Yesterday there was a post that trended on Twitter with over 1.6M views. So the post was about a guy who made over $200k from crypto in 2024 and 2025 (the money was more).
Now, after making this money in a space of 2 years, he relocated to the UK, started University, and just after one year, he came out to make that yesterday post on Twitter saying he has gone back to zero and he was broke.
The post was a crowdfunding campaign, asking people to help him with about $22,000 to pay his school fees, else they would kick him out of school and terminate his student visa. Now, this guy actually had a circle of crypto bro who are very rich, so these guys could have easily helped him with the money, or perhaps they claim to be rich and weren't actually as rich.
Now, his crowdfunding attempt didn't work as well as he wanted, and this wasn't because the market wasn't flowing with money making opportunities, but because this guy had a very questionable past.
So he actually disrespected a lot of people back when he was rich and powerful, and I think it played a role in him not really getting the help he wanted, granted, 22k is a lot of money but he probably wouldn't have gotten a lot of people mocking him and laughing at him, while even his best friends and buddies neglected him.
However, we're not going to be focusing on that, instead I wanted to be looking at how someone who had close to $400k in "profit taken". Lost all the money in less than 2 years. While you might scream "ahhh" or something like that, I want you to know that if you've been here, familiar to crypto, then this isn't going to be strange. However, unlike a lot of crypto folks, this guy didn't lose money because he didn't take profit.
Most of the time, this is how a lot of folks in crypto who were profitable at some point (including me) lost money. People have lost one million dollars in profit, because they actually didn't take it, when the money was there.
However, the more different way to lose money which is mostly rare (like how it happened to this guy) is actually taking the profit but losing the money due to miscalculation, excessive spending and investing wrongly.
Now I actually don't know which is worse, not taking profit, or actually taking profit but losing it all because you upgraded your lifestyle and spent excessively while investing wrongly...
Which do you actually think guys?
In reality, I'm not going to actually say which is worse, because I believe I might be biased in my assessment (since I lose money not taking profit) instead I'll leave that to you to reply...
Instead let's focus on how crypto can actually be a blessing to your life while being a curse at the same time. This guy earned life-changing money, took profit, and actually went to the UK. He started going to a university where the yearly fee is about $22,000.
I think this was the first mistake. The fees weren't just huge, everything around him got expensive. From what I gathered, he was also living in an expensive city, and from the things I've seen, he also lived an expensive life. So imagine going from needing only $12k to live any luxury life you wanted, in a year to needing 40 to $50k for a year.
Look at the massive increase upgrade in lifestyle. This wasn't all. He made some crazy and big investments moves which should be close to $100k, which probably resulted to crazy losses, and this wasn't just all.
We haven't even factored out other places he spent money recklessly, because looking at him alone shows that he's quite the reckless spender, and he may also also spent a lot of money on some guilty pleasures that no one probably knows about.
All in all, his biggest mistake was improving his lifestyle by over 500% while not putting money into ventures that could earn him sustainable income.
Well he tried doing it by putting more money into other crypto ventures, but if there's honestly one thing I've learned in crypto, it's the fact that profit taken from crypto will only truly compound when you put it into real life investments that will 100% be more valuable years later after you've bought them. Like, lands, precious metals like gold, real estate and all that.
Crypto can ruin you...
However, this guy is what? 24, 25? and he reached his psychological courage of someone who has made up to $400k in crypto profit, got too comfortable and failed to realize something harsh about crypto: it can ruin you, just as it can equally make you rich.
With crypto anyone can go back to zero, and honestly every crypto bro who once made made has gone back to zero, well may not zero for everyone, but a point close to zero, because, and that's because of mistakes like this.
For this guy it would be crazy because him going back to zero wasn't because he didn't take profit, imagine doing so because you were reckless. It's a lesson to everyone who is in crypto, this industry can ruin you, just as it can make it.
Failure is an opportunity to learn an expensive lesson if you can afford it and are capable to listen and avoid it in the future. What I learned from such failures (I think it happened to 99% from us), is to take profit and that invest in something much stable than crypto and even stocks. If you have some big plans ahead, but the money needed for that aside and ... invest what you can afford to lose.
Yeah, you're 100% right, I think one way or the other, I think it happens to many people in crypto, in fact it happens to a lot more people in crypto, more than we even know. Although the lesson is always painful and hard, especially when people don't get the opportunity to actually bounce back again
It's always a lifestyle mistake, and this reminds me of how lottery winners ended up. Most of them lost all their money, and the people around them hounded them for money. That is especially true since he probably made it public that he had money.
Yeah he had that money, actually he didn't spend the money with anyone, just himself though and some of the lifestyle mistakes he made without double-checking the consequences of any financial actions. I think it's an entirely different thing from not taking profit, although I could be wrong
Hi their after along time , I see your on hive, i was thinking you are gone.
🌟 Your post has been curated by Ecency. Keep creating! 💙
Thanks for the curation. No, I've always been on Hive, if you check my posting history, you'll see I've always been active.
Uncontrolled greed and emotion destroy way more portfolios in this space than bad projects ever will. People treat crypto like a casino without any risk management, then get shocked when a market turn wipes them out,,,,,,
With this guy, it wasn't his inability to take profit, if was his own person financial decisions, after taking profit.
In past cycles I've made fortunes and lost fortunes. Crypto is a hard way to make an easy living.
You're correct, people make fortune and lose it, but most of the time, it's mostly because they didn't take profit and not because they casually lost it..
Very true, brother! Crypto markets fluctuate so much, and hearing that guy's story is really shocking