Man lost everything to Crypto - page 6.

Ryker1

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Eloncoin.org - Mars, here we come!

Quote from: e_abrams on February 04, 2022, 11:20:23 AM

Frankly, one should avoid even casual alcohol use while trading. I generally don't drink to begin with, I can't even imagine drinking while trading. That would be a very poor choice.

Well that is a big mistake if you do that.
Though everyone experiences downtimes in trading, which is normal -- and it is up to you whether you stay with it and linger on it for a long time or move on as quickly as possible because we are aware of the risks that come investing in this type of business. However, when we earn a large sum of money, most of us become dissatisfied and turn to gamble, where we become hooked, which has a negative impact on our business and causes us to go bankrupt. And when we lost everything, we prefer to blame trade for everything. This could be a valuable lesson for all investors to learn.

e_abrams

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Quote from: Hamphser on February 01, 2022, 03:14:21 PM

Quote from: e_abrams on February 01, 2022, 02:02:15 PM

Trading becomes gambling when one doesn't know what they are doing. It takes a lot of knowledge to trade successfully. And if this unfortunate person was mixed up with drugs, I don't think cryptos were the reason for his downfall.

We know that if you do deal up with drugs then it would really be just normal that you would really be on a certain state on which you couldnt really think off well or generally speaking to be on your own self.

This is why its not really good on dealing up something when you are influenced by something and drugs isnt something that could really be removed out easily and trading does need lots of focus
and knowledge for you to sustain out.If you do trade but you are having some drug problems then i could say that this is the root of all problems.

Indeed. Frankly, one should avoid even casual alcohol use while trading. I generally don't drink to begin with, I can't even imagine drinking while trading. That would be a very poor choice.

macson

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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

for losing traders they will say bitcoin trading is a dangerous addiction....in fact those who profit from trading Bitcoin say Bitcoin is a miracle that makes them profit fast. if trading with emotion and not using strong analysis then that person is gambling not trading, hopefully he can learn from his mistakes and don't keep blaming Bitcoin for the losses he gets because it's a pure failure of the decisions he made.

Mr.sprin

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Quote from: rodskee on February 04, 2022, 06:01:14 AM

Quote from: Mr.sprin on February 04, 2022, 04:44:01 AM

I firmly believe that humans lose everything because crypto is human error itself

What? human error crypto? t least you know what this means right?

Quote

because it is greedy,

Greedy is an attitude and that is not the crypto itself .

Quote

many humans who have profited in crypto they study and analyze before choosing the coin they want to invest in, many of them have been successful at this time.

Those who earn and still earning from crypto(like me) are the type of people who knows the limit and knows where to stop and buy.

What I mean by greed is humans who lose their assets because of crypto,
I didn't mention human error crypto.
you are a smart person in trading you know when to buy and when to sell.

rodskee

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Quote from: Mr.sprin on February 04, 2022, 04:44:01 AM

I firmly believe that humans lose everything because crypto is human error itself

What? human error crypto? t least you know what this means right?

Quote

because it is greedy,

Greedy is an attitude and that is not the crypto itself .

Quote

many humans who have profited in crypto they study and analyze before choosing the coin they want to invest in, many of them have been successful at this time.

Those who earn and still earning from crypto(like me) are the type of people who knows the limit and knows where to stop and buy.

Mr.sprin

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I firmly believe that humans lose everything because crypto is human error itself because it is greedy, many humans who have profited in crypto they study and analyze before choosing the coin they want to invest in, many of them have been successful at this time.

Albescent

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@Uneng I agree. Despite the Cryptocurrency market being highly volatile, there are many chances of earning profits.
One needs to have proper knowledge and understanding about the crypto before buying it. Don’t just go with the hype and only choose coins with real world usage.

acener

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Not really shocking or at least new to me,
Remember that this is an investment and there's always a risk,
This isn't the first time that an investor lost everything due to their greediness and I am sure that it won't be the last.

Maestro75

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Quote from: davis196 on January 20, 2022, 08:07:30 AM

I don't think that drugs,alcohol and crypto destroyed his life.His addiction destroyed his life.His addiction is his own internal problem.Putting the blame on external factors(drug,alcohol,crypto) is not the right path for curing his addictions.
Trading can be turned into gambling,if you have no risk management and you always go for the high risk leverage trading.The lack of emotional control can ruin everything for every trader out there.

His addiction to what he felt were his enjoyment ended up destroying him and no one should blame anything for that. It is his fate and he should face it. How do people become reckless with substance and at the same time go into trading and investment. Anyone who does that would not be able to do all with clear and calculated attempts and that will result in many mistakes. That is what destroyed him. Next time he will learn not to, that is if he survives this.

Hamphser

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Quote from: e_abrams on February 01, 2022, 02:02:15 PM

Trading becomes gambling when one doesn't know what they are doing. It takes a lot of knowledge to trade successfully. And if this unfortunate person was mixed up with drugs, I don't think cryptos were the reason for his downfall.

