r/CryptoCurrency • u/RevolutionaryPie5223 🟦 0 / 0 🦠 • Feb 04 '25
DISCUSSION I loss $150k gambling in crypto
I got hooked when I turned $15k into $150k and then thought i was a genius. I kept pumping my salary into crypto there were ups and downs but end of the day I loss it all holding a coin when it went down all the way.
Stupid part was I purchased 10btc at the very beginning at 2017. But due to gambling problem i traded it away if I held would be a milly by now and much more in the future. Silly me.
Now im gonna put an end to this madness. Crypto can be very addictive and dangerous if u dont have the discipline like me.
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u/CriticalCobraz 0 / 0 🦠 Feb 04 '25
Just holding Crypto is stressful enough and feels like gambling.
Idk why people wanna gamble a high volatile asset
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u/R3dditReallySuckz 🟦 0 / 0 🦠 Feb 05 '25
Dopamine go brr
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u/Every_Hunt_160 🟩 9K / 98K 🦭 Feb 05 '25
OP didn't actually "lose" money that he put in, he lost 150k in unrealised profits in a shitcoin that was also obtained by gambling in the first place
So this was technically a gambling gain, and a gambling loss
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u/SpotCreepy4570 🟩 2 / 185 🦠 Feb 05 '25
135 k in unrealized profit, he lost his initial 15 k also, so he is 15 k in the whole from the way I'm reading it.
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u/NewKitchenFixtures 🟩 0 / 0 🦠 Feb 05 '25
They said “I kept pumping my salary into it”. The loss very well could have been a true 150k USD.
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u/Abdeliq 🟩 47 / 33 🦐 Feb 05 '25
He said he kept putting his salary in it btw🤷
Greediness is a b!tch
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u/scrogathon 🟩 139 / 139 🦀 Feb 05 '25
Literally, I've been holding for 5 years and been to turkey 4 times for hair transplants.
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u/Cassiopee38 🟦 0 / 0 🦠 Feb 05 '25
Made my first eth=>usdt last month, gambling on the fall of ETH and crypto in general, any address you could recommend in turkey for nice new (cheap) hair ?
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u/Exotic_Hornet6519 0 / 0 🦠 Feb 07 '25 edited Feb 08 '25
Lmfao didn't got the hair transplant joke at first but it's a good one
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u/chillsidecentral 🟩 0 / 0 🦠 Feb 05 '25
I used to play online poker and sitting there watching the charts and trading feels exactly like sitting at a poker table.
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u/ImpossibleCoffee91 🟩 0 / 0 🦠 Feb 05 '25
bro me too. even though I was a winning player at poker, it just felt pointless to me, sitting 10+ hours a day in dark room and making $10/hour and being angry and miserable every day
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u/Dry-Math-5281 🟨 0 / 0 🦠 Feb 05 '25
It's the way the markets work, and people are just too fucking stupid to understand it. Crypto is the new shiny object, and anyone that has never studied theoretical finance before thinks tradfi is this old, stuffy, holier-than-thou institution whose rules are just made up.
No. Tradfi became the way it is through a thousand years of trial and error post East India Company.
And what happened here is the same thing that happens every fucking time. 0.1% of the early adopters make an ungodly amount of money. And innocent people that don't understand large distribution sets buy in thinking this will change their life.
And we warn them against it time and time again, but an 8% return on an ETF is boring. And then someone loses. And then more people lose. And then - boom.
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u/Familiar-Worth-6203 🟩 0 / 0 🦠 Feb 05 '25
It's easy to sneer at steady returns on the S&P500 when you're young. "I can do so much better", one thinks.
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u/jaymbee00 🟦 0 / 0 🦠 Feb 05 '25
Professional bettors exist bud. My man laid it out pretty plainly. Discipline. That’s the tough part. Signed: a professional bettor.
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u/joenastyness 🟦 569 / 2K 🦑 Feb 04 '25
I’m with you buddy. I could have saved so much more money if I didn’t make compulsive financial moves.
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u/Every_Hunt_160 🟩 9K / 98K 🦭 Feb 05 '25
The funny thing is that I think OP wouldn't have made a 10x and turned 15k to 150k he didn't gamble
But that 10 BTC in 2017 tho. I get the sense he converted all of it into shitcoins
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
If u simply bought the good cryptos in a bear market and hodled would made a shit ton. If im getting back to crypto this is the only thing im gonna do now no trading.
