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WHAT HAPPENED TO THE GUYS WHO INVESTED THEIR LIFE SAVINGS IN CRYPTOCURRENCY?
The short answer is, they became a valuable lesson for the rest of us to never, ever do this
Obviously a big difference between knowingly speculating vs being stupid.
https://melmagazine.com/en-us/story/what-happened-to-the-guys-who-invested-their-life-savings-in-cryptocurrencyLeave a comment:
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I always made fun of people who got into Bitcoin. (Especially if you understand how far behind Bitcoin is in terms of technology.. )and its a Ponzi scheme and seems to be beneficial for mob dealers, North Korea, etc. … but FOMO was too much for me. I got in earlier this year….. within a week I had lost 25% of my investment.. got out… Felt stupid for ever getting in.
I'm sorry about the loss, but if it's your first foray into crypto and you're out after a week, you're probably going to have a bad time.
I'm down about 50% from two months ago, but up 20% from six months ago (alt coins are my thing). The swings are real.
I've said it before, but I still wouldn't throw any serious money into it, especially if you don't live and breathe the stuff. It's just too chaotic to be considered a real investment. It's fun, though.Leave a comment:
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I always made fun of people who got into Bitcoin. (Especially if you understand how far behind Bitcoin is in terms of technology.. )and its a Ponzi scheme and seems to be beneficial for mob dealers, North Korea, etc. ... but FOMO was too much for me. I got in earlier this year..... within a week I had lost 25% of my investment.. got out... Felt stupid for ever getting in.Leave a comment:
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My bitcoin and Tesla indicator is still hobbling along. I guess when they both carc it, I should start to get worried.Leave a comment:
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Back to 10,000 per coin. Made a bet with my BIL a crypto bug that S+P will be higher than crypto in 2 years. I might lose?Leave a comment:
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I wouldn't be surprised at all if 50 years from now there is a cryptocurrency in regular use.
I think the likelihood of it being Bitcoin is very, very low.
Will you be able to exchange Bitcoin to that currency at a price at or above Bitcoin's current price at some point in the future after it becomes obvious that Bitcoin will not be the winner? Maybe, maybe not.Leave a comment:
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Can I take the bet that it’ll never go to zero? I may not be alive to win that bet but it’ll go to zero or cease to exist at some point like every other company around today. Time is undefeated.Leave a comment:
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It’s ok
Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle. Just like a slot mechine to me.
Its a fun bet as long as it’s money which you do not need. You don’t even have to travel to a casino.
At that point you’ve got to ask yourself if it is more fun than something else you spend money on. I can think of a LOT more fun ways to spend money than gambling with it.
It’s ok as long as it’s money you can lose and you can still do those fun things you mention. Plus bitcoin is not lose all or win like a casino. I don’t think it’s going to zero anytime soon or ever. It’s got a lot of supporters worldwide and plenty of market manipulation to keep it going ?Leave a comment:
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Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle. Just like a slot mechine to me.
Its a fun bet as long as it’s money which you do not need. You don’t even have to travel to a casino.
At that point you've got to ask yourself if it is more fun than something else you spend money on. I can think of a LOT more fun ways to spend money than gambling with it.Leave a comment:
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Forbes had a great article yesterday discussing the difference between systemic stability and price stability as it applies to Bitcoin, stablecoins like Libra, and actual central bank currency.Leave a comment:
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Bitcoin is kind of like Tesla in my book. I think the underlying technology will remain but I don’t think Bitcoin and Tesla will.Leave a comment:
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Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle. Just like a slot mechine to me.
Its a fun bet as long as it’s money which you do not need. You don’t even have to travel to a casino. It’s a nice diversifier. The kind we have always been looking for. It’s poorly correlated to markets and the price movements have no rhyme or reason for the most part. It has high upside potential for a small bet (huge downside as well).
For those who think it’s going to zero, I highly doubt it, There will always be greedy speculators all over the world and bitcoin has name brand recognition. By now people will have realized already that they’re trading turds back and forth and it’s price should have dropped to 0, but it hasn’t and likely never will. Plus most of it is owned by relatively few whales who will always manipulate the market as a backup
Never is a long time.Leave a comment:
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Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle. Just like a slot mechine to me.
Its a fun bet as long as it’s money which you do not need. You don’t even have to travel to a casino. It’s a nice diversifier. The kind we have always been looking for. It’s poorly correlated to markets and the price movements have no rhyme or reason for the most part. It has high upside potential for a small bet (huge downside as well).
For those who think it’s going to zero, I highly doubt it, There will always be greedy speculators all over the world and bitcoin has name brand recognition. By now people will have realized already that they’re trading turds back and forth and it’s price should have dropped to 0, but it hasn’t and likely never will. Plus most of it is owned by relatively few whales who will always manipulate the market as a backup ?Leave a comment:
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Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle. Just like a slot mechine to me.Leave a comment:
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