Bitcoin Forum

Hi all! when i just got into crypto, it was december and i was a noob.. i made the mistake of buying lots of coins as per my friend's recommendation and i put my entire life savings in.. as per my friends' recommendation too. it turns out he was a really bad friend and gave me all the wrong advice to watch me crash and burn.. now my profile is more red than ever. Since then, i have focused all my free time on trying to learn and share what i have learnt with the community. right now, i m pretty much stuck with a -80% portfolio.. What do i do??? =( while i have made progress in my knowledge in crpyto, my portfolio is set in stone.... and getting more and more red as the days go by

Never sell with a loss, have your coins in your wallet and never think about selling because i am very sure that you will get your capital doubled in the upcoming months. Make it a lesson and learn from it. Never do that again sir!

That is the worst thing one can do as a crypto investor. You should have had done some research first and should have had not trusted your friend. Can I just ask what coins are you holding anyway? Are they some kind of random shitcoin your friend has recommended? If it is, then don't mind selling at a loss if you are badly in need of money. If not, then follow FaucetKING's advice. My tip might change if I know what kind of coins do you have in your portfolio.

Dude, here some good advice that everyone will agree. Never investing to something that you can afford to lose, use some money that not really matter if that money disappear, is not like your investment will crash though. But just to be save dont invest more that 10% from money you have.

December was golden days for all cryptocurrencies all went peak price that's why your friend suggested you but who knows including your friend that market will collapse like this. but before investing you have to check the market history i think you made a mistake here because this type of correction is common in this field. Anyway now don't sell your coins just hold it let's see when your golden days will come.

Dear kind sir! right now i've got bridgecoin, pareto network token power ledger.. i have sold a lot of others like TRX ans XVG away with a very bad loss.. However, i really really know that I need to DYOR.. thats why i focused my efforts on one of my projects which is a bot to scan twitter for tweets to analyse cryptocurrencies. I have since been very busy and working hard trying to get myself out of this mess...

then rest ill follow mr faucetKING, and just hodl them!!!! then again ... we never know xD :o :o :o

If you can hold.. just don't sell and wait... all crypto are recovering and maybe in 6-7 months your red -80% could become a green one....

i know! i realized how important knowledge is to the field and i am working hard on it, i also wrote down everything to hare it with everyone in case they make my mistakes.. I  sold my TRX and XVG... hodling some POWER, pareto netowork  token, red pulse, bridgecoin and ICX.. it hink ICX is decent...  not sure about ht erest

dude, I'm really sorry about you.
first of all, you're not really hurt unless you sell it.
the market is constantly falling and you will wait for it to rise

Dude stop blaming your friend. You should hold yourself responsible for your actions.
About recovering, better to wait and choose some good ICO's and invest. Follow reddit and other means

yes i wish i could stop blamming him but he kept laughing at me everyday! =(

yes thats why i made a bot to crawl the net for information.. armed with knowledge LETS GO TO WAR WITH THE BULLS!!! hahaha... but hmm..yes i am currently trying to increase my karma points there... its an intersting platform !!! =)
thanks for the advice ! xD

Never invest in something that you don't know, especially if you can't even take the time to read a simple whitepaper. The best thing you could do right now is selling all the coins that you don't believe will succeed. With the money you get by selling, either take your loss or invest them in projects that you think will succeed, but you should definitely do your own research. Also don't invest in too many coins at the same time, it takes a lot of time to keep yourself up to date with the latest news regarding that project.

yes i learnt that the hard way... i am learning how to read and acquire information.. i am also sharing it with the world, i think it is very importnat to inform people and not let them repeat my mistakes.. i think u are right.. i should invest in less coins.. but most of the advice given is to hodl them till i have a profot before selling them off

now you are not a trader, you are an investor in shitcoins.
just forget about these coins for a year or more. More I do not know what to advise

If you are short of money, so you can sell, if you do not lack of money, then put them in the local purse, and choose to hold for a long time, because the current price to sell, may let you lose a lot of money, and there is no need to blame your friend, investment is your personal decision.