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u/quantumdotnode 🟩 0 / 0 🦠 Feb 05 '25
If you use leverage you will definitely lose. Issue is that if you buy spot of wrong coins you also lose. So the way to do it is identify strong projects, get your entry and exit right and remember that in long term BTC is the real winner - in fact btc has been winner also in short term this cycle
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Feb 05 '25
The longer you stay in crypto, the more you realize you should’ve just bought bitcoin instead of trading all those shit coins.
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u/blingbloop 🟩 0 / 0 🦠 Feb 05 '25
But the reason you get out of Bitcoin is you see that it is essentially useless for payments, like an old main frame reduced to ‘store of value’ fanatics.
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Feb 05 '25
Bitcoin is a great hedge against inflation and great for moving large amounts of money from one country to another but yeah keep saying what critics have been saying for years
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u/fading319 🟩 0 / 0 🦠 Feb 05 '25
No, the reason you get out (after many cycles) is because you finally made it. People like you never actually understood Bitcoin. That's the reason why you never held more than 0.01 BTC but now act as if you have the slightest clue of what you're talking about.
There is no going back, and even if you "made it" - like I said before - why would you go back to the inferior asset where you have to deal with inflation again? Most people who are in Bitcoin, never get out again. At least that's the only logical solution you come to when you do plenty of research regarding the topic.
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
Btc will rise slower from now onwards its still good gains in the long term but prob not insane. Ppl will still play the alts.
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Feb 05 '25
Obviously people will play with alts but you’re going to notice a lot of people who perform better in the long term will be holding bitcoin.
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u/roughoutthere 🟩 6 / 7 🦐 Feb 04 '25
I'm sorry you lost the money, but you should consider it a good sign that you acknowledge you lost the whole 150k - a full gambling addict would have said they just lost 15k. That shows you still have a sense of the value of money. You can still write this off as an expensive life lesson and steer clear going forward.
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
I pumped money every month so it wasnt just 15k
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u/Environmental-Set357 🟩 0 / 0 🦠 Feb 04 '25
"Crypto can be very addictive and dangerous if u dont have the discipline like me"
"I got hooked when I turned $15k into $150k and then thought i was a genius"
big dog.....
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u/Nunos100 🟦 0 / 0 🦠 Feb 04 '25
I think he’s missing a crucial comma. I hope at least, then that sentence reads the way it should
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u/DrunkRespondent 🟦 0 / 0 🦠 Feb 05 '25
Bro couldn't afford a comma, give him some slack.
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u/InclineDumbbellPress Never 4get Pizza Guy Feb 05 '25
A comma??? In this economy?!?!?
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u/PeteSampras12345 🟩 0 / 0 🦠 Feb 05 '25
Ha I thought he was stating that he did have discipline until I read your comment. I was like, WTF?
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u/REDDlT_OWNER 🟩 0 / 0 🦠 Feb 04 '25
He’s saying he doesn’t have the discipline
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u/Environmental-Set357 🟩 0 / 0 🦠 Feb 04 '25
We all know what he meant to type. My guess is he didn't have the discipline to see the missed comma. IDK tho just a guess.
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u/Cannister7 🟦 1K / 1K 🐢 Feb 05 '25
I don't even know what you all mean about the comma and I'm usually the first one to pick up on that stuff. It reads fine to me.
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u/sopapordondelequepa 🟩 0 / 0 🦠 Feb 05 '25
Discipline, like me
Took me a while to get it, reads fine for as well
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u/texzone 🟦 0 / 0 🦠 Feb 05 '25
He meant to say:
“Crypto can can be very dangerous if you don’t have the discipline, like me (I don’t have the discipline).”
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u/Mister_Way 🟩 391 / 391 🦞 Feb 05 '25
"If you, like me, don't have the discipline" is clearly the meaning behind that ambiguity there.
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u/Every_Hunt_160 🟩 9K / 98K 🦭 Feb 05 '25
What's the ambiguity? The meaning of the sentence still reads the same for me with or without the comma
And why in the world are Redditors on r/cc nitpicking about commas anyway? Our crypto bags are all losing money and we're thinking about commas?
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u/Mister_Way 🟩 391 / 391 🦞 Feb 05 '25
The ambiguity is that it could mean "If you don't have discipline like the discipline I have"
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u/petertompolicy 🟩 0 / 0 🦠 Feb 05 '25
Dog, almost everyone here has been in crypto that long and most have not stacked many sats.
It's very easy to make up could haves.
