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Forum » My friend lost 3 millions USD in crypto (srs)
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Thread: My friend lost 3 millions USD in crypto (srs)

post 1643236233 07-20-2021, 09:21 AM
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My friend lost 3 millions USD in crypto (srs)

Around 1-2 months ago my friend had 3 million USD in profits in crypto from an initial investment of only 10 000 dollars in 2019. Now he is down to 550k USD in profits (i know, still a unreal amount). Like a true retard he did not take any profits and was HODLING this whole time. I will never understand it, 3 millions would change his and his familes life forever. Im sad for him srs
post 1643236333 07-20-2021, 09:21 AM
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Hodl!
post 1643236563 07-20-2021, 09:27 AM
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you act like BTC has never had volatility before...

you friend is smart for holding.

wait and see in 5-10 years.
post 1643236593 07-20-2021, 09:27 AM
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Originally Posted By backinthegymbro⏩
Maybe he'll have 10 million 5 years from now. Remember the people who didn't sell bitcoin when it was 20k? Then it dropped to 3k only to reach 60k?
Why not scale out and then back in on the dip tho? This all or nothing **** is just pure gambling
post 1643237503 07-20-2021, 09:43 AM
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One of the cardinal rules of r/wallstreetbets is if it's good enough to take a screenshot, it's good enough to take profits.
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post 1643237643 07-20-2021, 09:45 AM
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You do understand he hasnt lost anything because he hasnt sold anything yet right?
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post 1643237883 07-20-2021, 09:47 AM
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Originally Posted By FA*******⏩
One of the cardinal rules of r/wallstreetbets is if it's good enough to take a screenshot, it's good enough to take profits.
Tell us more about Reddit please
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post 1643237933 07-20-2021, 09:48 AM
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Would your friend Hodl these nutz in his mouth like he did his crypto?
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post 1643238023 07-20-2021, 09:49 AM
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Originally Posted By backinthegymbro⏩
Maybe he'll have 10 million 5 years from now. Remember the people who didn't sell bitcoin when it was 20k? Then it dropped to 3k only to reach 60k?
only way that would happen is if there's a wave of hype like there was. i dont see it happening any time soon.
post 1643238263 07-20-2021, 09:52 AM
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Originally Posted By Fuqdatass⏩
Tell us more about Reddit please
WSB is a better misc than misc right now. When's the last time you've seen a decent GIF chop on here?
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post 1643238283 07-20-2021, 09:52 AM
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So? If he continues to hold it will go right back up. Derp
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post 1643238623 07-20-2021, 09:56 AM
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So he put in $10k and now has $550k? And you call him a retard?

How much did you invest? How much are you currently holding?
post 1643238683 07-20-2021, 09:57 AM
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Originally Posted By RICHSTRONG⏩
Would your friend Hodl these nutz in his mouth like he did his crypto?
This... Keep Hodling dem nuts till next climb
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post 1643238703 07-20-2021, 09:57 AM
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good fuk him. anyone that made millions of dollars from doing basically nothing and didn't capitalize on that insane amount of money should fuk themselves 100% dead srs
post 1643239223 07-20-2021, 10:04 AM
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Somewhat off topic but if he sells, doesn’t it get taxed at like 40% for capital gains?
post 1643239343 07-20-2021, 10:06 AM
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Originally Posted By lolatpaniccels⏩
good fuk him. anyone that made millions of dollars from doing basically nothing and didn't capitalize on that insane amount of money should fuk themselves 100% dead srs
this srs especially at 3 million just lol at being greedy and hodl strategy srs.

take that 3 million and put it in the s and p 500 index and call it a day. at 3 million its fuk you money. lets say he gets 8 percent return on 3 mlly thats 200k+ a year.
post 1643239663 07-20-2021, 10:11 AM
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Originally Posted By Mj-drewfan32⏩
this srs especially at 3 million just lol at being greedy and hodl strategy srs.

take that 3 million and put it in the s and p 500 index and call it a day. at 3 million its fuk you money. lets say he gets 8 percent return on 3 mlly thats 200k+ a year.
At the very least, take 1/3 of it off the table at 1 million. Can let the rest ride and see what happens.
post 1643239763 07-20-2021, 10:13 AM
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Originally Posted By MotorCityCobra⏩
Around 1-2 months ago my friend had 3 million USD in profits in crypto from an initial investment of only 10 000 dollars in 2019. Now he is down to 550k USD in profits (i know, still a unreal amount). Like a true retard he did not take any profits and was HODLING this whole time. I will never understand it, 3 millions would change his and his familes life forever. Im sad for him srs
if his investment was 10k at the lowest it was in 2019 it was like 3,500 and it got to 60k peak price so he would have 150k ish give or take. how did he make 3 milly?
post 1643240353 07-20-2021, 10:23 AM
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Why would he buy to compare it to USD terms? That defeats the purpose of crypto. If he has even the slightest understanding of decentralized finance protocols he would be buying btc to own btc. Let me guess, he held on a centralized platform too?

