Man lost everything to Crypto - page 2.

dataispower

sr. member

Activity: 1330

Merit: 289

Quote from: sensimilia on July 13, 2022, 09:21:45 AM

Quote from: pooya87 on January 20, 2022, 05:20:12 AM

This has been happening from the first day altcoin market started. A lot of newbies get into the market thinking they are experts after making a big profit when a shitcoin they bought gets pumped but obviously since they have no understanding of the market they end up losing all their money including the profit they made.
This case you posted about is the same with an additional addition on top which would have been better if you changed your topic title to "... lost to addition" instead.

Cryptocurrency is a very fast changing and uncertain market. Anything is possible at any time. Especially new traders who invest in it without realizing it are at a loss. If you don't have a detailed idea about this and trade without market research, the chances of loss are high. If you trade without realizing it, you see some gains at a time, but then they don't last.

cryptocurrency investment is an investment which comes with Wheelock especially when you study it very well before investing into it, I will say that while some people loss in cryptocurrency you because they have not known is strategies very well before invest in cryptocurrency so they are for anybody can loss for any investment both digitally and manually why in cryptocurrency investment the most to have a specific target and the time Factor before you invest but some people do not calculate while before the invest in cryptocurrency

tbterryboy

sr. member

Activity: 1890

Merit: 322

Quote from: Rigon on July 12, 2022, 07:47:54 PM

In fact, if people invest in cryptocurrencies wisely, they will not lose much.What I want to say from my experience is that I invested in BNB at a very low price, even though it increased a lot at one time, but I did not sell there. But now he has returned to his previous position.So I mean, just for lack of experience, I'm going to lose my funds today.If I had sold at the highest price without greed, I would have made a lot of profit today.Therefore, it is better not to sit for a long time if it is profitable to sell after investing.

When you are wise you will figure out that cryptos are risky because of their volatile nature, therefore you will not invest all of your life savings on it and when you invest you will not put all your eggs in one basket to greatly lessen the risk. Another thing is that we must not be greedy but we must sell as long we can or as long as there is an open opportunity like when the prices are rising. In your case you lose because you lack of experience but I think that was acceptable.

I bet you are more experienced now and you don't repeat the same mistakes again? You better should because money is hard to find and it's hard for us to accept once we lose it. The reason why we are here is because we want to earn and not to donate money.

CryptSafe

sr. member

Activity: 728

Merit: 421

Quote from: romero121 on January 20, 2022, 04:50:17 AM

Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio. In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life. In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.

Data : Man Lost Everything to Crypto

I think this would serve as a teacher and lesson to the newbies. You should know that Crypto is volatile and then trading do due diligence before embarking on it. Do well to trade or invest with funds or money you would not mind to lose ie use spare cash so that if you run at loss it would bother you in any way and when trading, trade with caution so as not to run as at loss.

In all, we have no clues how he lost his Crypto assets so it's uncertain the circumstances surrounding the situation on how it happened, when it happened and where it happened.

Lanatsa

hero member

Activity: 2786

Merit: 646

Quote from: Oneandpure on July 13, 2022, 10:11:14 AM

I think really general about OP writing because use losing everything in cryptocurreny. My mind when reading the topic think the men who talk here lost much money by investing in bitcoin, but exactly Stevem losing his phrase bitcoin wallet controlling. I am sorry to heard that but OP need to give add little on the topic about losing access with wallet not losing investment witj cryptocurrency, hope Steven can found way how he can recovery and get back his controlling to bitcoin wallet address. Hope he can sell his bitcoin and loss 6 until 10 bitcoin is much fund and faced bad situation if every one on Steven position.

Not really that accurate or correlating its title into its subject/content? Totally confusing for those noobs out there but for people who do have experience then they do able to spot out directly with that error.

You could really lose everything once you had lost your PK or access into your wallet which those coins had been stored on.Yes, it might be some in form of investment since everyone could opt out on accumulating
their coins on a single wallet but in overall its a possession which its just normal for you to take good care on whatever information you do need to keep to have access with those storages.

Neither you could still able to retrieve or access it out or would totally able to lose them all.

Oneandpure

sr. member

Activity: 2030

Merit: 306

I think really general about OP writing because use losing everything in cryptocurreny. My mind when reading the topic think the men who talk here lost much money by investing in bitcoin, but exactly Stevem losing his phrase bitcoin wallet controlling. I am sorry to heard that but OP need to give add little on the topic about losing access with wallet not losing investment witj cryptocurrency, hope Steven can found way how he can recovery and get back his controlling to bitcoin wallet address. Hope he can sell his bitcoin and loss 6 until 10 bitcoin is much fund and faced bad situation if every one on Steven position.

Pmalek

legendary

Activity: 2730

Merit: 7065

Farewell, Leo. You will be missed!

