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I’m ‘financially ruined’: Cryptocurrency investors are crushed by losses of 70% or more
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2018 Aug 20, 3:45pm 2,445 views 15 comments
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3
CaltRightCrazy
2018 Aug 20, 4:59pm
CaltRightCrazy
2018 Aug 20, 4:59pm
The stock market has ALWAYS served the purpose of transferring wealth from the middle class to the rich who have better information, broader choices, faster platforms, etc.
Everybody can pull off an emergency trade out of Tokyo after hours here, right?
Hahahahahahahahahaha
Now then.
Regulations to spread economic growth to wage earners who are not the real fools.
And don't you dare call it socialism.
Everybody can pull off an emergency trade out of Tokyo after hours here, right?
Hahahahahahahahahaha
Now then.
Regulations to spread economic growth to wage earners who are not the real fools.
And don't you dare call it socialism.
4
EBGuy
2018 Aug 20, 5:16pm
What does this mean for the graphics card market. Had to build a gaming PC for the kiddos with a $99 Ryzen 2200g combo APU. Thanks AMD! I have not yet begun to overclock...
5
Evan F.
2018 Aug 20, 5:42pm
Lol I got out of crypto in January. Right at the top. Not that I would've lost if I sold now, I bought in like 3 years ago, and not because I was interested in it as an investment. My wife was using Fiverr for some support/graphic design work on her novels and a ton of people (at the time) expected Bitcoin as payment, so I bought a big chunk just to be done with it. Anyway it's a nice little windfall, even if Uncle Sam takes half. Fucking HALF!
6
Patrick
2018 Aug 20, 5:48pm
Patrick
2018 Aug 20, 5:48pm
Call It Crazy says
That sure did happen in the great Dot-com bubble that blew up in 2001. Lots of pension funds and individuals put way too much into crappy stocks that seemed to go up forever. And then seemed to go down forever, hitting the floor and burrowing into the basement...
But merely by buying index funds or large stable dividend-paying stocks, anyone can pretty much track the market with very little risk. You don't need to call Tokyo after hours, ever.
That's a great benefit to the middle class, and if they don't churn, they will do fine.
The stock market has ALWAYS served the purpose of transferring wealth from the middle class to the rich who have better information, broader choices, faster platforms, etc.
That sure did happen in the great Dot-com bubble that blew up in 2001. Lots of pension funds and individuals put way too much into crappy stocks that seemed to go up forever. And then seemed to go down forever, hitting the floor and burrowing into the basement...
But merely by buying index funds or large stable dividend-paying stocks, anyone can pretty much track the market with very little risk. You don't need to call Tokyo after hours, ever.
That's a great benefit to the middle class, and if they don't churn, they will do fine.
8
🎂
Rin
2018 Aug 20, 6:48pm
Rin
2018 Aug 20, 6:48pm
Patrick says
Dividends and dividends only, because they can invest in even larger no of equities, during a down market. That's the key to compounding interest.
buying index funds or large stable dividend-paying stocks
Dividends and dividends only, because they can invest in even larger no of equities, during a down market. That's the key to compounding interest.
9
RWSGFY
2018 Aug 20, 6:55pm
RWSGFY
2018 Aug 20, 6:55pm
MrMagic says
"But it can't go to zero because the supply is limited by design!"
DASKAA saysQuitters!
True.... It's not Zero...... Yet...
"But it can't go to zero because the supply is limited by design!"
10
lostand confused
2018 Aug 20, 7:40pm
lostand confused
2018 Aug 20, 7:40pm
Patrick says
Yeah maybe just me-but my best investments have been "safety" stocks. The one I bought for appreciation left big holes in my pockets.
That's a great benefit to the middle class, and if they don't churn, they will do fine
Yeah maybe just me-but my best investments have been "safety" stocks. The one I bought for appreciation left big holes in my pockets.
12
BayArea
2018 Aug 20, 10:34pm
BayArea
2018 Aug 20, 10:34pm
To the post above...
Yes, if you are short term investing, day trading, follow the media hysteria stories, or just making a lot of transactions, your are likely to get eaten alive. This is where money changes hands from the middle class to the upper class.
BUT, if you go long and invest in SP500, popular Vanguard ETFs, and high dividend funds, you will win over the long run. This is the only chance the middle class none financial professional has to win.
Yes, if you are short term investing, day trading, follow the media hysteria stories, or just making a lot of transactions, your are likely to get eaten alive. This is where money changes hands from the middle class to the upper class.
BUT, if you go long and invest in SP500, popular Vanguard ETFs, and high dividend funds, you will win over the long run. This is the only chance the middle class none financial professional has to win.
13
BayArea
2018 Aug 20, 10:38pm
BayArea
2018 Aug 20, 10:38pm
Down big after the first quarter.
No sense in quitting the game now ?
No sense in quitting the game now ?
14
clambo
2018 Aug 22, 5:01am
What does the stock market have to do with Bitcoin?
The stock market is the only reason many middle class people will have secure financial futures. How can bank savings accounts grow your net worth?
The second richest person I knew was a little old lady who owned stocks for 60+ years. She was not rich by any means when she began.
The trick is either buy blue chip stocks or buy a mutual fund which is easier and safer.
The stock market is the only reason many middle class people will have secure financial futures. How can bank savings accounts grow your net worth?
The second richest person I knew was a little old lady who owned stocks for 60+ years. She was not rich by any means when she began.
The trick is either buy blue chip stocks or buy a mutual fund which is easier and safer.
15
zzyzzx
2018 Aug 23, 7:47am
zzyzzx
2018 Aug 23, 7:47am
MrMagic says
Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000,
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.
"I got too caught up in the fear of missing out and trying to make a quick buck," he said this week. "The losses have pretty much left me financially ruined."
Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, according to data from the website coinmarketcap.com.
On Reddit, a user in the United Arab Emirates posted a picture of the $100,000 loan he'd taken out in December to buy cryptocurrencies — and that he will now be paying back out of his salary for the next three years.
https://www.cnbc.com/2018/08/20/after-the-bitcoin-boom-hard-lessons-for-cryptocurrency-investors.html