Lesson is, don't invest into something you don't understand.

1btc=1btc. 1eth=1eth.

Store it on chain, stake it, create liquidity pools, yield farm, etc. Do it right and his family will still be more than alright. srs.
post 1643240463 07-20-2021, 10:24 AM
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Originally Posted By Dan_S⏩
At the very least, take 1/3 of it off the table at 1 million. Can let the rest ride and see what happens.
agreed srs.
Originally Posted By JuicyBruv⏩
if his investment was 10k at the lowest it was in 2019 it was like 3,500 and it got to 60k peak price so he would have 150k ish give or take. how did he make 3 milly?
probably a chit coin no way its btc or eth probably a very randon coin which makes the hodl strategy even more stupid.
post 1643240553 07-20-2021, 10:26 AM
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Originally Posted By JuicyBruv⏩
if his investment was 10k at the lowest it was in 2019 it was like 3,500 and it got to 60k peak price so he would have 150k ish give or take. how did he make 3 milly?
most likely invested in either ETH or doge, I made almost 10k on doge put in 500 bucks in novemeber took my money and ran
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post 1643240643 07-20-2021, 10:28 AM
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post 1643241653 07-20-2021, 10:47 AM
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Originally Posted By Vikes723⏩
most likely invested in either ETH or doge, I made almost 10k on doge put in 500 bucks in novemeber took my money and ran
even if it was Ethereum it would be like 300k or so
post 1643241683 07-20-2021, 10:47 AM
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Originally Posted By JuicyBruv⏩
if his investment was 10k at the lowest it was in 2019 it was like 3,500 and it got to 60k peak price so he would have 150k ish give or take. how did he make 3 milly?
OP said Crypto, not Bitcoin.

Dogecoin in 2019 was $0.0025 and peaked at $0.75

That's a 300x gain which would put $10,000 at $3 mil

That said, OP's friend is an idiot if he did invest in Doge and didn't take any profits on a crypto that isn't even trying to even have any real world application and was created specifically as a a meme joke token. Very high likelyhood this coin never reaches its same price again.
post 1643241783 07-20-2021, 10:49 AM
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post 1643242093 07-20-2021, 10:52 AM
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Originally Posted By Contribution05⏩
OP said Crypto, not Bitcoin.

Dogecoin in 2019 was $0.0025 and peaked at $0.75

That's a 300x gain which would put $10,000 at $3 mil
lol nobody smart was dropping 10k in doge coin in 2019 with something that at that point had such little relevance.


on a real note tho i phucked up. my best friend has his homie pull up one day to the club in a brand new aventador lam and he was like damn bro business has been good? and hes like " bitcoin bro" told me about doge coin like a month before it went bezerk and i didnt invest. he was like bro trust me doge coin put you money in that. and i can only imagine how much he made since he already knew about that before elon posted or anyone was even talking about it. i know he mad a big ******** bag. but i f ed up . it was like .002 something when i looked at it a week after he told me and then boom. this stupid coin is being talked about everywhere. moral of the story ( scared money don't make money) and i was like yeahhh whatever
post 1643243183 07-20-2021, 11:09 AM
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Fortunes like this are made and lost daily. Greed destroys all, no # of digits is ever enough. Even if he cashed out at $3million, he'd think it wasn't enough and would YOLO into something else that would bomb and destroy his gains

If you want to actually get wealthy and stay wealthy, found an exchange that makes $$$ on fees from this type of speculation and trading activity. Robinhood made an absolute killing on Dogecoin trading fees.
post 1643244323 07-20-2021, 11:24 AM
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post 1643244423 07-20-2021, 11:25 AM
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post 1643249523 07-20-2021, 12:26 PM
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Originally Posted By JuicyBruv⏩
if his investment was 10k at the lowest it was in 2019 it was like 3,500 and it got to 60k peak price so he would have 150k ish give or take. how did he make 3 milly?
he invested in a altcoin called Telcoin. It is up several thousands % past couple of months
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