Do you have empathy for rekt "investors"? - POLL

[Slow death]

Russell says the paper losses on his initial investment have reached 96%.

This is a very dangerous article and it seems to me that it is even created to scare people. if someone reads the whole article then it can conclude that the article object is destroy the bitcoin image.

In November of last year the price of bitcoin had the minimum of $6500 and the maximum of $10,000. he bought between $6500 to $10,000. So he does not have many losses. Why the hell was he talking about it in the press? why he does not show when he sold and bought altcoins? show us proof that he's telling the truth.

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[bitcoinposts]

we can't do anything about investors who buy at peak prices and sell at panic prices we should be consistent in life and control emotions whenever we are entering any financial markets

[justspare]

Every people takes full responsibility about their actions, and where they invest their earned money is their freedom of choice. But this scenario looks like gamble and like many people who has problems with gamble, he just dont know then to quit.

Yes, we have all made some mistakes one way or the other ourselves which means no one is above it. The only difference is just the level of mistake we ended up making, which in his case, it is one horrendous mistake to make. Nevertheless, no hope is lost, as there would still always be seasons to the market and at some point later on, if he is patient enough, he should still be able to get back on his feet. He is not someone I know, so feeling sorry for him should not even be a thing and no one is above mistake, so feeling despair for him does not sound cool as well. So, I am totally indifferent.

Sean Russell has decided to lay his own bed the way it deemed please, even though he ended up laying his bed wrongly, but what he should be doing now is to learn from his past mistakes, take a chill pill and then see how he would be able to make good decisions in the long run. We all make mistakes, it is how we pick up from the mistake that counts, but feel sorry for him or feel despair for him is none of my biz.

[nidacoinlove]

I'm totally indiferrent about those so called "investors".Every individual takes full responsibility about where he invests his own hard-earned money.If you bet all your savings on "one horse" and you lose,only your wife can gudge you.
I can't say that I hate gamblers.Life is about taking risks at the right moment.Gambling is taking enourmous risk when you can't control the situation.

Well there are different kinds of investors around us, some of them are too smart to even know the term loss in their life. Some are totally dump who just throw their money in some unknown shit coins.
On the other hand gamblers who don't only suffer by themselves but their whole circle of friends and family suffer with them. I feel sorry for their families which depends on them.

[pawel7777]

...
In November of last year the price of bitcoin had the minimum of $6500 and the maximum of $10,000. he bought between $6500 to $10,000. So he does not have many losses. Why the hell was he talking about it in the press? why he does not show when he sold and bought altcoins? show us proof that he's telling the truth.

You might be onto something here. 96% is very unlikely. Maybe if he measures his losses from portfolio ATH, not initial investment. Otherwise he'd have to panic-sell/FOMO back in at least once or twice.

Considering that CNN are not famous for high standards and ethics lately, it's very much possible that they paid that poor chump few hundred quids to tell his sob story.

Or lets take a look on this part:

Before he first invested, Russell spent years tracking bitcoin and studying blockchain, the technology underpinning digital currencies. He said the learning process was like solving the plot of a murder mystery.

How many guys do you know/heard of, so fascinated with Bitcoin that would spent years studying and tracking (?) it without owning any, just to buy in during obvious pump?

[zazarb]

we can't do anything about investors who buy at peak prices and sell at panic prices we should be consistent in life and control emotions whenever we are entering any financial markets

But investing in such an amount that you can not afford and have to borrow, then invest all of this.. it is simply gambling, and nothing more.

[figmentofmyass]

I am seeing the exact same trend with most people that I know locally.

They either,

Bought BTC way too late at $20K and sold it at $6K and started gambling with trading alts to "break-even" which lead to even further losses

OR

Bought BTC way too late at $20K and sold at like $6K back in April and shorted at $6K instead and lost even more money and then when they assumed that $10K would break, they bought at $9500 and sold at $6K again and went short and the process repeated until they ran out of BTC.

^^ life of new traders right here. they're completely ruled by emotion and yet foolishly think they can beat the market. this is what it means to "pay tuition."

you have to just let these people get rekt. it's just part of the market---in fact, successful traders are profiting from their follies. many of these noobs will just leave the space entirely, writing off crypto as a scam. a small minority of them will bounce back and actually study markets and trading strategies and will learn to beat the market.

on some level, i've got sympathy, but i also understand this is a crucial aspect of markets. this is fear and greed and playing out. their fear and greed is the reason my orders get filled.

[exstasie]

...
In November of last year the price of bitcoin had the minimum of $6500 and the maximum of $10,000. he bought between $6500 to $10,000. So he does not have many losses. Why the hell was he talking about it in the press? why he does not show when he sold and bought altcoins? show us proof that he's telling the truth.

You might be onto something here. 96% is very unlikely. Maybe if he measures his losses from portfolio ATH, not initial investment. Otherwise he'd have to panic-sell/FOMO back in at least once or twice.

Considering that CNN are not famous for high standards and ethics lately, it's very much possible that they paid that poor chump few hundred quids to tell his sob story.

I won't rule out the conspiracy theory angle, but most newbies buy the top and sell the bottom a few times before calling it quits. It sounds like he probably did just that with his foray into altcoins. I did it myself as a newcomer: sold the bottom on BTC, then started chasing the losses by gambling with alts. I got dumped on several more times before learning my lesson.

If he sold into altcoins near $6,000 and then panic traded through the recent altcoin apocalypse, 96% paper losses doesn't sound impossible to me.

[pawel7777]

I won't rule out the conspiracy theory angle, but most newbies buy the top and sell the bottom a few times before calling it quits. It sounds like he probably did just that with his foray into altcoins. I did it myself as a newcomer: sold the bottom on BTC, then started chasing the losses by gambling with alts. I got dumped on several more times before learning my lesson.

If he sold into altcoins near $6,000 and then panic traded through the recent altcoin apocalypse, 96% paper losses doesn't sound impossible to me.

All true, but that undermines CNN's narrative. Losing in trading, by trying to time the market is completely different type of animal than investment losses (it's even treated differently for tax purpose in the UK, where he's from). If panic trading indeed played a big role in his losses, then not mentioning it by CNN is dishonest, at very least.