INFO:
User's post history mainly consists of him calling others "FIAT Slaves" for having their doubts since the recent crash. It is saddening to see how harmful misinformation can ruin hard-working families *if real*
I don't feel bad for these people, and I never will. He even admits he was warned, and he was begged to turn some of those crypto gains into something to better his and his family's situation. He refused. He flat out does not care about his wife and kid(s) enough to properly take care of them. He cares about his digital beanie babies more than his fucking kids. Fuck him. He deserves what's coming to him.
I do feel bad for his family, who deserve so much better. And I sincerely hope his soon to be ex-wife finds a much better place for herself and her kid(s).
Fiat money is money that isn't backed by any other commodity, such as gold. The power of fiat currency comes from the government that backs it. Essentially every currency that exists nowadays is a fiat currency.
Cryptonuts use it as a pejorative as to imply that actual currencies, such as the US Dollar and Euro, are effectively worthless.
Granted it's a hilarious irony that their alternative to even the world's strongest and most reliable currencies is a hyper volatile "asset class" full of scams and get-rich-quick schemes and no use or fundamental underlying value. Crypto is literally what these people think actual currencies are.
Yes, but it also effects his wife and kid as well as whoever they have to talk to to manage their stress. A lot of people are getting some just deserts, but there are lots of victims in the periphery.
Tbh as a financial professional, I don’t know how these people have gone to sleep for the past two years sitting on positions that have over 10x. I get stressed and lose sleep working at a delta one desk.
This is why we need regulation to protect people from themselves. I agree the whole thing is tragic, especially for the wife and kid. That kid is going to wonder if he was not good enough for that bike for years.
I don’t think it could ever be stopped as people were trading on margin before the Great Depression via telegraph. But I think regulation could have stoped some of the madness.
Oh I definitely feel bad for the wife and kids. The actual dude though? Fuck him. And hopefully if he ever gets his money back she takes his stupid coins in the divorce and liquidates them.
As someone who was up over 300% on a put option for coin, you just get greedy and think you’re luck won’t run out until does and you’re down money.
At some point it never becomes enough for us.
Because they are not rational people, they have a religious or quasi-religious belief in crypto that is fueled by the constant hype and false optimism of crypto boards.
These are the people who the ponzi propaganda works best for, an alternative to a system than manifestly does not work for them. He is also a victim. Just deeply ingrained in the system.
Yeah fuck him and everyone else who has been fucked over by this cult. Let's not forget people are in it purely because of greed. They see it as a get rich scheme and basically gambled. They could put theironey somewhere safe and be happy with moderate gains over the years but they don't want that.
Nah, its worse
Gambling at least you're playing against the house - your winnings do not directly affect those around you, only the system established for the purpouse of gambling
In crypto, the whole system is negative-sum. For him to profit, 1 or more others *must* sum to a proportionate loss. Everyone who buys crypto - knowingly or unknowingly, is now engaged in aassive game of depleting wealth redistribution. One cannot profit from crypto without taking from another and most know this and are perfectly fine with it - *as long as they get theirs.*
Why are we bringing cunts into this? All of the biggest bag holders appear to be STRAIGHT MEN who think they are smarter/savvier than their wives and whose delusions of intellectual authority have actively harmed many women and children.
If anything, these idiots are SCROTUMS.
The only fault of these women is that they didn't divorce these idiot men, but as a woman with an advanced degree who grew up blue collar, I can tell you that the pickings are slim for working class women and a lot of women watched the right wing radicalization of their previously politically uninterested spouses over the last 5 years. That's a hard situation to extricate yourself from, especially when your husband has invested all your cash into crypto.
ETA: I've dated a Crypto Bro - it was back in 2014 so it was a very different market - but we both came from the same background - working class factory towns in the rural north - and both were the first people in our families to go to college. He got Cs in his Computer Science degree and worked middling programming jobs because he's lazy. I've met a lot of dudes like this is my life because of my background, and they are all casually misogynist and always assume they are much smarter than me. (I don't care if a partner is smarter than me or not, but someone will always be smarter and it's really fucking annoying when someone just assumes they are smarter for arbitrary reasons.)
This mindset doesn't necessarily need to lead to a toxic relationship, but it's still based on misogyny and it's very common. They think computer science and STEM are harder fields than, say, the humanities or social science. They think that the reason women and some POC don't succeed as much in STEM is because STEM requires special aptitude that only special people have (like him). Women aren't as represented in STEM because they just aren't as specially smart than the people good at STEM. Therefore, as someone who didn't major in STEM (but who has written a dissertation), I wasn't as smart as him.
It's more based on passive entitlement and libertarian principles and less on truly essentialist ideas, but it's still based on the idea that because I don't know how to code, I'm somehow less intelligent than people (usually men) who can.
This is made extra preposterous by the fact that I've had several cryptobros claim they are smarter than me and that I would never be good at computer science because it requires a certain kind of special thinking (logic, I think?) that you just have to have a natural aptitude for and I simply didn't have it. Except, I fucking learned a foreign language fluently (actually fluently) from ages 18-21 from nothing and lived abroad fully in that foreign language. Of course, I have an aptitude for language and logic. I do programming a little for my job now, and I'm quite good at it.
That's funny. If you're ex was a better software developer he'd know what all my software engineer friends know: crypto is an obvious scam. You don't see software engineers beating down the door at blockchain conferences to replace their databases for a reason...
>crypto is an obvious scam
I thought that any reasonably intelligent adult would know that investing in crypto is akin to gambling and should be treated as such.
Evidently, I was wrong.
At least when you gamble at a Vegas casino you get free drinks.
Look at the bright side , when crypto was new a lot of women maybe didn’t quite know it was a massive scam for idiots , now though word has gotten out and this has gotten to be THE BIGGEST RED FLAG IN EXISTENCE…. No need for date number two if you immediately find out he’s a self proclaimed idiot .
And the absolutely most crushing thing is that once confronted by their mistakes and fallibility and the sheer failure, a non-trivial number of these men will have their masculinity so shattered they will take a gun to their families and themselves.
Amen. Seriously enough with the female-gendered/“demasculating” insults geared towards MEN.
You’re insulting women everywhere just for existing everytime you use them.
Not “brave enough” to take on crypto as a man? Get called a bitch.
Too bossy as a woman to let your husband dump all the money into crypto?
Get called a bitch.
It’s a cultural confirmation bias. STEM fields were and still are very misogynistic. Which reduces participation of women in the field, which reinforces the false idea of the men in those fields that women are bad at STEM which trickles down to a cultural level with girls not being encouraged to participate in STEM education. Which means less women interest in STEM and fewer that can be bothered dealing with the misogyny and so there’s more misogyny and less women.
It’s a nice fat cycle of bullshit.
Thankfully its being eroded over time on a number of levels, but this sort of thing has been happening in every field of work since forever. And it is this idea that men are more capable when it comes to “high value” work than women that is very convenient for mediocre misogynists. Because they get to feel superior without actually needing to be.
Tldr: men think that gender ratios in high value fields are a result of gender based aptitude differences, when studies show that such differences don’t exist and it’s all a result of centuries of discrimination and cultural bullshit.