Live your life, learn from your mistakes, don't keep repeating them.
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u/marcman623 🟩 121 / 122 🦀 Feb 05 '25
I'm right there with you bro. I lost 43k last year doing the same thing. It's a gambling addiction on steroids.
Good on you for changing course and giving it up.
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u/ThatInternetGuy 🟦 9 / 2K 🦐 Feb 05 '25
I personally knew a rich guy who lost between $6mil and $8mil trading crypto futures on Binance. But that wasn't his biggest loss. He lost his life by hanging himself.
During his early days in futures, he said he was nice earning $8K a day from crypto. Little did he know that he was going to gamble his houses and other assets away and would lose his life from that train of thought.
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Feb 04 '25
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u/SwedishChicago 🟩 0 / 0 🦠 Feb 05 '25
Ah yes, the classic Reddit expert diagnosis. Guy says he’s done gambling, and you roll in with a half-baked addiction lecture like you just unlocked the secrets of the human brain. Maybe—just maybe—people can recognize bad habits and quit without needing a full psych evaluation from some dude with a karma addiction. But hey, keep farming upvotes while pretending you’re helping.
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u/jrdeveloper1 🟦 0 / 0 🦠 Feb 05 '25
That’s unfortunate but I guess you learnt a lesson.
Rule of thumb: Always set aside some money after you made gains, at the very least set aside your principal (initial amount) or 50%
- $15k -> $150k
- then keep 15k or 50% (75k) shelf that
- then use the other 75k for bets or whatever
This way, if you lose 100%, you’d still have your initial amount or the 50% gained, 75k.
Meh - You live and you learn.
Don’t get too down, or beat yourself too much about it.
At the end of the day, you realistically only lost 15k.
It‘s all just numbers on a screen.
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u/MonsieurReynard 🟩 0 / 0 🦠 Feb 05 '25
Works great if you aren’t a gambling addict. Protect your principal and take some gains off the table. But the addict brain can’t leave it off the table.
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u/BHTAelitepwn 🟦 0 / 0 🦠 Feb 05 '25
this is all fun and shit, but doesnt work with investments that actually make sense rather than being speculations or gambles. If i would deposit 20% of my paycheck into s&p every month, i am not gonna take out gains.
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u/dotablitzpickerapp 🟨 0 / 0 🦠 Feb 04 '25
well atleast you have a story to tell;
What meme coin did you jump into and ride to 0? You understand how those work right with the liquidity pools etc?
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u/moonRekt 🟩 11K / 11K 🐬 Feb 05 '25
We have this guy in VeChain sub bragging how their ecosystem shitcoin is pumping and we’re all idiots for not buying more, anyone who’s been around knows ultimately the tide will start to recede and stay humble, they will tell you diamond hands because they want exit liquidity but always take profits
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u/JerryLeeDog 🟦 0 / 2K 🦠 Feb 04 '25
"Discipline like me" Dude you gambled shitcoins and got a completely normal outcome
Still have 25-30 years of massive Bitcoin gains ahead if you would just study it.
The rest of this trash will float around the bowl like ETH and others have been doing. All alts have a shelf life then a toilet life
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u/nickybokchoy 🟩 92 / 92 🦐 Feb 05 '25
He said (don’t have discipline) like me i don’t
Not - don’t have discipline (like I do)
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u/Dazzling_Marzipan474 🟩 0 / 11K 🦠 Feb 05 '25
25-30 years? Are you nuts?
Why so bearish? 😁
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Feb 05 '25
"Still have 25-30 years of massive Bitcoin gains ahead" Past performance is not indicative of future results.
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u/Every_Hunt_160 🟩 9K / 98K 🦭 Feb 05 '25
"Gambler calls out another gambler for gambling while being a gambler himself"
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u/soupsupan 🟩 0 / 0 🦠 Feb 05 '25
When you win big you need to step away and make plans for the money then it becomes more than a number it becomes real. Then you value it
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u/Wrong_Ad_4043 🟩 0 / 0 🦠 Feb 04 '25
Nice i was advised not to buy btc at 3k. Stone cold broke now :(. Hope you make it back to 150k+ just find a good entry and a nice low price.
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u/Frogolocalypse 🟦 0 / 0 🦠 Feb 04 '25
Nice i was advised not to buy btc at 3k.
Why would you take that advice?
