By - false_thr0waway
‘Never invest what you cannot afford to lose’.
Why is this advice so often ignored?
"Because you just dont understand crypto, bro"- annoying crypto bro
I'm not your bro, dude
Im not your dude, friend
Im not your friend, pal.
I'm not your pal, guy.
I’m not your guy, man.
Im not your man, buddy.
I'm not your buddy, bro.
I'm not your bro, chief
I'm not your buddy, guy.
I'm not your guy, mate
Im not your friend, my friend.
I'm not my friend, your friend.
I'm your bro, bro :)
Can’t afford a shotgun after wasting entire life savings on crypto
“What can I do with $5?”
“Buy a bullet and rent a gun!”
$5 dolluhs would get you a hell-of-ah time at the suicide booth.
If you're in Europe, 5€ should be enough for a nice rope
Tried to dip a bit in crpto, used maybe 150 dollars worth. Didn't get anything back. Did I lose my house? No.
These people are the first ones to fall into quick-get-rich-money schemes.
Are there any non-annoying crypto bros?
It's not just crypto. My cousin lost a lot day trading on Robin hood
Yeah you can cryptBro Deez nuts.
Crypto-dudes will constantly flip between two modes:
1. You're a moron if you buy crypto and lose money
2. You're a moron if you don't buy crypto because you don't want to lose money.
In my experience, people on the internet would call anyone a moron. Even with no crypto involved.
Yeah I bet you would say that, moron
Typical moron response
Source: am moron
noticed the lack of /s
They're like every other gambler. If you win, you're on a hot streak so you need to buy more. If you lose, you need to win back what you lost so you need to buy more. There is no "get your money out now", they are addicts.
Because the tiny amount people have gotten rich by dumping every penny they have (including taking loans/ credit) into extremely sketchy crypto or option contracts.
They see one guy turn $50K into a couple million and they figure it must be easy to replicate.
You need to be rich to make gains like that cuz you can have a bunch of investments and wait for one to pay out and they never place all their money in one place. Had some idiot at work the other day say that Bezos made 1/3 of all his money on crypto and that's why she's gonna invest $500 in crypto and I just basically walked away from her
>You need to be rich to make gains like that
110%, that's what people don't understand. When I was 20-21 I put all of my savings (about $10-10.5K) into BTC in between $250-$450 back in 2014-2015. Basically everything I had to my name at the time besides my 401k that was fairly young. Basically just intended to use it as my savings and watch it.
Obviously BTC did very well for me going into 2017. Problem was I had a large amount of money in BTC now but no cash in the bank. I was coming up on 23 years old and I was driving a shitbox that I had owned since 16-17 years old, I was renting a room instead of having my own place, etc. I also didn't have money growing up so the fact I even saved up $10K was a huge deal.
I don't know how many times I woke up and I was down 30-40% and was sick to my stomach that I basically had just lost more money then I was making in a full year at my job. The rollercoaster started taking a real toll on me emotionally.
Ended up selling most of it pretty early in 2017, bought/ built a nice new car, moved out into my own house, put some money into other investments, and I don't regret selling any of it back then even if it was, "early".
After you make 10X-20X gains on something when you don't really have any wealth, you would be crazy to not sell it as well.
based you did well my friend.
yeah, it's totally this.
i was lucky and got into binance when it was trading between $5-10AUD and again between $40-60AUD. it's now trading at 450AUD and peaked at $950. i sold a little bit off of my total when it was trading above $900 because I subscribe to the view that around big round numbers the price tends to correct down.
that left me with a big bag of cash that I could move into a lot more speculative alts with the view of if I put 5k into 20 different alts I only really need 1 of them to blow up and I will be set for life. if they don't it's not like I'm hurting. even after everything going on the market I'm still sitting on a boardering of 7 figure portfolio.
yeah, I feel you with the watching your portfolio wildly swing. it's something while it's easier to deal with now its still stressful to lose 100k+ in a matter of a week. I do make 100k a year at my job so I'm doing fine, but still to lose a years worth if not more of profit is never something I'm ever going to fully get used to.
