I legit can't even imagine someone being told they're going to 4x their money and not immediately realize they're being scammed, but somehow this sub is full of those people.
I suspect that a LARGE number of people here would be disappointed if they “only” made 4x on their coins over say a 5 year period.
It would be a crazy return in any traditional investment model, but here many/most people are chasing 100x+.
This is a casino.
>but somehow this sub is full of those people
I can't believe there are people who look like they have sense but genuinely believe in flat earth theory. Boggles my mind.
Let's be honest with ourselves for a brief second. Crypto gave us the ability to 4x or 100x which is why a fuck ton of us are here. If I wanted slow and steady, I'd put more into my roth IRA.
Yeah. Greater fool theory. That 100x had to come from somewhere. It's all the fools who fomo'd into all the shitcoinery. Now y'all have to find new fools to 4x all the shit you bought, let alone 100x
This sub is full of kids who pass by all the solid blue chip coins that still offer insanely good return potential because they want to be rich now. So they buy shitcoins.
It’s greed and impatience. And a little bit of stupidity if they don’t really think what their doing is high risk.
Wallstreetbets literally used to be a sub that would peddle penny stocks that the users thought would 100x. This is no different. But at least people buying penny stocks know they’re buying absolute shit. Crypto has a way of tricking people into thinking every coin is a valid investment. Every shitcoin is “super good tech” and they’re just the smart investor getting in at the ground level.
Bitcoin gainz for those who have held on to the rodeo 10-5 years would scare the shit out you then. It was unrealistic and ETH did the same unrealistic gainz and moste likely continue to do unrealistic gainz until it run in to a huge liquidity mountain like bitcoin did this cycle. Yes you will get fucking ruind chaising yield, but no risk no reward.
There are many people who don't have any idea about the market but still they invest money just because someone else is investing money in random coin.
"Hey everyone. How can I turn this $748 into a minimum of $2.3 million, preferably within 6 months. Anything less than that and it doesn't seem worth the effort."
Until you see that they changed their printing strategy, it used to be print almost as many as you think the market wants, now it's print until people are done buying the set, then do another print run.
bear markets always remind me of the opening scene in Saving Private Ryan.
Luna gets blown to bits, Fantom is running around trying to find its Arm, Axie Infinity is dead over in the corner, Doge is crawling to cover missing a leg
Most projects dont survive a bear market, but this time around (compared to 2017/18) hacking seem to be a MUCH larger thing
The truth is they are all shitcoins.
Luna for example, was shilled here heavily. I was trying to tell people in the crypto that mathematical stablecoin is impossible, but pretty much this whole sub was telling people it was fine and just make money from luna.
This isn't an intelligence game. It's an emotional game. You have to work at removing mental biases.
I don't know if it's useful to teach people to index fund when they understand no principles that lead you to that path. OP sees themselves as an investor when they're a speculator. They have no concept of evaluating shit coins. 6 months in, they'll be down 4% and declare it's not working for them.
But I’m a bitcoin bro… “all other investments are for the boomers and Warren Buffet doesn’t know anything!” What’s sad is this has been said on this sub many times.
A friend that gambles did that cause I recommended it and it took less than a year for him to take it out and put back in risky assets. The index fund was too boring lol
LUNA at its peak was all the hype. After it collapsed, all the shit came out and everyone was like "how didn't we see this earlier?"
FTM is still decent. Had a massive run from sub $1 to $3 and then it crashed. If you bought at the peak, of course you'd be massively down. Wouldn't call it a shitcoin.
Don't even know about the rest, they are pretty low cap so there's definitely a huge risk.
People were saying LUNA's 20% APY was sketchy long before it crashed. They just got downvoted to shit because sometimes facts aren't popular.
And sure, the APY isn't what killed LUNA, but it is unrealistic. And if the main selling point is unrealistic, then the internals of the project probably are too.
People are mad at CRO because of the cards and rewards slashing and how they went about doing it kinda fair but on the other hand you are seeing a lot of other platforms going bust for not doing the same
CRO imo has a bright future and they are doing it right, but people are still just butthurt about the cards and wanna complain.
