This guy says crypto ruined his life but he spent it on a high risk lifestyle

[rdbase]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

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[xWolfx]

I wouldn't cash out more than 10% in his spot and hold the rest, even if now it all looks really ugly.

Of course if i could see the future selling everything then buying right now would be a better idea but can't do that. Could make more trading or could hold and help bitcoin a bit while also being safe if they are safely stored.

It's about investing for a better future not only for myself but for the whole world also. Hopefully  in the future I'll be able to invest a lot more than right now.

[fakegurutu]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

It sounds fake to me, a lot of fake cryto stories popping out nowadays and this one seems to me as an all time fake, if its true, he shouldve linked that two pornos he said, anyways its a porn, its free, that way he can prove to anyone here right now that his story is really occured and not just like a movies where there is a script.

[vit05]

If this is true, and probably is not, he lived very well this short period as a millionaire. Getting hooked on whores is not so bad. It would be worse if he had been completely addicted to some drug or had contracted an illness. He still has a lifetime ahead of him. Now, it's always so simple to prove that you were rich at some point. Just sign with a wallet that has moved large amounts. But this is hardly done ...

[Jating]

What do you expert from someone who is very young and a lot of money to spent?

It's a hard and expensive lesson for him, that's for sure. I'm mean blowing that kind of money in short amount of time?  Ridiculous. Anyways, perhaps what's make it easy for him to spend and wasted all this money its perhaps he didn't work hard and sweat for it. For sure he is hoping that we can have another bull run and get all-time-high, not so fast, dude. Lol.

[joniboini]

I'm not surprised if the story is true (a lie is still a possibility), a lot of people went berserk when they have a lot of money which they 'created' out of nowhere.  Quite ironic how he invested in relatively a mid-term period and then all of it gone quickly. It reminds me of another story, where somebody got $1 million and then gambles it to invest more and buying a lot of expensive things. Maybe the golden message from this story is that we should invest and cash out some (save it) proportionally to ensure we got our profits and we don't miss the next train.

Best of luck to everybody out there who already make more than $1 million from crypto, make sure you use it wisely.

[pooya87]

to be frank it sounds more like someone who is trying to make shit up about his history but it is not a far fetched thing either but in either case it is not about bitcoin or cryptocurrency or anything else. it was not "crypto" that ruined his (imaginary?) life but it was himself and his addictive personality. there are at least a couple of dozen people on this forum from early days who bought bitcoin at 1 cent and lower and became millionaires and they are not "ruined". the difference is in the personalities.

[Kakmakr]

Ruined his life? I think this is a teenage boy or young guy are sharing his best wetdream with people on Reddit. If you ask him for some proof, you will end up getting nothing, because it is all a figment of his imagination.

How many 27 year olds have $1.6MM to invest in Crypto currencies? If they did manage to accumelate this, then they should be very smart, so why would they waste it on hookers? <Oh, Wall Street are full of them... sorry!>

[Broly46]

Wait, I think he need more elaboration to his story, spending on whores, 100 escorts, food and travel, that sound just like any generic story shared all over the fb, who know he may just come out with a piece of fake story

[demenBTC]

it's just nonsense stories that don't benefit themselves and for readers, bragging using the services of 100 palacur is just a crazy person who tells a false story

[unusualfacts30]

to be frank it sounds more like someone who is trying to make shit up about his history but it is not a far fetched thing either but in either case it is not about bitcoin or cryptocurrency or anything else. it was not "crypto" that ruined his (imaginary?) life but it was himself and his addictive personality. there are at least a couple of dozen people on this forum from early days who bought bitcoin at 1 cent and lower and became millionaires and they are not "ruined". the difference is in the personalities.

Yeah, I like there is no proof of anything he did but just a text which can be written by anyone. Bragging about it is probably not a smart move as it would attract all different kind of people so either way I'm not sure if that person is very smart.

[Pursuer]

this is just some kid trying to troll people. he probably lost a lot of money in cryptocurrencies after investing in a bunch of shitcoins and ICOs that went belly up and the pressure of losing that much money in his parent's basement made him delusional and led into thinking that his "hand" was an "escort" or a  "famous pornstar" LOL. he just has a good imagination, that's all. the cure is simple too, he just has to get out of that basement and let some sun shine on his head. the fresh air would also help.

[CryptoBry]

Well, assuming that the story is real and not just made up, all I can say is that it was his money and young as he is then why not enjoyed it while it last? It would have been a very different story (a sad one) if he continue to hodl and not cash-out his money. I would even consider this to be another good story (though having some wild sides) that Bitcoin or cryptocurrency helped. Personally, though, I might also travel but I would be spending that money for some other worthwhile investments and some causes. Unfortunately, it was his money and not mine.

[Lucius]

How many 27 year olds have $1.6MM to invest in Crypto currencies? If they did manage to accumelate this, then they should be very smart...

He did not invest 1.6$ million in cryptocurrency, this is how much is he profit by investing 60k$.