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u/Wrong_Ad_4043 🟩 0 / 0 🦠 Feb 04 '25
Was completely new to crypto, i did see potential in it so asked a family member, he said dont, so i didnt next week, 8k, 18k, 20k etc. Hindsight
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u/valoon4 🟦 0 / 0 🦠 Feb 05 '25
Been there too. I have been telling everyone when BTC was at 200$ to just grab 50$ of it. I was 16 and had basically no income so those 50$ were a lot of money to me. Because evryone said not to do it I didnt put more... Fast forward and I sold those 50$ for 2500$ when BTC hit 10k
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u/burtsdog 🟩 0 / 0 🦠 Feb 04 '25 edited Feb 04 '25
"Crypto can be very addictive and dangerous if u dont have the discipline like me." Slight correction... 'TRADING' can be very addictive and dangerous. I've been trading a long time. imo 99% of people need a bot because they will never develop a strategy that they can consistently follow manually. So if you don't have a bot that will only take ideal setups and follow your risk management rules to a tee, you are likely just gambling. And if you cannot develop a bot that is consistently profitable, there is almost zero chance you will be profitable trading manually with all the logical and emotional errors that humans make. The vast majority of trading is now algorithmic.
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u/hackercat2 🟩 0 / 0 🦠 Feb 05 '25
I turned 40k into 100k and lost in cause I had my bot settings wrong and almost my whole portfolio in during a black swan w leverage a few years back. Live and learn.
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u/Ab2us 🟩 1K / 1K 🐢 Feb 05 '25
So the moral of the story is: Hold Bitcoin, and you'll be in a much better position.
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u/Powerqball 🟩 0 / 0 🦠 Feb 05 '25
Just by doing literally nothing with a 401k that is invested in S&P Index fund since mid-2012 I’ve turned just $15k into $115k. Imagine if instead of gambling people invested steadily over time. Imagine investing all $150k of that in now, it could easily be about $1M.
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u/ExcellentLifeguard72 🟩 0 / 0 🦠 Feb 05 '25
Ngl holding altcoins was the single biggest mistake I ever made. Holding btc would've outperformed everything by a big margin
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u/Envirant 🟩 0 / 0 🦠 Feb 05 '25
Same but I only put in 4k and when it went down to 20k I said do I hold on or do I just take it out now while I'm still up and pay my student loan or do I keep dreaming, and I decided to pay my student loan.
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u/juanddd_wingman 🟩 0 / 0 🦠 Feb 05 '25
Chance the mindset of gambling in crypto, to saving in Bitcoin
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u/goldtank123 🟨 0 / 0 🦠 Feb 05 '25
I was down 200k+ multiple Times. Now I’m down 340k and hope to get back before may. I seriously hope I do
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u/BetInteresting6076 🟨 0 / 0 🦠 Feb 06 '25
Bro you're doing great I've lost over a million shecks, keep your chin up
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u/WidePreference2969 🟩 0 / 0 🦠 Feb 04 '25
Buy back in n you will be back in no time
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u/ImaginaryDust 🟩 668 / 665 🦑 Feb 05 '25
It's a scam, trust me I've lost £100k+ on crypto but whats done is done.
I promise you there is no such thing as learning charts to make a profit, literally something can dump from $200 to $2 within mere days.
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u/Jrao 🟦 9 / 9 🦐 Feb 05 '25
Lol that's a lie, you can 100% make profit consistently. It's the greed that gets most people.
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u/SouthernJeb 🟦 0 / 0 🦠 Feb 05 '25
lol been seeing posts like this since the beginning sorry but damn.
Since 2012 I’ve bought family cars, house, additions, cancer treatments, college funds.
People say DCA for a reason. Don’t be an idiot. Same shit happens on wallstreetbets
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u/intelw1zard 🟦 0 / 0 🦠 Feb 04 '25
Perhaps you should look at giving someone else control over your finances or getting some addiction help.
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u/Traditional-Fan-9315 🟨 0 / 0 🦠 Feb 04 '25
Sorry to hear about your addiction. I hope you get well my friend.
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u/Equivalent-Battle-68 🟨 0 / 0 🦠 Feb 05 '25
Which coin? I lost $50k on Luna a couple years ago. Stings a little less now. You'll get there
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u/vrweensy 🟩 42 / 43 🦐 Feb 05 '25
i have a friend who had 50 btc from the mining days. his wife threw away the seed phrase when they moved cities. he found out when btc was at $25k. he must be fuming now
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u/solarus 🟦 0 / 0 🦠 Feb 05 '25
You can do it again! Keep trying, im sure your genius will prove itself again and you'll be rich
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u/Meme_Pope 🟩 0 / 10K 🦠 Feb 05 '25
I always say, thank fuck I was poor when I first got into crypto. I got to blow my tiny portfolio in 2017 without ruining my life and learn those lessons for cheap
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u/barronflux 🟦 0 / 0 🦠 Feb 05 '25
It’s okay. You’ve realized your mistake and where things went wrong. That’s huge! Now it’s time to walk away. You can do this.