You should definitely do that, preventing people from making your mistakes is a very grateful thing to do. You should definitely hold the coins you have fate in, but don't make the mistake to keep coins that will never recover. Also don't start day trading, unless you know what you're doing. A lot of newbies made this mistake and made giant losses.

Hodl or sell and buy better coins but the latter is more risky choice compared the first one. But even if you invest in good coins now, you can still lose money as most of the coins are overvalued.

yes all my analysis from my research is on my blog! haha do support it and spread it ard.. its very new and i have great plans for it.. adding in one aspect at a time... yea omg.. i even tried margin trading.. bad idea... hmm but maybe when march is over il start selling away all the bad coins.. there are some 'landmark' events upcoming in march for some of them.. good idea?

I would have sold the bad coins right now, waiting only gives you more loss. I don't know about the landmark events in march, but if you believe that's a good opportunity, then do it. I personally invest only in Bitcoin and some alternatives like Litecoin to have a backup, low cap coins don't feel good for me.

i see.. thanks.. yes ill probably sell them after march for BTC/ ETH
thats about it i think, good choice? xD

not because the coin is RED meaning it will never comes up again.thouands of coins here in crypto has once been drops in the lowest form.but not they are doing good and having stable price,what im saying here is dont just become bitter while your a fool listening to someone where to put funds..let you tokens live in your folio..

Then for a while forgot about your folio,join campaigns either signature,bounty or social media gain payments and all of what the campaigns pay you,use as capital for another investing, now as what youve said learned more enough.

You must have bought the coins at all time high or near all time high.
Now that you have learned and hopefully done your research on your holdings, hold the good coins, or even average down.
For the not so promising coins, sell when the price recovers or sell to buy a better coin now.

If it's your choice, then it's a good choice.
Don't let them tell you what to do, keep that it in mind ;)

As they told you before: never invest money that is not ready to lose! Nobody can say exactly which coin will grow in the future, but which will not. The market of crypto-currency is not very predictable, so listen to the advice, but the decision must be made, personally by you.

It's a pretty difficult decision, but you've made a mistake now and you're learning from it. Still, as #FaucetKING said do not sell at a loss. Better learn how to make some profit (from trading or bounty campaign) or invest in a winning coin and hold those coins until their price has changed at least a bit, then sold them all.

Sorry for you, if you friend really did tell you to buy coins at last December, he is not a very nice friend. Everything was at ATH in December.
It will not be easy for you to recover your loss. You will have to wait maybe until the next December?
Or you can still try to buy new ICO altcoins which may increase more in price. You will have to stay cool and not think too much about the amount of money you did lose.
Buy very cheap coins and stay with it. You may be able to recover your loss one day. Sometimes, the price of the coin may fall lower. But don't panic sell. Hodl and you should see some profits after some months.
Look carefully before buying a coin. Sometimes they got hacked or it could also be a scam. You need to study well the coin before investing into it.

Your mistake was that you listened to someone and put there money you had to sort out yourself and then invest in coins then you would be confident in the profit

Your situation makes me feel worried yet you have mentioned that you risk all of your entire life savings on it which is really a very very risky thing to do as an investor and regarding to your friend his irresponsible on the words he told you about crypto investments.You do have fault too on entrusting him too much and coming a point where you do risk all of your savings. For now you are still breathing as long you arent selling its still not considered as loss. Just hold it up for long term.

That is your fault,because you have listened to other's advice/recommendations if you are risking your life investment you should have done a lot of research first before investing with those shitcoins,investments needs to have a lot of reading,researching various factors like developer team,product,roadmap and whitepaper should be considered first because most of the altcoins out there doesnt have any of these and you could avoid it when you have conducted research.

