Another example is how greed destroy crypto investors. - page 5.

Jackl87

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Quote from: The Cryptovator on May 30, 2022, 11:08:48 PM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Sorry to hear that OP but i think stuff like that happened to most people that are active in the crypto space before. I did not make the same mistake as you did but i made other mistakes. For example i took part in a few private sales in 2020 and in early 2021 because i am part of a few launchpads and in May of 2021 my portfolio had significant value at least for my standards but of course i did not sell and today my portfolio has only like 2 or 3% of it's ATH value from back in 2021.
Also i sold my waves when they were at around 50$ each which was a good sell obviously but i wanted to buy them back once they are below 4$ but now yesterday Waves took a jump from 4$ to above 8$ at the moment so i already regret not buying back at 4,50$, but that is how it is.
I also don't buy waves now i just wait. If it will not fall again i have just missed that opportunity.

cryptoaddictchie

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Quote from: The Cryptovator on May 30, 2022, 11:08:48 PM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Can I know whats the project name? Actually Ive got what youre feeling. I had too many regrets not taking profit on some of my shitcoin activity that supposedly gain some good and decent one but not able to monetize due to my greedines. This is really a tough to mustard when it comes to crypto since we want more and we cant be contended to what we already have. Some say sorry is not sorry. But thats life in crypto either you lose it or win it.

Argoo

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Quote from: The Cryptovator on May 30, 2022, 11:08:48 PM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

I think that participants in this market quite often face a similar situation. It is very difficult to predict the price movements of cryptocurrencies, and especially new tokens. Therefore, I consider this situation almost typical. If we don't take risks, we won't make a profit. The only thing we can do is to study the general movement of the market and the specific project whose cryptocurrency we are interested in. Then there will be fewer such failures, but they will not disappear anyway.

inanilujimi

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This is what I'm afraid of if the tokens are not listed on a centralized exchange at the time of listing, they will simply walk out and scam investors.
I prefer to choose the lauchpad that is on the exchange, even though sometimes the profits are not as expected.

crwth

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Isn't this like those multilevel marketing/pyramid schemes type of effect? It might not have the same concept, but the initial feeling that you get whenever you get a successful trade or gain in a particular asset would make it seem that you will get something even better in the long run. Hence, keeping your money at the start makes it ideal, but then it's just a losing position for you.

I think the big letter "G" on everyone's head would make you lose a lot more than you are willing to, and that's just how many people get down and fail with their financial stuff.

I agree that this would make it seem that you have lost everything, but no matter, don't think about it too much and move on. Everyone who has experienced this, including me, has and should've learned their lesson with this.

Kunnu

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Sorry to hear about your loss I admit that being too much greedy is not healthy at all unfortunately most of the people in crypto industry are investing their money by falling in greed they don't consider to find out the advantages and disadvantages of the projects before investing in them although it's very hard to ignore greed in crypto space nevertheless we must invest according to our risk management and I believe in this case you will have done that.

sunsilk

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Quote from: The Cryptovator on May 30, 2022, 11:08:48 PM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Thank you for sharing your experience, this means a lot not just for the newbies and also the old investors like me that sometimes in doubt and thinking of what I shall do when I want to invest and also when I'm already in profit.

There really are experiences like this that makes us want to be simple and be happy with any amount of returns and profits that we make. That means that any profit we make, counts as profit no matter how low or high it is.

jrrsparkles

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Another lesson we can take away from this incident is we have to diversify the profits into another projects not into the same old basket unless it is bitcoin in my opinion, if you did that you might saved atleast 50% of your capital amount which was the profit you made initially in the same project.

Fundamentals Of

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Thank you for the reminder. Unfortunately, people have the need to be reminded every so often about taming their greed. You are an example. You must have been very much aware of this kind of market. But still you fell for it. So this is not just a mistake that is committed exclusively by newbies. Even a legendary sometimes makes this error.

Greed is always around the corner. It is always a threat. It is always there tempting us to make the wrong move. It's great to be reminded of this once in a while. And for people to avoid committing the same mistake.

South Park

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Quote from: The Cryptovator on May 30, 2022, 11:08:48 PM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

I sorry this has happened to you and you lost your investment, unfortunately this is something that happens almost everyday, scammers spend all their time and effort to try to make their project seem as legitimate as they can, however there is nothing inside, so people think that they are investing in a project that is serious when they could not be further from the truth, which in return creates a very negative attitude against altcoins and projects which are legitimate are the ones that have to pay the price and face great difficulties trying to attract investors, as the more people get scammed the more reticent they will be to ever invest in the altcoin market again.

The Cryptovator

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A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Topic: Another example is how greed destroy crypto investors. - page 5. (Read 805 times)