Do Not Risk More Money in Crypto Currency Than You are Willing to Lose!
The Original Thread on Reddit.
Please do not be this dumb! I want you to profit in the world of Bitcoin and Crypto Currency. I do not want you to be wiped out. I have been at this game 100% since 2014 and have seen many folks lose it all. The most dangerous actions in this world are financially uneducated people who invest in something they don't understand. Many times through the ages these people are the ones who lose their money and then go running to the regulators.
- Educate Yourself
- Only Buy Crypto Currencies You Understand.
- Keep Your Crypto Currencies in Your Possession, Off of Exchanges.
- Go to Events and Meetups.
- Don't Follow the Masses.
"There's a sucker born every minute." - P. T. Barnum
Sometimes people do things that seems so brainless you wonder if it's even true at all.
Do he realise that bitcoin is so volatile that there's a meme for it?
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lol "brainless tales" seems very fitting in this case. :D
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2 Year hold and he should be ok although having a terminal illness this does not sound like it will end well. Bitcoin adjustment is coming very soon. Maybe you should send him a message and provide him with 'friendly' advice if possible? At least wait for a market correction?
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A typical uneducated sheep buying on the highs. lol This tends to be a typical trend with stocks as well. Human emotion always gets the best of most folks.
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BUY HIGH, SELL LOW! LOGIC
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Got Bitcoin?
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I imagine it's quite a feeling when your entire cash supply is inflated to less value than the dirt you are standing on. :x But hey you're a trillionaire right?
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There should be a class given on the dangers of central banking. And make it mandatory!
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Ouch, hope it works out for him.
Reminded me of this thread
Although he would practically have made a killing, it could very easily have ended differently.
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You NEVER go FULL RETARD!
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Pure madness!
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Well said Hilarski! "Do Not Risk More Money in Crypto Currency Than You are Willing to Lose!" is so true!
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I didn't even want to open that thread. I saw the title and cringed. It's a HORRIBLE time to buy right now when you're talking about such rates (and btw, the amount of BTC he could've gotten seriously makes me angry!). He should've bought bulk after earning some trust from some pro vendors. A few high fees at the start and then long term he would've gotten more. I really hope he makes money but he could've probably made a better bet on a penny crypto then to suddenly take that out right now. If he holds LOOOOONG, then sure.. but if he needs just a little bit within the next year or two and he's expecting 10x returns.. well.. oh boy..
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Why not its only money. big time sweat. I would personally buy Dogecoin.
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Well, I hope he can afford to hold that for at least a year.
upvoted
@shayne
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Биткоин рулит,...не паникуйте...почаще вспоминайте 2011..
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Ya know, (if it's true), terminal illness explains a lot. Poor guy on more than one front.. I hope he liquidates for a profit!
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Very well said... I hope this dude doesn't lose his shirt, and more... I like your "5 points," as well... I'd add a 6th: "Study the psychology of trading" so you truly understand such things as "the sheep effect" and "irrational exuberance."
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Oh my oh my
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He went all in.
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Holy crap ! If I had done that I would'nt sleep a wink for a long while. A story like this shows how important it is to reign in your greed. Thanks for posting.
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Good information. Thank you!
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The highest peak @hilarski
Resteem!!!
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Ouch!
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Guys like this end up like Roger Ver - loaded by doing something crazy!
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Let just hope that things will turn out positively for him.
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This is the truth. I'm always worried to see many people reacting based on emotion to daily swings in the market...
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What are the odds this is true and not just a troll having fun?
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It is possible but I am glad they did it for educational purposes.
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Yeah, definitely a good learning experience. I spent a lot of time today explaining to someone on Facebook today why a certain bitcoin based pyramid scheme promising to "double your money" in 90 days is probably a scam. The frustrating thing is the person thought they were "signing up" to the "company" Bit Coin.
The company.
Ugh.
There's so much education to be done in the world.
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Oh my goodness! That is very scary.
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You should never ever ever take out a loan for investments/speculation/trading.
The only loan I would agree to is a business loan, that is well thought out, well planned, and has a good business plan that even the bank agrees too.
But taking out a loan just to get rich quick, will most likely ruin your life, if the market goes south. The risk is just too high.
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All at once!? At least pretend you know what you're doing! Buy the dips man, and no I'm not talking about sauces!
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All 5 are important, but 3 is the one least mentioned. Storage. (We use TREZOR.) Keep that stuff in your possession.
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