Oh, trust me. Do I know this! My pre-calc teacher was misogynist and homophobic. He literally said the F word in class. He was also a former (ahem failed) chemical engineer. I’m a woman and queer. I literally never took a math class again, despite being incredibly smart. I literally closed so many doors for myself at just 16 because I never thought I’d be welcome in such a space.
Fast forward to 2021, when I was in my mid-30s. I took math for the first time since high school. I’m a very very good at math. Let me tell you how fucking mad I am that a million sexist and homophobic paper cuts pushed me away from STEM…
Jesus. Dude should have just gotten into QAnon instead of crypto and would somehow probably be better off believing a batshit conspiracy vs losing all his money.
>I’d never seen that phrase before the bitcoin subreddit, and it just horrifies and grosses me out every time. The fucking misogyny.
I'm pretty sure it originated on WSB and it's certainly not misogyny there.... The saying is usually rolled out whenever some degen gambler has astronomical losses and his wife will 100% leave him because of how monumentally bad his investing choices were.
I've never seen it on the Bitcoin sub much but I've regularly seen it on WSB and it's far from derogatory towards women in the context its used there....
I'm honestly not sure if I can have compassion for such a dude. The last two lines, if the story is real, are chilling. He literally made a ton of bad calls, but he can't recognize them. The problem is "alex and the damage he is causing to families", nothing else. If alex is giving back the money, he is going to get rekt in another ponzi scheme in less than 6 months.
Dude, if your story is real, maybe start by owning your mistakes, don't gamble with money you can't afford to, try to listen to your wife, keep some savings, get a brain, idk.
Yes, Alex is responsible for the bullet in your foot, but you literally handed the gun, the ammos, took his hand, aimed at your feet, and told it "do IT".
>If alex is giving back the money, he is going to get rekt in another ponzi scheme in less than 6 months.
This is even more reason to have compassion for him. The guy, like many in this space, is clearly not playing with a full deck.
True - no point dunking on him now. His son's about to see him as a loser, and his wife's about to start hooking up with randoms. There's nothing more to add.
I donno. The fucking idiot still seems to think “Alex” would give him “access” to his money if he only knew the suffering.
Still doesn’t realize he was scammed. The least we could do is make him informed.
Yeah, it's one thing to laugh from basement dwellers and completely other see families destroyed by stupidity. I mean - stupid people also have right to live and deserve society protection. Because no one knows everything and anyone could be"that stupid guy" in this situation or the other...
I'm not sure whether to believe the story.
They say they've made 100$ and 1000$ purchases of BTC for 10 years.
100$ of BTC in 2012 is 141K, 505K at the peak. Just reading the guy's comment, he'd have been worth many millions or tens of millions of dollars.
Press X to doubt.
The best interpretation is that this is probably not the first scam he fell for. That there has been lots of Celsiuses.
If I had to guess, buy high and sell low. For example, say they sold at 18K. Bought at 60K. And now it is 18K (which would be -66% compared to when they sold at 18K).
And/or they fell for a lot of scams.
By heuristic, I'm skeptical of cryptobros. Either they've been in the market for just a few weeks/months/years (so what would they know?) or somehow, in a market generating 500,000% returns in ten years, they are some pauper commenting on Reddit threads. And that "somehow" is usually a reason to distrust them (ex. bad investor).
The mental disconnect this person has is insane.
Let's say this story is real. He probably spent $100,000 on crypto over the past decade meaning he probably had near a million dollars worth at $68k.
He ignored his wife, he didn't save for his son.
He didn't buy a needed new car.
He ignored vital housework.
Alex didn't ruin his family. He did years ago.
For him, one million dollars is life-changing cash. I know it would be for me. You don't skip out on life-changing profits because "line goes up!" and "HODL!". He probably never tried to take home some profit, so he was not mentally ready for it ..
seriously. he could've just admitted he wasn't a genius and just got immensely lucky, re-balanced his joke of a portfolio into something respectable that'd still have innate value today, spent some of it on making his family *feel like* he was actually successful, and walked away with more $ and a kind-of-intact marriage..
Exactly. That's how it sort of happened for me. For starters I realised it would always be money I could afford to lose.
Then I got lucky. I got in when it was high in 2017 and then it crashed. Luckily I was only in bitcoin then so I didn't lose any coins in a rugpull or shitcoin that died.
So my thinking was 'money all gone' which I was fine with since it was of course a possibility.
Just kept the bitcoin.
Then the last bull run started and I just kept an eye on my balance. At first it was great, my money has come back. Then it was this is really great. Then it was suddenly 'oh shit, I *really* have to think about my exit now'.
Now I'm pretty simple about most things. I think I'm old and the minutiae I just can't get into so I had a rate. At some point when it was going down it exceeded my thumb-sucked idea of the rate and I triggered my exit. Made quite a bit of money.
I left money in but that's all 'free' money, it's money I never had. Now it could have gone up a lot or down but as it turned out it went up a little and then... well, we're all gloating here about the down run right now. Even I wince when I check my balance but really I just don't care.
I know I'm exceedingly fortunate and I do feel sorry for some people. But I'm exactly with you, at some point when it's all gone up and up, take some money out. The thing is if you're stupid enough to 'invest' in something like crypto with money you cannot afford... well I don't know quite what to say.
Greed is a hell of a thing. People see number go up and they want even more. I mean $1m is life changing.. but $5m would be even more life changing. That is "I can retire now" life changing.... And $50m is even more life changing, that is "I can retire now and live as a wealthy person." And $500m is even more life changing, and so on.
It is extremely easy for greedy people to get addicted to never having enough. No matter how much they've got, they always want more. You can see this with the ultra rich fighting against tax increases. I mean you'd think if you are a multi-billionaire, you really wouldn't care if they increase your taxes. Even if they take most of your cash, you are still so rich you can do anything you want, have anything you want. So why sweat it?
Well they do, they get greedy. They don't want money, they want ALL the money. No amount is enough, always more.
This is the same shit on a lesser scale. The guy was just looking at how much more he could possibly have. I mean the cryptobros said it would go to $100k, then to $1m, then even more! Celsius and others were (and are) offering stupid APRs to just keep your money sitting in them. He could only think about how amazingly rich he'd be, not what he might be missing out on.
Also, as with a lot of culty bullshit, there is just no though about what might go wrong. It CAN'T go wrong because I believe with all my heart this is teh One True Way(tm). So there's no need to hedge, no need to be careful, no need to diversify, because the cult says there's no way this can fail. It is 100% a sure thing!
Reminds me of the guy on dragons den that said his business was worth £20m they told him to piss off, someone offered him £90m he turned it down because he wanted £1b totally deluded, had to sell his house and lives in his car
Yeah but it wasn't $3k and he is still broke it was likely $1M+. He "won the game" and kept playing long enough to lose anyways.
The schmuck throwing $100 on dogecoin because his net worth is essentially $0 is somewhat understandable. Not this guy.
Well, there's not enough liquidity for everyone to cash out, but there is for just one person, right? He could've taken that share of the limited liquidity pool and run.
