Tony Yoo, at home in Playa Vista, Calif. Mr. Yoo, a financial analyst in Los Angeles, invested more than $100...

>Tony Yoo, at home in Playa Vista, Calif. Mr. Yoo, a financial analyst in Los Angeles, invested more than $100,000 of his savings last fall. At their lowest point, his holdings dropped almost 70 percent in value.

nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html

Attached: 20bitcoin03-superJumbo.jpg (1765x2048, 295K)

Other urls found in this thread:

99bitcoins.com/bitcoinobituaries/
twitter.com/SFWRedditImages

Shoulda analyzed better lmao

that's nothing compared to how much i've lost

Attached: ICGOOKED.png (1243x198, 12K)

>Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.
>She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.
>He said he now felt like he had wasted 10 months of his life trying to play the markets.
>Mr. Roberts, the British investor who has seen most of his $23,000 vanish, is holding onto his coins in case they turn around.
>But for now he has stopped trading and is looking for another job.
Very sad.

Attached: 1527308334929.jpg (1125x858, 61K)

/thread

kek, you literally almost bought the top

Is this depression or fear?

Attached: B1C8AF7D-8392-4535-8E31-E28BA4C98FCD.png (646x595, 323K)

Yoo should know better than to invest 6 figures into digital Monopoly money.

some financial analysist.

Now is not the time for fear. That comes later.

>The virtual currency markets have been through booms and busts before — and recovered to boom again. But this bust could have a more lasting impact on the technology’s adoption because of the sheer number of ordinary people who invested in digital tokens over the last year, and who are likely to associate cryptocurrencies with financial ruin for a very long time.

Attached: chkle.gif (245x210, 1.29M)

We are just cooling off for the next rally.

>NYT articles about people who lost it all in crypto
Its unironcally over
There wont be any new money until the next generation

Nah, there are way more devs. All it takes is an app store or two. How many serious phone developers were there before the iPhone app store?
I was around then, it was very little - mostly flash based ones for asian markets.

>didn't get in during bitcoins supremely early days
>probably waited too long

Spend all this time on the net and I didn't get in. Fucking hell feels so bad.

Attached: ff_n.jpg (1080x1136, 144K)

Get in now, DCA. Look for what people are dismissive of. Look towards thought leaders.
Or don't. Miss the next one too

>I just invest a few hundred in crypto
>never more than I can afford
>still have $100k+ in savings

Attached: fake tears korean.gif (500x260, 1016K)

Invest more, until it hurts then keep going. This is a new bootstrapped economy and it demands blood. You will never again have this chance.

I'm looking into getting in now but I'm so fresh and new not really sure what I want to put money in or how much. I'll probably only go in about 2k USD at most. Thinking some Link, stellar, and BCH for now.

So with all the burgers I’ve been eating lately (gladly of course) I decided today to try an old favorite, the McDonalds Big Mac. I’ll admit, this used to be my favorite meal on earth, but since it’s been years since I’ve eaten anything at McDonalds that wasn’t on their Value Menu, I was really looking forward to having a Big Mac.

As always,the service was fast, the burger was delivered and the fries were crispy for the first 10 minutes. Overall the Big Mac is still one of my favorite “Fast Food Burgers” because of the secret sauce and because it’s so different. We all know that the you don’t eat a Big Mac for the meat and after eating a lot of really good, meaty burgers over the last few months, it was the sauce that helped me enjoy this meal.

My Big Mac rating is simple:the secret sauce is tangy, sweet and makes for a nice burger. It’s one of my favorite fast food burgers but only because of the unique and secret sauce.

fuck this crypto shit is done.. those people will never buy in again

Bought in at 20k. Still above initial. Could something like this land me a job? Is this rare?

Great time to get in, the normies that pumped and dumped have been filtered out. I would recommend looking down on the charts, not going to shill but there is true innovation & desperation happening in low caps. These are the conditions where innovation thrives.

Do u have enough left for rope so that u can neck yourself?

I'll look down but I don't want to be too risky I wouldnt put a lot of money into something like that especially since I don't know what I'm doing yet.

Do you personally advice against holding large market shares like BTC and ETH and instead sticking to the smaller ones?

I lost like 6-10 grand, can't even count, and that's a lot for someone who's litterly never had a dime untill crypto. Managed to pay of my debts however and still have a measely 5 grand left (AND HOT CHEAP ALTS), not sure what to do with it. I'm in an ICO and I hope it will do well, I'll take a vacation if I can bag more as 3 grand (got 1.2 Grand invested). Excuse my egocentric post, this is the only place where I can write down some of my thoughts and feelings whilst staying anonymous (not that I have any friends or someone to be ashamed for)

LOL. You don't get it. It's the web bubble all over again. The devs are paying their rent from you buying their apps, and when they fail, which they will, they'll move onto another project. That's how it works in the startup world. You're buying pets.com, thinking it's the next Amazon.

