Crypto Mistakes

[Anonymous No.57015358]

What are your biggest (most costly) mistakes you've made in crypto?
"I didn't buy x when it was at y price" doesn't count, I mean what did you *literally* lose tons of money on?

Me:
>Look into Helium
>"Hmmm, 'people's network' that sounds pretty good and it's still early"
>buy $700 Helium miner
>chip shortages hit
>takes an eternity to get delivered
>By then everything crashes and everyone and their grandma have already installed a miner
>FFWd more than two years
>managed to make a total of $100 in Helium shitcoins
>unplug device and throw it in the recycling bin

[Anonymous No.57015367]

Leverage

[Anonymous No.57015398]

2/2

>Look at Terra Luna
>"hmmm, this looks great on paper and at $20 I'm still early"
>buy $800 worth of LUNA
>soon the price skyrockets and I'm up thousands of dollars
>"wow this was the best investment I have EVER made in my entire life!"
>the next day LUNA is worth $0

>>57015367
How much bro?

[Anonymous No.57015402]

>>57015358
Made a killing on DEFI shitcoins in 2020, but didn't sell and they dumped hard as fuck. I should have sold them back into BTC or ETH. If I did that I could have retired with millions in 2021. Now I'm working a shit 9-5 wagie job and stuck in 6 figure hell

[Anonymous No.57015406]

i lost money in 2019 just throwing my whole stack at shitcoins over and over

i lost money a couple of years later apeing into that wonderland ponzi shit

it was a bit over $10000 total in losses but i've learned my lessons so i'm not too salty about it anymore

[Anonymous No.57015452]

>>57015358
I was paying $4000 a month toward my student loans in 2016 and 2017. If I had put that in BTC and/or ETH instead, I could have been retired by 2018.

[Anonymous No.57015478]

>>57015358
>bought BTC, ETH, DASH in 2016.
>watched as the single DASH masternode I had went to over $1m
>rotated all my ETH and DASH to BTC due to tether FUD.
>proceed to lose 85% of stack in babys 1st bear market hodling BTC like a noob.
>get spooked into DAI by the 2020 habbenig and lose even more.
>SVB almost takes down USDC and therefore DAI with it, lose like 15% more panic selling into tether.
After having now endured clown world to the max I can only laugh my ass off at having lost ungodly amounts of cryptobux. The bright side is though at least I never bought Link through it all.

[Anonymous No.57015481]

>>57015358
I got tipped off on ftx collapsing and I didn't short.

[Anonymous No.57015669]

>>57015358
Fumbled 1M in an OHM fork. Didn't sell because the initial investment rose so fast and stayed steady for a few weeks before the whole market caked its pants.

At the time, I had 1M in ETH and BTC, so it just felt like icing on the cake. Ended up taking a huge loss on that position, but sold enough assets to still stay a millionaire after taxes. This year I had some big wins - but nothing that puts me close to my previous ATH. I guess I am content not reaching that # for awhile, but trying to mentally get back to where I was has been unhelpful.

[Anonymous No.57015971]

multivac

fuck all of you

[Anonymous No.57016034]

>be 15, parents won't let you put your savings in btc and you have no bank account on your own name
>had 20mil in $dag at peak but sold early
>had 10mil in $ksm at peak but sold early
>had 5mil in $ftm at peak but sold early

I sell early.

[Anonymous No.57016040]

>>57016034
Oh yeah my first bull run I had 500k of verge at the peak and I sold early too.

[Anonymous No.57016043]

>>57016034
Like very early. I'm not subtle bragging, it's more of a look how much I fucked up and what could have been.

[Anonymous No.57016048]

>>57016034
By any chance could you tell me what coins you have right now anon?

[Anonymous No.57016060]

>>57015358
I bought Litecoin at the 2021 top. I haven't sold any yet. Sooner or later I need to realize the loss.