We know that if you do deal up with drugs then it would really be just normal that you would really be on a certain state on which you couldnt really think off well or generally speaking to be on your own self.

This is why its not really good on dealing up something when you are influenced by something and drugs isnt something that could really be removed out easily and trading does need lots of focus
and knowledge for you to sustain out.If you do trade but you are having some drug problems then i could say that this is the root of all problems.

doomloop

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Quote from: virasog on February 01, 2022, 12:48:42 PM

Crypto trading or investing is not gambling. If anyone treats crypto as gambling then it is their fault and they will have to face the consequences.
People think that they will make millions in crypto overnight and whoever come into crypto with this mindset, it's obvious that he/she will lose the money.
Crypto trading is a proper skill and if anyone does it without learning, then he will only lose money.

I think they are still considered as gambling because there is a money at risk and they also require some luck because there are no accurate predictions in crypto but investing and trading are obviously better compare to the literal gambling because it is possible to recover on here as long as you are patient enough.

People that have an easy money mentality are the ones that treats gambling as a money making machine and not a tool to make them entertained this makes them loose more, same thing can happen to them in crypto if they carry that kind of mentality in here. In order to be rich one must face the struggle first to learn and improve.

e_abrams

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Trading becomes gambling when one doesn't know what they are doing. It takes a lot of knowledge to trade successfully. And if this unfortunate person was mixed up with drugs, I don't think cryptos were the reason for his downfall.

DanWalker

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

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.

Lol, this is how noobs are expelled from trading. foolishness makes you overconfident, and overconfidence makes you insane.
There is a great saying that Grapes are Sour,, Cheesy

Without the proper knowledge, any action is harmful, not only trading.
Where the pro-trader is struggling to speculate & estimate the market movement, he is claiming to be a trader with only two days of trading, how funny is that.

goldkingcoiner

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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

Im not quite sure what to make of this story. He lost his addresses? Or he made bad trades? Because if he is a good trader who just lost his addresses, that does not really say much about him having an addiction problem. But from the context of the story I am guessing he made bad trades that lost him those addresses?

A bit confusing, however either way it just goes to show that anything can be addicting and anything can lead you to make bad, emotional mistakes.

Except if you hodl. Hodling is the way to go, in my eyes. Grin

cryptobuyclub

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Gambling while trading crypto is the worst thing anyone can imagine.
Its like Risk*100

virasog

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Quote from: lenovop-70 on February 01, 2022, 11:12:03 AM

I'm sorry with what happened to the poor guy in the article above, and I think that's how it is, if someone with a gambler mentality enters the world of trading. So it should be underlined first that we the traders are not gamblers, we are full of calculations in our steps, have relevant data based on facts, and do not act based on speculation like gamblers in general.
Also, a professional trader never makes large purchases in one type of coin, in essence, we break down risk into stages and types of purchases in each transaction, so, we are definitely not gamblers under the guise of traders.

Crypto trading or investing is not gambling. If anyone treats crypto as gambling then it is their fault and they will have to face the consequences.
People think that they will make millions in crypto overnight and whoever come into crypto with this mindset, it's obvious that he/she will lose the money.
Crypto trading is a proper skill and if anyone does it without learning, then he will only lose money.

lenovop-70

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I'm sorry with what happened to the poor guy in the article above, and I think that's how it is, if someone with a gambler mentality enters the world of trading. So it should be underlined first that we the traders are not gamblers, we are full of calculations in our steps, have relevant data based on facts, and do not act based on speculation like gamblers in general.
Also, a professional trader never makes large purchases in one type of coin, in essence, we break down risk into stages and types of purchases in each transaction, so, we are definitely not gamblers under the guise of traders.

bitterguy28

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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

No one can be blamed from His own stupidity , it is His own Mistake and not by anyone .

Addicted to trading is like addicted to gambling , so one wrong decision will bring you down hard and that is what happened to the mentioned guy.

I hope that we will all use this as reference for our own crypto dealings to never become addicted in any ways.

andriarto

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Learning how to trade properly is not easy, and we must be able to communicate with ourselves. therefore there is no term to finish studying. of course there is something wrong with him to spend his money, because many people also make trading as a support for their lives, why can't we look in the mirror from them, I think he has a bad mentality so he slumps

Obito

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Quote from: 9-planet on January 29, 2022, 09:39:16 AM

Crypto is not Gamble, it depends on individual difference of making use of it as bitcoin is an digital currency and it can be used at any where, either in gambling platform or trading platform, as for the lost, man see it as gamble.

Well, the decision was a gamble though and it didn't pay off so the man ends up losing everything. Investing is closely related to gambling although you can easily make sure that you're going to win your investments rather than in gambling where most of the time, you rely on where the number lands and hopes that it's your number.

Topic: Man lost everything to Crypto - page 6. (Read 2835 times)