The rich thing is bang on. To be a good investor you need to be regularly skimming your profit. If you’re putting in chiclets ($500-1000) as capital it hardly seems worth skimming the profit. It gets eaten by fees.
Another rich get richer scenario
> If you’re putting in chiclets ($500-1000) as capital it hardly seems worth skimming the profit.
Sort of. But you can find brokerages that trade at low cost. Of course, short-term trading results in bigger taxes. Back in the nineties, I followed some radio guy that had me buying inexpensive stock and immediately selling for $1 a share gain, waiting and rebuying on the dip. Started with his pick, some long-gone waste company. I built $400 into $20k over five years or so but lost almost all of it even faster when I failed to pay attention to a couple of terrible earnings reports because my dumbass believed that the method was more important than the reality. A friend tells me that he has had success using this method recently with Nokia but he is doing it in an IRA so he doesn't have the short-term tax problem. Of course, I just now realized that I am also ignoring in this rant that the market is different 30 years later and $500 isn't what it used to be. I'm old. Sorry about that. Rose-colored glasses and other shit I suppose.
If she only has $500 to spend, the best way to do it would be to spend $20 every week on a different $0.0001 shitcoin. $500 would last 25 weeks and one of the 25 might make something. The research on shitcoins would be a good time killer and the odds would be as good as a lottery ticket.
If it's easily to replicate, nobody would be making significant gains.
It's a Ponzi scheme, somebody has to make gains for anybody to make losses.
Anon is going to panic until he breaks even or gets a “close enough” small loss, get his money back, completely swear off crypto for the next 5 years while it slowly-but-unstably grows, then FOMO in, panic over it still being volatile, sell at breakeven, and repeat the cycle all over again.
Well in the picture, it looks like he bought at $29,500. BTC is currently trading at $29,286. He could literally just sell it now and have most of his money back. It goes up and down, shit happens.
Because everyone wants to get rich quick
Because no one sees "investing" as what is really is "gambling".
its fucking /biz/, its wsb but somehow shittier
At the bottom of the bear market /biz/ has all the correct plays though. It only gets shit in a bullmarket.
Invest a few hundred at most. You can make a decent return, but if you lose it then it’s not an incredible amount of money.
Because people are enamoured by the fantasy of seeing their money multiplied by 100, and think it’s guaranteed. Leads to the horror of what’s going on on r/terraluna.
20% returns were advertised. You have to be stupid to believe that would work
Because most people can’t afford to lose anything so they throw in everything
I honestly will never understand. If your money is in the market whether it be stocks or crypto you have to pretend that money is GONE and there is a real possibility you will lose every cent of it. People go right past that thought and invest too much and get themselves in a bad situation. It will happen over and over because SOME people made a bunch of money.
Cuz it's a sure thing, bro! Can't go down
Because crypto is too full of toxic positivity ava permabulls.
If you're in this space you need to follow people who think more neutrally or you're gonna have a bad time.
Finally, $100k end of 2021.
It's too many words, "buy the dip" is easier to remember.
Because crypto is a cult.
Gambling is one hell of a drug
>This is 95% of my savings
>I barely have enough money for food and rent this month
What kind of retard counts money set aside for bills as "savings"?
must've bumped his knee in America
*wall of text explaining how Lithuanian's technically have better Healthcare*
Most Americans have as much access to American healthcare as the average Lithuanian
I don't have access to any Lithuanians, let alone an average one.
No they have access they just can’t afford it
Anon hasn't figured you don't have to buy a whole bitcorn
But what do I tell pa' during the harvest season?
Lots and lots of people. I work at a bank, and it's like people are tricking themselves into believing that they're magically being better with their money just because they've opened a "savings" account. So now, instead of getting a deposit every month and spending at least all of their money about a week before their next deposit, now they deposit half of it to a savings account only to move money out of it every few days until they're in the exact same position, but with two accounts.