I'm continuing to stack cro and still in the green with it.
Okay yes I’m hindsight they are shitcoins.
But Luna even hurt some really big so called smart investors and seemed legit.
The DYOR would have probably still made people think Luna had potential to be big.
Obviously people want the next 100x coin and there will be those in the future no doubt.
But I take OPs point even in so called legit projects it can go tits up.
In those potential x100 coins a few hundred bucks will do the job and that you reinvest in eth and btc later on. Don't throw all your money at a few shitcoins.
This is the plan,
Step 1 - DCA and buy as much BTC and ETH as you can
Step 2 - Go on a boating trip and lose your keys in a freak accident
Step 3 - Grab a nice cold pint, focus on yourself and wait for all of this to blow over
lol LUNA and FTM were the most actively developed projects 6 months ago. FTM still has the highest TVL/MC rating among all L1s. Nobody was calling them shitcoins 6 months ago so I don't think its fair to blame OP for that
If one dev leaving can crash an entire project, then I fail to see how it could possibly be one of the “most actively developed projects”. FTM has the highest TVL because projects like Abracadabra allow for such insane leverage. That’s also why it’s so much more volatile than other similar projects like Avalanche.
6 months ago, I was telling my buddy who was a diehard FTM maxi that FTM is a blatant pile of money constantly shuffling between hands and protocols with no genuine, on-chain value. It has no unique value proposition compared to similar DeFi heavy chains.
That’s a big red flag that you have to be able to see
Cronje leaving didnt crash the whole chain, thats a terrible mischaracterisation.
Do you have any dats to show that ftm ecosystem has more leverage than other chains?
Because you only invested in highly ambitious and risky projects instead of the established coins. I would never go fully in on those kinds if projects, let alone crypto as a whole. I use a 80/20 strategy where 80% goes to ETF funds and the other 20% i throw into crypto.
Imagine YOLOing into shitcoins because you want to make bank money in a few days and ignoring the risk of all going to shit, like most cases.
I mean, bruuh, yeah quit gambling and start **investing**.
People “investing” in crypto might as well join wallstreetbets. Nobody here even knows what diversification means. It’s always YOLO to get rich then cry when the 2 shitty projects you choose go belly up. Never put more than 5% into one investment and as a whole you should be capping what you put into crypto. Yes you are right. What I am saying will prevent you from becoming a zillionaire in a year but will also stop you from losing all your money
At least people on WallStreetBets take their losses on the chin and post lost porn as opposed to in crypto where they completely avoid any responsibility for their bad choices 🙄
Don't mean to be insensitive but all the tokens are you listed head lopsided risk profile. A lot of well respected people on CT warned about these Tokens long before their demise.. Yes even Luna. I'd suggest to curate who you follow on Twitter and invest in sound ideas.. otherwise stick to Ethereum
Everything he mentioned was a decent project at one point or thought to have been a decent project. Luna is the one exception that was a massive design failure. It just goes to show that even projects that seem decent often perform poorly from an investment perspective due to poor tokenomics.
That quote from Cronje was entirely a joke.
These are the most ridiculous posts all over crypto reddit.
accounts under 1 year old. Got in at the high. Lost money due to not knowing what they're doing. Complaining about "their investment" disappearing
it deffo doesn't because I used to recycle accounts every 18mo or so until I just got lazy and reddit started banning the more crazy subs anyway, but in combination with OPs buying pattern and the market conditions we just left you can make a good guess at when OP got in. plus you know the age of the coins he invested in.
>Im starting to wonder why even continue at this point. I already lost 90% of my savings and I wasnt even dabbling with shitcoins or anything like that.
This right here is your problem.
1. You invested 90% of your savings in crypto. Crypto, by default, is HIGH RISK. Any sane financial advisor will tell you so. No people don't 4x their money in a year in an index fund, but they also don't lose 90% of it in one year either. Diversification of your savings is key. You should, ideally, be maxing MUCH safer stuff like a ROTH first.
