Bitcoin Forum

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

It just show have dangerous trading altcoins can be, if that person got into bitcoins in the start of 2017, and just hold on to his bitcoins he would have been up with 5 or 6x right now, if he got into bitcoins in August 2017 he would have been up with a 2 or 3 x, I can't really see when he bought bitcoins, but everyone who got into bitcoins more than a year ago are in nice profit zone.
Buying and selling altcoins can be really dangerous, I'm 80 or 90% into bitcoins and just hold a limited number of altcoins.

The conclusion from your story is, trading cryptocurrency won't keep you getting profit. That's what people expect by playing around with.

The profit in investing in cryptocurrency is unpredictable. It's not Ideal to expect profit base on another person's profit of one week ago. Obtain experience first before you travel.

my trading is at high risk, so don't think if you are crypto trading you will get a big profit ... you must before you start trading you have to know the risks that you will face ..

Knowledge, they say, is power. The storyline would have been different if the said husband had much knowledge of the cryptocurrency market before putting all that investment into it. Note that this is an emerging field of investment and it is fast developing. Most people jumped into the band wagon and are now crying wolf.

If most of here are right, You did a bad investment. If I am right, You got scammed and many people will follow.

Those annoy me the most, who want to paint a picture BTC has anything to do with knowledge. Its a p&d scheme, for fucks sake. If someone takes it, its their choice. No need to play a genius investor, You are just a tiny scammer besides the huge ones. Nothing more.

Yes actually there are some specific methods and system for investing in cryptocurrencies. You must have someone experienced before investing in the cryptocurrency or invest a little so that you can get lost but it will be of a little amount but the experience will be of a great amount. now nothing to do what happened you gained a lot of experience and now try to invest in the system and recover your losses

I don’t agree with the idea of buying Bitcoin just for investment or even to be rich, that's not what the Bitcoin made for it.
If this story is real, the owner should start selling if it is a significant loss. "MAX loss is a loss of $ 13,000 per bitcoin," or leaving the market. The price will rise in the future.
I hope that such stories are a lesson, there is no fast rich without great risk. "Do not buy when the price is at its highest."

You are dead wrong. If transactions were made many times, max loss is much bigger, than 13 000, its basically infinite.

That's why never invest an amount that you can't afford to lose for this will only create depression and frustrations on your part of your investment will be lost. When it comes to crypto there's no assurance that you will profit in a short span of time. Patience and knowledge is needed for you to become aware of the performance of the market and never let your emotion cloud your judgement for you will commit a lot of bad decisions.

It is still early to judge. If you invested only to bitcoin and still holding, just keep holding, because as you can see, the price everyday is not always the same, it could go up and could go down as well. Bitcoin will going to comeback not only on $13K but more than that for sure. You are only almost 1 year in the industry, that's still early, you need more experience, and more learnings. But if you invested to many cryptos and making trades everyday, that's a different story.

First of all I would say sorry to the guy that is loading his investment the timing was not right for him to invest and as a newbie he should have started with money he can afford to lose.

Why did he throw more money in altcoin and hodl it rather than in bitcoin???? I thought that he searched about the bottom of bitcoin?? This concludes that if you don't study and understand what you are going in to, you will definitely fail. If he invested the amount that he can lose and sell it when he profited on it it will be a different story. Also he just believe what the news and people told him so he got overconfident, this is an example of being not aware and lack of research. He don't have enough experience and he goes all in. This is a lesson to all of the beginners in crypto, buy at your own risk and sell at your own decision don't just believe what the news and your friends says, always do research and think critically.

this story makes us realize that, never invest in following a signal or directly follow an investment, and hope that with high profits, he already knows that it has a high risk, but still forces himself to enter the altcoin and hope again.

It never ends, our greed to "Invest and Take Profit Tomorrow" is nonsense thing.
I already stop trading and make any speculation about cryptocurrency

I've also been bro. experiencing the same losses as that. the first time I invested in bitcoin and altcoin. I finally felt like it was impossible to return my lost capital ..but after I got up finally I was able to get both experience and profit so that I could get my lost capital and income every day .

Many people who have invested in bitcoin, are now experiencing not the best time, but in the future they will be able to live better than before.

Never invest more then you can afford to lose because chances are you are going to lose it.
Dont buy into these crazy pumps wait till the market gets low and buy some cheap coins sit on them for 10 -15 year then you will be much better off.

That's why it is always recommended again and again not to invest more than the loss-bearing capacity of the investor. Crypto industry is still evolving and hence no one is sure what is going to happen down the road so there are equal chances of losing entire capital and gaining exponential returns. Crypto is all about self-responsibility and hence one should bear sole responsibility for the actions taken by him.

Same as always, you dont invest anything that you cant afford to lose. If you stick to that you will be fine. It is universal for any investment field.
Good money management is the key.

My opinion?The author is STUPID AND GREED thats why he has experiencing that trouble,imagine he was new in crypto and then believes that the price will reached $50,000?isnt it greediness?

Tell the man tl just continue to hold the bitcoin and forget about selling because the value might drop but the volume remains

If you are in the crypto world, what you are looking for is profit, but in reality, but the sustenance has not been in your favor, what is needed now is patience to see the market happen, my advice is to stay motivated and do not give up because the effort will not betray the results.

Reading the story made me think that OP was been a FOMO last year like just because he and his friends heard how bitcoin price become tremendous so they decided to jump in without even knowing what is all bitcoin about, how risky and how volatile it is. So here he is, narrating what happened with full of regrets on how he easily loss.

Just to make this short, newbies always thought that crypto currency can get them in a real quick money, well yes it might be but it can also give you a 100% loss over night. We're all in the situation that test our tolerance on how we can react in every dip and most likely we're on a do or die.

I guess this happen because one might not have the depth insight about cryptocurrency and it's trading. I must say cryptocurrency is so much volatile, one can't just think that many people are investing heavily into cryptocurrency, I also must invest...no no that's a wrong move. One must have been educated and have a little knowledge about cryptocurrency and it's trading and most importantly the risk involved in crypto trading.

Greedy people will always end broke because of that kind of action. We should learn more about investing and how it id done well. If you cannot affor to invest then save money for it instead of sacrificing things. Thie market is profitable but you still have to do the right things.

Hmmmmm! What a terrible story. WIth my little experience in cryptocurrencies, I have learnt that before you invest in any altcoin, you need to understand read the whitepaper, understand the projects and gain enough ground before you invest a single cent in it. Even at that that, try not to invest an amount you cannot afford to lose.

Last time I often heard stories like TS told. It's sad but smart people would not start something like that before they are sure that they CAN do it, and lernt all advantages and disadvantages and understood how risky it is!

You need some level of smartness and  confidence to succeed in the world of Cryptocurrency. Over the  time, most of the successful stories that I have read on this forum is about the making of bold but smart decisions when you want to venture into any episode or project of your life. The same applies to the world of crypto.

Well its so sad to hear somebody become bankrupt because of crypto, but the person already knew that it was a dangerous investment, unfortunately he didn't learn the crypto and the market before investing, so it was lack of knowledge and maybe the greed that put him in this place, and all of us must aware that only invest what you able to lost, and let this story become the lesson for everyone of us

This is a test for everyone, don't be too obsessed with getting rich quickly and easily, lack of knowledge and good patience are demanded now, you have to listen to the advice of others from this forum not to see noobs talking because they just hone, very dislike like them who speaks arbitrarily, but that has happened for you, so if there is a desire to return to wake up with all the calculations not happening for some people, hold and do not sell them at a low price because the value will return at the beginning, need patience on a trip like this .

The common mistakes people new to cryptocurrency often do is not researching or studying and understand how the crypto world operates. Cryptocurrency investment is not like any kind of investment, the market price of a particular coin is mostly determined by the price at which people having the coin are willing to sell it. People need to get this aspect of cryptocurrency before having plans to invest. Cryptocurrency is not for the agreed minded.

Sorry to hear that. Don't invest in something you can't afford to lose

Bad copy & paste from russian thread

I think you have invested in electronic money at the wrong time. You bought the coins at too high a rate. So you have failed. This is a great lesson for investors. Choose the right time to buy and sell electronic money.

Predicting for the price that much  it might have in the future to risk all the money you have is not a good decision especially when you just new in the field and do not know really how it works, but greediness makes someone to forget about it and only believe on his instincts.
We have to study the market first before deciding when to put investment on it and only put what is afford to lose. Also do not put all the eggs in one basket.

we should know about the risk if we join with the bitcoin and other cryptocurrencies, there are many possibilities that makes a profit but there is a big risk in the high profit, so if you want to try to trading or investing in bitcoin just use the little of your money, don't put all of your money on bitcoin

Every one is free to have a dream become a millionaire through Crypto currrency, this is a new trend of digital investment and it has rules as gold and silver investment. If you think that it is as dangerous investment, in fact that there are many Crypro investor get what they expect. The matter is most of they who got failure don't know and comprehend Crypto and they even regardless the strategy investing in Crypto. They can't control the emotion, the main focus is only the profit, while maintaining the assets and minimize the lose is more important.

What a pity ! I think you had not been lucky when investing in Bitcoin. I mean, you had missed the chance from raising price Bitcoin at the end of 2017. Anyway, I just advice you should take up everything again and move to a different major apart from cryptocurrency. Good luck for you.

if you experience a loss in cryptocurrency, surely you act stupid. must be careful investing in cryptocurrency. those who are successful in cryptocurrency are always on the lookout and are overwhelming looking for information on price movements in the market, if you know the low value, immediately buy a good coin

You are not the only one who bankrupt a lot others also has the same situation. This is because you follow the hype and do not research properly that is why you bankrupt otherwise peoples are still making money.

Life it self is a risk so also in very investment you also take risk,he lost his chances at first but this dose not mean he has lost it all,holding on to his investment and wait patiently as others did before the big blow will also help him get back what he has invest with it profit.

yeah, that is a sad story and a lesson for us to be more careful when investing in crypto currency and we have to know the risks, don't be too greedy to get profit when there is a chance even if only a little

why not sell when prices go up to the month at the end of 2017, and instead you are waiting to rise again but what happens is that prices fall this year. Crypto market can never wait, so just sell when it's already profit. and when you experience falling prices, then hold, because the market can still rise again. I myself started crypto from the bounty campaign, and continued to investment, so I can enjoy enjoying the game on this crypto market.

Well, this is sad but it show what a series of bad decisions can lead to. Besides that there is always an uncalculated risk (the market fluctuations that everyone fears). Experience also is a big advantage when trading. Just be careful how much are you investing and in what.

This story only proves that investing in digital assets like cryptocurrencies is very risky and also we must put in our minds that this is not for people who want an easy money opportunity in just a short time like a week or months everyone must remember how bitcoin took years before exploding the same in altcoins wait some years to see the fruits of your investments.  

