Man lost everything to Crypto - page 8.

pushups44

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Quote from: romero121 on January 20, 2022, 03:50:17 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

If the title were "Man Lost Everything to Daytrading," this would not raise any eyebrows. It is often said that 95 percent of traders lose. Recently a friend confided to me he lost $100,000 in forex. So cryptocurrency trading is just one means of gambling addicts to get their fix (and not all traders are addicts).

wilb2021

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My story is a little bit different, i lost over $25000 to a fake investment platform i was introduced to on twitter. Luckily for me, it only took me a week to get the funds back with the help of this team called vtechforensics on Telegram. At first i thought it was impossible to recover the money but they made it happen so if you have lost your crypto as a result of loss of passcodes, pass phrases or deceptive investment scams, vtechforensics is a viable solution.

terrorJR

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Quote from: coolcoinz on January 22, 2022, 09:42:09 AM

Quote

Trading is gambling. There’s no doubt about it.

You can already see he's biased and full of regret. Trading is not gambling, but it's not for idiots either. You can be a trader who trades with 10% of his money, waits for a big positive signal to buy and a trully negative signal to sell. Like when you buy after the price breaks the old ATH and don't trade with leverage, that's pretty smart. Holding long term and exiting with some money every time the price goes 2x is also smart. Going in with all your money on a trade with 20x leverage is the fastest way to a homeless shelter or a rehab and this guy is a living proof.

From the case here, it's not just about trading that ruined him, but alcohol and drugs that made him like that.
As for trading, I think he's just looking for excuses about the effects of alcohol and drugs that make him addicted.
technically things like this actually have no correlation but indeed I really agree with what you said even though it is indeed very far-fetched but trading is not for stupid people Grin

qwertyup23

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Quote from: romero121 on January 20, 2022, 03:50:17 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

This is just very devastating to hear since most news that we hear revolve around people who profit greatly from investing into BTCs. That is, however, the risks associated when you trade your cryptocurrencies without practicing self-control or having at least a contingency plan on the amount that you willing to risk. Sine he lost around 5-10 BTCs, he should have at least stopped or decided to accept the loss instead of just losing everything in the process.

Though traders are well-equipped with knowledge and experience on their craft, this type of example solidifies the risks associated with drinking. Not to mention, his addiction to alcohol probably affected his decision making skills that ultimately lead to his demise.

asus09

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Humans have lost everything because of bitcoin, all these accusations don't make sense, bitcoin is not illegal, but you seem to accuse cryptos of being like people who are addicted to gambling, and are addicted to drugs, even though we know no one has lost everything because of playing crypto ,

Gamerholic

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We use such a formula as "alcohol + drugs" - whatever you add there - you get something bad or similar. Investing is a serious matter and a process that requires focus, planning and mental resilience that cannot be achieved by drinking and drinking. Sorry guy, but this is a good lesson for others.

savetheFORUM

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Quote from: Ozero on January 22, 2022, 02:26:04 AM

Anyone who treats cryptocurrencies as a game of chance, of course, will most often suffer losses when trading it. Especially if you combine this type of activity with alcohol and drugs. Then the chances of making a profit in cryptocurrency are almost zero. When working with cryptocurrency, there is a certain amount of risk and a certain amount of luck. However, this is the same type of financial business as the others. And here knowledge, experience, a sober mind and cold calculation are needed.

This is quite bad, because the media would now say that what ruined this man’s life was cryptocurrency, while it is clear that it wasn’t even cryptocurrency, rather he must have been under the influence of the drugs he is taking to have made a huge mistake like this. Like you said, crypto currency trading is something that requires knowledge, experience and a sober mind to be able to carry it out.

If you are under the influence of drugs and alcohol, then tell me how you would have the control over your mind to be able to make good calculations? And moreover I’m still trying to understand how he ended up losing 5 to 10 bitcoins, wasn’t he aware that he should be managing his risk properly? Cryptocurrency shouldn’t be seen as a game of luck, it is not gambling, except for those that misunderstands it.

adzino

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Quote from: romero121 on January 20, 2022, 03:50:17 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 should have only invested what he could have afford to lose. He probably wanted to get rich over night, got greedy and lost everything. But what do you mean by he don't know any information about the addresses? Did he end up sending his 5-10 BTC to a wrong address or something? Then yeah, it is almost impossible to recover those bitcoins. It is lost forever.

