/biz/ - Business & Finance

>>49415746
If this is not a 1pbtid larp:
What did you buy and what do you have left
Do you have a job
Money comes and goes, being 25 is more valuable than the $60k you lost
Finally: you learn markets by losing money not by reading books or taking classes

Stop worrying and have some faith in yourself that you will make it back.

>>49415807
It's not a larp I don't know how I can really prove that. I lost closer to $80k as well not just $60k.
I work a shitty manual job that pays me something like $28k a year. I saved basically every penny I earned over my entire working life.
>being 25 is more valuable than the $60k you lost
I feel like I'm just going to be a worthless shitter forever now stuck working crap jobs in this hellhole. At least 60% of my income goes to subsistence. I don't have any real qualifications and I have nothing to show for my four years of toil.
I bought various cryptos but no total meme shit like DOGE. Mostly LINK, ETH, and BTC. I leveraged though which is what wrecked me.
>Finally: you learn markets by losing money not by reading books or taking classes
This is how I try and cope but it's going to be years of waiting before I get another chance and I'm scared it either wont come or I'll fuck it up again.

>>49415746
This is all so tiresome. You probably wont even pay attention to this. Research pic related and best of luck.

When I was 19 I got 50k from my parents to invest into crypto. This was during the 2018 bear market and was my first foray into the market. I lost 40k of that quickly within a few months as the market crashed. I was so distressed at myself and wanted to kms every day but I learnt from it, found this board and bought LINK and made a bunch of other trades. In late 2021 I managed to peak at 1.7 million. I now only have 600k but I'm confident I am in a good position to make millions in the next market cycle. Keep at it, don't give up. Crypto is a wealth multiplier and honestly whether you get in during a bear/late bull or early bull market is the sole thing that determines if you 100x your portfolio or lose 99% of it

>>49415960
I’m sorry anon. But it will get better and you can make it back. Leverage was a mistake and is not for you, don’t touch it again. Accumulate assets gradually and diversify, don’t rely on crypto hype rallies and your future depending on your crypto portfolio. To repeat at 25 you have more options in life than you realise. People lose $80k on bad financial decisions like poor house purchases, vehicle finance, hideous lifestyle choices etc and they have liabilities like healthcare, kids, a mortgage. It could have been worse. you paid for a very expensive lesson in why you don’t gamble with money you won’t feel comfortable losing. Learn some less volatile, asset based investment strategies. If you hate your job think about applying for other positions or retraining.

>>49416089
back to square one of the benefits of capitalism - internalized costs

>>49415960
Did you get liquidated? Even so if you still have $20k left in those coins you will make it back next cycle. Being down over 60% is normal in crypto.

>>49416097
My ATH was about 2x, which I know isn't great by crypto standards but it's not bad, I just didn't take profits and then I bagheld all the way down like a retard throwing more money into the fire.
Training feels like staring down the barrel of a gun. I can't bare the thought of committing years going back to school even though I know on some level it would be a good decision. I can't keep doing what I am doing but I also fud myself out of everything and I'm plagued by depression that makes me think I'm too bad to do anything that isn't the lowest shittiest work.
I want to go into stocks as well as crypto but I'm so poor now I feel even more inclined to gamble on LINK at least hitting its ath again rather than building a safe portfolio of energy dividends or something.
>>49416089
I just hate myself for being so stupid. Why did I just accumulate cash when I knew my plan all along was to invest it? If I had DCAed I would be fine now. Thanks for the hopium though anon these are the stories I need right now.
>>49416165
That's years away who knows how long it will be. I would be in a better place if I did just get liquidated but I kept throwing money in and buying shit instead of paying off the debt like a colossal retard. I wasn't thinking and it all happened so fast. I can't escape it though it just haunts me constantly. I can't get a real job quickly; I can't work harder and make more money; I can't invest more now; I can't afford to do anything.
All I can do is wait and suffer.