Had you ever spent more time researching on cryptocurrency market ? Besides your knowledges, I think you need more inspiration than knowledge to invest in bitcoin. Because investing in bitcoin is the same as taking risks. However, I feel sorry for your problem. I wish you could recover your capital and succeed in other major what you like.

BItcoin is a type of cryptocurrency. The crypto marker is always fluctuating in price.  Indeed success in Bitcoin is quite difficult, maybe it depends on luck. Yet, we can not blame almost for the crypto market about your failure. You should resupervise your procedure when you invested in Bitcoin in order to find your mistake. I hope that you can recover soon.

I wonder how much clearly you prepare to invest in Bitcoin ? Is it safe enough for you to grasp profits in your hand easily. Anyway, Bitcoin market is unpredictable, it is difficult for us to guess the future. If you still had hope-ness in Bitcoin, keep calm and wait for the new better future. If not, making sure that you can recover capital in trading any else.

"A fool and his money are soon parted."

Investing is not just about picking winners. It is about logic, math, mitigation, timing, and diversification.

I don't know I just wanna talk, if someone gets a loss when investing in cryptocurrency like bitcoin, just hold. Look at the bitcoin nominal you have, even though it decreases, the nominal will not change still remains the same which decreases only on money fiat. And sure enough, when someone wants to invest in bitcoin then he must know the function and potential of bitcoin in the future, if he understands it well then they will continue to believe bitcoin will have a high price in the future.

A piece of a sad story, people who are not ready and mentally unprepared are very influential in the bear market. The highest risk and having a negative discourse.
This is a lesson for us that jumping into the bear market without the knowledge and mentality of steel is not as expected. What must be done before actually jumping into the bear market is to explore bitcoin and also the market/exchange, don't be tempted by high value without analysis!

Very tragic story, I think research should be done a few days before investing on cryptocurrencies and should be seen in the market for a few days, and never invested in all wealth of life, it is unfair.

if in my opinion all because of the fault of the person in carrying it out, because in the crypto world that must be considered in making investments and trading it must be able to control emotions when the market experiences a very bad decline

Its wrong to quickly rebuff this as a make up story or some unreal story because sincerely, if we have some people close to us who invested during the all time high of 2017, they would probably be in the same position and if you as an active participant in the market had been the key that brought them into the fold, you would probably had to deal with comments like leading them to the doom. The story actually touched various stages of a typical investor whose total money has been hanged into crypto and cashing out at the time won't be a wise option.  Funny enough, this could be the story of some people here as well.

However, in the when crisis happen, the best way to go about it is survival as the crisis cannot be stopped, the approach to tackle it can be reviewed which the author in my opinion did wrong and its largely because he didn't have the right understanding of the market before investing. If you know you cannot handle the everyday volatility, just take a break and focus on other things. It would be hard but eventually it will worth it.

I am sure that you can make money in this market. You need to learn more about how to make money in this market. Sometimes people do not want to learn and immediately go into battle.

There are thousands stories similar to that one! Biggest mistake there was from investor to go to short term trader! If you bought coin, you are not in lose if you dont sell! There are people who are selling their huge entire mining farms. And they are stuck with equipment lost its value 3-4 times, and huge electric bills! So many times sad and most of people don't listen, "Don't invest what you can't afford to lose"!

Am very sorry for that but the truth is this you can not flow in what you do no have enough knowledge about, its like wanting to drive a car cause others are doing same without asking or knowing what the procedure was like, that is what just happened to you knew little about crypto and then dived into it was carried away by the storms and waves. Study more and make the right consultations

In this story, I did not find out if this guy sold his bitcoins and altcoins for a given time to himself at a loss, or not. If not, then all situation  can be remediable, however, it is possible that it will take a long time to wait for the price increase in the market. But there's nothing you can do about it. You can not buy a crypto currency if it has been growing in price for a long time. Before you invest heavily in the crypto currency, you need to study the crypto currency market well.

I do agree to the part of not buying when the price is at it's highest but investments alone on Bitcoin is okay if you are ready to wait out the storm of the bear market. I would have been richer when I started in 2015 but I stopped and am regretting it now because then I was determined to be buying 0.05 btc monthly

Most people say that crypto can be very useful, but to get that profit is needed knowledge about crypto, because to get profit is not easy and there is also no guarantee to always get profit from crypto.

This is a very sad story and it is very common, he thought that he could make money in a market that was reaching its peak and that is the worst moment to enter in any market, he should have waited for the crash to happen and if he did that he could have all the time in the world to pick the right coin, but he was greedy and unfortunately for him now he's paying the consequences.

This story once again confirms how dangerous and unpredictable cryptocurrency is. Someone earned millions on it, and someone lost all their money. Hence, there are opinions that the cryptocurrency is a Scam. Just someone well thought out his strategy, and someone just chasing big money. We must be more careful and constantly get new knowledge about crypto. Then everything will be fine.

He either sold at a loss or is still holding. It seems that he switched to altcoins and when they were going down he tried to make up for the losses by actively trading. This again proved to be the wrong choice.
To sum up, he went in when BTC was high pushed by greed and rumors. When the price started to fall he didn't sell (no stop loss). Later on he switched to altcoins and we know that they are even more volatile than BTC. Then he tried trading with no prior experience and of course got eaten by a bigger fish. Sad story, but there are hundreds of people in the same situation.

I want to believe there are quite a lit of persons too that did fall victim of this mighty dip of this 2018. The story is very understandable. My take and stand is to just keep the Hodl till it is really worth the sell. The person should try and diversify into something else for now pending when the market revives itself.

That is why I never recommend spending too much money into investing crypto currencies. You always have a very high risk of losing it all in a fraction of a second. Play wisely with the game and you will be much happier.

I think, this story has already been posted. I once read about the story where someone whose assets were reduced to 90% and the money he used was money for daily needs.
My opinion about this story is how stupid a person does not read / find information before he does something.

Trading is not for everyone. Trading can make you rich in one day, but it can make you poor in one hour. One bad decision can make a difference. I lost money in trading too but the money that I use to trade in Crypto are those I can afford to loose. If I earn from it, good, I don't, it's Ok, I can still go to sleep and wake up not feeling bad that I lost a lot of money in trading.

This is sad, but this will be a  lesson for other investors. Never invest too much on cryptocurrencies since the chances would likely you'll lose it all. Never invest more than you afford to lose,  and never wait or believe in  other people's stop and go signal in whether you should buy or not.

That was sad moment when you hopefuly become billionaire but it dont come.. i cant blame him for being depress even though I am, every day I watch the Bitcoin price and i've been stressed if the bitcoin price drops.. But I advice that he can start new life by finding work and try to hold his token, live his life, try to forget the money he invested in a month, and When he get back who knows?

The lesson is clear, invest responsibly. Millionaires are not made in months, they are patient during ups and downs. In this space there are lossers and winners, its individuals call or fold just like in poker. These industry is very young and I'm very optimistic that it is more than a $200 billion in value, were on the right track to be involved in this space and only faithful and patient wins.

Well i think crypto currency is not your feild, maybe you are not lucky on this feild when you get bankcrupt, because not everyone really get a big profit on this feild. Some other people are also loss on it because they are not lucky to choose their way of gaining a huge amount of profit. I believe that crypto is profitable but it can also give us a huge lose.

This is a quite terrible story. You supposedly made the mistake to buy at the top of the market. It happens. The only mistake that you have to avoid now is to sell everything at the bottom. This would be the final catastrophe. Now you just have to patience for the day where the market will go up again. It wost likely will, in some months or in some years. And then you will have your money back. And possible more.

People enter this market and many other markets without understanding how the process of earning money works, every dollar that you earn by trading or by investing is a dollar that came from the pocket of another person that is also trying to earn money in the market, so if someone is earning millions out of cryptocurrencies that means that someone else is losing a lot of money.

Since the first time I decided to join the cryptocurrency world I have always heard (well, read) this: invest only what you can afford to lose. Cryptos are extremely dangerous, especially if you buy in the wrong moment, just like your friend did. I don't wanna say that it was too late but it was wrong, you cannot buy on the hype, you have to wait.

Buy when digital money prices go down can generate attractive profits. However, in practice, "speaking is easier than doing". To use this strategy requires investors to have time to invest and study the market, which many market experts find very difficult. You have been in a hurry when no have time to learn because this market has gone a long way and the slope can not stop its breakthrough. And I do not know how much your property is, but I still believe Bitcoin will come back.

Crypto is at risk and therefore must be careful because its value is volatile, and there is no guarantee that anyone who enters will benefit. Do not invest if you are not ready to lose, and do not consider crypto as a real job, because there is no definite gain.

The couple made some mistakes:  they traded with money they could not afford to lose...they probably didn't do enough research in this aspect. They were in it for the wrong reason - to get rich quick because they heard many became millionaires through Bitcoin.
What happened was unfortunate. It is not unique to Bitcoin. People lose money in Stock Market thesame way.  

Do invest what you can afford to lose whether you are investing in Stocks, Cryptocurrency or Precious metals.

If you see the story you are really sad if you don't attend the 2017 end party that happens to Crypto or even you buy Bitcoin that month? if it is true then all of that is purely your fault because you do not feel panicked when the market conditions continue to weaken and hope the price can rise by $ 50 of course it's a joke because if we invest in Bitcoin or other investment tools of course we will continue to monitor the progress of what is happening in it . For example, why at that time the price dropped far because if there were consequences there was a reason behind it all.

Lesson learnt, Be strategic in your approach, do not wait and expect an unrealistic price rise, ensure you take advantage of every bullish period in crypto, take capital and part of profit, also ensure you follow news related to crypto per time in other to be part of the price rise, Please not that all form of investment is filled with risk, you must ensure you calculate your risk in order to get the best out of your investment.

What a beautiful sad story, people are always advice to invest the money they can afford to let go in bitcoin and the cryptocurrency in general since it highly volatile in price. But the couple went too far by selling they personal property to invest in cryptocurrency and at the period were the market is on the run and at a very high price.

If you want to make money using your money, always remember this : Invest only with what you can afford to lose, no more than that.
So if you lose your money, you won't lose everything including your happiness, love and life because you can afford it to lose.
Don't ever selling all what you have to make money, because it is same as gambling with no guarantee your money back.

Take this as your lesson of life that never invest at anything with greed, high expectation and no knowledge because this is clearly danger and the victims is not only you that most people had same problem and nobody can be blamed from this situations that the current market is so disappoint to see and when most people expect being rich from crypto but in fact we already see more poorist people lost their money

To date, anyone can conduct trading operations on crypto currency. Despite the increased risks of investing in the crypto currency, more people are ready to overcome their fears, because there are incredible prospects for profit on the other side. However, one should not expect a quick profit to successfully earn on trading digital cash, you need to have enough knowledge.

