive got roughly around your initial. j u s t

>> No.18676830

>>18675515
I felt bad for OP until I saw him margin trading and investing in alts.

>> No.18676859

so you gambled and lost, got it, not gambling my savings, ty, hope you are gonna make it

>> No.18676871
File: 48 KB, 541x293, vanguard meme.png [View same] [iqdb] [saucenao] [google] [report]
18676871

>>18676010

>> No.18676939
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18676939

>>18675515
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.

>> No.18677328

>>18676808
What the fuck are you even holding

>> No.18677366

>Long contrived blogpost that can be summed up as "I'm a dumb fucking retard" of an investor
>Proceeds to give investment advice on the same market he was unequivocally blown out in.

I'll never understand the hubris of people that do this. Is there no introspection from anyone on this board?

>> No.18677454

>>18675693
>>18676047
>>18676067
jesus christ anon each of these posts is more retarded than the last

>> No.18677483

>>18675515
>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
I gagged. Fuck off back to Re ddit

>> No.18677575

>>18675515

Picture how different this fucking faggot's story would be, if he actually knew what he was talking about, and now he comes here, like a WOMAN, to tell his story for ATTENTION, on an anonymous forum. Pathetic. What if he actually did his due diligence, like a MAN, and provided for his family buy buying infrastructure-tier blockchain agnostic projects.

Nope, he just eats shit, fails, and then after losing ALL HIS CAPITAL, he thinks his FAILURE is reason for him to GIVE YOU INVESTMENT ADVICE. HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HOLY FUCK Yes go all in on BTC because the LOSER told you to.

>> No.18677637
File: 700 KB, 863x695, tezos froggy.png [View same] [iqdb] [saucenao] [google] [report]
18677637

Buy tezos and stake for 3 years

>> No.18677729

>>18675656
this

>>18675515
>buy grandpa BTC and ETH only
ngmi

>> No.18677758

>>18676939
>>18676010
So much this. You have a fucking gambling problem, you don’t know when to walk away and you’re chasing a higher high.

I thought I was bad because I invested $3,500, peaked at $500,000 in paper gains, cashed out $25,000 and rode the bear all the way down to having a $30,000 portfolio... but no, I’m still up significantly and can’t lose at this point... OP makes me look like Warren Buffet

>> No.18678035

>>18675986
Lol

>> No.18678276

>>18675515
OP - there are many stories like yours.

The gambling/panicked overtrading comes from a kind of brain damage following the weeks and months of green candles, the constant euphoria and chart-staring FUCKS your brain and destroys all critical thinking. Makes you prone to panicking and overwhelming anxiety, when the time comes for things to turn bad.

That's why you couldn't just hodl 120 BTC and think, "eh well I am basically rich in a few more years, that's comfy enough"

You had to panic-trade your way down to NOTHING.

I did the same, but much lower figures, peaking at about 15 BTC. I was also lucky in that I got it all over with (lost everything) by July/August 2018, had a little break, cleared my head with LSD, used beta blockers to stop fomo/panic, and I was cured.

I'm very lucky to now be at more than 2x my 2017/18 peak and I'm sure you can do the same.

I am all in alts. I don't think BTC has the growth potential for my requirements.

I'm also largely "over" crypto and hardly come on here any more. Check prices every few days instead of 24/7 no sleep mode etc.

Man, I was even locked in a mental home for a while after I kept trying to kms to escape the horrors of compulsively throwing my money away and wasting my precious time.

You'll be OK, op. Some people are born with it but the rest of us need a really good bear mauling to become immune to this shit. Once you head, you're totally invulnerable and feel nothing. Green, red, nothing. You believe in your plan long term and even a 90% drawdown doesn't bother you.

Some will say that's "cope" but it just means they are still new and haven't developed the sturdy psyche required.

>> No.18678429

>>18678276
Basically this.
My advice once the bull run starts based on my past stupidity would be:
Do NOT visit /biz/
Find a handful of trusted twitter accounts and you tubers to keep you informed on the crypto space.
Do NOT read the comments

It is SO easy to get caught up in normie/retard circle jerks ‘SHIIEEETTT WERE GOING TO $1m boys HODL FOR YOUR LIFE’. 95% of rekt story’s (including my own) have at its core not selling even when you made insane gains.
It is hard to do as I know crypto fucks with your head, you can make ‘good gains’ but then it’s always in the back of your mind that any minute you could jump by 250% or even more.