Me too. Makes me think whether or not I need to spend some if I have to transfer rather than just tap my card
Damn but I used to be that dude...every paycheck had part going into savings and every month I had to dip into savings to pay the bills. Hell, I remember selling CD's (Compact Disks not Certificates of Deposit) so I could pay rent.
It took me a long ass time to get this figured out - how to live within my means and progress towards putting money aside.
I ain't gonna lie...it's almost surreal to look at my account now. Like, that's *mine*? That's *my money*?
The funny thing (at least to me) is how badly I **don't** want to spend it. Like I can totally afford to buy so much more now...frivolously even...but the memories of those dark days are so much more powerful.
I'm the same way with my money. I'm extremely frugal, and always was well before I worked in banking. For every non essential purchase I make, I have to decide if it's adding more joy as, say, $50 spent on a video game when I have several that I still enjoy playing, or 50 more dollars sitting in my bank account for when I need it. Knowing I have money is so much more valuable to me than most things I could buy with that money.
I wasn't at all when I was younger. I both didn't pay enough attention today nor thought about tomorrow enough.
It was a combination of my suffering + seeing my friends being able to do so much + seeing the long term impact of that same sort of lifestyle on my parents that got me to work on this seriously.
On that note - mom worked in banking for decades and they were constantly in debt (and did things to "deal" with it that I don't even want to talk about). Growing up I thought that is how it's supposed to work. After all, she's a financial professional! Oh how wrong I was.
And that bit...
>Knowing I have money is so much more valuable to me than most things I could buy with that money.
Hell yes. Not fearing rent nor getting super excited over payday. Being comfortable and secure. Like yeah, my phone is old now. Sure I could buy a new one. But seeing that balance & the sense of security from the trials and tribulations is worth so much more.
“Family and bills” is about the worst. His stupidity affects others
At that point why wouldn’t you just send the full 100%
What part of anon's monkey brain possessed him to invest ALL of his available cash to the point where he can barely afford food?
If you're dead set on making braindead investments at least leave yourself with like $2000.
It's OK bro, he'll settle for doubling his initial investment within 1 month.
Such a humble guy
Can you believe he's not even demanding a 3X
inb4 diamond hands. This guy doesn't exactly have a level head when it comes to money.
He wouldn't go into the crypto casino if he did...
100% he would if he hits anything like a 2-3x, then he just flat out dumps it into the next thing that sounds anything close to legitimate. BTC first, Lama NFT's with hats next.
Fuck NFTs, I'm gonna invest all my money into real lamas with hats.
You could fuck the lama in a hat too, instead of getting fucked by some crypto ponzi scheme
Lmao right? That was the funniest part. You'll settle for an incredible result? That's the settling?
Double every month for a year. Doesn’t happen except 12 straight reds.
I once flipped 10 straight heads. Called tails each time.
Thats what had me rolling just wants 100% return. Swear these investors in their early to mid 20s coming off this crazy wild west crypto and bull market run high thinking 100% return in a feasible return on capital
That being 95% of his saving he did leave himself with $1980 to fall back on.
You think $2000 is enough to keep anon fed?
I figured it would be enough to keep him fed until his next pay check. Turns out anon sent all of his money into the Aether before his bills were due that month.
For a week
Anon deserves it for saying he would be happy with „just a 2x return“. You fucking moron, even the best asset managers only make like 30% a year at most.
I hope anon loses it all because of his ignorance and smugness
I am genuinely concerned that this is real and this man actually supports a family.
As long as he posts his loss porn I'll be sufficiently entertained
Isn't this post just implied loss porn anyway?
It's only loss porn if OP posts sell history
fake and gay 4chinners don't have families
This guy probably isn’t a 4chinner, just someone absolutely too ashamed to post this anywhere where he can be identified.
Whose... Whose basement do they live in then?
Well if he is this stupid maybe his genes are best left out of the pool
I genuinely feel bad the people who fall for this. He's going to loose all his money coz of the crypto bros shilling this shit as a get rick quick scheme.