Quote from: romero121 on January 20, 2022, 03:50:17 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.

Everything you do is gambling if you don't know what you are doing.

Gasty4

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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
[/quote]

This life is nothing but gambling, you don't take risk? Then you'll might end up in the same state you found yourself.
But then I think the has or added no strategy to his trading, discipline also.... getting money is a good thing but then they're nothing with characters and attitudes.
Hope he gets better, ain't no fan of drugs no matter what it takes, I won't and Don't just advice any to take such.

coolcoinz

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Quote

Trading is gambling. There’s no doubt about it.

You can already see he's biased and full of regret. Trading is not gambling, but it's not for idiots either. You can be a trader who trades with 10% of his money, waits for a big positive signal to buy and a trully negative signal to sell. Like when you buy after the price breaks the old ATH and don't trade with leverage, that's pretty smart. Holding long term and exiting with some money every time the price goes 2x is also smart. Going in with all your money on a trade with 20x leverage is the fastest way to a homeless shelter or a rehab and this guy is a living proof.

BitcoinAccepted

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I don’t understand how crypto was directly linked to drugs and alcohol in this matter, and how it became one of the reason why that man lost everything. If it’s about losing all assets within the crypto market, then that would probably be accurate somehow. However, if he is really a good trader then how come this happened? In my opinion, maybe the man has addictive personality, like he’s getting hooked at anything he does, especially if it gave him pleasure or the satisfaction he wants. And maybe losing everything to crypto was brought upon his greed. I sympathize with what this man have experienced, but we have to smarter in making life decisions.

BuNga_cute

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Quote from: Sebas.tian on January 22, 2022, 08:14:41 AM

Bitcoin is different from other fiat business because it hard to correct what you have already accepted or send to someone at a moment in bitcoin transaction. That is why your soul and your body must be what you are about to sell or buy with bitcoin so that you will not lose your future. The man lost everything because he see his self as someone that has around or as someone that is a professional in everything in life. Drinking alcohol when trading cryptos is very bad for any investors who want to become successful in profit making in the community.
The man should know that there is time for everything in life, time to flex and time to be more serious with crypto business.

We have to be careful when trading Bitcoin, because the risk of trading Bitcoin is very high. Especially when drunk, it is not recommended
to trade Bitcoin, because in a conscious state it is quite difficult to trade Bitcoin. Avoid drinking alcohol when going to trading, we must be
in full awareness to be able to make the right decisions. Don't blame Bitcoin if we suffer losses and end up losing everything, which is to blame ourselves.
Because so many people are successful when trading Bitcoin, if we don't succeed, it means that there is something wrong with the strategy we are using.
Sometimes we have to learn from the experiences of others, who have succeeded in making a profit, to find out how to succeed.

Hypnosis00

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Quote from: romero121 on January 20, 2022, 03:50:17 AM

In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins.

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

If he knows what he does, he ain't got addicted in the first place but too sad to let his addiction fool him and that's it, it ruins everything he has, the good life and money.

I'm not sure if that person is able to change his approach towards trading. Might he was right that it was like gambling, but that seems different when if you just relying on luck which gambling have than trading which requires knowledge and skill.

Honestly, he got it wrong and mismanaged his funds plus his emotions which I think was the main reason for his failure, he can't call himself a good trader.

el kaka22

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How exactly does crypto currency, alcohol and drugs relate? From what I’ve understood from the story you have told here, it wasn’t cryptocurrency that ruined this man’s life, rather it was the alcohol and drugs he was taken. Alcohol and drugs can be really bad, and I believe that is what might have led to his downfall, and not even cryptocurrency.

When you are addicted to drugs and alcohol, these two things can ruin your senses, and lead you to doing things that you least expected to do. When you are under the influence of drugs and alcohol, how exactly would you know what you are even doing? you would even make mistakes that will ruin your life. This is why people are advised to stay away from drugs and alcohol.