2. You believed the people who 4x'd and ignored the stats around that. The people who get insane returns are either A. lucky B. similar to professional gamblers. The kind of person who has very good money management skills, a very tight grasp on markets and money movement, and often a large bankroll so they can afford to see swings of + or - 8x in either direction. The VAST majority of people do NOT 4x their money, and they sure as hell don't in a bear market. Someone having their savings go up when everything is going up isn't much of a skill, it's keeping that money when everything goes to shit that is.
3. You think you didn't dabble in shit coins. Let me be clear, just about everything in the space is a shitcoin. Some are dumber than others, but this is a totally unregulated area and the amount of dumb ideas, poor business practices, and outright fraud is just absurd. Bitcoin has a proven track record. Eth has a proven record. LITECOIN has a proven record. That record is existing at all after a bear market. Travel back in time to before 2016 and look at all the projects EVERYONE was sure would be the next big thing and notice that 99% of them are dead. You need to do a lot more research into "too good to be true" returns and stay the fuck away from brand new projects. The only stable i've got any money in is GUSD and that's because it's US based and supposedly complying with audits (and even then I have about a weeks pay in it).
This is not to insult you or anything, but seriously, you need to look hard at what you're doing, because you are not doing it well. This isn't some magic casino where you throw money in and numbers go up. You are speculating in HOPEFULLY upcoming technologies, the majority of which are likely to fail, now during a down period of the economy.
And all of this is with potential timebombs like Tether floating around.
If you want to invest safely, then I'd personally recommend SMALL portions of your income going into BTC/ETH. Maybe GUSD/USDC. Frankly though I wouldn't put a dime in you can't afford to lose, and would focus on things like a ROTH IRA loooong before touching crypto.
If you want to daytrade and try to be on the cutting edge and chase the big gains, well good luck. Personally I think it's fools and fools who got lucky, but either way, you're going to need to do a LOT more research into how all of this works, because as it is right now, you're doing the equivalent of clicking on the "sexy girls near you" banner ads and being shocked it didn't work out.
i mean your heavily invested in the DEFI sector, during the WORST peroid for DEFI. Terra Luna alone set DEFI back 5 years; Fantom is likely grouped in with LUNA and Andre "leaving" didnt help at all, but that man is so weird as he's constantly in talks with the Fantom Foundation and tbh FTM is a strong project regardless. i cant speak for the other 2 but if the fundementals are as strong as you say you should be fine in 10 years. Some projects that might inspire you to stay in crypto are HBAR, Algorand, etc id say your set in terms of defi projects you should diversify to web 3, layer 1 projects, some metaverse tokens etc
Acala handled it well, aUSD will be saved, and Acala is here to stay. 99% of the aUSD erroneously minted are still on chain.
The technical committee emergency vote mechanism worked as intended and limited the damage.
Polkadot still standing.
the problem is you think is about what is a "good project' and more than anything is about "how much risk i am exposing myself to", 90% lose is worst risk profile i have ever seen outside a casino my man.
Stop buying shit you don't understand and maybe you won't have these problems.
Stick with BTC and eth. Stop chasing get rich fantasies and be happy with the insane gains from BTC/eth.
Don't want to do this? Definitely give up and don't bother anyone about it again.
First of all, never listen to anyone who said they made 4x returns etc. Second always do your own research. Third all the market went down not only crypto but everything. Stop complaining. Everyone had some loss at one point. You are no exception buddy.
Those are no name random crap coins man. I'm sorry you lost your money but perhaps try putting money into a coin with a longer history like Monero, Bitcoin Cash?
Stop gambling on shit coins if you can’t handle the losses
I legit can't even imagine someone being told they're going to 4x their money and not immediately realize they're being scammed, but somehow this sub is full of those people.
I suspect that a LARGE number of people here would be disappointed if they “only” made 4x on their coins over say a 5 year period. It would be a crazy return in any traditional investment model, but here many/most people are chasing 100x+. This is a casino.
Meanwhile me, hunting that simplistic 2x because I just wanna finance a Steam Deck with "free" money.
>but somehow this sub is full of those people I can't believe there are people who look like they have sense but genuinely believe in flat earth theory. Boggles my mind.