If you already know that the coins you invested in is dead or soon to be then you need to cut your loss because you'll end up losing everything, for me it is better if you try to cut your losses and start again from what is left, if you really know a lot about cryptos then you will reclaim your losses and even get some profit using it.

how do i gain payments from social media?

i agree.. i was naive and stupid back then. but i;ve been really doing a lot of work reading up and i even came up with a bot to crawl the net for news! i  share the results on my blog, so people are more aware to not just trust others so  easily

Not all the coins what you have bought would go continuously down.So,just be patient and wait and see the price movements.May be some of the coins which you have bought may go high in price which would compensate the loss got from other coins.Once you get good profit,just sell those coins and invest in bitcoin which mostly does not disappoint its investors.

You are indeed having a bad move on trusting a friend that turned your money into ashes. I supposed you shouldn't trust him anymore.
Well, we couldn't say that it will soon pump what you're holding right now will soon pump but we couldn't tell when.
All you have to do is start from the beginning and try again.
If you have money then you could start spending your time on research about the altcoins that you want to invest otherwise, start joining bounty campaigns where you could get bounties at the end of an ICO sale.
Hold them or sell them, it's your choice.

There isn’t much that can be done now. But I would advise to wait for the prices of those coins to reach break even point or atleast at a price level you are comfortable selling them for.

It's better that you focus on what you have and learn how to make it big. Stop the blame game maybe your friend is honestly wrong on his advice. If he is your friend he will never recommend a coin that he never hold which means he is also in a lost. Better hold you think that has a good investment in the future base on your research and analysis so you don't have to blame anyone.

In the first place you shouldnt be doing that,because investments needs a lot of time for you tu have some knowledge,research the nature of the project,check the team members and the roadmap and it will give you a good idea in how these projects will be able to achieve success in the future,if the research didnt satisfied your standards you shouldnt be investing.

In your case you didnt do some research,because it is recommended by your friend,
that one thing you can do is to pray,that these coins will recover from the dips so you could sell them all after.

The worst thing anyone can possibly do is buy a coin (or any investment) on the mere recommendation of someone else. You can take that recommendation with a grain of salt, but only make the decision to invest in it yourself. It is critical to learn to do your own research and it seems like you are getting that. I'm not familiar with the fundamentals of the coins you are holding, but I would learn everything about them and dump the ones with poor fundamentals in the next bull market then either take profit or reinvest.

Its not actually a bad idea. But the bad thing you do is buy coins because your friend recommends it. First of all you should not buy coins with small amount knowlege on it. In your case you didnt do some research before investing. But mistakes are done so we should focus how to do the right things. You should not do panic selling, sell your coins if you can profit. Dont rush your decision and keep holding until you get profit. Dont lose hope and start to believe that there will be a bright future for your coins.

learn from mistakes made. DYOR is the number one lesson don't just buy because it is down or someone else says it.

but what to do now is research each coin you have and see the once you want to hold. you can but sell orders on the price you are willing to sell them. but all coins are still down so maybe hold and set sell orders for the price you bought is for

it's your depend, if you worry you will lost your money too much of course you can sell your coin to cut lost and use that money to invest in the right way. now you have knowledge and I believe you will get a lot of profit in the future.

That is awful,a bad decision because investing blindly is worst than trading with the hype and you could lose all of your investment in an instant because you are not familiar with these coins you shouldnt be doing that kind of thing because your investments would be your responsibility and relying with someone isnt a good idea because they might troll you and theres nothing you can do after you lose.

If you already know that the coins you invested in is dead or soon to be then you need to cut your loss because you'll end up losing everything, for me it is better if you try to cut your losses and start again from what is left, if you really know a lot about cryptos then you will reclaim your losses and even get some profit using it.

First you need to know how volatile the market is,and buying something you are unfamiliar could give you a lot of headaches,because almost 90% of the coins the market are shitcoins or worthless investments and you can only eliminate these bad coins thru a lot of researching,read the whitepapers of each coins in the market it will only take 10-15% of your time but it can make a lot of difference because you can easily tell if these coins are worthy enough.You can start over and do not repeat the same msitakes,you have learned your lesson in a hard way.