Life is hard. People work long hours. Inflation is fucking with everyone, and when it feels like the economy is putting your dreams on hold after slaving away at your crappy job for years, you can see how people can be suckered in. I mean there are people who made 1000x gains on a lucky crypto investment before it got popular, and I don't blame OP for wanting to make some cash like they did.
Yeah but being so stupid as to put 95% of his money into a notoriously volatile investment is not a good look
Don't get me wrong, it's fucking retarded. I'm just saying I understand why people might fall for this shit.
The bitcoin subreddit was so depressing after the initial dip. The first few were “haha you got your just desserts” but then it was post after post of people losing their life savings, retirement fund, their kids college funds, etc. Reap what you sow and all but you gotta feel bad for the family members they fucked over with their ignorance.
This is 4chan. Anon does not have a wife, kids, or $37,000.
Don’t worry it’s 100% not. The “happy with it just doubling” is a dead giveaway.
Doesn't matter if this one is fake because there is no doubt someone out there who has actually done this exact thing
My thoughts exactly. People sometimes think when they invest like 1000$ they will become millionaires. In which world do they think they live.
"if I bought 1000$ of Bitcoin in 2009 I'd be rich!"
No, you would've pulled out when your balance got to 5000$ for the first time. The only people who actually turned a single paycheck into millions are the ones who forgot about it or the get-rich-quick morons who did it by sheer dumb luck. And for every one of those morons there's thousands who lost it all in a similar way.
Whenever people say stuff like that I always think about how it's the same as saying if you knew the lottery numbers a day early you'd be rich. Like yea, no shit. Hindsight is 20/20
100% correct in my case. I sold immediately when I found my password notebook and paid for things I needed, like a house. If I had held it, I'd be a millionaire. Do I regret that decision? FUCK NO. What if it had tanked to $20? Nah. I'm glad I sold, even though I could have made better decisions with knowledge of the future.
It does happen (well, not from $1000 to a million, but you know what I mean), but an average Joe would have to be incredibly lucky
Ding ding ding. Maybe 1000 dollars would become a million dollars..... after 150 years at current market trends.
I think if someone is giving you a 30% return you should probably realize you're neck deep in a ponzi scheme & get out before it collapses.
b-b-but this guy on wallstreetbets had 5k in Netflix options and made 50k! Clearly that is something based in skill and not random gambling chance or insider information
The best asset managers have made far more than that in a year.
Oh god, that last sentence. I met up with an old friend, he brought up how he invested in Doge coin. I laughed, he laughed, and then he said, "whatever man, if I even just 2x my money I'll be happy."
So I laughed harder.
If I could double my investments every couple months I would be the best investor on the planet. No idea why these dumbasses think that's a normal return rate
Addicted to seeing dogshit like doge and shiba go parabolic and think they can catch the next one
The crypto bubble caught everyone off guard. Some of the early investors made 1000x gains or more by buying in at the right time. When you look at people who now drive a Lambo from a $5 initial investment, you can see how people have skewed expectations.
i’m pretty sure that even today you can inwest 5$ into something that will go boom in 10 years, as for what that is? idk, i’ll know in 10 years and be angry i didn’t put my 5$ into it
Invest into me. You give me 5$ now, and in 10 years i will give you 5000 (maybe).
Give me 5000 now and in 10 years I’ll give you 5 dollars
make it 5.000.000$ + lambo and i'll consider that option
If you're expecting the emergence of an entirely new entirely unregulated global financial market more than once in your lifetime you're going to be sorely disappointed.
It was an extremely rare historic event that a handful of people lucked into, the problem is everyone now thinks it's a normal occurrence.
The point isn't financial markets. It's unknowable unknowns, as I'm sure you know.
A quick google shows that if you invested in Monster Energy in 2002 your 20 year return is around 87560%. And it started as "Hansen Natural Corporation", a fruit juice company, since 1930.