A very sad story though I kinda feel guilty about him loosing last year. If I remembered correctly I have earned a lot so I am at the winning side. The worst thing could ever happen is they would argue regularly and leading to them separating. Don't lose hope everyone-hold onto life, as long as there is life there is hope. Now he have experienced what kind of terrifying world crypto is. I bet he won't be greedy anymore with that.

Sorry for your loss, but in the end i always think that the crypto market will always go back up... So don't worry!

So HODL  :)

Yes! For me you are right fellow. We cannot expect to earn to the date we expected. The price is unpredictable, so, therefore we cannot just tell or decide to sell or trade at a certain time scheduled. We will be going to keep track of the market.

Three things I will tell anyone about investment, especially on cryptocurrency.

1. Only invest money you can afford to lose.
2. Buy on a rumour before the news hits the market and then sell off when you see the news making effect.
3. Stick to the two advice above and you will do well.

Side note
Honestly, I think those who bought bitcoin at ATH in Dec 2017 like the OP, did so based on naked greed. I don't have any sympathy for them.

Yes, that's right . You should not give up your main job when you have not earned a bitcoin profit yet. We know that investing in bitcoins is risky because its price is unpredictable. So I think you should go back to your main job and spend some time to continue investing in bitcoin. I advise you not to keep looking at its price chart continuously, which makes you more tired and desperate. Store it in your wallet and wait for the unexpected growth from it. You just do the main job and continue to invest in it. You have more stable income than you will feel comfortable and live happily with your wife.

the risk of bitcoin always coming every time, good investors don't just think about profit, thinking about the risk of loss is always their priority, they always install preventive measures.

actually, someone who invests in the crypto world, then the market becomes bearish, then he does not experience losses. he only must to rest and be patient, because bitcoin will always reach an uptrend.

wrong actions is pessimistic about a bearish market situation, and that has a bad influence on every member and market.

That's true, maybe he has not a good decision the last time he joined cryptocurrency that's why he went bankrupt, he needs to have more experience or maybe try to join some campaigns if he doesn't want to lose some capital that he has but he needs to work hard to earn it.

I think that many such people who sold their apartments, houses, climbed into loans and now sit in the red. It is necessary to assess all risks before investing anywhere

I agree.Always think to invest only what you can afford to lose.Because if you put a big capital on it knowing your still a beginner, you might end up losing them.Crypto investment is very risky so make sure you still have other resources for income if this one will fail.Participating in bounty campaigns might help you to cover up some losses.

Well, all I can say is that bitcoin and the crypto market is not to blame.

The guy had it coming, if you can't earn in this field, you certainly shouldn't drop your main job.

If you're a married man, and your family life depends on your income you shouldn't take unnecessary risks.

This guy took the highest risk in the most unwise manner.

The first thing I'll say to anyone interested in actually investing in Bitcoin or crypto or anything is that it might go to 0. You risk some money and stand to gain or lose. You don't risk everything.

Risking everything is like gambling away your home on a game of roulette. Yes, it could work out for you, but you'll probably end up homeless.

Risk taking is always cool, but a calculated risk is always the best choice. You need to understand why and how to invest rightly so you don't end up going bankrupt. The world is full of risk taking , you can also take on a main job whiles you engage in crypto.

if you want to invest, don't use the money you need, you should use money that is beyond the needs of your daily life and certainly not lust to invest all your wealth because it is a deed

That is why not to jump in when it has pump up very high in the market.. All going up will eventually going back down. Fast up more fast down trend. I usually playing some trades on exchanges for me to understand more how the trend are and i learn from there when i doing some mistakes. Firstly you always set your mind on this trading. High risk investment.. Always remember that.

I would like to condolence to the husband in the story, but he invests in bitcoin not at the moment it is rising. The story tells us that it is unpredictable, especially about the virtual currency market. This can be a story for people to consider before investing in bitcoin.

They just searched for the way to lose thair money.Gambler

I focus in this one. if we feel that we have fallen to the deep point, it is better to decide whether to continue trading or leave it in the future, people generally enter Crypto through trading, whereas in fact there are many other things that can be utilized, such as following an ICO for example. So sad to hear your story but i will make it as a teacher for myself to keep careful on crypto, Good advice

I am sorry you had to go through that. If you ever decide to invest in the crypto market I suggest you at least read about AML BitCoin. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.

The value of electronic money is always changing, it's profits are unpredictable. Everybody wants to make a profit. You are bankrupt when investing in electronic money but there are many people who make a lot of money from it. I hope you thoroughly understand the market before investing and choose the right time to invest.

Actually crypto investment is very simple, and the greater the opportunity to generate profits compared to the risk of loss. The principle is to invest using money according to the financial capabilities we have, do not force yourself by borrowing or selling valuables to invest in crypto. After that, sit down and be patient and wait for prices to rise, if there is a price increase and you get a profit, you have to sell. Then wait for the price to fall, and buy again, when the price goes up. Simple and indeed requires patience and does not bring ambition to get big profits in a short time. If we can do that, then we will have a great opportunity to win and avoid the risk of losing.

It simply means someone out there did not play his or her cards well that has resulted into that but I think they can give a break and re-strategize   themselves and join again,  who knows they might gain this time round.

it's true that you say that in playing in crypto we also need to be able to control our emotions if we get big results and if the market goes down we have to take a break for a while until the market stabilizes again. so it can anticipate the losses

The biggest problem that is difficult for us to face in this investment is emotion, many people because of greed and high ambition, they are ultimately unable to control emotions. That is what causes the risk of loss they experience. For that we should learn to control emotions, so we do not panic and still be able to be in patience which in the end we will win and get results through bitcoin investment.

in crypto 1st we have to control our emotion.and then we need to learn about crypto currency.
crypto investment is very simple but earning is so tough.

I think trading is in need of knowledge about cryptocurrency and also experience. Because trade is full of risks. You can't start it without enough knowledge. You also have to have extensive experience. It depends on you. So keep working hard and finding the right strategy.

All such smart, give wise advice, but they themselves were in the same position as the author of the topic. We all made bets on the growth of the cryptocurrency and all fell into losses. Let's just say to the author: you're not the only one, we're all fools!

The story is sad and at the same time informative . You don't have to get emotional. I, too, was too greedy to take the profits. But I look at it positively, and I learned from it. I'll be smarter next time.

The experience is awful as i have experienced it too! The only difference is that I am humble and learning everyday from my mistakes and you should do the same, learn everyday to avoid crazy mistakes.

Trading the cryptocurrency market is very risky, one has to gain a good level of experience, and also should understand that investing has to be with an amount affordable to loose.

This is a sad story, but it shows your failure to follow the trending. Trying to follow FOMO makes you prey for big fish in Crypto. Looking for short-term profit but want the safety is impossible, or rethink the reason you failed.

Your story has surprised me very much since even in the midst of the excitement I do not remember what I would expect from a bitcoin growth of up to 50 thousand, at best I was hoping for growth to 25-30 thousand dollars. I also bought bitcoins and while in loss, but do not despair, as I'm waiting for growth in the near future. In addition, I do not invest in the last money, so I do not consider the situation tragic.

trading, be it in bitcoin or aitcoin is very dynamic. so one should trade with minimal expectations, by so doing, it wont be difficult to move on when the market goes the other way round. The major problem with some crypto currency investors is that they rely so much on their investment, and so get cut up between lines when things dont go as planned.

The beauty and trouble with crypto is that anyone can put in as much or as little
as they want at any time. There are warnings posted on this forum which are
timeless, one of which is never invest what you cannot afford to loose

Its hard to hold a loss but in time the bitcoin holding will be a positive result.
As llng as you still hold you havent lost IMO.

I bet there is a lot of story just the same as this one.

FOMO happened and next is sh1t.
Looking at how fast the growth bitcoin had last year, it will really make you think to jump in and try to get some thousands of dollars.
After getting in that mark, the greed also increases. They want more.
Looked at twitter accounts of famous people in the crypto world saying it will increase more to 50k USD.
Again greed came in and they dont sell.

Until sh1t happens again.

But just a question for those kind of people. Did you really invest all of your savings? That is where the wrong decision started.

This the worst case ever happened when you don't diversify an investment and put it all on crypto even you can't afford to lose it all. Investing with crypto is very risky because price fluctuates and no one predict when it is going to happen and by how much. When you are greed to gain profit, you ate emotional in doing things without knowing that it getting worsen.

First before trading we should know that there are risks involved and that we must bear in mind,most rimes even when we think we are doing it right it still goes wrong profits making in crypto is unpredictable.There should be more experienced before trading

It simply demonstrate have risky exchanging altcoins can be, if that individual got into bitcoins in the beginning of 2017, and simply clutch his bitcoins he would have been up with 5 or 6x at the present time, on the off chance that he got into bitcoins in August 2017 he would have been up with a 2 or 3 x, I can't generally observe when he purchased bitcoins, yet everybody who got into bitcoins over a year prior are in pleasant benefit zone. Purchasing and offering altcoins can be extremely perilous, I'm 80 or 90% into bitcoins and simply hold a predetermined number of altcoins.

Some people only think short before trading, sad fact but it is true. That can make bad habit for bitcoin because unexperienced people will blame bitcoin itseld than learn their mistake. And others will know bitcoin is bad.

You should understand the risks first, if bitcoin is profitable, surely everyone will sell all their houses and buy BTC and do HODL for 1 month
if everyone does this, then who works? Who sells at the supermarket? who wants to be a doctor? if by playing BTC alone someone can get rich
now you have to get up, and forget the past. make your experience in Bitcoin a trigger for your awakening

News have a bad and good effect,  the bad news is the fake news creating by person want to people panic, the good news is creating to the people to make convince and remive stress.

Simple as need to learn here their mistakes do not relay your future to news or the someone always study well every step for to decdes,sorry for the loses but if the coins is in there's hand hold it because have an a right to retuern again their loses if the price of bitcoin jump again.

Yes i know what they feel, i think this is their mistake because you join in crypto only for profits and join in crypto when the price so high, and they are so panic with situation. By the way they can not bankrupt if they patience. They can still gain profits if wait it maybe 2 or 3 years. Crypto not make rich fast but if we patience can make us rich. Just sugges, dont think crypto is profits, but think crypto is long term investment for bestter future

Your  story is quite one to tell!!! Honestly you have learnt a lesson that some enthusiasts are yet to learn and you learnt it within a very short time too.

This only further proves the volatility of the cryptosphere.... Fortunes are made and lost overnight... But one must not give up. It's a game and getting burnt is all a part of this game!