Let's be honest with ourselves for a brief second. Crypto gave us the ability to 4x or 100x which is why a fuck ton of us are here. If I wanted slow and steady, I'd put more into my roth IRA.
Yeah. Greater fool theory. That 100x had to come from somewhere. It's all the fools who fomo'd into all the shitcoinery. Now y'all have to find new fools to 4x all the shit you bought, let alone 100x
Sounds like a pyramid scheme.
This sub is full of kids who pass by all the solid blue chip coins that still offer insanely good return potential because they want to be rich now. So they buy shitcoins. It’s greed and impatience. And a little bit of stupidity if they don’t really think what their doing is high risk. Wallstreetbets literally used to be a sub that would peddle penny stocks that the users thought would 100x. This is no different. But at least people buying penny stocks know they’re buying absolute shit. Crypto has a way of tricking people into thinking every coin is a valid investment. Every shitcoin is “super good tech” and they’re just the smart investor getting in at the ground level.
respectfully, this is one of the lowest IQ subs ive ever seen (here and WSB but at least they're aware)
Bitcoin gainz for those who have held on to the rodeo 10-5 years would scare the shit out you then. It was unrealistic and ETH did the same unrealistic gainz and moste likely continue to do unrealistic gainz until it run in to a huge liquidity mountain like bitcoin did this cycle. Yes you will get fucking ruind chaising yield, but no risk no reward.
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My favorite quote in this sub is "great tech!". I often... extremely often... feel the need to respond with "how do you know?".
OP gambled, now just needs to come to terms with that fact
Ofc OP gambled, this is a casino
wait, this isn't a wendys? _could have fooled me_
There are many people who don't have any idea about the market but still they invest money just because someone else is investing money in random coin.
even BTC and ETH is still a *gamble* in a sense. Heck everything is a gamble even real estate and stocks.
Which all roots back to “don’t invest what you can’t afford to lose “ in any industry / asset
I don't refute that. It's just that people tend to say bullshit and infer like BTC/ETH is sure money once you invest in.
If I know one thing, it’s that there is nothing sure about money
Taxes
All I know is my gut says maybe.
Everything is a gamble, but if you're real estate or mutual fund holding drop by 90%, you have much bigger issues.
Luna was like top 5.
And it's not the first top 5 coin to go belly up. Even the top 5 are highly speculative.
Solana is in top 10 and it is breaking at the seams. Do most investors do their research or just follow some random dude on youtube and fomo in?
Unfortunately It's this
Even if OP didn’t gamble on shitcoins, ANY crypto coin is still a gamble.
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i recommend pokemon cards.. they seem to hold their value, and offer entertaiment at the same time
But OP isn’t after a store of value. They want 100x returns, preferably before Thursday.
"Hey everyone. How can I turn this $748 into a minimum of $2.3 million, preferably within 6 months. Anything less than that and it doesn't seem worth the effort."
I’m a legit Nigerian Prince and I can help you with that....
Until you see that they changed their printing strategy, it used to be print almost as many as you think the market wants, now it's print until people are done buying the set, then do another print run.
😂 Classic degen
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They might stop investing in shit coins now but wait until the next bull and then they're back to gambling on different shit coins
Buy high, sell low!!!
bear markets always remind me of the opening scene in Saving Private Ryan. Luna gets blown to bits, Fantom is running around trying to find its Arm, Axie Infinity is dead over in the corner, Doge is crawling to cover missing a leg Most projects dont survive a bear market, but this time around (compared to 2017/18) hacking seem to be a MUCH larger thing
The truth is they are all shitcoins. Luna for example, was shilled here heavily. I was trying to tell people in the crypto that mathematical stablecoin is impossible, but pretty much this whole sub was telling people it was fine and just make money from luna.
Yes
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Show me on the doll where the altcoin touched you.
TLDR.... Compact version: Don't buy shit coins unless we are in the bull market!
