How I lost $7300 in crypto on 1 investment (and what I learned)
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- čas přidán 23. 04. 2024
- It's an amazing story of how I lost $7300 in crypto on just 1 investment. This loss won't stop me though. Here's all the amazing things I learned from it and how I have shaped this loss to fuel my future gains.
Have you ever taken a loss this big in crypto?
✝️ "Who of you by worrying can add a single hour to your life? Since you cannot do this very little thing, why do you worry about the rest?" Luke 12:25-26
This book changed my life👇 (you are your habits)
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Lost about $1600 on SOL. Fomo’d in when it was coming down off OTH, pretty much because it was the hot topic, along with ADA and DOT. Didn’t know or understand the FTX factor that was in play. Tried to stick it out but lost my stomach end of ‘22. Closed position and was SO pissed I washed my hands of it. If I merely bought back what I tax loss harvested would have made the investment back THEN some off the run of last year. I was however stupid to listen to influencer constantly rant daily “Solana is going to zero!” It’s what stopped me from buying back in. So many lessons from that whole thing.
I was in DANA too. The bear market crashes made it difficult to see until it was too late because everything was going down. I finally realized it with the way they handled their ISPO. Then it was obvious, but it was too late to salvage anything. All I could do was complain online and warn others incase they still had time to get out.
Right there with you. I lost quite a bit on Ardana because I was enthusiastic about its potential and proud to be back a team of young black men. I know it sounds silly, but with so few black people in the industry I wanted them to be successful. I have decades of experience and knew better, so I deserved to be burnt.
Now I refuse to touch any project that I have not personally seen producing consistently through a bear market. Assume every new project is a scam or incompetent until proven otherwise.
Yep make them prove their quality even if you miss a few gains, there’s always more opportunities
Gosh, knowing nothing about the project, the website itself was a major redflag. I can never understand…
🤷♂️
He didn't show the website. The website was taken down when the project rugged
agreed!!
I appreciate it Carter!
People should ask themselves, when was the last time they used cardano for ANYTHING?
To be fair, what actual other utility have you used in crypto other than trading and price tracking? But I agree, no one seems to be doing anything in cardano.
wow, that's a lot
You were the guy who was criticizing icp.....
Just providing my opinion..currently working on a video about all the innovations ICP is doing since I do recognize I have been hard on it
Isn't ICP very centralized and was launched with a drastically hyped launch price that crashed pretty much immediately?
ICP is a pipe dream lol - sell it at the top
Am confused with noth Lenfi and Liqwid finance,
Which among them has potential and why ?
I am confused among them both !!
Im confused be reading you’re confusing 🫤
Both could have potential. They do the same style of lending with lending pools (lenfi also has p2p lending). I believe the main reason people were hesitant on LQ initially was the token unlocks. You could have to check their current token supply to see where that is right now. I don’t follow it very closely
@@moaf4328 😂😂😂
What your opinion on Cardano?
I like Cardano and think it does a lot for the retail investor. It has fair tokenomics with a capped supply, fair staking without locking, and anyone can run a stake pool and contribute to decentralized ecosystem. Right now it’s working on governance this year where every ADA holder can vote on proposals.
@@dawsonallen
Thanks
Don’t think open governance has worked well for Dot. Hope for Ada its different.
Swap all your ADA for ICP.
Nah
You must be listening to that CV influencer guy. 😒