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Author Topic: This guy says crypto ruined his life but he spent it on a high risk lifestyle  (Read 678 times)
thesmallgod
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February 12, 2019, 06:18:55 AM
 #41

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.

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thesmallgod
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February 12, 2019, 06:26:45 AM
 #42

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

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February 12, 2019, 06:39:53 AM
 #43

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.
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February 12, 2019, 06:51:49 AM
 #44

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
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February 12, 2019, 07:12:56 AM
 #45

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.

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February 12, 2019, 08:26:30 AM
 #46

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.
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February 12, 2019, 09:13:56 AM
 #47

Base in the story i think the knowledge that we learn by this is control yourself like if you don't then your life will be go in danger and of course crypto not ruin any life even we read negative about the story like i'm sure that's a lie because i know what this can brings to every users of it if you know how this will works like how to earn in investment here and how easy to play in gambling here in crypto then the many different transaction here with low fees

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February 12, 2019, 09:22:27 AM
 #48

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.
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February 12, 2019, 09:43:20 AM
 #49

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.

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February 12, 2019, 09:50:53 AM
 #50

I think he had a great time, lets admit it! Smiley) 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.

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Skyshark
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February 12, 2019, 10:49:12 AM
 #51

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
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February 12, 2019, 10:58:28 AM
 #52

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
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February 12, 2019, 11:09:50 AM
 #53

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.
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February 13, 2019, 02:53:58 AM
 #54

~~

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.

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February 13, 2019, 03:26:51 AM
 #55

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
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February 13, 2019, 06:25:50 AM
 #56

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
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February 13, 2019, 09:21:48 AM
 #57

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!

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February 13, 2019, 10:30:14 AM
 #58

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

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February 13, 2019, 10:47:53 AM
 #59

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.
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February 13, 2019, 10:55:00 AM
 #60

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
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