Meaning all wasn't right with some decisions but hope you and your colleagues are not giving up soon. Trust me there are better days ahead which you could take advantage of  refrain some of the incurred loses.

Experience like this is what i have always used to defend some people who are now easy to panic if they will sell their cryptos every time the market will fall. I will always told those bully guys that it easy for you to criticize the panic people if you did not try to lose huge amount because of holding but for your story we should learn from this mistakes that we should always take care of every decision to make that we should know that investing in Crypto currency is very risky because the price is really unpredictable.

Everyone has its own feild, and if you are not lucky on crypto feild maybe there are some other feild for you. So I suggest to find another ways to earn. I believe that crypto is profitable but sometimes it will also spend on your luck. And if you are not lucky and get bankcrupt on this feild you are free to go and have another ways for good.

People seems to ignore the basic advise when they enter cryptocurrency world, "only invest what you can afford to lose". This will keep you sane.

Regarding news about Bitcoin touching $50k, don't be a sheep. Use your own diligence.

After reading the story OP posted, it is mostly due to the greed that resulted the person mentioned in the story to lose so much of his money with his investment into crypto-currencies, I think he should really try to stop arguing with his wife and start to communicate more with her, as people who suffered from depression would usually requires a lot of support and care from their family members for them to recover from it.

He is bad for investing without proper research. Also "invest what you can afford to lose" always remember that. 2017 also was the year of bullrun why would you invest in it when its already high, invest when it is in its lows, So that you can take profits. This is purely greed by the husband.

I think the main reason why he end up being bankrupt when joining cryptocurrency is that he lacks some knowledge about it. The cryptocurrency business like trading, investing and gambling is a very risky thing to go into. If you don't have the knowledge about it, you will end up losing all of your funds. And one thing is that make sure to be aware of what circumstances that may occur in your crypto life when you starts to join in.

I am sorry for you. But before you invest in this market, you should definitely know that you need to do research. I hope this is a good experience for you and you will be able to compensate for your damages.

Feels bad man for this story. But don't worry this is not the end of crypto, bitcoin will go 20k one more time and make it sure if that happen sell everything.

The person in the story said himself that crypto is a new field, what did he expect? It's obvious that there will be higher risks and you need to study thoroughly, anyway don't get depressed, the situation still might change, hope his family will be ok

He's knowledge is not sufficient that's why he lose all of his investment. In the story he doesn't research or study anything how cryptocurrency works, he relies only in news that people become millionaire in crypto. It is true that some people become millionaire but the question is how they do it? He trades without any knowledge about trading i think it's his fault.

The only advice I can give to you is don't put your every eggs on one basket,and don't invest everything o cryptos.If you have more money divide them invest only you can hold the lost if anything happens.Like 25%. Invest another 25% on lands.They make little income but the land prizes getting high day by day.May be you can sell that land 2X+ within next 10 years.Crypto is good but not too good.Risk is always attracted anything that give high profits. I highly recommend you to read these THE BILLION DOLLAR(book),BILL GATES WAY (book),rich dad poor dad(book)
Learn from your mistakes.Success will be yours

momentum is everything.. not all investor would have a happy ending and colorfull story, espescially for those who had missed the momentum. just make sure we only use our idle money to put in to this kind of investment.

When you come to Crypto investment there is no guarantee that you will benefit in a short span of time. That is why many people in Porum remind you that you only invest the money you can afford to release, because the risk of investing in crypto is very high and this will only create depression and frustration in the part of your investment that will be lost.

I'd say there is nothing else to do at this moment but to charge it to experience. Sad story to read really, but the first sight of him throwing anything he can sell just to get into the crypto market was already a mistake. It was unwise so to say.

Remember that smart investment are those that did came from savings. Selling valuable assets to turn it into another investment is unwise unless we can afford to lose them. Cryptomarket is a tricky playground, what may seem to be an easy ride could be one hell of a roller coaster experience.

So as with many of you, i too would say, never be deceived easily. Invest only what you can and stay away from greed. Earning enough should always be a standard.

You are the only unfortunate one, mate. Most of the other users have been able to make a fortune out of cryptocurrencies and that is why they have continued to be a part of the community.
If you are one of the unfortunate ones who joined in Dec 2017 when market was at peak, then I cannot do anything but feel bad for you. My condolences.

I believe this man is to blame for his own grief. Investing all the money in cryptocurrencies is stupid. If he had invested wisely, he would never have found himself in such a situation.

That really makes people nervous if they enter the crypto market. However, there are still people who are rich in cryptocurrency. It can be purposeful and well invested.

Cryptocurrency market is closer to a casino... fluctuation it shows is much greater than what you'll see in normal stock markets.
I don't think it's ok to invest everything into crypto trading.

There is a foundation mistake made by this gentleman, and that is he has no foundation or rudimentary knowledge of cryptocurrency before investing, other than those he read from news and the ones by his friends. And after registration he was fighting the market when he saw that his capital is going down by investing more as the bearish market becomes more thereby committing more money to cut cost while actually he was doing the opposite. Thirdly he was trading under emotional pressure. These mistakes  are costly ones that will always wreck any newbie.

Same thing I said in one of the members of the telegram group I joined.
Crypto currency is still young at this age. People still do not see it much. Mostly people who are working using the internet knows this. How about those other workers? They do not even have any idea what crypto or bitcoin is.
So we could really say that we are not even in the middle of it.


Could be. But that is what crypto is, taking the risk. Cause if he did not really knew that then he should have just stayed with banks with annual interest.

The biter sweet moral is not to be greedy and make use of ones mind, here just on hearing hearing about bitcoins he brought it, and believing it would touch 50k he didn't sell those bitcoins, it was a foolish decision under the given circumstances.

While it's true bitcoins hodl theory is advocated by all, but it's only valid till you're making a good profit then you need to sell and buy again when it dips. Another common mistake was his idea to short sell it, which was not a great idea. I do hope people realise that greed and short sales in bitcoins is a bad idea.

Probably, you made something wrong, or you were in a great hurry to sell all of your Bitcoins and altcoins. You have to learn much more about the market before you entered it and started to trade there.

if the problem of results and whether or not to join cryptocurency is a personal risk depending on our intelligence in doing business

Holders are the only people complaining right now, there is still ample opportunity to make a profit by day training. I mean look, XRP has increased by 20% 3 times within the space of two weeks, that's 60% profit alone if you bought and resold, is that not enough for you? Tell me another industry where you can make 60% profit in a week? Sure, if you bought in at $2 you'll be angry, but you shouldn't have held on for so long!

We must learn from this story

1. Invest in bitcoin = *very* low risk (until and unless you really are as stupid as a monkey and hop into the top) (no greed)
2. Invest in altcoins = high risk (greed level no.1)
3. Trading altcoins = *very* high risk (greed level no.2)
4. Trading altcoins/bitcoin with leverage = 99.99% chance of losing everything (ultra-greed level)

It's interesting how he first bought bitcoin, then started to exchange them for altcoins, and finally got greedier and went into altcoin trading. Now the real question is, will he lose *everything* by going for the leveraged trading (ultra-greed level)?

I am very sympathetic to you about this. I think you have invested in bitcoin at the wrong time. Bitcoin prices fell sharply this year. All investors lost money. I hope the bitcoin market will recover in the near future.

I wish this story was not true but most likely it is, many join this market thinking that they only need to buy low and sell high so they can make an incredible fortune, but anyone that has been here for long enough knows that is not the case, making money in the markets is an incredibly difficult thing to do that only a few are able to manage, there are very few traders that are profitable and an even smaller minority among of those that are profitable are able to get profits good enough to change their lives.

So it is important to learn from the experience of the person above, do not invest money that you cannot really afford to lose, people do not know how painful the feeling of defeat can be after you lose all your money to the markets, so you must not allow that to happen to you.

This might be in your situation though but one thing I really love about my joining of the crypto world is that, I have been made who I am because of it although I joined it not long ago. 

What I will say about this is that, cryptocurrency is not for people who are greedy. If you think you can invest all your money into it and make a double or five times of your money then please i'm sorry to tell you that, you are likely to loose all your money. Invest the amount of money you can loose.

the lesson that can be learned from the story is to learn first before investing
we need to know whether it's safe to invest and how it works
don't invest when prices are rising if you invest when prices are rising then you're FOMO

Dangerous yet profitable once you know the movement of the market. I think trading is a matter of good decision and perfect execution. Many people are entering in trading without understanding how market fluctuates. They just think it is easy to start and gain but they don't know what are the struggles a trader will meet.

Many commit suicide because of investing in Crypto, and many become millionaires as they grasp the opportunities created by Crypto. In economic investment there are losses and profits, it can not all be profitable because it can not happen.

Of course you have read the "terms and conditions" in trading. Because I'm sure there is written "risk" there. Both big and small risks. Especially when you have entered it, you cannot dodge what you have decided. Because each exchanger must have informed you when registering through the "Terms and Conditions" link

He probably came to the crypto world at the wrong place and time. Also, his kind of mentally, getting into crypto solely to be a millionaire, is flawed. If you have that kind of thinking, then you must understand how the trend woks before investing in it. You cannot just dive into the water full of sharks if you do not know how to swim and survive them, otherwise you will get eaten alive. The crypto world is like that. If you start buying and selling and trading without having a full knowledge of cryptocurrency then you really will lose your investment.

It depends on the way you plan,crytocurrency is forum for investment  and trading you can go bankrupt today and get richer tomorrow

Getting involved in investments needs knowledge and dedication. We should learn how the system works and how to make the right decision at the right time. Meaning we should keep track with our business.

Well thats why alays says that never go to battle when you have no ammunition’s because its a suicide

The problem here is the concern doesn’t really know how to deal with cryptocurrency thats why he’s outview is different from what is necessary,look at him now fails because of being greedy things that can be prevented if he knows the fundamentals of crypto trading

The benefit last year was for those who have long been spinning in this area, and not for those who succumbed to the mass excitement and began to invest all the money in cryptocurrency. This is the psychology of a person, she sees that someone makes money from almost nothing and thinks that he can do the same. But it does not take into account the market trend and does not take into account the risks. Of course, at the same time on every corner shouted that bitcoin will cost$ 100 000 , but forgot to say what year it will happen. As a result, a lot of people pledged their property to banks and now think how to repay debts.

Most people who are now at a loss after the fall of the market made exactly this mistake - they did not sell their assets on time.

By far this is one of the most difficult things to do in this market, when people see the price has gone up a lot they have the tendency to think that the price is going to do the same for a very long time not understanding that the price it's close to its peak and that the best thing that they can do at that moment is to do nothing and to wait but that can be very counterintuitive for many people especially those which think they need to do something to make money when sometimes the best thing that you can do is to do nothing.

The story line true or lies,anything about bitcoin it depends on the individuals, and I can only for whomever to use spare money until you are very familiar with the cryptoecosystem..

