With the pricing down on the market, I felt the need to tell this story. It's a story we hear all too often , but history always has a way of repeating itself. I'm talking about spending what you're willing to lose. Everything you read in this article is based off real events in my life, with only names changed.
During the great boom we saw last year, I finally felt the need to tell strangers about crypto currency. Usually, i would only talk to people online, or tell my select friends. My real life friend ,Walt(real name), would always ask me for help about what to purchase. I never steered him wrong, and told him to go with the bigger guys in crypto and invest into btc, eth, ltc, etc. He was having good luck, so he started to tell his friends about me. One day I received a phone call from a man we will call "Dave". He runs a MMA dojo in the suburbs, and business is doing well. He wanted to invest 20k into ltc. Before i walked him through the steps of how to buy, I HIGHLY advised him to reconsider, as with all investments you never put all your eggs in one basket. Told him to think about only doing 1/10th of the amount. He brushed me off saying, "sure , sure". This was back in December, and I thought he took my advise...... See where this story is going?
Fast forward to current day, market is down MAJORLY. I received a phone from a certain someone..... guess who it was, DAVE. Clearly hes very upset and EXTREMELY pissed at me. Saying I "made him invest." Clearly I told him this was not the case, as I WARNED HIM NOT TO DO IT. At this point, hes screaming at me, threatening to kill me and my family over his misfortune. At that point, I hung up. He continued to blow up my phone multiple times at day leaving leaving threatening voicemails. At this point I called Walt and told him not to tell him where I lived. I then proceeded to change my phone number along with filing a police report handing my voicemails over. I haven't heard from him since.
Why am I telling you this? To warn you to only invest WHAT YOURE WILLING TO LOSE. Had Dave listened to me, worse case he would've only been out 2000$. Instead, he spends his free trying to hunt me down. For the love of God , invest slowly. Buy little by little over time. Like weekly or bi weekly.
Don't be Dave, invest wisely. Hopefully this will be the last time I have to write about this. Otherwise, there might be a follow up of this article in the future.... I've I'm still alive.
Thanks for reading! Feel free to comment below.
I rarely see the "dark side" of crypto exposed that way. It was a good read 😉
About Dave:
He's dumb.
What's your opinion?
Thanks for reading ! And yea, sadly i agree with you on every point you mentioned. Hes a tool. Not to mention the fact him being trained in MMA makes a dangerous combination. I wouldn't be surprised if he becomes another war machine. ( To those who don't know who he is, he beat up his ex porn star gf to near death and is facing a life sentence.)
I would add to it and say only invest what you can survive losing. Go ahead and mortgage the house - if you can land on your feet when the bank forecloses.
People get sucked into the dream of quick riches with no effort. But those that made big bucks in crypto without any effort got lucky. Most of us in this space are working our butts off.
Absolutely.
There is too much people hoping to get real sums of money by "investing" 50-100$.
Wow. I had people at work ask me if I heard about bitcoin, because they wanted to invest some money into crypto. I always tell them to only invest what you can lose and still be ok - max 10% of your cash.
It is amazing to me that some people enter cryptocurrency with such a short term outlook - there have been many, many periods in the past where a cryptocurrency investment would decline by 70%+ over a few months, only to reach new highs within a couple of years. In a traditional investment, even 5 years is a relatively short timeframe....in crypto, a 5 year timeframe has always been profitable.
People are always looking to blame others, no one wants to take responsibility, this is the case in society with regards to a number of issues. People always looking to blame the government. The reality is, if you are a winner you will win regardless of all the BS.
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