So, some of you may remember how a couple years back on Steem, awesome me came up with the Seven Day Beer challenge, which lasted for months and months, if not years, and got hundreds of people involved!
These days though I am very involved with the LEO community here on Hive, so I figured to come up with something similar. And today's post is the result of me trying to come up with something cool for 1 whole minute.
The purpose of the challenge is to get as many people possible involved, share some of our most shitty investments and hopefully have some lulz at the misery of others. So, if you want to learn more about this challenge and/or participate just scroll down at the end of the post!
But now, let's begin with what probably is my most shitty investment ever...
XEL
XEL is a crypto that was shilled to me by a whale that generally shares top notch advice and has helped a lot in building my crypto wealth. He told me this coin is going to pump soon and to buy some. I believe it was mid 2018 when pretty much everything had started to dump. And it did pump the next day by a whooping 30 % or something. And I should have sold, take my profit and never care again.
But you see, XEL was a really cool and innovative project:
Xel has been developed over the last year or so and provides the infrastructure for a decentralized and distributed super computer, designed to carry out arbitrary tasks over the internet. In this context, xel is powered by a crypto currency (XEL) and provides a market-based mechanism to buy and sell computational resources.
And the product already worked. All it needed was some coders to get things rolling. However, the main dev who knew how to code in the native programming language of XEL had disappeared. XEL was a true beast, but no one knew how to master it...
Anyways, after a few days the price started to slowly go down. But I loved the project so I bought some coins every day... And the price continued to go down...And i bought some more..And the price continued to go down... And I bought some more...
At this point, I was too emotionally attached and I knew the project was going nowhere. No dev, no coders, small community... But wishful thinking pushed me to buy more and more as the price continued to plummet. This went on for 3 months or something. Eventually, I woke up, sold my bag and rebought it later at half the price just in case. Still, I was at a major loss, and probably lost around 1-2 k $ in total. As you can see at CMC, the price of XEL now stands at 32 sats and the project is pretty much ded...
However, XEL taught me something really important. First, don't get too emotionally attached to my investments. Second, learn when the time to take a loss has come and exit. Others have paid a much steeper price for the same lesson! So, there, at least I learnt something!
So, that's for today's shitty investment!
These are the rules you need to keep in mind
- You have to share at least one shitty investment you have made in your life. One per post. There is no limit, share as many as you like. The more you share, the more we will laugh at your expense. WIN - WIN.
- An investment can be anything. Yeah, usually we think of stocks or crypto or financial products when thinking of investments. But we make investments, small or big, almost everyday. For example, it can be something like an expensive gym equipment you bought to get fit but never used ;)
- Since this is a financial related challenge, please use https://leofinance.io to publish your post(s). Remember, this will help you get more HIVE and LEO votes. Who doesn't want more free money?
- Nominate up to 3 people to participate in every of your posts
- If you are a social outcast with no friends to invite you, just join the fun without an invitation
- Use the tag "#shittyinvestments" as one of your tags for easy exposure!
- Optional: Share your posts on twitter and the leofinance subreddit to help leo, and consequently HIVE grow!
- Feel free to use my original photo for your thumbnail :)
Since this is my challenge and I do as I please, I will break rule 4 and invite more than three people to get things rollings. So, in today's post I challenge @khaleelkazi, @katerinaramm, @enforcer48, @belemo and @nikosnitza to share some of their shitty investments!
Posted Using LeoFinance
I have a bag of XEL because of you.
Hahahahaha. Loser
Lesson learned :)
Judging by cmc, maybe we will soon have worthless bags of hive too 😂😂😂😂😂😂
hive has a functioning ecosystem and tech that we are all using daily...
tweetposh
redditposh
Posted Using LeoFinance
You shit money? I knew it.
So this challenge is to write about ALL my investments. Okay. Let's do it
lol
Posted Using LeoFinance
Thanks. I was thinking about what to write for the weekend. Might take a bit.
You are most welcome !
Χαχα καλή ιδέα...
Και έχω κάνει μία επένδυση 100% καταστροφή...
🤣
Posted Using LeoFinance
Not challenging me made me very emotional.
Jokes aside , The horrible aurora cannabis stock and the whole medical cannabis has been my worst decision ever.
Of course at a loss as we speak but will be holding forever until I either make my money back or lose it all.
Also, I bought Tesla when it was less than one fourth of today's price and sold it because it was "too risky"...
If you still profited its a good investment ;)
Pretty good challenge, I'm making my shitty investment post today, and maybe 2, one in crypto and the other one in the traditional market lol
Hi,
No post, but I will share your proposal, here and on Twitter :) And I will share one terrible investment I made that pretty much fits your XEL experience. Except I was definitely fleeced. Company, Decode Genetics. I invested at least 1K (do I remember how much?) and ended up with $0. Company declared bankruptcy. It seems some original investors made money and the company today is thriving.
One reason I don't get involved in investments...I'm an easy mark :))
lol. Hopefully, you had more good investments then bad ones :D
No comment :))
I will definitely join the challenge too. Very soon. It really a shitty challenge. Greetings my friend @trumpman. How have you been sir?
I am good! Let me know when you do :D
Okay. I will. Thanks so much
I challenge people to beat a 99.4% loss
https://leofinance.io/hive-167922/@revisesociology/my-shitty-investments-challenge-igas-99-4-down
Posted Using LeoFinance
lol
I wrote a post few days ago about a shit investment and was about to launch this challenge so i guess i wont and can participate in yours
Do you think the tags can be changed or should i do a quick post for entering ?
I cannot just make 100 posts for shitty investments 😆
I keep it to cryptos in one post
https://peakd.com/hive-167922/@opidia/my-shitty-investment-challenge
We know you dont care about your awful investments because you found the pearl
YOUR WIFE !
His initiative was very good and there was no better image to illustrate our experiences lol.
Posted Using LeoFinance
this is a genius challenge, i made a video about it and posted it on twitter:
Is this challenge still on, I will like to bring in my entry.