Topic: Man lost everything to Crypto - page 3. (Read 2835 times)
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.
It’s an important lesson that every trader must keep in mind. Just because you think that a certain strategy would work doesn’t mean that it will. You must keep patience and make sure that you don’t turn into a greedy trader who sees nothing other than profits. Control the way you trade by sticking to your trading strategy.
it's true I agree with you. a trader must be more careful in choosing and analyzing prices and crypto assets to be traded.Many cases of losses, failures experienced by traders because of greed and not being able to manage emotions properly.
they do not think long to analyze or study the character of the purchased asset and see the history of price movements of the asset.
Don't be greedy with crypto trading or investing. When you start trading or investing then you need to more patience. Cz every successful trader have more patience. Many trader lost their money their emotion.You need to control your emotion also.For newbie, You need to read more article books about trading.
The trader loss his investment in trading partly because he isn't yet an experience trader, trading without a Stop Loss as well as not Taking Profits appropriately due to greediness, I believe he was just trading blindly without any money management which is more or less like a gambler and in a bid to recover losses traded with emotions which culminated into more losses, this very common with newbies and inexperience traders mostly because majority refused to learn and a follow a clear route of becoming a successful trader via different resources especially Youtube, google e.t.c 
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
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
Very sad story, that is why we have to keep safe all information about our wallets. personally, I do write in a notebook all my secret phrases, key phrases, and all password of my crypto wallet. incase of an emergency I can still get back to my account and my asset. hopefully, this guy will recover from emotional damage.
The notebook will still be damaged, you need to keep it in a better place so that it lasts longer and only you and the people you trust can access it.
The story told by OP is sad indeed, his life was ruined due to a bad lifestyle, became a disaster because he lost access to his wallet.
His psychology has been disrupted and it takes time to recover.
I don't understand when you say that trading is betting, because basically it's doing or taking a risk, but betting is having only one opportunity, you lose or win, in trading only when things don't go well and if you lose it is that person's decision to do it, I would not leave unless it was with the same money that I entered or on the contrary, with more money than normal, people sometimes confuse trading with betting or gambling and that is totally false, there are basic ignorance.
It’s an important lesson that every trader must keep in mind. Just because you think that a certain strategy would work doesn’t mean that it will. You must keep patience and make sure that you don’t turn into a greedy trader who sees nothing other than profits. Control the way you trade by sticking to your trading strategy.
These kinds of things have become very common now-a-days. We need to be very careful and prefer crypto wallets that have multisig features to secure your cryptos.
really depends on the choice, there will be a loss if the choice prefers to risk rather than this investment is very appropriate with the topic statement. and I think it will only happen and will be chosen by people who have no knowledge or are (stupid).
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
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
Very sad story, that is why we have to keep safe all information about our wallets. personally, I do write in a notebook all my secret phrases, key phrases, and all password of my crypto wallet. incase of an emergency I can still get back to my account and my asset. hopefully, this guy will recover from emotional damage.
The notebook will still be damaged, you need to keep it in a better place so that it lasts longer and only you and the people you trust can access it.
The story told by OP is sad indeed, his life was ruined due to a bad lifestyle, became a disaster because he lost access to his wallet.
His psychology has been disrupted and it takes time to recover.
So his mindset was gambling and not treating it as investment. Plus I assume that he doesn’t know how to manage risks and isn’t knowing how to put an amount that he can afford losing. So it’s like he’s going all-in or put all of his savings into crypto trading without equipped himself with knowledge in managing his risks.
I feel sorry for that guy though. He’s not alone, as there are so many cases where traders losing a lot of money are ended up either depressed, committint suicide, rehabilitation, robberies, etc.
I feel sorry for that guy though. He’s not alone, as there are so many cases where traders losing a lot of money are ended up either depressed, committint suicide, rehabilitation, robberies, etc.
I agree with you. Some people don't really just know how to do risk management and budget their funds accordingly which is the reason why most gamblers get addicted in gambling. Some people don't know how to set boundaries and do not have the necessary self-discipline in order for them to know when to stop and when to continue playing. I guess this is one of the unfortunate reasons why some become so dependent in gambling even though it will cost them to go bankrupt and even have pile of debts in the long run.