This is the first time I read about this case. I can't believe that a news site called "Live Bitcoin news" doesn't know the slightest thing about Bitcoin and reports that a person lost his "addresses" and now he can't recover said "addresses". He had some success with trading in the beginning but as he was greedy and showed gambling-related disorders, he invested more than he could afford to lose and lost. That's all on him and not on Bitcoin.

He says that trading Bitcoin is "high-risk". He is right above that. Trading isn't for everyone despite it being available for everyone. Blaming advertisements for your misfortunes is pitiable. It's not my fault I lost my crypto, there was an ad on the bus that tricked me...

sensimilia

sr. member

Activity: 702

Merit: 251

Quote from: pooya87 on January 20, 2022, 05:20:12 AM

This has been happening from the first day altcoin market started. A lot of newbies get into the market thinking they are experts after making a big profit when a shitcoin they bought gets pumped but obviously since they have no understanding of the market they end up losing all their money including the profit they made.
This case you posted about is the same with an additional addition on top which would have been better if you changed your topic title to "... lost to addition" instead.

Cryptocurrency is a very fast changing and uncertain market. Anything is possible at any time. Especially new traders who invest in it without realizing it are at a loss. If you don't have a detailed idea about this and trade without market research, the chances of loss are high. If you trade without realizing it, you see some gains at a time, but then they don't last.

yazher

hero member

Activity: 2184

Merit: 585

You own the pen

Quote from: Fireebrand on July 13, 2022, 06:32:16 AM

You need to put a limit to how you trade and how you want to move forward. The market doesn’t put conditions on how you should trade. It’s you who has to see what you can afford to lose and plan your moves accordingly. Nothing comes naturally and you will have to decide all that you want to do.

That's why we need to consider setting up some limits to our habits because when money involves, all our limbs will feel the pain if something is not right will happen. What I mean is, that we will suffer some mental illness where we became so anxious that all we think is how we gonna get back what we have lost. Therefore, this kind of story should motivate us cause no matter how lucky we are in our life, there comes a time when we face some trouble especially when trading and the crypto market nowadays are not looking good, and to chill up a little bit is a must whenever we feel the day is not for us.

Fireebrand

newbie

Activity: 21

Merit: 1

You need to put a limit to how you trade and how you want to move forward. The market doesn’t put conditions on how you should trade. It’s you who has to see what you can afford to lose and plan your moves accordingly. Nothing comes naturally and you will have to decide all that you want to do.

CryptoHeadlineNews

hero member

Activity: 896

Merit: 653

Quote from: Charles-Tim on January 20, 2022, 05:22:24 AM

He would have made enough profit supposed he stick to bitcoin rather than trading.

This is the very problem I have with most people who called themselves self trained crypto traders and enthusiast, as they all have this mindset that it will be hard for Bitcoin to go 10x or 20x again within a month or year, and as such choosing to go after Altcoins who as tendency pumping in price so they could make profit and also risk of dumping in price too and you loss your funds, which makes trading Altcoins risky, especially Bitcoin/Altcoin pairs, which am sure that was what Mr.Steven did and lost over 5 to 10 bitcoin.
But thou it's profitable but also risky

Stacaato

newbie

Activity: 17

Merit: 0

You have to be really careful while using and keeping your cryptocurrencies. Just because you have a feeling that something will turn out to be a good option doesn’t mean that it will. You must always analyse every possibility and ensure that you are not doing something that is beyond your understanding.

Rigon

sr. member

Activity: 994

Merit: 441

In fact, if people invest in cryptocurrencies wisely, they will not lose much.What I want to say from my experience is that I invested in BNB at a very low price, even though it increased a lot at one time, but I did not sell there. But now he has returned to his previous position.So I mean, just for lack of experience, I'm going to lose my funds today.If I had sold at the highest price without greed, I would have made a lot of profit today.Therefore, it is better not to sit for a long time if it is profitable to sell after investing.

Dunamisx

hero member

Activity: 854

Merit: 539

★Bitvest.io★ Play Plinko or Invest!

Quote from: Davidvictorson on July 02, 2022, 08:34:23 AM

He trained himself to be a trader but missed out on one of the most important aspects of crypto-trading, emotional intelligence. To a degree trading is like gambling.

Definitely one will make loss of bitcoins if the knowledge to trade or invest is not there for everyone to see and learn from, as i can see it, this does not applied only to bitcoin alone, other cryptocurrencies has the higher risk in this manners to make investor's to fry overnight, that's why when I see a gambler i pity them because all they have lost is more bigger than the winnings they have realized.

dunfida

legendary

Activity: 3080

Merit: 1131

Quote from: yazher on July 12, 2022, 06:41:21 AM

Quote from: GeraldTucker on July 12, 2022, 02:03:06 AM

Have a good understanding of the crypto market, study the cryptos and then invest in the potential coins. It is not gambling. Betting doesn’t require knowledge, it is just a mere anticipation.