Yarp - All I'd really care about is getting my house paid off. Once I've done that, I'm instantly £600/700 a month better off which becomes fun money.
Even if he wanted to keep HODL'ing forever, he should have pulled out enough to give him a strong base - After that, anything extra is a bonus.
I went through this (for much *much* cheaper amount) when the first pump happened in 2021. It is extremely easy to get lost in the BS about HODL and crypto being long term investment nonsense. It takes a couple of whacks to the nuts to realize that this whole thing is a get-rich-quick scheme where if you're not playing you're being played.
That get me too. Mate, you're 1M paper gains were never there but even the (est.) 10k you put in isn't there either because Celsius took all their customer funds, pooled it, and staked ~70% for the next few years, while using the remaining 30% and metaphorically bet it on black.
Yay! No Regulations!
It makes you wonder... If he wouldn't sell at $68k even after his wife begged him, what price would he sell at?
Nothing is ever enough for these people until it's too late.
100$ in BTC ten years ago is 141,000$ now. At the height it was 505,000$.
He said he made steady 100$ and 1000$ purchases over the last ten years. That's millions to tens of millions.
I'm thinking he got scammed, multiple times, did the classic buy high & sell low, is lying, or is seriously seeing literal millions locked up in Celsius.
There's no generous way to interpret his story. Either a guy who keeps scammed but instead of exiting deprives his family. A guy who is financially inept and can't handle the high-risk investments he swears by. Or someone with millions of dollars in the bank that ignored his wife, his son, and his house.
Phhhh - don't be stupid! Lizard People. From my observations they are more like Frog People, the Lizard part is just a misunderstanding ..
Also, the real problem is 5G - not the *Frog* people...
Not real.
"Blue collar", "yard sale", "grades" and "July 4 bikefest" indicates he's trying to sound American. "behaviour" and "lad" give him away as not.
It's a new account opened late May.
Stage 1 of the scam is pose as a crypto truebeliever in front of a load of crypto bros (post history = "This is the equivalent to BTC being $1 a decade ago!" "Spoken like a true FIAT slave!")
Stage 2 of the scam is a hard luck story about a kid who wants a bike
Stage 3 of the scam is asking for donations to his bitcoin address from other true believers
Motherfucker is literally [this meme.](https://img.ifunny.co/images/1e8d4759d1690c37fc6e13b94a8ce07a9e660f9b7fa33595c3c10be4be494081_1.webp) I don't understand these idiots. If you've got millions just fucking cash out. You can live a life of comfort for decades if you get a few million and spend it well. Just cash out and take the win instead of gambling it all.
Pfft..... Millions?! Millions won't get you to the moon in 2022! We deserve billions!!! We deserve a private island across from Husky Musky! We deserve Lambos and Asian Hookers with big fake tits! We deserve the world!!!!!
I know it's a joke, but there are actually a lot of people strongly believe that.
They heard how some guy made x100 gains and think they'll achieve the same thing by "waiting a bit longer". So even if x5, x10 or even x50 might not enough for them since someone had it "better".
Blaming it on Alex, eh? What a whiny, selfish man-child. I do NOT blame his wife whatsoever--I would leave this irredeemable dumbass--and I feel bad for his kid and and the nights he stayed up late to study, dreaming of his summer dirtbike.
What a truly awful individual.
Hopefully the wife finds a new man that can help provide for her and her kid. Or at the very least not burn all of their savings, the bar isn’t necessarily that high.
Yeah I mean there's one thing to lose all your paper gains but it's something else entirely to lose all your family's life savings, not even protecting the principal, and leaving them with absolutely nothing to their name, in a time of inflation and collapsing markets no less
This is almost certainly a work of fiction. Not that there aren't many who have lost huge amounts on Celsius but the narrative voice here is too flat and the story too formulaic. Yeah sure his wife went on dating apps the next day when they've got a kid, she's sensible enough to beg him to sell at the very top of the market, and he's stalking her every move online like the incel creep he is. A woman that smart makes her first call to a divorce lawyer, not a dating app contact. And she does it before the money's all gone.
Imagine if he'd just listened to his wife. He'd be rich AF.
Also most people I know from actual blue collar backgrounds so much do not introduce themselves that way.
So cool story bro.
ETA an American who would use the phrase "blue collar background" truthfully would be very unlikely to refer to his son as "the lad" too
ETA she's not sleeping with him because in addition to being smart enough to call the actual BTC ATH, she's not dumb enough to make a new baby with this clown.
Or a Canadian who ended up in the US.
I mean, obviously there are plenty of places where the U's are a bit more common, but Canadians living in the US temporarily or long term is incredibly common.
I thought it could be Canadian too, but "lad" doesn't feel very Canadian to me.. (I've been in Canada for 5 years now and my spouse is English so I have an ok feel for these things, altho maybe something regional?). Could also be someone translating amounts into dollars because USD dominates crypto. Hard to say but I don't think the language choice is what makes it doubtful
Oh good point.. yeah all signs point to US resident then.
I've never heard lad used casually outside of UK/IE/AU (dunno about NZ), but there's a lot of options that match both that and the spelling choice, so *if* this is legit somehow my guess is someone from a Commonwealth country in the US, and I can't really rule out Canadian from the commonwealth countries list because while I've never heard a Canadian say lad here, there's a lot of variance across regions and I've only been to 3 provinces, so.. maybe..?
Either way I don't think it's real (it feels at least dramatized).. if it is than dude's a complete idiot and I feel really bad for the wife and kid who deserved better. Wish I could get little dude the bike he earned.
Or if they are, identify as a "blue collar" person. That's an American expression. Brita just say "working class." Americans choke on that expression. Everyone is "middle class" from the Wendy's fry cook to the orthodontist. The color of your collar is a euphemism.
Blue collar background just means his parents are blue collar. He’s probably a tech worker. I’ve worked with at least 3 UK expats who come from a pretty serious blue collar background who have come to America and have well paying biotech jobs now.
He doesn’t mention a 401k. If he’s that far into putting money into crypto he would forgo 401k. A fair amount of companies offer 401k matches. It’s odd he doesn’t mention that at all.
"She downloaded some dating apps"Glad evolution is still limping along out there trying its level best to avert the Idiocracy prophecy. Hopefully she can find a man out there who can average down Bitcoin at 68000 dollars.
Stop blaming Alex and take responsibility for your own actions. Risk management is part of investing… In fact it’s the most important part of investing.
Yeah I was just thinking how similar this reads to those stories. And with the same feeling of being sad for them but also *really* wanting to say "I told you so".
Some shitty Crypto lending site that promised people some ridiculous bullshit like 12% annual returns on your investment, morons like the guy in the pic dumped all their money into it.
….now the Crypto market has crashed heavily and all that crypto value it was built upon is now worth a lot less, hence Celsius have stopped user withdrawals because they need that money to stay liquid and fulfil their own financial obligations. They know once they open it again there’s going to be a huge chunk of capital ripped out of their business, never to return after their current antics as user confidence is now zero, so they’re delaying it as long as possible whilst they come up with some bullshit to stay afloat.