I think many people can relate to the story, I lost my own share of investment after some months but I'm glad I didn't invest all I had as at then. This is why it is advisable for any investment to invest as much as you can afford to lose.

The simple and simplified lesson one must learn is that one must do a diligent research in whatever projects one wonna invest his/her $ into likewise cryptocurrency. I must tell you that cryptocurrency that crypto is very volatile and nobody can boldly say that he understood crypto very well, the price is unpredictable likewise the market price of bitcoin and other altcoins.

You will never be bankrupt if you use your money with knowledge. You should not give your all money just to invest in bukas, you should have an strategy about it.

I fell sorry for what happen on your investment it's just need to accept that this is a risk investment with unpredictable market. If you mismanage your funds and did a mistake on the decision then loses will be your outcome. It's recommended to invest only to the amount that you can afford to lose and never expect too much. I know many of here with same story of yours. I'm hoping that you may recover your lose and gain confidence to invest again in a better strategy.

Crypto is like gambling or playing poker, you need to know your stuff before investing / playing otherwise you can and will lose a lot. The media was partly responsible because they only showed the gains, but never the past losses

Right.Many of here have experienced that already but still manage to invest again and by that time they have succeeded already.Knowing that crypto investment has a high risks,then invest only what you can afford to lose.Investing is like gambling,you have no guarantee that you will make profit in the end,so do not expect too much so you won't be depressed when it ended in a negative way.

Crypto is not a joke. If you have weak hands you can bankrupt with the speed of light.  First learn the market cycles then invest and dont forget to turn off your emotions. Simple  ;D

Never think become millionaire in just one night. Investment is very high game and i am believe its not wise to put all our money in single investment. Every investment have risk and we should make anticipation and research before investing our money

in the crypto world that I got, I can't use the experience of others to survive here. all your choices, how do you react. it could be that destruction comes to us because of our own negligence. lack of insight into something we live in is dangerous, going and reading a lot is the key that I hold

Any investment has certain risks, so make sure that your investment amount is within your acceptable range.

It’s really hard to identify who’s to deal with most specially theres a scam everywhere. That’s the main reason why I don’t want to invest. Upon reading all the articles I found out that theres a project that are fighting against scams. Have you hard about this project? Myshield, the first Anti-Scam platform.

not only the trade they started without any knowledge, when at the end of last year prices had risen high and made many people interested in investing, many people joined and invested without any knowledge that they knew just had to hold, but instead the market changed 360 degrees and prices dropped very fast into bottom, and many people panicked and bankrupt at that time

Trade and investment are always dangerous with the loss of capital, especially if the novice tries to work with them. And it does not depend on where he is trying to trade, the cryptocurrency or shares. If you just came into this field - take some time to learn the principles and possibilities, and only then start working.

In the very first place, we all must be open to the possibilities that certain issues and scenarios something like that will arise that is closely relative to be associated with this cryptocurrency we are into. Well, it just shows that people must not primarily be deceived on other people experiences because such experiences might vary from every individuals so the essence of deciding and thinking is all your responsibility to make. It is a sad truth but we must just be patient and wait for best things to cime. Don't loose hope. Everything will be fine in no time.

Bitcoin trading is no different from stock trading or money markets, all of which require analysis and logic. It cannot only depend on simple feelings or information. If you only rely on it, money will disappear. Then learn, analyze, and listen to accurate information to be profitable.

when you are trading don't be greedy and must always be careful when you are experiencing a price where down you have to prepare everything that happens

maybe what makes you bankrupt is that you are very easy to panic and you don't know how to trade properly and correctly. You must be able to have the expertise to determine the right time to buy and sell coins in order to get a profit.

Cryptocurrencies is a dangerous world. I too have lost a lot but I hope now to recover my losses little by little. It has always been said that you have to invest only what you can lose. It's fortunately what I did. My children and our daily life did not have a negative effect on my losses. As a beginner we have a panic when the market price falls. That's what you should not do, as long as you do not sell anything you lose nothing. It will be preferable to have a notice to explain to us what to do and not to do but hellas this notice does not exist.

Gosh! Even when you lost everything, it is not the end. You have to be very strong to get up and start to move up again. I know, there are other ways to get the lost money back.

Complete bankruptcy was due to the fact that this person has chosen false values in his life. Huge wealth obtained as a result of speculation is very rare, and cannot be achieved as a result of playing on a long uptrend, as it was in 2017. In addition, we don't have to put all eggs in one basket and invest all savings in cryptocurrencies.

I don't think so that crypto is responsible for bankruptcy because crypto makes people lives easier like many people are now dependent on it and they try to make money in it and if we check the millionaire they are also interested to buy crypto and they hold for long time period while in these days market is showing a fall which is the main reason that people are slow in buying crypto but still the market demand is high for bitcoin.

We must not expect too much in crypto. We do not know what may happen since it is crypto and it is risky. We must consider losing money even though we can also earn big amount of money in here. Entering crypto is not that easy, not that simple so be very careful coz in a blink of an eye, investments or what we've earn can be all gone.

it also affects, but if I think that there is a lack of knowledge about the crypto world, most people who have not learned properly can cause loss and loss, because working like trading and investing is not easy and the risk is also great.

It is not basically the cryptocurrency must be blamed for your bankrupt because in the first place you have your own decision making upon joining into this. You must have opened up your mind with the risk associated upon investing into this kind of currency. Maybe also because you have mislead yourself comparing other's experiences with yours which is practically not all the same because maybe its effective to them and on your part is not or vise versa. But since you have still been holding for that long, better hold tighter and great thing will happen unexpectedly.

I think you just don't know the good and right way to do good and right trading. Maybe you are still very easily affected by panic so that it will make you lose and go bankrupt like that. Hopefully you can learn from the mistakes you've made.

There are many ways to minimize the risk of Bitcoin loss, such as splitting investment into various types of cryptocurrency. And you have to take profits in Bitcoin, do not be too ambitious in the crypto market. It is not a game and tomorrow you will win.

such a heart breaking story, well in every sad story, there is a lesson to learn, and i guess you have learned yours, one lesson i pick from this story is not to be rational when dealing on crypto, yes some people became mllionaires in the past isn't enough reason to make passive decisions without careful study or rather mentorship from a professional in the field.I have been in crypto up to a year now, and all i do is bounties, still want to understand the market to some extent before getting involved in trading. Yessome friends of mine are making cool money in trading, but i wont let that influence my decisions.

Cryptocurrency is not a magic to turn your investment 10x in a few weeks. Why people have such unrealistic expectations from cryptocurrencies?  Who asked them to invest their life savings and go whole in crypto? It is not wise for any investment asset let alone cryptos which are highly volatile and unpredictable.

There is no one to blame but yourself. Either understand the market or have patience by investing only the amount you can afford to lose.

It's our fault to deposit all our money into the crypto and not to make a profit when prices rise. We are influenced by news and comments that motivate continuous rising. We can't sell at the right time and ultimately sad results.

How sad the story was, that is why the general rule of investing is never invest amount you cannot afford to lose. Always save some money for the rainy season. Never invest all you have so that whatever may happen you can still have enough money for your needs and for you to start again.

Always have the knowledge of what you’re putting your money into.. and never go all in the first time. If he had prior knowledge, stoploss or USDT might have save him from much loss. Worst cases happen in Forex trading too.

Your story is kind of sad. Like everyone has said, cryptocurrency is a risky investment, you could lost everything in one night or you could gain thousands of dollars in one night. My opinion is that they've invested in a wrong time which makes them lost money. But remember, with this experience we will be wiser and more careful. I hope they get on their feet. Good luck to everyone.

I almost get bankrupt too  ut when I realized if I still continue to invest then possible I'll lose all my money. Also I realize that its important to know if your asset has potential so that you might avoid losing money. And I think its better to know your investment first before you invest to. I suggest to you to learn from it and still continue but this time be wiser enough than before, so that you will not do the same mistake again.

This is the story of many traders when they began to invest in different projects , but if a person entered into the cryptocurrency in August , the profit he received, because bitcoin began to fall after January.

This is probably one of the worse mistakes that investors make, investing is a game that takes a lot of time and in which if you want to see good results you need to be ready to play it for a very long time, but people want immediate results, they want to earn a fortune in just a few weeks or months and even if you were able to do that which is almost impossible you will lose all that money if you keep investing.

This market is very insidious, and succumbing to the excitement you can really lose all your money. But if you stick to one strategy and weigh your every decision, you can succeed.

I myself have suffered many setbacks at the very beginning of my earnings on investments. I did not have enough knowledge for trading and I spent a lot of money on it. And so since then prefer to invest in the long term. And now I really started making money on cryptocurrency. Therefore, it all depends on you.

Many investors who have failed, for some reason begin to blame it on bitcoin. But usually, these people are to blame for their failures. This market requires continuous improvement of knowledge if you want to achieve real success.

It is known that investing in cryptocurrencies is riskier than the other investments, because the market is unstable and the price are always volatile. So you don't have to invest more than what you afford to lose. Also, you have to be patient a little bit, it requires time until the prices start to increase again.

Why'd you give up and then started blaming the market? Man up and take responsibility for your actions mate. Don't blame crypto that you got scared and wanted to return the investments you made. Besides, It was you that let the voices of others affect your decision making. Blaming is a very easy thing to do. But at least put your hand on your heart and ask yourself first, am I blaming the right thing?

Cryptocurrency is a very risky venture, a lot of persons have gone bankrupt through this... There are a bunch of persons who think it's a get rich quick kinda scheme, so they plunge all they got into it with a proper research or analysis... But, after a good research and hard work, they will come back to make some profits again.

I think that no one knew in 2017 what will happen to Bitcoin in 2018, so many have invested all their money in cryptocurrency in order to get the maximum income, but as a result, on the contrary, they lost everything. Therefore, you need to be very careful in investing in Bitcoin and Altcoins, since the market is not predictable.

I really appreciate because you shared your experience but from your story actually cryptocurrencies are not wrong but Your step is wrong, why do I say that, because until now I didn't feel bankrupt even though my asset crypto value dropped 60% from May, so be patient if your assets go down wait until the value goes up again  ;)

After reading it till the end he has given some suggestions, his mistakes as a advice for others. This is what happens when you are not proficient enough of what you are doing. He says that he was profitable but not sell them listening to others. This is lack of home work & basic theory of being greedy while you are witnessing a huge green candle. People are fallen in unrealistic trends in a minute where they need education. Studying in schools for 12 or 13 years to be eligible to come as a complete personality. But in investments? Where are we? Due to failure of a wrong practice we shouldn't underestimate the value of the Crypto Currencies. Don't be a trap of others. Learn well before doing anything.