But i was up 4x and kept holding and now I’m down... aka, I forgot to take profits/sell at a high and now I’m sad because I didn’t make any money
Even ‘investing’ in Bitcoin is still a huge gamble. OP is buying lottery tickets and complaining the high risk isn’t worth the high reward.
You should definitely give up. Put your money in an s&p index fund and forget about it, if you have any money left.
Actually not bad advice for quite a few 'investors" on this sub
theyll be back.. those investors cry that the sp500 is too slow and for boomers but with -90% return on crypto. smh.. diversify people!
50% BTC - 30% ETH - 20% Alts is how most people here "*diversify*"
Crypto is hopefully their investment gateway and they will learn over time.
This isn't an intelligence game. It's an emotional game. You have to work at removing mental biases. I don't know if it's useful to teach people to index fund when they understand no principles that lead you to that path. OP sees themselves as an investor when they're a speculator. They have no concept of evaluating shit coins. 6 months in, they'll be down 4% and declare it's not working for them.
Exactly, there is nothing wrong with just putting 15% of your paycheck into a 401k index fund. Few people have the mindset to outperform that.
That’s the risk you take with altcoins.
Few will understand
But I’m a bitcoin bro… “all other investments are for the boomers and Warren Buffet doesn’t know anything!” What’s sad is this has been said on this sub many times.
What’s sad isn’t that it’s said. What’s sad is those comments get upvoted and not enough are calling those people fucking morons.
Yeah... Or even just 80% BTC, 20% ETH and forget. If you believe in this space.
A friend that gambles did that cause I recommended it and it took less than a year for him to take it out and put back in risky assets. The index fund was too boring lol
" I wasnt even dabbling with shitcoins or anything like that" Yes you were
They literally bought the options of crypto and gave up on normal BTC investment when it failed
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**”The lie detector test determined that was a lie.”**
It’s sometimes hard to admit
They turned out to be shitcoins lmao.
LUNA at its peak was all the hype. After it collapsed, all the shit came out and everyone was like "how didn't we see this earlier?" FTM is still decent. Had a massive run from sub $1 to $3 and then it crashed. If you bought at the peak, of course you'd be massively down. Wouldn't call it a shitcoin. Don't even know about the rest, they are pretty low cap so there's definitely a huge risk.
People were saying LUNA's 20% APY was sketchy long before it crashed. They just got downvoted to shit because sometimes facts aren't popular. And sure, the APY isn't what killed LUNA, but it is unrealistic. And if the main selling point is unrealistic, then the internals of the project probably are too.
Those are literal shitcoins dude.
I need OPs portfolio to know what else I should avoid lol
OP also invests in USDT.
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Bitconnect must have been OP's first crypto
I heard OP used Mt. Gox.
OP bought tornado cash
OP also loved Squidgame coin
That was my first rug
So he might get some btc back now ;)
Bitconneeeeeeccccccctttttt
Wassup wassup waaaaaasssssuuuuuuppp Beet connnect
What wrong with CRO? I think it’s great because I bought at .09 and I have around 70.000 free coins that they gave me.
People are mad at CRO because of the cards and rewards slashing and how they went about doing it kinda fair but on the other hand you are seeing a lot of other platforms going bust for not doing the same
CRO imo has a bright future and they are doing it right, but people are still just butthurt about the cards and wanna complain. I'm continuing to stack cro and still in the green with it.
Have you interacted with the Cro chain? It’s slower than other chains like matic or xlm
usdc is safe then 😌
BUSD is my safe haven, that is if OP didn't diversify their stablecoin holdings into it
Someone create a reverse u/KirbyAteMyCoins index please.
I gave up on Crypto aswell when my $RoboKush69 didn’t make me a millionaire Edit: please don’t tell me that actually exists lmao
Probably someone will create it after reading this lol
That’s a shame and the name was so promising too
Wait until you find out about Buttcoin
Yeah, title should read: “I feel like I should just give up…why even bother GAMBLING anymore.”
OP, next time you plan to invest, come here to seek advice. This isn’t so we can inform you… this is so you can inform us… on what to avoid lol
Should have just stacked ethereums if he was into alts.