By what he is say, he invest in period from Januar-March 2017 when BTC price was between 900$ and 1300$, so let's say that he bought 1 BTC at average price of 1000$, for 60k$ it is 60BTC in total. Selling all of them (and he did not that) for 20k$ per 1 BTC = 1 200 000$. Maybe he invest in some other coins, but if only BTC is involved in this story, he is 400k$ short / lying.

So, what does a 27 year old guy do, well most of 27 year old guys would not do what he did. For the reason that they have family or want to use that money for a better and safer future. He decide to spend that money to fill some of his dreams, and from what is described he seems to have spent many good moments traveling around the world and fulfilling his wishes.

So now he is become got addicted to hookers, and this is main problem - no more money to pay them. I have advice for him, just invest more money and wait new ATH, then you can repeat all this again - and in the meantime enjoy in your jerk off material

[o_e_l_e_o]

This is a similar situation to all the lottery winners who end up bankrupt. Lottery winners are more likely to go bankrupt than the average citizen, and statistics show that up to one third of US lottery winners end up bankrupt. You take an average citizen, working constantly and with dreams of traveling, buying a big house, fast car, etc, suddenly give them the means to effortlessly achieve all those dreams, and expect them to act completely responsibly, then apparently one third of them won't. I imagine if we could we would see similar statistics for those who "win big" on crypto.

it was not "crypto" that ruined his (imaginary?) life but it was himself and his addictive personality.

This is it exactly. Although one third of people can't handle money and end up ruining themselves, two thirds don't. Two thirds are responsible and don't blow their fortune on hookers. If this story is true (and I have my doubts), he ruined himself by being immature and irresponsible. The crypto was just a means to an end.

[deisik]

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him

Actually, that guy got off pretty cheap

As many people in his position (e.g. after winning a lottery) end up really bad and die under the bridge as homeless drug addicts. Regarding your question, we should understand that we can't really say anything specific or certain unless we have actually been there, in his shoes. Indeed, many of us are thinking about reinvesting so much money and earning as much. This is what we all think, now. But it is not in the least guaranteed that we would be thinking the same if we actually had so much dough in our hands. Money is a dangerous thing on its own, while huge money can be downright fatal

[qiman]

Well he may have enjoyed himself with the debauched lifestyle he was living, but in the end that kind of behavior ages someone prematurely and too much of anything is not a good thing, especially when it has adverse effects on the health. Although he was wise enough to take some money out and he made a lot of money, what he did with it was not very awe inspiring to say the least and if I were a kid looking up to this kind of person, it would surely be the wrong role model for me, that is for certain. What I do not like in crypto is that many people show off their wealth in this very negative way and think they are God but one day it comes to nab them in the tail and they will have to come down from their high horse, am not impressed in the least.

[deisik]

What I do not like in crypto is that many people show off their wealth in this very negative way and think they are God but one day it comes to nab them in the tail and they will have to come down from their high horse, am not impressed in the least

Crypto as such has nothing to do with it

As this showing off has more to do with people's ego, while Bitcoin was only instrumental in disproportionately inflating it (which can be huge if there is a reason to, see the Craig Wright case). But it might have been anything else, like an Olympic medal, winning a lottery, hitting a jackpot in a casino, inheriting a fortune, i.e. anything which can be summarized as jumping from zero to hero



Or from shithouse to penthouse (and back again)

[rdbase]

this is just some kid trying to troll people. he probably lost a lot of money in cryptocurrencies after investing in a bunch of shitcoins and ICOs that went belly up and the pressure of losing that much money in his parent's basement made him delusional and led into thinking that his "hand" was an "escort" or a  "famous pornstar" LOL. he just has a good imagination, that's all. the cure is simple too, he just has to get out of that basement and let some sun shine on his head. the fresh air would also help.

This was my thought when I first read the post too.
And with people on reddit you need to take it all with a grain of salt.
But still it makes for a good story for a hollywood movie if they ever decide to make a movie on the height and hard fall of cryptocurrency 2018.

[logfiles]

If at all this is true, then I guess it was due to overexcitement, having acquired a lot of money in no time. You start to feel that you are a star and start to spend very ridiculously without looking at the long term goals. Hookers will come and suck up your money and once it's done they will move on to the next one.

I have seen a number of related stories, especially with Lottery winners. One wins maybe $10M and gets too excited, takes world trips, lives a life of his dream then after a couple of years get back to where he was or even probably with lots of heavy debts.

[boltz]

Sounds like a fairy tale to me haha. I won't belive this, because first of all why do you even get in bitcoin in the top ? And 2nd why would you even consider to spend your cryptos on expensive stuff when you could easily buy them with fiat. If this is true and I still have my doubts ) whoever told this guy to get into cryptos, has no senses at all when it comes to gain and looses or money in general.

[crzy]

If at all this is true, then I guess it was due to overexcitement, having acquired a lot of money in no time. You start to feel that you are a star and start to spend very ridiculously without looking at the long term goals. Hookers will come and suck up your money and once it's done they will move on to the next one.

I have seen a number of related stories, especially with Lottery winners. One wins maybe $10M and gets too excited, takes world trips, lives a life of his dream then after a couple of years get back to where he was or even probably with lots of heavy debts.

