Bitcoin Forum

When I'm new to this crypto sea,I wondered about many things that my boy shared who is a crypto marketer since 2013.He told about rise in value of all coins,trading,how altcoins played a role .I mesmirized seeing more than 1 crore he has in his pocket.His hardwork, his holdings finally went worthless because we lost everything in a single day owing to market crash the day we forced to cash out the holded money for a very emergency need. I lost my hope. My love towards crypto made me cry at last.we forced to pay debts.But Currently his hardwork again made me to get focused towards crypto ,also myself into it.I think a day comes I will share here again with an statement Crypto Saved My Life.

If you haven't already, it might be useful to look at how you'd have been able to lose less funds so you could keep doing what you were before (essentially taking less risk but trying to maintain a decent profitability).

This shows that you people have no money management. A market crash is nothing if you are holding crypto or have funds in a spot trading account. A big market crash only liquidates the future traders and you should never do future trading without money management.

Anyways nothing is lost as if you start accumulating bitcoin from now onwards, in few years time you will still find yourself in good financial conditions.

It was a wonderful feelings when you released the new technology.During 2024,no one think bitcoin price crossed 60k dollars,but it was happened.So the impressive one in bitcoin is,it will make happen of things,which is not even imagine one in your dream.Many people become a millionaire and billionaire when the price of bitcoin crossed the value of 50k dollars,it only happened with the help of crypto and bitcoin.

If I may asked what such of Crypto is he holding and why was the funds went down without utilization?
This is periodically and automatically showing a sign of greed being that having the opportunity to sell, trade or convert before the fall maybe would have been in Bitcoin by today you might have be a millionaire.
Get involve today and hold some BTC to enjoy the future.

Bad experiences in the crypto world will always happen. You are not the only one who experienced this incident, there are many people who have experienced even more severe events.
If you are crushed and down because of bitcoin or crypto you forget how to manage crypto assets properly. Your son is a crypto trader since 2013 of course you should know what he is doing, if you are able to survive until now, you will be even more confident of being successful in crypto.
The most important thing is that you can learn from the mistakes you have made in the past.

We've got our own dark days in the crypto too, but we managed to overcome these problems and rose up again with experiences in the field. It is okay to make mistakes as long as you learned from them. At the very least you are still here and are continuing on, there will be a time that you will surely be thankful that you did not gave up on this. Bitcoin also save my ass, if I wasn't introduced to it by some close friend, I would've been in a position where food is hard to put on a table. You'll just have to bear with it, trust me it is worth it, the people here remained for the same reason, and I am telling you there are worst than what we had experienced yet they still managed to fight back, and stronger this time around.

You are right and this is something which is inevitable or couldnt really be avoided because there are indeed instances on which you would be experiencing lots of problems and hard decisions whether you do sell or hold

and several factors would really affect out on overall decision that you would be making.Outcome in the future will depend on what you had done in the past and if you do believe into the coins that you've been holding

then most likely you would really get profits but not all would be ending up on the same fate since it will always be depending on what project you are investing with.

You should have only invested money that you would have been able to lose. Well, it is not like you made a huge loss. You only lost your profit and I am sure, you were still able to make a lot of profit since your coins were from 2013! Maybe you couldn't maximize your profit, but still you made something. You had to sell it because you had no other option. So instead of regretting, be happy that you were able to sell your coins and clear your debts. Now start investing once again as much as you can.

Are you from the future?

Don't worry because it's never too late to start. Basically what happens in the crypto market will be very diverse, and you just have to start one step at a time. All of us who were the first to feel so sorry, but that doesn't mean we have to mourn it and not start again. There are many opportunities coming and new projects that you can pay attention to in the crypto world and it's not how long you know about them, but how interested and willing to learn to be in the crypto world.

Bad experience will be your best teacher someday you shouldn't lose hope about crypto because there are times you will see the fruit of your hard work. Although the question is do you learn from your past mistakes or you will just keep doing what you were doing from the last time you were lost?

You should learn from the mistakes of the other plus a money management or risk management will help you control what you aren't supposed to be doing when in the market. And never ever use a borrowed money to invest in crypto.

You will succeed one day if you go ahead with your hard work. Many people have improved a lot from the crypto world. You may have lost your crypto in a much larger need.If you work hard again, you will definitely return to your previous day.

I am sorry for what happened to you but I have to tell you that, as usual in this type of posts, I see again a breach of the most basic rules of personal finance and investment:

1) Only invest money you can afford to lose.
2) Have an emergency fund for contingencies.

