Bitcoin Destroyed my life-bitcoin Investor

[SlipMart]

For one to successfully navigate through the cryptocurrency space successfully he most be very well equipped to an extend about the danger of investing and trading the cryptocurrency market.But most traders out ignorance of how the financial world works will jump in without any sort of preparation or good financial advice from successful players in the industry. Cryptocurrency and other financial investment is a double edge sword and should be treated with causion.

Here we have a man(A redittor with username Myallmymoney) who is currently at his middle sixties who claims that investing in bitcoin jeopardized his life savings and know he has nothing to hold unto.

This Is His Story

Bitcoin destroyed my life.

I went all in at around $1000 with pretty much my whole life savings. I didn’t know much about Bitcoin and just like you i started reading here. Every day i read about how it was guaranteed to go to the moon and all these people getting rich overnight.
I asked many people if i still should get in at 1000 and got the same answer from everyone: 1000 is cheap. We will be at 10k soon.

Continue Reading >>>>>>>https://bitzamp.com/bitcoin-destroyed-life-bitcoin-investor/

[Emoclaw]

I'm going to be as honest and blunt as possible. You need to find better things to write on your website than Reddit stories from 3 years ago if you want it to succeed. That story is irrelevant today.
This is the original comment: https://www.reddit.com/r/Bitcoin/comments/2keueb/my_thanks_to_you_all_bitcoin_has_changed_my_life/clkmqp9/
I hope this guy is in a better condition now. If he held his Bitcoin that would be $700k now.

On a side note, it now seems that we will truly be at 10k soon.

[haroldtee]

Good he blamed himself and not bitcoin at the end of the whole story. It is quite a story and I hope a lot of people who feel bitcoin is a get rich quick scheme will learn a lot from it.  So many people have no single idea how bitcoin even came around, what gave birth to it, the risk of investing etc and then with the mindset that bitcoin is going to make them rich they hop into the train and then panicked when they see the other side of the volatility showing its face.
Going all in means exposing yourself to huge risk, more like greed to me and worst part, without even a full understanding,  you expose yourself to panic risk. Hope someone get to borrow a leaf from this guy's story and I hope the guy is smiling now, if he ended up not panicking the year the story was written.

[harryyuma]

The story is might true but bitcoin for me is good and I experience a lot and it's so convenience in bitcoin since I start this year,you need to study first a lot in bitcoin trading when you do invest because it's so risky or do the sure thing like join in some open campaign here to earn then do trading so even if your invest is not going well your money are from your profit here in bitcoin not your own money and it's not risky

[Pursuer]

Here we have a man(A redittor with username Myallmymoney) who is currently at his middle sixties who claims that investing in bitcoin jeopardized his life savings and know he has nothing to hold unto.

I am sorry say this but investing in bitcoin did not jeopardize his life savings, his naiveté did.

I went all in at around $1000 with pretty much my whole life savings. I didn’t know much about Bitcoin and just like you i started reading here. Every day i read about how it was guaranteed to go to the moon and all these people getting rich overnight.
I asked many people if i still should get in at 1000 and got the same answer from everyone: 1000 is cheap. We will be at 10k soon.

I have highlighted the main issues.
1. going all in.
this is a stupid move. some people do it because they are bold BUT when they do it they are well aware of the risks they are talking. they know they can lose everything and they know they can make a lot. not just think they will make a lot without risk overnight. only an idiot does that.

2. not educating himself.
I mean you want to buy something small like a cell phone you ask around, do some research and see what is best then pay the money. how can you not know much about something that you are investing ALL your money in?!!

3. reading comments and seeking financial advice from random people!
I haven't really read reddit crap much but here I always see everyone warn newcomers to "invest what you can afford to lose" and I never see anyone assure them of price rise. I never do it myself anyways. whenever I say price is rising I say something like there is a good chance or it may also drop.
you shouldn't really seek financial advice from random people anyways!