Its normal if you don’t work hard for that money, if its easy money it will also gone easily if you don’t know how to protect it. Hard work will make you realize how important the money is and for sure you will do everything just to make sure that your money will last for good.

[PeRo]

I don't know what was he even thinking, that is just stupid. He shouldn't have cashed out all of it, and before that, why would you even buy at an all time high, everyone knows that you should cash out then. Crypto didn't ruin his life, he ruined it hymself. Bitcoin is mostly an investment, no one uses it for buying expensive stuff, it just isn't profitable.

[BitHodler]

Hard work will make you realize how important the money is and for sure you will do everything just to make sure that your money will last for good.

People need to go wrong before they realize what the real value is of the money they own, especially in cases where people out of nothing became quite wealthy. It goes wrong way more often than it goes right.

Crypto gains are the easiest gains one can make, regardless of the risk people expose themselves to, especially during a bull run. In the current bear market people start to think back about what they had in 2017.

All the stupid things they did with their money backfired hard. I think it's safe to say that most of the members here went through this with crypto. The real gain here is the knowledge that you can have work for you now.

One must be an idiot to make the same mistake again....

[aoluain]

If the story in the OP is real or not I can see that scenario happening.
I have known people just like him who think of today only and not of
tomorrow or next week, kind of YOLO mentality.

If it is real, he learned an expensive lesson.

[maianh09]

We should accept the fact that many investors bought Bitcoin when it reached a very high price before falling to the current $ 3400 price. With the Crypto impersonated market when investing in it, accept the risk that you will lose money when investing in it, but if you know how to take advantage of instability, you can make a lot of money through it.

[xuan87]

A more sense people will try to invest it again, diversify it and try to make more money, cashing out and spending is okay but you need to calculate your spending, blowing money like that is going to ruin your own life, it's not enjoying life but it's a stupid act, but this article got a positive side for Bitcoin, it show that people can get rich with crypto

[jossiel]

True story or not, I don't care on how he spent his money. In the first place, it was his and I don't have the right to rant about his 'dream' activities ever conducted through his crypto profits.

Someone who's not too knowledgeable enough and is lack of financial education would things that he ever dreamed of just like the story. But I'm also fond of looking for a proof that he really has it. And putting the blame to crypto which ruined his life? that's nuts! it was his wrong decisions made.

[DigitalCyberius]

Could be fake, if true, he probably has a tonne of STD's that will catch up with him later, your choices have consequences, immediate and in the hereafter.

Certainly a foolish waste of money if true. Investing in various ways would absolutely have been a better use of money. However, that said, you might be surprised how many people do stupid things with money. I've heard it said that most people who win the lottery go broke after just a few years, and worse. In Bali (where I've been living for the last few years), there are a number of people who come to visit and run out of money, people will work and save up there money, and then spent it all on travel for a few months, and then go back to work - many of them often have money problems.

Don't underestimate the ability of people to make stupid, shallow, and reprehensible decisions with money.

Best thing to do (after taking care of necessities, and hopefully giving), would be to find some smart investments, and diversify a little. Maybe some for a business, buy some precious metals, do a little stock market trading, get into real-estate, buy some ATMs, get some mentor training... lots of options out there.

Have a good day,
The Cyberius team.

[kelz1]

This has to be a fake story, otherwise it would be a full news article rather than just a reddit post. Especially the part about famous porn stars, he would want the fame that goes with the story

[rdbase]

This has to be a fake story, otherwise it would be a full news article rather than just a reddit post. Especially the part about famous porn stars, he would want the fame that goes with the story

It could be as I mentioned in the OP in the first place.
But it might happen just like the guy who said he has made millions betting on the cryptocurrency bubble last year.
He is a famous poker player so he is use to taking on these high risk gambles in his life.

[Upgate]

From the story I don't think cryptocurrency is to blame for the state of his life
He made bad choices and his is paying the costly price for it

[lornadane]

Though I don't believe such stories, because they can't prove it. A couple of months ago, one guy claimed he has lost 2.5K bitcoin, he bought and forgot the phrase key and he bought when the price was a few cents but he did not know the recent value, so many people asked him to give the proof then he disappeared!

If this story real, then I would say he is just a high dramatic guy who doesn't have the right knowledge about investing! He should cash out some to save for the future and then he could invest! Therefore he spent on a high lifestyle, so he had a great opportunity to make money more but if he ruined then that was his fault, not cryptos.

[Denton]

Of course same have all different preferences, but spend money on all the, that wrote this guy was very foolish. Everyone strives for a good life, but it is necessary to work hard in order to get such a life. In its place, I would continue to invest in crypto further.

[Ultimist]

I hope that he has chosen a strategy for further investments in order to increase capital. But if he didn't, it's bad. I certainly can't afford to live like this yet, but I know, I can in the future. We must first make sure that the money came constantly, and not a one-time because of a successful investment.

[avikz]

I literally don't see that crypto has ruined his life. If something has ruined his life, is his lifestyle and the habit of hookers. With 1.66 million usd, I would have retires at the age of 30 and dedicate my entire time to my family. This fellow just spent on useless things.

If I was at the same place, I would have invested it in some government backed schemes where I would earn monthly interest and pursued my passion for cooking exquisite dishes for my family.