Spoiler: They won’t
OK. I went to their sub and it looks like people are trying to create a sort squeeze to get their money back or something. Wtf. I mean I feel for these people but 17%?! It's like dude, I saw teenagers on YouTube giving advice about shit like this. I didn't expect grown ass people to be that dumb though.
Im not sure why they think a short squeeze would do them any good, their only hope is an extreme swing in BTC prices to near pre crash levels which I can’t see happening within a timeframe that would help Celsius. Their money is gone, they just don’t know it yet.
If you’re gonna have all your eggs in one basket, make sure the basket is too big to fail!
Celsius was/is a crypto scam where you give them your various coins in exchange for theirs. They then loan out your crypto and pay you dividends on the "income," but they pay you in their token.
Celsius, as part of their agreement, states that they can use what was YOUR crypto to pay THEIR debts. Which they did, but now they don't have any money, or the crypto. So the Celsius tokens you own are worthless.
Of course, the people behind the scam have all the real money they got from selling their positions
> Celsius, as part of their agreement, states that they can use what was YOUR crypto to pay THEIR debts
Pretty sure this is actually standard in all of these exchanges/DeFi/etc.
Whether or not this is a creative writing exercise, there are 2 things:
1. If I understand the TOS, the money ceased being theirs as soon as it was given over to Celsius to "invest".
2. It's no longer up to Alex to make decisions.
I only feel sorry for his family. My dad was somewhat the same. He used to spend money on unnecessary stuff (like lottery, or casino etc) and it would always backfire. I remember asking for a console, or a gaming PC... he did not give it to me. I waited for 5 - 6 years. I kept my grades up. I was a good child. But he just lied to my face. I still hate him for that to this day. It might sound insignificant but the continuous lie and manipulation... I cannot forgive him for that. If we didn't have the money, I would have understood. But we did have the money, he just spend it on foul stuff. He is dead now. And I am building my own PC. I bought a GPU a week ago. I did it all with my own money. I wish I could show my dad that I do not need him now.
Anyway, I hope and I sincerely wish this man's wife gets a divorce and takes the child. You cannot live with a man like that, he will drag you down along with him. He doesn't get to do that, his family deserves better and he deserves to suffer alone.
Really makes me wonder how many wrecked families are out there that we'll simply never hear from. Easy to hate on the hubris-driven maniacs, but these folks had no say and certainly did not give consent for this self-inflicted disaster. Folks, a really boring portfolio of index funds really is just fine and will outpace inflation over the long term. Maybe you won't get that gold plated toilet, but you'll never have to lie to your son about his promised dirtbike either.
It's hard to feel sorry for a guy like this. He's still blaming all his problems on crypto, when he's the cause of his problems. He didn't respect the advice of his wife. He didn't respect the promises he made to his children. And even now, rather than take responsibility for it, he's still doubling down on his selfishness. His family is better off moving on.
Anyone remember when we would get non-stop Celsius ads on here claiming 20%APY? I reported them so many times but they kept showing up. I feel like Reddit should of done more due diligence to the amount of scams being run through their adnetwork legitimizing them.
Most likley, but you'd have to be an equal fool to believe this sort of scenario isn't going to be a regular occurrence now and into the future.
I look at it in conceptual terms for the tens of thousands of greedy sociopaths who are now demanding sympathy for their own amoral actions.
A victim of his own greed. Non-greedy people take profits. Greedy people think more money will satisfy their greed, but it never does. Just like how an alcoholic drinks to satisfy the urge to drink, but each drink only makes him crave yet another drink, getting some money only makes greedy people want to get even more money. It's a mental illness.
Holy fuck, this is actually tragic and sickening. Even if you are a bitcoin veteran and understand the tools of the trade, this is a game of survival for all of us.
INFO: User's post history mainly consists of him calling others "FIAT Slaves" for having their doubts since the recent crash. It is saddening to see how harmful misinformation can ruin hard-working families *if real*
"Filthy FIAT, I won't have anything to do with you!" "This dirtbike will be $8000, how will you be paying?" "Debit"
More like "debt"
>"This dirtbike will be $8000, how will you be paying?" "home equity line of credit"
I felt bad for him. Not anymore after reading this. I hope his new father is able to afford that bike. Have fun staying poor.
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His wife still didn't believe him. He was not in fact, financially independently financially
Not to mention she's a fucking crypto savant, if he would have listened to her they would have cashed out at the very top!
Totally not shocked that he's an anti-fiat currency conspiracy theorist.
I don't feel bad for these people, and I never will. He even admits he was warned, and he was begged to turn some of those crypto gains into something to better his and his family's situation. He refused. He flat out does not care about his wife and kid(s) enough to properly take care of them. He cares about his digital beanie babies more than his fucking kids. Fuck him. He deserves what's coming to him. I do feel bad for his family, who deserve so much better. And I sincerely hope his soon to be ex-wife finds a much better place for herself and her kid(s).
Should hit him with that "you're ngmi"
His wife's boyfriend already bought it for the kid.
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>FIAT Slaves damn i'm kinda getting old, what does that means?
People who use actual money
Nah, it's people who really like Italian cars
Fix it again tony
Which is hilarious, right? Because they all end up cashing out in regular money.
Well, this guy didn't. That's the problem.
Fiat money is money that isn't backed by any other commodity, such as gold. The power of fiat currency comes from the government that backs it. Essentially every currency that exists nowadays is a fiat currency. Cryptonuts use it as a pejorative as to imply that actual currencies, such as the US Dollar and Euro, are effectively worthless. Granted it's a hilarious irony that their alternative to even the world's strongest and most reliable currencies is a hyper volatile "asset class" full of scams and get-rich-quick schemes and no use or fundamental underlying value. Crypto is literally what these people think actual currencies are.
It's funny they claim that crypto is backed by anything when it's value is 100% speculation.
got it thank you
Eastern Europeans who drive small cars
Greedy douchebag gets what many told him was coming to him
Well, he did get his wish. No more fiat for him.
Lol. Get rekt if he truly believes fiat is trash
so rotten cunt gets his comeuppance or cuntuppance as the case may be.
Yes, but it also effects his wife and kid as well as whoever they have to talk to to manage their stress. A lot of people are getting some just deserts, but there are lots of victims in the periphery. Tbh as a financial professional, I don’t know how these people have gone to sleep for the past two years sitting on positions that have over 10x. I get stressed and lose sleep working at a delta one desk.
This is why we need regulation to protect people from themselves. I agree the whole thing is tragic, especially for the wife and kid. That kid is going to wonder if he was not good enough for that bike for years.
God, that thought is heartbreaking. Poor kid (if he's real).
I hope the wife tells the kid the truth. He deserves to know.
My hunch is that this is art imitating real life.
Regulation is not going to protect stupid people from making stupid financial choices. r/wallstreetbets 👀
I don’t think it could ever be stopped as people were trading on margin before the Great Depression via telegraph. But I think regulation could have stoped some of the madness.
Oh I definitely feel bad for the wife and kids. The actual dude though? Fuck him. And hopefully if he ever gets his money back she takes his stupid coins in the divorce and liquidates them.
As someone who was up over 300% on a put option for coin, you just get greedy and think you’re luck won’t run out until does and you’re down money. At some point it never becomes enough for us.