This guy in story failed miserably because instead keeping to his word holding to bitcoin until it will gain value again he decided to buy altcoins (?!). This was his failure. If he would stick to bitcoin, he would never loose money until he have sold them, and he wouldn't before price rise again.
So this was his biggest failure, he didnt listen to himself.

I think your summary of this story is wrong also, its not about whales, its not about mystic moves of market, it was this guy from this story own mistakes. We cant blame others for own mistakes can't we?

Every commodity market including cryptocurrency will test you with risk and kindness as a trial which's true. Each of us has a different experience in each forum that comes in turn. Trade and investment always coupled with the risks of each, and we are obliged to try as hard as possible to endure emotions and increase patience. Every new or old investor, there is no chance to evade (nor can it avoid) from what has been determined by the market. Each of the investors will experience it equally and evenly. Cryptocurrency's very speculative, they go down and go up very fast if you have faith in that, I don't think there's another way but to hold it for longer.

Somebodies luck is certainly not every man's luck. The husband should have studied first all there is to know about cryptocurrency. He should have equipped himself with all the necessary "tools" needed in such a tremendously unpredictable field of investment such as knowledge/proper skills, courage and most especially ton of patience. It is not a game that can be mastered in just one sitting. Well Sir [the husband], its all under the bridge now, and i'm so sorry that you've learned your lesson in the most shattering way.




 

The first rule of any investments either cryptocurrencies or stocks is first..  Never invest what you can't afford to lose. If the husband had prior crypto trading experience it would have been better in making better decisions. But my believe is that our experiences today shape us for a better tommorrow.

No matter how profitable it is, never be in a hurry to join the multitude in any investment that you have not taken time to study and get a hold of at least the basics. Learn to manage your risks and avoid investing with what you cannot afford to lose. A bad move coupled with an unprepared mind is a big disaster waiting to happen. Lastly, learn to control your emotions, especially in Cryptocurrency.

Cheers

It's a sad story, if only he researched and seek crypto knowledge before investing, he wouldn't have been in that mess.
Crypto can give scary especially when you see your fund decreasing, your action thereafter define your knowledge of Crypto.  Patience is key at times.

Crypto trading indeed seems very complicated and real tests adrenaline, when we run it, except for them who are professional and experienced. In trading, anyone can experience loss, if they don't understand well how it works and how technically.
Whatever form of failure you experience, doesn't mean you're destined to endure it forever. Learn what you can from that bad experience and move on to the future you want. You must know, that your past's not the same as your future and not what you did yesterday, but what you're doing now.

Most crypto users in their earliest stages in crypto have similar stories of tragedies. Crypto is not difficult to understand yet entails quite a lot of stuffs as new projects enter the Blockchain. Users need to stay updated by reading or learning about the general market trend before executing their thoughts on investing in crypto.

When bitcoin hits the news for positive growth that’s a sell signal, not a buy signal. Sorry for your loss if you sold. Just hodl. But thanks for buying my coins back then!

Sorry to hear that story, But for me, If we go into investment specially cryptocurrency, Dont think that you will become a millionaire too and take risk investing without enough knowledge. But that is life we need to accept our loss and fails.

Quite unfortunate, but that's just how things go in this field. Make one wrong move and you're done for! This person got influenced by the hype which led him to making the wrong decisions. This is a mind game. Therefore we need to be smart. Smart enough to be able to keep on riding the waves. Throwing in almost everything we have into something we do not fully understand is like suicide. And this is because of greed! The idea of being able to earn quick and easy with crypto is like a day dream. This is hard work which requires time, our brain, and tons of patience.

The first rule of the cryptocurrency world is not to invest what you can't afford to lose. I'm very sorry for what happened but first of all it's your fault, too many people think to get rich in a very short period of time, huge mistake.

Though the strategy seems okay but its a matter of luck also. As you said earlier, there are some becomes millionaires in investing. Maybe because they are pioneers , equipped with really good strategy and very lucky indeed. The world.of cryptocurrencies is full of surprises. You will have to face the fact that you needed to experience loss and have all the risk just to be successful. This is the cycle  and we can somehow lessen it if we learn from that experience.

yes, bitcoin is not as easy as thought. sometimes someone needs certainty, where bitcoin has no certainty
I think all trading activities are almost the same as gambling, they speculate by predicting the future
and the future also has a lot of possibilities, it could be that the coin becomes 0 and really doesn't sell, but the coin can also fly far into the sky

I think that it is really an unfortunate event. I once lost money too in investing in bitcoin but it is fine because that is just a minimal amount. I always invest only what I can afford to lose. That's the reason that I can't go bankrupt. This should serve as a lesson to other people who will start to join cryptocurrency. They should be really careful.

What people need to understand it that cryptocurrency investment is not a make to get fortune, you just don't invest without knowing or understanding how the market operates. These kind of people are the ones responsible for the wrong and negative speculations make about cryptocurrencies. Please newbies, don't invest because you heard people speculating about how profitable the crypto market is. For all you know, this person has advanced knowledge in terms of crypto investment.

it's not crypto's fault if you play along and you go bankrupt. it may be your carelessness that makes you emotional and always rushes to take income. and if you play in Crypto but you always emoai you will not be able to invest well the problem is the brain and heart are not connected.

Well, nice experience for a couple even they fell into their Investment here crypto atleast they learn that greedy is not effective for Investment, play with passion is the right to do and point out some mistake to won't let do it again. And never surrender no matter what and be patience by holding bitcoin.

This man hopes that he could be a millionaire in a short time.
But, too bad this man entered the market when not at the right time. Moreover he almost used all of his money, Too risky.

Good instruction how "Not to do". Here is only one reason why you has such end - your greedness.
If you used diversification risk strategy, everything could turned out with more positive side.

A sad experience to generate bankruptcy from you but have you learned from the mistakes you made at that time because you could think again.

I think people in majority concentrate more on just quick money rather than getting some sufficient knowledge first, especially about projects they invest in. Knowledge will be your guidance and will help you make reasonable decisions rather than act in emotions and loose your money in the end.

Yes it can happen to them or beginners who are affected by big profits or maybe they invest randomly and don't pay attention to the project in more detail. Because I personally rarely see events like this where someone went bankrupt when he just joined the cryptocurrency, with this incident I hope that more people will be more careful to invest in cryptocurrency, because not all of them have great potential in the future.

If you want my take on this, it smells fishy

As for myself, this story feels concocted and doesn't sound convincing. There are real chances to lose money due to a hack or an exchange running away with your dough (think WEX here), but they don't feel tragic and are kind of normal in the cryptoworld. Just like there are things which are too good to be true, there also seem to be things which are too bad to be true as well. I don't know but I have a feeling that this piece is written by somebody close to the ones who had been writing (in)famous tear-jerking Nigerian letters about "a terminally ill wealthy person with no relatives who deposited a huge sum of money in the bank just before dying in a plane crash" (as per Wiki)

Hacking coins is very common. Guys please get the safest coin in the crypto market. AML BitCoin cannot be stolen. AML BitCoin´s transaction system employs patented multi-factor authentication for every AML BitCoin transaction.

We know investing in crypto currency is about risk taking, and without risks, you will never earn a lot of money. So it is better you find out about something more before you venture into it, because without adequate information, you will lose a lot of money.

What is my opinion about this story? Yes listen to you actually very a lot of questions! Are you a trader or an investor? Maybe you are a fan of? If you are a trader and entered the market, you had to understand the risks, then you had to have an action plan, a strategy otherwise, not to get into such a situation as now! If you are an investor-then again, you have entered the market in the long term, Yes you bought of course at the peak, but if you know how to wait, it is still ahead. If the Amateur, and decided as you say to get rich, then I sympathize with you, you've done something stupid!

This very unfortunate to hear. Feel so sorry for this person but a lot can be learnt from this. It sums up what have been said severally on this platform. Invest as much as you can lose, dont expect to get rich within days in crypto and as much as possible, educate yourself especially when you want to venture into trading.

The cause of your problem is that you had unrealistic expectation as you entered the market. Moreover, greediness brought you in. I think you can save yourself the next time by taking time to educate yourself anutime you wish to invest in anything ever again.

There are a lot of stories like your husband.I agree with you that of all situations you need to gain experience and learn.Bitcoin will still cost more than a few times. Just your husband did not wait for this time.Bitcoin has always grown in price, but now it is more or less stabilized. If you decide to invest, then be ready and wait for the profit not for 1 week or 1 month. Such rules.

Cryptocurrency is a risky type of investment. Therefore, you should be prepared for the fact that you can lose everything. Big risk can bring greater profits. If you want less risk, it is better to keep money in dollars.

Not all people will really have a good story with cryptocurrencies because it depends on your decisions being made and that's how investor's story are made. If you are just always making good decisions, then you will probably have good story to be told.

There's no fixed profit that will rise eventually in the future, and these people who just joined investments of cryptocurrency, didn't actually learned the risk and benefits of crypto. Given to that random investments for a specific projects which has an involvement of crypto, it doesn't mean all of them can be trusted. Most of them we're scam, and only selected one can be considered future profit gainers. To be careful is somewhat a knowledge learned from a certain mistakes, and hopefully we can deal with it with the next projects to join with.

This is not the first time I'm seeing such a situation, nor the second. And it won't stop. The thing is, such situations are tied with investment, and that is why it's mostly advised to trade, invest with your brain not your heart. I'm sorry to the couple, and I hope they come back up in really no time. For everyone reading this, please follow the simple rules of investing, you can have a broker who really have the intelligence and the experience in crypto trading so that you can have at least 70% of its chances of it crashing on you lowered.

before joining the crypto currency then you must know the risks and you have to know the characters from crypto who have prices that are difficult to predict and will continue to change so that you will be ready and know what you have to do

Every people have different kind of stories, but not all of them ends with happiness. It's really hard to give advice someone about crypto, all i wanted to say that, becarefull before investing and invest not much money which can hurt you.

If you invested only to bitcoin and still holding, just keep holding, because as you can see, the price everyday is not always the same,

It could go up and could go down as well. Bitcoin will going to comeback not only on $13K but more than that for sure.

You are only almost 1 year in the industry, that's still early, you need more experience, and more learnings. But if you invested to many cryptos and making trades

everyday, that's a different story.

That is why it is bad to jump into something you do not fully understand. He does not know bitcoin, yet he invested in  it. And then when things is going bad, he jump into another thing he does not know, trading. It is just money, if he can collect himself, he can earn it back. And hopefully, in the future, he can have a better decision in making his investments.

First, I would like to apologize to you. I also recently participated in the electronic market, and also drawn some experience for myself that is never invested under FOMO. Wish you luck with this market

That's what you get for going all in on such a volatile industry. Never go all in on ANYTHING.