>>49415746
Hope you weren’t leveraged and you’ll be alright
The first bear market always hurts the most
Reading your post made me smile, reminds me of myself in 18. Just step away for awhile and come back when you’re hungry to learn
Crypto will kill you if you live and die by market movements. Just zoom out when you lose faith and keep stacking BTC, ETH, and XMR during down trends
BNB is probably a safe play too

>>49416263
There are always reasons not to do the things you know you need to do. It’s strange how we can take huge risks with great sums of money but taking small risks in life with comparably little downside feel impossible. Imagine your perfect life and take small steps toward it even if it ends in a compromise. Wasting the prime years of your life torturing yourself into misery is a waste and makes things worse.
Okay, accumulate link over time and leave it alone. But also consider some assets which are low risk, potential high reward. My best investments ever were not stocks or crypto but learning the market fundamentals of collectibles and graded trading cards. I buy stuff for $100 and two years later it sells for $2500 or whatever. Low stress, low effort, no insane gambling on manipulated markets. There are opportunities like this out there that are unaffected by market cycles, money printing, and high leverage gambling.
Again the best way to make the losses feel insignificant is to improve your income over time.

>>49416402
Great advice
>>49416263
Picrel helped me relax and realize my goals

>>49416314
If I was just 18 I wouldn't care as much. Half of my twenties has gone down the toilet because of this. I was working a job I hated, surrounded by people I hate, saving every penny, only to throw it all away for nothing. It makes me feel old because I'm in the exact same place I was at 21.
>>49416402
Thanks anon. I just feel like I'm suffocating and I have no way out. I worked like a dog and have come out with nothing. I know most of the people I work with do that for their entire lives but all I've ever wanted is to escape. I don't even really want to be rich I just want a house somewhere and enough to get by working a job I don't absolutely despise.
I need to learn how to sell things. Even that seems impossible but that's just me fudding myself out of everything.

>>49415746
LOL

>>49415746
You could be at zero idiot. get off your ass and grind back. you have any income going to shitcoins?

>>49415746
Don't worry, inflation will take everything left away.

>>49416484
You’ll feel worse at 30 and worse again at 35 if you don’t make changes. If you are able to make your life less miserable arising from the pain of losing the $80k it will feel like money well spent on reflection. I had an empty bank account turning 28 turned things around in two years. But it required a change of mentality more than anything else. The past is gone, forget about crypto for now other than DCA accumulation of sensible projects.

>>49416501
What is even the point if I will be 40 before I have any real wealth? I'd rather just die than live another decade like my last five years

>>49416605
I have to have a career change. I don't think anything else will really help.

>>49416620
>What is even the point if I will be 40 before I have any real wealth?
You're a gigantic whining bitch.
The vast majority of people NEVER get to any real wealth at all. SOME get to a decent amount of money around retirement at 60. To be wealthy at 40 is considered great success by nearly everyone, and here you are at 25 years of age able to make it before 30 just moaning and complaining.

With that mindset you will never make it. Know that there is some 25 year old out there who currently has like 5 bucks to his name and will be way wealthier than anyone ITT in just a couple of years just because he isn't a moaning whining self-pity bitch. Either learn from your mistakes and apply or just continue crying about the past

>>49416620
40s going to come arouns fucking quickly. I wouldnt worry about being "too old" then.

>>49416620
You can either deteriorate for the next 15 years and hate yourself for giving up at 25 when you had so many options available to you, or you can look back age 40 grateful for the moment of realisation. Your choice

>>49416704
>The vast majority of people NEVER get to any real wealth at all.
Does anyone aspire to be like the vast majority of people? Obese, unhealthy, stupid, poor, generally worthless outside of maybe holding down an average job? What kind of standard is that? Yeah, I aspired exactly to not be like the vast majority of people I fucking hate the vast majority of people. I guess because someone can eek out a miserable existence working at McDonalds for fifty years anyone should be happy doing that.
It's literally a fate worse than death.

in 2017 i went from about 20k to 2k (my initial)
think i was lucky as that drop didn't muck me up as wasn't bad
but now that you're in a bear you have a great opportunity you want to research and read and read
many will give up and not come back
but you have to understand the tech and why it's important
some get a good job, start dcaing in and find what will do well next bull market
now is when you make the money, not in the bull
last cycle i went from 5k -> 950k with link and lpl
big drop now but i know everything about link, and know next cycle (or even sooner) i'll retire for good
in short, do the work

>>49416840
So what are you at now?