[SlipMart]

I'm going to be as honest and blunt as possible. You need to find better things to write on your website than Reddit stories from 3 years ago if you want it to succeed. That story is irrelevant today.
This is the original comment: https://www.reddit.com/r/Bitcoin/comments/2keueb/my_thanks_to_you_all_bitcoin_has_changed_my_life/clkmqp9/
I hope this guy is in a better condition now. If he held his Bitcoin that would be $700k now.

On a side note, it now seems that we will truly be at 10k soon.

Thanks

[SlipMart]

Here we have a man(A redittor with username Myallmymoney) who is currently at his middle sixties who claims that investing in bitcoin jeopardized his life savings and know he has nothing to hold unto.

I am sorry say this but investing in bitcoin did not jeopardize his life savings, his naiveté did.

I went all in at around $1000 with pretty much my whole life savings. I didn’t know much about Bitcoin and just like you i started reading here. Every day i read about how it was guaranteed to go to the moon and all these people getting rich overnight.
I asked many people if i still should get in at 1000 and got the same answer from everyone: 1000 is cheap. We will be at 10k soon.

I have highlighted the main issues.
1. going all in.
this is a stupid move. some people do it because they are bold BUT when they do it they are well aware of the risks they are talking. they know they can lose everything and they know they can make a lot. not just think they will make a lot without risk overnight. only an idiot does that.

2. not educating himself.
I mean you want to buy something small like a cell phone you ask around, do some research and see what is best then pay the money. how can you not know much about something that you are investing ALL your money in?!!

3. reading comments and seeking financial advice from random people!
I haven't really read reddit crap much but here I always see everyone warn newcomers to "invest what you can afford to lose" and I never see anyone assure them of price rise. I never do it myself anyways. whenever I say price is rising I say something like there is a good chance or it may also drop.
you shouldn't really seek financial advice from random people anyways!

Awesome Advice

[Angelia46]

Do not know what to say, I was shocked, do not blindly invest what they do not understand, even if the investment, it is impossible to hold for a long time.

[hasmukh_rawal]

That's a huge amount to lose though. It sure is his own fault but he would have been a millionaire if he would have just hold the amount till date.
Instead of asking others for advice he should have did a research of his own. This is what most of the people in the crypto community do. They ask others what to do and invest their money in it. When they lose their money, they blame the coin for it.

[Stelarion]

   It is also important to say that you can't loose on trading before you sell the item ( coin, token, land, apartment, stocks, shares, futures, fog ... ) that you have bought. If you bought it on, for example 1000, just f... wait it to be more than 1000. It is as simple as that.  

[Ucy]

People who aren't good at risk will hardly survive the Cryptocurrency World. I seriously hope he is OK now.

[SlipMart]

People who aren't good at risk will hardly survive the Cryptocurrency World. I seriously hope he is OK now.

He is okay now...just that he wished he was still hodling

[SlipMart]

  It is also important to say that you can't loose on trading before you sell the item ( coin, token, land, apartment, stocks, shares, futures, fog ... ) that you have bought. If you bought it on, for example 1000, just f... wait it to be more than 1000. It is as simple as that.  

It Is not as simple like you think

[sindikat]

People who aren't good at risk will hardly survive the Cryptocurrency World. I seriously hope he is OK now.

I don't know what your understanding of risk. It seems to me that bitcoin provides people the opportunity to not think about the risk. He constantly grows in price. There are certainly a dump but it is a very long time. If you have no patience then you will have problems everywhere. Conversely, I don't know a less risky asset than bitcoin. He can't destroy life.

[audaciousbeing]

I'm going to be as honest and blunt as possible. You need to find better things to write on your website than Reddit stories from 3 years ago if you want it to succeed. That story is irrelevant today.
This is the original comment: https://www.reddit.com/r/Bitcoin/comments/2keueb/my_thanks_to_you_all_bitcoin_has_changed_my_life/clkmqp9/
I hope this guy is in a better condition now. If he held his Bitcoin that would be $700k now.

On a side note, it now seems that we will truly be at 10k soon.