It's really necessary and important to be mentally prepared before entering gambling whether it may be in the form of playing or investing. Because it has its risks and strategies and techniques are essential to survive and have profit over time. Winning and losing are normal occurrence in gambling, but we can minimize losses if someone is educated enough about something.
Any irresponsible moves are meant to met with equal disasters. NO one can save a mank drunk, drugged and loaded with money. Its a choice, make bitcoin a investment or gamble as you like.
What you could do is put on your beerhat and join the party.
Good morning. First day in the rest of your life.
If everything arises from the moment then it can't really be your fault.
If everything arises from the moment then it can't really be your fault.
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
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
Very sad story, that is why we have to keep safe all information about our wallets. personally, I do write in a notebook all my secret phrases, key phrases, and all password of my crypto wallet. incase of an emergency I can still get back to my account and my asset. hopefully, this guy will recover from emotional damage.
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
A person, no matter how expert they consider themselves, cannot be 100% confident with what they know because there will always be factors or details that can change any panorama and if they have a minimal flaw out there, everything can collapse, the person who lost everything It's because I had a lot of irresponsibility, if I have money I don't put it all to one thing, I think it's best to put the money in different things that generate it, in other investments, because no matter how perfect the movements are made, it can fail any system.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
There are also so many unforeseeable events that nobody can take into account when making a decision. Think about how many people were now surprised by the war and are in total shock because their business goes down the drain. The inflation also has something to do with crypto prices dropping as people have less money in their pockets to put into savings/investments. It is more about buying existential stuff like food and medicine and heating/electricity these days. Still though he is not the first one who lost it all. There are a couple of those stories.
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
A person, no matter how expert they consider themselves, cannot be 100% confident with what they know because there will always be factors or details that can change any panorama and if they have a minimal flaw out there, everything can collapse, the person who lost everything It's because I had a lot of irresponsibility, if I have money I don't put it all to one thing, I think it's best to put the money in different things that generate it, in other investments, because no matter how perfect the movements are made, it can fail any system.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
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. If we consider the neurobiological processes that comes into play. When you are winning in gambling a lot of dopamine is being released and it makes you feel good and happy. It is the same process that takes place when you are making profit in crypto-trading. You feel good. You feel happy. And you always want to feel that way isn't it? So you return to it and throw caution to the wind especially when you are low in emotional intelligence and then you lose.
Well said.As the crypto popularity spike high in elon musk crypto tweet shit era. A lot of newcomers throwing their own money into crypto business form mostly into trading and doing it randomly which in the end make it more to gambling instead of real trading practice, pretty misery situation and plenty cases like this popping up everyday even till now.
Im not surprised at all though.
If I should say my view concerning cryptocurrency no trader or nobody that invest in cryptocurrency is hundred percent sure of the money anything that occurs digitally does not be sure to the owner, cryptocurrency investment or trading investment say something of so anyone who is opportune to have benefits or profit will like to take another take or so I believe that any investment is that determine for risk.
It's all about how you approach and what you are doing. People are gambling all over the world. If there wasn't any crypto, people will find another way to get into this. He made crypto his way of gambling. Others who doesn't know about crypto, they are spending cash. That's all.
So his mindset was gambling and not treating it as investment. Plus I assume that he doesn’t know how to manage risks and isn’t knowing how to put an amount that he can afford losing. So it’s like he’s going all-in or put all of his savings into crypto trading without equipped himself with knowledge in managing his risks.
I feel sorry for that guy though. He’s not alone, as there are so many cases where traders losing a lot of money are ended up either depressed, committint suicide, rehabilitation, robberies, etc.
I feel sorry for that guy though. He’s not alone, as there are so many cases where traders losing a lot of money are ended up either depressed, committint suicide, rehabilitation, robberies, etc.
Any irresponsible moves are meant to met with equal disasters. NO one can save a mank drunk, drugged and loaded with money. Its a choice, make bitcoin a investment or gamble as you like.
Here the person involved into trading could've turned himself to be successful. In between he have got addicted to drug, alcohol which is the turning point in his trading life. As said the person have chosen the wrong choice, if not such a massive loss might've not taken place.
Frankly, I do not agree with this interpretation. As soon as the price falls, everyone immediately starts talking about losses. My question is the following - why are they silent when cryptocurrencies grow? After all, quite recently there was an increase almost twice.
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