What a costly experience this was!

I got into crypto madness around September last year. From then I have experienced the true madness of the human nature: greed, false hope, ate the lies, took the bait, saw myself in the stars and ended up on the ground.

There were people from the start who have actually experienced a bear market and they always put a disclaimer, but they weren’t so vocal as the others right? Twitter told me all will be good.

I feel like a part of history that always repeats, how many idiots were like me back in 2017? But this cycle cannot just stop, both for crypto and for idiot investors.

I put around a third of my overall savings, which was not my money but GIVEN TO ME BY my parent’s (edit: I can’t believe the amount of people who can’t undestand I was given a sum and I didn’t just steal money, I just wanted to say they weren’t earned by me but I had a right to spend them), and hoped for the best, lost like 80% of it. Could’ve been worse, I stopped at the right time. Could’ve been smarter and not just HODLed. I’m not bankrupt and I still can afford to buy more than what I need sometimes, but it hurts my dignity like hell. I threw money hard earned by my parents and this is what hurts me the most, no matter the amount, and it hurts even more knowing how foolish I was and how I jumped in without knowing anything.

Now it’s different, the second worst thing I could’ve done is not learn anything from all of this experience. I’m a young guy (edit: 20 year old to be exact) and I now understand the world of investing and finance and how it all unfolds (the basics at least…). This all feels like a punch in the stomach that makes you learn something. Not a cheap experience at all, but now I finally understand what I’m sinking my teeth into.

I now appreciate more of what I have, I’m happy I didn’t lose everything (rip to LUNA hodlers) and I’m not touching this market until I have a constant source of income from myself and definitely going to DCA and only in fucking Bitcoin since everything else just seems to collapse.

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23 thoughts on “What a costly experience this was!”

  1. Op, the hardest thing in investing is exiting a position. You learn fast more watching a coin or equity position free fall and fail than all the books in the world. Here’s to future investing

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  2. >There were people from the start who have actually experienced a bear market and they always put a disclaimer, but they weren’t so vocal as the others right? Twitter told me all will be good.

    I have gone through it, I was expecting it (at least to happen at some point again) and was prepared. The recent days were more comedic to me than any other emotion.

    Still I didn’t sell a single coin and have no regrets (I’m like 90% in BTC and ETH). I’m here for accumulation, and in retrospect it was just impossible to tell when it would happen. I gladly miss out on some unrealized gains, but selling my crypto was also to risky for me. Will continue to accumulate like I always did.

    Just to make clear what “being prepared” means for some. It doesn’t mean you had to sell everything to make crazy profits – just survive it mentally and stick to your plan. This also requires you to not be over-invested.

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  3. OP, you live and learn! Maybe some here are just a bit salty that you’ve learned a valuable lesson at a younger age than they did? But yeah no doubt you’ll be in a better position for the next bull than you were for this one. Its a learning curve that most here have / will go through.

    Not sure why you’re getting all the negativity though, the mood in this sub has been a little negative the last few days. As much as I wasn’t a fan of the shills and the ‘to the mooooooons’ of the bull run, there seemed to be much more unity, love and support for fellow people in this space during it. Recently it’s all the ‘I told you so’ and out right nasty comments/posts coming out. Maybe that’s how some cope with the current climate? But yeah, take them with a pinch of salt I’d say

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  4. Investing other peoples money will never end well – either it moons and they want the profits or it does badly and they blame you.

    Great to see you investing so young though, wish I’d started at your age

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  5. I mean if you listened to half the twitter pushers you might be broke within weeks.

    Not sure why this happened because I can’t remember the last time I seen ltc this low it’s mental (I like this coin) and it’s just going down more and more. It will bounce back I’m sure it always does [insert always has been meme.jpeg]

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  6. It’s a good lesson so you will be wiser next time.

    Take things slow and don’t listen to people who sell you the fantasy of making money quickly.

    Surest way to make money is control it.

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  7. Why are you using Mommy and Daddys money for investing? Be an adult and use your own money. You’re pathetic bro.

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  8. Selling at 80% loss… You could have probably just left it that way and hoped for some recovery, that’s if you didn’t dabble into shitcoins.

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  9. Bitcoin has also collapsed, it was $67k in November it’s now $28k

    Sounds like you perfectly embodied the maxim to buy high and sell low

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  10. You lost 80% but stopped at the “right time” ?

    We have a different definition of what is the right time and I think 80% is WAY past that…

    Reply

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