That is not a good experiences,because i i have made the same mistakes last year after i got rekt with these recommendations i have started all over and from that time i am conducting a lot of research before i buy any coin because theres a lot of shitcoins out there and we need to know which are these worthy coins by doing research.Never trust anyone with your investments because its your money not theirs so you should do your part as an investor.

I think best choice you have now is to learn on your mistake and begin to research coins you own, maybe you have coins in your portfolio which are good long term investment and their price will grow.
Just dont make second mistake and do sell at a loss, before you are sure that coins you own are useless.  

That is very risky move asking someone which is which isnt a good way of investment,because they might fool you or take advantage your stupidity sorry to be rude,but that wont change anything because you have already bought these shitcoins,what you can do is to conduct research for these coins for you to know which coin is worthy and worthless,dispose the worthless coins so you wont lose everything.

Just forget your portfolio and start to build up your life savings again (in your real life).
After 3 to 5 years get here and check back your coins' value. You'll get a ferrari (don't panic sell).

This is pretty solid advice. Not putting too much money into it means that if everything goes wrong, you don't come that bad off, but also helps you to take risks about what you do with your investments I have found, which often pay off.

A true friend will never put you in that situation clearly he is jsut fooling you,do not mind him and stay away from him because he doesnt know that these coins are shitcoins,or else he intentionally give the shitcoins to you,what you can really do is to search of these coins has potentials so you can hold them for long term,the unworthy coins should be immediately dispose to prevent further loss.

That is unaacceptable,you shouldnt be asking anyone's recommendations for your investments because ICO and coin investments should have a lot of time in researching so you could pick the good atcoins over these bunch of shitcoin that doesnt have any potentials in the future,Now that you have learned your lessons you know what to do next time,never trust anyone but except yourself.

In the first place why did you invest to these coins which you arent familiar of? i know that not all the people wants to research but that simple research could change everything because im sure if you have done research from the past you can eliminate these shitcoins easily.I personally dont trust anyone with my investments because my money would be my responsibility and i am the only one to blame if i got rekt.

I think to sell most of it in the middle of spring, when there will be market growth, it's a good idea. I think you can go out with the least loss. And only then make a choice. Or just keep bitcoin, or participate in ICOs or buy altcoins. But participate thoughtfully and buy carefully.

You should expect worst, because this is the consequence of your actions ,you shouldnt be asking anyone which is which because your money could be put into wrong coins which in case happened,what you can do is to move on do research with the coins you have and dispose those coins who doesnt have any potentials,hold the rest for the long run so you might have a chance to get recovered.

What you can do is to conduct a lot of research with the coins you have bought,find which coin would have some potentials to grow if none you can wait for these coins to be pumped so you can sold them with a decent price,do not dump these coins because you might not able to recover from this losses.I dont want to be rude but you shouldnt be asking anyone which is which because its your money that you will put to risk.

All you have to do is to be patient. Wait for it until the market bullrun because Bitcoin will rise and Altcoins will follow and while waiting you now review the chart history of those coin you have and do your own search on your coins you have. Always remember that do your own search on coin that you want to and always have a plan before trading so you will minimize your losses and will not panic sell if the market goes down. Goodluck.

You shouldnt invest with the coins you arent really familiar of because the market has been flooded wth so much shitcoins out there that doesnt have any use,what you can do is to eliminate those shitcoins you got and find some good altcoins to invest so you can recover from your losses.I know you have learned your lessons and you wont invest again without proper knowledge.

Do not get depressed understand, how a process of growth and that you had to go through it, in relation to following, somebody practically 90% of the inciantes follows some advice that once seems good, but over time it becomes bad, because when we are initiators we do not understand the flexibility and leave short-term coins for the long-term purpose. Living and learning, in the matter of coins only you can recognize the error or expect an increase in prices.