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u/mrpotatonutz 🟦 0 / 0 🦠 Feb 05 '25
Regroup and stick to BTC it will be slow but you can recoup over time by DCA, stick to a percentage like 10%
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u/Alternative-Sport111 🟩 0 / 0 🦠 Feb 05 '25
Is there is a reason you didn't get back into bitcoin?
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u/fightinirishpj 🟦 441 / 442 🦞 Feb 05 '25
You have a gambling problem, not a crypto problem.
You shouldn't blame the US dollar, for example, because it's just a storage of value to transact with.
Also, you lost $15k. Sure, you built it up to $150k, but unless you cash out, it wasn't realized.
Hopefully you learned that the house always wins when you gamble long enough and get the help you need for the gambling addiction. You get rich through work and long term investments. You go broke trying to get rich quick.
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
No i lost maybe $150k. I started out 15k but regularly pump in amounts. Estimated would be $150k.
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u/GreenStretch 🟦 15 / 18K 🦐 Feb 05 '25
Just curious, did you have any experience with traditional markets before starting crypto?
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
I was trading stocks. Was doing ok because stocks are slow and boring and stuck to my plan even though gains were nothing fantastic. Crypto is like a casino. If u were to play it stick to top coins only maybe 5% for memes to scratch that itch.
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u/Gregster_1964 🟩 0 / 0 🦠 Feb 05 '25
Any crypto purchase is speculation - a gamble. No crypto has any intrinsic value. Fiat currency at least has the backing of a country, but it too is a speculative purchase, not an investment.
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u/mookizee 🟦 786 / 786 🦑 Feb 05 '25
Damn bro I'm looking so deep for some sympathy. Think I found a little with my lose change and pocket lint
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u/UFONomura808 🟩 0 / 8K 🦠 Feb 05 '25
I made a lot from memecoins and traded for btc/eth/link. I transferred it all to cold storage, making it easier to restrain myself from gambling it away. Just playing the hodl game now
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u/Madness2MyMethod 🟦 0 / 0 🦠 Feb 05 '25
Don't worry too much about it.
Even if you did hold and cash out a million.
You were destined to go broke.
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u/PrisonGlobe 🟩 0 / 0 🦠 Feb 05 '25
If it makes you feel better I lost 2.5 BTC because of gambling back in 2015 which turned me away from crypto for several years. Sorry bud. I hope this pain will keep you away from gambling. (It calmed me down a ton)
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
Ya i had anxiety and panic attacks every now and then because of this. But thinking about it i loss the equivalent of a car so it isnt all that bad. Some ppl lose millions that they can buy houses with. Its a pretty expensive loss but still a good lesson.
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u/very-curious-cat 🟩 0 / 0 🦠 Feb 05 '25
Never put more than what you expect to lose in an asset driven by fomo or panic. A few percent of your total assets is a good long-term investment. But actively trading and fomo buying/panic selling is gambling. You'll win some and lose some.
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u/Less-Grape-570 🟨 0 / 0 🦠 Feb 05 '25
Right there with you, I’ve blown up two accounts myself. Pick yourself up, adjust your strategy, get back out there
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u/DanSavagegamesYT 🟦 0 / 0 🦠 Feb 05 '25
Trust me, [it can always get worse.](https://www.binance.com/en/square/post/16849200371266)
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u/Xeromycota 🟩 0 / 0 🦠 Feb 05 '25
Boy, I lost $2.7K in last crash, I did "Don't risk something you can't afford to lose", but damn it still hurts
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u/Low_Answer_6210 🟩 0 / 0 🦠 Feb 05 '25
How man. Crypto is meant to be held not traded. What were you doing meme coins?