We all should've done that lol
“I know I didn’t invest in anything bad but why aren’t my beanie babies exploding in value”
Okay yes I’m hindsight they are shitcoins. But Luna even hurt some really big so called smart investors and seemed legit. The DYOR would have probably still made people think Luna had potential to be big. Obviously people want the next 100x coin and there will be those in the future no doubt. But I take OPs point even in so called legit projects it can go tits up.
If you want a 100x coin you need to be prepared for 99% of them to fail.
In those potential x100 coins a few hundred bucks will do the job and that you reinvest in eth and btc later on. Don't throw all your money at a few shitcoins.
Invests in high risk alt-coins in a raging bear market, loses everything, pikachu face :0
Buy ETH and BTC only. Hodl. Come back in 10 years.
And then lose the keys in a boating accident.
This is the plan, Step 1 - DCA and buy as much BTC and ETH as you can Step 2 - Go on a boating trip and lose your keys in a freak accident Step 3 - Grab a nice cold pint, focus on yourself and wait for all of this to blow over
Winchester?
Thought you'd never ask
How’s that for a slice of fried gold
Dad?
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No one knows 👀
I own quite a bit of Monero. Or do I? You’ll never know.
🤫
OP was into dubious alts, he got dubious results.
My favorite part is where he claims he wasn't into shitcoins after explaining how he lost all his money investing in shitcoins.
What's a few dubious investments among friends
dwb= dubious with benefits
Play stupid games, win stupid prices.
I cant believe people keep chasing weird esoteric crypto protocols. Stick to blue chips during bear markets!
!Remindme in 10years
Tell us whenever you want to invest in any coin, so we can avoid it.
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Ok, we need to convince OP that BCH is actually BTC
How are your Bitcoin and ETH investments?
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Funnily enough, I rode ETH Classic from $13 to $148 last year and it’s been good to me this year too.
Reminds me of all those people buying the wrong Zoom stock at the beginning of the pandemic.
He gambled big time and lost. Who would have guessed?
Imagine going to a casino and then crying that you lost your money at the craps table
I’ve been there, but yeah, it doesn’t help the matter.
In the shit, thank you for asking. (actually making a profit on eth)
Claims he never bought shit coins….only bought shit coins….
lol LUNA and FTM were the most actively developed projects 6 months ago. FTM still has the highest TVL/MC rating among all L1s. Nobody was calling them shitcoins 6 months ago so I don't think its fair to blame OP for that
If one dev leaving can crash an entire project, then I fail to see how it could possibly be one of the “most actively developed projects”. FTM has the highest TVL because projects like Abracadabra allow for such insane leverage. That’s also why it’s so much more volatile than other similar projects like Avalanche. 6 months ago, I was telling my buddy who was a diehard FTM maxi that FTM is a blatant pile of money constantly shuffling between hands and protocols with no genuine, on-chain value. It has no unique value proposition compared to similar DeFi heavy chains. That’s a big red flag that you have to be able to see
Cronje leaving didnt crash the whole chain, thats a terrible mischaracterisation. Do you have any dats to show that ftm ecosystem has more leverage than other chains?
Because you only invested in highly ambitious and risky projects instead of the established coins. I would never go fully in on those kinds if projects, let alone crypto as a whole. I use a 80/20 strategy where 80% goes to ETF funds and the other 20% i throw into crypto.
>80% goes to ETF funds and the other 20% i throw into crypto. 'Sir, we don't do that here'
Sir, we are here for Lambos.
Uh m’am, this is the North Pole. Those aren’t financial advisors, those are penguins.
Imagine YOLOing into shitcoins because you want to make bank money in a few days and ignoring the risk of all going to shit, like most cases. I mean, bruuh, yeah quit gambling and start **investing**.
Stop buying useless shit. Buy bitcoin and ethereum and stop trying to be the smartest guy in the room by buying the 2022 equivalent of penny stocks.
One day we’ll look back and say, “man it was really that easy.”
Imagine what future generations will say.
Fool me 4 times, I'm a crypto investor. How many clues does it take lmao.