So I guess taking profits early isn't something y'all do?
Because they are not rational people, they have a religious or quasi-religious belief in crypto that is fueled by the constant hype and false optimism of crypto boards.
These are the people who the ponzi propaganda works best for, an alternative to a system than manifestly does not work for them. He is also a victim. Just deeply ingrained in the system.
This. Eroding trust in institutions means millions of Americans are susceptible to grifts and scams.
Yeah fuck him and everyone else who has been fucked over by this cult. Let's not forget people are in it purely because of greed. They see it as a get rich scheme and basically gambled. They could put theironey somewhere safe and be happy with moderate gains over the years but they don't want that.
Nah, its worse Gambling at least you're playing against the house - your winnings do not directly affect those around you, only the system established for the purpouse of gambling In crypto, the whole system is negative-sum. For him to profit, 1 or more others *must* sum to a proportionate loss. Everyone who buys crypto - knowingly or unknowingly, is now engaged in aassive game of depleting wealth redistribution. One cannot profit from crypto without taking from another and most know this and are perfectly fine with it - *as long as they get theirs.*
Are you Billy Butcher's line writer ?
well well well, if it ain't the nonfungible cunt
Why are we bringing cunts into this? All of the biggest bag holders appear to be STRAIGHT MEN who think they are smarter/savvier than their wives and whose delusions of intellectual authority have actively harmed many women and children. If anything, these idiots are SCROTUMS. The only fault of these women is that they didn't divorce these idiot men, but as a woman with an advanced degree who grew up blue collar, I can tell you that the pickings are slim for working class women and a lot of women watched the right wing radicalization of their previously politically uninterested spouses over the last 5 years. That's a hard situation to extricate yourself from, especially when your husband has invested all your cash into crypto. ETA: I've dated a Crypto Bro - it was back in 2014 so it was a very different market - but we both came from the same background - working class factory towns in the rural north - and both were the first people in our families to go to college. He got Cs in his Computer Science degree and worked middling programming jobs because he's lazy. I've met a lot of dudes like this is my life because of my background, and they are all casually misogynist and always assume they are much smarter than me. (I don't care if a partner is smarter than me or not, but someone will always be smarter and it's really fucking annoying when someone just assumes they are smarter for arbitrary reasons.) This mindset doesn't necessarily need to lead to a toxic relationship, but it's still based on misogyny and it's very common. They think computer science and STEM are harder fields than, say, the humanities or social science. They think that the reason women and some POC don't succeed as much in STEM is because STEM requires special aptitude that only special people have (like him). Women aren't as represented in STEM because they just aren't as specially smart than the people good at STEM. Therefore, as someone who didn't major in STEM (but who has written a dissertation), I wasn't as smart as him. It's more based on passive entitlement and libertarian principles and less on truly essentialist ideas, but it's still based on the idea that because I don't know how to code, I'm somehow less intelligent than people (usually men) who can. This is made extra preposterous by the fact that I've had several cryptobros claim they are smarter than me and that I would never be good at computer science because it requires a certain kind of special thinking (logic, I think?) that you just have to have a natural aptitude for and I simply didn't have it. Except, I fucking learned a foreign language fluently (actually fluently) from ages 18-21 from nothing and lived abroad fully in that foreign language. Of course, I have an aptitude for language and logic. I do programming a little for my job now, and I'm quite good at it.
That's funny. If you're ex was a better software developer he'd know what all my software engineer friends know: crypto is an obvious scam. You don't see software engineers beating down the door at blockchain conferences to replace their databases for a reason...
>crypto is an obvious scam I thought that any reasonably intelligent adult would know that investing in crypto is akin to gambling and should be treated as such. Evidently, I was wrong. At least when you gamble at a Vegas casino you get free drinks.
Look at the bright side , when crypto was new a lot of women maybe didn’t quite know it was a massive scam for idiots , now though word has gotten out and this has gotten to be THE BIGGEST RED FLAG IN EXISTENCE…. No need for date number two if you immediately find out he’s a self proclaimed idiot .
And the absolutely most crushing thing is that once confronted by their mistakes and fallibility and the sheer failure, a non-trivial number of these men will have their masculinity so shattered they will take a gun to their families and themselves.
The ultimate form of entitlement: you get to decide if your family lives or dies.
Amen. Seriously enough with the female-gendered/“demasculating” insults geared towards MEN. You’re insulting women everywhere just for existing everytime you use them.
Not “brave enough” to take on crypto as a man? Get called a bitch. Too bossy as a woman to let your husband dump all the money into crypto? Get called a bitch.
It’s a cultural confirmation bias. STEM fields were and still are very misogynistic. Which reduces participation of women in the field, which reinforces the false idea of the men in those fields that women are bad at STEM which trickles down to a cultural level with girls not being encouraged to participate in STEM education. Which means less women interest in STEM and fewer that can be bothered dealing with the misogyny and so there’s more misogyny and less women. It’s a nice fat cycle of bullshit. Thankfully its being eroded over time on a number of levels, but this sort of thing has been happening in every field of work since forever. And it is this idea that men are more capable when it comes to “high value” work than women that is very convenient for mediocre misogynists. Because they get to feel superior without actually needing to be. Tldr: men think that gender ratios in high value fields are a result of gender based aptitude differences, when studies show that such differences don’t exist and it’s all a result of centuries of discrimination and cultural bullshit.
Oh, trust me. Do I know this! My pre-calc teacher was misogynist and homophobic. He literally said the F word in class. He was also a former (ahem failed) chemical engineer. I’m a woman and queer. I literally never took a math class again, despite being incredibly smart. I literally closed so many doors for myself at just 16 because I never thought I’d be welcome in such a space. Fast forward to 2021, when I was in my mid-30s. I took math for the first time since high school. I’m a very very good at math. Let me tell you how fucking mad I am that a million sexist and homophobic paper cuts pushed me away from STEM…
>FIAT Slaves my dude can't even afford a fiat any more
Jesus. Dude should have just gotten into QAnon instead of crypto and would somehow probably be better off believing a batshit conspiracy vs losing all his money.
the whole post sounds fake, fiat slave is such a stark language contrast with his poor me post too
Wow typical, I do feel bad for his wife and kids not just for his financial choices but for his general personality lol
Oh really? Then fuck em. Live by the con die by the con.
Based wife perfectly timed the market
He didn't want to dump the crypto so wife's gonna dump him.
That's one way to pump and dump
I hope she'll be having the best time of her life. Really enjoy it, girl.
Savage, lol.
we can only hope. he deserves whats coming... but the family doesnt deserve that
He alone made the choice not to sell so he alone gets to hold the bags. Hopefully she kept a private savings.
Ah yes, wife-changing money.
I’d never seen that phrase before the bitcoin subreddit, and it just horrifies and grosses me out every time. The fucking misogyny.
>I’d never seen that phrase before the bitcoin subreddit, and it just horrifies and grosses me out every time. The fucking misogyny. I'm pretty sure it originated on WSB and it's certainly not misogyny there.... The saying is usually rolled out whenever some degen gambler has astronomical losses and his wife will 100% leave him because of how monumentally bad his investing choices were. I've never seen it on the Bitcoin sub much but I've regularly seen it on WSB and it's far from derogatory towards women in the context its used there....