He just became addicted and sadly lost everything before he realized he made a huge wrong decision with his life. such a thing is hard to resist especially when you have all the means to do so because the more money you lost, the more you are eager to win it back and you end up spending more money to play than before. gambling addiction is really serious that's why you need to take the first step to heal yourself once you feel that you already exceeded the limit because if you go any further, the consequences will really hurt you.

Regret do always come at the end and its would never be happening ahead thats why you should be always be mindful in regarding with your actions whether it would give out positive effect or negative ones.

You should think twice or thrice before pushing your action if you do see that it would resulted on getting wrekt then you should avoid on doing that.On any investment then you should really be thinking that
everything does have risk thats why proper management would really be that crucial.Dont ever rush up things on making decisions because that would surely cost you.

Risk on the amount which you can afford to lose but ofcourse you should apply some strategic or plans for you to utilize yourself for making your investment to have potential.

yazher

hero member

Activity: 2184

Merit: 585

You own the pen

Quote from: GeraldTucker on July 12, 2022, 02:03:06 AM

Have a good understanding of the crypto market, study the cryptos and then invest in the potential coins. It is not gambling. Betting doesn’t require knowledge, it is just a mere anticipation.

He just became addicted and sadly lost everything before he realized he made a huge wrong decision with his life. such a thing is hard to resist especially when you have all the means to do so because the more money you lost, the more you are eager to win it back and you end up spending more money to play than before. gambling addiction is really serious that's why you need to take the first step to heal yourself once you feel that you already exceeded the limit because if you go any further, the consequences will really hurt you.

boyptc

hero member

Activity: 2982

Merit: 678

★Bitvest.io★ Play Plinko or Invest!

Quote from: GeraldTucker on July 12, 2022, 02:03:06 AM

Have a good understanding of the crypto market, study the cryptos and then invest in the potential coins. It is not gambling. Betting doesn’t require knowledge, it is just a mere anticipation.

I guess it's all about the risk that he said about gambling and both has it especially in trading which is higher.

Quote from: gunhell16 on July 12, 2022, 03:43:29 AM

From what I read in the story of what happened to Steven, he did something negligent. I don't know if it happened that he forgot the address where he entered the 5-10 Bitcoins, that's a huge amount even if we say that the price is low at the moment. What is that, he forgot what private key, password, phrase? not clear how lost? because if it is said that he just forgot the address, it means that it is possible that his Bitcoins are not lost, they just can't be opened because he just forgot what address he entered.

If he has already forgotten the private keys then his bitcoins are lost forever and can't be retrieved. But if by some lucky incident and he remembers it.

He can always take it back and import the keys again.

gunhell16

sr. member

Activity: 1666

Merit: 453

Quote

This isn’t bad for someone with limited educational means. Unfortunately, Steven has lost virtually everything to his crypto addition, which he likened in a recent interview to a gambling addiction. He says, crypto, drugs, and alcohol ultimately took over his life, and now he’s trying hard to get back up.

In the beginning, Steven appeared to know what he was doing. He had a talent for crypto trading, but ultimately wound up losing the addresses of around five to ten bitcoins, which would be worth more than 300,000 pounds today. He doesn’t know where the addresses are and has no idea as to how to recover them. He says:

From what I read in the story of what happened to Steven, he did something negligent. I don't know if it happened that he forgot the address where he entered the 5-10 Bitcoins, that's a huge amount even if we say that the price is low at the moment. What is that, he forgot what private key, password, phrase? not clear how lost? because if it is said that he just forgot the address, it means that it is possible that his Bitcoins are not lost, they just can't be opened because he just forgot what address he entered.

Also, I do not agree that Crypto trading is the same as gambling, for me it is a big mistake because trading does not have different games that you can play and then in gambling you do not have on the other hand technical analysis, which is called versus trading, has already made the difference between them.

GeraldTucker

newbie

Activity: 15

Merit: 0

Have a good understanding of the crypto market, study the cryptos and then invest in the potential coins. It is not gambling. Betting doesn’t require knowledge, it is just a mere anticipation.

bestcoins1

hero member

Activity: 2184

Merit: 718

Quote from: QuoteColo_Sean on July 11, 2022, 07:58:50 AM

He was addicted to the thrill. You cannot just dive into crypto without any knowledge about it. This man was a gambler, not a crypto genius. Be smart people.

Whatever thing you want to do, it must always be balanced with mature knowledge because someone is often wrong in stepping when he doesn't have the knowledge to do the work he wants. So getting knowledge first is the main thing to think about before entering the crypto space or into other jobs that can be very profitable when done correctly.

Masplanc

member

Activity: 798

Merit: 34

He was too desperate to make earning, he should have know that trading is very risky and putting all the money you have in trading is not a guarantee to make profit in it, and if time is not taking if the market price falls it can happen to be the lose. Cryptocurrency is not scam , the mistake was from him.

Topic: Man lost everything to Crypto - page 2. (Read 2835 times)