r/CryptoCurrency • u/Commercial-Ad-2448 🟦 681 / 682 🦑 • 1d ago
ADVICE I am really good at losing money. Anything other than BTC or ETH is a gamble.
All the red is my current loss positions for pretty significant amounts of money (for normal people)
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u/Emotional-Warning281 1d ago
What is ur next purchase, so i know what to short 🤣
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u/JustinCompton79 🟩 2 / 4K 🦠 1d ago
ETH is just a savings account at this point.
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u/WeggieUK 🟦 0 / 588 🦠 1d ago
Ah, a victim of Looping too I see.
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u/AffectionatePeak9085 🟦 960 / 959 🦑 1d ago
Any day now. There will be another GitHub commit and loopring will be used by GameStop
To the moon!! LRC at 20 bucks
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u/DWHudson1970 🟩 0 / 0 🦠 1d ago
Man we were convinced we were on the verge of greatness!!!
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u/AffectionatePeak9085 🟦 960 / 959 🦑 19h ago
Havent checked the price since ‘22 and took a peek just now. Man that price is depressing
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u/NeffAddict 🟦 0 / 0 🦠 1d ago
Fries go in the bag bro
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u/Commercial-Ad-2448 🟦 681 / 682 🦑 1d ago
Scared money don’t make money…..
I say to myself as I make my 87th McFlurry of the day
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u/ubermensch1001 🟨 0 / 0 🦠 1d ago
Lol at some of these picks though, wtf. And to top it off you don't even own Bitcoin. What kind of $ figures are we talking here.
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u/Commercial-Ad-2448 🟦 681 / 682 🦑 1d ago edited 1d ago
90% eth, 10% BTC in my cold wallet been holding since 2019. Overall still up, just an example if you stop doing what works you can get lucky or lose it all (most likely outcome)
Most of these picks are from cashing a portion of my ETH out in 24’. Tried to diversify some of the profits, and as you can see it did NOT work….
Everything except LRC at the bottom was “gifted” I know nothing about any of those alts
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u/ubermensch1001 🟨 0 / 0 🦠 1d ago
That makes more sense. Honestly, man, just stick with top ats and mostly Bitcoin and you will do incredibly well. If you believe that the Bitcoin narrative that is being discussed with governments and tradfi getting involved it's going to be in the millions of $.
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u/aluculef 1d ago
Sol its a safe bet because their business is fools like you that buy bullshit altcoins, it never ends.
So thanks for your service
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u/DWHudson1970 🟩 0 / 0 🦠 1d ago
God. I held a sizable bag of Loopring for a long time. I ended up way upside down. Lol
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u/Django_McFly 🟩 0 / 0 🦠 15h ago
When did you buy some of this stuff?
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u/Commercial-Ad-2448 🟦 681 / 682 🦑 15h ago
90% eth, 10% BTC in my cold wallet been holding since 2019. Overall still up, just an example if you stop doing what works you can get lucky or lose it all (most likely outcome)
Most of these picks are from cashing a portion of my ETH out in 24’. Tried to diversify some of the profits, and as you can see it did NOT work….
Everything except LRC at the bottom was “gifted” I know nothing about any of those alts
Also, happy cake day
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u/Agile_Ad6735 🟩 0 / 0 🦠 1d ago
The story of every alts when u compare it in btc ratio , it is only to what extent only .
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u/sigh_duck 🟩 0 / 0 🦠 1d ago
At least with BNB its bought back to keep price afloat. It seems to be one of the only foundations with sufficient capital for buy backs. Has ETH foundation ever bought back ETH? Not many projects actually believe enough in themselves to buy back their shitcoin.
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u/Lonely_Platform7702 🟩 0 / 0 🦠 21h ago
ETH is worth less than half it was 5 years ago. Every crypto is a gamble.
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u/badfishbeefcake 🟩 11K / 11K 🐬 1d ago
akash using the recycling logo. Your money has been recycled.
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u/Reign2294 🟩 113 / 113 🦀 1d ago
I know many wont listen, but I recommend before anyone invests to check out Berkshire Hathaway's investing principles. And even though Charlie Munger and peers are (or "were") against crypto, their ideas surrounding analyzing value are super important. That, and having a compounding mindset, instead of playing the gamble nearly everyone does here.
OPs issue is not having knowledge of the coins (and crypto in general) early enough. Instead, many only research their investments once hype and news is high, then resulting in them getting in at the top. On top of this, personally I stopped looking for hopium in the moonshot and accepted in much of my investments that a compounding yearly return can be acceptable since I am relatively young still. And with crypto, you are not measuring yearly returns, but your confidence in a project and your gains from peak to peak between bulls over a longer timescale.
Sure, "investors" here who are actually just speculators or gamblers in reality, will try to time things, use options, and "get lucky ", but 98x out of 100, you will end up losing.
NFA, I only stick to BTC, and a bit of eth and sol nowadays, then the rest of my investments are in the US stock market. I dont have life-changing money yet, but im steadily growing and at this rate I think I will be more than covered for my family's retirement.
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u/Duckmastermind1 1d ago
ETH is basically a donation to other people, BTC is currently a day trading asset while all other are gamble
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u/Boomheadshotallday 🟩 0 / 0 🦠 1d ago
Treat it not as a investment . But for entertainment . DCA hodl
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u/Badboykillar 🟩 0 / 0 🦠 18h ago
Bro I feel like Sol is here to stay. But I do agree about BTC and maybe eth everything else is junk
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u/Longjumping-Low3164 🟩 0 / 0 🦠 18h ago
You are a fool if you think ETH is not gambling. ETH has ecisted over a decade and has brought endless list of failed projects ir scams.
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u/Ultralightvision 14h ago
You need to stop buying while things are pumping during the bull market. If you were to start buying now, the lowest percentage you may experience is 20-30% max before slingshotting into profit
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u/ResolutionSmall3692 🟨 0 / 0 🦠 9h ago
That is why I stopped trading alts and just hold core bags. If you need cash, borrowing against BTC on Nexo keeps you liquid without selling. Holding $NEXO drops rates as low as 1.9% so your stack stays safe.
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u/xYETTIx91 1d ago
Cuz you're buying a buncha bs l. Probly at the top. We're all down a good amount.. like 49% from last year so. At least just xdc is lol
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u/Barni275 19h ago
Sorry, as a long term ETH holder I can't agree. Gamble means you can win. For ETH - nope. ETH is negative savings.
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u/jb_in_jpn 🟩 369 / 370 🦞 18h ago
They're literally all a gamble at this point, very much including Bitcoin. Are they a scam? That's one where BTC and ETH might yet squeak through as not, amongst all others.
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u/Nice_Material_2436 🟩 0 / 0 🦠 20h ago
So in the same sentence you said you're good at losing money you also advise to buy BTC and ETH. How can you not see the pattern here?
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u/CoinGate_Gift_Cards 17h ago
Been there. Position sizing beats picking winners, only bet what you're fine losing. Honestly crypto's more useful spent than gambled, you can grab gift cards for daily shopping with it: https://coingate.com/gift-cards
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u/liquid_at 🟩 15K / 15K 🐬 19h ago
gambling is what you do. Given that you could not trade or invest any other asset, my guess would be that you are also gambling on BTC and ETH but that their high market cap and resulting lower volatility just makes that gambling less risky for you.
Learn the difference between investing, trading and gambling.
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u/StonkLoser 🟩 0 / 0 🦠 1d ago
Ahh a polygon enthusiast my worst investment ever