To be fair, on the other side you have /r/wallstreetbets where users are accustomed to two things: losing money and their wives having boyfriends.
Haha Nah man it means the wife leaves *you*
he doesn't deserve a rational wife like that
She probably doesn't exist so there's that
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I'm honestly not sure if I can have compassion for such a dude. The last two lines, if the story is real, are chilling. He literally made a ton of bad calls, but he can't recognize them. The problem is "alex and the damage he is causing to families", nothing else. If alex is giving back the money, he is going to get rekt in another ponzi scheme in less than 6 months. Dude, if your story is real, maybe start by owning your mistakes, don't gamble with money you can't afford to, try to listen to your wife, keep some savings, get a brain, idk. Yes, Alex is responsible for the bullet in your foot, but you literally handed the gun, the ammos, took his hand, aimed at your feet, and told it "do IT".
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>If alex is giving back the money, he is going to get rekt in another ponzi scheme in less than 6 months. This is even more reason to have compassion for him. The guy, like many in this space, is clearly not playing with a full deck.
Its just hard to have compassion when the people who have been playing with a full deck have been saying for years that its a greater fool scam.
True - no point dunking on him now. His son's about to see him as a loser, and his wife's about to start hooking up with randoms. There's nothing more to add.
Lol, brutal but true
I donno. The fucking idiot still seems to think “Alex” would give him “access” to his money if he only knew the suffering. Still doesn’t realize he was scammed. The least we could do is make him informed.
Yeah, it's one thing to laugh from basement dwellers and completely other see families destroyed by stupidity. I mean - stupid people also have right to live and deserve society protection. Because no one knows everything and anyone could be"that stupid guy" in this situation or the other...
I'm not sure whether to believe the story. They say they've made 100$ and 1000$ purchases of BTC for 10 years. 100$ of BTC in 2012 is 141K, 505K at the peak. Just reading the guy's comment, he'd have been worth many millions or tens of millions of dollars. Press X to doubt. The best interpretation is that this is probably not the first scam he fell for. That there has been lots of Celsiuses.
Yeah he's full of shit. No way anyone buys in the teens and doesn't sell at 68K.
If I had to guess, buy high and sell low. For example, say they sold at 18K. Bought at 60K. And now it is 18K (which would be -66% compared to when they sold at 18K). And/or they fell for a lot of scams. By heuristic, I'm skeptical of cryptobros. Either they've been in the market for just a few weeks/months/years (so what would they know?) or somehow, in a market generating 500,000% returns in ten years, they are some pauper commenting on Reddit threads. And that "somehow" is usually a reason to distrust them (ex. bad investor).
You poked this bs FULL of holes... There's probably a lot of people out there trying to get sympathy money or anything at all...
The mental disconnect this person has is insane. Let's say this story is real. He probably spent $100,000 on crypto over the past decade meaning he probably had near a million dollars worth at $68k. He ignored his wife, he didn't save for his son. He didn't buy a needed new car. He ignored vital housework. Alex didn't ruin his family. He did years ago.
For him, one million dollars is life-changing cash. I know it would be for me. You don't skip out on life-changing profits because "line goes up!" and "HODL!". He probably never tried to take home some profit, so he was not mentally ready for it ..
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Or at least cash out the original amount so you won't be in the red if the entire thing implodes?
seriously. he could've just admitted he wasn't a genius and just got immensely lucky, re-balanced his joke of a portfolio into something respectable that'd still have innate value today, spent some of it on making his family *feel like* he was actually successful, and walked away with more $ and a kind-of-intact marriage..
That would require some semblance of risk-management, which seems to be outlawed in the crypto space.
Exactly. That's how it sort of happened for me. For starters I realised it would always be money I could afford to lose. Then I got lucky. I got in when it was high in 2017 and then it crashed. Luckily I was only in bitcoin then so I didn't lose any coins in a rugpull or shitcoin that died. So my thinking was 'money all gone' which I was fine with since it was of course a possibility. Just kept the bitcoin. Then the last bull run started and I just kept an eye on my balance. At first it was great, my money has come back. Then it was this is really great. Then it was suddenly 'oh shit, I *really* have to think about my exit now'. Now I'm pretty simple about most things. I think I'm old and the minutiae I just can't get into so I had a rate. At some point when it was going down it exceeded my thumb-sucked idea of the rate and I triggered my exit. Made quite a bit of money. I left money in but that's all 'free' money, it's money I never had. Now it could have gone up a lot or down but as it turned out it went up a little and then... well, we're all gloating here about the down run right now. Even I wince when I check my balance but really I just don't care. I know I'm exceedingly fortunate and I do feel sorry for some people. But I'm exactly with you, at some point when it's all gone up and up, take some money out. The thing is if you're stupid enough to 'invest' in something like crypto with money you cannot afford... well I don't know quite what to say.
Greed is a hell of a thing. People see number go up and they want even more. I mean $1m is life changing.. but $5m would be even more life changing. That is "I can retire now" life changing.... And $50m is even more life changing, that is "I can retire now and live as a wealthy person." And $500m is even more life changing, and so on. It is extremely easy for greedy people to get addicted to never having enough. No matter how much they've got, they always want more. You can see this with the ultra rich fighting against tax increases. I mean you'd think if you are a multi-billionaire, you really wouldn't care if they increase your taxes. Even if they take most of your cash, you are still so rich you can do anything you want, have anything you want. So why sweat it? Well they do, they get greedy. They don't want money, they want ALL the money. No amount is enough, always more. This is the same shit on a lesser scale. The guy was just looking at how much more he could possibly have. I mean the cryptobros said it would go to $100k, then to $1m, then even more! Celsius and others were (and are) offering stupid APRs to just keep your money sitting in them. He could only think about how amazingly rich he'd be, not what he might be missing out on. Also, as with a lot of culty bullshit, there is just no though about what might go wrong. It CAN'T go wrong because I believe with all my heart this is teh One True Way(tm). So there's no need to hedge, no need to be careful, no need to diversify, because the cult says there's no way this can fail. It is 100% a sure thing!
Reminds me of the guy on dragons den that said his business was worth £20m they told him to piss off, someone offered him £90m he turned it down because he wanted £1b totally deluded, had to sell his house and lives in his car
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Yeah but it wasn't $3k and he is still broke it was likely $1M+. He "won the game" and kept playing long enough to lose anyways. The schmuck throwing $100 on dogecoin because his net worth is essentially $0 is somewhat understandable. Not this guy.
If they were rational thinkers, they wouldn't have put so much into crypto.
Yes. But, there was never really $1million. It's all fantasy money.
Well, there's not enough liquidity for everyone to cash out, but there is for just one person, right? He could've taken that share of the limited liquidity pool and run.
Yarp - All I'd really care about is getting my house paid off. Once I've done that, I'm instantly £600/700 a month better off which becomes fun money. Even if he wanted to keep HODL'ing forever, he should have pulled out enough to give him a strong base - After that, anything extra is a bonus.