[Anonymous No.57016084]

Sold all my xrp

[Anonymous No.57016101]

>>57015358
I started mining bitcoin in 2010 or 2011 (gpu mining in early pools) after hearing about it on /g/ but thought it was retarded and never ran the mining software again since it interfered with me playing WoW

[Anonymous No.57016276]

>>57015358
I signed up for that Helium Mobile 5 months ago, and I've made $600 somehow

[Anonymous No.57016300]

>be 2021
>buy this shitcoin chiba
>it is a rug pull
>keep making new threads and posts on /biz/ shilling it til I break even
>sell my bags for a tiny profit, say enjoy the bags faggots and dip
>coin rugged to 0 after that
>pic related
never believe any thread on /biz/, everything is a pump and dump or rugpull

[Anonymous No.57016302]

>lol it's not double top we are going to 100k
me at last bull's peak. proceeded to baghold until 20k where I sold.

[Anonymous No.57016357]

I bought and bagheld xrp (I am still bagholding)

[Anonymous No.57016664]

LGCY network, which was shilled here by jeets. Waste of money.

[Anonymous No.57016690]

>>57015358
My only mistake was selling LINK at 50 cents in 2019. If I held another year I would have sold it at 8x, if I held it for two years it would even be around 100x.
I had some decent money in it at the time. I just thought 50 cents is all it could manage. I thought crypto wouldn't recover.
Well, this time I actually have a plan and I also bought during the bear market instead of selling in it.

[Anonymous No.57017036]

>>57015358

>>57015358

Lost $300 on a scam called candela. Could have sold at $1000 but I didn't, then it rugged.

[Anonymous No.57017053]

>>57016060

Litecoin bros...

[Anonymous No.57017102]

>>57015358
I sold 15 billion shib for like $400 because I thought it wasn't going anywhere
I still think of what could have been

[Anonymous No.57017154]

>>57015358
buying litecoin, biggest mistake of my life not just in crypto

[Anonymous No.57017167]

>>57015358
Losing money by panic selling and buying the top.

[Anonymous No.57017293]

>>57015358
>Transform 1k into 100k in a week - wanted more

>>Lose it all not knowing when to stop

[Anonymous No.57017411]

>>57015358
Threw $150 from my uni airdrop at ersdl, watch it ride to $300K(face melting pump), didn't take profit.
Howie had me so much wowie, I averaged as the price was crashing. I put additional 25K(that I had in ftm, and sold it at $1). Completely rugged, lessons learned, never fall in love with your bag, or put all your eggs in 1 basket.

[Anonymous No.57017423]

>>57015358
Also a bit of advise, always have a price target where you take at least half of the table and let other half ride.

[Anonymous No.57017644]

>>57015358
That time I made some noob guy on telegram a millionaire and missed out on my own advice

[Anonymous No.57017691]

>>57015358
bought cult because i was a tard who fell for the mrfags larp and lost 100k on it

[Anonymous No.57017695]

>>57015358
- Brother it's called crypto yeah, it's going to change the world, bro.
- Nation states can't control it, it can't be manipulated, it's your freedom, bro.
- it's the perfect store of value, bro, it's a hedge against inflation, trust me on this one, okay.
- Brother this is a once in a century event, maybe rarer, it's a total reform of the global economic system, it's like the real estate boom x1000, bro.
- No nation state can stop it, when the collapse comes the USA will balkanize, and people will sell their souls to get a satoshi in return, brother.
- Let me tell you about alt-coins, brother.
- It's p2p digital gold which means peer to peer, did you know it brother?
- Tokenized master books, unbreakable encryption, totally secure.
- Yes brother, there are a lot of non-digital currency uses, that's what alt-coins are about.
- Everyone needs to be monetized, don't ask me why brother, I buy them you should too!
- Everything will be tokenized bro, it's not just a database.
- When everything is tokenized everything will be monetized brother.