Well first of all, it's sad to hear what your friend did to you, that's a dick move. Probably a stupid move to put your life savings into something you don't understand but it's done now. As for your coins, you only actualize lose money when you sell your coins, as you still have the same amount of those coins that you bought initially. I would recommend learning to trade currencies. Take your worst performing coins, and trade them against better performing altcoins, over time you can make back the losses your incurred.

Or you can just invest a bit more in a few high risk, but high potential ICOs, they have the potential to multiple 1000 fold, and recoup all of your losses in one sweep.

Good luck.

I was once rekt by these habit,after my portfolio lose a lot of money i immediately got recover from about 2months because i did research which coin could save my bleeding porfolio luckily after spending a lot of time of research i have found several coins that i have invested with,and immediately covered up my losses in just 2months.We have learned our lessons in a bad way ,you just need to be pick with your coin investments so wont lose a lot of money.

You should find out which of your coins are for long term,if you find none you should dump these shitcoins because they wont have any imporvements in the near future,focus in research so you wont be investing to these shitcoins,move on and find a better way so you could recover from the big losses that you have,nothing is impossible you just need to have  perfect coin in a perfect time.

I think this advice is very simple, but nobody knows how to choose this coin. At least for an investor you need to have a good database and knowledge to navigate in one direction or another, regarding the quality of the project you choose.

You made almost all the beginner's mistakes. You can not listen to anyone, you have to do your own research and invest only when you understand in what and why you do it. Now that you have some knowledge, you can choose undervalued coins and invest in them. And most importantly - if you can never sell less than buy.

wow u are amazing! teach me senpai! what coins do u hold? its been three months for me and... =\

I think you should research your coins and get rid of total weak one, and hodl strong ones, and in future do more research before buying.

My advice is hold all your coins till the next pump at least. I think that total criptocurrency capitalization will be more than 1 trillion $ this year

A negative 80% portfolio is seriously bad. I would hold and ignore these coins for now because i think it is too late to cut losses now. Since now you have a better knowledge in cryptocurrency, i hope that you would make a better progress and reduced your losses soon. Take this as an experience and make better trading in the near future.

I'm very sorry to hear what happened to you.
I think that your best option right now for you is to sell your bad coins and invest in coins with potential.
Also, you can start participating in bounty campaigns to earn some risk free coins.

First, do not give in to panic! I see you're handling this.
You can swap your failed coins for more promising ones. In addition, do not forget to note that the last 2 months there was a deep correction, maybe some coins will show a good growth in the second half of the year. Keep that in mind.

It was when I saw people like you that I decided that I would never call for anyone into a cryptocurrency.  Because now you shift responsibility for your money to your friend and remove it from yourself.  Although, if not for him, you would still not know anything about the crypto currency.  The market for cryptocurrency is unpredictable, and no one is to blame for the fact that your portfolio is now red.  This situation is now almost everyone.  But the market will still grow.

Now we need to wait for so many coins fell heavily in price. But for the future, you must learn to analyze the perspective of your investments independently, and not trust other people's recommendations.

Yah might as well continue hodling at this point, not a lot you can do especially in all red.

Better than losing your money altogether.

Its not actually a bad idea. But the bad thing you do is buy coins because your friend recommends it. First of all you should not buy coins with small amount knowlege on it. In your case you didnt do some research before investing. But mistakes are done so we should focus how to do the right things. You should not do panic selling, sell your coins if you can profit. Dont rush your decision and keep holding until you get profit. Dont lose hope and start to believe that there will be a bright future for your coins.

You need to be more careful when buying coins, good to know that you are educating yourself but now there really is nothing that you can do other than wait out the market like the rest of us. I'm sure that by now you must have figured out that if you want your money back then you are going to have to be willing to wait a couple of years for it to get better.

In this situation, we can only keep and hope that the cryptocurrency market will ever recover. It is already the ninth month of this year, and the market is still at the bottom.