>new bootstrapped economy
BAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

*deep breath*

BAHAHAHAHAHAHAHAHAHAHAHAHAHHA

Don't trust investment advice from anyone, dyor. Read the whitepapers, understand long term issues and value. I don't hold BTC because they don't innovate in an emerging field. ETH is cool.
Join the chat community on low caps.

Chat community?

Oh look it's the same attitude people had towards BTC years ago.
These chains are immortal and AI is coming, stop looking to the past for reference. It won't help you to find where we are headed.

literally me

I unironically invested $100k back in March. My holdings have gone from $135k in April to a little over $50k now.
JUST

Attached: sofi1.png (741x209, 16K)

Bumpy

keked at the title and his pic

but yeah I'm down 95%. I know the feels.

>“I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.”
>"financially ruined"

Which one of you faggots said this to the NY times? lmao

10 months is nothing. I lost five years NEETing it up

I don't understand this shit. What the fuck is going through people's head when they decide to take out 100k in loans to buy crypto? If it was so new to you why didn't you just invest in a small amount to test the waters or invest an amount you could afford to lose?

Attached: 12308345.jpg (620x404, 34K)

>loan

>buying in march

you deserve every bit of pain.

>I don't understand this shit. What the fuck is going through people's head when they decide to take out 100k in loans to buy crypto?

Greed

COPE

how do you even get a 100k loan?

why not buy a house if you can get that much credit? wtf

Attached: images (6).png (211x239, 4K)

I outperformed a financial analyst when I literally got in fucking December 15k btc

holy shit this is such a confidence boost

Ive been doing this thing where I work for a year and a half than neet for the same length with the money I've made. I get bored of each after exactly a year and a half.

>They bought at the top.

>Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

>“I thought that cryptocurrencies would be the one and only breakthrough for ordinary hardworking people like us,” she said. “I thought my family and I could escape hardship and live more comfortably, but it turned out to be the other way around.”

Fuck.

Attached: 1530159690228.jpg (500x335, 79K)

> financial analyst

What a meme job title. I'm going to start calling myself this to anyone who asks what I do for a living. I mean, it's technically not false.

honestly proud of you user

Attached: 1517958638019.png (960x720, 1.28M)

Guys, I'm reading the comments on the sidebar and the boomers are saying bitcoin is not backed by anything. did we put all our money into a scam? did we fuck up? guys?

It's backed by the hopes and delusions of normies

fuck indeed.

There are probably dozens (if not hundreds) of such sad stories behind every smug fag who 'made it to lambo land'. These poor suckers bought some fag's bags. It's just that people don't like to listen to losers, or talk about their own loses, so only 'success stories' are brought forward, creating survivalist bias and creating false hope.

I sold because I wasn't an idiot I was up 200% that's nonsense! In 6 months it's pure nonsense!
Now I'll wait to DCA when the market bursts after the Christmas holdout.

This is the same shit these smug libtards were saying back in 2011 and 2013. They'll be saying the same shit when BTC hits $1million.
Anyone that's still here understands that this was a bubble, but it's one in a series of such bubbles. The ignorance of the times commenters really goes to show just how ignorant the average normie is. They'll be the last to FOMO in when FIAT is worthless and it becomes apparent that blockchain is the future of fintech.

I wasn't new. I had a decent amount of success in 2017. My hope was to turn that $100k into $1 mil+ if 2018 was half as good as last year.
I make six figs a year from wagecucking but I didn't want to pass up on buying the "bottom" with full force. I can only save like $5k a month after taxes and living expenses.

those fucking comments

>Mr. Yoo is engaged in that time-honored tradition known as "throwing good money after bad." If he had put his money into a low-cost S&P 500 fund, he'd have $114,500 right now.

Boomers will never get into crypto. And I'm ok with that.

Attached: boomer.jpg (233x216, 7K)

>clearheaded about what happened.
plushpepe.png

The fucked up part is the boomer is right lol

nah, S&P is going to go to shit

wtf those boomer comments
they were right the entire time

Attached: 1534790532462.png (645x773, 46K)

give it more time and the boomer will be wrong

I think the trap most new people fall into is focusing on USD instead of sats/vitaliks. I've been trading on and off for a few months and turned 200 bucks into 1500, but it's now 500 or so. Yea, I'm ahead of the game, but I would have been better off if I'd tethered up on occasion and bought more eth or btc instead of just going from token to token.

Lol u got unluckly cunt and i a neet like who has a shitty life got rich. thanks for the donation :)

>threw about 3k into this early 2017
>make over 200k/yr
>no real debt
>still in the black even now
>don't really care what happens because it was only 3k

>thinking trading with change found behind the sofa is the same as trading hundreds of thousands of dollars

That's the point, you faggot. People are starting off with hundreds of thousands when they should start small and learn their shit before they put such a large amount of capital in. Crypto is far different from the stock market.