I hope that if you invest in "crypto" (or better, Bitcoin) again, you will do it respecting these two rules. And the more you read about personal finance and investing the better.

As you mentioned your son are interested about crypto on 2013, if he just avoid all shitcoins and only invest on Bitcoin... you would achieve financial freedom since the Bitcoin ROI is 31833.22%. It was a tough lesson for you and also your son, you can't change the past, but you still can change the future. If you still interested with crypto, just invest in Bitcoin. Diversify is a good idea too, but don't diversify too shitcoins instead real estate, precious metal etc.

This must be a mistake committed by a lot of Bitcoin investors. You are definitely not alone in this experience. But I hope that your experience will once again, for the nth time, remind people not to invest what they cannot afford to lose.

The Bitcoin market, or the bigger crypto market, is a risky market. You cannot just invest money and expect smooth sailing. That is why when you decide to invest, make sure you are only investing your extra savings or an amount that is not intended for anything. Emergency funds should not be invested in Bitcoin so that when an emergency arises you will not be forced to sell your Bitcoin at a loss.

Someone who is in this market for long should know that only bitcoin value goes up, everything else dumps against bitcoin.

Such market crashes only take place in pump and dump shitcoins and never bitcoin, even the big drops it has after the bubble takes a year.
I hope this has been a good experience for you to never bag hold altcoins again and only stick to bitcoin.

Sad to hear about your loss but this is supposedly how this market works which is why it's said invest what you afford to loose.The mistake in your case was altcoins investment as they are not much profitable in most scenarios and if you have picked up some really worse coin under pump dump scheme then your funds will be gone guaranteed.I remember back in 2017-18 period losing quite amount in ICO burst period but take it as lesson to move ahead safely.

I guess that your son made a few mistakes,but that's alright.Mistakes are necessary,in order to learn valuable lessons in life.
1.Being too optimistic and kinda delusional about the future of altcoins.
2.Panic selling when the market prices crash.
3.Trading with funds you can't afford to lose.
Life is all about ups and downs,sometimes it gets really hard and after a month or a year,it gets way better.
I don't think that crypto "saved" your life.Crypto is just a tool.You and your son saved your lives by hard work and not giving up. 

It's why people who trade always say to only invest what you can afford to lose. That also includes taking into account emergency funds. Your investments aren't sources of money to be used in case of emergencies, but rather they're your passive income(at least part of it) most of the time. I'd recommend trying to earn more money, at least until after paying your debts your living relatively well. Then invest most leftover funds after deducting payments for regular expenses to crypto. No need to invest it all at once, you can invest gradually.

You are not alone in facing the rigors of living through crypto, as there are already many people with stories like yours and many of them have suffered bigger losses. The difference is how we can bounce back from our adversity and realize that what we are going through is just a process that will not stop.

Here you can learn that investing in crypto doesn't need to use the money you will for your daily needs so that if the crypto market goes down again, we can still survive while waiting for the crypto market to recover. The important lesson is to only invest with money that you can afford so that it doesn't interfere with your daily needs.

Incredible when looking at the ROI of 2013 to date, 31833.22% is a remarkable increase. But his son could not manage his investment in bitcoin, so he panicked and sold everything at a low price.

i even 2013 still don't know bitcoin don't even know cryptocurrency.
this is the importance of doing long-term investments if you really believe in the coin, especially bitcoin, I'm sure there will still be many surprises in the future that bitcoin will give.

Fortunately, when I first got into the crypto world, I was only interested and focused on bitcoin because I was still hesitant to choose another coin.
but still through the twists and turns and regrets that occur and it will actually be a valuable lesson and experience for us to learn well and for improvement.
I understand how the OP feels, and that's how the crypto world has its ups and downs and also requires a strong mentality so that when we fall we can get back up. And it is also important for us to invest what we can afford to lose.
we all have different experiences and regrets in different ways, and it's all for us to keep learning and not give up until we master it and make good profits.

You can't "lose it all" in crypto, we are all aware of this right? You need to do leverage trading in order to lose it all. Bitcoin has been as high as it has ever been aside from the ATH we had a few months prior. This means that you can't really lose it all in crypto, unless you are investing into shitcoins, or investing in leverage trading which is already bad enough if you do not know what you are doing.