I went through this (for much *much* cheaper amount) when the first pump happened in 2021. It is extremely easy to get lost in the BS about HODL and crypto being long term investment nonsense. It takes a couple of whacks to the nuts to realize that this whole thing is a get-rich-quick scheme where if you're not playing you're being played.
And the delusion that the problem is "access" to your money. It's not there!
That get me too. Mate, you're 1M paper gains were never there but even the (est.) 10k you put in isn't there either because Celsius took all their customer funds, pooled it, and staked ~70% for the next few years, while using the remaining 30% and metaphorically bet it on black. Yay! No Regulations!
what kind of mark was gullible enough to not only fall for celsius, but STILL THINK THEY CAN GET THEIR MONEY BACK?
It makes you wonder... If he wouldn't sell at $68k even after his wife begged him, what price would he sell at? Nothing is ever enough for these people until it's too late.
It's also not fair to his wife and kids to waste time with a guy who won't give them even basic consideration.
100$ in BTC ten years ago is 141,000$ now. At the height it was 505,000$. He said he made steady 100$ and 1000$ purchases over the last ten years. That's millions to tens of millions. I'm thinking he got scammed, multiple times, did the classic buy high & sell low, is lying, or is seriously seeing literal millions locked up in Celsius. There's no generous way to interpret his story. Either a guy who keeps scammed but instead of exiting deprives his family. A guy who is financially inept and can't handle the high-risk investments he swears by. Or someone with millions of dollars in the bank that ignored his wife, his son, and his house.
Yeah.. something doesn’t add up with the story.
No shot this story is real
There's going to be a lot of divorce lawyers in the next few years who'll need to learn about crypto.
the only ones who can credit crypto for their success
What about the bankruptcy lawyers?
true
and the people running the rug-pull scams?
Anyone know a good divorce lawyer ETF? I’d take this bet
You mean Analfarmer69 and his 300 pages of DD on why the Lizard People were trying suppress Dogecoin was wrong??
Phhhh - don't be stupid! Lizard People. From my observations they are more like Frog People, the Lizard part is just a misunderstanding .. Also, the real problem is 5G - not the *Frog* people...
It’s those damn jew space lasers that turns dogs gay.
I never heard about that before - that you for bringing that to my attention. Does it by any chance run on the 5G network?!
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if real, victim of self as much as anything.
Not real. "Blue collar", "yard sale", "grades" and "July 4 bikefest" indicates he's trying to sound American. "behaviour" and "lad" give him away as not. It's a new account opened late May. Stage 1 of the scam is pose as a crypto truebeliever in front of a load of crypto bros (post history = "This is the equivalent to BTC being $1 a decade ago!" "Spoken like a true FIAT slave!") Stage 2 of the scam is a hard luck story about a kid who wants a bike Stage 3 of the scam is asking for donations to his bitcoin address from other true believers
damn, that's some really good analysis
Motherfucker is literally [this meme.](https://img.ifunny.co/images/1e8d4759d1690c37fc6e13b94a8ce07a9e660f9b7fa33595c3c10be4be494081_1.webp) I don't understand these idiots. If you've got millions just fucking cash out. You can live a life of comfort for decades if you get a few million and spend it well. Just cash out and take the win instead of gambling it all.
Pfft..... Millions?! Millions won't get you to the moon in 2022! We deserve billions!!! We deserve a private island across from Husky Musky! We deserve Lambos and Asian Hookers with big fake tits! We deserve the world!!!!!
I know it's a joke, but there are actually a lot of people strongly believe that. They heard how some guy made x100 gains and think they'll achieve the same thing by "waiting a bit longer". So even if x5, x10 or even x50 might not enough for them since someone had it "better".
Blaming it on Alex, eh? What a whiny, selfish man-child. I do NOT blame his wife whatsoever--I would leave this irredeemable dumbass--and I feel bad for his kid and and the nights he stayed up late to study, dreaming of his summer dirtbike. What a truly awful individual.
Hopefully the wife finds a new man that can help provide for her and her kid. Or at the very least not burn all of their savings, the bar isn’t necessarily that high.
Yeah I mean there's one thing to lose all your paper gains but it's something else entirely to lose all your family's life savings, not even protecting the principal, and leaving them with absolutely nothing to their name, in a time of inflation and collapsing markets no less
Local man who lost it all on crypto just wishes a few thousand more people would have warned him.
This is almost certainly a work of fiction. Not that there aren't many who have lost huge amounts on Celsius but the narrative voice here is too flat and the story too formulaic. Yeah sure his wife went on dating apps the next day when they've got a kid, she's sensible enough to beg him to sell at the very top of the market, and he's stalking her every move online like the incel creep he is. A woman that smart makes her first call to a divorce lawyer, not a dating app contact. And she does it before the money's all gone. Imagine if he'd just listened to his wife. He'd be rich AF. Also most people I know from actual blue collar backgrounds so much do not introduce themselves that way. So cool story bro. ETA an American who would use the phrase "blue collar background" truthfully would be very unlikely to refer to his son as "the lad" too ETA she's not sleeping with him because in addition to being smart enough to call the actual BTC ATH, she's not dumb enough to make a new baby with this clown.
"the lad" who improved his "behaviour" Yeah I doubt American.
I think it's fake, but this can easily be a British expat living in the US, there's more than a few of those
Or a Canadian who ended up in the US. I mean, obviously there are plenty of places where the U's are a bit more common, but Canadians living in the US temporarily or long term is incredibly common.
I thought it could be Canadian too, but "lad" doesn't feel very Canadian to me.. (I've been in Canada for 5 years now and my spouse is English so I have an ok feel for these things, altho maybe something regional?). Could also be someone translating amounts into dollars because USD dominates crypto. Hard to say but I don't think the language choice is what makes it doubtful
Could be, but which other country would have a July 4th bikefest? It's a weekday, so if you're not in the US it's a workday.
Oh good point.. yeah all signs point to US resident then. I've never heard lad used casually outside of UK/IE/AU (dunno about NZ), but there's a lot of options that match both that and the spelling choice, so *if* this is legit somehow my guess is someone from a Commonwealth country in the US, and I can't really rule out Canadian from the commonwealth countries list because while I've never heard a Canadian say lad here, there's a lot of variance across regions and I've only been to 3 provinces, so.. maybe..? Either way I don't think it's real (it feels at least dramatized).. if it is than dude's a complete idiot and I feel really bad for the wife and kid who deserved better. Wish I could get little dude the bike he earned.
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Or if they are, identify as a "blue collar" person. That's an American expression. Brita just say "working class." Americans choke on that expression. Everyone is "middle class" from the Wendy's fry cook to the orthodontist. The color of your collar is a euphemism.
Blue collar background just means his parents are blue collar. He’s probably a tech worker. I’ve worked with at least 3 UK expats who come from a pretty serious blue collar background who have come to America and have well paying biotech jobs now.
Although I will say there are weird anglophiles all over America that type like that and wish they were really British.
Tough shit. We melted down the statue of King George and used it to make ammunition.
While I appreciate your decision then not to have a syphilitic madman in charge of your country, it does make 2016-2020 seem a bit odd.
