Lost 80% of life savings in crypto today

Diaperrash wrote:

up the ante wrote:

Calling BS on this post. If I lost 80 percent of SIGNIFICANT life savings I wouldn't get on LTC and cry about it.

What is LTC?

LetsTroll.com?

I’m glad the OP is looking for help.   It would be extremely overwhelming to lose a big portion of your net worth on any investment. There are resources for help out there . Just remember things get better. Life is precious. You can always call this number 1 (800) 273-8255 or visit http://www.suicidepreventionlifeline.org/for help. Feel free to email me wejo@letsrun.com -Weldon

Op just hold and relax. Sell when you break even or close. Some cryptos will within a year or so anyways.

Unless you got some really obscure ones, those might not.

Diaperrash wrote:

up the ante wrote:

Calling BS on this post. If I lost 80 percent of SIGNIFICANT life savings I wouldn't get on LTC and cry about it.

What is LTC?

LetsTroll.com the leading website for trolls with a running problem

I hope this thread is true. Crypto is for lazy people that want to get rich quick and not work. Crypto is a joke.

Unless this guy invested in some some small market-cap sh1tcoin he's a liar because no reasonable crypto investment dropped 80% recently (or ever that fast). If I were OP I'd be more devastated about my lack of intelligence and critical thinking skills than money.

Remember that Bitcoin usually makes most of its annual gains in only a few days a year. It will likely stay here for a bit but will go back up by 3-4 months from now.

Also if your finances are in such rough shape that you are considering suicide, consider reaching out to others for financial help. If you set up some kind of GoFundMe type program I'm sure you could get some support.

up the ante wrote:

Calling BS on this post. If I lost 80 percent of SIGNIFICANT life savings I wouldn't get on LTC and cry about it.

I agree. The OP is a classic poop-post.

He probably had an 80% drop in one specific investment (like the $1000 every middle-class idiot has put on some crypto as an "experiment") and is blowing that up to a "what if" hypothetical trolljob.

Sucks to suck. Shouldn’t have been messing around with made up money.

Why would you have so much of your savings in one asset class?

abdjd wrote:

I lost close to $70,000

I'm assuming you're early in your career if $70K is 80% of your life savings. Plenty of time to build your balance sheet. Take it as a lesson learned and move on.

There's going to be a lot of stories like this in the coming years. Anyone buying NFTs will lose every penny. Most cryptos will also go to zero. A handful will stick around if they have a solid foundation.

I expect a more extreme Occupy Wall Street movement. All the young folks who lost every penny "investing" because they think they are investing experts even thought they have absolutely zero knowledge of finance or investment management will say Congress needs to bail them out for losing all their money.

Always remember professional investors know more than you. It's all fun and games when the bubble inflates because everyone wins, but when it bursts the professionals stick around while the middle and lower class lose their mortgage from overleveraging in extremely risky investments. They don't even know how to measure risk, much less risk adjusted returns.

Anyways, I'm actually happy crypto is cratering. I'm ready to load up again and add to my pile as a long term holder of an established cryptocurrency being used by 1000s of companies and handfuls of countries.

I can't figure these things out as they are unfolding or in advance, but after the fact seems a bit easier. And my hunch is that the whales, and there seems to be a surprisingly few number of holders who hold a large portion of the available coins, agreed to drive the price up to an astounding level with the full knowledge that they would rather quickly sell if off, but only after they had attracted the attention (and greed) of the average retail investors. A fake spike to attract interest, and then they dumped, leaving retail schmucks holding the bag. Perhaps they have some left in there to hold until the bulk of the holders capitulate (give up and sell, at or near the bottom). They then wait a year or so and repeat.

As for your idea of crying to the governing bodies, I think you are very wrong. This happened just a few years ago - major crash - and there was nothing of the sort. That is a given in this sector.

Maybe yer dum wrote:

Unless this guy invested in some some small market-cap sh1tcoin he's a liar because no reasonable crypto investment dropped 80% recently (or ever that fast). If I were OP I'd be more devastated about my lack of intelligence and critical thinking skills than money.

It’s possible. I’m down 65% on DOT. Luckily I only invested $1,000 and it’s the only coin I own. I made pretty decent money on ETH, but I’m out now.

I know people that made a lot of money on the smaller coins like Litecoin and Ripple in the early days, and tried to catch a big hit on their advice. Win some lose some.

To the OP, a lot of people lost 80% or more in 2007-2008 and have way more now than their peak back then. Hang in there.

Sorry about your loss! Be quick to report your case to vtechforensics on Telegram. They'll help you with recovering your lost investment on any platform. I can't thank them enough for helping me, they literally saved my life.

They have a game show for this. I think it’s called Squid Game.

Don’t know Jack shlt about shltcoin but if it’s anything like the stock market you’ve gotta ride out the storm. You haven’t lost anything until you cash in. My portfolio has crashed by several hundred k many times only to recover and make gains in the long run.

Crypto is a classic pump and dump. It will drop more, whales will come back in, drive it up, and get out again. Rinse and repeat. Play at your own risk..

It's not a loss if you didn't sell