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u/Getherer 🟦 61 / 61 🦐 Feb 05 '25
That's literally a you problem, not crypto problem. You're a gambler and possibly an addict, seek professional help before it's too late
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u/Ranyhin1 🟩 0 / 0 🦠 Feb 05 '25
I haven’t lost that much, but I did recently make a stupid bet that cost me over 15k. It certainly can be addicting after you make gains and think you’re invincible
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u/frozennorth0 🟦 478 / 479 🦞 Feb 05 '25
Easy to think that 50-100% gains in less than 1 year isn’t enough. Take a step back every once in a while and take some gains and be okay if you don’t capture 100% of the upside.
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u/flavourantvagrant 🟩 36 / 37 🦐 Feb 05 '25
DCA btc and hodl. That’s all you need to do
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u/SimaasMigrat 🟩 0 / 0 🦠 Feb 05 '25
Had a similar experience over the last 1.5 years. Money I could lose only but still.
The worst for me is not even that I don't have the money anymore. It's this knowledge that I fucked it up eventually. It outweighs any pride I felt while things were working out at first.
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u/CryptoCryBubba 🟦 28 / 28 🦐 Feb 05 '25
Meh
A mate watched $2M vanish in the Luna crash.
He was about $40k invested in and up 50x.
He rode it from a few dollars to over $110.
Then "poof".
In the meantime, SBF will be pardoned - because his parents will pay off Trump - and he'll live a life of luxury...
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u/KnownPride 🟩 0 / 0 🦠 Feb 05 '25
you buy and sell without any clear goal in mind, nor have any risk management. So yeah you're not wrong you're gambling.
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u/Strange_Window_7206 🟩 0 / 0 🦠 Feb 05 '25
Yeah i keep telling myself to stop putting money in, but them it dips harder and im like well lets get the avg down. Then it dips harder
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u/volcjush 🟩 0 / 0 🦠 Feb 05 '25
So after gaining that $150k you put that ALL in one single shitcoin? No diversification whatsoever? Well than you are right, it is pure gambling.
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u/lostdream9000 🟩 0 / 0 🦠 Feb 05 '25
This happens to a large majority of people. You either learn from it and play slower but safer, or keep banging your head against a wall.
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u/sdraje 🟦 36 / 36 🦐 Feb 05 '25
I don't want to be an asshole, but if at one point you had 10 BTC, you lost more than a milli.
I just hope you find your footing and stop gambling. Yes, crypto (and stocks and other assets) feels like gambling, especially if you try to time the market or some such, but if you see it as a (very volatile) store of value and hold your bags, it should be fine. Otherwise, just distance yourself from it, ot your addiction would just worsen.
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u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25
Ya i was young and dumb. Fully regret doing stupid shit like that. Now i would never own one btc. But i will still stack btc and xrp from now onwards.
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u/ChoiceResponsible130 🟩 0 / 0 🦠 Feb 05 '25
You didn't lost any 150k.
You lost only what you invested. Assuming it's 15k, you lost only 15k.
You never officially had those 150k until you withdrew them and then put it back to lose it.
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u/Lanky_Surprise_4758 🟨 0 / 0 🦠 Feb 05 '25
Only ever invest what you are willing to loose… as you clearly pointed out vast majority of crypto is like gambling..get some help if you feel you have a gambling addiction.
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u/tauruapp 🟩 0 / 0 🦠 Feb 05 '25
Man, it’s a tough journey but I respect the honesty. Crypto’s wild, and it’s easy to get caught up. Hope this is the start of a new chapter with lessons learned.
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u/r1chbro 🟨 0 / 0 🦠 Feb 05 '25
when you get gains like that, DCA out, then protect your gains. As Raoul Pal says, take some lifestyle chips off the table and enjoy
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u/Gojo26 🟩 4 / 4 🦠 Feb 05 '25
I loss also alot of money in crypto but I did withdraw alot also. And bought real life asset.
Dont let the casino house win. Take some chips and gains of the table.
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u/timeforknowledge 🟩 0 / 0 🦠 Feb 05 '25
Sorry to be annoying but you didn't lose $150k...
We have a term in the investing world called paper gains/losses.
Until you actually sell what you've invested you haven't actually gained or lost anything.
You can state you made a paper gain of $150k but no one that invests will actually care that much as everyone has done that.
The real genius in investing (as you now know) is selling at the right time and turning paper gains into realised gains.
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u/kitbiggz 🟩 0 / 0 🦠 Feb 04 '25
Dude your not alone. I've heard far worse stories.
You need to get out of a gamblers mindset and into a long term investor mindset.
That means only investing in things that you don't mind holding for a couple years. Like Btc, Gold, Blue chip stocks, spy, ect. I know that sounds boring but you have to break the cycle of gambling.