[evanescence]

Good on him on cashing out earlier than most, but he spent the money on self-destruction. He was clearly unprepared for his newfound wealth, I guess it's sometimes better to get some rough life experience before getting lucky.

[rdbase]

Good on him on cashing out earlier than most, but he spent the money on self-destruction. He was clearly unprepared for his newfound wealth, I guess it's sometimes better to get some rough life experience before getting lucky.

His life does sound as if it was from a Eminem song.
Either this one https://www.youtube.com/watch?v=uelHwf8o7_U
Or this one https://www.youtube.com/watch?v=_Yhyp-_hX2s

Irresponsible self destructive behavior never helps anyone in their lives if they decide to not try and avoid it.

[den50]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

Well he said it himself, blew all the money on whores and luxury and blames it all on cryptocurrency.... People like these need to be responsible for their own actions and what has him having best jerk off material done for him? Nothing. Therefore he's a failure.

[mapanlah]

bitcoin is only a currency, so where it might destroy someone's life, we are destroyed because of our own, we trade bitcoin emotionally always looking for as much profit as possible regardless of the risk of loss, if we already feel a lot of profit we spend on something which really isn't necessary, so it all depends on our own actions, don't blame bitcoin as a cause of someone's destruction.

[thesmallgod]

it is not actually only crypto that is addictive but even money. You must have noticed when you have money, your mind will be occupied on things you want to buy which of course you are not thinking before when you lack money. Amount of money invested is huge so I am not surprised that he made such a huge profit. I am very sure I will be regretting now if he chose to leave all the investment on crypto up till this moment. However, One major way to reduce lavish spending is to have a plan what you want to use your profit for before you get it. For me would have invested the profit in Real Estate business.

[thesmallgod]

Wait, I think he need more elaboration to his story, spending on whores, 100 escorts, food and travel, that sound just like any generic story shared all over the fb, who know he may just come out with a piece of fake story

Well the story may not be through because I do not think the person is feeling remorse for his mistakes but the most important thing is the lesson that we all may learn from his post. Somehow so many people in one way or the other must have make similar mistake in the past. It might not be the same way as it happen to the Op but to me we should learn not to be easily controled by money. however is controled by money is a slave of money

[BLAST2MARS]

If my life is like living alone and lonely, having no friends and families then I would do the same. That is my theory with that guy. I'm so jealous that he did it because as a guy, that is what you will dream and wish for when you became rich. But the most difficult part for sure is when he realized that his money is not going to last forever and changing his lifestyle to normal is going to kill him inside.

[shesheboy]

I literally don't see that crypto has ruined his life.

crypto cant ruin live's  because its only a currency . us people are still the one that decides for our selve's , that is why we are the one to blame if we did something wrong .

With 1.66 million usd, I would have retires at the age of 30 and dedicate my entire time to my family. This fellow just spent on useless things. If I was at the same place, I would have invested it in some government backed schemes where I would earn monthly interest and pursued my passion for cooking exquisite dishes for my family.

that may seem too easy to say but it is actually hard to apply if you are on his situation  . if we have a lot of money we cant instantly forget our important plans and we only spend the money on unimportant stuff's

Now, it's always so simple to prove that you were rich at some point. Just sign with a wallet that has moved large amounts.

yeah . his post can be more belevable if ever he manage to sign a message from his multi million transaction . too bad he forgot to do it . what if he is a phony

[killat]

This could be just an ordinary invented story, you don't have to believe anything you read on Internet.

However,  I'm pretty sure that btc's early adopters are still very reach people if they were patient enough and kept their coins or sold in late 2017.

[VitKoyn]

Don't know if this is a true story or just another fake stories to gain attention from that forum, but I will not believe any stories if there's no proof that it really happened. Anyway if this is a legit experience from one of those people that became millionaire in cryptocurrency, then why is it that he's saying that cryptocurrency ruined his life? If he is the one that makes decisions on where to spend all of his earnings and not saving it for his future. I mean it is not bad to enjoy what you have earned from investing in cryptocurrency but being addicted to something and having an expensive lifestyle is not crypto's problem, it's your personal issues. So he should only blame himself.

[Caladonian]

I agree to your views. If this story is real, this guy actually earn a good profit from crypto. He is the one who choose to enjoy himself and fall for the addiction, yet he is blaming crypto for it.

Nothing should be blame as he enjoyed much all what he got from crypto, it's human thing that after choosing the path that they wanted to go thru,
and they failed, for sure it will find something for excuses, just a normal behavior though for sure there's real story behind this or it's just an exaggerated
one that he shared.

Lesson from this, enjoy and make sure to take everything into considerations.

[buwaytress]

Further proof that money's usually wasted on fools (forgive the borrowing of the expression I wouldn't ordinarily call anyone a fool). The story's probably got a shred of truth in it, just embellished generously, as most people telling stories do.

Research also shows that people who come into unexpected windfalls tend to blow their fortunes away quickly and often end up financially worse off than before the windfall, so if the storyteller's legit, then he's fared better than most lottery winners.