In my mind this is a life changing opportunity, so I’m only selling for life changing money (during a bull run). 9/10 even if you miss the top you will still be in profit, selling for $20k when you ‘could’ have sold for $35k is neither here nor there. However crypto is about sacrificing that $15k in the hope you come out with $250k+.
Just don’t allow your mind to be corrupted by the hive mind. Deep down we can all tell when a chart has turned, deep down we all know when it’s just ‘too good’. That’s where we have to learn to get out.

>> No.18678434

>>18676774
>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 /biz/. 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.


Good that you're aware of it all. Chances are that you will fuck up - most people have to. What makes you different/better? You're doing really well to have 6 figs at this point in the market cycle - there's no reason you can't walk away with a few million if you're in the right alts. There are a whole bunch of alts that will almost certainly run XX% in the next few years.

I don't think you can set time limits on it, though - you won't sell next summer if the market is still low, will you? You have to have a rough plan or set of actions but in the end the timing and execution will be improvised. Maybe there is no fomo bubble next year at all, maybe it comes later, or, even harder to manager, much earlier. Maybe it is of a totally different shape to last time.

The 2013 and 17 runs were actually quite different, especially the alt/btc relationships and timings.

Will you really have the discipline to start selling on the way up and watch everyone else stay on the ride for months or a year or more? What if things run another 50x from your sell, how will you feel? Will you end up buying back in at the top?

What if the crash doesn't even come back down to your previous sell point? Are you going to stay out of the market for good, or buy back in "at a loss"?

>> No.18678458

>>18678276
>>I am all in alts.
What are these alts?

>> No.18678530

>>18675515
>Moral of the story: there is no easy money
Yes there is, it was right here:
>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
If only you weren't a retard

>> No.18678576

>>18678458
>What are these alts?

Doesn't matter, I have my favourite. Others have theirs. It's one of the popular sub-100mil caps that's new since the last bubble. That's where you want to be, desu.

Well, it depends on your stack. I have... *checks price for the first time in a few days*... about $430k right now. So that kind of market cap is great for me.

I got there with microcaps, though. Got to flip and work your way upwards, and not forget what level you're at.

One of the ways you can fuck up is forgetting that you're not a pajeet any more and don't need to be dealing with the $500 portfolio crowd. Different strategies for different amounts of money.

>> No.18678710

>>18678576
Imagine having that much in some dead shitcoin from 2017. Imagine not being all in LINK right now LMFAO.

>> No.18678748

>>18678576
>new since the last bubble

>>18678710
>dead shitcoin from 2017

10/10 reading comp.

Also, I will never, ever, ever, ever fucking touch ChainStink. Ever.

>> No.18678798

>>18675754
banana phone!

>> No.18678827

Poor people stay poor. News at 11.

>> No.18678839
File: 25 KB, 500x375, 7b11ce0769b4f9b4fa4d9a3c26eb0542.jpg [View same] [iqdb] [saucenao] [google] [report]
18678839

>>18675515
>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.
Please do me a favor and never try to write morals again, you're as bad as those 1800s writers and 90s writers, you understand nothing about knowledge, intelligence, wisdom.
You learned absolutely fucking nothing if you genuinely believe in this retarded bullshit you call a "life lesson".

There is easy money, the 2013 and 2018 bullruns were literal "free money" you fucking imbecile. I pity anyone who didn't margin trade during those times and immediately pull out at the peak.

Life is easy if you're born smart or at the very least learn to think smart.
I'm horrified because I imagine you having a kid and telling him all this bullshit. If I was that kid I'd tell you "Is that what you learned you fucking retard? sounds to me like you were just stupid and inefficient and somebody else would have made 50 million dollars if he wasn't mentally inefficient"

Daily trading isn't hard unless you're as dumb as those idiots who can't self-learn programming.

>> No.18678861

>>18678748
Based

>> No.18678913

>>18675515
Nice blog fag lmao

>> No.18678979

>>18678429
What are the Twitter accounts/YouTube accounts to follow regarding crypto and/or stocks, options, and futures?

>> No.18678989

>>18678979
Chainlink God

>> No.18679264

>>18676871
Fuck off poorfag. It's not for everybody but these degenerate gamblers need to stop trying to trade their way to millions.

>> No.18679333

>>18675515
Kil yourself

>> No.18679428
File: 323 KB, 600x617, disgusted.png [View same] [iqdb] [saucenao] [google] [report]
18679428

>>18678576
>favourite
>'U'
ngmi

>> No.18679579

>>18675515
This is unironically the same situation I had. Put in 25k - got to 200k on absolute shitcoins (ICX, DRGN, ALQO). Didn't sell, believing things would recover. Now I'm left with 2.5 BTC and thats after gambling on some new shitcoins.