For all we know some company that used to make plastic bags will stumble into a cheap better option that captures the majority of all plastics.
It would be great to find such a company and get in on the early days. But that's really just complicated gambling, which is incidentally fun and where most people lose.
Yes, this, there are numerous of such opportunities. Your chance of finding them are abysmal though. But of course if enough people play, very few will be lucky.
At the moment i cant for the life of me remember who said it, but it was pretty prominent investor. He said that crypto and the last two years bullrun in stocks has ruined a whole generation of traders because they dont understand gains at all. They expect unrealistic returns on every investment and in the process looses out on potentialy alot of money.
I had a friend that had 600 bucks in doge in mid 2020. He had like 90,000 coins. He was going on and on about it doing well and me and my friend called him stupid. He sold it at a slight lose early Jan 2021. He would have had 60kish if he sold at the doge peak, or even if he held till today, it would have been like 4.5k. He had so much conviction when telling us about it, and sold just a tad bit too soon.
It’s all about timing, and if you got timing down, then you’ll make money off of everything.
I got AMD stock back at its lowest point (2019?) like a $1.40 a share, when folks were talking about “will AMD survive” etc. I knew better, and that Intel is dysfunctional in general.
Anyway, I bailed when it got to the $20 range and got myself some nice things, but you can’t get too greedy, and my experience has been that I have never been able to time an exit at a peak, but I have many a time waited too long, and lost a few bucks that I could have saved if I just left when the itch started.
It’s really just educated guess gambling with individual stocks, so I stick with index funds these days, as I found (aside from my AMD buy) I rarely beat indexes on their returns, and I’d rather not make my own mutual funds.
an over 10x return on investment is still really good
it is easy to get 2x and way more at the begining of something. F i would have invested 10 dollars in bitcoins back in 2011/12, i wouldnt need to think about my future that much.
If you had invested $10 in bitcoin in 2011/2012 and saw it double, triple, or 10x, would you have sold it though?
For the most part, the people that got rich on crypto are the ones who bought in early and forgot about it.
Agreed. I would probably sell it as soon as it hit 2x, thinking I'm gonna lose money
How did anon get "use 95% of your life savings to invest in a notoriously unstable asset" from "buy the dip"?
Has anyone fumbling around with crypto struck you as somewhat intelligent so far?
He should have waited for a bigger dip
"I'd be happy with doubling my money."
No shit, mate. You should be happy with literally getting your money back, of even most of it at this point.
Motherfucked should be happy with not getting divorced and barred from seeing his kids
>I'd be happy with doubling my money.
If only life was like RuneScape
You mean going 300k dollars in debt because you let people lend gold to you with a 200% return?
Fortunarly that's fake. Or it's Darwin's law
You have met real people right? Just read the crypto thread. People are not made equal.
Good let em starve
It's a week later, and Anon is up $400 if they didn't bail out. Who the fuck cares.
These pussy paper handed bitches buy high risk shit and expect it to only go up. It's insane how uninformed they are. I'm down 50% on some triple leveraged tech etfs right now, do you think I'm worried? No, because I only put in what I could afford to lose and because I understood when I was doing it that the market could continue dipping and I might have to wait a very long time to see returns (and average down at the same time).
It's literally the name of the game when you invest in risky stuff. People don't get it.
Also, wait until the market crash when they announce a recession in the coming month. It is going to be a black day for this idiot if he's not already out.
Peep that fee tho
Oh god you're right
Lmao, 2x return. Talk about choosy beggars. 2x is an elite turnaround in any investment. Anon deserves to lose his money.
Anon goes broke later
Anon going to have to enter the world's oldest profession in order to feed his family.
Ah yes... The usual "I put all my life savings in crypto and now is down" retard. lols
Put life savings into an index fund and ONLY use play-money for crypto lads, if you really want to...
Bold to assume anon knows what an index fund is
its le epic vr headset from volvo guys
"just a 2x return" BWAHAHAHAHAHAHA
Jesus Christ those crypto bros are absolutely delusional. They have no idea what a fucking gamble this is.