It is probably true that most Bitcoin early whales were just lucky too, and already rich ($60k to invest? Damn, I couldn't even scrape $6k).

Also, not sure $650k would have been enough for those exploits in 25 countries. Minus the 140k on hookers (100 high class escorts he says but only 1.4k each?), minus the films he paid to make... Mathematically, his story doesn't make sense.

[NoSkyLimit]

I think he had a great time, lets admit it! ) He enjoyed life but maybe a little too more and don't blame yourself as you are only 27 so I think it was a hard lesson for you and I'm sure you know that hookers and 5 stars hotel ain't gonna bring you inner peace....anyway my opinion is the same....was a good time for him.

[Skyshark]

Whether his story was true or not, who are we to judge him? First of all, it's his life. Second, it's his money. He earned it fair and square. As i see it, he literally gambled when he invested such a huge amount not knowing of the possible outcome. We are all aware that crypto investing is full of risk. But luckily for him, his undertakings paid off big time for that matter. He's on the prime of his life [probably unattached] with lots of money to spend. What else is there to do but to enjoy it. I guess, he's one of the lucky few.

[therhslv]

Damn that guy is crazy . I would never spend on anything like that . I would probably Invest further and make some business ( or atleast try ) with 1M USD . Thats quite impressive sum for me and i could live with 1M for years . Maybe when i would have that 1M i would think different , but hopefully someday it will happen who knows =D

[benres]

I guess he is not the only one who had this kind of experience when the all time high was reached last 2017 of december and the early months of 2018. Many will surely have learned a big lesson when the hype happened anyway many smart investors and enthusiast have also profited on the said event and soon we are looking forward to a more profitable event when the bear market cycle ends and the steady reversal will start until cryptocurrency market will reach an all time high in the near future.

[H1N1]

~~

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

I think everyone will have different response when gaining many profits from something they can't predict.
And the guy choose to spend his money instead investing it on another kind of investments.
Sometimes we must stop our greed, and try to more enjoying our life with what we have.

[Winkletoss]

I dont believe the story is true, but there is many stories like this, some people take their earnings seriously
Some not seriously.

It has nothing to do with the currency but rather than personality and the trait that is called greed.

[bajingluncat]

If the story is true, what he does is not entirely wrong, maybe then he gets inner satisfaction, where each person must have different desires and dreams, usually if the money is easily obtained it will also be easy to spend even for shopping something that is not important, but if it happens to me, although maybe I will also do traveling but I consider it like a bonus with reasonable funding details, and that I will do if I have used the money I have to get investment assets that estate like home, land, gold and old age savings, but certainly there is a percentage for me to save in the form of btc to continue investment in crypto again and not stop there, the point is as much as any property that we have wisely use because the property is endless , pleasure is necessary but there must still be control, whatever the circumstances of the logic we must keep on use, so there will be no regrets later

[talkbitcoin]

this story and the likes of it will only work outside of crypto community. otherwise for all of us who have been around for at least a month and bothered enough to check out how the market works, we already know how things are in this market. and it is clear as day to us that this guy is a gambler and has lost money to gambling not because of cryptocurrencies. he might have as well ruined his life in Las Vegas!

[deisik]

If the story is true, what he does is not entirely wrong, maybe then he gets inner satisfaction, where each person must have different desires and dreams

Typically, it works the other way around

After the easy money is gone, people come to understanding that they have been not just wasting that money ("easy come, easy go"), which is not actually the worst thing when you think over it, but rather wasting their entire lives (well, some part thereof). If it didn't last for long (say, only a couple of years), it may be not a big deal after all, but if it lasted the best years of your life, this is pretty much it. But then it's too late to cry

[denzkilim]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

The post on Reddit is already deleted by the person who posted it or maybe Reddit deleted it for some reasons I don't know. I don't think that the story is legitimate and it looks like a made up story by some person that wanted to troll people on Reddit and basing from your post that you quoted from the Reddit post that you have read it really looks like a made up story. In the other hand if that story is real (but I do feel it is not real) that guy is f*cked up already and wasted most of his fortune on things or stuff that he does not need like traveling all over the world and hooking up with porn stars that will cost him a lot of money.

[iMark]

this story and the likes of it will only work outside of crypto community. otherwise for all of us who have been around for at least a month and bothered enough to check out how the market works, we already know how things are in this market. and it is clear as day to us that this guy is a gambler and has lost money to gambling not because of cryptocurrencies. he might have as well ruined his life in Las Vegas!

I think he doesn't really understand the risks that exist in the market, how price changes can go up and down very extreme,
I think outsiders really only buy without knowing about the risks and how the market works

[jpnl0006]

Quiet an interesting story well he was living the exact same way every other young guy with cash will live so else does he expect he had a very nice time of his life kudos to him he should have been wise enough to think of investing more than just blowing up that cash

[kucritt]

we all know here that to get the big return we need a big risk, and i think joining on the bitcoin is the big risk, but we can get a big return if we can manage and join in the right time. so since cryptocurrency makes his life ruined but he think that its worth it to try it again

[Oceat]

~snip~

It sounds fake to me, a lot of fake cryto stories popping out nowadays and this one seems to me as an all time fake, if its true, he shouldve linked that two pornos he said, anyways its a porn, its free, that way he can prove to anyone here right now that his story is really occured and not just like a movies where there is a script.