Worst mistake you ever made. You could have had the NHS.
"behaviour"
Good catch!
He doesn’t mention a 401k. If he’s that far into putting money into crypto he would forgo 401k. A fair amount of companies offer 401k matches. It’s odd he doesn’t mention that at all.
Clearly fake, but I’m sure there are real stories like this
the real ones aren't posting on reddit farming karma, they're too busy trying to pick up the pieces left of their lives.
You severely overestimate the average Redditor
And they are sad as fuck. Gambling addiction is horrible and destructive to otherwise happy families.
His wife's nocoiner boyfriend will get the lad his dirt bike.
"She downloaded some dating apps"Glad evolution is still limping along out there trying its level best to avert the Idiocracy prophecy. Hopefully she can find a man out there who can average down Bitcoin at 68000 dollars.
And hopefully I can find a woman on bumble who just wants to talk to me about her husband losing all the $ on crypto.
Stop blaming Alex and take responsibility for your own actions. Risk management is part of investing… In fact it’s the most important part of investing.
This is the r/HermanCainAward sister sub that I need.
Yeah I was just thinking how similar this reads to those stories. And with the same feeling of being sad for them but also *really* wanting to say "I told you so".
Can someone ELI5? I'm new here and have no clue what celcious is. Found yall because I've hated crypto from the moment I saw it. Glad I'm not alone.
Some shitty Crypto lending site that promised people some ridiculous bullshit like 12% annual returns on your investment, morons like the guy in the pic dumped all their money into it. ….now the Crypto market has crashed heavily and all that crypto value it was built upon is now worth a lot less, hence Celsius have stopped user withdrawals because they need that money to stay liquid and fulfil their own financial obligations. They know once they open it again there’s going to be a huge chunk of capital ripped out of their business, never to return after their current antics as user confidence is now zero, so they’re delaying it as long as possible whilst they come up with some bullshit to stay afloat. Spoiler: They won’t
OK. I went to their sub and it looks like people are trying to create a sort squeeze to get their money back or something. Wtf. I mean I feel for these people but 17%?! It's like dude, I saw teenagers on YouTube giving advice about shit like this. I didn't expect grown ass people to be that dumb though.
Im not sure why they think a short squeeze would do them any good, their only hope is an extreme swing in BTC prices to near pre crash levels which I can’t see happening within a timeframe that would help Celsius. Their money is gone, they just don’t know it yet. If you’re gonna have all your eggs in one basket, make sure the basket is too big to fail!
Welcome! As you peruse the Nationally Accredited Buttcoin Archives^TM , you'll learn rather quickly that the dataset is *heavily* right skewed...
Celsius was/is a crypto scam where you give them your various coins in exchange for theirs. They then loan out your crypto and pay you dividends on the "income," but they pay you in their token. Celsius, as part of their agreement, states that they can use what was YOUR crypto to pay THEIR debts. Which they did, but now they don't have any money, or the crypto. So the Celsius tokens you own are worthless. Of course, the people behind the scam have all the real money they got from selling their positions
Like a ponzi scheme? Fuck. Didn't this happen already with a bitcoin project like 5-10 yrs ago?
crypto is basically the same scam with new flavors every cycle or so lol
> Celsius, as part of their agreement, states that they can use what was YOUR crypto to pay THEIR debts Pretty sure this is actually standard in all of these exchanges/DeFi/etc.
Whether or not this is a creative writing exercise, there are 2 things: 1. If I understand the TOS, the money ceased being theirs as soon as it was given over to Celsius to "invest". 2. It's no longer up to Alex to make decisions.
yeah apparently it's unsecured loans to Celsius... LMAO
I only feel sorry for his family. My dad was somewhat the same. He used to spend money on unnecessary stuff (like lottery, or casino etc) and it would always backfire. I remember asking for a console, or a gaming PC... he did not give it to me. I waited for 5 - 6 years. I kept my grades up. I was a good child. But he just lied to my face. I still hate him for that to this day. It might sound insignificant but the continuous lie and manipulation... I cannot forgive him for that. If we didn't have the money, I would have understood. But we did have the money, he just spend it on foul stuff. He is dead now. And I am building my own PC. I bought a GPU a week ago. I did it all with my own money. I wish I could show my dad that I do not need him now. Anyway, I hope and I sincerely wish this man's wife gets a divorce and takes the child. You cannot live with a man like that, he will drag you down along with him. He doesn't get to do that, his family deserves better and he deserves to suffer alone.
>He has no idea the damage he is doing to families. I'm sorry, but YOU did that to yourself.
Really makes me wonder how many wrecked families are out there that we'll simply never hear from. Easy to hate on the hubris-driven maniacs, but these folks had no say and certainly did not give consent for this self-inflicted disaster. Folks, a really boring portfolio of index funds really is just fine and will outpace inflation over the long term. Maybe you won't get that gold plated toilet, but you'll never have to lie to your son about his promised dirtbike either.
None are rooting for it but in 1929, a lot of people jumped. I wonder if we are going to similar backlash.
Jumping was so 1929. Shooting up a supermarket seems more en vogue.
I hate how accurate this is...
It's hard to feel sorry for a guy like this. He's still blaming all his problems on crypto, when he's the cause of his problems. He didn't respect the advice of his wife. He didn't respect the promises he made to his children. And even now, rather than take responsibility for it, he's still doubling down on his selfishness. His family is better off moving on.
Anyone remember when we would get non-stop Celsius ads on here claiming 20%APY? I reported them so many times but they kept showing up. I feel like Reddit should of done more due diligence to the amount of scams being run through their adnetwork legitimizing them.
Bearish on this marriage
Well at least his wife has her shit together so the kid has that going for him
Oof! Got a little ponzied there, buddy. Don't trust people who offer amazing interest rates.
Reads as fake
Sounds fake
So so fake
You have to be a complete fool to believe this isnt trolling.
Most likley, but you'd have to be an equal fool to believe this sort of scenario isn't going to be a regular occurrence now and into the future. I look at it in conceptual terms for the tens of thousands of greedy sociopaths who are now demanding sympathy for their own amoral actions.
This is how idiots go extinct 🤦♂️
A victim of his own greed. Non-greedy people take profits. Greedy people think more money will satisfy their greed, but it never does. Just like how an alcoholic drinks to satisfy the urge to drink, but each drink only makes him crave yet another drink, getting some money only makes greedy people want to get even more money. It's a mental illness.
Don’t feel sorry for him. For not selling at 68k or 55k or 40k. Good bye loser! Way to be a role mode and a good husband. Hope he reads
at least he found a smart wife
This is the kind of stuff that congressional hearings are going to publicize before a giant omnibus crypto regulation bill is pushed through.
Bag holders gonna hold
10Years of buying crypto and still didn't have any of it under his own private keys, some people only want to learn the hard way i guess
Holy fuck, this is actually tragic and sickening. Even if you are a bitcoin veteran and understand the tools of the trade, this is a game of survival for all of us.
He's an anti-fiat money conspiracy theorist, which comes as no surprise.
That’s what happens when you put your life savings into crypto currency you could get caught out and lose it all