Investing

"I lost money on cryptocurrency" thread

  • Last Updated:
  • Oct 1st, 2019 6:01 am
Deal Fanatic
Apr 8, 2013
9265 posts
536 upvotes
officerjimlahey31 wrote:
Mar 14th, 2018 10:25 am
Thats fine. So there are other bubbles out there. None are as volatile and will pop as violently as the crypto bubble. And it hasn't popped yet.
Those "other" bubble might not be as volatile but a little fart can cause nationwide recession. A 70% loss in crypto doesnt affect anything.

WELCOME TO THE FUTURE. Smiling Face With Sunglasses
I know you get offended by the terms ponzi/pyramid but these coins behave exactly like a pyramid scheme
The government of Canada consider it as a commodity and a currency. Such a ponzi scheme. LOL.
Don't forget the other notable investors like John McAfee,


There are bad actors everywhere. We do not live in a fantasy land where everyone is honest.
And most of them have created livelihoods from the crypto markets. Bert and Ernie own Gemini. Novogratz has a hedge fund. Cuban is merely speculating with play money.
Circle bought poloniex likely because poloniex is a very profitable exchange.
Cute little excuse but I thought its all a scam?. Why would they openly join a scam?. Face With Tears Of Joy

This is too easy.
TORONTO RAPTORS IS THE 2019 NBA CHAMPIONS
Sr. Member
Jul 19, 2007
826 posts
132 upvotes
alanbrenton wrote:
Mar 14th, 2018 4:10 pm
For your last statement, I think there is faulty logic there. Just because cryptos are used to fund sports betting accounts, it doesn't mean cryptos are not going to zero.

I'm sure in Zimbabwe, their local currency is used for sports betting accounts too and after hyper inflation and devaluation, what happened?
If people have to buy it to fund their books the demand will keep it from going to zero.
Paypal will never be accepted for it.
Jr. Member
Mar 1, 2011
167 posts
84 upvotes
Syne wrote:
Mar 13th, 2018 6:40 am
I see, and you misconstrued my comments to mean that these tokens would increase in value perpetually, and the market will never correct. Got it.

How about we revisit this thread in 3 months.
It hasnt been 3 months yet but the market has had quite a recovery.

Good call. Nothing has changed to make me want to invest, but steady hands have been rewarded.
Deal Guru
User avatar
Dec 7, 2009
13794 posts
1304 upvotes
officerjimlahey31 wrote:
May 3rd, 2018 7:41 pm
It hasnt been 3 months yet but the market has had quite a recovery.

Good call. Nothing has changed to make me want to invest, but steady hands have been rewarded.
Not really remarkable. Crypto has enjoyed a cycle of deep corrections followed by new all-time-highs for several years now. I simply bet that it would happen again.

Still, watching your portfolio drop 75% isn't fun.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

Check out caRpetbomBer's picks in this thread.
Member
Aug 27, 2014
354 posts
182 upvotes
Lost money? I made a few bucks, not much. Another drop and I've lost a few bucks.

But I invested almost a year ago now. Time flies fast.
Member
Aug 27, 2014
354 posts
182 upvotes
brunes wrote:
Mar 11th, 2018 8:21 pm

There is a reason all these paper-millionaires and paper-billionaires in BTC are not cashing out - THEY CAN'T. The market is not liquid enough to cash out!
Daily volumes of over 5 billion dollars and millionaires can't cash out? What a ridiculous idea...
Deal Fanatic
User avatar
Sep 8, 2007
7044 posts
6291 upvotes
Way Out of GTA
Some gem comments in here, good for a laugh.

Two specific ponzi bulls seem to have retreated back to Off Topic.
Sr. Member
Aug 6, 2014
764 posts
205 upvotes
Ottawa, ON
was very seriously considering a $50k investment into cryptocurrency, reddit & rfd scared me off of it and i put in $500 instead (i think i just wanted to say i was investing in crypto). this was last november when everything was about as high as it would get. i'm sure i'm down about $450 right now, don't really care, so glad i didn't invest real money. thanks rfd & reddit!
Deal Addict
Aug 12, 2004
4116 posts
1478 upvotes
Calgary
cartfan123 wrote:
Dec 15th, 2018 7:23 pm
Some gem comments in here, good for a laugh.

Two specific ponzi bulls seem to have retreated back to Off Topic.

This post has +6 , it did not age well...
Syne wrote:
Jan 25th, 2018 2:39 am
I don't think anyone is really losing money on cryptocurrencies. Honestly, if you're not on this train and you're savvy enough to navigate it, you need to get your ass on board.

The people coming in this thread saying the "party is over" are probably upset because they didn't get in earlier, too scared to jump in now, and are trying to rationalize their decisions.
Deal Addict
Jun 21, 2008
2801 posts
350 upvotes
Toronto
boceya wrote:
Jan 9th, 2019 10:10 am
the market is bad and still looking bad since we last discussed
https://www.coingecko.com/en
not for the faint of heart
It's been bad?

ETH went x2

TRX went x2.5

and everything was 10-30% up

This was from late Nov and early Dec

Feel sorry though for the people who've been buying stuff in the past week thinking alts were back - they've been back for a month already and that's the average length of an alt cycle.

Another poster said if you were savvy and can navigate the market you can do well - this is true. If you've been buying instead of taking profits over the past week you were doing it wrong lol.

And crypto is bullsh*t - that's the first thing you need to come to terms with if you want to navigate the market, becomes much easier once you do Face With Tears Of Joy
Newbie
Sep 29, 2019
1 posts
Many people lost money while trading cryptocurrencies.

I lost $2000 on bitcoin, I remember that time it was too depressing, but somehow I recovered as then I explored the internet and found that there are some online platforms who are helping people who are facing this type of problem.

If I have to suggest, I would say Olymp trade and IQ options are better if compared with others. they facilitate their customers with many facilities, and these platforms guarantee secure trading.
Richard Brown
Crypto Trader
W- https://xbinop.com

Top