I don't care if he is lying or not, i think he's just enjoying his life with leisure though he got his own money then let him be if it is true.
But if it is not true then he must be promoting something or trying to catch someone's attention, either way, he's just making a scene.

And why would he put the link of his porno with himself? lol
Unless if he's a pornstar he should put it to promote that but as a normal person living his life, i don't think it's right.

[KennyR]

If the story is true, what he does is not entirely wrong, maybe then he gets inner satisfaction, where each person must have different desires and dreams

Typically, it works the other way around

After the easy money is gone, people come to understanding that they have been not just wasting that money ("easy come, easy go"), which is not actually the worst thing when you think over it, but rather wasting their entire lives (well, some part thereof). If it didn't last for long (say, only a couple of years), it may be not a big deal after all, but if it lasted the best years of your life, this is pretty much it. But then it's too late to cry

It isn't the mistake of the crypto, the attitude of the person has made himself ruin his entire living though he got the opportunity to have a better living.

User needs to learn and about the gambling and the changes it can make in one's life. He is too crazy to loose all his earnings out of the market in the top. Even now he hasn't realized all about the mistake.

[drwhobox]

That poor guy is kind of like me, all though i never spend it on any hookers only spend on traveling and buying fancy things and  on high class restaurant instead of investing.
I learned my lessons and now I will never play with my money.

[rdbase]

That poor guy is kind of like me, all though i never spend it on any hookers only spend on traveling and buying fancy things and  on high class restaurant instead of investing.
I learned my lessons and now I will never play with my money.

Nobody intends to play with their money but the vices which control their decisions do.
Just like greed, envy and excess are prime examples of what drive people to do what this fellow did in his life.

[Becky666]

That poor guy is kind of like me, all though i never spend it on any hookers only spend on traveling and buying fancy things and  on high class restaurant instead of investing.
I learned my lessons and now I will never play with my money.

Nobody intends to play with their money but the vices which control their decisions do.
Just like greed, envy and excess are prime examples of what drive people to do what this fellow did in his life.

Carelessness on the part of the victim. Nobody in their right senses will involved in the whole shit lavish life he choose for himself. Rather for him to invest with the money, he intend squandering the money for invisible cartons and lugubriousness life, what a life?. Fellow comrades, never choose his ways of living but it ends in the wrong direction were such individual remain poor for ever.

[Ucy]

I don't believe this very much... sounds like a made up story.
 He is probably trying to make cryptocurrency look bad with imagined stuff and propaganda.
A non-crypto user reading this would get pissed at crypto users, thinking we are all living the same extravagant lifestyle

[pushups44]

It sounds like a fake story with maybe a kernel of truth. Lots of people made a killing during the last bull market and probably blew lots of money on travel and hookers. But of course, people love to embellish their life achievements. What we can learn from this probably embellished story is to be conservative and prudent after having made massive gains in wealth.

[teejayrichard2]

well he had the money and wanted to enjoy his life and he did exactly that. I will do the same if i get the amount he got, travel the world, eat in the world's famous restaurants, visit most beautiful places, have sex too with some top porn stars with great body and also movie stars in my country. Life is short, if you make the money enjoy it. Those who saved money all their life end up dieing without getting to enjoy what they worked for. So if i have what he had, I will do the same. By the way, hope this story is a true one.

[Teawhalee]

He had a good life in a short while I would say. That’s why most times deep orientation is really needed when doing some investments. It’s not just about the money or profit made , you need many lessons to keep making more money so you won’t lose what you have made cheaply. And probably he was thinking he could have fun and come back to invest maybe another 60-100k$ like he did earlier and cashout big again. But by then the massive price fall was already happening so maybe he couldn’t invest again. It’s a good story to learn from. Many people are also in his shoe.

[Bijikopi]

If this is true, and probably is not, he lived very well this short period as a millionaire. Getting hooked on whores is not so bad. It would be worse if he had been completely addicted to some drug or had contracted an illness. He still has a lifetime ahead of him. Now, it's always so simple to prove that you were rich at some point. Just sign with a wallet that has moved large amounts. But this is hardly done ...

crypto is only a currency. can a currency destroy someone's life ?? the answer is obviously not ... it is what destroys someone's life because he uses money in a way that is not good and tends to be consumptive. not thinking of tomorrow he uses money only for spree that is devastating because of being complacent with high income so he uses money very wastefully.

[izanagi narukami]

The more money someone get, the more powerful the temptation are.
For me, it's depend on each individual but when someone able to made massive profit from crypto, they already overcome the risk and become success.
And every people have their own right to decide for where they need to spend their profit.

Enjoy life!

[libert19]

I find it fine to be honest, he spent it on the experience which will last until his lifetime. Don't understand how he 'ruined' his life as written in title.