>>49415746
you're under 30 and I bet you made all that money within a 2-3 year span. You're capable of doing it again, in fact it's likely so don't be a bitch about it. what you should be beating yourself up about is taking profits, next time make a plan to take out 12 percent increments at predetermined intervals and don't deviate from the plan. greed will always get you.

>>49416797
You're right. There isn't really a choice. I would sooner kill myself than reconcile with the life I live now.
>>49416840
Thanks anon. I have to try. I don't even really know where to start, I know a little bit but not much and certainly not enough to really appraise projects.
>>49416895
>You're capable of doing it again
I can't - I live alone now. I could only save so much because my living expenses were almost zero.

>>49416938
maybe this is the kick in the ass you needed to stop focusing on amassing wealth by beating the shit out of your body, but rather working smarter.

you had 100k before, you'll have it again

>>49415746
I lost 60k NOBODY GIVES A FUCK STOP MAKING THESE POSTS. THESE ARE JUST FUCKING VAGUE BEGGING POSTS GO EARN YOUR SHIT BACK FAGGOT LIKE THE REST OF US

>>49417426
By the way I've seen you begging nearly every fucking day for over a year now, you make these shitty vague posts that try to get people to pay you then you mass report people who call you out for illegal in the US posts, so fucking sick of your greedy fucking ass you deserve nothing literally nothing and I hope you lose whatever you may have left.

>>49416865
1k

>>49415960
Damn, you make me feel better about my $100k unrealized loss from ATH.
As other anons said, diversify your folio. Don't play with money you can't afford to lose. Save up enough money for a safety net, then put money away in equities, PM and crypto as time goes on. Don't go balls deep in anything at once unless you're willing to lose it all.
You're 25 and have many investing years ahead of you. Try to find ways to increase your income and cut expenses.
Good luck man, don't gamble next time

>>49416865
about 200k
but i also took out about 100k in cash on way up
i think that's another key, do take profit at set levels
a 20x on initial is pretty nice
>>49416938
i knew fuck all as well at the start of 2018, i had bought lots of crap in 2017 bull
but if you read and are smart you will find promising stuff
the bear makes this stuff a lot easier too
you start to see what stuff is built on very shaky foundations

You're gonna have to get income. Ideally save up like 200k. Learn about investing and reducing risk etc. Then over time slowly try to make it back

You should invest in shib.

>>49417866
Yeah I wish I took a lot more I feel dumb as fuck and I'll never get the time back.

i went from 22k to 800k shorting btc from around 52k all the way down until the first dump to 26.7k. Didnt sold there so once i close my short i was in like 650k. I did take out 42k, that is in my bank account. But i lost almost everything longing and shorting because i thought i was a beast doing it. LOL. anyways i still have 60k + 42k that i already took out., but it still hunts me at night that i made it to 650k and didnt took more money out.

everyone will say if i had that much money i would have take out much more, yeah but if i wasnt a fucking gambler and took the risk that i took i would have never made it to 650k in the first place, so it is easy to say hard to do it once you are there, cause you will always think if i made it from 22k to 650k why can i not make it to 1.5M.

Anyways learned my lesson.

>>49420146
what did you invest in?
its the anger phase in the market now
as long as you didn't fuck around with bsc or something then you'll have some base to go from
remember that we're still very early on in web3. now is the time to regroup and get researching for the next wave
my advice would be to focus on eth and link first
they give you a good grounding

>>49415746
Losing money like this will shape you and hone your ability in the future. You'll sadly have this happen again someday. You'll save for two years and lose it all. AGAIN. But then, finally you'll be ready to 100x your net worth in one trade.