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Author Topic: SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin  (Read 188 times)
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April 24, 2019, 06:04:09 PM
 #21

A lot of really rich people are fucking dumb. Serves him right for acting like a total douche, I guess.

To be fair, for a bank owner? The $130m is likely to not be a significant amount of money for Masayoshi Son. I mean, the dude has a net worth of $24 BILLION for Jeebus sake. Compared to us, the $130m he lost might just be like an equivalent of a poker night for us.


Source: https://en.wikipedia.org/wiki/Masayoshi_Son
Wow, I also think that way, if he have this amount of net worth taking this gamble and risking with such little amount of money for him is not consider as a big loss, he can continue and make another things in life maybe crypto is not for him or maybe he's analyzing his next move if he's still planning to continue playing inside this market, we never know what will happen next but one thing is for sure, this man will recover this money whatever venue of investment he will choose to go.

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April 24, 2019, 06:13:09 PM
 #22

Some people have to be the idiots who sell low. He bought high in 2017 and sold low in 2018. The dumps had to come from somewhere and now we know who was liquidating their holdings.

Reading such stories makes me feel good. He didn't know what he was buying and bought after a recommendation from someone else. He spent a lot of money at once without cost averaging. We all know people who did it.

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April 24, 2019, 06:26:54 PM
 #23

His mistake was selling when he should have held and waited till the next halvening and next bull run.

Don't you know the golden rule of investing in bitcoin or cryptocurrencies in general? Buy high, sell low!

I thought it was buy low and sell high!  Tongue

A lot of really rich people are fucking dumb. Serves him right for acting like a total douche, I guess.

To be fair, for a bank owner? The $130m is likely to not be a significant amount of money for Masayoshi Son. I mean, the dude has a net worth of $24 BILLION for Jeebus sake. Compared to us, the $130m he lost might just be like an equivalent of a poker night for us.


Source: https://en.wikipedia.org/wiki/Masayoshi_Son

I agree, this is just bits from his money. But I can't come of a reason why he would sell. I think he knows all the details he needs to know about bitcoin including the halving and the coming bull. But why would he sell? Especially now that bitcoin is slowly going up again and considerably somehow is getting traction.
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April 24, 2019, 06:36:39 PM
 #24

Billionaires problem but its will probably not affects his current wealth.

Some billionaires are good in investing their assets in different companies and stock market but when it comes to bitcoin or cryptocurrency market they are bleeding too bad and the reason why other rich and famous are taking a step back in buying BTC in the market.

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April 24, 2019, 09:59:10 PM
 #25

From the article:

Quote
Last year, Didi Taihuttu sold almost everything he owned, poured it into bitcoin and moved his family into a trailer park. In this episode of Moving Upstream, WSJ’s Thomas Di Fonzo goes on a year-long journey with the “Bitcoin Family” as they bet everything on a decentralized cryptocurrency future.

Wow, he made a crazy decision with this one.  I wonder how a person could make so much money in his life and not know how proper investment works. This Probably is an inherited wealth or it came from easy sources.



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April 25, 2019, 01:10:40 AM
 #26

Quote
His mistake was selling when he should have held and waited till the next halvening and next bull run.
he don't know how bitcoin work when he buy some and hold e asecond, price get down and make panic his and sell it quickly. he must be learn how bitcoin price on market work

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April 28, 2019, 04:08:43 PM
 #27

he tested bitcoin on the wrong time and even exit is wrong time so he saw loss most probably he might have waited for more time untill the market recover
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April 29, 2019, 09:14:10 PM
 #28

he tested bitcoin on the wrong time and even exit is wrong time so he saw loss most probably he might have waited for more time untill the market recover

He saw his BTC is losing its value faster than his breathe so since we are talking millions worth of BTC then he probably decided to pull the plug and limit his losses. He lost his bet and this is their ways to make money., Its either they make millions or lose millions.

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April 30, 2019, 07:38:38 AM
 #29

Very surprising to hear that despite all his experience and expertise, he dumped the coins when the prices were very low. Would have made sense if some teenager was doing this with his pocket money. I guess he was hard pressed for funds and therefore made this move. Imagine what would be his reaction, if Bitcoin climbs to new ATH after the next block reward halving (I am not joking, as of now there is a very strong chance of another bull run just like what we had during the second half of 2017).


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April 30, 2019, 07:49:42 AM
 #30

Very surprising to hear that despite all his experience and expertise, he dumped the coins when the prices were very low. Would have made sense if some teenager was doing this with his pocket money. I guess he was hard pressed for funds and therefore made this move. Imagine what would be his reaction, if Bitcoin climbs to new ATH after the next block reward halving (I am not joking, as of now there is a very strong chance of another bull run just like what we had during the second half of 2017).

well that's normal . this isnt surprising at all because this scenario do actualy happen at all times especially to an expert and wealthy people as they are the ones that take big risk when investing  but if ever he see's the bitcoin reaches a new ath i think he will be shocked and he will  felt a little regret on why he sold his coins too early  . ath can probably happen this incoming month's and right now i feel sorry for those who are weak handed that will be missing this ride  .
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April 30, 2019, 10:20:59 AM
 #31

IS this true i cant able to beleive the person who can vanish Uber from Asian countries by funding rivalries huge amount could make this kind of foolish decision . If it the news is genuine then i think every genius will have some foolish thing to do in life.

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April 30, 2019, 10:25:52 AM
 #32

Very surprising to hear that despite all his experience and expertise, he dumped the coins when the prices were very low. Would have made sense if some teenager was doing this with his pocket money. I guess he was hard pressed for funds and therefore made this move. Imagine what would be his reaction, if Bitcoin climbs to new ATH after the next block reward halving (I am not joking, as of now there is a very strong chance of another bull run just like what we had during the second half of 2017).

As someone pointed out above, he probably entered with a huge capital. So he probably did what most institutional traders do. Enter at a desired price point, set a desired take profit, and a stop loss. He probably just hit the stop loss and triggered the sell is all. He might have lost $130M but we don't know what the capital was. Was the loss 1% of his bankroll? 5%? That's acceptable risk in any measure of market trading.

I've lost plenty of money myself trading and gambling but these were all acceptable losses, at acceptable risks.

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