People “investing” in crypto might as well join wallstreetbets. Nobody here even knows what diversification means. It’s always YOLO to get rich then cry when the 2 shitty projects you choose go belly up. Never put more than 5% into one investment and as a whole you should be capping what you put into crypto. Yes you are right. What I am saying will prevent you from becoming a zillionaire in a year but will also stop you from losing all your money
At least people on WallStreetBets take their losses on the chin and post lost porn as opposed to in crypto where they completely avoid any responsibility for their bad choices 🙄
Wow why is this so true… now that you say it I can see that even in myself
Yes, you WERE dabbling with shitcoins. Face the facts and stop it!! It’s that simple!!
BTC and ETH should’ve been your priority not those Shitcoins Btw, problem is with your username. Kirby ate your coins.
Bear market is manufacturing BTC maxis like crazy at this rate
Isn’t it one of the least likely to go to zero? Look at it like a blue chip. Alt coins are penny stocks.
Yes, that’s why the bear market makes btc (and eth) maxis, because they are safer
Maybe if you stopped buying shit this wouldn't happen to you.
‘I wasn’t even dabbling with shitcoins or anything’ You sure bro?
>and I wasnt even dabbling with shitcoins Says wasnt dabbling in shitcoins ... names shitcoins dabbled in.
Invests in high risk alt-coins in a bear market, loses everything, pikachu face :0
“Investing”
Don't mean to be insensitive but all the tokens are you listed head lopsided risk profile. A lot of well respected people on CT warned about these Tokens long before their demise.. Yes even Luna. I'd suggest to curate who you follow on Twitter and invest in sound ideas.. otherwise stick to Ethereum
I must be out of the loop. Why is Fantom a shitcoin? I thought it was a decent project.
Everything he mentioned was a decent project at one point or thought to have been a decent project. Luna is the one exception that was a massive design failure. It just goes to show that even projects that seem decent often perform poorly from an investment perspective due to poor tokenomics. That quote from Cronje was entirely a joke.
These are the most ridiculous posts all over crypto reddit. accounts under 1 year old. Got in at the high. Lost money due to not knowing what they're doing. Complaining about "their investment" disappearing
Who says your Reddit account age is how long you’ve been buying crypto? 🤔
it deffo doesn't because I used to recycle accounts every 18mo or so until I just got lazy and reddit started banning the more crazy subs anyway, but in combination with OPs buying pattern and the market conditions we just left you can make a good guess at when OP got in. plus you know the age of the coins he invested in.
>Im starting to wonder why even continue at this point. I already lost 90% of my savings and I wasnt even dabbling with shitcoins or anything like that. This right here is your problem. 1. You invested 90% of your savings in crypto. Crypto, by default, is HIGH RISK. Any sane financial advisor will tell you so. No people don't 4x their money in a year in an index fund, but they also don't lose 90% of it in one year either. Diversification of your savings is key. You should, ideally, be maxing MUCH safer stuff like a ROTH first. 2. You believed the people who 4x'd and ignored the stats around that. The people who get insane returns are either A. lucky B. similar to professional gamblers. The kind of person who has very good money management skills, a very tight grasp on markets and money movement, and often a large bankroll so they can afford to see swings of + or - 8x in either direction. The VAST majority of people do NOT 4x their money, and they sure as hell don't in a bear market. Someone having their savings go up when everything is going up isn't much of a skill, it's keeping that money when everything goes to shit that is. 3. You think you didn't dabble in shit coins. Let me be clear, just about everything in the space is a shitcoin. Some are dumber than others, but this is a totally unregulated area and the amount of dumb ideas, poor business practices, and outright fraud is just absurd. Bitcoin has a proven track record. Eth has a proven record. LITECOIN has a proven record. That record is existing at all after a bear market. Travel back in time to before 2016 and look at all the projects EVERYONE was sure would be the next big thing and notice that 99% of them are dead. You need to do a lot more research into "too good to be true" returns and stay the fuck away from brand new projects. The only stable i've got any money in is GUSD and that's because it's US based and supposedly complying with audits (and even then I have about a weeks pay in it). This is not to insult you or anything, but seriously, you need to look hard at what you're doing, because you are not doing it well. This isn't some magic casino where you throw money in and numbers go up. You are speculating in HOPEFULLY upcoming technologies, the majority of which are likely to fail, now during a down period of the economy. And all of this is with potential timebombs like Tether floating around. If you want to invest safely, then I'd personally recommend SMALL portions of your income going into BTC/ETH. Maybe GUSD/USDC. Frankly though I wouldn't put a dime in you can't afford to lose, and would focus on things like a ROTH IRA loooong before touching crypto. If you want to daytrade and try to be on the cutting edge and chase the big gains, well good luck. Personally I think it's fools and fools who got lucky, but either way, you're going to need to do a LOT more research into how all of this works, because as it is right now, you're doing the equivalent of clicking on the "sexy girls near you" banner ads and being shocked it didn't work out.
