Man lost everything to Crypto

[saxydev]

Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio. In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life. In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.

Data : Man Lost Everything to Crypto

This is what stake and gandom are doing, promoting those players playing on thousands of usd/game. No responsability in the crypto gambling industry

[Ozero]

Most lost comes from wrong investment tho and lot of taxes that's why I see IRS as a better avenue because it pays investors in USDT when they hold$IRS instead of knocking on your door collecting tax . IRS is funding a world wide space program so we can all go to the moon

In our world there is a law of conservation of energy. It is universal and therefore it can be applied to all processes and phenomena of our life. In the world of cryptocurrencies, everyone cannot make a profit, because in order to make a profit, someone must lose their money. Cryptocurrency does not create wealth. It redistributes their equivalent - money. Therefore, in the world of cryptocurrencies, there will always be those who make a profit as well as those who incur losses.

[asimi.io]

Yes, No doubt Its happening from the first day, Its an absolute perfect example for newbies that all you first understand what the crypto currency is and how its works.  No need to invest anything before searching about the crypto. Patience and good searching needed before investing in any currency you are gonna invest.

[BlackBaron]

He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.

that's the step he should take, rehab will be aware of him, crypto trading risks, I always imagined there is no way to do crypto trading without definite knowledge, i tried with a small capital the same fate i experienced as Steven, realized all that was the best thing for me who lacked trading knowledge, making long term investments the best thing.

[Asiska02]

He mentions bitcoin as one of the things that wrecked him, but perhaps the drugs and alcohol to which he was addicted killed his life. As these two have negative effects on the human body, his addiction to them could cause him to forget his addresses. He should not be citing bitcoin as one of them, even if I'm sure he's been rehabilitated due to the damage that drugs and alcohol did to his bodily system.

[Franctoshi]

Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio.
He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.
Data : Man Lost Everything to Crypto

They said experience is the best teacher and this should be a very big lesson to him.

Got addicted and lost everything.

• If it's addicted to trading, I would say greediness played a major role by him not investing the amount he can afford to loose.

Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

• Carlessness was part of him too , having up to 5 -10 Bitcoin in your wallet without considering the risk factors involved in storing cryptos into account and have two or places he secured his keys.

In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life.

• Having himself got involved with Drugs and Alcohol was still part of his problem, persistent of exposure Alcohol or drugs over a long period time will thus bioaccumulates and may have negative impact to his brain leading him to easily forget things or misbehave.

[Sebas.tian]

Learning how to trade properly is not easy, and we must be able to communicate with ourselves. therefore there is no term to finish studying. of course there is something wrong with him to spend his money, because many people also make trading as a support for their lives, why can't we look in the mirror from them, I think he has a bad mentality so he slumps

I agree with you, because is not advisable for someone to invest all his money on crypto investment which many people has lost a huge amount of money in their investment. Now that we are in bearish market, it will be favourable for anyone to hold and watch for the price of coins to increase higher before they can sell to make a good profits from the market. I think, many investors will learn from his mistakes because crypto investment is different from other investment because it's unpredictable,it can pump through this month and dump through out one year which many potential investors are used to in the community.

[Mr.sprin]

Don't blame crypto when you lose while trading, when you start to enter the crypto world then you are ready to receive profit or loss but when you lose you blame crypto it is very unfair in my opinion, just like you trade when you go bankrupt then you will blame your merchandise that's a very stupid thing,

[shogun47]

Learning how to trade properly is not easy, and we must be able to communicate with ourselves. therefore there is no term to finish studying. of course there is something wrong with him to spend his money, because many people also make trading as a support for their lives, why can't we look in the mirror from them, I think he has a bad mentality so he slumps

I agree with you, because is not advisable for someone to invest all his money on crypto investment which many people has lost a huge amount of money in their investment. Now that we are in bearish market, it will be favourable for anyone to hold and watch for the price of coins to increase higher before they can sell to make a good profits from the market. I think, many investors will learn from his mistakes because crypto investment is different from other investment because it's unpredictable,it can pump through this month and dump through out one year which many potential investors are used to in the community.

One issue is that usually you only get to hear about the success stories where someone sold his house and went all in on Bitcoin and became a multi-millionaire. Those who lose everything don't usually speak that out loudly. People can easily get caught in this dream bubble of doing the same and get rich quickly and easily. If a bear market is waiting around the corner right in that moment when someone decides to go all in, and even worse maybe with a leveraged position, it is game over. All in has never been a really good choice regardless of the investment choice. There is no such thing as a 100% safe bet.                                           

[n0ne]

Don't blame crypto when you lose while trading, when you start to enter the crypto world then you are ready to receive profit or loss but when you lose you blame crypto it is very unfair in my opinion, just like you trade when you go bankrupt then you will blame your merchandise that's a very stupid thing,

This is true, most of the time people loss out of their activities and. Point cryptocurrency as the reason for their loss. This needs to change. A proper learning about the market will let users to overcome such kind of confusions.

[Smartvirus]

Don't blame crypto when you lose while trading, when you start to enter the crypto world then you are ready to receive profit or loss but when you lose you blame crypto it is very unfair in my opinion, just like you trade when you go bankrupt then you will blame your merchandise that's a very stupid thing,

This is true, most of the time people loss out of their activities and. Point cryptocurrency as the reason for their loss. This needs to change. A proper learning about the market will let users to overcome such kind of confusions.