Even if you want to take these things, they shouldn’t be things that you’re addicted to and taking all the time, because they will affect you negatively. I can’t see how someone who has learned how to trade cryptocurrency, and is good at it would all of a sudden lose up to five to 10 bitcoins, if not that they were under the influence of drugs. So, cryptocurrency wasn’t what ruined this man’s life, it was drugs and alcohol.

Sebas.tian

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Bitcoin is different from other fiat business because it hard to correct what you have already accepted or send to someone at a moment in bitcoin transaction. That is why your soul and your body must be what you are about to sell or buy with bitcoin so that you will not lose your future. The man lost everything because he see his self as someone that has around or as someone that is a professional in everything in life. Drinking alcohol when trading cryptos is very bad for any investors who want to become successful in profit making in the community.
The man should know that there is time for everything in life, time to flex and time to be more serious with crypto business.

peter0425

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Quote from: Ozero on January 22, 2022, 02:26:04 AM

Anyone who treats cryptocurrencies as a game of chance, of course, will most often suffer losses when trading it.

Yeah that is indeed right , market must be treated seriously and not just a game to play without being careful .

Quote

Especially if you combine this type of activity with alcohol and drugs.

exactly , this will lead to something with different decisioning that will lead to losses like what OP did.

Quote

in trading if someone makes a profit, someone else must suffer losses.

for someone to earn, others need to Lose that is trading and yes this is what we must understand

oemar bakrie

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not everything will happen like that.from the lessons of bad experiences maybe we can learn and we also need to do good habits and always be careful in responding or taking the right steps to be a successful trader..
.I hope that nothing will happen more,everything must go according to our ability and don't force it.

Similificator

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This is so unfortunate. This guy is well versed in what he does and still ended up in such a state while some lucky people don't even know what they are doing but raked in millions of dollars. You just gotta have to laugh at life when seeing all these sht. Meanwhile, I also saw a video on tiktok where a guy is having his tantrum over lost college and all funds saying his life is over while cursing at bitcoin. Seems that things are worse for him than the guy in your post. This is a lesson for small jewbie plebs out there.

Gyfts

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Quote from: Vaculin on January 20, 2022, 03:32:46 PM

Quote from: Gyfts on January 20, 2022, 02:36:51 PM

Quote from: romero121 on January 20, 2022, 03:50:17 AM

drug, cryptocurrency and alcohol

I corrected the OP, we can blame drugs and alcohol for ruining his life. Had it not been crypto, it would have been something else to gamble on as he fed his drug/alcohol addiction. I'm rather surprised it isn't in your title, but I suppose we need to blame crypto currency for someone making bad choices in life? Even absent of the drugs and alcohol, people make poor choices. It's not fair to attribute those bad choices on anything than the individual themselves.

Knowing he's addicted into drug and alcohol, then i don't think he can still be good into crypto as this needs more focus and determination so you can be successful in it. He has lost everything in crypto because he is not capable to manage rightly his investments because people like him are more of impulsive and has no patience to wait for the perfect time to make profits. So crypto has ruined his life indirectly, but its more on of his addiction that put him where he is right now.

But it is not even an indirect factor. What was the causal factor of this person ruining his life? It's his own addiction to drugs and alcohol. Blaming crypto for this is like blaming the car when a drunk driver gets into an accident and kills an entire family. It was the person consuming alcohol that was the issue, not the vehicle.

And notice how this story is slanted. When a gambling addict loses all their money in the stock market shorting stocks, or even taking out loans to day trade, the story is about the gambling addiction, it isn't how a predatory stock market. I don't see why this story should be any different. The guy had other problems far from crypto that caused his demise.

Ozero

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Anyone who treats cryptocurrencies as a game of chance, of course, will most often suffer losses when trading it. Especially if you combine this type of activity with alcohol and drugs. Then the chances of making a profit in cryptocurrency are almost zero. When working with cryptocurrency, there is a certain amount of risk and a certain amount of luck. However, this is the same type of financial business as the others. And here knowledge, experience, a sober mind and cold calculation are needed. It must be remembered that in trading if someone makes a profit, someone else must suffer losses.

Topic: Man lost everything to Crypto - page 8. (Read 2864 times)