someone brought up Mindrust, and I hope that person is OK mentally given the conditions.
This entire forum could be compiled into a prophetic text. For the Old Testament and literal word of the creator, we have early devs and Satoshi. Then our New Testament is full of pages, with many parables from this WO thread. The pages of AdamsBigBlock, the parable of the R0ach, the parable of Mindrust, etc.
Really, our belief system is to not trust, but verify. And collectively, we all want that sweet church tax-break.
This entire forum could be compiled into a prophetic text. For the Old Testament and literal word of the creator, we have early devs and Satoshi. Then our New Testament is full of pages, with many parables from this WO thread. The pages of AdamsBigBlock, the parable of the R0ach, the parable of Mindrust, etc.
Really, our belief system is to not trust, but verify. And collectively, we all want that sweet church tax-break.
I have lost as much as him just because of a emergency I needed funds for before the market spiked and I was never able to get it back.
Sometimes reality really hates me.
He knows he made a mistake listening to his favorite astrologer (which I actually warned about) and doesn't need us to rub it in.
Taking enjoyment out of others misfortune is a sign of a very low moral compass.
Moral of the story is to always try to keep savings in because honey badger don't give a shit!
As I recall, he didn't lose anything.
I thought he just broke even and decided to get out with his $40k while (he figured) the gettin' was good?
yep. he got out at the same price he got in (almost)
Bitcoin just isn't for you, if you can't stomach paper losses in your first cycle...
In fact it was the price approaching his average buy price what apparently broke him. Even if he just hours before he was in the mood of shouting sorta like "bring more dump to me so that I can buy moar".... Even if he had just reached his personal record and long time awaited 10 BTC round figure... But somehow he was suddenly broken by the price going under his average price... something that, I think, he never experienced before. Also he suddenly felt that all the money he had put into his "buying" was much more than he could afford to lose. Say overinvested if you want... whatever you name it... it was the perfect storm... for him. He broke.
He sold, on the way down, somewhere around 4.5K and 4K.... the lowest spike went to around 3.8K IIRC. So, yeah, almost at the lowest point of the dump. He even had a couple days to rebuy at more or less the price he had sold it all. He decided not to even if some people here tried really hard to make him reconsider his position when he could still undo it at more or less the same price he sold.
I sometimes wonder if I could have done anything to make him not make that "mistake" (easy to say afterwards but it was a really ugly night) when he was basically announcing what he was about to do in "real time" but.... First of all I couldn't believe he was serious in his "going FULL out" (Had to ask him twice if he really mean it), second it was a very ugly moment and no one could be sure how low it could dump and third, I think I was very vocal that while he was selling I was buying with all my leftovers on exchanges with the intention of riding the dump to whatever price it would take.
Anyways, time later he seemed ok with his decision and was doing forex (USD) trades and supossedly doing reasonably good on it. So, even if it probably wasn't as much profitable as Bitcoin has been afterwards... I hope he did "good enough" and is enjoying a good life.
And I better stop here because... while ending this post... somehow it also came to my mind the names of BlindMayorBitcorn, VB1001.... and several other GOOD MEN that were left behind (AFAIK) along this long road.
P.S.: And, btw, it was NOT his first cycle... but his second one... In the first one he ALSO sold it all to buy some stuff he wanted (an Ipad among other things) and he was always saying this time he wasn't gonna make the same mistake. He did. I guess some lesson can be extracted by this sad story and at least something positive learned from it.
Excellent summary Bitserv. Mindrust is just an example but there are of course many silent Mindrust out there. RIP, except for the ones who turned into vocal Bitcoin haters. It might make Mindrust feel a bit better that I purchased three of his coins at the time and hodling tight?
) is also needed. I'm trying to educate my family, the basis of change for a better world begins within the home.
