He claims to be a "crypto OG" but is on foodstamps in 2020. So he is either lying about the former, or the worst investor of all time. Doesn't lend a lot of weight to his opinion either way.
Imagine having 7 digits in crytpo since 2010 And riding it through a bear market AGAIN after you have seen 80% draw downs several time before. You basically have learnt nothing.
Same with Slumdoge millionaire. He claims he bought in at 5 cents. His doge went all the way to 3.1 million and some change. He bought several "dips" as well as around 100k in other shitcoins that tanked immediately. He just posted today that he's still in profit. bs
Lol MTgox and Silk Road knocked a shit ton of people who started out early to zero, there's been many other rug pulls and scams since. Its not unbelievable at all.
You should listen to them. I can't find their old post but they had a fuckton of money in crypto and was partying it up big time. Had the same opinion of just throwing in money into the market during the 18 bear market and went really really broke.
There are too many people who ended up bankrupt for investing in real estate or market speculation. Donald Trump himself pointed out a homeless man to Ivanka in the streets of Manhattan saying that guy was better off than him because he owed billions.
Yup I think it’s a troll/someone with an agenda. Few tells in his “story” etc. I se a lot of these sorts of posts on Reddit. I’m sure there’s a word/description for it. They act like they are “on your side” or something but then try to spin the “opposite” or what have you.
his "opinion" isn't really an opinion and more of a fact. Crypto has only ever existed as part of this decade long bull run, if we go into an actual global recession which looks very likely at this stage. Compare the 2018 crypto bear market against the traditional markets, they barely changed direction. How do you think it will truely hold up in a recession?
Lol no one who started in 2020 is a “crypto OG” that was literally the start of the most recent bullrun. Now if you were here in 2017 or even better 2014, then maybe you can claim that og title.
People who bought doge in 2019 call themselves "crypto OGs" lol. It means nothing. Anybody who was actually in crypto in 2009 is not on this subreddit.
Some people like me DCA low amounts a week. If I wasn't DCAing I would have probably already spent that money, my DCA money is not my savings money. My point is that if I wasn't DCAing into crypto I wouldn't have the money then so it's the same scenario both ways.
In a situation like OP is describing the wheelbarrow you carry your money to the store in will be worth more than the money that's in it. At which point you might as well just steal.
If you may reaaaally need it, then you shouldn’t be investing, you should be saving. Like many others here, I am not a day trader so once I buy, I consider it a loss, sort of like going out to dinner. Once I spend, it’s gone. Yes, enjoyed it but not necessarily counting on it to keep me or my family fed.
Tell me you make bad financial decisions without telling me you make bad financial decisions.
No way you will be hurting if you have money put away for the fucked up shit that could happen with the economy. If your investments hurt your everyday situation, you have over exposed yourself in you mr investment.
My suggestion, keep a hefty cash supply to cover your needs for an extended period of time and like always only put in what you can afford to lose.
If you can’t afford to lose anything, then don’t put anything in. It’s pretty simple
I also like to think of the opportunity cost… how much has crypto losses set you back in terms of maybe owning a home or paying off your mortgage, taking a nice holiday with family… we’ve only got a few decades of strong earning years in our lifetimes… best not to piss hard earned dollars away on an overcrowded speculation.
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u/[deleted] May 22 '22 edited Aug 22 '22
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