I went bankrupt when I joined in cryptocurrency

[bitcoindusts]

I'd say there is nothing else to do at this moment but to charge it to experience. Sad story to read really, but the first sight of him throwing anything he can sell just to get into the crypto market was already a mistake. It was unwise so to say.

Remember that smart investment are those that did came from savings. Selling valuable assets to turn it into another investment is unwise unless we can afford to lose them. Cryptomarket is a tricky playground, what may seem to be an easy ride could be one hell of a roller coaster experience.

So as with many of you, i too would say, never be deceived easily. Invest only what you can and stay away from greed. Earning enough should always be a standard.

[teosanru]

You are the only unfortunate one, mate. Most of the other users have been able to make a fortune out of cryptocurrencies and that is why they have continued to be a part of the community.
If you are one of the unfortunate ones who joined in Dec 2017 when market was at peak, then I cannot do anything but feel bad for you. My condolences.

[Legendari]

I believe this man is to blame for his own grief. Investing all the money in cryptocurrencies is stupid. If he had invested wisely, he would never have found himself in such a situation.

[ReneFigaro]

That really makes people nervous if they enter the crypto market. However, there are still people who are rich in cryptocurrency. It can be purposeful and well invested.

[bstash]

Cryptocurrency market is closer to a casino... fluctuation it shows is much greater than what you'll see in normal stock markets.
I don't think it's ok to invest everything into crypto trading.

[rudox]

There is a foundation mistake made by this gentleman, and that is he has no foundation or rudimentary knowledge of cryptocurrency before investing, other than those he read from news and the ones by his friends. And after registration he was fighting the market when he saw that his capital is going down by investing more as the bearish market becomes more thereby committing more money to cut cost while actually he was doing the opposite. Thirdly he was trading under emotional pressure. These mistakes  are costly ones that will always wreck any newbie.

[Reid]

The person in the story said himself that crypto is a new field, what did he expect? It's obvious that there will be higher risks and you need to study thoroughly, anyway don't get depressed, the situation still might change, hope his family will be ok

Same thing I said in one of the members of the telegram group I joined.
Crypto currency is still young at this age. People still do not see it much. Mostly people who are working using the internet knows this. How about those other workers? They do not even have any idea what crypto or bitcoin is.
So we could really say that we are not even in the middle of it.

He's knowledge is not sufficient that's why he lose all of his investment. In the story he doesn't research or study anything how cryptocurrency works, he relies only in news that people become millionaire in crypto. It is true that some people become millionaire but the question is how they do it? He trades without any knowledge about trading i think it's his fault.

Could be. But that is what crypto is, taking the risk. Cause if he did not really knew that then he should have just stayed with banks with annual interest.

[Juggy777]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

The biter sweet moral is not to be greedy and make use of ones mind, here just on hearing hearing about bitcoins he brought it, and believing it would touch 50k he didn't sell those bitcoins, it was a foolish decision under the given circumstances.

While it's true bitcoins hodl theory is advocated by all, but it's only valid till you're making a good profit then you need to sell and buy again when it dips. Another common mistake was his idea to short sell it, which was not a great idea. I do hope people realise that greed and short sales in bitcoins is a bad idea.

[bummm]

Probably, you made something wrong, or you were in a great hurry to sell all of your Bitcoins and altcoins. You have to learn much more about the market before you entered it and started to trade there.

[kucruut]

if the problem of results and whether or not to join cryptocurency is a personal risk depending on our intelligence in doing business

[Jannn]

Holders are the only people complaining right now, there is still ample opportunity to make a profit by day training. I mean look, XRP has increased by 20% 3 times within the space of two weeks, that's 60% profit alone if you bought and resold, is that not enough for you? Tell me another industry where you can make 60% profit in a week? Sure, if you bought in at $2 you'll be angry, but you shouldn't have held on for so long!

[Younasrajput]

We must learn from this story

[Raja_MBZ]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

1. Invest in bitcoin = *very* low risk (until and unless you really are as stupid as a monkey and hop into the top) (no greed)
2. Invest in altcoins = high risk (greed level no.1)
3. Trading altcoins = *very* high risk (greed level no.2)
4. Trading altcoins/bitcoin with leverage = 99.99% chance of losing everything (ultra-greed level)

It's interesting how he first bought bitcoin, then started to exchange them for altcoins, and finally got greedier and went into altcoin trading. Now the real question is, will he lose *everything* by going for the leveraged trading (ultra-greed level)?

[paul gatt]

I am very sympathetic to you about this. I think you have invested in bitcoin at the wrong time. Bitcoin prices fell sharply this year. All investors lost money. I hope the bitcoin market will recover in the near future.

[wxa7115]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

I wish this story was not true but most likely it is, many join this market thinking that they only need to buy low and sell high so they can make an incredible fortune, but anyone that has been here for long enough knows that is not the case, making money in the markets is an incredibly difficult thing to do that only a few are able to manage, there are very few traders that are profitable and an even smaller minority among of those that are profitable are able to get profits good enough to change their lives.

So it is important to learn from the experience of the person above, do not invest money that you cannot really afford to lose, people do not know how painful the feeling of defeat can be after you lose all your money to the markets, so you must not allow that to happen to you.

[94K]

This might be in your situation though but one thing I really love about my joining of the crypto world is that, I have been made who I am because of it although I joined it not long ago. 

[Vickyrichy]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

What I will say about this is that, cryptocurrency is not for people who are greedy. If you think you can invest all your money into it and make a double or five times of your money then please i'm sorry to tell you that, you are likely to loose all your money. Invest the amount of money you can loose.

[bloodyvio]

the lesson that can be learned from the story is to learn first before investing
we need to know whether it's safe to invest and how it works
don't invest when prices are rising if you invest when prices are rising then you're FOMO

[CASTIEL05]

It just show have dangerous trading altcoins can be, if that person got into bitcoins in the start of 2017, and just hold on to his bitcoins he would have been up with 5 or 6x right now, if he got into bitcoins in August 2017 he would have been up with a 2 or 3 x, I can't really see when he bought bitcoins, but everyone who got into bitcoins more than a year ago are in nice profit zone.
Buying and selling altcoins can be really dangerous, I'm 80 or 90% into bitcoins and just hold a limited number of altcoins.

Dangerous yet profitable once you know the movement of the market. I think trading is a matter of good decision and perfect execution. Many people are entering in trading without understanding how market fluctuates. They just think it is easy to start and gain but they don't know what are the struggles a trader will meet.

[blueteam09]

Many commit suicide because of investing in Crypto, and many become millionaires as they grasp the opportunities created by Crypto. In economic investment there are losses and profits, it can not all be profitable because it can not happen.