[naufals4]

I agree with you, that person has benefited a lot from cryptocurrency but he still breaks it and say cryptocurrency ruined his life. if the man is smarter enough, maybe it's better to invest the money in the long term

[Mikwik]

I think the story makes sense and so for me I think this might be true. Why? Because there have a high possibility that this man have that kind of profit when the time that the Bitcoin went to the moon. But what even he have done in his money, its his money and we can't do anything about it. All of his doings in the story is possible because when someone got into a pool of money, he or she might went bersek and cannot control thw use of their money resulting from losing it all in the future.

[kingpin4321]

If you are the type that prefers high risk then you should be prepared for this two possible outcome.
*high reward
*high losses
Regardless of what and where you are investing

[Daniel91]

I think that we all should be responsible.
So, if we investing our money or participate in some high risk business we should be responsible for our actions.
If we loose, we can't blame others.
Money can't run your life, only your life choices.

[CoinChili]

This guy acted as a one day millionare. I don't know if I'm gonna believe his stories. Spending all the expensive stuffs, travelling around the world and got wasted. He sure was a noob. Instead of investing with another btc, he spent his money with useless things. He experienced short term happiness with material things. I will not envy this kind of person.

[orions.belt19]

This guy acted as a one day millionare. I don't know if I'm gonna believe his stories. Spending all the expensive stuffs, travelling around the world and got wasted. He sure was a noob. Instead of investing with another btc, he spent his money with useless things. He experienced short term happiness with material things. I will not envy this kind of person.

Sounds like a made up story, yes, but did you know that most lottery winners are one day millionares? Many are overwhelmed to handle such a huge amount of money, so they end up mishandling it. For those who are deprived of their wants in life and then suddenly given the access to it one day, they’d choose to fully utilize it the moment they have it in their hands. All senses and need for future investment goes out if the window. As they say, rather than needs being on the top of maslow’s pyramid, it is pleasure which a human would put first.

[ethereumhunter]

That will be too amazing to believe and I don't think he tells the truth. If I were him and have that money, I will use it to search for another investment type so I can get more money and I will try to search a way to get a passive income. If I can get that way, that will be a true life for me because I don't have to think about money. The money will come to me every day and I can use that money for many things.

[xvids]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

I think I would only cash out what I needed at that time and invest the remaining money into other crypto,
I would definitely buy a house and a car for sure and I would open up a business to have some back up even if I leave the crypto behind.

[kurian]

First of all I would cash out my initial investment. Then cash out half of the profit to divide and invest that fund in different investments. Mostly non- crypto investment platforms. Such as bonds, stocks or properties. From the other half of the profit, I would spend 15% for my personal uses and the rest would be re invested in different altcoins and tokens. Squandering all the funds without financial planning was a stupid move by that guy anyway.

[veleten]

well at least he has the best jerk off material for the rest of his life 
to say crypto ruined his life is like saying "oh money ruined my life"
which is total bullshit , because it is YOU who ruin your life and to blame crypto for your own life choices is ridiculous
you can see that this guy despite being 27 year old is not ... mature enough to handle some sudden wealth
money come and go but he managed to not only waste his chances at a decent life (buying a house, investing and reinvesting ,etc. )
but also to regret his decisions and say that his life is ruined now , I wonder how if he paid his debts and such
anyways, now his thread is deleted and we won't know

[rdbase]

First of all I would cash out my initial investment. Then cash out half of the profit to divide and invest that fund in different investments. Mostly non- crypto investment platforms. Such as bonds, stocks or properties. From the other half of the profit, I would spend 15% for my personal uses and the rest would be re invested in different altcoins and tokens. Squandering all the funds without financial planning was a stupid move by that guy anyway.

This is what I would have done but I believe the seven immortal sins got the better of him and his judgement before getting to this point in his life.

-snip-, now his thread is deleted and we won't know

Didnt know he deleted his reddit thread.

[1BTC EQUALS 1CAR]

You know what, I would do the same. Except that part where OP did not care to save some for the next years and did not think about the future. It's not bad to treat yourself when you made a lot of money but do not also forget to help others and give back to the needy so you will be blessed again.

[veleten]

First of all I would cash out my initial investment. Then cash out half of the profit to divide and invest that fund in different investments. Mostly non- crypto investment platforms. Such as bonds, stocks or properties. From the other half of the profit, I would spend 15% for my personal uses and the rest would be re invested in different altcoins and tokens. Squandering all the funds without financial planning was a stupid move by that guy anyway.

This is what I would have done but I believe the seven immortal sins got the better of him and his judgement before getting to this point in his life.

-snip-, now his thread is deleted and we won't know

Didnt know he deleted his reddit thread.

its either him or mods
probably the story is a lie anyways , sounds like some porn fantasies of a 15 year old
a 27 year old would never be that dumb to blow 1.5 millions on hookers and travels , probably
in any case blaming cryptocurrencies for this is like blaming knives for killing people
it was his choice and if he won a lottery would have been the same result

[ASHLIUSZ]

This is common mentality of people, they do mistakes and indicate the one next to them as the reason for the loss. Same has happend with the user here, out of excitement on seeing a huge fund in the wallet has spend all the funds unwanted and now indicating bitcoin as the one ruining his life is truly senseless.