Hedge your risks, diversify your portfolio and set stop losses for everything. You can still make money in crypto, just be damn careful whilst trying!

Its always good to spread your investments. Even Mr Warren Buffet gives this as an advice on not placing all your eggs in one basket. Just look at those holding firms, they have different business but they all started with just 1 and eventually they grow and diversify. Problem with others is they think crypto is just Buy, Sleep and Sell. It doesn't work like that, it also requires a little effort to monitor the price and do a research. Even in other businesses, like Nokia where they failed to catch up with the market or they failed to evolve, their #1 spot 15 years ago in mobile phone industry was taken away from them.

when I first joined the cryiptocurrency I also went bankrupt bro. but I tried to get up as much as possible. finally I can get a profit. so that it can help my economic growth bro

After I read its chronological order, it seems that there is something wrong with what you are doing, you enter at the wrong time, when the market price is soaring, as high as possible, of course if you make a sale in 2018, you will experience huge loss.

You have to believe bitcoin will definitely arrive at $ 50k in the future, if you have faith in it, and still have the bitcoin you bought at that time, you should wait, a beautiful moment will surely come and be able to treat your wounds.

Unfortunately, and contrary to what many people think of the crypto market, money is not created from thin air and for some to win many others have to lose. Unfortunately many unsuspecting investors were carried away by the euphoria of cryptocurrencies throughout 2017 and the results were truly tragic for many of them. But of course we should not blame the market for our bad decisions; we must assume the consequences of our greed and learn from it so as not to repeat it again.

same here but i think almost all of us do already experienced it at first when we are new to this crypto currency business , that is because we dont have any experience yet but as soon as we learn the basics of it and we learn to improve our self from our mistakes and errors , we can soon master them and we can now be able to gain a consistent profit .  we can recover our past losses and we can earn a much better income in the future as long as the market will be in good shape .

And i would add here that when people invest they better make sure to leave money in the bank, around $1000-$2000 could work in case something happens or if you need money for anything - Since you just can't use your Bitcoin if the price fell a lot under the price you bought it. And this is something that is constantly happening in this world.

If you have a family then you better don't risk losing your house and/or their well-being for anything in this world. A lot more money can be nice, but you can't play with something so important.

Its good for them they join in cryptocurrency before 2017. That year is best year for cryptocurrency so far and 2018 its hard year for investor because most crypto price drop the price. But if we keep hold it for long term, i am believe it will profitable investment

bankruptcy you are experiencing is actually a process, where your first time joining the great and crypto you invest, certainly you have not learned about market crypto and crypto itself. should you invest with less money as a rookie, and invest by some crypto has rapid growth like bitcoin, never try investment coin first ico crypto, it's very risky. But if you don't feel discouraged and give up on your investments, you could try it again from your experience and you can get advantage in your next investment.

Probably, investing in Cryptocurrency, you should accept losses and gains, as they happen continuously, if not hours. If you choose to invest incorrectly, you will quickly lose money in the cryptos. You should invest in coins such as Bitcoin, Ripple, Ethereum, and coin on the top 10, you will have the opportunity to get more profits.

if you go bankrupt when you enter the cryptocurrency world it looks like you don't know the right way and a good way to trade on cryptocurrency so that ultimately makes you lose like that, you should before entering the cryptocurrency world learn first how to trade properly and correctly.

When you should enter a financial on the field, the left of the profit you must take the risk or that the market field has to. You are ancestry to do you due to root and no find it understand. Do you should follow the price chart and the current knife and stable specified, don't set the large item to your first, but just enough to be profit.

Interesting example I would say. Yes, you always look for the big example which started with the small beginning at first and then they grew because they spreader themselves everywhere and in every possible field out there.

I know one or two rich people from the India, that is Ratan Tata and Mukesh Ambani who are leading business man in the Asia-paciific. They have business in almost all the sectors and recently Tata has shut down their Fashion related business because it was big time failure. They did not care much about its failure because the loss that they had was related with that business only and considering there huge businesses they might have felt nothing about it.  ;)

If any body is investing in the trading market with his own money portfolio then he get loss and bear that. but money borrow from second person or any bank then it will be always risky because this is totally like a gambling where profit is huge and loss is also big. so always invest your own money.

First of all sorry to hear that you got lose and also had problem with your family. But when I was reading your article you mentioned that you were the person who knows that there is high risk in this field. I can understand that loosing of your hard earning money make you depressed - it's natural. From your topic I don't get where you invested ? - ICO, ALts or BTC ?

As you mentioned that you loose everything in it - looks like it ICO. If it's ALTs and BTC then HOLD it - or start to take advantage of daily up down movement to cover your losses. If it's BTC then today or tomorrow you will get the benefit.Because no one can decline that cryptocurrency are the future and BTC is father of all. BTC are limited so even some part of it make change. I am not expert in this field but still I believe that if you have BTC - have faith at the end you will get more than what you expected.

Wish you great life and hope you will get great profits in future my friend.

Hello dude. I am sad to read your story, you try to remake your career. You should remember that procession at the beginning of the transaction, you must know the risks that you will face. I think you invested in bitcoin at the wrong time.

I have read this kind of story after all the coins continue to decline at the start of this year, people are so excited to invest when the price to continue to zoom up, thinking that it will continue to go up, because these so-called experts predicted that it will go 5 to 6 digit and people become so eager to buy.

I am good when i joined crypto currency like bitcoin and those who are using this for good and they have balance in life then i think they will not go bankrupt. But if we work here or invest here with care and also to use a good portfolio then you can skip losses.

I also like that. when I joined the crypto world, I was able to make quite a lot of money, and even made my finances increase. Well, if you go bankrupt because of this, then you have a bad strategy.

cryptocurrency is a complex digital currency even though it can be a source of income so also it can be a source of sorrow if you are not careful. many people join cryptocurrency today with the hope of getting rich quickly. I have ones met a woman on telegram that lost her retirement money to denaro scam and many are still in the same shoe she was. I have always tell my friend that do not put all your eggs in one basket. It is malady to put all your life saving into a single source of investment.

Actually this is very very unpredictable market as well as. No body can not give suriety about crypto market. No prediction work behind crypto market. It is very much painful who bankrupt in cryptomarkt. But he should be careful about market as it is new in economical industry. Beside this there are some gamlar who doing rough work behind this market. As a result market has fall into 19k$ to 6k$. So my best suggestion is trade with very carefully and with your own decision under market condition.

Mismanagement of assets or mishandling it can be the reason why you will suffer from bankruptcy. Others who have managed their assets properly became succesful and i think hodling their assets in times of crisis is one of the reasons behind their success.

Many people fell into this kind of scenario. They enter into crypto full of hopes and dreams, ending up in a fantasy and nightmare. They were given false hopes by whales. So this is a classic case of reality versus expectation. What I can advice people here before entering into something, study very well the world you want to enter, 'coz everything might just be a make-believe and before you become an ignorant puppet of someone. In this crypto world, you need to be equipped with knowledge and guarded from greed, otherwise, you will end up a loser. Always remember that small real profit is better than a bunch of false profit. And yeah, you should always have a fallback. Never trade your main bread and butter into something as volatile and unpredictable as crypto.

For all my experience in the crypto market. My stories are similar to others, not exactly. Because we all do our process differently. Someone invests all their money and sits waiting for profit. And someone makes smarter and invests part of the money. When the process went to profit. Just increasing the amount. Yes there are failures. But it is better to lose a little bit than everything at once

I agree. It is mot about engaging too much and dedicating everything. It is about how you play the market and how you do trading and joining bounties. We cannot really say that something is profitable therefore you must be smart enough to analyze the market's conditions.

in my opinion, if you ever leave a job and invest is using unused money, don't use money for your daily needs, so my opinion is that you have to be patient in the crypto market, don't be greedy, because sekrah will make you lose everything

Yes, I agree with you. People do not want to risk but they want to be a rich man fast. Bitcoin price always up and down so first know about cryptocurrency than try to invest bitcoin or other cryptos.But most of the people buy bitcoin when its price than the price was down they don't control there mind and last they sell bitcoin with the huge loss.So i advised these people never try to invest money bitcoin. Last 1-year bitcoin price down so this time only for hold and hope bitcoin price will be back again.

Investing bitcoin as a job creates more income because it is so volatile that if we just focus on it and when the risk comes we will lose.

when I entered the cryptocurrency world my experience was very lucky and very good because at that time I learned how to get free bitcoin that I could get from the faucet and so on so I could get trading capital that I could use up to now. patience is the key.

Very sad story. But I think if you consider the purchase of cryptocurrencies as an investment then you need find out the basic rules of investing. One of the most important rules is to differentiate your investments. The author should`t have invested all his money only in bitcoins. It was necessary to study the entire cryptocurrency market and invest part of the money in other promising altcoins.

That is why before buying and trade in cryptocurrency first you need to learn how the market are. We all know how easy the market to drop when it high bump. Learn and study about cryptocurrency. Regret later is not used anymore.

Whatever happened the most important thing is we have learned lessons from it and next time we will be more careful in making new investments. And we need to study more before investing huge capital.

The same thing I experienced because I got a little good profit but it was different from a few months. Bitcoin prices are not as good as they used to be. A little sad thing.

This is a pathetic and sad story. I wish he had more research and understood the space more.

yes, when we jump into the world of crypto, only the risks that make us lose. but the risk has become commonplace and we can reduce it if we are smart and wise in making a decision.

Bitcoin is the concern of many people when the price rises quite high by around $ 20,000 at the end of 2017, many people want to have bitcoin and they are even willing to leave the main job and switch focus to bitcoin. At present what they expect is not in accordance with the reality that is happening, giving rise to negative thoughts on bitcoin. For this reason, we should think well before doing something and do not follow lust to try something big in a short time and leave or sacrifice what we already have. Investing in bitcoin promises great profits, but it's best to invest safely using the money we have without forcing ourselves to borrow money or sell the house we have.

It is always like that when you do not understand the cryptocurrency  and just follow others without any know how on cryptocurreny. It is always good to know the rudiments of any business you want to do at least the foundation of the business. He should hold what is left so that when the market reverse and the price will move up for more profit. If he could not be patient and wait for the market to rally he will lose all the investment.

You are too careless in making choices to save your money in crypto, and are too optimistic about profits so you forget the risk of crypto. This is a sad story, but you are not frustrated and go home with losses. Be patient, this crypto still has a chance to grow, and if you hold it you still have a chance to recover your losses.