"Honestly guys, red or black? You need to tell me which one. I only expect a 2x return"
anon is unironically the most retarded fucking idiot in existence holy fucking shit
"I'd be happy with a 2x return"
_“Never test the river’s depth with both feet.”_
— Warren Buffet
$1400 in fees? And people call free brokerages crooks?
But this is better than banks because it's all decentralized bro!!
Great, so customer service is even shittier
Just wait four years and people will be interested in crypto again, just like how they were in 2016 and the years after
Anon has watched Matt Damon’s Coinbase commercial too many times. I guarantee you that Matt Damon wasn’t paid in crypto. Don’t take the Damon pill.
What a moron. I blame wall street bets for making people think prices skyrocket overnight. Bitcoin has been a pretty slow burn for the past few years. The only people who are breaking even are the ones who have been sitting on their wallet for a while or sold at the ATH last year
Wallstreetbets used to be hilariously fun when it was a bunch of guys knowing they were gambling and throwing away some side cash on options bets. Gamestop, AMC, and crypto fucked it because all of the sudden a bunch of people who don't even know the difference between a stock and an option is decided gambling their entire life savings on meme shit was smart. Seriously I think I finally left WSB after seeing some post from a kid who was freaking out because he bought $10,000 of WAY out of the money options that expired at the end of the week and had no clue why he had lost like 75% of his money even though the stock had went up. And that's before you get into the cult "superstonk" attitude that has metastasized to every stock market related sub that might as well be branded flat-earthers for economics.
Anon fell for the crypto to the moon meme
Pshh is that all, 2x. Why didn’t you say so
What kind of meathead goes all in on Bitcoin? Only invest what you can safely part with and if you invest your bill and food money, well you're a fucking idiot.
Buys crypto in a bear market "WhY aM i NoT rIcH yEt?"
You'll be baffled by seeing how many people invest pretty much ALL of their money into crypto and expecting to be rich sooner or later. The r/terraluna sub was filled with people considering suicide after it crashed (if you haven't heard about it, LUNA was worth about 80 dollars and now it's sitting at $0,00018385). It's insane, and sad to see.
What could go wrong with buying fake internet money that has no practical use in reality and was originally intended to buy drugs and people off the dark web?
Anon won't have those burdens to contend with much longer if they continue being so wise.
Feel bad for Anon's (fake) family, but totally deserved for him.
bro the cryptomarket is burning up, its not smart to buy anything and sell what you got before youre dirt poor
Lmao and its been stable at 29k-31k. What a fucking dumbass
Lol got another one boys
DOKTOR, TURN OFF MY SPENDING INHIBITORS
I’d be happy with 2x 😂
It might die, it's had upswings during bull runs and volatile times. This is a full blown financial crisis. We don't now when the next up swing will come and the volatile part is the attractive.
But it's still backed by the black market so it's probably not going to die. Though the next money gain might take a year.
Anon is a fucking moron who has fallen for the most obvious scam on earth.
Bitcoin will most probably bounce back, and I don't think it's unreasonable to believe he could 2x his investment BUT....who the fuck said that would be in the near future? My man could be waiting 2-3 years for that 2x, hopefully it stabilizes a bit and he can at least use it as a way to avoid inflation lmao.
Edit: Also, dumbass could have bought ETH and staked it for a safe return of 4% APR, but nah, let's just gamble it all.
Even just 2x returns ha ha ha
Crypto is backed by hype. Just hope Elon or someone mentions it soon, or you’ll be waiting awhile
BTC dropped nearly 50% in 6 months, there was solid uptick in stock market last several days and crypto jumped from the balcony regardless. Even God himself can't pump it right now.
This guys brain dead and deserves a divorce
Anon just buy the dip....
A case study of why you don't invest more than what you can afford to lose
Hope you can find a box big enough for a family
Alternate title: Anon loses custody of the kids in under a year