[Anonymous No.57017723]

>>57015358
I bought link at 16 cents, baka my head I'm so stupid I'm not going to make it senpai

[Anonymous No.57017827]

>>57015358
>Made a ppt presentation about Bitcoin back in school in 2013
>Didn't convince my parents to buy me a piece of Bitcoin in 2014
>Dropped out of high school in 2015. Didn't get a side job to DCA crypto
>Finished high school in 2016, failed to get into college and I'm now a NEET
>2017-2018 did absolutely nothing with my life, finally got into college
>2019 started wagecucking, didn't use my measly savings for crypto either
>2020 finally got a SWE job, started getting into crypto in late December, was happy when I bought dot for $200 and it 1.5x'd in less than 2 weeks
>2021 started buying more shitcoins instead of focusing in accumulating BTC, ETH or Monero.
>Mid 2021 I got burned badly and lost almost everything.
>late 2021 decided to go into degen gambling, buying the first shit that popped up in dextools in hopes to break even (emotional trading)
>December 2021 at this point having burned myself to a crisp, decide to do degenerate yield farming with less than $2k, got wrecked again
>Mid 2022 one final try I decide to do degenerate leverage on GNS. First weeks I didn't do that bad but then I got sharted and raped. Now I did lose almost everything
>Decided to fuck off and move on while focusing on actually having savings since I was going to lose my job by early 2023

>Actually got a better paying job this year, starting saving a fuck ton of money, I now have $22k in savings account
>Returned to crypto by buying a hardware wallet. Surprised that I haven't lost everything, I currently have like $3k in crypto
>Have another $3k in liquid cash so in total $30k

And here I am. Still poor but at least not that poor. Looking to buy BTC & more XMR, and a smaller fraction in emerging L1s and DEX tokens because I don't know what's to come in this next cycle.

[Anonymous No.57018231]

>>57015358
not selling everything in January 2018

[Anonymous No.57018237]

>>57017695
I don't get it

[Anonymous No.57018323]

i mined about 20k DOGE in 2014 before the algo changed.
gave up because i thought it was going to be a meme to troll BTC.
formatted the disk containing the wallet.

in 2018 with better hardware, I mined ZEC instead of XMR.
XMR was the right choice.
also formatted the drive with the ZEC wallet.

gave up entirely on mining because of electricity prices increasing.
still check in on it a few times per year, but will probably never mine crypto again. feels bad anon.

[Anonymous No.57018366]

>>57015358
Had a max leveraged position on binance for $SIA for many months last bullrun
Turned like $5k into $35k+
Found I could access more leverage on gate
Transferred immediately and max 3x re-leveraged at the top and lost almost every single bit of profit.

[Anonymous No.57018384]

>>57018366
(in one day)

[Anonymous No.57018681]

>>57015406
what's the lesson

[Anonymous No.57018707]

>>57015358
Sdog.
I'll say no more.

[Anonymous No.57018743]

>>57018366
a common story with leverage trading really. When I first started leverage trading (last year September) I turned $1200 into $12,000 in a month. Lost it all in a long that day FTX collapsed and BTC dumped to $15k.

[Anonymous No.57018763]

Made the same mistake not once but THREE times. I'm not in the purgatory trying to survive but it seems that there is no escape for me this time. The first two times I managed to get help but now nobody will help me. Don't. Fuck. With. Leverage.

[Anonymous No.57018790]

Reef, UST farming

[Anonymous No.57018803]

>>57018763
You are better off living your life and saving fiat while waiting for a 100% sure bet and buying x1, never use leverage. Even x2 is way too fucking much. You got double the chances to lose everything

[Anonymous No.57018845]

>>57015358
I bought a coin called waifu.