[MFahad]

He said he bought $60k worth of crypto at the all time high and spent it on expensive items and some questionable things if you read it on his reddit post below.
https://www.reddit.com/comments/amctmr

I dont know if I believe him but I can see it happening when the hype was there back in december 2017.
Crypto can be addictive and can buy things more easier then if it were real money because of its high volatility.

Excerpt from the post
"I got into cryptocurrency Jan 2017 with about $60k (invest over the period of Jan-March). By December I had over $1.6MM, while having pulled out 400k in '17 and another 300k in '18. Basically, after paying/setting aside for taxes and the crash, I had about 480k and 150k left in crypto, as well as having recouped my initial investment.

So, what does a 27 year old guy do, you might ask? I spent March '18 to August '18 traveling the world and blowing cash like a mad man. I didn't buy many material things (besides some clothes, random shit around the house that I needed, etc.), I spent it all on experiences. Traveled to over 25 countries, stayed in nice hotels, ate at the worlds finest restaurants (literally)... and... got addicted to hookers.

So I've had sex with maybe over 100 escorts. High class ones, famous porn stars, and one street walker who caught me off guard at a bar while I was hammered. I've made over 15 pornos (two with VERY famous porn stars), maybe spending a total of 140k on hookers in '18. It was AMAZING, and I basically have the best jerk off material I could ever get my hands on for life." etc

I am wondering if you would be so careless if you spent $60k and ended up with $1.66 million after cashing out?
I would think most level headed people would use it and invest it instead so it makes you more and doesnt run out like it did for him.
This would be more or less the most common sense thing to do for most people.
Wouldnt you agree?

In his story, his life ruined not for crypto, his life ruined by his own mistakes. If you read it then simply you feel it he is not suitable man who rewarded but crypto make his future and he wasted his money in useless lifestyle and in the end his hands are empty and now he is crying that it is crypto fault .

[Juggy777]

This is common mentality of people, they do mistakes and indicate the one next to them as the reason for the loss. Same has happend with the user here, out of excitement on seeing a huge fund in the wallet has spend all the funds unwanted and now indicating bitcoin as the one ruining his life is truly senseless.

I think many people here didn’t realise but this was a made up story, first of all it’s on the platform called Reddit where many people write stuff to gain more upvotes to rank up. This was a typical post which was sure to receive many upvotes due to sympathy, if you read it closely you’ll see it’s completely made up. However to answer the question crypto doesn’t ruin anyone’s life, one’s life is ruined by the decisions taken by the person himself.

[A L I E N]

You know what, I would do the same. Except that part where OP did not care to save some for the next years and did not think about the future. It's not bad to treat yourself when you made a lot of money but do not also forget to help others and give back to the needy so you will be blessed again.

As I do remember, there is a saying that states: those guys, who do not risk, never drink champagne. It is worse to have a passive life without risk. Finally, you will become a boring loser.

[Ailmand]

This is common mentality of people, they do mistakes and indicate the one next to them as the reason for the loss. Same has happend with the user here, out of excitement on seeing a huge fund in the wallet has spend all the funds unwanted and now indicating bitcoin as the one ruining his life is truly senseless.

I think many people here didn’t realise but this was a made up story, first of all it’s on the platform called Reddit where many people write stuff to gain more upvotes to rank up. This was a typical post which was sure to receive many upvotes due to sympathy, if you read it closely you’ll see it’s completely made up. However to answer the question crypto doesn’t ruin anyone’s life, one’s life is ruined by the decisions taken by the person himself.

It is true we shouldn't blame anyone or anything because it was our choice at the first place,We are the one who control our life we made decisions for ourself so you couldn't blame anyone or anythig for the outcome.
And about the story at least he enjoyed his money and totally agree that it is just a made up story.
Anyone who manage to gain a huge profit from crypto would invest some of their profit back to gain more.

[Eildosa]

Of course, it was more reasonable to invest this money in something useful. It is possible to open a business, so that the money continued to increase. But on the other hand, it can also be understood. He fulfilled his dream and is now satisfied with it.

[shoreno]

You know what, I would do the same. Except that part where OP did not care to save some for the next years and did not think about the future. It's not bad to treat yourself when you made a lot of money but do not also forget to help others and give back to the needy so you will be blessed again.

As I do remember, there is a saying that states: those guys, who do not risk, never drink champagne. It is worse to have a passive life without risk. Finally, you will become a boring loser.

Im a risk taker but i dont ever try to drink champagne because im not a regular drinker but anyway  you will not become a boring looser just because you are living your life in a passive way  .   nothing wrong living passively as long as you are doing good for your self and to the people around you  .

[Mrsparks]

Whoever made this error seriously need a life coach.. Life is too fragile to be ridden like a mad cow. If he had diversify his portfolios and made some investment elsewhere asides from crypto he could still be leaving the life he wished for even in this dip phase of the crypto market

[alfiec]

most people held all their crypto in 2018 and went down to near nothing.At least he enjoyed himself.

[MakeMoneyBtc]

This is definitely not the best way he could have spent that money but at least let's just be happy for him that he actually spent in on having fun and living his life at the fullest. There are people with crazier stories who's spent millions of dollars on gambling or investing and lost all of it so this guy is somewhat better than them.