Bitcoin Destroyed my life-bitcoin Investor

[Victorycoin]

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.

Did he really blame himself or that was self pity? I was expecting to hear him own up, that investing $85k in Bitcoin wasn't the problem, but doing so blindly and greedily was what undid him. If he had taken the time and pain to first equip himself with the right knowledge and skills, knowing his life savings was involved, he would have instead be sitting on piles of money by now. Every business has their secrets and they should never be taken for granted!

[SlipMart]

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.

Did he really blame himself or that was self pity? I was expecting to hear him own up, that investing $85k in Bitcoin wasn't the problem, but doing so blindly and greedily was what undid him. If he had taken the time and pain to first equip himself with the right knowledge and skills, knowing his life savings was involved, he would have instead be sitting on piles of money by now. Every business has their secrets and they should never be taken for granted!

He listened to the advice of experts

[SlipMart]

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

It maybe outdated but we can learn some lessons from it

[manoj kumar k]

never bitcoin will not destroy any investors life because the value of the bitcoin has increased  so if he invest in bitcoin he will become a millionare ,he wont loose in life

[speedware01]

He should have done better research to know exactly what he is getting into. And if he held that till now it would have made him a fortune. I really hope his OK though

[SlipMart]

 8)yeah

[Alfredjohn]

For me bitcoin never destroy any investor because bitcoin has many supplier so that this program many supporter and it up to the counterparty will make an issue to bitcoin.

[kenjohannes26]

I think he made the mistake of investing all his money into bitcoin, and he was an impatient person. If only he had been patient for five years maybe he had become a millionaire now.

[riskarcher]

it was his fault, why did he not first calculate the money spent on his daily needs. that's why the news is made, there's nothing to lose with bitcoin you just have to think before you act

[drm]

Stories like theis always go through my head when I see someone recommending their scam coin to someone else here on the board. 

[btcprospecter]

As more and more hear of bitcoin and the stories of overnight fortune. People will act without thinking. If you read and learn everything you can you shouldn't have problems. Too many think that it will be the best investment ever but we have to remember that those that have made serious gains have probably been in since the start.

[SaShiRaJaVu]

I really thought it was a really old topic thread and it looks like you are copying the contents from other users which are not relevant and posting as your own ,it looks like you just wanted to advertise your site and get some clicks by posting those old dated link,if you are copying something make sure you are making some effort to copy content which are legitimate .

[Koro-Sensei]

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.

So true For those who are new to this forum and says bitcoins a garbage,Scam,fraud etc. They probably dont know how bitcoin came to existence and probably will never ever be cause they are an ignorant bunch they dont know what hardships and imaginativity to produce this  marvelous idea and so many countermeasures. And how bitcoin helps many families at some extent in financial needs.

[ladydark]

That's the main mistake which most of investors do nowadays.They just get excited on seeing the price rise and just invest without knowing the previous price history.But still who have invested in bitcoin today without any research are enjoying very huge benefits.That's another story.

[cutebat]

Well, it's not the fault of Bitcoin itself since it is just a tool that people use. In the end, it all narrows down to the user and how well they manage their money.

[BountyX]

Listen, in my first days as a Bitcoin investor I've also been cheated and pushed to lose my money and I have felt very pissed off and I thought I had lost all my money. I became a bagholder of worthless shitcoins, but I didn't sell them. Now I am a millionaire.

[peter0425]

Well, it's not the fault of Bitcoin itself since it is just a tool that people use. In the end, it all narrows down to the user and how well they manage their money.

Of course it's not bitcoin to blame here but himself. Did he do his research? I doubt that. He didn't understand that the market is based on speculation and there are manipulators from behind. Its sad to here such story, but as always, bitcoin is not a get rich scheme. There are times that bitcoin price will go down, its beyond our control.

Maybe he didn't understand what are the risk are, he just put everything on it. And just hope that it will multiple in short time. I think we have gone through his pains, but we never blame bitcoin, we try to reinvent how are we going to play the market to our advantage. Well, that's the case for me.

[kingcoiner001]

https://bitzamp.com/wp-content/uploads/2017/11/bitcoin-investing.jpg

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/

whoa what a story nice read..

[Janine012]

He invested on something he thinks might helped him over the past by seeing the potential of bitcoin, before and now is completely a different thing. Maybe things on that time turns the other way around that let him changed his thinking bout bitcoin. We all have different lives and different problems to deal. He is going somewhere between stability and financially by his aged, yet that was not the perfect time for Bitcoin as fully accepted by the market. It's growth and fluctuations are better than  the earnings he can get. Taking a risk for him by those times aren't the best thing he can do as he doesn't have all the time of his life to work on the money again. But, the courage and perseverance to do things to achieve his dreams is what i had admire most. I hope he'd saved some of it and enjoys the long over of time for his money to earn.  

[christian07]

I think invest only a little if you don't know already the cycle of btc price and some altcoins also so even your trading lose or not go well still it's just a little btc.I think also if you have a amount of big btc always hold that and don't sell it in low price even value of digital money gone because if you sell that in low you already lose in that so why you just stock it or save it.Moreover always think positive because fear will let you down here in crypto and i experience that too when i'm newbie.