Topic: Bitcoin Destroyed my life-bitcoin Investor (Read 1116 times)

You have not lost until you sell, unless you have been trading on marging or buying futures. Your life will continue in any case, money is not everything.

It is a pity that he did not have sound knowledge of cryptocurrency before delving into it with all his life savings. He just followed the crowd. But all hope is
 not lost all he can do now is just to hold as Bitcoin will still move up to his entry point and surpass it and he will be in profit. All he  needs now is patient.

Well that ur fault u cant balme it on bitcoin u should have invested more wisely and u shoould probably have known better to invest all of ur money u should atleast have some backup. like if it were me and if i had $1000 and if i wanted to invest i would probably have spent $750 first anf if things went south i would still have $250 left. so again i would chose to invest it. Hey thats just me. so for other people i would advise u not to invest all ur money at once have a little left as plan b

if an correct this publication was made November 25, 2017. If the man I question actually invested when price was around 1k, he must have made a good profit by now already. During the time of his publication bitcoin was around $17-18k+
I don't understand why he's complaining of bitcoin ruin his life.

If you  are new to  Crypto please take time and do some research on your own. Don't take everything people from the forum tells you, some are base on hypes. Do your own research so you won't have anyone to blame.

I recently heard about a Korean teenager that killed himself after loosing all his saving to Bitcoin. How many time do we have to say: invest only what you can afford to loose. And that means what you are emotionally prepared to loose.

You don't go all in into anything. You should always have a Plan B and Plan C in action and ready to go.

The story of the compulsive gambler is a sad one.  Don't let that be you!

Oh definitely, bitcoin cannot ruin your life, only you can ruin your life. It takes certain character to hodl when you have lost 30% of your investment. In other words, if you can´t take the heat, don´t go into the oven.

People can lose their savings if they panic at the slightest drop in price. In trade, the most important is psychology. We need to start with a small amount if everything goes well, then increase the investment!

And it is still happened. A 10k dollar worth of crypto and more.

Soon it will not just be bitcoin at the top.
This crypto currencies have gone to heights where no one have predicted of.
They still think it is all a joke.
Well then, they have their own opinions and belief. Let them be.

I don't feel sorry for these people in slightest. And I don't say I won't be tempted to do the same in that situation, I probably would do, cause FOMO is really really huge when you start researching crypto, and I am affected by it for 2 months str8. The point is, this is not a childish game, for most people, savings of money are nothing but a savings of hard work, sweat, tears, and blood.

For the most part, the crypto world is gambling till it reaches worldwide adoption, and that will happen for 10 years if everything goes well. Till then, this is just a gambling.

Exactly, and this is not only happening with bitcoin, a lot of people are always "bindly-investing" in this that they do not understand a shit.

I heard about a lot of people who bought IOTA at $4,80, and now they are there,with a price per IOTA or less than $3,50 each.

You need to verify and take care of everything before investing, of course.

Thats an old article from 3-4 years ago because thats when the price went down to 350$. It is actually kind of stupid to invest all your life savings in only one thing that has a big risk of not being successful like Bitcoin. I dont think he studied that much before investing in bitcoin, he just read some articles and random comments on the online forums wich is stupid. If he would have had enough experience(that means if he would research more as he said)than today his bitcoins would worth millions.

I hope this guy is in a better condition now.

Guess our common sense should tell us that investing in anything is a double edged thing. It can work out greatly and it could also go south completely. However I dont think that this story really is relevant now, because the guy went in pretty cheap, but he could not hold as long as he needed to or he wasnt believing enough in what he invested. I think that one should eighter only invest what he is totally okay with to loose completely or invest, but with a lot of confidence in the investment and then also stick to it in bad times. If the guy held onto his coins, he will be near to a millionaire now.

That's a 3 year old story - if the guy hodled he'd now be a millionaire. What's the problem, and why it we discussing it now?

On hearing some stories of people becoming rich by investing their money in certain instrument; Suppose I am haviing one dollar in my pocket and after hearing those stories invest in that investment; but in case the result is not to my expectations; then It is not the fault of any other people or the said instrument for which I suffered losses; but it will be definitely the fault of myself because I just ran after the  crowd instead of doing my own research and when the people running ahead of me started falling in the well and I also fell and injurred badly.  It is not the fault of that crowd ; it is my fault.
If I expect that my one dollar will be multiplied 100 times by the end of the year after investment somewhere; there must of certain solid reasons behind it or else it will be just speculation.  And if it is speculation definitely I must get ready to suffer loss too, because in speculation one person wins only if the other losses otherwise how he can win.

On the  other hand if my investment is being used for manufacturing; trading business then there will be some gains but it will be certain percentage of my investment not 50 or 100 times.  So if we are investing with speculative motives we must be get ready for losses too otherwise; do study; research before investing and invest only the savings which you can afford to loss.

hodl the door? hodor?

Unreal, moral of the story....HODL!

I think that the story is really bad, I mean as literature. However the message may be correct. Just invest what you can afford to loose. And that includes being able to loose it also in psychological terms.