I did a google image search, and I found this article.
Yeah, I think I posted this about being in CNN a few pages back. Or an eternity, same thing.
I am thinking How fucking stupid can you be? but then, I suppose that there are quite a few folks who bought at the top, and then made a bad situation worse by gambling. He would not be doing so bad, right now, if he had kept his focus on Bitcoin rather than getting distracted by shitcoins... Hard to recover, when your principle is only worth about 4% of what you started with?
Either the guy is a liar (possible), a complete idiot (somewhat possible since he isn't drooling in the pic), or... well is a liar. I find it hard to sit down, buy in mid-november, and manage to lose 96% of my initial investment. It's possible he is down 96% from his "paper profits" but that is NOT THE SAME as being down on your original investment. So it went from 100k to 600k and down to 24k? That's a 75% loss, not a 96% one.
More importantly, this article is on CNN, is on the front page (was earlier) and seems to be a bit of CNN trying to drive news about bitcoin. Which is weird, this is NOT bitcoin, and even the guys on Bloomberg on the radio were like "Dude, Bitcoin went down 20%. Who gives a fuck, this is called "Tuesday". But for whatever reason CNN is pushing a wet string.
Maybe we should complain to them and get a more balanced view. Hell, you could say I'm down 66% from my "high" (18k to 6k) but since I bought in at way less than 6k am I really down 66% or up so fucking far I fart rainbows of joy?
Today, I kind of consider my average price per BTC to be in the $650 to $750 range, and the reason that average cost per BTC is not clear is because there is some uncertainty about how much value I should give to BTC, fiat and other token holdings on WEX, especially since they seem to have their own shenanigans going on.. and I am not quite ready to write those coins off.. .. even though their ongoing price shenanigans and their withdrawal freezes are seeming more and more difficult to recover from such negative public image. i am still hesitant to write off those coins.
I have several tranches of coin values based on when I billed for mining repair work. Some are at $80 (way back in the BFL Single hey I can put more chips on this fucker! days), some are at $600, some 2k, some 14k (got a lot less coin at those prices). If I sell since I did LIFO accounting I have to track and pay CG on the profit or (in this case this year) loss. Same with litecoins, some at $4 (which I sold for bitcoins at 1k I think. Ug-ish) some at 50, some at 100, and some at 250 (I'm taking a haircut on those). But there's no fucking way I lost a lot in this thing.
Anyhow, you can have a lot of fuck ups in BTC, and still retain a certain decent amount of value, and I question myself regarding how much sympathy I want to give to folks who are gambling on alt coins, especially shit, scam and attack vector coins like Bcash and Ethereum.
Indeed. As I said, I think BTrash and Ethereum are coins in bad faith: BTC because it was made as a fuck you to bitcoin and Ethereum when they made that first tweak to bail some yabo's ass out. They deserve to go, but CNN and mainstream media should be going on about the perils of shitcoin, not Bitcoins.
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