Difference is I'm not naive enough to think that 1 BTC is going to be make it territory. You're going to miss out on lots of money, and be even more bitter. Live and learn, don't be so fucking greedy. When you hear all the suits in the nearby pubs talking about how rich they are gonna be.. sell.

It's all part of the fun! The funny thing is as soon as things heat up again you'll be putting that 1 BTC into the top of some shitcoin and lose it all.

>> No.18679598

>>18675515
Tl:dr

OP bought bitcoin and now feel good about himself that he will be rich sometime in the future
which of course will not happen, but hey, OP is happy

>> No.18679635

>>18675515
Larp. Im not buying your acam lmao.

>> No.18679649

>>18678576
Did you recover by waging or traidng?

>> No.18679793
File: 33 KB, 540x305, 4c5b22efa26b597c3abfc638978118f0.jpg [View same] [iqdb] [saucenao] [google] [report]
18679793

>>18678839
Pic related is unironically good advice. The lesson is to know what your strengths are.

>> No.18679826

>>18675515
Here's my crypto story. I bought 20k LINK at $0.20 and never sold. Then I got a job and stopped being a NEET and stopped regularly coming to /biz/. Currently getting a regular paycheck, trumpbux, and my LINK is worth almost $80k.

>> No.18679857

>>18675515
>3 years
not long enough my man barely read the rest of your post btw. don't sell until around 2032.

>> No.18680223

>>18675705
Lmao look at the fed balance sheet and the monetary base.
Half of fiat currencies won't survive to the end of the year.

>> No.18680308

>>18678748

Dude you are legit going to miss the bullrun. LINK is going to lead it. Its the final piece in bridging institutions to the blockchain. Legacy systems don't have to spend money overhauling infrastructure, just adopt digital ledger and oracle use.

FFS in 2017 everything was pumping it literally didn't matter what you were in, 90% were/are scams riding the wave. This run is different and actual value to the system will apply now.

I feel bad for you man.

>> No.18680347

>>18679826

Similar story. Lol I 9.5xed my money as a late adopter even. I entered literally December of 2017. Mostly bought Deep Brain Chain sold almost 1000% and exited all markets at the end of December except for a small LINK stack. I then DCA'ed LINK until 2019. I'm comfy as fuck.

>> No.18680398

>>18675515
after all that pain, you bought into a worthless normie coin. It feels 'safe' because you're investing with the herd.
Btc already had its moon, everyone heard about it, there's no new source of money enough for new ath. You won't be wealthy, it's going to dump a bit after the halvening, eventually eth is going to flip it, after which it's going to actual zero because the drop is going to be so fast the network is going to freeze.

Buy eth, stake when it's possible, don't sell.

>> No.18680720

>>18680308

Fuck off. Never buying.

>> No.18681071

>>18678434
>You have to have a rough plan or set of actions but in the end the timing and execution will be improvised

Pretty much this. Although I do ask myself many of the questions you raise and some others. Right now I'm thinking the 4 year cycle between halvings is in play and I'm yet to be convinced it won't play out that way even if the gains are less each cycle which seems to be the case. If we have not broke btc ath by this time next year I'll rethink things. I have prices I'm selling percentages at if we do break ath and trend up hockey stick style eoy. My first sell recoups my initial and I'll be happy to see how the months play out after and what sell points I hit. Any that don't I'll let it ride 4 more years since the cycle is still in play.

If the bull run doesn't come as long as btc hits ath again I break even on that sell point. If it never trends higher than that I'll still have a long way to go down before I'm losing. I'll see what I can get with it's volatility and continue wage slaving.

>> No.18681219

>>18675515
Very similar story but I went from 20k to 1.6 million. Then I was actually scared of crypto - crypto taxes so I pulled everything out in January and walked away with 800k after tax. To this day I can't believe I got away with the easiest fucking money in my life.

>> No.18681344

>>18675515
Anon. Put all your BTC into LINK. You have around 2000 LINKies with 1 BTC for now. It has outperformed BTC 10x in the bear market.

>> No.18681388

>>18675515
Buy 1 btc and you'llbe rich is the absolute retard level advice I would expect from a fucking idiot who didn't have the discipline to take profits when he made 1mm.

Fuck off you dumb bitch

>> No.18681408

>>18675515
>No larp, 100% true.
Stopped reading there. Definitely a LARP

>> No.18681530

>>18681219
You should have moved to a third world country and simply cashed out without tax, before moving back. Every cent you paid in tax could have been avoided. Just wanted to tell you this.

>>
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