I lost $50,000 in Bitcoin crash, but I’m still a believer

[briannguyen]

http://www.bitcoinrumors.com/2013/04/19/i-lost-50000-in-bitcoin-crash-but-im-still-a-believer/

Good experience to read through

[zordsdavini]

good one

[naphto]

(edit)

[salty]

?

He invested $4000 into btc since last year and is still holding. I don't see how has he lost $50k? Looks like an attention grabbing headline to sell his data recovery service.

[TiborB]

These days this is really like stock exchange - value is not backed by gold or anything, price is regulated by supply and demand. The amount of available BTCs increases by a rules set in stone, but other factors, like popularity, economy, Cyprus which all influence the exchange rates. Currently it is somewhat to gambling IMHO.
One basic rule is: if buying, only invest the amount you are comfortable with loosing.

Cheers,
   T

[dennis97519]

?

He invested $4000 into btc since last year and is still holding. I don't see how has he lost $50k? Looks like an attention grabbing headline to sell his data recovery service.

Agree. If you dont sell at all you wont lose anything.

[Hei_]

who cares? i have 1800+ coins = in fiat i lost in chrash 200k? who cares?

[nwfella]

just had a friend that bought over 12K USD @ 240ish...he's bummed...but at least said he doesn't lose a dime til he sells...think he'll be just fine

-nwfella

[victor999]

I can see a lot of Wall Street mentality here.  Big money (to me, anyway) being discussed as casually as having your morning coffee....

[insulting_robot]

> ...

> this is the insulting robot

> i invested 50k in the stupidity of human investors

> the stupidity of human investors increased by 50k

[daggeteo]

These days this is really like stock exchange - value is not backed by gold or anything, price is regulated by supply and demand. The amount of available BTCs increases by a rules set in stone, but other factors, like popularity, economy, Cyprus which all influence the exchange rates. Currently it is somewhat to gambling IMHO.
One basic rule is: if buying, only invest the amount you are comfortable with loosing.

Cheers,
   T

That is a sound rule. Can be applied to anything really!

[dex1]

?

He invested $4000 into btc since last year and is still holding. I don't see how has he lost $50k? Looks like an attention grabbing headline to sell his data recovery service.

+1
Here goes the story: He has put $4000 in BTC , now his investment is worth $20000 and he claims loosing $50000.

Well...Right...

IMHO doing maths is not his forte.

[Gabi]

Did he lose any bitcoin? He invested 4000$ and with today's price he is still profiting, he lost nothing! And anyway price is already increasing, route for over 266 engaged 

[Raver32]

I'd be happy to be your bitcoin accountant - for a small fee of course

[btcsharp]

The only thing he lost was the possibility of cashing out :-)

[Lucsus]

The only thing he lost was the possibility of cashing out²

[BarryB]

I call BS. If he never had the $50,000 in his hands then he didn't lose it. He lost the fiat/on paper value, but that's arbitrary. This article reads more like a shill to pump up BitCoin.

[nextnet]

Super instructive. Thanks for posting.

[mastertheknife]

He didn't really lose $50,000 because he never invested that amount, he invested a much lower amount. He potentially lost $50,000 because he didn't cash out in time..

[yvon]

you don't lose money (50K) from an initial investment of 4K.  It is an attention grabbing headline which is false.