I have to say it is quite difficult to feel sorry for people who do not understand what crypto is all about and how you could be risking all of your money in that way. Just invest into bitcoin for example, especially if you are a newbie, and you will be fine.

sorry for what happened to you, your incident is the same as mine before, but this is a lesson and motivation for your life that saving in the form of crypto can help you when you are in trouble, make friends with people who understand crypto so that you will not get hit when you buy deceptive, so that the funds you spend can be controlled

Crypto investment does not guarantee that we will make big profits like other people, but it does not mean that crypto investment is not profitable because some people can experience defeat or victory in the crypto world. that's why if we are not ready materially, emotionally or knowledgeable then don't rush to invest in crypto. study well first and start little by little. In investing in crypto, of course, we do expect profits, whether it's sooner or later, but don't forget the consequences. in the process there is the thing that goes smoothly and those that don't, it's just a matter of how we react to it and make it a lesson for the future.

No one in this crypto world is successful. All I have seen so far is that no one has ever been successful in cryptocurrency.Many of us may know that by investing in something we can get a good percentage of profit from it.I have been holding the BNB since 2017. In the meantime, the BNB reached its peak in 2021, but I could not sell it.But whenever I need, I have to sell this BNB to meet my need.There is nothing to regret here that you may have sold your needs. People do everything they need to.If you work hard you will again be a successful person from this cryptocurrency.

Reason why people lose money in crypto is mostly lack of patience. Some people want to make huge profit overnight base on what they read online.
Market crash does not mean it won't recover, selling when the market is down is not a good idea, I hope by now you have realised that and gain enough experience to do things differently this time.
Always remember to invest what you can afford to lose and learn to have patience.

I’ll never forget the day when bitcoin crashed in 2019. I sold all my bitcoins in panic which I regret totay.

I think what you should blame is yourself here, you cant lost all your coins simply because of the crash in price, it can only reduce the worth amount and what i see to the mistake you did here is that after the crash you went ahead to trade and also run another loss and there has been need already in place demanding for the fund, so at the end you end up loosing after holding for a long time, this is your personal error with wrong timing and trading techniques.


Hopefully for you, you're not giving up which means you have learnt a lesson just in a hard way from your own mistakes and choose to move on, i will advise you to stick strictly on bitcoin and avoid any unrealistic projects and sh*t coins that have no future and don't be greedy enough in making profits, it takes time. i wish you a better experience at this second phase.

Sometimes we got dragged by being greedy, we think that if we are lucky today it will still stay until tomorrow. That was wrong and we don't have to carry this kind of mindset, we just to be fulfilling enough to earn a small profit but at least it was continuous.
It was not wrong to aim to earn more but in a situation like this, putting all of your money into a single trade is risky.
I suggest getting back to the old strategy you have used before, that I think was more effective than the new one. And I felt bad hearing that story.

trying to earn a merit? is this a fishing post? but sorry seems like no one cares about your created story , your account was created 4 years ago but your just active last month and one of your first post is this?


Now tell us how come that you are a Beginner when you are already here 4 years ago?  and this gives me Hint that this post is intended to earn a merit but you fail .

There will always be a lesson learned if you invest money that is not yours into cryptocurrency, the lesson learned could either be good one that return a profit and you could pay back the loan or you a accrue loss that will eventually make you pay back the money owed by force. If you are new to crypto and you look deep into crypto and some of the past event increased in prices you have missed, you will want to get money by all means to start even if you are not equip at that moment.
You lack to two things(it is a common thing in crypto), you were impatient and you did bite yourself at the hand when you used money that is not yours to buy cryptocurrency. If you have used your own money and was patience, you would probably be at profit by now. Anyways, there is never I'm too late, buy as little as your money can afford and be patience next time.

Everyone has a different experience with crypto. Some people have become millionaires with bitcoins and they have totally changed their life.
However, there are people who have lost everything in crypto. However, we should not blame crypto for their loss. It is their lack of knowledge and greediness which make them lose their cryptocurrencies.
I hope whoever loses money in crypto should learn the lesson and acquire the necessary knowledge for investment and trading.
 

I completely agree with your opinion, I think many of us have gone through that moment, where we have no patience and we get desperate, especially when we were somewhat new to this world, or maybe we are glued to the chart all day, with nothing else matter, and this is not the case, in the investment and in the speculation of the market, normalcy and patience must always be present.

There are people who are just like you say, they sell when the price is falling, but they don't go short or with leverage, and this is a way to win, at least some market speculators do it, the only ones who don't what the investors do, because they have another way of looking at the market, but mostly the market gives to be able to make money at any time, but with the right movement.