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.

1.5k Upvotes

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719

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

326

u/R3dditReallySuckz 🟦 0 / 0 🦠 Feb 05 '25

Dopamine go brr

138

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

55

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.

60

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.

14

u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25

It is. Estimated.

6

u/SpotCreepy4570 🟩 2 / 185 🦠 Feb 05 '25

Yeah I could see that.

1

u/Agile-Ability5524 🟨 0 / 0 🦠 Feb 05 '25

I kept pumping.. they could be talking about other stuff

1

u/newbirdhunter 🟩 0 / 0 🦠 Feb 06 '25

The older you get the less you pump

3

u/Abdeliq 🟩 47 / 33 🦐 Feb 05 '25

He said he kept putting his salary in it btw🤷

Greediness is a b!tch

12

u/porkmyass 🟩 0 / 0 🦠 Feb 05 '25

What’s the opposite of brr?

50

u/cms5213 🟦 23 / 24 🦐 Feb 05 '25

Durrrr

18

u/Every_Hunt_160 🟩 9K / 98K 🦭 Feb 05 '25

Crrrr-ash!

1

u/F-machine 🟦 600 / 2K 🦑 Feb 05 '25

Sonic boom

13

u/Alarming_Employee547 🟦 0 / 0 🦠 Feb 05 '25

Skrrrrt

1

u/clayticus 🟩 11 / 12 🦐 Feb 05 '25

peep

1

u/iam_bigzak 🟥 0 / 0 🦠 Feb 06 '25

Ruuuggggrrrrr

1

u/Just-Town-1484 🟩 0 / 0 🦠 Feb 05 '25

Dude it really does

1

u/soggyGreyDuck 🟩 0 / 0 🦠 Feb 05 '25

It's never the same as your first bull run. You have too many losses in alts that don't recover so you tend to stay a little more grounded. Basically looking at yearly lows instead of yearly highs because you know how brief those peaks are

1

u/siridial911 🟩 21 / 38 🦐 Feb 05 '25

Bingo. It’s a high.

1

u/Davey716 🟩 0 / 0 🦠 Feb 05 '25

Yall are getting dopamine hits?

I’m numb to this shit

1

u/TackleMySpackle 🟦 0 / 0 🦠 Feb 05 '25

I don’t have this issue with crypto. As soon as I buy crypto it just drops to zero. This is good because then I never get that dopamine hit.

1

u/nathsnowy 🟦 0 / 0 🦠 Feb 06 '25

just fukin smoke it’ll probs kill u later than stress from this shit will

31

u/scrogathon 🟩 139 / 139 🦀 Feb 05 '25

Literally, I've been holding for 5 years and been to turkey 4 times for hair transplants.

8

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 ?

2

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

1

u/Clidesdale1 🟩 0 / 0 🦠 Feb 05 '25

Same.. stressful. I actually made more money playing poker than I have at crypto.

37

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.

7

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

1

u/pynkpanther 🟩 116 / 117 🦀 Feb 05 '25

If u can reliably make 10$/h on avg cant you then also Just make 100/h? Sry, ibhave honestly No clue

1

u/ImpossibleCoffee91 🟩 0 / 0 🦠 Feb 05 '25

both my skill level and mental game were lacking. I could make money against bad players in zoom pools, but once I moved up to games higher than 25NL, my winrate would reach closer to breakeven. and when my winrate drops, my mood swings also increase.

even if I was making $100/hour with poker, it's still not worth it. I don't grow at all as a person, I don't meet other people, I'm not having fun or feeling any sense of purpose and all I would think about is money, money, money. I blame poker for going bald at the age of 25 lol

believe me, some people are naturally good at poker, because money and swings mean nothing to them, and some of us can never be good no matter how hard we try. it's much better to move on to things that make us happy, even if it pays less

1

u/pynkpanther 🟩 116 / 117 🦀 Feb 05 '25

I c. Makes totally Sense. Thx for clarification

15

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.

7

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.

1

u/[deleted] Feb 06 '25

So they buy QQQ and make 14%.

2

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.

1

u/[deleted] Feb 05 '25

Crypto is gambling if you don't know that you shouldn't be in it

1

u/Any-Kaleidoscope7681 🟦 0 / 0 🦠 Feb 05 '25

Dude what are you talking about? Holding Bitcoin is the most financially freeing feeling I've ever felt; the trick is to hold it for at least 4 years.

1

u/JWCrawfs 🟩 0 / 0 🦠 Feb 05 '25

I’m waiting on a drop to buy in

1

u/nachtraum 🟩 1K / 1K 🐢 Feb 05 '25

It's called gambling addiction

1

u/ambermage 🟦 6K / 6K 🦭 Feb 06 '25

Idk why people wanna gamble a high volatile asset

How is it different from gambling Dollars?

1

u/G0DL33 🟦 0 / 0 🦠 Feb 08 '25

Bro I been saving in crypto since 2015... It's fucking easy and has changed my life for the better.

0

u/RevolutionaryPie5223 🟦 0 / 0 🦠 Feb 05 '25

For appreciation... Like cryptos will get rly exp years ltr