That in itself is a mistake, but I ended up buying the wrong waifu

[Anonymous No.57018879]

I bought 33 btc in 2013 to buy weed on the Silk Road, thinking it was just digital money with no value whatsoever, oh boy If only I knew…

[Anonymous No.57018900]

>>57018803
leverage trading really was a nightmare for me. sometimes I'd get in bad positions and I literally could not go to sleep, I'd just lay down with one eye open watching my position hoping to not get liquidated, it could go on for a long time. it's awful

[Anonymous No.57018907]

>>57016043

Holy shit lol. You know there is an old wall street quote, "I've made a living out of selling too early". You Def need to learn to keep a moonbag but could be worse.

[Anonymous No.57018965]

>>57018900
Kek, that's how I got older by 10 years in 2 months. Never doing that again fuck it.

[Anonymous No.57019023]

>>57018803
I think my Id got changed due to WiFi but bros, please tell me that I need to get off my ass so I can fix my life

[Anonymous No.57019036]

>>57015358
Lol I had some coworkers that all bought thousands of dollars of helium miners.

[Anonymous No.57019058]

>>57015481
Shorting is pretty gay. You're limited to 100% as gains plus it's extremely volatile. Not as exciting as you would think.

[Anonymous No.57019168]

>>57015398
What's more pathetic: that you held all the way down when it was literally a certainty it would go to $0, or that turning $800 in $4k is the best investment you have EVER made in your life.

[Anonymous No.57019173]

>>57015358
I was part of a team that hustled a crypto here on biz and twitter and pumped it real high....I was a millionaire and started transitioning and gender-affirming surgery, I was on top of the world and partied hard, which ended up giving me severe and untreatable colon and rectal trauma, but that was not the worst....without us in the team knowing it, the JP Morgan Jews that run the whole scheme, started dumping on us all, and the price crashed...I was on welfare and now the tax department know about my crypto, after I bragged about it to friends while drunk and one jealous femboi bitch that I gave STD reported me to the tax dep as some kind of revenge. I was taken to court and soon the police will come and confiscate my things and several ppl in our team have roped.....

[Anonymous No.57019182]

>>57018681
The lesson is he's a retard with no concept or risk management

[Anonymous No.57019215]

>>57015452
Couldn't predict the future though. Paying down debt is very much real and in the present. You made the right decision no matter what you think (assuming you're SL debt free now). I did the same and don't regret it for a second. There are plenty more opportunities to get rich.

[Anonymous No.57019251]

>>57016300
lmao this sounds like what happened with bonk

[Anonymous No.57019278]

>>57015358
Lost 100k buying back Index Coop (INDEX). Seemed super low at $2-3, but I didn't realize all the competent members of the team had abandoned the project.

My portfolio tracker says I lost $334k on Inverse too, must've bought the high.

[Anonymous No.57019352]

>>57019173
I laughed, anon.
>>57015358
I have a set amount I put into crypto each month. This past august I bought into the hype of a lot of shitty coins and went way over that alotment, fast forward 2 weeks after making like $10k all of my coins rugged and that bag is now worth like $200.
Never again.

[Anonymous No.57019367]

>had two XSN masternodes
they're still going and still scamming people lol

[Anonymous No.57019384]

Bought GRT at the top using money from the shittiest job I've ever had to work. I averaged down to 30c each, but I'm still down thousands of dollars.

[Anonymous No.57019422]

I bought $5000 of ETH when coinbase first added it in December 2016. I should have had at least 1000 ETH, I currently have around 7

[Anonymous No.57019446]

>>57019422
what happened? altcoins?

[Anonymous No.57019464]

You maniacs need to stop holding for the extra 50% when it already moved 600%.

[Anonymous No.57019470]

>>57015358
Not buying shiba, doge, pancake, and the million other shit coins that did 100x and instead bought Link.

[Anonymous No.57019496]

>>57018681
Don't gamble on shit coins and don't try and time the market. A tale as old as time.

[Anonymous No.57019554]

>>57019464
This is the real truth. At least take like 50% profit and let the rest ride.

[Anonymous No.57020717]

>>57015358
sold at 15k
I have to go back to XOR to get it all back, again