The point is that you're poor and think that the lessons you learn while earning for lunch money valid at all?
Come back when you'll start shitting your pants at mere thoughts of market movements.

If you're 'shitting your pants at mere thoughts of market movements' you're not as rich as you think you are.

Being rich can be measured objectively shit-for-brains. Te be one, you have to tackle big boy problems like the ones I've presented.

>I can only save like $5k a month after taxes and living expenses.
That's more than I make a month before taxes.

i disagree partly. don't start off too small. start off with a decent size so that you'd be happy with the gains you made and start taking some profit.

if you start off too small, you're going to FOMO and buy at higher prices and not take any profits because your initial investment was too small

Sure, you're a millionaire on paper or whatever, but you're not rich. Not really. If the market fluctuating scares the shit out of you then you're just some poser playing with money he can't afford to lose. Maybe you'd better go back to basics and learn the first lesson.

Well that user is right, I am poor and haven't been able to put more capital into the market since I started so I've got what I got. If I could have started off with 10k or so I would have.

You still think your opinion matters? Return to your playpen of a portfolio and gather more 'wisdom'. Alternatively, and preferably, kys.

Give it up. Stop the cope, yes I lost my money too and I leave it in bleeding week after week

Its fucking over for good. Or a LONGGGGG time

There have been coins with microsoft partnerships and extremely bullish news. The most they get is a grey candle that may form another before it dumps and continues its downtrend.

I've been saying shit like this since feb, what the fuck do you guys not get? THE DAYS OF BUY CHINK SCAM, ETH , OR BTC AT 30c

AND COMING BACK A YEAR LATER TO ALMOST GUARANTEED PROFIT IS OVER. YOU EITHER STAY ATTACHED TO THE SCREEN AND TRADE ALL DAY THINKING YOU ARE MAKING IT.

OR YOU JUST LET IT RIDE AND LET IT BLEED TO SUB 1 CENT. THE ONLY HOPE IS 5 YEARS FROM NOW , NORMIES FALLING FOR IT AGAIN

I REPEAT ETF WILL DO FUCK ALL. MAYBE A RECOVERY TO 9K BEFORE DUMPING AND PROFIT TAKING. THAT IS NOT WHAT WE WANT

See you next August when you're another has-been complaining that his ATH from the 2018 bull run was $500k and now he's down to $8k and can't afford to NEET anymore.

Yoo fucked up faggot. Should have done ya got damn DEE DEE!

God damn look at that fucking waste. Imagine how many people he could have helped with that money. Imagine being that dumb with a tiny penis.

an actual chink who's formally educated in finance
>doesn't use stop losses

i may actually be the next Warren Buffett, I'm already better than these clowns and I didn't even go to college lol

t. plumber

Wow it's like you know me personally

goes against my interests since i hold shitcoins, but you should probably put your money somewhere else, this market is going to be stagnant for a long time until the public memory fades. Right now cryptocurrency is seen as a weak investment, lots of people lost a huge chunk of their life savings less than a year ago. Remember at the end of 2017 everyone was talking about crypto, hell I had my 60 year old uncle and 85 year old grandfather asking me about bitcoins.

Prices are likely to keep trending down for at least 1-2 years, you'd be better off saving your money and buying in at a lower price sometime 2019, you might even be able to snag BTC in the $500-$2000 range & ETH in the $30-75 range

either way good luck

Attached: 1529133194839.jpg (750x596, 86K)

Thanks. I might just wait and see what happens then. Was planning on putting about 1k into crypto to test the waters soon, don't know if I will.

damn, 90k loss...that fucking sucks. Props to you for still being able to talk about it in semi jest..most people would shut themselves off from society at that point...you have strong nuts

I've been making the daily GOOKED threads lol. When I started crypto I decided whatever money I invest is pretty much gone. It doesn't bother you much as long as you have this kind of mindset. I'm still hopeful icon will pump back up to 12 and more though.

>Buy at the top, because 'this is just the beginning user'
>Put all your eggs in one basket
>Lose most of your initial investment
>Wonder where you went wrong

Why are some people so fucking stupid?

Attached: 83162413.jpg (800x563, 207K)

Nocoiner here to laugh at you guys
This is the best part:
>The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January
>Bitcoin has generally held on better with investors. It is down about 70 percent from all-time highs, rather than the 90-percent losses that lesser-known digital tokens have suffered

Omg that face is killing me
>Ive made a huge mistake

You won't get another golden bull run without "boomers" jumping in. So you're okay with crypto dying off.

Hope that works for ya.

Yes but at least he is financially independently

user, i...

icxded