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/biz/ - Business & Finance

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7243203 No.7243203 [Reply] [Original]

>be me ~2-3 months ago
>finally get a job after 6 months of searching
>it's not much (retail), but it pays the bills

>fast forward to ~3 weeks ago
>get fired because "sorry, Anon, we just don't think you're a good fit with our team"
>get desperate, need a new source of income fast
>dump my entire life savings (about $2k) into bitcoin at $15k
>it crashes the next day
>continue to hold, figure maybe it will go back up soon
>it crashes again
>and again
>and again

I can't take it anymore, /biz/... I'm already 3 days behind on rent and I can't stand to see my money keep dropping. I'm selling everything right now before it drops even further. I should have known better than to get involved with this glorified ponzi scheme...

>> No.7243262

You dint lose if you dont sell. You played yourself 35 years from now bitcoin will be 15k again

>> No.7243265

If you ever feel down, consider a using a rope. Hope it helps

>> No.7243330

>>7243203
That’s why you only invest money you can afford to lose

Last year when China banned crypto exchanges BTC plummeted, then Russia also looked like they were going to ban btc and it looked like a domino effect I was down more than 50% of my original investment, but it was money I could afford to lose so I decided to let it go down all the way to 0 because I believed in crypto.
4 months later btc was steadily rising towards 20k.
Only invest what u can afford to lose or u will always sell low.

>> No.7243360

>>7243203
just become a hooker

>> No.7243366

>>7243203
>buy high sell low

thought this was just a meme

>> No.7243402

>>7243330
I just wanted some easy gains... everybody on here was talking about how easy it was to make money with crypto
>>7243360
I'd unironically consider this, if I weren't an unattractive man

>> No.7243431

BTC is the definition of a highly volatile commodity. I'm sorry that happened but damn man. It's value isn't tied to anything the same way legal tinder is.

>> No.7243470

1. take out a large loan, at least 50K, get a co-signer if necessary
2. put 10K into ETH 10K into NEO
3. live off the remaining 30K for as long as possible, meanwhile look for a job too
4. when that 20K reaches 40K, take out 10K and put 5K into two LEGITIMATE coins with the most 10x potential, don't fall for pnd shitcoins, dyor
5. hold and try to at least 3-5x on those coins before selling
6. whenever you sell, stash most of your money in ETH or NEO
5. whenever you need fiat, take out a few K to live off of.
6. when you reach 150-200K, take out your initial loan.
7. at this point you are playing with house money. keep 80 percent of your gains in either ETH/NEO or some other bluechip coin. use the remaining 20 percent to chase 10x's.

>> No.7243656

>>7243470
How long do you think this will take? What if it never goes back up?

I don't want to exit with a loss but that just sounds way too risky... how does anyone know any of this shit will go up in the future? It's all gambling.

I guess I learned my lesson. Maybe I'll re-invest when I get another job but I'm out for now.

Good luck with the moon missions, guys.... hope you find better success than I did.

>> No.7243678

>>7243402
It was easy when literally every shitcoin and its fork was mooning 40x for no reason. It doesn't take a trading genius to figure out that the bubble was peaking.

>> No.7244049

>>7243678
Everybody seemed to be confident that it was going to go up at the time. I guess I should do more research in the future...

Just sold. I lost a good $800 but it feels good not to be in this game anymore, at least for now. Guess I should start looking for another job now.

Does anyone else have similar stories like this? I can't be alone here, right?

>> No.7244096

>>7244049

>sold at a loss

Not going to make it. Unless you buy back in when it goes even lower.

>> No.7244485

>>7243470
Just lost his job...you say "take out a large loan". I..I don't understand.

OP - Go get another job. Play it safe for a few months until you get your feet under you. Sell what you have in crypto and pay your rent.

Why did you get yourself in these shoes? Build up a cash cushion. 3 months that you dont touch. Be careful, friend.