Yes, experience and knowledge are very important, it will be a foundation for us. if we don't know anything about cryptocurrency and just just imitate our friends, we will only get losses, because we don't know the market conditions, and we need patience to wait for the market to rise, because market conditions don't always improve, but will experience a pair ebb

You're right about the tips you gave on not borrowing money or selling house to invest in bitcoin but the problem the person in subject have was following the crowd cause he didn't take his time to understand the most important aspect in cryptocurrency trading and investment which are when to invest/trade and how to prevent losses.
I dont agree with what you said about "leave or sacrifice what we already have" cause we have seen a lot of people who leaves and sacrifices what they already have into bitcoin and they were happy today just because the know the in depth of the project.

Obviously people convince to adopt cryptocurrency because of the opportunity become a millionaire
But didn't learn wel how to accept risk in this new digital currency possible to lose all investment in a quick
Specially in trading if they didn't know the right deriction to earn profits

There is a danger in every business, if you invest to something there would be lots of risk. So cryptocurrency have it too. The bankrupting depends on the how you invest. If you spread your risks you can't reach to zero i guess.. I am holder bitcoin and 300 another altcoins too. There are rising or fallings every new day in my accounts, i just try to catch the right time to exchange them..

I am sorry this happen to you. You should have a look to AML BitCoin. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.

I am sorry to hear that,  I know there are failed stories in bitcoin journey and it makes me feel bad about it. I know its nlt easy to earn funds and invested to projects in the market.  Sad to say you are victim of the low price rate and the months of unstable value. I just hope you can find new ways to succeed and get what you lost.

Overconfidence is not that good if you think the system is perfect, everything has a set of limitation and we should aware of that too. More and less is not really good that's why we have to stay in the middle because if we push too much of what is our intention then it's too late to realize that we are off the grid already.

This is the key, many traders think that they only need to have some knowledge about how to beat the markets and they are going to become rich thanks to that knowledge, but that is not the way it works, even if you have a way to earn money out of the markets that doesn't mean that you're going to obtain profits out of them, you need to have a way to manage your money so when a long string of losses happens you do not go bankrupt.

So you need to manage your money in a very careful way because if you do not then it is likely that when all of those losses happens you will be unable to recover or it is even possible that you lose all your money.

What people should learn from this story is to withdraw their profits until its not to late. If you invested for example 10.000$ and you double your money in a few months I would say it's better to just get your money, take a break and then come back with a another investment when you are ready to do it. Don't expect to make 100.000$ from 10.000$ just by investing and then waiting for your profits because that is never going to happen.

Everything here in this industry has a risk involve, this has been said many times in the forum actually. Then, most of the members of this forum also reminded several times especially for the newbies that we must be careful and always study first, read most often, watch you tube video about crypto, so in the end we won't be like others ended up into nothing.

In order for one to have a really healthy investment in cryptocurrency specially bitcoins, you really have to be active when it comes to trading. Prices for bitcoins are extremely volatile due to the fact that it's ultra expensive. So play it safe and get even the smallest profits.

He needs to start from the beginning because of the bankrupt, and he doesn't have anything. But if he still has money, then maybe he can start to buy bitcoin or buy the low coin price. I am sure that he can recover his loss, and he can make the profit again in the future but there is a lot of work to do, and the important thing here is he needs to learn about trading so he can be able to make the profit. I agree that he should trade with safe and don't expect the big profit if the situations are not right, it is better to get the smallest profits than never.

This post sounds more like a Blame game on Bitcoin. That what I dislike most about this post.

Your personal failure, has to be owned by you. STOP BLAMING BITCOIN!!!

No one forced you to join the Cryptocurrency trend. You with you Greed of becoming a Millionare are responsible for your own Failure.

Learn and then Invest. This is not a quick rich scheme nor anyone can predict the market trend.

Its is good, that you have realised what a fool you are and best option is to HODL till the Bull market returns.

Cryptocurrencies are the most riskiest to trade if you compare it to forex and stock trading but the rewards are higher if you are successful in your trading. You need to prepare yourself first before joining the trade by studying it and gaining expertise or experience. Going into a trade without enough preparations will only result to losses, frustrations and giving up. One should study the cryptocurrency and market behavior and don't expect success in your initial trading becuase it will took time before you become expert on trading. They said "there are no secrets to success. It is the result of preparation, hard work and learning from failure."

If you use your crypto in a balance way then it will be good as we see that people become more rich in the crypto industry and on regular basis crypto have shown a rapid growth in the past 3 years and now the market is volatile but bankruptcy can cause you huge losses. In my opinion when i joined crypto i have also keep some money in bank  on which i want to earn something to minimize the risk.

Yeah the incident often happens where many people join without any knowledge, just because their friends manage to profit from holding, and then many of them try the same thing (buy and holding) and when the price changes occur that is weakens and breaks down they sell it and bankrupt

If you enter the world of crypto, you must do some thorough research about it. Have some basic knowledge before you do some risky things. And number one rule, invest what you can afford to lose. Dont go all in with your money in investing, leave some bro. Cryptocurrency os very volatile one day you are in a cloud nine, the other day you will be in hell.

You are definitely right about it. I have learned my lessons as well. Trading is as hard as it seems as there is no guarantee for a real success. Sometimes everything seems to be more of a luck than a real opportunity that can be studied and prepared. The best thing that he could have done was to study it before really investing a lot. I felt how sad he would have. Lucky for me the money had not been so important when I lost it. But I still think that there will be a time maybe in the future when everything will be back to normal so I am just keeping my coins and holding it for as long as it really seems reasonable. We need to have stop loss value that is the only way we may be able to limit ourselves and our loses.

I think we are to blame for our troubles. If this man had played more carefully, he wouldn't have lost everything. IMHO

This story is same for everyone that came in early this year or last year ending. Everyone was too excited to notice the market was over priced.

I think it's wrong that you yourself might join in Crypto not know what it means and how it works. and you are in a hurry to invest to get money. but instead you got tricked. and your money is gone with a blink of an eye.

No one will really notice it because crypto that time looks unstoppable. With so many news and a lot of FOMO's getting in, everyone was really exciting as if we're taking the world by storm, we almost did touch the 1 trillion marketcap, it was really a huge success last year.

However, for those who see that the market is overbought, they knew what was coming and maybe majority dump everything including bitcoin at the early months of 2018.

many people don't think in detail when buying bitcoin, especially when crypto prices increase at the end of last year. I also experienced it and lost quite a lot of the profits that I hold up to now, but a lot of experience gained and made me more resistant to the current situation, at least I feel it now rather than later with greater losses, I did not give up to go bankrupt and try to trade from the remaining available capital.

It is very wrong to be greedy, don't always want it all. When you trade, trade with caution and moreover many people came in this year January with the mind set of making it big time overnight.

And never borrow the money, especially when you are going to spend it on the cryptocurrencies. Always remember about the crypto market high volatility and do not risk too much.

I must say you invest because of multitude

You didn't carry diligent research on what's bitcoin itself before jumping into the trading. I must say alots pf lesson is needed in this days crypto.
DYOR
Do not FOMO
Do not FUD
TS
TC
TA
Candle Stick Reading
etc

Crypto is a very risky thing to play with and many went bankrupt, especially because of hard times lately, you are not the only one who experienced that, but that's how the game works.

All types of investments has risks at its own level, thus always bear in mind not to invest you can afford to lose because if you fail you would end up blaming up yourself. Also you should do your own research, plan & wise decision making and not just rely on hype and others speculation, then trade wisely -- buy on dumping period and wait for a pump to possibly to earn profits.

I guess because of the way you entered into the cryptocurrency business, I don't want to blame you, but I think if you had followed the rules you are suppose to be rejoicing today.

This story may indicate that you need to closely monitor market trends. I think you got a good experience and understand cryptocurrency more than anyone else.

come on, this is not real money..and everything has a risk

If the reason is this was your first come, then it reasonable. If you're always in bad luck while invest in altcoin or never make multiple profit, then it was your fall, because you haven't done the right research like the others do. However, at the very beginning people always say, invest in crypto is high risk.

You only need to study and research more about coins that you will invest for a long period of time because if you just choose and don't see the development of the coin you will experience a big loss.

You can make it as a part time Job without losing your current and regular job, Yes i heard that 2017 is got a many millionaires , but think of it twicely to be sure that you willing to invest on it And when you invest in crypto although there are hope for you to become one of the millionaire someday you must take your limit to prevent not losing your money if your can't be successful in investing on it. Be sure on the action you did before get trust your money grow.

One of the lessons to the story is to never invest all or almost what you have to sonething. Always have something half for yourself because you can’t always be sure. Its okay to be greedy sometimes, but always think thrice with your decision.

the investment without grounded by doing a research is suicide I think. everyone knows the huge risk cryptocurrency to accept the loss, but all that could be overcome with the knowledge we have. Learn about the market and how to start investing crypto in order to get a profit. I think not only you receive the disadvantage of crypto, some people including me also never experienced investment losses from crypto. but can all be overcome with knowledge.

You know, many of us had the same history. We did not belive anymore on bank and econoimic system that was set up all over since now, so we face the bugs of that with our blood and hits. So we want no longer something like that because we already know why this system is gonna collapse sooner or later and the poors are the ones who will lose most of it becuase they are left alone at the end of the chain.
Is this fair ? If you still think in that way go with fiat and never look back, but we are here to make history.

I would say I agree with you that we should invest what we can afford to lose but there is something missing in there, the term research and study.  We should study whatever venture we have to make.  We must fully research it because it is not good to lose something in the end even though we can afford it.  As much as possible we should make sure to avoid losses especially when it comes to investment.  So, aside from  using the money that is "free", we must do our research very extensively.

This is very unfortunate and I hate to hear stories like this. 
I hope things get better for you in the near future.

It was very easy to tell that the market was overpriced and you did not needed to be an expert to know that was the case, if people were unable to see this it was their own fault, so I hope that they learn a lesson out of this, never invest in a market that has moved off so abruptly because sooner or later a crash will happen and if you invest at that time you are going to be the one that suffer the consequences.

The time for becoming a millionaire within a short period by investing in cryptocurrency has long passed. Cryptocurrency investment nowadays involve a lot of technical decision making coupled with the ability to foresee currencies with potential to give you high ROI. To all those who came in when the market was booming, it is my hope that things will turn around so as to restore the confidence you have in crypto.

I am good when i joined crypto currency like bitcoin and those who are using this for good and they have balance in life then i think they will not go bankrupt.

Many concentrate in the few stories of individuals making fortunes out of the market because they want to believe they could be the next, but the truth is the story is a lot more common than what many people think but many are afraid to recognize that they made a mistake when they invested in this market and prefer to hide that information, let this story be a lesson to all of us if you're not careful you can lose all your money.

It is just the unlucky case. All the responsibility for the investment lays only on our own shoulders so no one or nothing is there to blame. Be smart while investing. First get a deep knowledge about your object of investment. If you invest smartly and at the right time you can make a really good money. No one guarantees you a millionaire's income right away but you can improve your financial state for sure.