Unfortunately, this is always the narrative for these unlucky investors who wants to gain everything and then loose nothing in the process. I feel sorry for them because clearly, they aren't ready for the world of business or to be making investments. They are far better as salary earners, working with some institution and taking no risk at all.

I see a lot of human nature being displayed in Mr.Steve and the few others that often comes up with these narratives. They try to play the blame game, where they couldn't have been at fault, they did put in all the right moves and analysis but the market just keeps reaping them. His problems are his addictions and the think that's where he should keep that in check and maybe he could have a chance to lean from his mistakes. Otherwise, he isn't ready!

[2stout]

Seems unfair to blame this on crypto alone as there were underlying factors that played a bigger role and are actually the root IMHO.  Take away the gambling, booze, and drugs and I bet this guy is still the game, but then again seems like the root could be an addictive personality/nature.

[AmoreJaz]

Seems unfair to blame this on crypto alone as there were underlying factors that played a bigger role and are actually the root IMHO.  Take away the gambling, booze, and drugs and I bet this guy is still the game, but then again seems like the root could be an addictive personality/nature.

yes, reading the article, the title itself is misleading in my opinion. he lost everything because of other addiction like drugs and alcohol. if he had no other vices, i believe also that he is still in this game. however, some writers will write an article giving emphasis on crypto, which for me is not fair. people should be objective in reading similar articles and learn the true reasons why that person is in that state.

[ChrisPop]

Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio. In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life. In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.

Data : Man Lost Everything to Crypto

People don't realize it. Trading can be EXTREMELY (and I mean it) rough on your mental health if you don't have equilibrium in your life. But that's also the beauty of trading - it goes hand in hand with your development as a person (emotional, social, financial, intellectual). See the contrast below:

Each day you wake up, firing up your monitors, get caffeinated, not moving. not doing any form of exercise. You nervously start analysing the markets thinking you have to make money today to pay your bills. You start 'hoping' the market will do what you want it to. It is evening and you lost 4 times what you hoped to make today.  You go to the bar and indulge yourself in alcohol. You get up next day with a hangover and you restart the cycle. You don't have a journal, you don't learn from mistakes. Zero progress, only regress.
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You wake up, you meditate, you go for a walk, you journal, you hit the gym, you make the trading plan for the day, you execute the plan. At the end of the day - you journal your trades and your process including feelings, thoughts and what you could have done better.

[coinerer]

Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio. In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life. In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

The activities of this guy are like gambler. Gamblers often drink alcohol and take drug in his body. Because at some point big loss destroys their humanity. Which forces them to take drugs. This makes them forget about that loss for a while. Which has happened to this guy and has caused a great loss of his life for his Addiction.

[ChrisPop]

The activities of this guy are like gambler. Gamblers often drink alcohol and take drug in his body. Because at some point big loss destroys their humanity. Which forces them to take drugs. This makes them forget about that loss for a while. Which has happened to this guy and has caused a great loss of his life for his Addiction.

Nobody is forcing anyone to do anything. I believe that everyone has the power of choice. You always have at least two options, no matter how much you lost in life. Think about disabled people.. they could just as well indulge into alcohol and/or drugs to cope with their suffering, but yet many of them are grateful for still being alive and try to make the best of it.

This is exactly why not only gamblers, but a lot of traders should seek psychological advice. The emotional and psychological part of trading is underemphasized.

[Pesona1]

Don't blame crypto when you lose while trading, when you start to enter the crypto world then you are ready to receive profit or loss but when you lose you blame crypto it is very unfair in my opinion, just like you trade when you go bankrupt then you will blame your merchandise that's a very stupid thing,

People like that are people who are unable to control their emotions and instead express their frustration when they lose in trading, in my opinion it is very important for us to understand and also do as detailed a market analysis as possible before we trade and obviously that was not done by that person so he lost and blamed crypto, indeed we admit that crypto has a very big risk if we are rash in trading or investing, but in fact some of them get profits and wealth from crypto because they analyze the market before investing.

[Davidvictorson]

He trained himself to be a trader but missed out on one of the most important aspects of crypto-trading, emotional intelligence. To a degree trading is like gambling. If we consider the neurobiological processes that comes into play. When you are winning in gambling a lot of dopamine is being released and it makes you feel good and happy. It is the same process that takes place when you are making profit in crypto-trading. You feel good. You feel happy. And you always want to feel that way isn't it? So you return to it and throw caution to the wind especially when you are low in emotional intelligence and then you lose.

[Mamun74]

Don't be greedy with crypto trading or investing. When you start trading or investing then you need to more patience. Cz every successful trader have more patience. Many trader lost their money their emotion.You need to control your emotion also.For newbie, You need to read more article books about trading.

[FlamingFingers]

No doubt about the fact that trading is gambling if you are trading on high leverage, its much more easier to loose everything on trading futures than trading on spot, I told a friend of mine that any future trader who uses leverage of from x3 above is gambling, most especially those who uses x10 - x125, that's pure gambling, I guess that's what happened to the dude OP mentioned