Thank you for shedding light on the story because a lot of people who have commented did not even bother to read in other to ascertain whether the news exist or not. Just like the man that invested his life savings on bitcoin not too long ago, a lot of people who have castigated him for making such decision at a time when things are rough, quote his story and even call him stupid but the same set of people won't make him a role model at this time when that decision has finally paid off.

Everybody is at liberty to make his own decision depending on how he/she deems it fit but unfortunately people who cannot make such or ever take some hard decision in their  entire lives will be the one to judge.

[flashmark]

Not only BTC but this cryptocurrencies destroy my life. In the morning, noon and night i'm living with crypto trades.

[SlipMart]

I'm going to be as honest and blunt as possible. You need to find better things to write on your website than Reddit stories from 3 years ago if you want it to succeed. That story is irrelevant today.
This is the original comment: https://www.reddit.com/r/Bitcoin/comments/2keueb/my_thanks_to_you_all_bitcoin_has_changed_my_life/clkmqp9/
I hope this guy is in a better condition now. If he held his Bitcoin that would be $700k now.

On a side note, it now seems that we will truly be at 10k soon.

Thank you for shedding light on the story because a lot of people who have commented did not even bother to read in other to ascertain whether the news exist or not. Just like the man that invested his life savings on bitcoin not too long ago, a lot of people who have castigated him for making such decision at a time when things are rough, quote his story and even call him stupid but the same set of people won't make him a role model at this time when that decision has finally paid off.

Everybody is at liberty to make his own decision depending on how he/she deems it fit but unfortunately people who cannot make such or ever take some hard decision in their  entire lives will be the one to judge.

Are You Advising That People can invest their life savings to bitcoin???

[Kprawn]

The people who will lose their life savings are the people who panic at the smallest dip in the price. Remember your trigger finger will be more

sensitive, if you go ALL IN. You are more nervous, because you stand to lose EVERYTHING. This is exactly why we tell people not to go ALL IN.

Invest a small amount at first, then make some profits buying LOW and selling HIGH. Then pull your initial investment capital and only play with

the profits. 

[stompix]

I went all in at around $1000 with pretty much my whole life savings. I didn’t know much about Bitcoin and just like you i started reading here. Every day i read about how it was guaranteed to go to the moon and all these people getting rich overnight.
I asked many people if i still should get in at 1000 and got the same answer from everyone: 1000 is cheap. We will be at 10k soon.

So? What is the problem?
He bought 85 BTC with 85k, now those coins are worth 8 times more , he would have made a profit of over half a million if he would have just hold.

The story is so outdated I really don't understand why you are bringing it back to life.
For clicks to your website I assume...lame

For the ones that really want to know what might have happened as it is just a story about a man claiming telling a story with no proof on reddit:
https://www.reddit.com/user/Myallmymoney

[nl247]

I'm going to be as honest and blunt as possible. You need to find better things to write on your website than Reddit stories from 3 years ago if you want it to succeed. That story is irrelevant today.
This is the original comment: https://www.reddit.com/r/Bitcoin/comments/2keueb/my_thanks_to_you_all_bitcoin_has_changed_my_life/clkmqp9/
I hope this guy is in a better condition now. If he held his Bitcoin that would be $700k now.

On a side note, it now seems that we will truly be at 10k soon.

Thank you for shedding light on the story because a lot of people who have commented did not even bother to read in other to ascertain whether the news exist or not. Just like the man that invested his life savings on bitcoin not too long ago, a lot of people who have castigated him for making such decision at a time when things are rough, quote his story and even call him stupid but the same set of people won't make him a role model at this time when that decision has finally paid off.

Everybody is at liberty to make his own decision depending on how he/she deems it fit but unfortunately people who cannot make such or ever take some hard decision in their  entire lives will be the one to judge.

Of course everyone is free to make decisions they deem fit is best for them, but making investment decisions blindly is what is wrong here. Taihuttu, which I believe is the guy you are referring to, who sold all his properties into bitcoin totally understand the risk and such a guy who said he is going to be trading some of the money for upkeep is obviously not a novice and he even said in the video that he is willing to accept whatever comes out of it. That is pretty a bold investment decision, not everyone can take it, but he did not do it out of ignorance.