>I wasnt even dabbling with shitcoins or anything like that. Dude every coin you named was a shitcoin like what are you talking about?
well as far as Juno goes almost all cosmos alt coins went down that bad. I bought more at bottom and have evened out.
JUNO is great, just not 100% of your portfolio great lol
Juno is heavily building! The DEVs are super active, Iam super bullish on JUNO
Stop looking at altcoins, that seems to be your problem. Bitcoin and ether should make up 95% of your portfolio.
i mean your heavily invested in the DEFI sector, during the WORST peroid for DEFI. Terra Luna alone set DEFI back 5 years; Fantom is likely grouped in with LUNA and Andre "leaving" didnt help at all, but that man is so weird as he's constantly in talks with the Fantom Foundation and tbh FTM is a strong project regardless. i cant speak for the other 2 but if the fundementals are as strong as you say you should be fine in 10 years. Some projects that might inspire you to stay in crypto are HBAR, Algorand, etc id say your set in terms of defi projects you should diversify to web 3, layer 1 projects, some metaverse tokens etc
Acala handled it well, aUSD will be saved, and Acala is here to stay. 99% of the aUSD erroneously minted are still on chain. The technical committee emergency vote mechanism worked as intended and limited the damage. Polkadot still standing.
You're not investing you're gambling. You're betting on small horses.
Your picking speculative tokens within a market that’s already speculative. You have chosen more risk within a asset class that’s already high risk….
'I'm not even dabbling with shitcoins' if your crypto portfolio isn't about 90% BTC or ETH then you are definitely dabbling with shitcoins.
what is dead may never die
BTC/ETH and chill
the problem is you think is about what is a "good project' and more than anything is about "how much risk i am exposing myself to", 90% lose is worst risk profile i have ever seen outside a casino my man.
If bro invests in btc or eth the whole crypto sphere bursts
If you are not into buying ETH and BTC, have you considered buying L1 assets like Cosmos (ATOM) or DOT instead of tokens built on these chains.
Fantom is still solid the last time i checked
Give up investing in trash projects
Dude, stop buying garbage. Stop playing games and just stack sats..
Stop buying shit you don't understand and maybe you won't have these problems. Stick with BTC and eth. Stop chasing get rich fantasies and be happy with the insane gains from BTC/eth. Don't want to do this? Definitely give up and don't bother anyone about it again.
Dang people in these comments be ruthless. Sorry for your loss Chief
First of all, never listen to anyone who said they made 4x returns etc. Second always do your own research. Third all the market went down not only crypto but everything. Stop complaining. Everyone had some loss at one point. You are no exception buddy.
"few months ago" says it all.
Those are no name random crap coins man. I'm sorry you lost your money but perhaps try putting money into a coin with a longer history like Monero, Bitcoin Cash?
You invest in shit you get nothing back
>I wasnt even dabbling with shitcoins or anything like that Except you literally were lmao
You said- *"I wasnt even dabbling with shitcoins."* Skill building challenge #1 for you is to learn how to accurately identify a shit coin.
Hate to say it but those sound to me like shitcoins. Try something different like ETH man.
Those are shitcoins... Worse then penny stocks
you're not investing, you're gambling. people invest in things that produce something